Rox Resources (RXL) Investor presentation summary

Development and delivery

• Construction and underground development advancing; stoping commenced at United North, with mining underway in all three declines.

• First gold pour targeted for mid-2027; production ramp-up expected from late 2027, with an initial 7-year mine life.

• Final Investment Decision reached 17 March 2026; financial close achieved in early October 2026 and first debt drawdown completed.

• Funding includes A$218M equity and committed facilities of A$300M syndicated debt, A$20M cost-overrun support and A$30M bank guarantee.

• Pre-commissioning stockpile target of 190kt at ~3.3g/t Au; stockpiling is underway.

DFS economics and design

• DFS forecasts average production of 117kozpa and 817koz gold doré over an initial 7-year life; plant capacity is 1,000ktpa versus a 900ktpa initial mine plan.

• At A$5,200/oz gold, forecast AISC is A$1,978/oz and pre-tax free cash flow is A$2.3B; at A$6,100/oz, pre-tax free cash flow is A$3.0B.

• At A$5,200/oz, NPV and IRR are A$1.4B and 69% pre-tax, and A$1.0B and 55% post-tax.

• Pre-production capital is A$383M; plant recovery is estimated at 90.8%, using fine grinding and atmospheric oxidation.

Resource base and growth

• September 2026 estimates: Mineral Resource 12.4Mt at 5.5g/t Au for 2,195koz; Probable Ore Reserve 4.8Mt at 4.7g/t for 727koz.

• DFS mine plan totals 5.7Mt at 4.9g/t Au for 900koz; the DFS production target is 817koz over 7 years.

• The 150kozpa aspiration is a strategic objective, not a production target or forecast; achievement depends on resource conversion, exploration and study outcomes, among other factors.

• Growth opportunity centers on using latent mill capacity and extending mine life beyond the DFS plan; the Resource is 2.2Moz versus 817koz in the DFS production profile.

• DFS production target is underpinned by ~80% Indicated and 20% Inferred Resources over mine life; the first four years are ~89% Indicated and 11% Inferred.