West African Resources Ltd · ASX:WAF
West African Resources — Shareholder Meeting (May 2026)
23 slides from West African Resources's shareholder meeting presentation, May 8, 2026
Slide 1: West Africa's Growing Mid Tier Producer - Annual General Meeting
For personal use only WEST AFRICA’S GROWING MID TIER PRODUCER TARGETING +500,000 oz pa GOLD PRODUCTION FROM 2027 ANNUAL GENERAL MEETING - 8 MAY 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$3,475m* 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 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: Sanbrado Gold Production Centre
WEST AFRICAN RESOURCES LTD SANBRADO GOLD PRODUCTION CENTRE For personal use only 8
Slide 9: 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 10: 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 t
Slide 11: Kiaka Gold Production Centre
WEST AFRICAN RESOURCES LTD KIAKA GOLD PRODUCTION CENTRE For personal use only 11
Slide 12: Kiaka Gold Production Centre Key Project Metrics
KIAKA GOLD PRODUCTION CENTRE KEY PROJECT METRICS Location South-central Burkina Faso, West Africa For personal use only Ownership WAF 85%; Burkina Faso government 15%* 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 13: Our People
OUR PEOPLE É Q U I P E WA F Building a strong local workforce For personal use only 3,622 total workforce across all operations (Burkina Faso) 2,350 WAF group employees, 95% Burkinabe >70,000 hours of personnel training and skills development delivered ‒ Induction and competency-based training
Slide 14: Protecting Our Workforce
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 WAF operates a comprehensive Occupational Health and Safety Management System (OHSMS) based on ISO 45001 standards For personal use only OHSMS key aspects 500 days LTI free to end Q1 2026 WAF TRIFR: 1.64 v Western Australian
Slide 15: 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$644 million contributed to Burkina Faso in taxes and royalties For personal use only US$13 million invested in communi
Slide 16: ESG - Building Lasting Value
ESG 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 Building and refurbishing schools, with solar power and learning resources IT access in high schools and vocational training for local youth Scholarship Programs expanding to support more students in 2026 Liv
Slide 17: ESG - Building Lasting Value
ESG B U I L D I N G L A S T I N G VA L U E Improving health status of the local communities For personal use only Reducing child malnutrition through school lunch programs Construction and refurbishment of local health centres Malaria awareness campaigns and mosquito net distribution Environme
Slide 18: Looking Ahead +100,000m Drilling
WEST AFRICAN RESOURCES LTD LOOKING AHEAD +100,000M DRILLING Q1 2026 2026 Production Guidance For personal use only Q1 2026 10-Year Production Outlook Q2 2026 M5 North surface drilling results Q2 2026 M5 UG portal establishment Q2 2026 M5 South UG drilling results Q3 2026 Toega OP first ore produ
Slide 19: Flight to Gold Exposure
WEST AFRICAN RESOURCES LTD F L I G H T TO 5 0 0 • 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 • Building community acceptance by creating jobs, su
Slide 20: 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 21: Capital Structure
WEST AFRICAN RESOURCES LTD C A P I TA L S T R U C T U R E INVESTOR BY GEOGRAPHIC LOCATION1,3 Australia & NZ ASX: WAF 50.8% Total Ordinary Shares on Issue 1,142,490,256 Europe For personal use only 28.5% Performance rights on issue 8,764,914 North America 17.6% Top 20 Shareholders1 61% Asia 3.1% Cash
Slide 22: Mineral Resources
MINERAL RESOURCES Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Contained Contained Containe Contained Tonnes Grade Au Tonnes Grade Au Tonnes Grade d Au Tonnes Grade 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 g/t
Slide 23: 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,
West African Resources — Shareholder Meeting (May 2026) on 6ix