Announcement PDF AGM Presentation 21 November 2025 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. 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. 2 Disclaimer PRODUCTION TARGETS CAUTIONARY STATEMENT The Ore Reserve and Mineral Resource estimates underpinning the Stockman Production Targets were prepared by a Competent Person in accordance with the JORC Code 2012. The material assumptions on which the Production Targets are based is set out in Appendix C of the ASX Release of Aeris dated 28 April 2022 “Transformational Acquisition and Capital Raise” (Initial Report). Aeris confirms that all material assumptions underpinning the production targets in the Initial Report continue to apply and have not materially changed. The modifying factors used in the estimation of the Ore Reserve were also applied to the Mineral Resources in the generation of the Production Targets. 3 Australian mid-tier, base and precious metals producer Aeris Resources 2 producing operations (FY26: 40-49kt copper eq.)1 3 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. 1. As at 18 November 2025 2. Cash at 30 Sep 2025 plus net placement proceeds less repayment of $40M WHSP term facility and fees 3. As at 30 June 2025 Corporate overview 5 CAPITALISATION Market capitalisation1 $488 million Cash2 $62 million Debt - Tax Losses3 $434 million Michele Muscillo Non-Executive Director Colin Moorhead Non-Executive Director Robert Millner Non-Executive Director Senior Executives Board of Directors Andre Labuschagne Executive Chairman MAJOR SHAREHOLDERS Washington H. Soul Pattinson 26.4% Tudor Court 7.1% AIS SHARE PRICE BROKER COVERAGE Paul Harris COO Cameron Schubert CTO Larnie Roberts CPO Dane van Heerden CFO $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 Brad Cox EGM Exploration Equity raise overview 6 Placement completed raising $80 million gross proceeds SPP underway, targeting $10 million Use of proceeds:  Repayment of WHSP debt (done) • Additional exploration drilling at Cracow • Bring forward early works at Constellation into FY26 to de-risk development • Resource extension drilling at Tritton • General working capital Strong balance sheet with no debt SPP Event Date Record Date for SPP Offer 7.00pm Thursday, 30 October 2025 Closing date of SPP 5.00pm Tuesday, 2 December 2025 Announcement of results of SPP Friday, 5 December 2025 Allotment and issue of New Shares under the SPP Before 12:00pm, Tuesday, 9 December 2025 CASH AND RECEIVABLES $22.7m $49.5 MILLION Net Profit $69.5m $45.2 MILLION FY25 Snapshot INCREASED REVENUE $37m $577.1 MILLION $160.5 Capital investment $104.9 MILLION Results compared to FY24 42.1kt Cu produced FY24 WITHIN GUIDANCE 24.9kt 55.2koz Cu eq Au produced 185.2kozAg produced Lower production offset by increased pricing $2m MILLION INCREASED EBITDA $68.6m Down 2.3kt Down 55koz Down 0.1koz Exploration $18-23 MILLION Starting cash and receivables2 $49.5 MILLION FY26 Guidance Mine operating costs MILLION Sustaining capital $57-70 MILLION Growth capital MILLION Compared to FY25 results 40-49kt Cu produced 24-29kt 44-56koz Cu eq1 Au produced 240-293koz Ag produced $302-369 $65-80  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 reasonable potential to be recovered and sold. 2. Unaudited 9 Aeris strategy for FY26 9 Realise value for shareholders 01 Sell non-core assets 02  Divesting North Queensland exploration assets for total consideration up to $15.5M1 • Completion expected Dec 2025 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 by August 26  Assets sales  Consider hedging strategy Unlock Stockman 04  Finalise Albion test work • Update study Dec • Concept study on acid production • Find partner to invest to Final FS 03 Jaguar strategy  Focus on +10 year life • Reduce care and maintenance • Test base metals targets • Potential to JV gold 1. Refer to ASX release “Agreement to Divest North Queensland Copper Assets”, 27 October 2025 New South Wales Tritton 11 1. Refer to Appendix for categories of the Mineral Resource; see also ASX announcements "Group Mineral Resource and Ore Reserve Statement" dated 22 July 2025. 2. To midpoint of guidance Strategic, cornerstone asset Tritton Strategic location in the Cobar region of NSW ~450kt copper produced since operations began in 2005 and over 300kt still in Resource1 2,330km2 prospective tenement package FY26 guidance of 24 – 29kt Cu, a 37% improvement on FY252 Excess mill capacity longer term – ability to expand copper output with new mines and regional deposits Increasing Tritton production Operational performance FY26 guidance of 24 – 29kt,up 37%1 on previous year Stockpiled ore from Murrawombie Pit will enable mill to run at 2Mtpa rate2 (above nameplate capacity) Sustaining material improvements in key production enablers in FY26 Potential for additional production from high grade Avoca Tank extensions to offset lower grade open pit ore and further increase Cu tonnes Prioritising Constellation project development to maintain higher copper production in future years 12 1. To midpoint of guidance 2. In July 25 and H2 FY26 0 5 10 15 20 25 30 FY23 FY24 FY25 FY26 Guidance Cu Produced (kt) Murrawombie Pit Murrawombie Pit ore to provide approx. 35% FY26 mill feed Murrawombie Pit Stage 1 ore processing complete and Stage 2 waste stripping underway to deliver ore in Jan 2026 Waste from cut back used to concurrently cap old heap leach pads, saving c.$8M rehabilitation costs High open pit mining rates in the second half of the year result in an ore stockpile of over 900kt to be processed in FY27 13 Waste stripping in first half of year with ore delivery in second half 1. Chart is provided to provide a visual representation of the proportion of ore mined from open pit and underground sources and should not be considered guidance UG Open Pit Mill Capacity Tritton Mined Ore1 14 Potential long-life mine to commence in FY27 Constellation Large Mineral Resource defined: 7.6Mt of 2.01% Cu and 0.66g/t Au containing 153kt copper and 161koz gold1 Maiden Ore Reserve declared for open pit material: 2.3Mt at 2.0% Cu, 0.6g/t Au2 Reserve excludes high-grade Inferred resource within the pit shell: 0.6Mt at 3.2% Cu, 0.5g/t Au Ore Reserve supports a 5-7 year open pit mine life, with studies underway on a potential underground operation Major capital spend to start in FY27 following EIS and mining license approval, expected in Q3 FY26 1. See ASX release “Aeris Delivers Material Increase in Copper and Gold at Constellation” 31 March 2025. Comprises Indicated resource of 5.3Mt at 1.8% Cu, 0.7g/t Au, and Inferred resource of 2.3Mt at 2.6% Cu, 0.7g/t Au 2. Probable Reserve. Refer to ASX release “Maiden Open Pit Ore Reserve Estimate for Constellation Project”, 28 October 2025. Ore Reserve pit shells showing Indicated and Inferred Resource from the March 2025 MRE Ramping up drilling at Tritton Extend mine lives Strong focus on Mineral Resource growth at multiple deposits ~80,000m underground diamond drilling planned in FY26 Target depth extensions at Avoca Tank, Budgerygar and Tritton 15 - 20,000 40,000 60,000 80,000 100,000 FY20 FY21 FY22 FY23 FY24 FY25 FY26F Underground Drill Metres 16 16 All current ore sources still open at depth Mine Life Growth Cracow Queensland 18 High margin gold mine with long operating history Cracow Underground gold mine in continuous production since 2004 Conventional crush and grind CIP processing plant Produced +1.7Moz gold since first production in 2004 FY26 guidance 36 – 46koz Au Strong history of resource replacement through exploration 1. See each annual Group Mineral Resource and Ore Reserve Statement within the Annual Report for Aeris Resources Ltd on the company’s website. Details for individual categories of mineralisation are also provided. Also refer to ASX announcement "Group Mineral Resource and Ore Reserve Statement" dated 22 July 2025 - 100 200 300 400 500 600 700 800 FY21 FY22 FY23 FY24 FY25 koz Au Cracow production and Resources1 under Aeris ownership Annual Production Cumulative Production Resources Golden Plateau Exploration 19 1. Vigar, A.J, 1994 Grade Modelling Reconciled to Open Pit Mining at the Golden Plateau Mine, Cracow, Queensland. AusIMM Student Conference – Pathway to Industry page 49-54. 2. Refer to ASX announcement "Quarterly Report – June 2025" 3. Refer to ASX announcement "Group Mineral Resource and Ore Reserve Statement“ 17 June 2024." ~850koz produced via open-pit and underground (~260m below surface) Open-pit proportion 190koz1 from remnants to ~120m below surface) Investigating large, lower grade mineralised halo around old stoping areas below the Golden Plateau pit2 A majority of the Mineral Resource3 positioned south and west of the open-pit Key exploration target for FY26 Greenfield targets Exploration 20 Targeting a +1Moz Western Vein Field analogue at the Southern Vein Field Airborne magnetic survey completed to aid finalisation of drill targets under 500m cover Drilling planned for FY26 to test geology model and identify prospective structures (limited historical drilling) Western Frontier is an interpreted structural corridor approx. 1km west of current UG infrastructure within existing mining lease boundary Potential to also drill Western Frontier structure in FY26 targeting multiple +100koz shoots Projects Jaguar Stockman Reducing holding costs while undertaking low cost, high return exploration Revised Jaguar strategy Strategy is to focus on +10 year life operations Pausing feasibility study while further exploration is undertaken 8 high priority base metals drill targets to be tested $3.1 million exploration program planned for FY26 Numerous gold targets – investigating options to joint venture gold rights to advance exploration while minimising Aeris spend 22 23 1. Thunderbox Reported Mineral Resource at 31 March 2025. Refer to Northern Star Resources ASX Announcement "Resources, Reserves and Exploration Update" 15 May 2025. 2. King Of The Hills Reported Mineral Resource at 30th April 2025. Refer to Vault Minerals ASX Announcement "KOTH OP Ore Reserve accelerates Leonora Plant Upgrade" 26 May 2025. Highly prospective for gold mineralisation Jaguar Very significant gold endowment in the region 4.7Moz Thunderbox Operation1 located 8km north of the Jaguar tenements, 3.5Moz King of the Hills mine2 located 10km west Jaguar tenements highly prospective but had limited exploration Several advanced prospects including Heather Bore; a 2km long, shallow gold anomaly Consider partnering to unlock long term value Unlock Stockman High-grade Ore Reserve of 9.6Mt at 1.9% Cu, 4.3% Zn, 1.0g/t Au, 36g/t Ag1 Multiple processing routes assessed along with detailed cost estimates Potential to create a long life, high value operation Considering options to bring on a strategic partner to assist with funding and ongoing technical work Holding costs minimal 24 1. Probable Ore Reserve. Refer to ASX announcement "Group Mineral Resource and Ore Reserve Statement" dated 22 July 2025 Currawong mine plan Australian mid-tier, base and precious metals producer Summary 2 producing operations (FY26: 40-49kt copper eq.)1 3 development projects Investing in exploration Substantial copper production and metal inventory Excellent platform for growth 25 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 27 Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22 July 2025. Excludes Constellation open pit Probable Ore Reserve of 2.3Mt at 2.0% Cu, 0.6g/t Au, 3.0g/t Ag. Refer to ASX release “Maiden Open Pit Ore Reserve Estimate for Constellation Project”, 28 October 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 - (At 31 Dec 2024) Group Mineral Resources 28 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 Refer to ASX announcement “Group Mineral Resource and Ore Reserve Statement” dated 22 July 2025 (At 31 Dec 2024) 29 29 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 - 369 341.4 Care and maintenance $M 6 - 7 10.8 Corporate $M 21 - 26 26.0 Capital Costs Sustaining $M 57 - 70 69.4 Growth & projects $M 65 - 80 38.6 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 - 253 198.6 Capital Costs Sustaining $M 39 - 48 52.5 Growth $M 58 - 71 35.5 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