West African Resources Ltd · ASX:WAF
West African Resources — Africa Down Under 2026
24 slides from West African Resources's conference presentation, Sep 3, 2026
Slide 1: West Africa's Growing Mid Tier Producer
For personal use only WEST AFRICA’S GROWING MID TIER PRODUCER TARGETING +500,000 oz pa GOLD PRODUCTION FROM 2027 Africa Down Under Presentation, September 2026
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE DISCLAIMER . The following notice and disclaimer apply to this presentation (Presentation) and you are advised to read this carefully before reading FINANCIAL DATA or making any other use of this Presentation or any information contained in this Presentation. All dollar values in th
Slide 3: Important Notice: Forward Looking Statements continued
IMPORTANT NOTICE FORWARD LOOKING STATEMENTS continued Rounding is applied for all Mineral Resources and Ore Reserves figures in this Presentation. In the case of WAF, these facts include, in particular operating cashflows, net profit after tax (NPAT) and future production estimates EXPLORATION RESUL
Slide 4: West Africa's Growing Mid-Tier Gold Producer
WEST AFRICA’S GROWING MID-TIER GOLD PRODUCER 100% UNHEDGED MINERAL RESOURCES AND ORE RESERVES For personal use only 2026 Mineral Ore 10 Year Exploration Market Guidance Resources Reserves Production Target Permits Capitalisation 430 - 490 koz 13.7 Moz 7 Moz 5.3 Moz +1,100 km² A$4,461m* 100% Unhedged
Slide 5: Board and Management
WEST AFRICAN RESOURCES LTD BOARD AND MANAGEMENT For personal use only Richard Hyde Lyndon Hopkins Rod Leonard Libby Mounsey Stewart Findlay Robin Romero Jayde Webb Founder, CEO and Executive Director and Independent Executive Director of Non-Executive Director Non-Executive Director Non-Executive Di
Slide 6: WAF Project Locations
WAF PROJECT LOCATIONS For personal use only 6
Slide 7: Group 10-Year Production Target
WEST AFRICAN RESOURCES LTD G R O U P 1 0 - Y E A R P R O D U C T I O N TA R G E T Mineral Resources increased to 13.7 Moz gold Ore Reserves increased to 7 Moz gold 700,000 Production target: For personal use only 600,000 ‒ 533,000 oz pa average 2026 – 2035 ‒ 596,000 oz pa peak in 2030 500,000
Slide 8: Kiaka Gold Production Centre
WEST AFRICAN RESOURCES LTD KIAKA GOLD PRODUCTION CENTRE For personal use only 8
Slide 9: Kiaka Gold Production Centre: Key Project Metrics
KIAKA GOLD PRODUCTION CENTRE KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 85%; Burkina Faso government 15%* For personal use only Type Open-pit low strip ratio 1.4 : 1 LOM Resources 391 Mt at 0.7 g/t for 9.2 Moz gold (US$3000) Reserves 177 Mt at 0.8 g/t for 4.7
Slide 10: Near Mine Growth: Kiaka Expansion Potential
NEAR MINE GROWTH K I A K A E X PA N S I O N P O T E N T I A L For personal use only Refer to ASX announcement titled “WAF 10-year gold production to average 533,000 oz per annum” released 31 March 2026. 10
Slide 11: Sanbrado Gold Production Centre
WEST AFRICAN RESOURCES LTD SANBRADO GOLD PRODUCTION CENTRE For personal use only 11
Slide 12: Sanbrado Gold Operations: Key Project Metrics
SANBRADO GOLD OPERATIONS KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 85%; Burkina Faso government 15% For personal use only Type Open-pit and underground mining Resources 67 Mt at 2.0 g/t for 4.4 Moz gold (US$3,000) Reserves 37 Mt at 1.9 g/t for 2.3 Moz gold (U
Slide 13: Near Mine Growth: Sanbrado Expansion Potential
NEAR MINE GROWTH S A N B R A D O E X PA N S I O N P O T E N T I A L Over 60,000m of surface and underground drilling in progress with potential to deliver significant resource and reserve growth For personal use only Mineralisation at M1 South and M5 remains open at depth supporting potential to
Slide 14: Near Mine Growth: M5 Recent Results
NEAR MINE GROWTH M 5 R E C E N T R E S U LT S For personal use only Thick zones of high-grade mineralisation confirmed beneath the current Ore Reserves at M5 South underground. Infill drilling for the updated M5 open pit Ore Reserve complete, now targeting resource and reserve growth potential.
Slide 15: Our People: Building a Strong Local Workforce
OUR PEOPLE BUILDING A STRONG LOCAL WORKFORCE Équipe WAF For personal use only 3,743 total workforce across all Burkina Faso operations 2,576 WAF group employees, >94% Burkinabe 54 internships supporting future talent (YTD) Women’s Leadership in Mining Award at 2025 SAMAO (West African Mining
Slide 16: Protecting Our Workforce: Health, Safety and Security
PROTECTING OUR WORKFORCE H E A LT H , S A F E T Y A N D S E C U R I T Y Comprehensive Occupational Health and Safety Management System (OHSMS) based on ISO 45001 standards For personal use only OHSMS key aspects WAF TRIFR: 1.35 vs Western Australian Gold Industry IFR: 5.7* Vigorous critical risk
Slide 17: Investing in Our Common Future
INVESTING IN OUR COMMON FUTURE D R I V I N G S U S TA I N A B L E G R O W T H A N D S U P P O R T I N G S H A R E D VA L U E Contributions since mining operations began in 2020: US$771 million contributed directly to Burkina Faso in taxes and royalties For personal use only US$16 million invested
Slide 18: Community: Building Lasting Value
COMMUNITY B U I L D I N G L A S T I N G VA L U E Education & Training For personal use only Built 4 schools and refurbished 2 schools, with solar power and learning resources IT access in high schools and vocational training for local youth Financial support to national NGOs to improve access
Slide 19: Community: Building Lasting Value
COMMUNITY B U I L D I N G L A S T I N G VA L U E Improving Health Status of Local Communities For personal use only Reducing child malnutrition through capacity building of health workers and school lunch programs Improvements and equipment for local health centres Malaria awareness campaigns
Slide 20: Environment: Managing Our Environmental Footprint
ENVIRONMENT M A N A G I N G O U R E N V I R O N M E N TA L F O O T P R I N T Environmental Stewardship For personal use only >80,000 trees planted through community and site revegetation programs 381kg of seeds from locally valued or medicinal plant species collected for revegetation 92% of no
Slide 21: Setting the Pace for Mid-Tier Producers
WEST AFRICAN RESOURCES LTD S E T T I N G T H E PA C E F O R M I D - T I E R P R O D U C E R S • Quality team aligned with shareholders TEAM For personal use only • 5 years of meeting or beating production guidance GOLD • 7 Moz unhedged gold reserves EXPOSURE • 13.7 Moz unhedged gold resources • Buil
Slide 22: West Africa's Growing Mid-Tier Gold Producer
For personal use only WEST AFRICAN RESOURCES LTD WEST A F R I C A’S G R O W IN G M I D - TIER G O LD PR O D U C ER w w w. w e s t a f r i c a n r e s o u r c e s . c o m A S X : WA F
Slide 23: Mineral Resources
MINERAL RESOURCES Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Containe Containe Contain Containe Tonnes Grade d Au Tonnes Grade d Au Tonnes Grade ed Au Tonnes Grade d Au For personal use only g/t (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz (000) t
Slide 24: Ore Reserves
ORE RESERVES Proved Probable Proved + Probable For personal use only Tonnes Grade Contained Au Tonnes Grade Contained Au Tonnes Grade Contained Au (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz M1 South UG 2,130 6.3 430 2,990 5.4 520 5,120 5.8 950 M5 South UG 0 0.0 0 2,550 2.8 230 2,