Magnetic Resources (MAU) Investor Presentation summary

Investment highlights and project overview

• High-grade gold resource in a renowned mining belt with proximity to key infrastructure and under-utilised processing capacity.

• Lady Julie Gold Project resource stands at 35.7Mt @ 1.86g/t Au for 2.14Moz; Laverton resources total 40.7Mt @ 1.77g/t Au for 2.32Moz.

• Feasibility Study shows pre-tax NPV of $970M, 45% IRR, 140koz/year production over 9 years, and LOM EBITDA of $2,231M at A$4,000/oz gold price.

• Mining lease granted for Lady Julie North 4; advanced engineering and funding solutions underway.

• Project is rapidly advancing towards development with a senior management team being recruited.

Feasibility study and operational details

• Maiden Ore Reserve of 18.0Mt @ 1.72g/t Au for 997,300oz; 9-year mine life averaging 140,000oz/year.

• Initial capital requirement of A$375M; LOM AISC of A$1,908/oz confirms high-margin operation.

• Feasibility Study improved confidence and scale over PFS: 19.8Mt ore mined, 1.65g/t average grade, 2.75Mtpa plant, 1,019,803oz total production.

• LJN4 open pit is the main orebody; underground operations to start in year 2, targeting 550ktpa.

• Project timeline targets first production in mid-2027, with permitting, procurement, and construction milestones mapped out.

Resource growth and exploration potential

• Lady Julie North 4 resource has grown over 17x since 2022, now at 31.2Mt @ 1.93g/t Au for 1.94Moz.

• High-grade mineralisation remains open at depth, with significant intersections excluded from current FS to be included in future studies.

• Additional resource extension potential at depth and along strike, with ongoing drilling planned.