PDI Gold (PDI) Investor presentation summary

Project overview and development status

• Advancing the Bankan Gold Project in Guinea, one of Africa's largest and most advanced gold development projects, with a 5.5Moz mineral resource and 3Moz ore reserve, targeting ~250kozpa over 12+ years at US$1,057/oz AISC.

• Environmental approval secured in January 2025 and Definitive Feasibility Study (DFS) completed in June 2025; exploitation permit application in final stage.

• Board and management have extensive experience in African mining, with a strong track record in permitting, financing, and operating gold mines.

• Guinea is a stable mining jurisdiction with established fiscal terms and a strong mining culture, contributing over 90% of exports and ~21% of GDP.

• Project implementation targets final investment decision in early 2026 and first production by Q2 2028.

Financial and operational highlights

• DFS outlines a robust project with US$1.6bn post-tax NPV5% and 46% IRR at US$2,400/oz gold price; NPV rises to US$2.9bn and IRR to 73% at US$3,300/oz.

• Initial capital cost of US$463m, with payback in less than 2 years; competitive AISC of US$1,057/oz and C1 cash costs of US$841/oz.

• Average annual free cash flow of over US$250m at US$2,400/oz, increasing to over US$400m at US$3,300/oz.

• Production plan features open pit and underground mining, with a 4.5Mtpa processing plant and average recovery of 92.8%.

• Project ranks among Africa’s top gold developments for both scale and capital efficiency.

Resource and exploration potential

• Bankan hosts 5.53Moz mineral resource (103.6Mt @ 1.66g/t) and 2.95Moz ore reserve (51.6Mt @ 1.78g/t), with significant exploration upside.

• NEB deposit is the main orebody, with 3.99Moz open pit resource and 896koz high-grade underground resource; BC deposit adds 487koz.

• Additional inferred resources at Fouwagbe (119koz) and Sounsoun (34koz) highlight regional potential.

• Ongoing exploration targets near-resource and regional prospects, with multiple high-grade intercepts and potential for satellite deposits.

• Bankan is benchmarked as a top-tier global gold asset for both grade and resource size.