K92 Mining (KNT) Investor presentation summary

Growth strategy and production expansion

• Targeting rapid growth to 500 koz AuEq per year, with Stage 3 expansion to 300 koz AuEq and Stage 4 to over 400 koz AuEq by late 2027.

• Stage 3 process plant (1.2 mtpa) commissioned under budget in late 2025, with first saleable production in October 2025.

• Stage 4 expansion aims for 1.8 mtpa process capacity, with major infrastructure upgrades underway, including power, ventilation, and haulage.

• Fully funded for growth, with $287m cash, $45m debt, and up to $60m additional liquidity as of March 2026.

• Exploration budget of $31–35m in 2026, potentially increasing to $40m after Stage 3 delivery.

Operational performance and cost profile

• Achieved record production in Q1 2026, exceeding budget, with strong operational cash flow supported by high gold prices.

• Among the highest-grade, lowest-cost gold mines globally, with 2026 AISC guidance of $1,250–1,350/oz Au and reserve grades above 8 g/t AuEq.

• Major infrastructure upgrades (twin incline, ore pass, ventilation, pastefill) are transforming underground productivity and mine flexibility.

• Process plant consistently delivers gold recoveries above 94%, exceeding DFS parameters for eight consecutive quarters.

• Significant portion of sustaining capex is allocated to upcoming expansions.

Resource growth and exploration

• Kora and Judd deposits have seen resource growth of over 776% since 2017, with current consolidated M&I resources of 8.1 Moz AuEq at 7.8 g/t and inferred resources of 16.5 Moz AuEq at 5.7 g/t.

• Blue Lake porphyry project hosts a 14.6 Moz AuEq inferred resource, with grade tenor increasing at depth and open for expansion.

• Multiple high-priority near-mine and regional targets, including Arakompa, Maniape, and Wera, are being aggressively drilled.

• Exploration is systematic and efficient, with discovery costs below $7.5/oz AuEq.

• Airborne geophysics has identified extensive untested strike potential and new targets across the 830 km² land package.