Slide 1: Growing Production & Transformative Discoveries
GrowingProduction& Transformative Discoveries INVESTOR PRESENTATION • April 2026 K1 Vein, Kora Deposit Kainantu Gold Mine 2021 THAYER LINDSLEY AWARD Papua New Guinea (BEST GLOBAL DISCOVERY)
Slide 2: Forward-Looking and Cautionary Statements
Forward-Looking and Cautionary Statements TSX: KNT OTCQX: KNTNF This Presentation is being provided for information purposes only and does not constitute or form part of, and should not be construed as, an offer or invitation to sell or any solicitation of any offer to purchase or subscribe for any
Slide 3: K92 Mining – A Unique Tier-1 Opportunity
K92 Mining – A Unique Tier-1 Opportunity TSX: KNT OTCQX: KNTNF Rapid near-term growth to Tier 1 Mid-Tier Producer Large, high-grade resource with significant growth towards 500 koz AuEq pa at industry leading low costs potential from multiple deposits • Stage 3 Expansion to 300 koz AuEq pa (1.2 mtpa
Slide 4: Attractive Valuation - Compelling Re-Rate Opportunity
Attractive Valuation - Compelling Re-Rate Opportunity TSX: KNT OTCQX: KNTNF P / NAV 2025 – 2028E Production Growth (koz AuEq) 2025 Prod (koz) 2028E Prod (koz) 900 800 700 Peer Average: 1.04x 600 +31% 500 +130% 400 300 200 100 - Alamos Lundin Torex Centerra Fortuna Orla Dundee Wesdome K92 G Mining Go
Slide 5: Amongst The Highest Grade, Lowest Cost Operating Mines Globally
Amongst The Highest Grade, Lowest Cost Operating Mines Globally TSX: KNT OTCQX: KNTNF Proven and Probable Reserves (>1 Moz Contained Ounces) and AISC (US$/oz Au) Judd 1365 Level Operation 1 Company Reserve Grade 2025 Grade BMO Forecasted 2026 AISC (Au g/t) (Au g/t) ($/oz Au)5 Macassa Agnico Eagle 8.
Slide 6: Located Amongst World Class Geology and Excellent Infrastructure
Located Amongst World Class Geology and Excellent Infrastructure TSX: KNT OTCQX: KNTNF Natural Resource Friendly Jurisdiction Large ~830 km2 land package along major regional • Multiple Senior Mining Companies Operating (Barrick, Harmony, Newmont) structure hosting multiple large world-class • Vibra
Slide 7: Corporate Structure
Corporate Structure TSX: KNT OTCQX: KNTNF Key Financial Data (as at December 31/25) Fully Funded to Execute Growth Trajectory Symbol TSX: KNT, OTCQX: KNTNF Strong Cash Balance Fully Diluted Shares Outstanding 247.3 Cash and Cash Equivalents US$231m Significant Available Liquidity From Credit Facilit
Slide 8: Delivering Sustainable Value – 2024 Sustainability Report
Delivering Sustainable Value – 2024 Sustainability Report TSX: KNT OTCQX: KNTNF • Outstanding Community Humanitarian Initiative awarded by the PNG Chamber of Resources and Energy in 2024 for the K92 Sustainable Livelihoods Agriculture Program Communities • Creating business opportunities for landown
Slide 9: Value Creation Through Discovery
Value Creation Through Discovery TSX: KNT OTCQX: KNTNF May 2017 October / December 2021 September 2023 (Long Sections, Looking West) Kora North Kora and Judd Kora and Judd 1.7 moz at 11.6 g/t AuEq Inferred1 2.3 moz at 9.3 g/t AuEq Measured & Indicated 2.6 moz at 10.0 g/t AuEq Measured & Indicated 2.
Slide 10: 2025 Was A Transformational Year for K92
2025 Was A Transformational Year for K92 TSX: KNT OTCQX: KNTNF Stage 3 Expansion Process Plant Grand Opening on October 16 – Delivered Under Budget 10
Slide 11: 2026 Operational Guidance – Another Major Step Forward Planned
2026 Operational Guidance – Another Major Step Forward Planned TSX: KNT OTCQX: KNTNF Key Figures Key Highlights • Production Growth: Production in H2 2026 is expected to be the strongest, Amount driven by the ramp-up of ore tonnes mined and processed from two new mining fronts & the completion of ma
Slide 12: Systematically Executing to Become a Tier 1 Mid-Tier Producer
Systematically Executing to Become a Tier 1 Mid-Tier Producer TSX: KNT OTCQX: KNTNF Plant Commissioning Targeting Late 2027 Completed Dec 2025 Commissioning 4Q 2020 2Q 2023 Stage 4 Stage 3 1,800,000 tpa Stage 2 Stage 2A 1,200,000 tpa +400 koz AuEq pa 400,000 tpa 500,000 tpa 300 koz AuEq pa Via Low C
Slide 13: Operational Performance – Since Commercial Production
Operational Performance – Since Commercial Production TSX: KNT OTCQX: KNTNF AuEq Production (koz), Cash Cost ($/oz AuEq) and AISC ($/oz AuEq) Significant Portion of Sustaining Capex is for Upcoming Expansions Stage 2 Expansion Operational Plant Commissioned Impact Due to Temporary Suspension of Unde
Slide 14: Kainantu Mine Execution
1Q19 27kt 2Q19 38kt 3Q19 32kt 4Q19 30kt 1Q20 47kt 2Q20 49kt 3Q20 65kt 4Q20 69kt 1Q21 73kt 2Q21 76kt 3Q21 88kt 4Q21 100kt 1Q22 100kt 2Q22 109kt 3Q22 118kt 4Q22 122kt 1Q23 118kt 2Q23 112kt 3Q23 121kt 4Q23 152kt 1Q24 131kt 2Q24 96kt Total Ore Processed (kt) 3Q24 105kt 4Q24 97kt 1Q25 103kt 2Q25 130kt 3Q
Slide 15: Strong Process Plant Performance
Strong Process Plant Performance TSX: KNT OTCQX: KNTNF Recoveries Gold Copper New Stage 3 Expansion Process Plant performed well in its first operating quarters, delivering strong recoveries & multiple daily throughput records above the 3,290 tpd design (Dec 13: 3,794t, Dec 14: 3,822t, Jan 12: 3,577
Slide 16: Near-Term Mine Transformation: Major Infrastructure Upgrades
Near-Term Mine Transformation: Major Infrastructure Upgrades TSX: KNT OTCQX: KNTNF Kora-Irumafimpa Planned Twin Incline and Development Long Section (Looking West) 1 Twin Incline Scope: High Speed 2.9km twin incline, capable of +5 mtpa with conveyors Status: Effectively Complete Impact: Transforms m
Slide 17: Rapid Ore Transport - Twin Incline Complete
Rapid Ore Transport - Twin Incline Complete TSX: KNT OTCQX: KNTNF Existing Incline to Main Mine New Twin Incline (#2) Transported 1 mt (waste & ore) in 2022 High Speed, Large Travel way, Gradual Gradient 6.5 metres 4.5 metres 4 metres 6 metres The Twin Inclines Are Effectively An Underground Express
Slide 18: Internal Ramp System – Major Underground Milestone
Internal Ramp System – Major Underground Milestone TSX: KNT OTCQX: KNTNF On January 24, 2026, the Main Mine’s Internal Ramp (Decline) was connected to the Twin Incline’s Internal Ramp (Incline) creating “One Mine”, where all mining fronts are linked by common infrastructure to the highly productive
Slide 19: Ore Pass System – Major Milestone with First Tonnes Moved
Ore Pass System – Major Milestone with First Tonnes Moved TSX: KNT OTCQX: KNTNF First Ore/Waste Pass Tonnes Moved in Early August The Pass Significantly Improves Material Handling Productivity Multiple surface haulage records achieved following material pass commissioning and integration of surface
Slide 20: Fan Chamber – New Primary Fans Commissioning Planned in Mid-2026
Fan Chamber – New Primary Fans Commissioning Planned in Mid-2026 TSX: KNT OTCQX: KNTNF 15 metres 9.5 metres The new primary fans can deliver airflow up to 3x current rates to +600m3/s (expandable to ~700m3/s via benching of the Puma Ventilation Drive). To conserve power, the fans will initially oper
Slide 21: Improved Mine Power Delivery – Primary Standby Power Station Complete
Improved Mine Power Delivery – Primary Standby Power Station Complete TSX: KNT OTCQX: KNTNF Phase 1 Expansion Complete – 8th Generator to 10.7 MW Prime Power Output Phase 2 Expansion - 15.3 MW Prime Power Output The 10.7 MW (Prime Power) Primary Power Station commissioned in Q4 (increased from 8.8 M
Slide 22: 3x Increase of Mining Fronts
3x Increase of Mining Fronts TSX: KNT OTCQX: KNTNF Kora-Irumafimpa Long Section (Looking West) 1 Current Mining Front (Kora and Judd) 2 Current Status: Developing Four Sublevels Concurrently 3 Current Status: Developing Five Sublevels Concurrently 4 2027: New Mining Front Once Pastefill Online There
Slide 23: Multiple Production Stoping Enhancements Being Introduced
Multiple Production Stoping Enhancements Being Introduced TSX: KNT OTCQX: KNTNF Surface Operated Teleremote System – Commissioned Three additional Sandvik 517i loaders now operational YTD. One more arriving Q2 2026. Surface operated teleremote system commissioned, allowing for up to 24 hr/day operat
Slide 24: Strong PNG Government and Key Stakeholder Support
Strong PNG Government and Key Stakeholder Support TSX: KNT OTCQX: KNTNF February 2025 Site Visit – Delegation Led by the March 2025 Site Visit – Delegation Led by August 2025 Site Visit – Delegation Led by late Hon. Luther Wenge Governor of EHP Province Hon. Simon Sia Minister for Mining Hon. Rainbo
Slide 25: Near-Term Delivery of Stage 3 & 4 Expansions
Near-Term Delivery of Stage 3 & 4 Expansions TSX: KNT OTCQX: KNTNF 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 New Standalone Stage 3 Expansion Process Plant (1.2 mtpa) Pastefill Plant Process Capacity Ramp-up to 1.8 mtpa Mine Ramp-up to 1.8 mtpa +150 m3/s +200 m3/s +350 m3/s Up to 600 m3/s P
Slide 26: Stage 3 Expansion Process Plant
Stage 3 Expansion Process Plant TSX: KNT OTCQX: KNTNF Commissioning of the New 1.2 Mtpa Process Plant Completed Under Budget 26
Slide 27: Ancillary Construction Projects Progressing Well
Ancillary Construction Projects Progressing Well TSX: KNT OTCQX: KNTNF Interim Power Station - Complete Warehouse Construction - Complete New Kumian Creek Camp - Complete Primary Standby Power Station New Maintenance Facilities - In Progress Phase 1 Expansion Complete (10.7 MW Prime Power Output(1))
Slide 28: Stage 3 Expansion Update – Underground Paste Plant Advancing
Stage 3 Expansion Update – Underground Paste Plant Advancing TSX: KNT OTCQX: KNTNF Underground Paste Plant Surface Storage System Near Portal Tailings Filtration Plant Underground Pastefill Excavations are being progressively handed over to Projects Team commencing with the 1205 Silo Chamber, 1205 B
Slide 29: Pastefill Plant Infrastructure Construction Advancing
Pastefill Plant Infrastructure Construction Advancing TSX: KNT OTCQX: KNTNF Tailings Filter Plant Surface Storage Area Near Portal Tailings Filter Plant Structural, Mechanical, Electrical and Piping installations are now practically complete and Dry and wet commissioning activities have commenced. C
Slide 30: Major Improvement to Mine-Mill Transport Capacity Underway
Major Improvement to Mine-Mill Transport Capacity Underway TSX: KNT OTCQX: KNTNF Kasese River Crossing Baupa Bridge - Complete Kokomo Bridge Several roads and river crossings are concurrently being upgraded to improve haulage capacity and operational efficiency. Baupa bridge recently complete. 30
Slide 31: Multiple High Priority Near-Mine Targets
Multiple High Priority Near-Mine Targets TSX: KNT OTCQX: KNTNF Multiple High Priority Near-Mine Vein and Porphyry Targets Airborne Geophysics and Target Locations Kora & Kora Deeps (Vein) 1 • Kora open to depth and along strike Kora South & Judd South (Vein) 2 • • Structure extends +1km beyond minin
Slide 32: Exploration Target: Kora, Kora South, Kora North & Kora Deeps
Exploration Target: Kora, Kora South, Kora North & Kora Deeps TSX: KNT OTCQX: KNTNF Kora Deeps Drilling Has Commenced Targeting to 500m RL over the next 12 months Multiple Highly Prospective Exploration Fronts Being Drilled Concurrently Kora Deeps, Kora North and South Deeps Underway from Twin Incli
Slide 33: Judd and Judd South Vein System is Very Underexplored
Judd and Judd South Vein System is Very Underexplored TSX: KNT OTCQX: KNTNF Judd Deeps Drilling Has Commenced Targeting to 500m RL over the next 12 months Judd is Sparsely Drilled, Has at Least 4 Known Veins and Open in All Directions Significant Amount of Drilling Completed Since the Judd Resource
Slide 34: Copper Grade Tenor Increasing to the South towards A1 Porphyry
Copper Grade Tenor Increasing to the South towards A1 Porphyry TSX: KNT OTCQX: KNTNF K2 Vein Copper Grade (%) Long-Section (Looking West) K1 Vein Copper Grade (%) Long-Section (Looking West) Copper grades and tenor continue to increase south toward A1 with the K1 Vein returning higher copper grades
Slide 35: High Priority Exploration Targets: Arakompa and Maniape
High Priority Exploration Targets: Arakompa and Maniape TSX: KNT OTCQX: KNTNF Arakompa and Maniape Veins Key Facts • Arakompa – Sparsely drilled, open along strike, at depth and along its width • Located ~4.5km from Kainantu process plant, with similar mineralization to the producing high grade Kora
Slide 36: Sizeable Bulk Tonnage Zone Defined & Porphyry-Style Mineralization Discovered
Sizeable Bulk Tonnage Zone Defined & Porphyry-Style Mineralization Discovered TSX: KNT OTCQX: KNTNF Arakompa Target is Very Large: +2km Strike, +800m Vertical and +400m Wide Corridor – Open Along Strike, Depth & Width Southernmost step-out testing 600m x 600m copper-in-soil anomaly intersected signi
Slide 37: Two Major High-Grade Veins Confirmed to Date – AR1 and AR2
Two Major High-Grade Veins Confirmed to Date – AR1 and AR2 TSX: KNT OTCQX: KNTNF Drilling at Arakompa has delineated two major sub-parallel veins AR1 and AR2, defined over extensive strike and depth Both veins open in multiple directions, with substantial average mineralisation widths of ~3 metres N
Slide 38: Arakompa is Growing Very Rapidly
Arakompa is Growing Very Rapidly TSX: KNT OTCQX: KNTNF Feb 2024 June 2024 Oct 2024 Feb 2025 Sept 2025 19 New Holes Reported (2 Holes Reported) (11 Holes Reported) (30 Holes Reported) (43 Holes Reported) (67 Holes Reported) Arakompa is rapidly & efficiently growing – just over 65% of strike has been
Slide 39: New Greenfields Discovery – Large Vein System at Wera
New Greenfields Discovery – Large Vein System at Wera TSX: KNT OTCQX: KNTNF Wera Vein System Key Facts • Wera – low-sulphidation epithermal gold system • Road accessible and located ~10km SW from Kora and Judd • Target identified from airborne geophysics MobileMT Survey and review of historical data
Slide 40: Significant Pipeline of Highly Prospective Exploration Targets
Significant Pipeline of Highly Prospective Exploration Targets TSX: KNT OTCQX: KNTNF Vein Targets Porphyry Targets Kora/Judd Skarn Operations Kora South / Epithermal & Skarn Judd South Current Exploration Focus Feasibility Exploration Planned Within 24 months Pre-Feasibility Concept Blue Lake Resour
Slide 41: Appendix
MINING INC.
Slide 42: Management & Directors
Management & Directors TSX: KNT OTCQX: KNTNF Management Team Board of Directors Mineral engineer with +35yrs of global experience (Africa, Australia, Asia, N. America Over 35 years' experience as a lawyer, senior executive, director, journalist and author, John Lewins & former Soviet Union) at proje
Slide 43: 2030 GHG Emissions Reduction Target
2030 GHG Emissions Reduction Target TSX: KNT OTCQX: KNTNF 40% lower carbon intensity compared to global average K92 has set a target to reduce Scope 1 and Scope 2 emissions by 25% on a business-as-usual basis by 2030 Kainantu has below industry average emissions and we are committed to further impro
Slide 44: Kora Deposit Overview & Mining Conditions Summary
Kora Deposit Overview & Mining Conditions Summary TSX: KNT OTCQX: KNTNF Deposit: Intermediate Sulphidation Multiple sub-vertical Au-Cu-Ag sulphide veins Focus is on the K1 and K2 veins, with the system also hosting other veins and link structures AuEq Reserve Grade: 8.6g/t – 6.6g/t Au, 19g/t Ag, 1.1
Slide 45: Judd Deposit Overview & Mining Conditions Summary
Judd Deposit Overview & Mining Conditions Summary TSX: KNT OTCQX: KNTNF Deposit: Intermediate Sulphidation Multiple sub-vertical Au-Cu-Ag sulphide veins, located ~150-200m east of Kora Focus is on the J1 vein, with the system also hosting at least three other veins AuEq Reserve Grade: 8.1g/t – 7.1g/
Slide 46: Kora and Judd Independent Reserve Estimate
Kora and Judd Independent Reserve Estimate TSX: KNT OTCQX: KNTNF Kora and Judd Deposit Reserve Summary (January/2024) Tonnes Gold Silver Copper Gold Equivalent mt g/t moz g/t moz % kt g/t moz Kora Deposit Proven 2.95 7.4 0.70 19 1.9 1.1 31 9.4 0.89 Probable 2.52 5.7 0.46 19 1.6 1.0 26 7.6 0.61 Prove
Slide 47: Kainantu Consolidated NI 43-101 Resources
Kainantu Consolidated NI 43-101 Resources TSX: KNT OTCQX: KNTNF Kora and Judd Deposit Resource Summary (September/2023) Tonnes Gold Silver Copper Gold Equivalent mt g/t moz g/t moz % kt g/t moz Kora Deposit Measured 3.7 8.7 1.0 21 2.5 1.2 45 11.0 1.3 Indicated 3.1 7.0 0.7 22 2.2 1.3 41 9.4 1.0 Measu
Slide 48: Efficient and Systematic Exploration – Kora and Judd
Efficient and Systematic Exploration – Kora and Judd TSX: KNT OTCQX: KNTNF M&I – Kora and Judd (moz AuEq) Inferred – Kora and Judd (moz AuEq) Total – Kora and Judd (moz AuEq) (1) Production Depletion M&I Inferred Production Depletion 8.0 7.4 moz 0.3 moz 9.2 g/t 7.0 6.0 4.5 moz AuEq, 8.5g/t 4.5 moz 4
Slide 49: Latest Drilling Results Kora-Kora South – K1 Vein (February 18, 2026)
Latest Drilling Results Kora-Kora South – K1 Vein (February 18, 2026) TSX: KNT OTCQX: KNTNF Key Facts • All holes intersected mineralization • High-grade zone extended up-dip from main underground mining area with higher grades than resource model in multiple zones, including: • KMDD0893 – 4.95 m at
Slide 50: Latest Drilling Results Kora-Kora South – K2 Vein (February 18, 2026)
Latest Drilling Results Kora-Kora South – K2 Vein (February 18, 2026) TSX: KNT OTCQX: KNTNF Key Facts • All holes intersected mineralization • Dilatant zone now defined 100 m along strike by 200 m vertical extent, located ~50m from existing underground infrastructure — supporting near-term bulk mini
Slide 51: Latest Drilling Results Judd-Judd South – J1 Vein (February 18, 2026)
Latest Drilling Results Judd-Judd South – J1 Vein (February 18, 2026) TSX: KNT OTCQX: KNTNF Key Facts • All holes intersected mineralization • Multiple thick, high-grade intercepts at Judd Deeps up to 300 m below the Twin Incline and 350 m below the MRE, defining 450 m of strike to date, remaining o
Slide 52: Airborne Geophysics Identifies Many New Targets
Airborne Geophysics Identifies Many New Targets TSX: KNT OTCQX: KNTNF Key Facts • Advanced MobileMT deep penetrating airborne geophysics flown over the entire ~830 km2 land package • First major geophysics program completed on property in +10 years • Results demonstrate an extensive untested potenti
Slide 53: Blue Lake Porphyry Project - Significant Potential to Grow Resource Size
Blue Lake Porphyry Project - Significant Potential to Grow Resource Size TSX: KNT OTCQX: KNTNF 10.8 moz AuEq / 2.9 blbs CuEq Maiden Inferred Resource Declared in August 2022 Grade Tenor Increasing with Depth & High Grade Potassic Core is Open at Depth Note: Estimates are based on Technical Report ti
Slide 54: Blue Lake Porphyry Project – 14.6 moz Maiden Resource (August 2022)
Blue Lake Porphyry Project – 14.6 moz Maiden Resource (August 2022) TSX: KNT OTCQX: KNTNF Blue Lake Resource Summary (August 2022) Large 14.6 moz AuEq Inferred Resource Tonnes Gold Silver Copper Gold Equivalent mt g/t moz g/t moz % mt g/t moz Blue Lake Inferred 686 0.19 4.2 2.4 53.6 0.21 1.4 0.66 14
Slide 55: Kora and Judd Highlight Intersections From Presentation Images
Kora and Judd Highlight Intersections From Presentation Images TSX: KNT OTCQX: KNTNF Interval True width True width True width Drill Hole ID Gold g/t Silver g/t Copper % Gold Eq Drill Hole ID Interval (m) Gold g/t Silver g/t Copper % Gold Eq Drill Hole ID Interval (m) Gold g/t Silver g/t Copper % Go
Slide 56: Arakompa Highlight Intersections From Presentation Images
Arakompa Highlight Intersections From Presentation Images TSX: KNT OTCQX: KNTNF True width True width True width True width Hole_ID From (m) To (m) Interval (m) Gold g/t Silver g/t Copper % Gold Eq Hole_ID From (m) To (m) Interval (m) Gold g/t Silver g/t Copper % Gold Eq Hole_ID From (m) To (m) Inte
Slide 57: John Lewins CEO & Director
John Lewins CEO & Director Contact: David Medilek, P.Eng., CFA President & COO E-mail: dmedilek@k92mining.com Phone: +1 (604) 416 4445