Ora Banda Mining (OBM) Investor presentation summary

Strategic growth vision and operational highlights

• Aims to organically build into a 300 koz per annum gold producer, with a robust pipeline of projects and expansions underway.

• FY26 saw record production of 141 koz, a 75% increase in resources, and a 159% increase in reserves year-to-date.

• Approved construction of a new 3.0 Mtpa mill at Davyhurst, targeting a combined 4.2 Mtpa milling capacity by FY29.

• Substantial liquidity of ~A$468 million, including A$267.7 million in cash and an undrawn A$200 million revolving credit facility.

• FY27 production guidance is 125–140 koz at an AISC of A$3,400–A$3,600/oz, with A$425 million in capital investment planned.

Project pipeline and exploration

• Key growth projects include Waihi Underground (approved), Round Dam Open Pit (PFS completed, FID expected 2H FY27), and ongoing expansion at Sand King and Riverina.

• Exploration budget increased to A$75 million per year for the next three years, targeting resource and reserve growth and new mine discoveries.

• Little Gem and Riverina trends continue to deliver high-grade drill results, with Little Gem’s maiden resource estimate targeted for 2Q FY27.

• Round Dam PFS outlines an 8-year mine life with 724 koz mined at 1.7 g/t, and significant geological potential remains underexplored.

• Mulline trend identified as a future high-grade exploration opportunity, with less than 5% of drill holes below 100m vertical depth.

Infrastructure and operational improvements

• A$180 million allocated for infrastructure upgrades at Davyhurst, including accommodation, airstrip, haul roads, and on-site assay lab.

• New mill construction underway, with commissioning expected in March quarter 2028, designed for operational flexibility and cost reduction.

• Stockpile build to commence in 2Q FY27, with third-party milling to cease, supporting transition to in-house processing.

• Operational flexibility enhanced by multiple mines and mills, reducing single asset risk and improving economies of scale.