Far East Gold (FEG) Investor update summary

Strategic focus and asset management

• Emphasis on advancing the Idenburg project, with a clear pathway to increase ownership from 51% to 80% upon completion of the Indonesian feasibility study, and potential for 100% ownership under certain conditions.

• Portfolio strategy centers on creating and realizing value from non-core assets (Woyla, Wonogiri, Trenggalek, Australian assets) through sales, joint ventures, or partnerships, with proceeds reinvested into Idenburg.

• Recent non-binding indicative offers for Wonogiri and Trenggalek total AUD 85 million, reflecting external validation of asset value.

• Scoping study for Idenburg completed, supporting a disciplined approach to resource conversion and feasibility work.

• Multiple work streams are active, including resource upgrades, permitting, and transaction processes, providing several catalysts for value creation.

Project development and resource updates

• Idenburg's current resource stands at 780,000 ounces at 3.1 g/t gold (inferred), with a high-grade core of 390,000 ounces at 9.2 g/t.

• Planned drilling at Sua targets conversion of 220,000 ounces from inferred to indicated, aiming to enhance economic certainty and enable release of financial metrics.

• Indonesian feasibility study for Idenburg is underway, targeted for completion in the first half of 2027, which will trigger the increase in project ownership.

• Woyla is progressing towards a maiden JORC resource estimate, leveraging existing high-grade drill results.

• Wonogiri and Trenggalek are advancing through tenure restoration, due diligence, and negotiations for potential transactions.

Governance and shareholder matters

• Recent takeover bid by Xingye closed without meeting minimum acceptance, with the board and most shareholders viewing the offer as undervaluing the company.

• Xingye now holds 34.57% and has called an EGM to seek removal of several directors; management recommends voting against this to avoid disruption during critical project phases.

• A separate shareholder group has requisitioned another meeting to remove directors linked to previous vendor arrangements, with management supporting some removals to align board structure with current strategy.

• Board and management remain committed to transparent communication and protecting shareholder value, emphasizing that governance changes do not halt ongoing project work.