Jameson Resources Limited · ASX:JAL
Jameson Resources — Investor Presentation (September 2026)
32 slides from Jameson Resources's investor presentation, Sep 2, 2026
Slide 1: Crown Mountain Project – Capital Raise Presentation
For personal use only Crown Mountain Project A new source of high-quality steelmaking coal Capital Raise to progress Crown Mountain Approvals Not for release to US wire services or distribution in the United States Capital Raise Presentation SEPTEMBER 2026
Slide 2: $5m Equity raising to progress Crown Mountain Approvals
$5m Equity raising to progress Crown Mountain Approvals Crown Mountain – one of the world’s most advanced greenfield steelmaking coal projects • Capital Raising to raise up to A$5m (the Offer) via a 1-for-5.5 Accelerated Non-Renounceable For personal use only Entitlement Offer (ANREO) at A$0.035 per
Slide 3: Equity Raising Overview
Equity Raising Overview Institutional • The Institutional Entitlement Offer is offered to eligible institutional shareholders and other investors with a registered address in Australia, New Zealand, Luxembourg, Cayman Islands, Singapore, Canada, Hong Kong, and the United Kingdom , which is Entitleme
Slide 4: Indicative Timetable
Indicative Timetable Event1 Date2 Trading halt 2 September 2026 Announcement of Entitlement Offer 2 September 2026 For personal use only Institutional Entitlement Offer and Institutional Shortfall Bookbuild opens 2 September 2026 Institutional Entitlement Offer and Institutional Shortfall Bookbuild
Slide 5: Corporate Overview
Corporate Overview Share Capital Board and Management Team ASX Ticker JAL For personal use only Share Price (03/08/26) A$0.045 Shares Outstanding 793M Market Capitalisation A$36M Cash on Hand (30/6/26) $0.65M Major Shareholders Michael Gray Steve van Barneveld Mike McDonald Interim Chairman & CEO/MD
Slide 6: Investment Proposition
Investment Proposition Crown Mountain – one of the world’s most advanced greenfield steelmaking coal projects For personal use only New steelmaking coal • Long-term demand rising as Indian blast furnace production is set to double to 300Mt projects needed to meet • Reserves depleting and production
Slide 7: Crown Mountain – Right Location
Crown Mountain – Right Location Greenfield Project – Brownfield Location EVR – • Elk Valley – 60+ years of premium low volatile For personal use only Fording River Mine hard coking coal production, established with leading steelmakers EVR – Green Hills Mine • EVR ownership – Glencore 77%, Nippon Ste
Slide 8: Crown Mountain – Approvals Progress
Crown Mountain – Approvals Progress Section 27 Notice issued – a clear path to the Environmental Certificate For personal use only • The BC Environmental Assessment Office (EAO) has issued the Section 27 Notice, confirming completion of the Environmental Application Review • The EAO has requested Jam
Slide 9: Indigenous Engagement
Indigenous Engagement A landmark partnership with the Yaq̑it ʔa·knuqⱧi‘it First Nation For personal use only • Jameson is committed to the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) • Crown Mountain sits within ʔakanuxunik̑ ʔamakʔis, the unceded ancestral lands of the Ya
Slide 10: Pathway to Production
Pathway to Production A clear, statutory approvals process in British Columbia For personal use only Final application submission, Application review incorporating design Funding, offtake determined changes developed with partnerships complete by BC EAO Indigenous Nations and FID Early 2026 Q4 2026
Slide 11: The Cost Equation – Canada vs Queensland
The Cost Equation – Canada vs Queensland Cost advantages over Australian hard coking coal producers British Columbia – Crown Mountain Queensland – Bowen Basin For personal use only ROYALTY REGIME Profit-based BC mineral tax (PRRT-style) with ROYALTY REGIME upfront capital deductibility – minimal tax
Slide 12: Crown Mountain – Right Cost Structure
Crown Mountain – Right Cost Structure Key competitive advantages compared to Australian and other global producers Low strip ratio – life-of-mine product ratio 9.5 to 1 For personal use only Lower labour costs – Elk Valley labour approx. 20% cheaper than comparable Bowen Basin Lower taxes – BC
Slide 13: Partnership and Nation Building
Partnership and Nation Building First Nations engagement and Canadian economic independence First Nations Partnership Canadian Economic Contribution For personal use only INDIGENOUS-LED RECLAMATION Reclamation planning workshops underway with the EXPORT-ONLY INDUSTRY Yaq̑it ʔa·knuqⱧi‘it First Nation
Slide 14: Steelmaking Coal - Supply Vs Demand
Steelmaking Coal - Supply Vs Demand Supply and Demand: Global seaborne steelmaking coal For personal use only • Over the past 10 years, major producers have divested assets and/or deferred development of new projects • In Queensland, steelmaking coal exports have fallen from 210Mtpa in 2016 to 165Mt
Slide 15: Steelmaking Coal M&A Drives Growth
Steelmaking Coal M&A Drives Growth M&A has reached US$28.5 billion – greenfield development remains at zero For personal use only For Glencore, Whitehaven, Yancoal, US$28.5bn steelmakers and Indonesian investors, the only option for increased production has been US$21.9bn US$21.9bn acquisition of ex
Slide 16: Limited Advanced Greenfield Steelmaking Coal Projects
Limited Advanced Greenfield Steelmaking Coal Projects Crown Mountain leads the next generation of steelmaking coal projects • Olive Downs (development commenced April 2022) remains the last greenfield development project For personal use only • Projects delayed significantly by uncertainty over regu
Slide 17: The India Opportunity
The India Opportunity Premium hard coking coal demand from the world’s fastest-growing steel market For personal use only India lacks quality domestic steelmaking coal – premium No domestic supply hard coking coal must be imported 2x Premium supply New premium low-volume supply is increasingly scarc
Slide 18: Crown Mountain Project Overview Appendix
For personal use only Crown Mountain Project Overview Appendix INVESTOR PRESENTATION JULY 2026
Slide 19: World-class Opencut Reserves
World-class Opencut Reserves Multiple coal seams across the North, East and South Blocks For personal use only Section A-A Section B-B Section C-C Section D-D Opportunity for extension of South Pit subject to further in-fill exploration 19 CAPITAL RAISE PRESENTATION | SEP 2026
Slide 20: World-class Opencut Resources and Reserves
World-class Opencut Resources and Reserves Coal Resources of 90.2Mt and a 57.5Mt Run of Mine Reserve Measured, For personal use only Measured & RESOURCES (Mt) Measured Indicated Indicated Inferred Indicated & Inferred • Coal Resources of 90.2Mt are well understood and defined North Block 10.1 3.0 13.
Slide 21: Mining and Production
Mining and Production Low strip ratio and higher production from the North Pit in the initial years Waste ROM Coal Strip Ratio Product Strip Ratio Pit For personal use only MBcm Mt Bcm/t ROM Coal Mt Bcm/t Saleable North & East 73.6 18.0 4.1 10.3 7.2 South 196.5 39.5 5.0 18.2 10.8 Total 270.1 57.5 4.
Slide 22: 2025 Feasibility Update – Economic Outcome
2025 Feasibility Update – Economic Outcome Study highlights global advantages of Crown Mountain as future development For personal use only • 100% increase in NPV10 from 2021 Yield Optimisation Study to 2025 Feasibility Update Refer JAL ASX Announcement – Feasibility Update, 9 May 2025 22 CAPITAL RA
Slide 23: Project Feasibility Update
Project Feasibility Update Independent review confirms substantially improved economics For personal use only Time Study Capex Production Cost Post-tax NPV10 March 2015 Pre-Feasibility Study US$281M US$85.28/tonne $267M July 2020 Bankable Feasibility Study US$309M US$93.17/tonne $217M August 2021 Yi
Slide 24: Feasibility Update – Capital and Operating Costs
Feasibility Update – Capital and Operating Costs CapEx of US$394M and operating cost of US$102.79/tonne FOB Vancouver BFS July 2020 Feasibility Update 2025 Change Source For personal use only Mobile Mining Equipment US$92M US$111M 20% Komatsu/SMS Wash Plant and Coal Handling US$102M US$131M 28% Sedg
Slide 25: Key Risks
Key Risks This section identifies the areas that the directors regard as the major risks associated with an investment in the Company. Investors should be aware that an investment in the Company involves many risks, which may be higher than the risks associated with an investment in other companies.
Slide 26: Key Risks (continued)
Key Risks (continued) • Development risk – Possible future development of Crown Mountain is dependent on a number of factors including, but not limited to, receiving the necessary approvals from all relevant authorities and parties, seasonal weather patterns, unanticipated technical and operational
Slide 27: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Australia except to th
Slide 28: International Offer Restrictions
International Offer Restrictions Luxembourg This document has not been, and will not be, registered with or approved by any securities regulator in Luxembourg or elsewhere in the European Union. Accordingly, this document may not be made available, nor may the New Shares be offered for sale, in Luxe
Slide 29: International Offer Restrictions
International Offer Restrictions Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in co
Slide 30: Important Notices and Disclaimer
Important Notices and Disclaimer This presentation has been prepared by the Company based on information from its own and third-party sources and is not a disclosure document. The information in this Presentation is provided in summary form only and does not purport to be complete. It should be read
Slide 31: Important Notices and Disclaimer (Cont'd)
Important Notices and Disclaimer (Cont’d) PAST PERFORMANCE Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. No representation or warranty is made by the Company that any
Slide 32: For further information, please contact
For personal use only For further information, please contact: Michael Gray Interim Chairman & CEO/MD P +61 8 9200 4473 M +61 417 736 461 E admin@jamesonresources.com.au www.jamesonresources.com.au
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