Estrella Resources Limited · ASX:ESR
Estrella Resources — Investor Presentation (December 2025)
21 slides from Estrella Resources's investor presentation, Dec 3, 2025
Slide 1: Timor-Leste Opportunity
For personal use only TIMOR-LESTE OPPORTUNITY RESOURCING TOMORROW PRESENTATION December 2025
Slide 2: Disclaimer & Declaration
Disclaimer & Declaration This presentation has been prepared by Estrella Resources Limited (“ESR”) as a summary of the company’s exploration and development activities. No Offer of Securities The presentation is not, and should not, be considered as an offer or invitation to subscribe for, or purcha
Slide 3: Estrella Resources Highlights: Drilling an untested, highly-prospective region
Estrella Resources Highlights: Drilling an untested, highly-prospective region For personal use only • Large campaign encounters: 8.05m @ 53% Mn High-grade • Further broad intersections, including: 12.87m of manganese drilling 80% manganese oxides from 5.13m, assays pending Limestone • Targeting lar
Slide 4: Mining in Timor-Leste: First-mover advantage
Mining in Timor-Leste: First-mover advantage Timor-Leste Estrella was Estrella is one of Estrella has since Applications For personal use only In 2023, Timor- government is awarded three of four entities (and grown its footprint followed ~15-yr Leste undertook highly incentivised four Exploration on
Slide 5: Timor-Leste: An exceptional opportunity
Timor-Leste: An exceptional opportunity For personal use only ▪ A series of high-quality unexplored targets across a large license holding ▪ Located ~90min flight from Darwin ▪ High-quality infrastructure in place ▪ Only 6 months from discovery (Nov ’24) to drilling (May ’25) 5
Slide 6: Estrella Mineral Concessions
Estrella Mineral Concessions Exploring a highly prospective region For personal use only ▪ Timor-Leste is located in a complex geological setting where three major tectonic plates converge and uplift fertile ground ▪ The region possesses multi-commodity potential but has never been extensively explo
Slide 7: Manganese Exploration
For personal use only Manganese Exploration Secondary manganese in core from EMDD033 Refer to ASX announcement dated: 22 September 2025 7
Slide 8: Drilling Results: Ira Miri Manganese Project
Drilling Results: Ira Miri Manganese Project ▪ First ever modern minerals drilling in Timor-Leste at the Ira Miri For personal use only project ▪ Highly successful maiden assays: ▪ EMDD001 intersected 6.45m @ 51.7% Mn ▪ EMDD002 intersected 8.05m @ 53.0% Mn ▪ EMDD003 intersected 1.5m @ 35.8% Mn ▪ Alm
Slide 9: RES-IP Surveys: Deliver high confidence targets
RES-IP Surveys: Deliver high confidence targets ▪ Advanced resistivity and Induced Polarisation surveying at Ira Miri generates multiple anomalies at shallow depths ▪ IP anomalies correlate with manganese drill holes, known outcrops and expected supergene enrichment patterns For personal use only ▪
Slide 10: Detailed Exploration: Supports drill targeting
▪ Large-scale exploration campaign enables Detailed Exploration: potential definition of an entirely new manganese province Supports drill targeting ▪ Campaign consists of initial 3,000m diamond and 10,000m RC drilling. For personal use only ▪ A secondary round to consist of a further 10,000m RC dri
Slide 11: Additional Targets: Exceptional Outcropping Discoveries
Additional Targets: Exceptional Outcropping Discoveries Lalena Sica Prospect For personal use only • A series of manganese exposures • Layer of at surface concentrated • Bands range between manganese 2 to 10cm in width supergene • Top assay of 1: • 60.76% Mn • Top assays of 2: • 58.18% Mn • 57.02% M
Slide 12: Limestone Opportunity
For personal use only Limestone Opportunity 12
Slide 13: Werumata Project: Clean Limestone Potential
Werumata Project: Clean Limestone Potential ▪ A large area within the Timor-Leste concessions has been interpreted to host a sheet of limestone mineralisation Mineralisation several hundred metres thick in places (source: Institute of Geology, For personal use only ▪ Timor-Leste and Estrella’s strat
Slide 14: DSO Potential: Drilling to define scale
DSO Potential: Drilling to define scale ▪ Estrella’s limestone possesses strong neutralisation potential, making the ore potentially amenable for many industrial and environmental applications For personal use only ▪ Limestone is particularly sought after by Indonesian Industry to reduce environment
Slide 15: Drilling Underway: to define scale
Drilling Underway: to define scale For personal use only ▪ Drilling has commenced with both diamond and RC drill rigs mobilised to site ▪ Exploration to initially target two large limestone plateaus ▪ Drilling to consist of initial 6 diamond and 26 RC drill holes ▪ A follow up program will commence
Slide 16: Transformative Calcite Agreement
Transformative Calcite Agreement: Paves way for large-scale calcite sales into SE Asia For personal use only ▪ Agreement with Indonesian company PT Raka Energi Mandiri (REM) to assist in marketing and selling calcite from Timor-Leste mining concessions ▪ Estrella and REM plan to enter into an Offtak
Slide 17: Estrella Mineral Concessions: Infrastructure & proximity to market
Estrella Mineral Concessions Infrastructure & proximity to market ▪ Access via 170km of sealed roads from the capital of Dili. For personal use only ▪ Vegetation varies between open grasslands and tropical ▪ Close proximity by sealed roads to deepwater port at Com savannah woods. ▪ Timor-Leste on th
Slide 18: Joint-Venture with State-Run Mining Company
Joint-Venture with State-Run Mining Company For personal use only ▪ ESR has finalised a Joint-Venture with state-run Murak Rai Timor (MRT) ▪ The JV named Estrella Murak Rai Timor (70% owned by ESR, 30% owned by MRT) to explore for mineral deposits in granted Exploration & Evaluation Licenses (EEL’s)
Slide 19: Capital Structure
For personal use only Cash ASX Ticker Share Price Market Cap Enterprise Value ESR Capital Structure ~A$66M ~$61.6M A$0.031 (as at 1 December 25) ~ A$4.4M (as at 30th September 25) 0 0.01 0.02 0.03 0.04 0.05 0.06 22/05/2025 31/05/2025 9/06/2025 18/06/2025 27/06/2025 6/07/2025 15/07/2025 24/07/2025 2/
Slide 20: Estrella Resources Highlights: Drilling an untested, highly-prospective region
Estrella Resources Highlights: Drilling an untested, highly-prospective region For personal use only • Large campaign encounters: 8.05m @ 53% Mn High-grade • Further broad intersections, including: 12.87m of manganese drilling 80% manganese oxides from 5.13m, assays pending Limestone • Targeting lar
Slide 21: Contact: Chris Daws
For personal use only Contact: Chris Daws Managing Director M: +61 8 9481 0389 E: info@estrellaresources.com.au 21
Estrella Resources — Investor Presentation (December 2025) on 6ix