Greatland Resources Limited · ASX:GGP
Greatland Resources — Investor Presentation (March 2026)
46 slides from Greatland Resources's investor presentation, March 2026
Slide 1: A Leading Australian Gold-Copper Producer
A Leading Australian Gold-Copper Producer in Western Australia’s Paterson Province Corporate Presentation March 2026
Slide 2: Disclaimer
Disclaimer The summary information contained in this document has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Greatland Resources Limited (Greatland or Company). This document and
Slide 3: Important Information
Important Information Production Target - Havieron The information in this presentation that relates to the Feasibility Study for the Havieron Project (FS) and its outcomes, and the FS Life of Mine (LOM) Production Target (and the forecast financial information derived from the Production Target) ar
Slide 4: Greatland overview
Greatland overview
Slide 5: A new leading Australian gold-copper producer
A new leading Australian gold-copper producer Havieron Feasibility Study completed Owner of the Telfer mine & December 2025, confirming pathway nearby world-class brownfield to a world-class, long-life, lowest Havieron project in WA quartile cost Australian gold-copper mine, leveraging existing infr
Slide 6: Telfer at a glance
Telfer at a glance Telfer is an iconic Western Australian gold-copper mine that Greatland acquired in December 2024 Mining Processing Production Established large 20Mtpa combined Produces gold doré scale open pit and nominal processing and copper-gold underground capacity across dual concentrate con
Slide 7: Havieron at a glance
Havieron at a glance A foundation asset Long life Lowest quartile cost Large scale Initial FS mine life of Steady state avg. AISC of Life of mine production of $1,610/oz 1,3 under 4.0Moz AuEq 1,5 17+ years, inc. 9 years Havieron standalone steady state 1 scenario, with potential to reduce if Telfer
Slide 8: Company overview
Company overview Capitalisation1 Share price (Close 6 March 2026) $12.41 Shares outstanding 673m Market capitalisation $8.4Bn Cash (at 31 Dec 2025) $948m Debt (at 31 Dec 2025) 2 - Net cash (at 31 Dec 2025) $948m Working capital facility 3 $75m Total Available Liquidity (at 31 Dec 2025) $1,023m Listi
Slide 9: A leading ASX gold company
A leading ASX gold company Greatland joined the ASX in June 2024, establishing a new substantial mid-cap Australian gold producer ASX listed Australian gold companies by market cap (A$bn) 1 38.6 30.0 8.1 8.4 7.5 7.7 6.3 6.4 6.1 5.5 4.1 3.6 3.1 2.4 2.5 1.8 2.0 (1) Primary ASX listed gold companies wi
Slide 10: Strong relative H1 FY26 on key financial metrics
Strong relative H1 FY26 on key financial metrics Greatland generated superior free cashflow per ounce and EV/EBITDA in H1 FY26 H1 FY26 Free Cashflow / Gold Produced (A$/oz)1 EV / H1 FY26 EBITDA (annualised)1 2,688 3.0 2,544 4.6 2,431 5.3 2,257 5.8 1,994 6.5 1,903 6.8 1,769 6.9 1,713 7.6 1,659 8.2 1,
Slide 11: Telfer - established mine & infrastructure
Telfer - established mine & infrastructure
Slide 12: Telfer is the third largest gold or gold-copper processing capacity in Australia
Telfer is the third largest gold or gold-copper processing capacity in Australia Australian Gold or Gold-Copper Plant Processing Capacity Plant throughput (Mtpa) 45 Modular plant provides optionality: 40.0 40 Telfer is the only operating processing plant in the Paterson region Telfer has two 10M
Slide 13: Economies of scale enable sector leading processing cost efficiency
Economies of scale enable sector leading processing cost efficiency Telfer is largest and lowest cost processing facility amongst Australian ASX listed gold mines ASX Australian Gold Mines – FY25 Processing Cost (A$/t) and Mill Throughput (Mtpa) 80 Bellevue 70 60 Davyhurst Mount Monger Processing Co
Slide 14: Greatland driving operational performance at Telfer
Greatland driving operational performance at Telfer Improved outcomes being achieved by the greater focus placed on the asset by a mid-tier mining company compared to a major Gold recovery1 Production and margin4,5 Highest gold recovery across the last 5 years achieved under Greatland ownership Sign
Slide 15: Investment is being made across mine development, infrastructure and fleet for multi-year life extension at Telfer
Investment is being made across mine development, infrastructure and fleet for multi-year life extension at Telfer FY26 Telfer growth capital guidance of $230 – 260m1 to fund key investments in further life extension Investing in Telfer’s multi-year life extension FY26 Telfer Growth Capital1 FY26 FY
Slide 16: 240km Telfer drilling planned in FY26, the largest program in its history
240km Telfer drilling planned in FY26, the largest program in its history Targeting extensions and conversions at West Dome open pit, Main Dome underground and West Dome Underground 240 Telfer drilling by financial year (km)1 Transformational FY26 for Telfer drilling, with >240km of drilling, the la
Slide 17: Havieron – a world class asset
Havieron – a world class asset
Slide 18: Physicals
Physicals Life-of-Mine (LOM)1 Steady State (SS)1 50.3Mt 3.9Mtpa Ore Mined 17+ yrs LOM 9 yrs steady state 2.52g/t Au 2.47g/t Au Grade Processed 2.84g/t AuEq 4 2.77g/t AuEq 4 0.30% Cu 0.29% Cu Metal Produced 2 3.53Moz Au 130kt Cu 266koz Au p.a. 9.6kt Cu p.a. 38.5Mt 3.3Moz Au 3rd largest Australian Ore
Slide 19: Financial outcomes – Havieron Standalone base case
Financial outcomes – Havieron Standalone base case Outcomes under the conservative ‘Havieron Standalone’ base case operating cost model that assumes no extension of the current Telfer mine life A$4,500/oz Long Term Gold A$6,250/oz Spot Gold Free Cash Flow (post-tax, unlevered) 1 $5.4 billion $9.6 bi
Slide 20: Pairing Australia's 2nd largest gold project with 3rd largest gold-copper processing facility
Pairing Australia’s 2nd largest gold project with 3rd largest gold-copper processing facility … being paired with Telfer, the third largest gold or gold-copper processing capacity Havieron is one of Australia’s largest undeveloped high-grade gold projects… mill in Australia Resource Moz AuEq Process
Slide 21: Havieron Ore Reserve
Havieron Ore Reserve Australia’s largest underground reserve outside of a Major, at a conservative A$2,500/oz gold price Moz AuEq1 Grade (g/t AuEq) 1 25 24.6 7.30 8.00 5.1 6.70 5 6.40 7.00 5.27 5.37 5.30 6.00 4 3.7 4.80 4.70 4.54 5.00 3.2 3.0 3.90 3.70 3 4.00 2.98 4.20 2.4 3.00 3.00 2.0 2.60 2.64 3.
Slide 22: A foundation asset to create a significant asset portfolio
A foundation asset to create a significant asset portfolio Steady state Havieron would be the 6th largest current ASX primary listed Australian gold mine at 2nd lowest AISC (relative to FY26 guidance) AISC (A$/oz) ASX-listed Australian Gold Mines Cost Curve (FY26 Guidance) Production (koz Au) 3,500
Slide 23: Illustrative 'Telfer Hub' operating cost scenario
Illustrative ‘Telfer Hub’ operating cost scenario Co-processing of Havieron ore with feed from Telfer, utilising surplus Telfer processing plant capacity Illustrative scenario: Havieron ore is co-processed Train 1 Train 2 with feed from Telfer 10Mtpa Nominal Capacity 10Mtpa Nominal Capacity • Havier
Slide 24: Havieron underground development and mine plan
Havieron underground development and mine plan Large scale Sub Level Open Stope mining with efficient conveyor haulage materials handling system VR3 & VR5 VR2 & VR4 2 VR1 Box-Cut entry via surface Conveyor decline Main decline Chainage meters completed: 2,129m1 Chainage meters yet to complete: 781m1
Slide 25: Life of mine physicals and AISC
Life of mine physicals and AISC Steady state average annual production of 266koz gold at lowest quartile AISC $1,610/oz Mining Truck Haulage Ore (Mt) Steady State Period 1 Opportunity to extend ore production from Grade Mt significant residual resources outside mine plan Waste (Mt) Avg. ore mined: 3
Slide 26: Havieron residual Mineral Resource – Long-term optionality
Havieron residual Mineral Resource – Long-term optionality Significant residual Mineral Resources remain outside the Feasibility Study LOM mining inventory 10,000 AuEq 8,000 6,000 4,000 2,000 Base of Permian cover OPVM 1 Outside of mine plan - Havieron residual Mineral Resource Tonnage Grade Metal c
Slide 27: Strong funding position
Strong funding position Havieron development expected to be fully funded from existing cash, ongoing Telfer cash flow, and A$500 million corporate debt commitment 1 3 Strong Cash Position Corporate Debt 1. Cash: $948m (at 31 December 2025) Commitment Letter signed for a Syndicated Debt Facility ✓ Co
Slide 28: Indicative development schedule
Indicative development schedule Definitive schedule to be confirmed at FID, following receipt of primary environmental approvals Timeline PP0 PP1 PP2 Year 1 Year 2 Year 3 Year 4+ Receipt of primary environmental approvals Final Investment Decision (FID) Bank Debt Facilities Finalised Post satisfacti
Slide 29: Investment proposition
Investment proposition A leading Australian gold-copper producer with a platform for growth Production Mine life Infrastructure Funding Growth Telfer is a top 10 World class Havieron Leveraging the scale Strong balance sheet Investing in Australian gold- development and flexibility of with available
Slide 30: For further information
For further information info@greatland.com.au https://greatland.com.au
Slide 31: Board of Directors / Executive team
Executive team Board of Directors Shaun Day Mark Barnaba Managing Director Non-Executive Chairman Mining and infrastructure focused finance executive Previously CFO of Northern Star Resources, Sakari Resources and Straits Resources Deputy Chairman of Fortescue Ltd Previously Board Member of
Slide 32: Experienced technical leadership team
Experienced technical leadership team Greatland has assembled an experienced technical leadership team with a strong track record Greatland Years of Greatland Years of Employee Prior roles include Employee Prior roles include Position experience Position experience Senior exploration and Managing CF
Slide 33: FY26 Guidance and YTD Performance
FY26 Guidance and YTD Performance (to 31 December 2025) Expected to trend towards upper end for production, lower end for AISC Gold Production AISC 260-310koz Au $2,400-$2,800/oz Au YTD: 167.2koz YTD: $2,176/oz Growth Capex Exploration & Telfer Havieron Pre-FID Resource Development $230-260m $60-70m
Slide 34: Telfer Resource Development – West Dome Open Pit
Telfer Resource Development – West Dome Open Pit December quarter drilling focused on Stage 7 and Stage 2 extension, two key cutback opportunities that target multi-year extension of the West Dome Open Pit Stage 7 Extension of existing Stage 7 cutback towards the north Expected to provide Telfer
Slide 35: Telfer Resource Development – West Dome Underground
Telfer Resource Development – West Dome Underground A large, new mineralised system emerging at Telfer with outstanding growth potential WDU Extensional drilling and increasing drill density has improved understanding of the WDU, with three mineralised domains now confirmed: Broad, sub-vertical
Slide 36: Telfer Resource Development – West Dome Underground (cont'd)
Telfer Resource Development – West Dome Underground (cont’d) December quarter drilling at West Dome Underground (WDU) delivered highest grade results yet WDU Two underground diamond drill rigs operated throughout the quarter, with a third rig now allocated to accelerate drilling in H2 FY26 WDU P
Slide 37: Havieron Capex breakdown
Havieron Capex breakdown Pre-Production capex delivers single decline trucking operation, Expansion capex delivers a second decline with conveyor haulage Pre-Production CAPEX: A$1,065m Expansion CAPEX: A$673m Indirects 16% Indirects Surface infra 8% 105 & utilities 6% 234 52 68 7 36 Underground deve
Slide 38: Greenfield exploration portfolio in the prospective Paterson region surrounding Telfer
Greenfield exploration portfolio in the prospective Paterson region surrounding Telfer Where ownership of the significant Telfer infrastructure enables a ‘hub and spoke’ strategy to potentially incorporate additional ore from regional sources Greatland has an exploration portfolio covering >2,000k
Slide 39: Greatland Mineral Resource & Ore Reserve statement
Greatland Mineral Resource & Ore Reserve statement Table 1: Telfer December 2024 Mineral Resource Estimate 1,2 Table 3: Havieron December 2023 Mineral Resource Estimate 1,4 Tonnage Grade Metal content Tonnage Grade Metal content Domain Classification (Mt) Au (g/t) Cu (%) Au (Moz) Cu (kt) Domain Clas
Slide 40: Australian gold or gold-copper processing capacity mill in Australia
Australian gold or gold-copper processing capacity mill in Australia Asset Company Milling Capacity (Mtpa) Source Boddington Newmont Corporation 40.0 Boddington Operations Western Australia Technical Report Summary (31 Dec 2021) Cadia Newmont Corporation 30.0 Newmont 2024 Annual Report Telfer Greatl
Slide 41: Processing unit cost and mill throughput
Processing unit cost and mill throughput Mill Processing Processing Site Company Throughput Unit Cost Source Cost (A$m) (Mtpa) (A$/t) Telfer1 Greatland Resources Ltd 249 18.8 13 ASX Announcement 29 July 2025 “June 2025 Quarterly Activities Report” King of the Hills Vault Minerals Ltd 109 5.2 21 ASX
Slide 42: Australian undeveloped gold projects mineral resource data
Australian undeveloped gold projects mineral resource data Gold MRE Gold Copper Contained Contained Tonnage Grade Contained Project Company Grade Grade Gold Copper Source (Mt) (g/t Gold (g/t Au) (% Cu) (Moz Au) (kt Cu) AuEq) (Moz AuEq) Northern Star Hemi 264 1.3 - 11.2 - - 11.2 ASX Announcement 2 De
Slide 43: Australia Underground Mines and Projects Ore Reserve
Australia Underground Mines and Projects Ore Reserve Contained ORE Contained Mine / Tonnage Gold Grade Copper Grade Contained Gold ORE Grade Company Copper Gold Source Project (Mt) (g/t Au) (% Cu) (Moz) (g/t AuEq) (Kt Cu) (Moz AuEq) Newmont Newmont 2024 Mineral Reserves 20 February 2025. Cadia 1 1,0
Slide 44: Australia Underground Mines and Projects Ore Reserve (cont'd)
Australia Underground Mines and Projects Ore Reserve (cont’d) Contained ORE Contained Mine / Tonnage Gold Grade Copper Grade Contained Gold ORE Grade Company Copper Gold Source Project (Mt) (g/t Au) (% Cu) (Moz) (g/t AuEq) (Kt Cu) (Moz AuEq) Northern ASX Announcement 15 May 2025 “Annual Mineral Reso
Slide 45: Australian Gold Mines original FY26 Production and AISC Guidance
Australian Gold Mines original FY26 Production and AISC Guidance Gold Production AISC Mine Company Source (koz Au) (A$/oz) Karlawinda Capricorn Metals 120 1,580 ASX Announcement 6 October 2025 “KGP on track for FY26 Guidance” Havieron Greatland Resources 266 1,610 ASX Announcement 1 December 2025 “H
Slide 46: Havieron Feasibility Study macroeconomic assumptions
Havieron Feasibility Study macroeconomic assumptions Base case assumptions FY28 FY29 FY30 FY31 FY32+ (LT) Gold price (A$/oz) 5,000 5,000 4,800 4,554 4,500 Copper price (A$/t) 16,306 16,306 16,022 15,747 15,747 AUD:USD 0.68 0.68 0.69 0.70 0.70 Spot case assumptions FY28 FY29 FY30 FY31 FY32+ (LT) Gold
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