Serval Resources Plc · LSE:SRVL
Serval Resources — Investor Presentation (April 2026)
30 slides from Serval Resources's investor presentation, Apr 27, 2026
Slide 1: The future runs on copper
The future runs on copper Unlocking the potential value in Africa’s under - explored copper belts Visible copper mineralisation 27 April 2026 from the Kaoko Basin licences in Namibia servalresources.com 1
Slide 2: Disclaimer
Disclaimer • This document, together with any oral briefing which accompanies it and which is personal to the recipient, has been issued by Serval Resources Plc (the “Company”) . This document does not constitute or form part of, and should not be construed as, any offer or invitation to sell or iss
Slide 3: Introduction to Serval Resources
Introduction to Serval Resources Ambition to create a pre - eminent copper vehicle for Listing: AIM: SRVL the London market On Admission to AIM (27 April): • Major copper and associated strategic Shares in issue: 33.7 million metals opportunity Anticipated market cap: c. £7.6 million • Focused on Af
Slide 4: Our Portfolio
Our Portfolio Namibia Under - explored in contrast to its potential • Interpreted as an extension of the Central African Copperbelt • 4 licences 1 covering 789 km 2 Location of KCL Licences in Namibia and Botswana • Multiple copper - silver (Cu - Ag) mineralisation targets • High - grade drill inter
Slide 5: Namibia – The Kaoko Basin
Namibia – The Kaoko Basin The interpreted extension of the Central African Copper Belt • This emerging copper region is interpreted as an extension of the Central African Copper Belt that runs through Zambia and the DRC • The Central African Copper Belt is a world - class sediment - hosted copper -
Slide 6: Kaoko Basin Highlights
Kaoko Basin Highlights Potential for multi - deposit discoveries Opuwo Licences include immediate targets for further definition • Significant strike lengths of mineralised contacts • Numerous copper showings, including some that are being exploited in small - scale mining claims Ohundayambotu Onder
Slide 7: Kaoko Basin Priority 1
Kaoko Basin Priority 1 EPL 7081: Omatapati and Otjozongombe Prospects Potential pathway to maiden resource estimate in due course Location of historic drilling at EPL 7081 • Historic mapping, geophysics and drilling programmes have identified Cu - Ag mineralisation within stratabound horizons • Omat
Slide 8: Prospectivity confirmed by extensive visible mineralisation and active small-scale mining
Prospectivity confirmed by extensive visible mineralisation and active small - scale mining servalresources.com 8
Slide 9: Botswana – The Kalahari Copper Belt
Botswana – The Kalahari Copper Belt One of the most prospective regions in the world for new sedimentary copper discoveries¹ • The Kalahari Copper Belt (KCB) is now emerging as an important source of new copper supply: • 2008: no resources in the KCB; now ca. 15 Mt contained Cu and growing • 2024: M
Slide 10: KCB Highlights
KCB Highlights Licences in prime acreage along strike to existing discoveries • 18, 100%- owned licences (two pending renewal and two pending ownership transfer) covering 1,283 km 2, subject to acquisition of KCL • Licences along strike and adjacent to operating mines and development projects • Expl
Slide 11: KCB Priority 1: PL235 and PL232
KCB Priority 1: PL235 and PL232 Mineralised contact intercepted on 13 historic drillholes • Regional geophysics targeted an anticlinal structure which extends the breadth of the licence • Both limbs of the Anticline fold are present • Shallow intersections in some holes • Potential for classic depos
Slide 12: KCB Priority 1: PL235 and PL232
KCB Priority 1: PL235 and PL232 The PL232 Cluster consists of a series of licences that are in close proximity to MMG’s Khoemacau operations • Khoemacau is a long - life (+20 years) copper - silver mine • MMG currently spending US$900m to expand production to 130Kt pa Cu and 4Moz pa Ag • Other satel
Slide 13: KCB Priority 2: PL082 / PL061
KCB Priority 2: PL082 / 061 PL082 and PL061 are on strike to Cobre’s Ngami Project At Cobre: • Geophysics used to guide drilling, airborne EM, AGG (gravity) and seismic survey; 20,000m drilling to date • Maiden mineral resource of 11.5Mt at 0.52% Cu + 11.6 g/t Ag • Upside potential of 205 to 308 Mt
Slide 14: Côte d’Ivoire – Duékoué
Côte d’Ivoire – Duékoué Joint venture with La Miniere de L’Elephant SARL JV Terms • Right to acquire 100% through payment of US$1m • An emerging copper belt proximate to the Archean / Proterozoic • Serval to fund <US$650k exploration expenditure boundary with the potential to host Iron Oxide Copper
Slide 15: ESG – Our Goals
ESG – Our Goals Health and Safety – taking care of our people • Apply the Company’s HSEC management system to all exploration activities • Commitment to implement , improve and execute industry best practice Environmental Stewardship – minimising our impacts Operational safety briefing Community rel
Slide 16: The Path Forward
The Path Forward Consistent newsflow as we advance our portfolio Subject to Botswana additional funding: Namibia & Botswana Namibia Results of Botswana Côte d’Ivoire ESG compliance / Drilling to delineate geophysics Ongoing Phase 2 exploration stakeholder a potential future programmes geophysics pro
Slide 17: KCL Deal Terms
KCL Deal Terms Acquisition of KCL including the licences held by its subsidiaries in Namibia and Botswana • Issue shares that constitute <30% of the Company’s issued share capital on admission to trading on AIM • £2 million cash deferred for up to 18 months and interest with an option to settle as w
Slide 18: Use of Proceeds (12 Months)
Use of Proceeds (12 Months) GBP USD Gross proceeds 3.0m 3.9m Sale of Pulsar Helium Inc. shares 0.5m 0.7m Total funds available 3.5m 4.6m AIM listing costs (including commission) 0.9m 1.1m Corporate costs 0.7m 0.9m Ongoing regulatory costs 0.2m 0.3m Namibia - Geological mapping and sampling - Geophys
Slide 19: Highly Experienced Team
Highly Experienced Team Directors Senior Management John Treacy Luhann Theron Non - Executive Chairman Chief Geologist Mr. Treacy is an experienced London financier who specialises in working with growth Mr. Theron is a geologist with 13 years' experience, specialising in exploration in sub - Sahara
Slide 20: Investment Summary
Investment Summary The right commodity • Copper is important to modern and future society - third most - used metal globally • Demand rising due to population / GDP growth and electrification / digitalisation of society At the right time • Copper had a breakout year in 2025 and market deficit expect
Slide 21: Appendices
APPENDICES - Key Uses of Copper - S&P Forecast Potential - Timeline to refocus business in 2025 - Summary of Licences - Company Structure Upon Admission - The Kalahari Copper Belt - PL231 servalresources.com 21
Slide 22: Key Uses of Copper
Key Uses of Copper Digital Sector Energy Transition Infrastructure and Copper underpins digital Copper is indispensable in the Housing technologies. Its conductivity and transition to sustainable energy, Copper is the backbone of durability are essential to due to its critical use in EVs, solar cons
Slide 23: S&P forecast potential 10 Mt shortfall by 2040
S&P forecast potential 10 Mt shortfall by 2040 • Copper demand expected to grow by ca. 50% from 28 Mtpa to 42 Mtpa by 2040 ¹ 2025 was a breakout year for • Supply side heavily reliant on a handful of ageing mines with declining grades both copper and silver pricing • Major supply shocks in 2025 expe
Slide 24: Timeline to refocus business in 2025
Timeline to refocus business in 2025 2026 Planned step up to AIM January July September October December Robin Birchall Heads of Terms signed to Fieldwork in Côte Oscillate PLC launches Geophysics programme in appointed as CEO acquire Kalahari Copper d’Ivoire completed Serval Resources Botswana comp
Slide 25: Summary of Licences
Summary of Licences Summary of the Botswana Licences Summary of the Namibia Licences Licence Interes Licence Licence Area Asset Holder Interest (%) Status Licence Area (km 2 ) Comments Asset Holder Status Comments Expiry t (%) Expiry (km 2) PL061_2021 Dalsu 100 Exploration 30 - Jun - 26 198.25 Renew
Slide 26: Company Structure Upon Admission
Company Structure Upon Admission Serval Resources PLC (UK) 100% Kalahari Copper Limited (BVI) 100% 100% Lilac Investment Company Dalsu Investments (Pty) (Pty) Ltd Ltd (Namibia) (Botswana) servalresources.com 26
Slide 27: Kaoko Basin Highlights
Kaoko Basin Highlights Potential for multi - deposit discoveries Selected drill intersections from KCL’s 2024/2025 campaigns PL AG HOLE PROSPECT FROM (M) TO (M) INTERVAL (M) CU% INCLUDING NUMBER (G/T) 7081 OPR001 Omatapati 52 56 4 1.1 54 1m @ 1.9% Cu & 1m @ 122 g/t Ag 7081 OPR001 Omatapati 72 74 2 1
Slide 28: The Kalahari Copper Belt
The Kalahari Copper Belt • The KCB is a northeast - trending Meso - to Neoproterozoic belt that occurs discontinuously from western Namibia and stretches into northern Botswana along the northwestern edge of the Paleoproterozoic Kalahari Craton • Ca. 1,000 km long and ca. 250 km wide, containing Cu
Slide 29: KCB - PL231
KCB - PL231 On border of Namibia near to where Noronex and South32 are evaluating interesting exploration prospects • Ground magnetics, Audio - frequency Magnetotellurics (AMT) and groundbased Time Domain Electromagnetic (TEM) surveys • Combination of geophysics methods aims to seek N/D contact and
Slide 30: Thank you
Thank you Contact: Investor Relations Cathy Malins Tel: +44 7876 796 629 Email: cathy.malins@servalresources.com Website: www.servalresources.com servalresources.com 30
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