KEFI Gold And Copper (KEFI) Investor presentation summary

Geological potential and market opportunity

• Ethiopia's geology is similar to Western Australia, indicating significant mineral potential, especially for gold and copper.

• Ethiopia's mineral exports reached $1B in 2024 and are projected to exceed $3B in 2025, with long-term potential over $40B annually.

• The Arabian-Nubian Shield is a major focus area, comparable in size and geological significance to Western Australia.

Regulatory and economic reforms

• Policy reforms since 2020 have aimed to improve the regulatory framework, investment promotion, and stakeholder engagement.

• Democratic reforms since 2016 have stabilized the country, with improved security and normalized international relations.

• Economic reforms now prioritize private sector growth, recognizing the role of junior mining companies in discoveries.

Project pipeline and development status

• Ethiopia has a backlog of mining projects, with 2,870 prospects, 664 advanced exploration, and 66 in development.

• The average mine takes 20 years from discovery to production, highlighting the need for disciplined project advancement.

• Tulu Kapi is the only fully permitted, banked mining project in Ethiopia, with potential to expand its resource base.