Turaco Gold (TCG) Investor presentation summary

Ownership consolidation and transaction

• Proposed acquisition of Sodim’s remaining 20% Afema interest would lift project ownership to 100%, excluding Côte d’Ivoire Government interest; a US$3M option fee secures a three-month option.

• On option exercise, consideration includes US$30M cash, US$30M in shares priced at A$0.775 and 36.7M options; Sodim retains a 0.33% royalty, with buyback intended for US$12.5M before 30 June 2027.

• Resource-growth payments are US$3/oz for JORC resources above 5Moz within the mining permit and US$5/oz for resources on exploration permits, through June 2034.

• Acquisition increases attributable resources from 3.72Moz to 4.65Moz and removes the partner’s right to contribute or convert its interest to a 1.5% NSR at Decision to Mine.

• Consideration is presented at a 35% discount to implied market value and an 84% discount to the acquired 20% share of Afema’s PFS NPV at US$4,000/oz gold.

Equity raising and funding

• Two-tranche placement targets A$120M: A$97.1M unconditional and A$22.9M subject to shareholder approval; a planned A$10M SPP would bring the equity raise to A$130M.

• Placement price of A$0.60/share represents discounts of 12.4% to the A$0.685 closing price and 13.1% to the five-day VWAP of A$0.690.

• Proceeds and existing cash are allocated to acquisition consideration, intended royalty buyback, pre-FID development, DFS, exploration and working capital; the pro forma capital structure assumes full SPP subscription.

• Pro forma cash is A$130.4M after the assumed option fee and upfront acquisition cash payment; financing is intended to fund work through FID, targeted for mid-CY2027.

• Debt financing is being pursued alongside DFS work; the PFS estimates US$410M development capital plus US$32M pre-production mining, so further funding is required for project development.

Project economics and operating profile

• PFS estimates 6.0Mtpa fresh throughput, a +10-year mine life, 2.0Moz life-of-mine production and average annual output of 196koz; year-one production is 230koz and years 1–7 average 215kozpa.

• At US$3,500/oz gold, post-tax NPV5 is US$2.102B, post-tax IRR 79% and payback 13 months; at US$4,000/oz, post-tax NPV5 is US$2.717B, IRR 97% and payback 10 months.

• At the US$2,000/oz Ore Reserve price, cash operating cost is US$1,268/oz and AISC US$1,508/oz; the PFS estimates a 4.8:1 life-of-mine strip ratio.

• Development capital is US$410M including contingency, with capital intensity of US$2,094 per ounce of annual production; the production plan includes 87% recovery and an average feed grade above 1.2g/t in the first seven years.

• Infrastructure includes a 32km connection to grid power, a highway crossing the project area and a location 120km from Abidjan and port facilities; the project plan indicates no village relocations.