Gold Road International (GOLDR) Investor presentation summary

Transaction overview and capital structure

• Contemplating a private placement and Euronext Growth Oslo listing, targeting up to USD 15.5m in gross proceeds, with USD 12m primary and USD 2m secondary shares, plus a USD 1.5m over-allotment option.

• Four largest shareholders have pre-committed USD 10.5m, with additional investor indications covering the total offer size.

• Proceeds allocated to mine equipment, growth capex, royalty buy-back, debt repayment, transaction costs, and working capital.

• Post-transaction, the company will be debt-free and well-capitalized for production ramp-up.

• Lock-ups in place for management and major shareholders, with trading expected to commence around July 1, 2026.

Business model and operations

• Operates a fully permitted underground gold mine and processing plant in Arizona, with production restarted in September 2025.

• Production ramp-up underway, targeting 8-10,000 oz annualized gold output by year-end 2026.

• 100% ownership of Gold Road Mine, Tom Reed Tailings, and TRUE Vein system, with scalable growth opportunities.

• Processing plant has a permitted capacity of 900 tpd and demonstrated recoveries of ~86%.

• District-scale consolidation achieved, with expansion potential in TRUE Vein and other zones.

Financial performance and outlook

• Positive cash flow outlook supported by low capital intensity and expected AISC of USD 2,400-3,000/oz in H2 2026.

• Illustrative free cash flow potential of USD 10-30m annually at various gold prices and production rates.

• Balance sheet as of Q1 2026 shows USD 2.4m cash, USD 6.9m inventory, and no interest-bearing debt post-transaction.

• Historical tax losses of ~USD 50m available to offset future taxable income.

• Cost structure is largely fixed, with increased production translating into higher margins.