Minerals 260 (MI6) Investor presentation summary

Project overview and strategy

• Bullabulling Gold Project resource increased from 2.3Moz to 6.2Moz in 15 months, making it one of Australia’s largest undeveloped gold resources and reserves not owned by a producer.

• Maiden Ore Reserve of 2.5Moz underpins a 19-year mine life, with 85% of Indicated Resources converted to Probable Reserves.

• Stage 1 PFS outlines a 5Mtpa operation, with infrastructure designed for potential expansion to 7.5Mtpa and production growth to 200kozpa.

• Early construction activities, including village and water infrastructure, commenced in May 2026.

• DFS and FID targeted for Q1 CY2027, with first gold production expected in Q4 CY2028.

Financials and funding

• Post-tax NPV5 of A$2.3B, IRR of 43%, and a two-year payback period based on Stage 1 PFS.

• Average annual EBITDA of A$510M and free cash flow of A$330M over a 19-year operating life.

• A$560M construction capital plus A$180M pre-FID capital and A$115M pre-production operations.

• Franco-Nevada committed A$220M (A$170M royalty, A$50M equity), marking its largest Australian investment.

• Debt funding process advancing with multiple banks engaged and indicative term sheets received.

Resource and exploration

• July 2026 Mineral Resource Estimate: 190Mt @ 1.0g/t Au for 6.2Moz (140Mt Indicated, 51Mt Inferred).

• Ore Reserve: 90Mt @ 0.86g/t Au for 2.5Moz, based on December 2025 MRE.

• Mineralisation remains open along strike and at depth, with ongoing drilling targeting extensions and new anomalies.

• 1,160km² of largely contiguous tenure supports further resource growth.