Marmota Limited · ASX:MEU
Marmota — Resources Rising Stars (February 2026)
35 slides from Marmota's conference presentation, February 2026
Slide 1: Resources Rising Stars
Gawler Gold Gawler Craton Resources Rising Stars February 2026 Unearthing South Australia’s Hidden Treasures ASX: MEU
Slide 2: Corporate Snapshot
Corporate Snapshot Capital Structure Share Price (last 12 months) Shares on Issue 1,180 m Options 0 Unlisted Options 7m Market Cap (at $0.15 / share) ~ $ 177 m Cash (at 31 Dec 2025) $3m Debt $0 Top Shareholders Top 20 ~ 40% Top 50 ~ 51% Top 100 ~ 63% > Exploration success Board & Dr Colin Rose Nevil
Slide 3: Three Outstanding Projects
Three Outstanding Projects GOLD Gawler Gold Share Price (3 years to August 2025) An arc of gold deposits featuring bonanza gold grades, all close to surface. TITANIUM Muckanippie Exceptional thick rich titanium mineralisation, making Marmota a multi-commodity play. URANIUM Junction Dam Existing JORC
Slide 4: Gawler Gold
Gawler Gold Gawler Craton Gawler Gold o Aurora Tank Bonanza grades o Greenewood / Mainwood Bonanza grades (MEU maiden program) o Campfire Bore Bonanza grades (MEU maiden program) o Golf Bore o Typhoon / Monsoon
Slide 5: An Arc of Gold Deposits featuring bonanza grades
An Arc of Gold Deposits featuring bonanza grades ASX:MEU 5
Slide 6: Zoom View
Zoom View ____ CAMPFIRE ane | “) GOLF BORE fee > eo a Sn . ~ 5998 ' * . o See 1 ws 1 ~ Al { RORA TANK pi : \ 9 100% MEU 8 2%, ¢ ey 5 en Roads «© mMaARMOTA xe Gold Deposits N Marmota (Half Moon): 90% Title and Minerals* i A Golden Moon JV Coombedown: 10% Title and Minerals Le? i. 7 § Projection: GDA9
Slide 7: Gawler Gold
GAWLER GOLD o SCALE and SCOPE: Arc of adjacent gold deposits o MEU maiden program at Greenewood [ ASX:MEU 11 Dec 2025 ] – some of the best gold results in the Gawler Craton since the discovery of Challenger in 1995 – bonanza gold grades, thick intervals, close to surface o Low-cost low-capex heap le
Slide 8: Gawler Gold Greenewood
Gawler Gold Greenewood • MEU maiden drilling program • Assays prove Greenewood is a spectacular gold discovery with bonanza grades over almost 1km [ see ASX:MEU 11 Dec 2025 ] 8
Slide 9: Greenewood Maiden Program Highlights
Greenewood Maiden Program Highlights see ASX:MEU 11 Dec 2025 9 ASX:MEU 9
Slide 10: Greenewood
Greenewood Plan Overview Projection to surface ASX:MEU 11 Dec 2025 ASX:MEU 10
Slide 11: Greenewood Sectional Views
Greenewood Sectional Views see ASX:MEU 11 Dec 2025 Cross-section 58b Cross-section 71 Mineralisation at Greenewood features bonanza grade intersections, close to surface and at both ends of the deposit (cross-section 58b and 71). The results show the continuity of the high grades across the deposit.
Slide 12: Greenewood Stage 2 Drilling
Greenewood Stage 2 Drilling Nov/Dec 2025 ASX:MEU 17 Dec 2025 Maiden Program Stage 2 129 RC holes (red) 10,117m Results this month ASX:MEU 12
Slide 13: Greenewood Growing fast
Greenewood Growing fast To give some idea how quickly Greenewood is progressing: At Aurora Tank: Time taken for the first 25,000m of MEU drilling was: 3 years At Greenewood: Time taken for the first 25,000m of MEU drilling is: 6 months Things are faster for a multitude of reasons, including the grow
Slide 14: Gawler Gold Aurora Tank
Gawler Gold Aurora Tank o outstanding intersections o bonanza grades in multiple zones o predominantly close to surface o excellent metallurgy [ ASX:MEU 28 April 2025 ] 14
Slide 15: Aurora Tank Plan View
Aurora Plan View Tank Plan view Location and grade of best intersections over 1m (circled) (actual depth from surface) Source: ASX:MEU 20 Jan 2025 15
Slide 16: Schematic Long-section through NW flank
Schematic Long-section through NW flank 16
Slide 17: Aurora Tank Summary Highlights
Aurora Tank Summary Highlights see ASX:MEU 20 Jan 2025 17
Slide 18: Aurora Tank Metallurgy: Outstanding Recoveries
Aurora Tank Metallurgy: Outstanding Recoveries see ASX:MEU 28 April 2025 In April 2025, metallurgical testing yielded outstanding recoveries simulating a low-cost low-capex heap leach gold operation. 100 90 80 70 % Gold Extraction 60 50 MC-1 - MW 12.5mm 40 MC-1 - MW 8.0mm 30 MC-2 - PW 12.5mm 20 MC-2
Slide 19: Water source at Aurora Tank
Water source at Aurora Tank 19
Slide 20: Camp
CAMP • multiple sleeping quarters • separate kitchen • separate management office • septic tank / waste management system • 10,000L self-bunded fuel tank • 90,000L capacity: water storage tanks • potable water treatment system 20
Slide 21: GAWLER GOLD Scoping Study
GAWLER GOLD Scoping Study o Paul Richardson appointed Gawler Gold – Project Manager [ ASX:MEU 17 Sept 2025 ] o Previous roles include: – General Manager for Mount Gibson Gold, – General Manager for Pacmin Mining (Carosue Dam gold mine) and – Manager (Operations) for St Barbara Mines. o Specialises i
Slide 22: Titanium
Titanium “ The high HM (Heavy Mineral) grade and broad intercept widths place the Marmota Muckanippie titanium mineral sands project amongst the most significant new discoveries globally. ” Richard Stockwell, specialist detrital minerals geologist [ see ASX:MEU 2 Sept 2025 ] 22
Slide 23: Exceptional Titanium discovery
Exceptional Titanium discovery o Spectacular bonanza Heavy Mineral (HM) o Intersections starting close to surface o Over thick wide intervals Highlights include: See ASX:MEU 29 May 2025 for full detail ASX:MEU 23
Slide 24: Muckanippie titanium cross-section
During the year, Marmota discovered spectacular world-class Heavy Mineral concentrations at MEU’s Muckanippie titanium discovery [ ASX:MEU 29 May 2025 ] Cross-section (1.8km long) from point ‘A’: Hole 69 (NE) to point ‘B’: Hole 42 (SW) 24 featuring spectacular Heavy Mineral concentrations in every h
Slide 25: Detail view: ultra-high grade area on EL 6166 (Muckanippie)
DETAIL VIEW: Ultra-high grade area on MEU Titanium Discovery on EL 6166 (Muckanippie) with interpreted palaeochannel Source: ASX:MEU 29 May 2025 25
Slide 26: Industry Norms
Industry Norms Australian Mineral Sand Project and Heavy Mineral HM% For source references, see ASX:MEU 14 Jan 2025 ASX:MEU ASX:MEU 26
Slide 27: Uranium
__\ Uranium
Slide 28: Junction Dam Uranium Project (100%)
Junction Dam Uranium Project (100%) The Junction Dam uranium tenement (100% MEU) bookends both sides of the palaeochannel of the Boss Energy Ltd (ASX:BOE) Honeymoon uranium plant ASX:MEU 28
Slide 29: Saffron (100%)
Saffron (100%) • Resource: 5.4Mlbs @ 557 ppm U3O8* (inferred) • Exploration: stopped due to market downturn (Fukushima) • Prospectivity: high + new untested zones • Targets: multiple Tier 1 targets + large untested area • Drilling: 164 holes planned The Junction Dam uranium tenement (100% MEU) booke
Slide 30: Bridget (100%)
Bridget (100%) • Drilling: 114 holes planned • Mineralisation: Beverley-style • Prospectivity: High with potential to host large uranium resource • Palaeochannels: Eyre & Namba Formations (2 distinct uranium systems, from 2 different geological ages, both coincident at Bridget) • Roll-front target:
Slide 31: Jasons
Jasons • Jasons: Boss’ highest-grade uranium resource • Proximity: adjacent to Marmota’s tenement boundary (see next slide) • Palaeochannel: appears to continue into Marmota’s ground (see next slide) • Drilling: untested • Potential: for a high grade discovery JASONS ASX:MEU 31
Slide 32: Jasons anomaly extends to MEU's ground
Jasons anomaly extends to MEU’s ground ASX:MEU 32
Slide 33: Key Takeaway
Key Takeaway ✓ Junction Dam is one of the most exciting uranium deposits in SA, in the premier uranium jurisdiction of Australia ✓ Dramatic change in perception of the potential of Junction Dam ✓ Boss is back in production. Marmota is perfectly located. ASX:MEU 33
Slide 34: Prior Marmota ASX releases referenced
This AGM Presentation includes information based on prior Marmota ASX:MEU releases which may be referred to for more detail, including: 17 Dec 2025 11 Dec 2025 9 Oct 2025 29 May 2025 28 April 2025 20 Jan 2025 26 Nov 2024 13 Nov 2024 9 Oct 2024 30 Sept 2024 30 April 2024 9 April 2024 20 Nov2023 26 Oc
Slide 35: Disclaimer
Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though MEU has no reason to believe that i