Ariana Resources Plc · LSE:AAU
Ariana Resources — Shareholder Meeting (May 2026)
21 slides from Ariana Resources's shareholder meeting presentation, May 29, 2026
Slide 1: AGM Presentation: 29 May 2026
For personal use only AGM Presentation: 29 May 2026 AAU AA2 ARIANA RESOURCES PLC | APRIL 2025 1
Slide 2: Disclaimer and Important Notices
Disclaimer and Important Notices DISCLAIMER The information provided in this presentation and any accompanying verbal presentation (together, the “Presentation Materials”) have been FORWARD LOOKING STATEMENTS prepared by Ariana Resources plc ("Ariana" or the "Company") as at May 2026. The informatio
Slide 3: Investment Highlights
Investment Highlights Zimbabwe's largest undeveloped gold project with tier-one economics Low Capex, For personal use only Outstanding Value Proposition High Margin Project ● Mineral exploration and development company focused on the ● Leading Zimbabwean development asset, with Life of Project flags
Slide 4: Company Overview
Company Overview Flagship gold project with an Ore Reserve of 1.13Moz FLAGSHIP ASSET OTHER ASSETS For personal use only DOKWE PROJECT | 100% Owned A DEVELOPMENT | ZIMBABWE B TÜRKIYE | KOSOVO | CYPRUS • Located approximately 110km west- B Recent sale of 13.6% Interest in Zenit Mining in northwest of
Slide 5: Why Zimbabwe?
Why Zimbabwe? Established and mature mining jurisdiction, coupled with deep in-country expertise ESTABLISHED AND MATURE MINING JURISDICTION For personal use only • Major global resource companies operating in country • Politically stable since 1980 with Zanu-PF remaining in power • Established and l
Slide 6: Corporate Overview
Corporate Overview Financial position and shareholder base CAPITALISATION SUMMARY SHAREHOLDER SUMMARY For personal use only Share price (CDIs) A$0.37 CDIs on issue (1 CDI = 10 Ordinary Shares) 49.9m Newmont Mining Corp. Share price (Ordinary Shares)1 £0.02 (Strategic Investor) Shares on issue (inclu
Slide 7: Corporate Overview: Board and management team
Corporate Overview Experienced board and management team with global on-the-ground experience KEY BOARD AND MANAGEMENT PERSONNEL For personal use only Dr Kerim Sener – Managing Director & Founder Kerim is an exploration geologist with extensive precious metals exploration, resource development and M
Slide 8: PFS Highlights
For personal use only Dokwe Gold Project - PFS Highlights
Slide 9: PFS Highlights
PFS Highlights Outstanding economic outcomes for the optimised and updated PFS For personal use only MATERIAL ORE RESERVE LIFE OF PROJECT (LoP) STRONG PRODUCTION NPV10 (Pre-tax) INCREASE 20 years PROFILE US$1,056M (A$1,509M) c.42% to 1.13Moz Plant throughput NPV10 (Post-tax) Potential to increase th
Slide 10: Project Summary
Project Summary Dokwe represents the largest undeveloped gold project in Zimbabwe1 DOKWE PROJECT DESCRIPTION DOKWE PROJECT OVERVIEW For personal use only • Dokwe Gold Project consists of the Dokwe North and Dokwe Central deposits and includes a number of untested exploration opportunities across the
Slide 11: PFS Overview - Economics
PFS Overview - Economics Robust economics and project sensitivity KEY ECONOMIC METRICS ANNUAL GOLD PRODUCTION PROFILE1 For personal use only Metric Unit PFS Outcome Gold Price US$/oz 4,250 Life of Project (LoP) Years 20 Pre-tax NPV10 US$m 1,056 Post-tax NPV10 US$m 740 Pre-tax IRR % 92 Payback period
Slide 12: PFS Overview - Mining
PFS Overview - Mining Straightforward open-pit mining with upside KEY MINING METRICS MINED MATERIAL BY PIT STAGE (BCM) For personal use only Measure Units PFS Waste MBCM 69.6 Ore Volume MBCM 17 Total Material Volume MBCM 86.6 Strip Ratio (inc. Inferred) Ratio 3.7 Ore Tonnes Mt 47.6 Ore Grade g/t 0.8
Slide 13: PFS Overview - Processing
PFS Overview - Processing CIL processing with good metallurgy PROCESSING OVERVIEW PROCESSING PLANT CAPITAL COST ESTIMATE (US$) For personal use only • 2.5Mtpa nameplate capacity for the CIL processing facility, with Item PFS (US$M) flotation and intensive leach expected in later years EPC & Project
Slide 14: Planned Development Timeline
Planned Development Timeline Fast-tracking Dokwe development to production CY2026 CY2027 For personal use only Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ongoing optimisation of Dokwe costs and strategy Exploration & Resource Drilling Water Borefield Drilling Xinhai Metallurgical Testwork Additional Metallurgical Testwor
Slide 15: Feasibility Study Programme
Feasibility Study Programme Supported by industry recognised consulting and mining/process engineering groups For personal use only Consulting groups utilised during the revised PFS and as part of the Feasibility programme to date 15
Slide 16: Catalysts
Catalysts Strong re-rate potential as Dokwe progresses to DFS release DFS For personal use only Completion of DFS anticipated for Q1 2027 EXPLORATION Further exploration and resource drilling programmes being planned across Dokwe North and Central areas in particular, including for sterilisation dri
Slide 17: Other Projects
For personal use only Other Projects
Slide 18: Other Assets
Other Assets Include a copper-gold-silver portfolio across other regions and development stages For personal use only EXPLORATION | KOSOVO & CYPRUS 13.6% interest in Zenit Madencilik San. ve Tic. A.Ş. (Zenit) sold recently to Özaltın Holdings A.Ş. for • Slivova Gold Project (39%) advanced gold proje
Slide 19: Summary
Summary Opportunity, upside and with a track-record of delivery Exploration and development company with a 1.6Moz Resource and For personal use only OUTSTANDING VALUE 1.1Moz Reserve and an EV/Resource and EV/Reserve of A$32/oz and PROPOSITION A$45/oz, respectively1 LOW CAPEX HIGH MARGIN Robust PFS e
Slide 20: Additional Statements
Additional Statements Competent Person and Compliance Competent Persons Statements Compliance Statements For personal use only The information in this announcement relating to the Mineral Resource The information in this announcement relating to Mineral Resources, Ore Estimate at the Dokwe Gold Proj
Slide 21: For personal use only
For personal use only 2nd Floor, Regis House, 45 King William Street London, EC4R 9AN, UK +44 (0)203 476 2080 info@arianaresources.com 21