Announcement PDF Q3 FY26 Results 29 April 2026 Presented by: Andre Labuschagne Disclaimer This investor presentation has been prepared by Aeris Resources Limited (“Aeris” or the “Company”). By attending an investor presentation or briefing, or accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out below. SUMMARY INFORMATION This presentation is for information purposes only and should be read in conjunction with the most recent financial reports and other documents lodged by Aeris with the Australian Securities Exchange (“ASX”) in connection with its continuous disclosure obligations. This presentation does not purport to contain all of the information that an investor should consider when making an investment decision nor does it contain all of the information which would be required in a product disclosure statement or prospectus prepared in accordance with the requirements of the Corporations Act. No reliance should be placed on the information or opinions contained in this presentation, which are provided as at the date of this presentation (unless otherwise stated) and to the maximum extent permitted by law, Aeris has no obligation to update the information contained in this presentation. An investment in securities is subject to known and unknown risks, some of which are beyond the control of Aeris. Investors should consult with their own legal, tax, business and/or financial advisors in connection with any acquisition of securities. FINANCIAL INFORMATION All financial information set out in this presentation is expressed in Australian Dollars unless stated otherwise. Investors should be aware that certain financial measures included in this presentation are “non-IFRS financial information” under ASIC Regulatory Guide 230: “Disclosing non- IFRS financial information” published by ASIC and also “Non-GAAP financial measures” within the meaning of Regulation G under the US Securities Exchange Act of 1934 and are not recognised under the AAS or IFRS. Aeris believes the non-IFRS financial information and non-GAAP financial measures provide useful information to users in measuring the financial performance and condition of Aeris. However, investors should note that the non-IFRS financial information and non-GAAP financial measures do not have standardised meanings prescribed by AAS or IFRS. Therefore, the non-IFRS financial information is not a measure of financial performance, liquidity or value under the IFRS and may not be comparable to similarly titled measures presented by other entities, nor should the information be construed as an alternative to other financial measures determined in accordance with AAS or IFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial information included in this presentation. FUTURE PERFORMANCE AND FORWARD-LOOKING STATEMENTS This presentation contains certain ‘forward-looking’ statements, opinions and estimates, which are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks and uncertainties beyond the control of Aeris and its officers. This includes statements about market and industry trends, which are based on interpretations of current market conditions. Indications of, and guidance on, future earnings and financial position and performance are forward-looking statements. As are statements containing the words “expect”, “anticipate”, “estimate”, “intend”, “believe”, “guidance”, “should”, “could”, “may”, “will”, “predict”, “plan” and other similar expressions. Forward-looking statements are based on information available to Aeris as at the date of this presentation and should not be relied upon as an indication or guarantee of future performance. Except as required by law or regulation (including the ASX Listing Rules), none of Aeris, its representatives or advisers undertakes any obligation to provide any additional or updated information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise. Investors are strongly cautioned against placing undue reliance on forward-looking statements, especially considering the current economic climate and significant volatility, uncertainty and disruption caused by recent world events such as the COVID-19 pandemic and international hostilities and associated economic changes. DISCLAIMER To the maximum extent permitted by law, Aeris and each of its respective related bodies corporate, shareholders and affiliates, and each of their respective officers, directors, partners, employees, representatives, affiliates, agents, consultants and advisers (each a “Limited Party”): • expressly disclaim any and all responsibility and liability (including, without limitation, any liability arising from fault, negligence or negligent misstatement) for any direct, indirect, consequential or contingent loss or damage arising from this presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this presentation; • disclaim any obligations or undertaking to release any updates or revisions to the information in this presentation and; • do not make any representation or warranty, express or implied, as to the accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this presentation or that this presentation contains all material information about Aeris or the Transaction or that a prospective investor or purchaser may require in evaluating a possible investment in Aeris or acquisition of shares in Aeris, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement. 2 Disclaimer NO NEW INFORMATION STATEMENT This presentation refers to Exploration Results, estimates of Mineral Resources and Ore Reserves contained in the Group Mineral Resource and Ore Reserve Statement as at 31 December 2024 (announced on 22 July 2025 “Group Mineral Resource and Ore Reserve Statement”), as well as an Ore Reserve Estimate for Constellation (announced on 28 October 2025, “Maiden Open Pit Ore Reserve Estimate for Constellation Project”) and prior market announcements released by Aeris, (Prior Reports). The Prior Reports are footnote referenced in this presentation and available from: https://www.aerisresources.com.au/investor. Aeris confirms that it is not aware of any new information or data that materially affects the information included in the Prior Reports and, in the case of Exploration Results, estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the results or estimates in the Prior Reports continue to apply and have not materially changed. Aeris confirms that the form and context in which the Competent Person’s findings are presented in this document have not been materially modified from the Prior Reports. NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES This Presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The securities referred to in this Presentation have not been, and will not be, registered under the US Securities Act of 1933 (the "US Securities Act") or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, to any person in the United States or to any person acting for the account or benefit of a person in the United States unless they have been registered under the US Securities Act (which Aeris has no obligation to do or to procure) or are offered or sold pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and any applicable securities laws of any state or other jurisdiction of the United States. 3 Australian mid-tier, base and precious metals producer Aeris Resources 2 producing operations (FY26: 40-49kt copper eq.)1 Multiple development projects Investing in exploration Substantial copper production and metal inventory Excellent platform for growth 4 1. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t) Assumed average commodity prices FY26: US$9,429/t Cu, US$3,241/oz Au, US$35/oz Ag. Aeris confirms that it is the Company’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. 5 Continuing to Deliver on Aeris’ FY26 Strategy 5 Realise value for shareholders 01 Sell non-core assets 02  Divested North Queensland exploration assets for total consideration up to $15.5M(1)  Completion Q3 FY26 Operational Delivery Tritton  Murrawombie Pit • Constellation on time • Resource extension • LOM Cracow • Golden Plateau • Resource extension • LOM 05 Growth • Focus on life extensions through greenfield exploration  Consider external opportunities Balance Sheet 06  Repay debt  Assets sales  Consider hedging strategy Unlock Stockman 04 • Update feasibility study 03 Jaguar strategy  Explore to increase resource base • Reduce care and maintenance • Test base metals targets 1. Refer to ASX release “Agreement to Divest North Queensland Copper Assets”, 27 October 2025. 6 Key points for Q3 FY26 6 Cash and receivables up to $149.8M Cash flow from operations up 72% to $75.8M for the quarter Group Cu eq1 production of 10.4kt for the quarter at AISC of A$4.86/lb Cu eq Costs well managed – limited impact from diesel pricing Aeris to acquire South Cobar Copper Project from Peel Mining to create long-life copper mining hub Tritton copper production slightly lower than revised plan due to lower mined grade from open pit and underground Murrawombie Pit now delivering Stage 2 ore, with the Tritton mill operating at nameplate capacity Constellation Project – early works to commence in Q4 to derisk FY27 Cracow – gold production of 10.1koz on plan Golden Plateau exploration program at Cracow expanded with drilling returning multiple high-grade intersections Strong cash generation and Tritton set up for Q4 1. Refer to ASX release March 2026 Quarterly Activities Report for production detail. CuEq = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t) Q3 prices US$12,852/t Cu, US$4,877/oz Au, US$84/oz Ag 7 7 Quarter Cash Flow March Quarter Group Cash Flow ($M) Strong operating cash flow supported by higher commodity prices 1. OCF = operating cash flow 2. Finance and other includes gold hedging 88 56 39 (41) (3) (5) 5 (20) 119 8 8 YTD Cash Flow YTD Group Cash Flow ($M) 1. OCF = operating cash flow 2. Proceeds from Equity Raise are net of direct costs 3. Finance and other includes gold hedging 28 138 94 (124) 97 (9) (16) (40) 5 (54) 119 Tritton NSW Increased mined tonnes but lower grades Q3 FY26 results Production of 5.3kt Cu at AISC of A$4.53/lb 62% increase in tonnes mined although copper production slightly below plan due to lower mined grades 63kt ROM ore stockpiled at end of quarter, derisks Q4 FY26 production forecast to be within low end of guidance Costs well managed – limited impact from diesel pricing 10 Production Summary Unit Sep 25 Qtr Dec 25 Qtr Mar 26 Qtr YTD FY26 Guidance Ore Mined kt 284.7 245.1 392.6 922.4 Mined Grade % Cu 1.98 2.16 1.49 1.82 Ore Milled kt 358.3 251.8 326.0 936.0 Milled Grade % Cu 1.80 2.08 1.74 1.85 Recovery % Cu 95.0 95.7 93.9 94.9 Copper Produced kt 6.1 5.0 5.3 16.5 24 – 29 Gold Produced koz 2.0 1.8 2.2 6.0 8 – 10 Silver Produced koz 72.2 36.6 55.5 164.3 215 – 263 Cost Summary Mining A$M 28.0 27.2 32.1 87.3 Processing A$M 8.6 8.6 8.8 26.0 Site G&A A$M 6.1 6.3 6.5 18.8 TC/RCs A$M 1.5 1.2 1.5 4.2 Product Handling A$M 5.3 3.5 6.3 15.1 Total Mine Operations A$M 49.5 46.8 55.3 151.5 207 – 253 By-Product Credit A$M (14.8) (13.2) (22.9) (50.8) Royalties A$M 3.6 3.0 4.6 11.2 Corporate G&A A$M 0.5 0.5 0.5 1.6 Inventory Movements A$M 4.0 (6.8) 2.4 (0.3) Sustaining Capital A$M 14.3 13.2 13.2 40.8 39 – 48 All-In Sustaining Costs A$M 57.3 43.6 53.1 154.0 A$/lb 4.24 3.94 4.53 4.24 Growth Capital A$M 25.6 23.3 20.9 69.9 58 – 71 Exploration A$M 1.8 0.7 1.8 4.3 10 – 12 All-In Costs A$M 84.7 67.6 75.9 228.2 A$/lb 6.27 6.12 6.48 6.29 Delivering Stage 2 ore Murrawombie Pit Pit moved into Stage 2 ore late in Q3 Increased ore supply now enabling Tritton mill to run at nameplate capacity in Q4 Lower grade transitional ore also impacted recoveries but pit now in primary sulphide material Rehabilitation of old heap leach pads using open pit waste is progressing to plan No further growth capital forecast for the pit now it is mining ore 11 Project development on track for operations Q1 FY27 Constellation Early construction works approved to commence in May, starting with the haul road and services corridor to site $10-15 million planned project capital will be brought forward from FY27 to Q4 FY26 to derisk development Capital to be funded with operational cash flow Updated mine design comprises smaller, two-stage open pit, to enhance cash flow and provide more consistent ore feed Permitting and approvals on track – mining lease expected to be granted in Q4 FY26 to support the commencement of open pit operations in Q1 FY27 12 Constellation 2-stage pit and underground design Targeting updated MRE in Q4 Tritton exploration Avoca Tank – drilling continues to intersect mineralisation outside the boundaries of the current Mineral Resource1 Drilling to continue at Avoca Tank through Q4 to inform an updated Mineral Resource Budgerygar – resource definition drilling is focused on conversion of Inferred resource to Indicated as well as testing extensions below the current resource Resource definition drilling also underway at South Wing, an inferred resource located directly along strike from the Tritton deposit and close to existing UG infrastructure Targeting updated Mineral Resource estimates and exploration update for Q4 13 1. Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22nd July 2025 Cracow Queensland Q3 FY26 results Gold production 10.1koz in line with plan, at AISC of A$3,442/oz Costs well managed and on budget Cracow remains on track for mid-point of guidance range for FY26 Drilling program at Golden Plateau expanded following successful results 15 Quarter production on plan, costs on track Production Summary Unit Sep 25 Qtr Dec 25 Qtr Mar 26 Qtr YTD FY26 Guidance Ore Mined kt 142.3 150.9 137.1 430.3 Mined Grade g/t 2.16 2.49 2.40 2.35 Ore Milled kt 154.3 157.3 155.3 466.9 Milled Grade g/t 1.98 2.43 2.23 2.22 Recovery Au 90.4% 90.5% 90.6% 90.5% Gold Produced koz 8.9 11.1 10.1 30.1 36 – 46 Gold Sold koz 8.8 11.0 10.1 29.9 Cost Summary Mining A$M 19.6 16.2 17.6 53.4 Processing A$M 7.2 7.1 7.7 22.0 Site G&A A$M 2.8 2.9 3.5 9.2 Total Mine Operations A$M 29.6 26.3 28.8 84.6 95 – 116 By-Product Credit A$M (0.5) (0.5) (0.7) (1.7) Royalties A$M 2.6 3.7 3.6 9.9 Corporate G&A A$M 0.4 0.4 0.4 1.3 Inventory Movements A$M (1.9) 0.9 (1.8) (2.8) Sustaining Capital A$M 2.3 5.4 4.4 12.1 18 – 22 All-In Sustaining Costs A$M 32.5 36.1 34.7 103.3 A$/oz 3,692 3,278 3,442 3,455 Growth Capital A$M 5.5 2.1 0.6 8.2 6 – 8 Exploration A$M 1.0 0.7 3.4 5.2 5 – 7 All-In Costs A$M 39.0 38.9 38.8 116.7 A$/oz 4,437 3,528 3,841 3,901 Golden Plateau exploration 16 Drilling increasing confidence in future open pit opportunity 1. Refer to ASX releases Golden Plateau Drill Program More Than Doubled as High Grade Drill Results Continue, dated 30 March 2026, and Significant Gold Intersections from Golden Plateau Drilling, dated 9 February 2026 for more information. 2. Estimated true thickness Drill program underway to test remnant mineralisation around historic stoping areas Program expanded to approximately 14,000m Total of 32 holes completed, with assays returned for 15 Key intersections include1: GPS140 34.5m2 at 3.1g/t Au (South lode) GPS134 7.1m2 at 4.9g/t Au (West lode) GPS139B 6.8m2 at 4.2g/t Au (West lode) GPS130 5.0m2 at 12.7g/t Au (Ferneyside) GPS135 10.0m2 at 2.9g/t Au (Sunnyside) Projects Q3 FY26 activities Jaguar – drill rig mobilised for base metals exploration program to test 8 high priority targets (drilling commenced in April) Stockman – updating feasibility study for public release in early FY27 North Queensland – divestment completed for cash consideration of $5M plus the release of ~$6.5M from cash backed environmental bonds 18 Project updates 19 Corporate Closing cash and receivables increased to $149.8 million Restricted cash held against environmental bonds $17.7 million Cash flow from operations strong at $75.8 million, a 72% increase quarter-on-quarter, supported by higher commodity prices 5.5koz remain to be delivered into the Cracow gold hedge Acquisition of Peel Mining announced 12 February is underway. Shareholder meeting to approve the scheme and demerger is expected to occur in mid-June 2026, with final implementation anticipated in early July (A$ Million) Sep 25 Dec 25 Mar 26 QTR QTR QTR Closing cash 32.0 87.9 119.1 Tritton - copper concentrate receivables 14.4 18.4 30.7 Useable Cash and Receivables 46.4 106.4 149.8 (A$ Million) Sep 25 Dec 25 Mar 26 QTR QTR QTR Opening cash 28.2 32.0 87.9 Cash flow from operations 53.1 44.0 75.8 Cash flow from capital expenditure (46.6) (43.8) (41.7) Cash flow from financing (2.7) 55.8 (3.0) Closing cash 32.0 87.9 119.1 Peel Transaction Tenements to be acquired: 1,479km2 21 314 122 75 Tritton Mallee Bull Wirlong 21 Strategic Acquisition to Transform Tritton Measured & Indicated Resources (Contained Cu kt) Inferred Resources (Contained Cu kt) Grade (Cu %) 1.7% 1.9% 1.8% 1. Refer to the Appendix for a breakdown of the underlying Mineral Resource and Ore Reserve Statements. Mineral Resources are inclusive of Ore Reserve. South Cobar Copper Project resources to extend Tritton mine life Significant growth upside for Aeris and Peel shareholders, with both projects open at depth Peel assets to benefit from Aeris’ operational skills and existing Tritton mill and infrastructure Mallee Bull to be prioritised as a near term, high-grade base load ore source Aeris to acquire Peel’s South Cobar Copper Project (Mallee Bull + Wirlong) via Scheme of Arrangement Tritton mine life to be underpinned by base load feed from Constellation and Mallee Bull Mallee Bull expected to be fully permitted for stoping and ore transport in H2 FY291 Aeris to release integrated life of mine plan aiming for a +10 year mine life within the next 6 months1 Potential cost benefits from increased throughput and maximising mill capacity Wirlong has potential to become another future ore source – following further resource definition drilling and studies Extending Tritton’s mine life 22 Increasing mine life by combining Tritton’s processing capacity with Mallee Bull high-grade ore 1. Subject to feasibility study, NSW Government Mining Activity Approval and FID. Tritton Copper Production (kt) 24 17 20 19 29 FY23 FY24 FY25 FY26 Guidance Constellation Other Tritton Mallee Bull Wirlong Current Producing Deposits M+I: 65kt Inferred: 26kt Contained Copper Resources(2) M+I: 94kt Inferred: 60kt M+I: 108kt Inferred: 14kt M+I: 21kt Inferred: 44kt M+I: 44kt Inferred: 31kt Guidance Range 2. Refer to the Appendix for a breakdown of the underlying Mineral Resource and Ore Reserve Statements. Mineral Resources are inclusive of Ore Reserve. Current Producing Deposits include Tritton, Avoca Tank, Murrawombie and Budgerygar. Other Tritton includes South Wing, Tritton Remnants, Budgery, Kurrajong and ROM Stockpiles. 23 23 Indicative Transaction Timeline Timeline Indicative Date Scheme and Demerger Timeline First Court Date for Scheme Early May 2026 Scheme Booklet sent to Peel shareholders Early May 2026 Scheme Meeting of Peel Shareholders to approve Scheme and Demerger Mid June 2026 If the Scheme and Demerger are approved by Peel shareholders Second Court Date Mid to late June 2026 Effective Date Mid to late June 2026 Scheme and Demerger Record Date Late June 2026 Demerger implementation (transfer of NewCo shares) Late June 2026 Implementation Date for Scheme Early July 2026 Proposed NewCo ASX listing (subject to ASX and other required approvals) Q3 CY26 Scheme Booklet expected to be dispatched to Peel shareholders in early May 2026, ahead of a Scheme Meeting in mid June 2026 and transaction completion by early July 2026 Note: The dates referred to above are indicative and may change. Australian mid-tier, base and precious metals producer Aeris Resources 2 producing operations (FY26: 40-49kt copper eq.)1 Multiple development projects Investing in exploration Substantial copper production and metal inventory Excellent platform for growth 24 1. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t) Assumed average commodity prices FY26: US$9,429/t Cu, US$3,241/oz Au, US$35/oz Ag. Aeris confirms that it is the Company’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. Appendix Group Ore Reserves 26 As at December 2024. Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22 July 2025 BASE METALS Category Tonnes (‘000) Grade Contained Metal Asset Cu (%) Zn (%) Au (g/t) Ag (g/t) Cu (kt) Zn (kt) Au (koz) Ag (koz) Tritton Proved 100 0.7 - - - 1 - - - Probable 2,280 1.6 - 0.3 6 36 - 23 444 Total 2,380 1.5 - 0.3 6 37 - 23 444 North Qld Proved - - -- - -- - - - - Probable 1,600 1.9 - 0.2 - 30 - 9 - Total 1,600 1.9 - 0.2 - 30 - 9 - Stockman Proved - - - - - - - - - Probable 9,640 1.9 4.3 1.0 37 183 413 318 11,409 Total 9,640 1.9 4.3 1.0 37 183 413 318 11,409 Total Total Proved 100 0.7 - - - 1 - - - Total Probable 13,530 1.8 3.1 0.8 27 249 413 350 11,853 Grand Total 13,630 1.8 3.0 0.8 27 249 413 350 11,853 GOLD Category Tonnes (‘000) Grade Contained Metal Asset Cu (%) Zn (%) Au (g/t) Ag (g/t) Cu (kt) Zn (kt) Au (koz) Ag (koz) Cracow Proved 145 - - 3.0 - - - 14 - Probable 360 - - 2.9 - - - 33 - Total Grand Total 505 - - 2.9 - - - 48 - Group Mineral Resources 27 BASE METALS Category Tonnes (Mt) Grade Contained Metal Project Cu (%) Zn (%) Au (g/t) Ag (g/t) Cu (kt) Zn (kt) Au (koz) Ag (koz) Tritton Measured 0.4 1.0 - 0.1 2 4 - 1 30 Indicated 11.0 1.6 - 0.4 4 179 - 158 1,270 Inferred 7.5 1.8 - 0.3 4 131 - 73 840 Total 18.9 1.7 - 0.4 4 314 - 233 2,140 Jaguar Measured 0.5 1.6 5.0 0.3 63 8 25 4 1,030 Indicated 4.2 1.4 6.4 0.4 67 59 268 53 8,950 Inferred 2.0 1.1 6.5 1.0 83 23 128 62 5,260 Total 6.6 1.4 6.3 0.6 71 90 422 119 15,240 North Qld Measured 0.2 2.3 - 0.5 0 5 - 3 0 Indicated 2.4 2.0 - 0.2 3 47 - 16 210 Inferred 0.6 2.0 - 0.1 2 12 - 2 30 Total 3.2 2.0 - 0.2 2 64 - 21 240 Stockman Measured - - - - 0 - - - 0 Indicated 13.4 2.1 4.2 1.0 37 288 561 420 16,000 Inferred 2.4 1.1 2.6 1.5 32 27 62 117 2,440 Total 15.8 2.0 4.0 1.1 36 315 624 537 18,450 Total Total Measured 1.1 1.5 2.3 0.2 29 17 25 9 1,060 Total Indicated 31.0 1.9 2.7 0.6 27 574 829 647 26,440 Total Inferred 12.4 1.6 1.5 0.6 22 193 191 254 8,580 Grand Total 44.5 1.8 2.3 0.6 25 784 1,045 910 36,070 GOLD Category Tonnes (Mt) Grade Contained Metal Asset Au (g/t) Ag (g/t) Au (koz) Ag (koz) Cracow Measured 0.4 4.0 3 46 37 Indicated 1.9 3.6 4 224 229 Inferred 2.1 2.6 4 181 305 Total Grand Total 4.4 3.2 4 452 571 As at December 2024. Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22 July 2025 28 28 1. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t) Assumed average commodity prices FY26: US$9,429/t Cu, US$3,241/oz Au, US$35/oz Ag. FY25 as detailed in quarterly reports. Aeris confirms that it is the Company’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. 2. Excludes royalties FY26 Guidance Group FY26 Guidance FY25 Actual Production Copper kt 24 - 29 24.9 Gold koz 44 - 56 55.2 Silver koz 240 - 293 185.2 Copper equivalent1 kt 40 - 49 42.1 Operating Costs Mine operations2 $M 302 - 369 344.9 Care and maintenance $M 6 - 7 10.8 Corporate $M 21 - 26 23.6 Capital Costs Sustaining $M 57 - 70 69.4 Growth & projects $M 65 - 80 35.1 Exploration $M 18 - 23 9.8 Tritton FY26 Guidance FY25 Actual Production Copper kt 24 - 29 19.4 Gold koz 8 - 10 6.1 Silver koz 215 - 263 185.2 Operating Costs Mine operations $M 207 - 253 202.1 Capital Costs Sustaining $M 39 - 48 52.5 Growth $M 58 - 71 32.0 Exploration $M 10 - 12 2.9 Cracow FY26 Guidance FY25 Actual Production Gold koz 36 - 46 45.1 Operating Costs Mine operations $M 95 - 116 99.4 Capital Costs Sustaining $M 18 - 22 16.7 Growth $M 6 - 8 0.0 Exploration $M 5 - 7 5.3 Deposit MRE Category South Cobar Project Copper MREs as at January 2023 ($A80/t NSR cut-off) Tonnes (kt) Cu (%) Au (g/t) Ag (g/t) Zn (%) Pb (%) Cont Cu (kt) Cont Au (koz) Cont Ag (Moz) Cont Zn (kt) Cont Pb (kt) Mallee Bull Ind 5,590 1.93 0.38 27 0.13 0.21 108 68 4.85 7.3 11.7 Inf 750 1.87 0.11 21 0.04 0.08 14 2.7 0.51 0.3 0.6 Total 6,340 1.92 0.35 26 0.12 0.19 122 71 5.36 7.6 12.3 Wirlong Ind 2,290 1.92 0.03 6 0.08 0.03 44 1.9 0.47 1.9 0.6 Inf 2,010 1.54 0.03 6 0.07 0.01 31 1.7 0.37 1.4 0.3 Total 4,300 1.75 0.03 6 0.08 0.02 75 3.6 0.84 3.3 0.9 Combined Ind 7,880 1.93 0.28 21 0.12 0.16 152 70 5.33 9.2 12.4 Inf 2,760 1.63 0.05 10 0.06 0.03 45 4.4 0.87 1.7 0.9 Total 10,640 1.85 0.22 18 0.10 0.12 197 74 6.20 10.8 13.3 29 South Cobar Copper Project Resources Note: The South Cobar Project Copper MRE utilises A$80/tonne NSR cut-off mineable shapes that include minimum mining widths and internal dilution to bound the MREs. Figures are rounded to reflect the precision of estimates and include rounding errors. Refer to ASX announcement “20MT Resource Base for South Cobar Project” dated 9 January 2023.