Slide 1: Definitive Feasibility Study
ASX: RXL Definitive Feasibility Study Robust. Grade. Margin. Upside. Definitive Feasibility Study | 13 November 2025
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer ASX: RXL Important - you must read the following before continuing The following notices and disclaimers apply to this presentation and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer ASX: RXL Important - you must read the following before continuing No Liability To the maximum extent permitted by law, Rox and its related bodies corporate and affiliates, and the respective officers, directors, partners, employees, agents and advisers of Rox an
Slide 4: Important Information and Disclaimer
Important Information and Disclaimer ASX: RXL Important - you must read the following before continuing Competent Person Statements Metallurgical Results The information in this presentation that relates to metallurgical results is based on information compiled and reviewed by Mr Michael Davis a Com
Slide 5: Flagship - Youanmi Gold Project
Flagship - Youanmi Gold Project ASX: RXL • Located in the central Youanmi Greenstone Belt, within the Southern Cross Province of the Archaean Yilgarn Craton • Situated in Western Australia – globally recognised as Australia’s premier gold province • Planned + 7 year mine life averaging ~117koz per a
Slide 6: DFS Highlights – Youanmi Gold Project
DFS Highlights – Youanmi Gold Project ASX: RXL Low Cost & High Margin High-Grade Reserve and Resource • Low AISC of A$1,978/oz resulting in a high margin • Probable Ore Reserve Estimate of 4.4 Mt @ 4.8 g/t Au for 674 koz • Free cash flow of approx. A$2.3 billion pre-tax at gold price of A$5,200/oz •
Slide 7: Key Study Outcomes at A$5,200/oz Au
Key Study Outcomes at A$5,200/oz Au ASX: RXL Key Physicals Targets Capital Costs Key Financial Forecasts and Assumptions and Assumptions Life Of Mine1 years 6.8 Pre-production Capital A$m 383 Gold Price A$/oz 5,200 Plant Throughput ktpa 900 Sustaining Capital A$m 172 Discount Rate % 8 Mine Productio
Slide 8: Low All-In Sustaining Cost and Capital
Low All-In Sustaining Cost and Capital ASX: RXL LOM C1 Cash Cost and AISC Breakdown1 Pre-Production Capital Costs A$m Processing Facilities 217 (A$/oz) $2,000 $209 $1,975 Site Infrastructure 17 $1,800 $176 Underground Mining 28 $93 $1,590 $1,600 $593 Tailings Storage Facility 12 $1,400 Water Managem
Slide 9: Outstanding Project EBITDA
Outstanding Project EBITDA ASX: RXL (A$M) Cumulative EBITDA and Gold Production Target (koz) $3,000 1,000 $2,707 $2,594 900 $2,500 800 $2,070 700 $2,000 600 $1,511 $1,500 500 $1,105 400 $1,000 300 $696 200 $500 $313 100 $0 - FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 Cumulative EBITDA C
Slide 10: Sensitivity Analysis
Sensitivity Analysis ASX: RXL Project NPV (leveraged and post-tax) Sensitivity Analysis Scenario Analysis – Various Gold Price Assumptions Base Spot Case Case Gold Price Unit A$4,700 A$5,200 A$5,700 A$6,100 A$6,700 (A$/oz) NPV8 (pre-tax) A$m 1,161 1,433 1,705 1,923 2,249 IRR (pre-tax) % 59 69 78 86
Slide 11: High-Grade Ore Reserve
High-Grade Ore Reserve ASX: RXL Existing Decline to ~600m below surface Ore Reserve Tonnes (Mt) Grade (g/t Au) Contained Ounces (koz) Proved Underground Ore Reserve - - - Probable Underground Ore Reserve 4.4 4.8 674 Total Underground Ore Reserve 4.4 4.8 674 Definitive Feasibility Study | 13 November
Slide 12: Mine Plan Growth Opportunities
Mine Plan Growth Opportunities ASX: RXL • Opportunities to unlock more potential in the Mine Plan with further planned drilling along strike and down dip • Top 300m of the Resource has greater than 4,000 ounces per vertical metre • Significant opportunity to increase mining production rate and exten
Slide 13: Mining Profile
Mining Profile ASX: RXL Ore Tonnes (t) Mined Tonnes and Grade Grade (g/t Au) 1,000,000 10.0 900,000 9.0 800,000 8.0 700,000 7.0 600,000 6.0 500,000 5.0 400,000 4.0 300,000 3.0 200,000 2.0 100,000 1.0 - - FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 Production Tonnes Develo
Slide 14: Production Target
Production Target ASX: RXL Ounces (oz) Ounces Mined and AISC A$/ounce 200,000 $3,000 180,000 $2,700 160,000 $2,400 140,000 $2,100 120,000 $1,800 Board 100,000and Management $1,500 80,000 $1,200 60,000 $900 40,000 $600 20,000 $300 - $0 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 O
Slide 15: Processing
Processing ASX: RXL Simple flowsheet to produce gold doré averaging 117koz per annum – recoveries estimated at 90.8%, with extra plant capacity Understood Metallurgy, Simple Flowsheet 92% of gold associated with sulphides, 60% of gold classified as free milling Sulphide combination of Pyrite and Ars
Slide 16: Early Works Well Advanced
Early Works Well Advanced ASX: RXL Significant steps forward on pathway to production • Significant infrastructure with high volume evaporation ponds and pits available – fully permitted and in use • Pumping completed in United North Pit • Pumping more than 50% complete in Main Pit • Byrnecut Austra
Slide 17: Exploration Potential >60km strike on Youanmi Shear Zone
Exploration Potential >60km strike on Youanmi Shear Zone ASX: RXL • Other than existing mine areas of Youanmi and Penny West, very little drilling undertaken • Rox recently undertook drilling near mine targets, along with more around Currans • Recent Aeromag survey data commenced processing and targ
Slide 18: Pathway to Production
Pathway to Production ASX: RXL CY25 CY26 CY27 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Key Project First Deliverables DFS Funding and FID Mill construction and commissioning Operating Milestones gold Resource extensional drilling Extensional drilling - From Surface and underground Growth Exploration drilling Expl
Slide 19: Team. Vision. Mission.
Team. Vision. Mission. ASX: RXL Board of Directors Stephen Dennis Phillip Wilding Non-Executive Chair Managing Director & CEO Experienced team with proven record in Nathan Stoitis David Boyd developing Australian Non-Executive Director Non-Executive Director gold mines Management Vision to deliver s
Slide 20: Next Steps
Next Steps ASX: RXL Continue Early Works • Continue with phase 1 camp construction (60 rooms) • Advance United North exploration decline development • Complete dewatering of Youanmi Main Pit Continue with Regulatory Approvals • Continue necessary approvals documentation with the appropriate regulato
Slide 21: Investment Highlights
Investment Highlights ASX: RXL High-Grade • High-Grade Ore Reserve declared 674koz @ 4.8 g/t • Initial Mine Plan of 900koz @ 4.9 g/t Resource • Mineral Resource of 2.2Moz @ 5.6 g/t Resource • Mineral Resource open down dip and along strike Growth to • Drilling planned in early CY2026 from undergroun
Slide 22: Thank You
ASX: RXL Thank You Level 1, 87 Colin Street, www.roxresources.com.au West Perth, Western Australia 6005 + 61 (8) 9226 0044 admin@roxresources.com.au rox-resources
Slide 23: Corporate Information
Corporate Information ASX: RXL Capital structure (12 November 2025) Analyst Coverage Shares on Issue 754.9m Share Price A$0.455 Market Capitalisation A$343m Unlisted Options 7.5m Performance Rights 35.9m Cash and cash equivalents1 A$43.7m $0.60 12 $0.50 10 Hawke’s Point 17.8% Volume (Millions) $0.40
Slide 24: Experienced Team
Experienced Team ASX: RXL Geology and Geotechnical Hydrology and Mine Dewatering Mine Engineering Resource Estimation Hydrogeology Underground Underground Mining Metallurgical Metallurgical Mine Ventilation Infrastructure Costs Consulting Testwork Board and Management Process Tailings Storage Non-Pr
Slide 25: Plan View and United North Section
Plan View and United North Section ASX: RXL Definitive Feasibility Study | 13 November 2025 25
Slide 26: Sections Youanmi Main (Nth) and Prospect
Sections Youanmi Main (Nth) and Prospect ASX: RXL Definitive Feasibility Study | 13 November 2025 26