Serabi Gold (SRB) Investor presentation summary

Strategic positioning and growth plans

• Operating in Brazil's Tapajós region, with a 20+ year track record and stable 30-40koz annual gold production, aiming to grow to ~60koz by 2026 and targeting over 100kozpa through phased expansion and exploration.

• Updated PEA confirms robust project economics, with a de-risked, organically funded growth plan and low initial capex for plant upgrades and underground development.

• Strong balance sheet with $54.3m cash and $7.1m debt as of December 2025, supporting ongoing expansion and exploration.

Operational performance and assets

• Palito Complex delivers consistent underground production, with 2026 guidance of 53-57koz Au and resources of 350koz M&I at 9.9g/t and 162koz inferred at 7.4g/t.

• Coringa Mine, acquired for $22m, is transitioning to longhole stoping in 2026, with 179koz M&I at 7.0g/t and 271koz inferred at 5.8g/t; ore sorting technology reduces costs and tailings.

• Coringa's 2024 PEA base case projects 11-year mine life, 363koz total gold production, $965/oz cash costs, and post-tax NPV5% of $184m.

Exploration and resource growth

• Brownfield drilling at Palito and Coringa in 2025-2026 aims to double consolidated resources, with updated resource estimates expected in Q1 2026.

• High-grade intercepts reported at both Palito and Coringa, with significant upside in underexplored trends and multiple new targets identified.

• Greenfield targets at Palito Complex include São Domingos (notable for a 7.15m @ 258g/t Au intercept) and Matilda (porphyry Cu-Au-Mo potential with 81Mt @ 0.28% Cu estimated).