Slide 1: Bankan DFS Confirms Outstanding Project Economics
Bankan DFS Confirms DFS Outstanding Project Presentation Economics June 2025 ASX:PDI Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 1
Slide 2: Forward Looking Statements, Disclaimer and Compliance
Forward Looking Statements, Disclaimer and Compliance Forward Looking Statements and Important Notice This presentation contains certain forecasts, projections and forward-looking statements. Forward-looking statements may generally be identified by the use of forward-looking terminology, including,
Slide 3: PDI Highlights
PDI Highlights Rapidly advancing the large-scale Bankan Gold Project in Guinea towards development One of Africa’s largest and most advanced gold ~5.5Moz Mineral Resource, including ~3Moz Ore Reserve development projects. ~250kozpa over >12 years with significant exploration upside(1) at US$1,057/oz
Slide 4: DFS Results
Confirms Bankan as a DFS Results large-scale, long-life project with outstanding economics Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 4
Slide 5: Bankan DFS Highlights
Bankan DFS Highlights Large-scale, long-life gold development project with compelling economics and strong leverage to the current gold price environment SIGNIFICANT RESERVES & RESOURCES COMPETITIVE CAPEX & OPEX(1) 2.95Moz ore reserve US$463m pre-production capex (51.6Mt @ 1.78 g/t)(3) (broadly in-l
Slide 6: Project Reviews and Optimisations
Project Reviews and Optimisations NEB Wall Design Parameters Extensive reviews and optimisations during the DFS have delivered a robust and de-risked development case o Detailed review of geotechnical assumptions, additional drilling and testwork resulted in materially steeper walls angles • NEB: 39
Slide 7: Mining Overview
Mining Overview Combined open-pit and underground operation producing ~250koz per annum over 12.2 years NEB Open Pit o DFS continues to envisage early NEB underground development to access NEB and GBE Deposits Ore Reserves 1,738koz @ 1.36g/t high-grade fresh ore for the start of operations GBE Ore R
Slide 8: Mine Schedule
Mine Schedule Robust mine plan with multiple ore sources and stages, de-risking operations and facilitating blending of material types for processing Ore Mined Ore Mined (Mt) and Grade (g/t Au) Grade (g/t Au) 6 5.5 5 4.8 5.2 4.7 4.7 4.9 4.9 4.8 54.5Mt 5 4.6 4.5 4.6 4 Total 4 3.5 Ore Mined 3 3 2.3 1.
Slide 9: Processing Overview
Processing Overview Simple metallurgy and processing to achieve high recoveries o 4.5Mtpa conventional gold processing plant designed by DRA o Separate primary crushing circuits for fresh ore (jaw crusher) and weathered ore (mineral sizer) o SABC grinding circuit comprising SAG mill, pebble crusher
Slide 10: Production Profile
Production Profile Large-scale and long-life operation with average production of ~250koz per annum over 12.2 years Processing Ore Processed (Mt) Grade (g/t) 6 3.5 5 3.0 4.5Mtpa 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.2 2.5 Conventional CIL 4 2.3 2.2 Process Plant 1.9 2.0 2.0 1.9 2.0 3 1.8 1.9
Slide 11: Operating & Capital Cost Breakdowns
Operating & Capital Cost Breakdowns Low all-in sustaining costs and competitive capital costs DFS Operating Cost Breakdown DFS Capital Cost Breakdown LOM Cost Unit Cost Unit Cost Area Area Cost (US$m) (US$m) (US$) (US$/oz) Open Pit Mining $604 $4.97/t total mined $200 Pre-Production Mining $106 Unde
Slide 12: Financial Metrics
Financial Metrics Highly competitive AISC of US$1,057/oz and strong free cashflow generation of >US$250mpa1 at US$2,400/oz, increasing to >US$400mpa1 at US$3,300/oz All-in Sustaining Costs (US$m) (US$/oz) 500 1,500 1,293 1,269 US$841/oz 400 1,203 1,214 1,219 1,209 1,200 1,094 1,126 1,090 LOM C1 321
Slide 13: Sensitivities
Sensitivities1 DFS economics are robust to changes in key assumptions and strongly leveraged to the current gold price NPV5% Sensitivities (US$m) Additional Gold Price Sensitivities Base case: 1,637 Base case: 1,637 Spot case: 2,893 Commodity Price 1,302 1,972 1,079 -10% to 10% 1,777 Ore Grade NPV5%
Slide 14: Project Implementation Schedule
Project Implementation Schedule Driving towards final investment decision in early 2026, enabling first production by Q2 2028 2025 2026 2027 2028 Activity H1 H2 H1 H2 H1 H2 H1 H2 DFS Exploitation Permit Financing Final Investment Decision Execution Readiness Early Works Engineering Tendering & Procu
Slide 15: Significant Exploration Upside
Significant Exploration Upside 35km of Siguiri Basin margin; positive results at multiple exploration targets in the NEB area and at Argo1 Predictive Discovery | West Africa’s Next Tier-1 Gold Mine Note: Results from various ASX releases. Refer to “Material ASX releases” slide 46 in the appendix.. w
Slide 16: Investment Highlights
Investment Highlights Strong re-rate potential as Bankan moves through its development cycle ~3Moz Ore Reserve; ~250kozpa average production over >12 years Bankan scale One of Africa’s largest and most advanced gold development projects Outstanding Post-tax NPV5% of US$1.6bn and IRR of 46%. Capex pa
Slide 17: For further information contact
For further information contact BRAD MILNE Corporate Development Manager E: brad.milne@predictivediscovery.com BOBBY MORSE / LOUISE MASON-RUTHERFORD / GEORGE POPE Burson Buchanan E: predictive@buchanancomms.co.uk T: +44 (0)20 7466 5000 SAM MACPHERSON VECTOR Advisors E: smacpherson@vectoradvisors.au
Slide 18: Appendix
Appendix Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 18
Slide 19: Corporate Overview
Corporate Overview Backed to build the Bankan Gold Project Major Institutional & Strategic Shareholders(1) Capitalisation(2) 17.8% Ordinary Shares Outstanding 2,620m Unlisted Options 114m 13.2% Fully-Diluted Shares Outstanding 2,735m 6.0% Closing Price (23-Jun-25) A$0.385 Undiluted Market Capitalisa
Slide 20: Board & Management
Board & Management Deep expertise and proven mining success Board Simon Jackson Andrew Pardey Sandra Bates Alberto Lavandeira Steven Michael Non-Executive Chair Managing Director Executive Director – Legal & ESG Non-Executive Director Non-Executive Director • 25+ years’ experience in the • Extensive
Slide 21: African Experience
African Experience Tasiast (Gold), Mauritania Board & management has extensive experience in African gold projects Sukari (Gold), Egypt Yatela (Gold), Mali Block 14 (Gold), Sudan Sadiola (Gold), Mali GAC (Bauxite), Essakane (Gold), Burkina Faso Guinea CBG (Bauxite), Guinea Youga (Gold), Burkino Faso
Slide 22: About Guinea
About Guinea "The Guinean economy is one of the most o Key facts resilient in West Africa." • Coastal West African country covering 245,857km2 "The budget deficit.... remains one of the • Population of ~15m lowest in the economic Community of West African States“ • Achieved Independence from France
Slide 23: Guinea's Mining Industry
Guinea’s Mining Industry Attracting major global investments to an Gold established and growing mining industry Bauxite region o Global leader in the production and export of bauxite region GUINEA • Large-scale bauxite mining commenced in the 1960s • Major global companies involved in bauxite mining
Slide 24: DFS Production and Financial Metrics
DFS Production and Financial Metrics Units Number Mine Life years 12.2 ~250Kozpa production confirms Bankan as one of Africa’s largest and most advanced gold developments Production Metrics Ore Mined / Processed Mt 54.5 Processing Rate Mtpa 4.5 LOM Avg. Processing Recovery % 92.8% Long mine life of
Slide 25: Production and Capex Benchmarking
Production and Capex Benchmarking Bankan has one of the highest annual production rates and lowest capital intensities of advanced African gold development projects(1) Top-tier African Gold Projects – Production (kozpa Au)(2) 265 249 240 223 183 Median: 170 172 167 167 162 162 150 139 Kobada Doropo
Slide 26: DFS Site Layout
DFS Site Layout Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 26
Slide 27: Mine Schedule (Year -2 to Year 8)
Mine Schedule (Year -2 to Year 8) An online interactive 3D model of the Bankan Gold Project is available for viewing at the following link: https://inventum3d.com/c/predictivediscovery/bankan NEB & GBE: Y-2 NEB & GBE: Y-1 NEB & GBE: Y1 NEB & GBE: Y2 NEB & GBE: Y3 NEB & GBE: Y4 NEB & GBE: Y5 NEB & GB
Slide 28: Mine Schedule (Year 9 to Year 11)
Mine Schedule (Year 9 to Year 11) An online interactive 3D model of the Bankan Gold Project is available for viewing at the following link: https://inventum3d.com/c/predictivediscovery/bankan NEB & GBE: Y9 NEB & GBE: Y10 NEB & GBE: Y11 BC: Y9 BC: Y10 BC: Y11 Predictive Discovery | West Africa’s Next
Slide 29: Bankan Ore Reserves & Mineral Resources Overview
Bankan Ore Reserves & Mineral Resources Overview JORC Ore Reserve JORC Mineral Resource Mining Cut-off Tonnes Grade Contained Cut-off Tonnes Grade Contained Deposit Classification Deposit Classification Method (g/t Au) (Mt) (g/t Au) (koz Au) (g/t Au) (Mt) (g/t Au) (koz Au) Open Pit Probable 0.38-0.4
Slide 30: Resource Base Benchmarking
Resource Base Benchmarking Bankan ranks as a top-tier gold asset globally, and one of the best gold development projects in Africa from a grade and resource perspective Select Global Top-tier Gold Mines & Projects – Mineral Resource (Moz Au) & Gold Grade (g/t Au) 6 High grade; Small High grade; Larg
Slide 31: NEB Deposit Overview
NEB Deposit Overview Large-scale orebody with excellent consistency Mining Method Classification Cut-off (g/t Au) Tonnes (Mt) Grade (g/t Au) Contained (koz Au) Open Pit Probable 0.38-0.48 40.2 1.36 1,751 Underground Probable 2.0 7.9 3.95 1,002 o Large open pit resource (3.99Moz @ 1.53g/t) and high-g
Slide 32: BC Deposit Overview
BC Deposit Overview 487Koz only 3km west of NEB Mining Method Classification Cut-off (g/t Au) Tonnes (Mt) Grade (g/t Au) Contained (Koz Au) Open Pit Probable 0.38-0.48 3.5 1.78 200 Total BC Ore Reserves 3.5 1.78 200 o Open pit resource of 487koz @ 1.24g/t within an orogenic Open Pit Indicated 0.4 5.
Slide 33: Fouwagbe/Sounsoun Deposit Overviews
Fouwagbe/Sounsoun Deposit Overviews Initial Mineral Resource estimates for the Argo area highlight potential for additional deposits to be defined at Bankan Cut-off Tonnes Grade Contained Deposit Classification (g/t Au) (Mt) (g/t Au) (koz Au) Fouwagbe Inferred 0.5 2.2 1.68 119 Sounsoun Inferred 0.5
Slide 34: Regional Upside – Argo
Regional Upside – Argo Promising results from multiple target areas E o Multiple specific target areas plus 23 line kms of anomalous auger trends to be tested D o 153Koz maiden Mineral Resource for Fouwagbe and Sounsoun Mineralisation in a series of SW plunging shoots within a deep A Fouwagbe saprol
Slide 35: Regional Upside – Bokoro South Targets
Regional Upside – Bokoro South Targets Regional exploration extending south onto the Bokoro permit, with promising initial results o Extensive auger drilling and first pass aircore program completed to test structural and geophysical targets o Further auger and aircore drilling planned following wet
Slide 36: Near-Resource Exploration Upside
Near-Resource Exploration Upside Potential for multiple satellite deposits within 5km of NEB o Targets defined from shallow drilling and geophysics surveys o Positive results from multiple targets confirms extent of gold mineralisation in the NEB and BC area o Potential for multiple satellite deposi
Slide 37: Upper Niger National Park
Upper Niger National Park Committed to sustainable development, biodiversity and environmental preservation o NEB and BC deposits located in the Peripheral Zone of the Upper Niger National Park o Core Conservation Area is the focus of conservation efforts. Deposits located 21km and 18km from the edg
Slide 38: Community
Community Social programs dedicated to supporting the community and supporting local education Installed community water bores to improve water access Bankan Primary School canteen project is Supporting the employment of four teachers at providing breakfast and lunch in conjunction the Bankan Primar
Slide 39: Sources for Production and Capex Benchmarking
Sources for Production and Capex Benchmarking Asset Owner Asset Stage Production (Koz) Initial Capex (US$m) Source https://edv-14806-s3.s3.eu-west-2.amazonaws.com/files/5217/3387/4779/241211_-_NR_- Assafou Endeavour PFS 265 $734 _Assafou_PFS.pdf https://s203.q4cdn.com/846800919/files/doc_downloads/P
Slide 40: Sources for Resource Base Benchmarking
Sources for Resource Base Benchmarking Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) https://sn
Slide 41: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) O
Slide 42: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 43: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) S
Slide 44: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 45: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 46: Material ASX Releases
Material ASX Releases SOUNSOUN SW TARGET AREA RCORDS ADDITIONAL STRONG INTERCEPTS, 23/04/2025 DEEPEST HOLE TO DATE INTERCEPTS GOLD 630M DOWN DIP, 15/06/2022 BANKAN GOLD PROJECT DRILLING ACCELERATED, 22/01/2021 ENCOURAGING DRILLING RESULTS AT FOUWAGBE AND SOUNSOUN, 24/02/2025 60,000M DRILL PROGRAM UN