Slide 1: Investor Presentation
Investor Presentation October 2026 LSE:KAV VFEX:KAV.VX
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Kavango Resources plc (“Kavango” or “Company”) and is provided solely for information purposes. By viewing or attending this Presentation (defined below), you agree to be bound by the following conditions: The information contained in these slides an
Slide 3: Corporate Overview
Corporate Overview Primary Listing, GBP: Main Market of London Stock Exchange, securities admitted to listing 31 July 2018 Secondary Listing, US$ Victoria Falls Stock Exchange, securities admitted to listing 8 September 2025 • Total investment May 2023 – September 2026: Approx US$46 million • Corner
Slide 4: Corporate Overview: Secondary Listing, VFEX
Corporate Overview Secondary Listing, VFEX 4,525,261,341 • Securities admitted to listing: 8 September 2025 • Purebond Limited participated in the inaugural VFEX listing, together with six pension funds and 157 Kavango employees (the employees are all Zimbabwean nationals), raising approx US$ 4.5 mi
Slide 5: Directors & Senior Leadership
Directors & Senior Leadership Donald McAlister Jasper Musadaidzwa Lorenz Werndle Executive Chairman Executive Director Executive Director Donald has led numerous successful & Chief Executive Officer & Chief Financial Officer financings of mining ventures and Jasper has over 27 years’ experience Lore
Slide 6: Zimbabwe
Zimbabwe
Slide 7: Filabusi hosts world-class gold potential
Filabusi hosts world-class gold potential Zimbabwe’s 22 Archean greenstone belts have produced more than 60Moz of gold historically. These greenstones share a similar geological setting to those in W. Australia that supported a 40-year bulk-mining boom in gold. In the early 1980’s, Zimbabwe produced
Slide 8: Kavango's accelerated pathway to scalable production and free cash flow
Kavango’s accelerated pathway to scalable production and free cash flow Kavango is 100% Equity Financed – No Debt Mining Projects 100% Owned • Fully permitted mining leases, held in perpetuity by production (no spending commitments) • Accelerated development timeline from “Decision to Mine” to produ
Slide 9: Hillside Project: The first of multiple gold production hubs in the Filabusi area
Hillside Project: The first of multiple gold production hubs in the Filabusi area Kavango’s objective is to develop multiple gold production hubs in the Filabusi Area, starting with Hillside Hillside: • Kavango owns 100% of the Hillside Gold Project Steenbok • Hillside Gold Project was bought as an
Slide 10: Bill's Luck: Maiden MRE declared 33,900oz at 2.68g/t
Bill’s Luck: Maiden MRE declared 33,900oz at 2.68g/t Cornerstone of gold production at Hillside JORC compliant resource - Measured: 2,600 oz at 3.3g/t, Indicated: 13,400 oz at 2.7g/t, Inferred: 18,000 oz at 2.6g/t Notable intercepts from 2025 resource drilling include: Diamond drilling: • 19.24g/t o
Slide 11: Nightshift: Shallow resource
Nightshift: Shallow resource Near-surface, 19koz gold deposit with significant upside potential • 2,109m shallow diamond drill campaign (34 holes) intersected 65 significant intercepts (>1g/t Au) • JORC-compliant Mineral Resource Estimate of 19koz • Potential for near-term selective open-pit mining,
Slide 12: Moving to Larger-Scale Gold Production
Moving to Larger-Scale Gold Production Kavango Mining intends to ramp up processing capacity at Hillside. Scoping work is ongoing to define the size of the increase. Multiple ore sources have been identified, including Bill’s Luck Underground, existing tailings from Hillside Processing Centre, Night
Slide 13: Development project: Steenbok
Development project: Steenbok At least 4 trending reefs identified over 400m of strike: • Total strike of 1,500m, of which Kavango drill tested 400m for a potential spiral decline • 3,479m of diamond drilling over 8 holes intersected 41 significant gold intersections (>1g/t Au) • Initial structural
Slide 14: Development project: Nara (under option)
Development project: Nara (under option) Drilling has confirmed: • Total strike length at Nara now interpreted to exceed 4km, with at least 2 parallel reefs forming the central zone with numerous other reefs inferred from drill intersections • Economic ore zone continues at depth, below base of curr
Slide 15: Growing together: Kavango is committed to communities
Growing together: Kavango is committed to communities Kavango's CSR programme is focused on delivering practical initiatives that support sustainable development and create lasting local value. Working in partnership with educational institutions, local stakeholders, and host communities, the compan
Slide 16: Botswana
Botswana
Slide 17: Three exploration projects: Kalahari Copper Belt, Kalahari Suture Zone and Ditau
Three exploration projects: Kalahari Copper Belt, Kalahari Suture Zone and Ditau • Kalahari Copper Belt (KCB): Targeting significant copper-silver mineralisation within one of the most prospective copper belts in the world: • 16 PLs (10 100% ownership and 6 90% JV) • Licences proximal to several nea
Slide 18: Kalahari Copper Belt: one of the world's most prospective regions
Kalahari Copper Belt: Declared one of the world’s most prospective regions for sediment hosted copper by USGS MMG’s Khoemacau Mine and Licences, which it recently acquired for Cobre Ltd & BHP (5,365km2 ) $1.85bn (3,963.50km2 ) geophysics driven exploration using seismics, deep drilling First Quantum
Slide 19: KCB: Kavango holds significant, highly sought after ground along strike from new mines
KCB: Kavango holds significant, highly sought after ground along strike from new mines Area underlain by the Kara and Korong Conducted ground geophysics over First antiforms interpreted from drilling and Quantum’s deep exploration hole along geophysics to host the D’Kar/Ngwako strike on the Kara Ant
Slide 20: KCB: Extensive work program conducted by regional and technical experts
KCB: Extensive work program conducted by regional and technical experts Geological mapping Dave Catterall, Consultant Geologist Geologist with over 40 years exploration experience in base and precious metals, who Geochemical sampling (deflation lag, soil, termite has spent 17 years exploring a varie
Slide 21: KCB: Initial drilling intersected base metals and hit key objectives
KCB: Initial drilling intersected base metals and hit key objectives Confirmation of receptive Extensive zones with Presence of copper, lead & stratigraphy and structural significant alteration zinc mineralisation together setting conducive to trap- providing evidence for with pathfinder element sit
Slide 22: KCB: Stratigraphic basement highs identified
KCB: Stratigraphic basement highs identified Gravity Helicopter-borne gravity data has clearly defined a WSW-ENE trending gravity high hat may indicate the presence of stratigraphic basement highs defining multiple edges between two deeper basins. Basin margins are considered very prospective sites
Slide 23: KCB: IP and CSMAT has delivered advanced understanding of traps within the basin
KCB: IP and CSMAT has delivered advanced understanding of traps within the basin • The AEM data and inversions infer a simplistic structural interpretation due to the wavelength measured, and this has now been confirmed by Kavango’s diamond drilling. • The initial CSAMT& IP programmes delivered data
Slide 24: KCB: Three targets ready to drill, targeting the D'Kar/Ngwako Pan contact
KCB: Three targets ready to drill, targeting the D’Kar/ Ngwako Pan contact Using the combined IP & CSMT data, interpretations and insights gained from the collaboration with FQM has allowed Kavango’s technical team to interpret and infer the contact positions on 3 other sections where Deep IP & CSAM
Slide 25: Ditau: Early-stage Lode Gold Potential
Ditau: Early-stage Lode Gold Potential • 4 prospecting licences covering 2,653 km2 • Hole DITDD004 intersected 100m thick “Zone of Interest” from 293m to 393m • Anomalous gold values within the i10 target • Review by Dr. Hamid Mumin suggests likely presence of a large alteration system with excellen
Slide 26: Kalahari Suture Zone: Norilsk-style potential
Kalahari Suture Zone: Norilsk-style potential • 14 100%-owned Prospecting Licences totalling 7,962 km2 near the Makgadikgadi fault’s intersection with the north-south oriented Kalahari line • 450km long deep-seated discontinuity marking a cratonic edge • Analogous geological position to the Norilsk
Slide 27: CSR: Over a decade of local impact
CSR: Over a decade of local impact Working alongside local communities, schools, government, and conservation partners, Kavango has delivered a range of initiatives designed to create long-term, sustainable value. Historic and ongoing initiatives include: • Provision industrial attachments and work
Slide 28: Contact Us
Contact Us 6th Floor 99 Gresham Street, London, EC2V 7NG United Kingdom, www.kavangoresources.com 28