Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Investor Presentation (April 2026)
29 slides from Kefi Gold And Copper's investor presentation, Apr 7, 2026
Slide 1: Finalised Financing of Tulu Kapi Gold Project Development
Finalised Financing of: • Tulu Kapi Gold Project Development • Cost Overrun Reserves • Preparation of Priority Opportunities 7 April 2026 kefi-goldandcopper.com
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by KEFI Gold and Copper plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or adv
Slide 3: Recent Milestones and Catalysts
Recent Milestones and Catalysts As a recap: funding package now totals c.$355M and covers Tulu Kapi Gold Project development over the next 2 years for the open pit, then the development of the underground mine, plus cost overrun reserves and initial preparation of growth opportunities in gold and cr
Slide 4: 2026 Share Placing Within Overall Capital Structure
2026 Share Placing Within Overall Capital Structure Sources of Funds $m Uses of Funds $m Total Project Capital Cost Debt Facility from Trade and Development Bank (TDB) & African Finance Corporation (AFC) 240 330 (Including contingency) Working capital facility 15 (available throughout Tulu Kapi deve
Slide 5: KEFI Board of Directors
KEFI Board of Directors Experienced Industry Specialists for the Region Harry Anagnostaras-Adams John Leach Addis Alemayehou Alistair Clark Richard Robinson Executive Chair – B. Comm, MBA, Finance Director – BA Economics, Non-Executive – Chair of Non-Executive – representative with the Non-Executive
Slide 6: Solid Platform for Rapid Growth
N Gold/Copper Deposit KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL Solid Platform for Rapid Growth KEFI (G&M JV) ELA E T H I O P I A – Ma j o r n e w g o l d m i n e s t a r t i n g c o n s t r u c t i o n Arabian Nubian Shield ■ Tulu Kapi Gold Mine JV KEFI-Ethiopian Govt ■ Starting construction. 1st sta
Slide 7: Tulu Kapi Ground-Breaking Ceremony
18 February 2026 Tulu Kapi Ground-Breaking Ceremony Led by Ethiopia’s Prime Minister and Oromia Region’s President Prime Minister Dr Abiy Ahmed is wearing the hat and President Shimelis Abdisa is in foreground E 7 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 8: Corporate Snapshot
Corporate Snapshot ETHIOPIA: ■ Substantial investment: Historical spend c.$110M, c.$60M since 2014 CAPITAL STRUCTURE (AIM:KEFI) ■ 1.7Moz Au JORC-Compliant Mineral Resources 52 Week High-Low 2.07-0.45p ■ 1Moz Au JORC-Compliant Ore Reserves Current Share Price1 1.17p ■ Deep Value of Tulu Kapi, NPV net
Slide 9: Tulu Kapi Planned Site Layout - Overview
Tulu Kapi Planned Site Layout - Overview • Standard 2Mtpa CIL processing plant • Contract mining – truck and shovel • Open pit waste to ore ratio of 6.7 to 1 • Head grade of 2.1g/t gold (open pit) • Gold recoveries of 93% • Open Pit gold production (160koz in first full year) • 1.0Moz gold to be min
Slide 10: Strong Team of Independent Experts Sign Off
Strong Team of Independent Experts Sign Off Tulu Kapi Signed Off by Leading Experts for the International Syndicate Security Due Diligence Financial Model E Environment & Social Definitive Feasibility Study Orior Capital Resources & Industry Reserves Comparatives 10 kefi-goldandcopper.com Focused On
Slide 11: Lycopodium's Recent Performance Against Budget/Schedule
Lycopodium’s Recent Performance Against Budget/Schedule Clients include most established African producers E 11 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 12: Development Schedule - Tulu Kapi Open Pit and Infrastructure
Development Schedule - Tulu Kapi Open Pit and Infrastructure TULU KAPI PROJECT SCHEDULE Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Q4-26 Q1-27 Q2-27 Q3-27 Q4-27 Q1-28 Q2-28 SECURITY DEPLOYED EARLY WORKS PARLIAMENT RATIFIES OUR FINANCINGS FINAL CREDIT APPROVALS FINAL EQUITY COMPONENT FULL
Slide 13: Summary Metrics of Tulu Kapi
Summary Metrics of Tulu Kapi Tulu Kapi Economic Metrics 100% Basis - 2025 Business Plan Open Pit Plus Initial Underground Gold Price 5,000 3,000 Production Statistics Tonnes Processed 16,983 16,983 Tonnes Processed Per Annum 2,342 2,342 Annual production of Tulu Kapi in Ethiopia is based on the Grad
Slide 14: Upcoming Milestones and Catalysts
Upcoming Milestones and Catalysts Ethiopia - current resources 1.7Moz Gold (KEFI estimated beneficial ownership 86% upon completion of government earn-in): • Tulu Kapi Open Pit and infrastructure development has commenced for commissioning Q1-2028 and average 166Kozpa for 8 years • Updating of Ore R
Slide 15: Listed Benchmarks Indicate KEFI is Relatively Underpriced
Listed Benchmarks Indicate KEFI is Relatively Underpriced Graph Focuses on Enterprise Value per Ounce Annual Production E Source: Orior Capital, March 2026 15 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 16: Appendix
Appendix E 16 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 17: KEFI Executive Committee
KEFI Executive Committee Extensive technical and operational experience Harry John Leach Eddy Solbrandt Rob Williams Norman Green Geoff Davidson Anagnostaras-Adams Finance Director COO Construction Technical Due Diligence Mining Executive Chair Organisation Development Founder or co-founder of > 30
Slide 18: Project Management
Project Management Extensive technical and operational experience Simon Cleghorn Theron Brand Abera Mamo Jacques Kruger Peter Illgner Christo Potgeiter Managing Director Head of Finance Head of Government Relations Project Manager, overseeing Social and Environment Security Manager Principal contrac
Slide 19: Tulu Kapi
Tulu Kapi E Commencement Of Major Works One of Two New Access Roads 19 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 20: Tulu Kapi Infrastructure Design and Build by Lycopodium
Tulu Kapi Infrastructure Design and Build by Lycopodium Lycopodium in Africa Lycopodium in Africa Lycopodium is a leading global engineering and project delivery organization Founded in 1992, providing integrated engineering, project, construction, and asset management expertise across the entire pr
Slide 21: Tulu Kapi – Open at Depth
Tulu Kapi – Open at Depth 73,109m of Diamond drilling 49,625m of RC Drilling TKBH_293: 90m @ 2.8g/t Au 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling E 1,417m of Trenching TKBH_125 intersected mineralisation 140m down- plunge; interpreted to be east of main UG shoot Underground r
Slide 22: Tulu Kapi Mineral Resources & Ore Reserves- JORC-Compliant
Tulu Kapi Mineral Resources & Ore Reserves- JORC-Compliant Resources - 1.72Moz of contained gold at 2.65g/t Resource Category Area Tonnes Gold Contained Gold (millions) (g/t) (Moz) Indicated Above 17.7 2.49 1.42 1,400m RL Inferred 1.3 2.05 0.08 Sub-Total 19.0 2.46 1.5 Indicated Below 1.1 5.63 0.20 1
Slide 23: Saudi Arabia – GMCO JV
E Saudi Arabia – GMCO JV Two advanced projects and large regional portfolio 23 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 24: Hawiah – VMS Copper-Gold-Zinc-Silver
Hawiah –VMS Copper-Gold-Zinc-Silver Top 3 base metals discovery in Saudi Arabia – working on DFS • Major greenfield discovery made in 2019 • Combined Hawiah and Al Godeyer Mineral Resources now stand at 38.2Mt • The deposits host an estimated 315,500 tonnes copper, 320,600 zinc, 822,900 oz gold and
Slide 25: Hawiah – Mineral Resources Continue to Expand at Depth
Hawiah – Mineral Resources Continue to Expand at Depth 25
Slide 26: Jibal Qutman - Near Surface, Orogenic Gold
Jibal Qutman - Near Surface, Orogenic Gold ~270Km² Licence Package Including 0.9Moz Resource • Intense focus on development planning for final investment decision late 2025 • A GMCO discovery on which work was suspended in New Asfingia 2016 during a regulatory overhaul and the site was Discovery re-
Slide 27: GMCO JV – Additional Exploration Licences
GMCO JV – Additional Exploration Licences ~1,000km² GMCO Licence Package • GMCO holds Exploration Licences (“EL’s”) via (ARTAR) covering ~1,000 km2 and further applications (ELA’s) • Licences previously held under ARTAR are being transferred into GMCO, while recently acquired assets under the DCMC w
Slide 28: Capital Structure
Capital Structure Public Shareholders 13% 100% 87% ARTAR GMCO KEFI Ethiopia Preference Shares Saudi Arabia c.86% E c.14% Tulu Kapi Gold Mines (TKGM) Government Banks Gold Royalties TDB and AFC 28 kefi-goldandcopper.com Focused On Arabian-Nubian Shield
Slide 29: Thank You
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com
KEFI Gold and Copper — Investor Presentation (April 2026) on 6ix