West African Resources Ltd · ASX:WAF

West African Resources — Diggers and Dealers 2026

25 slides from West African Resources's conference presentation, Aug 4, 2026

  1. Slide 1: West Africa's Growing Mid Tier Producer

    For personal use only WEST AFRICA’S GROWING MID TIER PRODUCER TARGETING +500,000 oz pa GOLD PRODUCTION FROM 2027 DIGGERS AND DEALERS - 4 AUGUST 2026

  2. Slide 2: Important Notice and Disclaimer

    IMPORTANT NOTICE DISCLAIMER . The following notice and disclaimer apply to this presentation (Presentation) and you are advised to read this carefully before reading FINANCIAL DATA or making any other use of this Presentation or any information contained in this Presentation. All dollar values in th

  3. Slide 3: Important Notice: Forward Looking Statements continued

    IMPORTANT NOTICE FORWARD LOOKING STATEMENTS continued Rounding is applied for all Mineral Resources and Ore Reserves figures in this Presentation. In the case of WAF, these facts include, in particular operating cashflows, net profit after tax (NPAT) and future production estimates EXPLORATION RESUL

  4. Slide 4: West Africa's Growing Mid-Tier Gold Producer

    WEST AFRICA’S GROWING MID-TIER GOLD PRODUCER 100% UNHEDGED MINERAL RESOURCES AND ORE RESERVES For personal use only 2026 Mineral Ore 10 Year Exploration Market Guidance Resources Reserves Production Target Permits Capitalisation 430 - 490 koz 13.7 Moz 7 Moz 5.3 Moz +1,100 km² A$3,363m* 100% Unhedged

  5. Slide 5: Board and Management

    WEST AFRICAN RESOURCES LTD BOARD AND MANAGEMENT For personal use only Richard Hyde Lyndon Hopkins Rod Leonard Libby Mounsey Stewart Findlay Robin Romero Jayde Webb Founder, CEO and Executive Director and Independent Executive Director of Non-Executive Director Non-Executive Director Non-Executive Di

  6. Slide 6: WAF Project Locations

    WAF PROJECT LOCATIONS For personal use only 6

  7. Slide 7: Setting the Pace for Mid-Tier Producers

    WEST AFRICAN RESOURCES LTD SET T I N G T H E PA C E F O R M I D - T IER PR O D U C ER S For personal use only  Group production guidance: 430,000 - 490,000oz gold  Group AISC guidance: under US$1,900/oz gold  YTD Production 232,905oz at AISC US$1,823/oz gold  Drilling >100,000m across Sanbrado a

  8. Slide 8: Group 10-Year Production Target

    WEST AFRICAN RESOURCES LTD G R O U P 1 0 - Y E A R P R O D U C T I O N TA R G E T  Mineral Resources increased to 13.7 Moz gold  Ore Reserves increased to 7 Moz gold 700,000  Production target: For personal use only 600,000 ‒ 533,000 oz pa average 2026 – 2035 ‒ 596,000 oz pa peak in 2030 500,000

  9. Slide 9: Kiaka Gold Production Centre

    WEST AFRICAN RESOURCES LTD KIAKA GOLD PRODUCTION CENTRE For personal use only 9

  10. Slide 10: Kiaka Gold Production Centre Key Project Metrics

    KIAKA GOLD PRODUCTION CENTRE KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 85%; Burkina Faso government 15%* For personal use only Type Open-pit low strip ratio 1.4 : 1 LOM Resources 391 Mt at 0.7 g/t for 9.2 Moz gold (US$3000) Reserves 177 Mt at 0.8 g/t for 4.7

  11. Slide 11: Near Mine Growth: Kiaka Expansion Potential

    NEAR MINE GROWTH K I A K A E X PA N S I O N P O T E N T I A L For personal use only Refer to ASX announcement titled “WAF 10-year gold production to average 533,000 oz per annum” released 31 March 2026. 11

  12. Slide 12: Sanbrado Gold Production Centre

    WEST AFRICAN RESOURCES LTD SANBRADO GOLD PRODUCTION CENTRE For personal use only 12

  13. Slide 13: Sanbrado Gold Operations Key Project Metrics

    SANBRADO GOLD OPERATIONS KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 85%; Burkina Faso government 15% Type Open-pit and underground mining For personal use only Resources 67 Mt at 2.0 g/t for 4.4 Moz gold (US$3,000) Reserves 37 Mt at 1.9 g/t for 2.3 Moz gold (U

  14. Slide 14: Near Mine Growth: Sanbrado Expansion Potential

    NEAR MINE GROWTH S A N B R A D O E X PA N S I O N P O T E N T I A L  Over +60,000m of surface and underground drilling in progress with potential to deliver significant resource and reserve growth For personal use only  Mineralisation at M1 South and M5 remains open at depth supporting potential t

  15. Slide 15: Near Mine Growth: M5 Recent Results

    NEAR MINE GROWTH M 5 R E C E N T R E S U LT S For personal use only  Thick zones of high-grade mineralisation confirmed beneath the current Ore Reserves at M5 South underground.  Infill drilling for the updated M5 open pit Ore Reserve complete, now targeting resource and reserve growth potential.

  16. Slide 16: Our People: Building a Strong Local Workforce

    OUR PEOPLE BUILDING A STRONG LOCAL WORKFORCE Équipe WAF  3,653 total workforce across all Burkina Faso operations For personal use only  2,491 WAF group employees, >95% Burkinabe  54 internships supporting future talent Scholarship Scheme 2026  First cohort of SOMISA scholarship recipients gradu

  17. Slide 17: Protecting Our Workforce: Health, Safety and Security

    PROTECTING OUR WORKFORCE H E A LT H , S A F E T Y A N D S E C U R I T Y Comprehensive Occupational Health and Safety Management System (OHSMS) based on ISO 45001 standards For personal use only OHSMS key aspects  WAF TRIFR: 1.26 vs Western Australian Gold Industry IFR: 5.7*  Vigorous critical risk

  18. Slide 18: Investing in Our Common Future

    INVESTING IN OUR COMMON FUTURE D R I V I N G S U S TA I N A B L E G R O W T H A N D S U P P O R T I N G S H A R E D VA L U E Contributions since mining operations began in 2020 US$771 million contributed directly to Burkina Faso in taxes and royalties For personal use only US$16 million invested i

  19. Slide 19: ESG: Building Lasting Value

    ESG B U I L D I N G L A S T I N G VA L U E Education & Training For personal use only  Building and refurbishing schools, with solar power and learning resources  IT access in high schools and vocational training for local youth  Scholarship Programs expanded to support more students in 2026 Live

  20. Slide 20: ESG: Building Lasting Value

    ESG B U I L D I N G L A S T I N G VA L U E Improving health status of the local communities For personal use only  Reducing child malnutrition through school lunch programs  Construction and refurbishment of local health centres  Malaria awareness campaigns and mosquito net distribution Environme

  21. Slide 21: Setting the Pace for Mid-Tier Producers

    WEST AFRICAN RESOURCES LTD S E T T I N G T H E PA C E F O R M I D - T I E R P R O D U C E R S • Quality team aligned with shareholders TEAM For personal use only • 5 years of meeting or beating production guidance GOLD • 7 Moz unhedged gold reserves EXPOSURE • 13.7 Moz unhedged gold resources • Buil

  22. Slide 22: West Africa's Growing Mid-Tier Gold Producer

    For personal use only WEST AFRICAN RESOURCES LTD W E ST A F R I C A’S G R O W IN G M I D - TIER G O LD PR O D U C ER w w w. w e s t a f r i c a n r e s o u r c e s . c o m A S X : WA F

  23. Slide 23: Capital Structure

    WEST AFRICAN RESOURCES LTD C A P I TA L S T R U C T U R E INVESTOR BY GEOGRAPHIC LOCATION1,3 Australia & NZ ASX: WAF 51.3% Total Ordinary Shares on Issue 1,143,753,008 Europe For personal use only 26.7% Performance rights on issue 8,191,508 North America 18.5% Top 20 Shareholders1 59% Asia 3.6% Cash

  24. Slide 24: Mineral Resources

    MINERAL RESOURCES Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Containe Containe Contain Containe Tonnes Grade d Au Tonnes Grade d Au Tonnes Grade ed Au Tonnes Grade d Au For personal use only g/t (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz (000) t

  25. Slide 25: Ore Reserves

    ORE RESERVES Proved Probable Proved + Probable For personal use only Tonnes Grade Contained Au Tonnes Grade Contained Au Tonnes Grade Contained Au (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz M1 South UG 2,130 6.3 430 2,990 5.4 520 5,120 5.8 950 M5 South UG 0 0.0 0 2,550 2.8 230 2,

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