Slide 1: Developing the Highly Strategic Wuudagu Bauxite Project
DEVELOPING THE HIGHLY STRATEGIC WUUDAGU BAUXITE PROJECT NOOSA MINING CONFERENCE PRESENTATION JULY 2026
Slide 2: Important Notice
Important Notice Information Purposes Only This presentation has been prepared and issued by VBX Limited (“VBX” or the “Company”) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representat
Slide 3: Acknowledgement of Country
Acknowledgement of Country We acknowledge the traditional owners of the land and sea which make up the Wuudagu and Takapinga project areas, and recognise their continuing connection to land, water and culture. We value and appreciate the strong relationships we have developed at Wuudagu and intend t
Slide 4: Summary
Summary Advanced • 131.9Mt M&I Mineral Resource Project • Completion of expanded DFS this quarter Status • Clear pathway to project approvals in 2027 and first production in 2028 High Quality, • High grade, low silica beneficiated product of 45.4% Al2O3 and 3.6% SiO2 High Margin • PFS (2025) demonst
Slide 5: Corporate Overview
Corporate Overview Tight capital structure, 53.4% board and management ownership, significantly undervalued • Established in 2013, ASX listed since June 2025 BOARD AND MANAGEMENT GEORGE LLOYD CHRIS HANDLEY • Advanced Wuudagu Bauxite Project in Western CHAIR GM - EXPLORATION Australia RYAN DE FRANCK
Slide 6: Socially and Environmentally Responsible
Socially and Environmentally Responsible Traditional Owner engagement and participation is a core value of the company • Working with Wunambal Gaambera at Wuudagu since 2016 Kalumburu (2021 census) • Seeking to have a positive impact on the local community that lasts 388 well beyond our on-site pres
Slide 7: Wuudagu Bauxite Project
Sa @vBx ~ WUUDAGU BAUXITE PROJECT se
Slide 8: Simple, Efficient Operating Model
Simple, Efficient Operating Model HIGH GRADE, LOW SILICA BENEFICIATED PRODUCT TRANSHIPMENT TO CAPE SIZE VESSELS INDUSTRY LEADNG MINE TO CUSTOMER LOGISTICS CLEAR PATHWAY TO NEAR TERM PRODUCTION SHORT, 35KM ROAD HAULAGE SIMPLE, LOW COST BENEFICIATION STAGED MINING & REHABILITATION Conference Presentat
Slide 9: Attractive Wuudagu Product Grade
Attractive Wuudagu Product Grade Low silica content and high alumina to silica ratio desirable to end users 20 ATTRACTIVE TO CBIX1 Benchmark – 5% Guinean END USERS Bauxite Index1 Avg. Wuudagu PFS Product Grade 15 45.4% Al2O3 & 3.6% SiO2 Alumina to Silica Ratio Wuudagu CBIX1 Benchmark – 10x 10 Austra
Slide 10: Industry Leading Cost Curve Position
Industry Leading Cost Curve Position Product quality and efficient logistics provide structural cost advantage and margin protection • Close proximity to the coast Short road haulage • Near shore deep water Short jetty length and transhipping distance • Protected deep water bay Flexibility to load a
Slide 11: Strong PFS (2025) Results – Wuudagu C
Strong PFS (2025) Results – Wuudagu C Highlighted our near term, low capital intensity and high margin opportunity KEY PRELIMINARY FEASIBILITY STUDY (2025) METRICS PRE-TAX8 NPV PRE-TAX IRR PAYBACK PERIOD A$821 M 136 % 16 MONTHS PRODUCTION MINE LIFE CAPEX 3.5 MTPA 10 YRS A$125 M AVG. PRICE1 AISC AVG.
Slide 12: 108% increase in M&I Resource to 132Mt
108% increase in M&I Resource to 132Mt Wuudagu G, the second largest plateau area at 6.6km2, remains undrilled PLATEAU AREA SUMMARY PLATEAU AREA MAP Plateau km2 M&I MRE1 Mt Wuudagu B 2.9 21.0 Wuudagu C 10.7 74.8 Wuudagu D 1.8 16.7 Wuudagu E 0.7 6.7 Wuudagu F 1.9 12.7 Total 18.0 131.9 A Wuudagu G 6.6
Slide 13: Improved Beneficiation Recoveries
Improved Beneficiation Recoveries Successful DFS metallurgical optimisation test work delivers improved beneficiation results • Wuudagu bauxite is highly amenable to beneficiation +3.35MM MASS RECOVERY – PFS VS DFS TEST WORK through simple, industry standard methods 75 72.9 69.7 Mass Recovery (%) •
Slide 14: Offtake and Financing
Offtake and Financing Strong interest in securing Wuudagu bauxite product marketing and offtake rights • Versatile, low silica product with attractive +3.35MM WUUDAGU BAUXITE PRODUCT blending characteristics • Best suited to high temperature digestion, can be used as low temperature or sweetening ma
Slide 15: Native Title and Heritage Approvals
Native Title and Heritage Approvals Strong support from Wunambal Gaambera for the development of Wuudagu • Native Title, Heritage Protection and Mineral Exploration Agreement signed in 2016 • Mining Agreement Negotiation Protocol signed in 2019 - Established the process, timing and budget for finali
Slide 16: Environmental Approvals
Environmental Approvals Wuudagu is being assessed by the EPA and DCCEEW under a public review process as an accredited assessment EPA / EPA / DCCEEW Scoping Review Assessed DCCEEW Referral Document Document Approval Dec 2019 Feb 2020 Jun 2021 Q3 2026 H2 2027 • Baseline level 2 dry and wet season ter
Slide 17: Near Term Wuudagu Production
Near Term Wuudagu Production Clear pathway to project approvals in 2027 and first production in 2028 Offtake & Geology Metallurgy Engineering Approvals Financing 2016-26 2018-26 Q3 2026 H2 2026 H2 2027 • +1,100 holes and • +30 bulk samples • DFS planned to • Positive • Western Australia +9,000m of d
Slide 18: Summary
Summary Advanced • 131.9Mt M&I Mineral Resource Project • Completion of expanded DFS this quarter Status • Clear pathway to project approvals in 2027 and first production in 2028 High Quality, • High grade, low silica beneficiated product of 45.4% Al2O3 and 3.6% SiO2 High Margin • PFS (2025) demonst
Slide 19: Ryan de Franck, Managing Director
RYAN DE FRANCK MANAGING DIRECTOR RYAND@VBX.LIMITED
Slide 20: JORC (2012) Mineral Resource Estimate
JORC (2012) Mineral Resource Estimate MINERAL RESOURCE ESTIMATE FOR THE WUUDAGU BAUXITE PROJECT Category Plateau Tonnes M Al2O3 % SiO2 % Fe2O3 % LOI % Measured B 14.1 39.5 13.0 22.8 19.9 C 27.8 39.9 12.5 23.3 19.8 Sub-Total 41.9 39.8 12.7 23.1 19.8 Indicated B 6.9 39.2 13.7 22.7 19.6 C 39.4 39.4 14.