Genesis Minerals (GMD) investor relations material

Strategic rationale and merger overview

• Announced a proposed merger with Vault Minerals to create a new Australian gold major, targeting completion in November.

• The merger consolidates complementary assets in the Leonora-Laverton district, unlocking AUD 2 billion in synergy potential, with AUD 1.5 billion unique to this combination.

• Combined group will have three production centers in Western Australia, producing 600,000–700,000 oz per annum, with 34 million ounces in resources and 9.4 million ounces in reserves.

• Pro forma market cap of AUD 12.6 billion, positioning the group as a top three Australian and top 20 global gold producer.

• Genesis shareholders will own 59.8% and Vault shareholders 40.2% of the merged entity.

Operational and financial highlights

• FY 2026 standalone performance included 285,000 oz gold production at AUD 2,670/oz AISC, with AUD 899 million underlying cash flow and AUD 520 million cash at year-end.

• Tower Hill open pit advanced rapidly, with mining activities underway and first ore expected FY 2028.

• Pro forma net cash of AUD 611 million and liquidity of AUD 1.4 billion support future growth.

• The merged group will have four operating centers: Leonora, Laverton, Kalgoorlie, and Deflector.

• 25 million ounces of resources not yet in reserves, including three of the top six undeveloped open pit assets in Western Australia.

Synergy realization and operational flexibility

• AUD 715 million in capital savings by processing Tower Hill ore through King of the Hills (KOTH) mill, avoiding new mill construction.

• Lower processing costs, regional G&A efficiencies, and optimized use of existing infrastructure drive further value.

• Ability to prioritize higher grade ore, defer lower margin projects, and reallocate capital quickly based on market conditions.

• Grade streaming logic enables higher grade Tower Hill ore to displace lower grade KOTH feed, increasing gold output for the same volume processed.

• Stockpiling lower grade ore preserves future optionality in strong gold price environments.