Genesis Minerals (GMD) Investor presentation summary

Proposal overview

• Genesis has proposed to acquire all Vault shares via a scheme of arrangement, offering 0.7629 Genesis shares plus $0.475 in cash per Vault share, valuing each Vault share at $5.274, a 14.5% premium to a competing offer.

• Post-transaction, Genesis shareholders would own 59.8% and Vault shareholders 40.2% of the enlarged group.

• The proposed board would have a 4:3 split between Genesis and Vault nominees, with key leadership roles identified.

• Genesis has completed due diligence and executed a scheme implementation deed, pending a matching rights process with a third party.

Strategic rationale and synergies

• The merger would create a leading Australian gold producer in the Leonora-Laverton district, with pro-forma reserves of 9.4Moz and resources of 33.6Moz.

• Estimated annual gold production would reach 600-700koz, consolidating complementary assets for regional dominance.

• Genesis estimates over A$2.0 billion in post-tax synergies over ten years, including A$1.5 billion unique to this combination.

• Synergies include capital savings, operational efficiencies, and corporate/tax benefits, with further unquantified operational flexibilities.

• Enhanced scale and liquidity would result in a pro-forma market capitalization of A$12.6 billion and net cash of A$611 million.

Operational and asset overview

• The enlarged group would operate three production centers in Western Australia, with key assets and mills in Leonora, Laverton, Mt Monger, and Canada.

• Major processing facilities include KOTH, Leonora, Laverton, Darlot, Randalls, Deflector, and Sugar Zone mills.

• Infrastructure optimization and mine planning flexibility are expected, including potential to defer capital costs and optimize ore feed.

• The group would benefit from centralized supply chain hubs and shared technical expertise across sites.