Pantoro Gold Limited · ASX:PNR
Pantoro Gold — Euroz Hartleys Institutional Investor Site Visit and Conference 2026
40 slides from Pantoro Gold's conference presentation, Mar 16, 2026
Slide 1: Euroz Hartleys Institutional Investor Site Visit and Conference
For personal use only ASX:PNR Euroz Hartleys Institutional Investor Site Visit and Conference March 2026
Slide 2: Important Notes
Important Notes For personal use only Nature of Document. This presentation has been prepared and issued by Pantoro Limited (Pantoro or Forward Looking Statements and future performance This presentation contains forward looking statements Company) to provide general information about Pantoro. about
Slide 3: Important Notes (Continued)
Important Notes (Continued) For personal use only Past performance. Past performance metrics and figures (including past share price performance of For the purposes of ASX Listing Rule 5.19, Pantoro confirms that all material assumptions underpinning the Pantoro), as well as pro forma financial info
Slide 4: Norseman growth activities accelerating
Norseman GROWTH activities accelerating For personal use only Resource Growing Gold Production Position Positioned For Growth & Reserves New, fully operational gold mining operation One Of WA’s Highest-Grade Goldfields Processing plant operating above nameplate Large Pipeline Large, capacity at 1.2
Slide 5: Strong, Experienced Team
Strong, Experienced Team For personal use only BOARD Paul Cmrlec § Mining Engineering background with >25 years experience Wayne Zekulich § Financial management, banking and accounting Managing Director § Extensive experience in feasibility, project development, Chair background operations and corpo
Slide 6: H1 FY 2026 Key Metrics
H1 FY 2026 Key Metrics For personal use only Our key focus: 41,623 oz AISC EBITDA Production $2,809/oz $135.5M ü Maintain industry leading margins and profitability. Reduces with increased production ü Responsibly deploying capital to secure long-term growth in Mineral Resources, Ore Reserves and $8
Slide 7: 100% ownership of a gold province
100% ownership of a gold province WORLD-CLASS GREENSTONE BELT HIGHLY PROSPECTIVE For personal use only SIGNIFICANT EXPLORATION UPSIDE Pantoro Gold’s tenure is situated in the The area south of Kambalda is highly Pantoro Gold’s Norseman tenure is a significant southern end of the most gold-endowed pr
Slide 8: Norseman Growth Strategy
Norseman Growth Strategy Aim to add Strategy to replace open For personal use only highest possible grades from new mines. pit feed with higher grade 1,400,000 underground ore. 1,200,000 Growth drilling underway on surface at Mainfield and 1,000,000 underground at Scotia. Scotia Reserve Target Tonne
Slide 9: Norseman Gold Project Overview
Norseman Gold Project Overview For personal use only 800 km2 First systematic exploration in three tenure decades position Exploration drilling from surface and underground re- commenced in September 2024 – yielding high-grade results. 70 km along Less than 30% of known Mineral Resource areas drille
Slide 10: Processing - Excellent Recovery and Reliability
Processing - Excellent Recovery and Reliability Comfortably running at 1.2MTPA with further increases For personal use only ● up to 1.4 – 1.5 MTPA easily achieved WITHOUT any major upgrade costs. ● Upgrades are underway. ● Excellent recovery: 95% in FY2025. ● Targeting growth through addition of hig
Slide 11: OK Underground Mine
OK Underground Mine For personal use only Ore Reserve has increased every year since mining commenced, despite ongoing depletion Producing in steady state at circa 35,000 - 40,000 Oz per annum. FY 2025 mined grade 5.83g/t Large extensional exploration drilling program underway and set to continue fo
Slide 12: Scotia Underground Mine
SCOTIA UNDERGROUND MINE For personal use only • Scotia is a large system with current mine workings extending over more than 1km of strike. Open to the North and strong potential for underground Mining of development at Green Lantern which hosts another Northern remnant 1.5km of strike. areas underw
Slide 13: Gladstone Open Pit – Mining is Underway
Gladstone Open Pit – Mining is Underway For personal use only • Gladstone lies approximately 8 km East of the Norseman processing plant. • 3.8M BCM to be excavated during stages 1 and 2 of open pit mining. • 317,000 tonnes @ 2.8 g/t Au for 28,500 oz to be mined to March 2027. Mining timeline will be
Slide 14: Gladstone Open Pit – Stage Grade Control
Gladstone Open Pit – Stage 3 Grade Control For personal use only • Stages 1 and 2 are approved by board and being mined. • Stage 3 infill and grade control drilling returning very strong results with approximately half of results outstanding. • Stage 3 adds approximately 1 year to Gladstone pit life
Slide 15: Mainfield – Major Opportunity
Mainfield – Major Opportunity use only Mainfield is the most prolific mining area at Norseman to date Crown/ Mararoa • First pass drilling completed with focus areas identified. St Pats • Drill areas focused on zones easily accessed from existing infrastructure. • Large areas unmined previously. For
Slide 16: Mainfield – Multiple additional declines to come
Mainfield – Multiple additional declines to come For personal use only Pantoro has focussed initial work on zones accessible from the Bullen Decline: O’Briens – New development announced to commence mid- 2026. Crown South – Outstanding drill results with drill programs ongoing. Mineral Resourse and
Slide 17: Crown Reef – historical production
Refer to ASX release on 13 July 2021 for details. For personal use only Crown Reef – historical production 1.1 Moz @ 11.2g/t 17
Slide 18: Plan view of Bullen, O'Briens and Crown South
Plan view of Bullen, O’Briens and Crown South For personal use only Pantoro Drill Platform Bullen Workings Recently Identified Zone Crown O’Briens South
Slide 19: Mainfield Exploration – Crown South and O'Briens
Mainfield Exploration – Crown South and O’Briens shaping up for next production centre For personal use only • Drilling has identified a substantial zone of high-grade mineralisation at Crown South with abundant visible gold noted. • Results to date include^: Ø 1.13 m @ 12.36 g/t Au. Ø 0.32 m @ 71.1
Slide 20: O'Briens Lode – Growth through drilling
O’Briens Lode – Growth through drilling For personal use only Ongoing O’Briens Drill Program ^ Refer to Appendix for geological descriptions of holes awaiting assay.
Slide 21: O'Briens Lode – Development commencing mid-2026
O’Briens Lode – Development commencing mid-2026 For personal use only Crown South Bullen Workings Dark blue area completing Take off point dewatering and O’Briens from existing rehabilitation Bullen Decline
Slide 22: Strong Initial Results in Butterfly
Strong Initial Results in Butterfly • Area above target For personal use only zone extensively mined for approximately 200m vertical. • Excellent strike rate in initial drilling. • Mineralisation only 70m from exploration decline – easy access. • Decline can be extended at any time with known minera
Slide 23: Princess Royal Underground Target
Princess Royal Underground Target Opportunities SIGNIFICANT HIGHLY PROSPECTIVE over 2kmEXPLORATION of strike UPSIDE For personal use only Pantoro Gold’s Norseman tenure is a significant • North Royal - 1.8Moz produced from North Royal Deposits. proportion of the highly prospective region, Underexplo
Slide 24: First Regional Exploration in Years
First Regional Exploration in 30 Years HIGHLY PROSPECTIVE For personal use only SIGNIFICANT EXPLORATION UPSIDE Pantoro Gold’s Norseman tenure is a significant Kambalda Norseman proportion of the highly prospective did not have any region, effective exploration including Lake Cowan which has had mini
Slide 25: Summary
Summary For personal use only Exceptional • Cash growth while building new mines and advancing growth activities. position, • H1 EBITDA A$135.5 million. strong • A$216.5 million in cash and gold. cashflow Leveraged • Debt free. to the gold • Unhedged price Positioned • Growth activities progressing
Slide 26: Mineral Resource & Ore Reserve
Mineral Resource & Ore Reserve For personal use only 26
Slide 27: Appendix – Table of Drill Results
Appendix 1 – Table of Drill Results Hole_ID Northing Easting RL Dip Azimuth End of Hole Comments Downhole Downhole Downhole Au gpt Est. True (Degrees) (Degrees) Depth (m) From (m) To (m) From (m) Thickness (m) GEVRC26_214 6439990 391691 259 -59.8 89.5 90 23 27 4 1.06 3.3 GEVRC26_214 6439990 391691 2
Slide 28: For personal use only
Hole_ID Northing Easting RL Dip Azimuth End of Hole Comments Downhole Downhole Downhole Au gpt Est. True (Degrees) (Degrees) Depth (m) From (m) To (m) From (m) Thickness (m) GEVRC26_225 6439839 391799 267 -90 90 54 NSI GEVRC26_226 6439858 391788 266 -90 90 60 NSI GEVRC26_228 6439907 391773 265 -90 9
Slide 29: Appendix – Table of Drill Results
Appendix 2 – Table of Drill Results Hole ID Depth from (m) Depth to (m) Interval (m) Geological Description/Summary Grade (g/t) OBDD26_010 354.81 360.12 5.31 Porphyry 360.12 378.37 18.25 Fine grained Pillow basalts Moderately altered basalt shearzone, with minor sericitic and carbonate alteration --
Slide 30: For personal use only
Hole ID Depth from (m) Depth to (m) Interval (m) Geological Description/Summary Grade (g/t) Assays 321.94 322.08 0.14 Quartz vein, brecciated wall rock contact, chlorite, silica, biotite Pending 322.08 322.3 0.22 Foliated biotite sheared basalt 322.3 322.48 0.18 Crystaline quartz vein with chlorite/
Slide 31: Appendix – JORC Code 2012 Edition – Table
Appendix 3 – JORC Code 2012 Edition – Table 1 Section 1: Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (eg cut channels, random chips, or specific • This release reports assay results from surface infill and extensional RC
Slide 32: For personal use only
Criteria JORC Code explanation Commentary • At Analabs the total sample was dried and milled in an LM5 mill to a nominal 90% passing -75µm. An analytical pulp of approximately 200g was sub sampled from the bulk and the milled residue was retained for future reference. All the preparation equipment w
Slide 33: For personal use only
Criteria JORC Code explanation Commentary Sub-sampling techniques • If core, whether cut or sawn and whether quarter, half or all core taken. • As of May 2025, drill core preparation and analysis is performed by Intertek at their and sample preparation analysis facility in Maddington, Perth, WA in p
Slide 34: For personal use only
Criteria JORC Code explanation Commentary Quality of assay data and • The nature, quality and appropriateness of the assaying and laboratory • The assay methods used, including fire assay with 40g charge approach total laboratory tests procedures used and whether the technique is considered partial
Slide 35: For personal use only
Criteria JORC Code explanation Commentary Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down-hole • The RC drill holes used a REFLEX GYRO with survey measurements every 5m. surveys), trenches, mine workings and other locations used in Mineral Resour
Slide 36: For personal use only
Criteria JORC Code explanation Commentary Audits or reviews • The results of any audits or reviews of sampling techniques and data. • No audit or reviews of current sampling techniques have been undertaken however the data is managed by an offsite data scientist who ensures all internal checks/proto
Slide 37: For personal use only
Criteria JORC Code explanation Commentary Geology • Deposit type, geological setting and style of mineralisation. • The Norseman gold deposits are located within the southern portion of the Eastern Goldfields Province of Western Australia in the Norseman-Wiluna greenstone belt in the Norseman distri
Slide 38: For personal use only
Criteria JORC Code explanation Commentary • The Gladstone-Everlasting mineralisation is closely associated with quartz- pyrite-pyrrhotite veining, and biotite-chlorite-pyrite-pyrrhotite alteration in the mafic rocks. Mineralised quartz-sulphide veins within the main shear zone are dominantly shear v
Slide 39: For personal use only
Criteria JORC Code explanation Commentary Balanced reporting • Where comprehensive reporting of all Exploration Results is not practicable, • All drill results available since the last public announcement are included in the representative reporting of both low and high grades and/or widths should b
Slide 40: Appendix – Compliance Statements
Appendix 4 – Compliance Statements Exploration Targets, Exploration Results The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Scott Huffadine, a Competent Person who is a Member of the Australian Institute of Geoscientis
Pantoro Gold — Euroz Hartleys Institutional Investor Site Visit and Conference 2026 on 6ix