Pantoro Gold (PNR) Investor Presentation summary

Operational performance and growth

• Processing plant operates above nameplate at 1.2Mtpa, with potential to reach 1.4Mtpa without major upgrades; recovery rates at 95% in FY2025.

• High-grade OK Underground Mine and Scotia Underground Mine are both in production, with Scotia ramping up and open pits active at Princess Royal and Gladstone.

• Strategy focuses on replacing open pit feed with higher-grade underground ore to target over 200,000oz annual production in the medium term.

• Multiple production areas at Scotia provide flexibility and growth, with expected mining of over 500,000 tonnes in FY2026 and capacity to increase further.

• Ongoing rehabilitation and drilling at Bullen Mine to access Mainfield, with significant infrastructure upgrades completed.

Exploration and resource development

• Extensive drilling program underway: 41,000m drilled last quarter, 200,000m planned for FY2026, with 4 underground and 3 surface rigs operating.

• Mainfield, Crown Reef, and Mararoa are key exploration targets, with high-grade results including 5.7m @ 35.85g/t Au and 3m @ 485.43g/t Au.

• Scotia extensional drilling targets a 250,000oz resource addition in one year and 1Moz over five years, with 56,000m of drilling planned for FY2026.

• First regional greenfields exploration in 30 years to commence, focusing on underexplored salt lake tenements and foundational geochemical and geophysical datasets.

• Onsite PhotonAssay lab enables rapid, accurate assay turnaround, supporting real-time exploration decisions.

Mine-specific highlights

• OK Underground Mine produces 35,000–40,000oz per year, with resource growth and high-grade intersections such as 10.15m @ 44.39g/t Au.

• Scotia Underground Mine is fully rehabilitated, mining over 1km of strike, and producing expected grades; capacity to exceed 700,000tpa as new areas are accessed.

• Open pit mining at Princess Royal, Desirables, and Gladstone progressing above budgeted rates, with future growth targeted at North Royal.

• Mainfield exploration reveals multiple high-grade zones and new discoveries, with significant unmined areas accessible from existing infrastructure.