Serval Resources Plc · LSE:SRVL
Serval Resources — Investor Presentation (February 2026)
26 slides from Serval Resources's investor presentation, February 2026
Slide 1: Hunting for new deposits in Africa's most prospective regions
A brand operated by Oscillate PLC The future runs on copper Hunting for new deposits in Africa’s most prospective regions February 2026 servalresources.com 1
Slide 2: Disclaimer
Disclaimer • This document, together with any oral briefing which accompanies it and which is personal to the recipient, has been issued by Oscillate plc (the “Company”). This document does not constitute or form part of, and should not be construed as, any offer or invitation to sell or issue, or a
Slide 3: Introduction to Serval Resources
Introduction to Serval Resources Creating a pre-eminent copper vehicle for the London market Listing: AQSE: SRVL Still trading as Oscillate PLC until AIM listing • Major copper and associated strategic metals As at 5 February 2026: opportunity Shares in issue: 425.4 million Share price: £0.055 • Foc
Slide 4: Highly Experienced Team
Highly Experienced Team Senior Management Luhann Theron Directors Chief Geologist Mr. Theron is a geologist with 13 years' experience, specialising in exploration in sub- Saharan Africa. Experience spans a range of regions including: the Central African Copper Belt, the Kalahari Copper Belt, the Kal
Slide 5: Rapid timeline to refocus business in 2025
Rapid timeline to refocus business in 2025 2026 Planned step up to AIM September October January July December Fieldwork in Oscillate PLC Robin Birchall Agreement reached to Geophysics Côte d’Ivoire launches Serval appointed as CEO acquire Kalahari Copper programme in September completed on Resource
Slide 6: Multiple Upcoming Value Triggers & Newsflow
Multiple Upcoming Value Triggers & Newsflow¹ Table below gives indicative workstreams, but it’s important to note that each licence contains multiple targets Investment that can be evaluated with individual timelines Summary The right commodity • Copper is essential to modern and future society At t
Slide 7: KCL Deal Terms
KCL Deal Terms Acquisition of KCL and the licences held by its subsidiaries in Namibia and Botswana • £500k initial payment, some of which was allocated to initial work programmes and licence renewals • Issue 30% of the Company’s outstanding shares to KCL • Raise up to £5 million and payment of £2 m
Slide 8: Namibia – The Kaoko Basin
Namibia – The Kaoko Basin The interpreted extension of the Central African Copper Belt • This emerging copper region is the interpreted extension of the Central African Copper Belt that runs through Zambia and the DRC • The Central African Copper Belt is the largest and most prolific mineralised sed
Slide 9: Geological Similarities
Geological Similarities • Both the Central African Copperbelt and the Kaoko Basin are known to host significant stratabound (sediment-hosted) copper and silver deposits • Mineralisation at the Omatapati prospect also shown to have multistage hypogene mineralisation events with supergene overprint (N
Slide 10: Kaoko Basin Highlights
Kaoko Basin Highlights Potential for multi-deposit discoveries • Four 100% owned licences (three pending renewal) covering 789 km2 • 9,265m of drilling carried out by KCL • Multiple intersections demonstrating Cu mineralisation on multiple prospects, occurring from surface • Pathway to maiden resour
Slide 11: Kaoko Basin Highlights
Kaoko Basin Highlights Potential for multi-deposit discoveries Prospectivity confirmed by active artisanal workings and extensive visible mineralisation Selected drill intersections from KCL’s 2024/2025 campaigns PL FROM HOLE PROSPECT TO (M) INTERVAL (M) CU% AG (G/T) INCLUDING NUMBER (M) 7081 OPR001
Slide 12: Botswana – The Kalahari Copper Belt
Botswana – The Kalahari Copper Belt One of the most prospective regions in the world for new sedimentary copper discoveries (US Geological Survey) • The Kalahari Copper Belt (KCB) is now emerging as an important source of new copper supply: • 2008: no resources in the KCB; now ca. 15 Mt contained Cu
Slide 13: KCB Highlights
KCB Highlights Licences in prime acreage along strike to existing discoveries • 17, 100%-owned licences (two pending renewal) covering 1,453 km2 Serval Resources Exploration licences Botswana • Licences along strike and adjacent to operating mines and development projects • Exploration thesis: targe
Slide 14: Exploration Priority 1: PL235 and PL232
Exploration Priority 1: PL235 and PL232 Mineralised contact intercepted on 13 historic drillholes • Regional geophysics targeted an anticlinal structure which extends the breadth of the licence • Both limbs of the Anticline fold are present • Shallow intersections in some holes • Potential for class
Slide 15: Exploration Priority 1: PL235 and PL232
The PL232 Cluster consists of a series of Exploration Priority 1: PL235 and PL232 licences that are in close proximity to MMG’s Khoemacau operations • Khoemacau is one of the world’s highest quality new copper mines, with a mine life of +20 years • Production of ca. 60ktpa Cu and ca. 1.6Moz Ag, with
Slide 16: Exploration Priority 2: PL082 / 061
Exploration Priority 2: PL082 / 061 PL082 and PL061 are on strike to Cobre’s Ngami Project At Cobre: • Geophysics used to guide drilling, airborne EM, AGG (gravity) and seismic survey; 20,000m drilling to date • Maiden mineral resource of 11.5Mt at 0.52% Cu + 11.6 g/t Ag • Upside potential of 205 to
Slide 17: Côte d'Ivoire – Duékoué
Côte d’Ivoire – Duékoué Joint venture with La Miniere de L’Elephant SARL JV Terms • Right to acquire 100% through payment of US$1m • Serval to fund <US$650k exploration expenditure for • An emerging copper belt proximate to the Archean / Proterozoic duration of earn-in period (36 months) boundary wi
Slide 18: Funding Summary
Funding Summary Cash on hand at 31 May 2025: • Serval Resources will be strategically positioned in potentially US$1.51 million major new copper belts, which remain under-explored in contrast to their high potential Budgeted requirements to end July 2026¹: • Significant and consistent newsflow to be
Slide 19: Appendix
APPENDIX servalresources.com 19
Slide 20: The future runs on copper
The future runs on copper Digital Sector Energy Transition Infrastructure and Housing Copper underpins digital Copper is indispensable in the Copper is the backbone of technologies. Its conductivity and transition to sustainable energy, due construction and urbanisation. Its durability are essential
Slide 21: S&P forecast potential 10 Mt shortfall by 2040
S&P forecast potential 10 Mt shortfall by 2040 • Copper demand expected to grow by ca. 50% from 28 Mtpa to 42 Mtpa by 2050¹ • Supply side heavily reliant on a handful of ageing mines with declining grades 2025 was a breakout year for both copper and silver pricing • Major supply shocks in 2025 expec
Slide 22: Copper Deposit Valuation Metrics
Copper Deposit Valuation Metrics SP Angel Peers EV EV/M&I EV/MI&I EV/Output M&I MI&I MI&I MI&I Project Stage Location US$M US$/t US$/t US$/t mt Cu pp CuEq pp CuEq kt Att NGEX Minerals 3,848 332 233 - 2,080 0.38 0.52 11,400 Lunahuasi/Los Helados NI 43-101/JORC Argentina/Chile Hot Chili 167 41 35 1,54
Slide 23: The KCB: A Geological Super-Structure
The KCB: A Geological Super-Structure • The KCB is a northeast-trending Meso- to Neoproterozoic belt that occurs discontinuously from western Namibia and stretches into northern Botswana along the northwestern edge of the Paleoproterozoic Kalahari Craton • Ca. 1,000 km long and ca. 250 km wide, cont
Slide 24: Nearby Kopano mine could provide geological model for PL085
Nearby Kopano mine could provide geological model for PL085 • Kopano Mine mineralisation hosted in steeply dipping carbonaceous and PL085 argillaceous metasediments • Hypogene sulphide mineralisation occurs in subvertical epithermal quartz-calcite veins and breccias containing predominantly chalcopy
Slide 25: On border of Namibia near Noronex and South32 prospects
PL231 On border of Namibia near to where Noronex and South32 are evaluating interesting exploration prospects • Ground magnetics, Audio-frequency Magnetotellurics (AMT) and groundbased Time Domain Electromagnetic (TEM) surveys • Combination of geophysics methods aims to seek N/D contact and identify
Slide 26: Thank you
A brand operated by Oscillate PLC Thank you Contact: Investor Relations Cathy Malins Tel: +44 7876 796 629 Email: cathy.malins@servalresources.com Website: www.servalresources.com servalresources.com 26
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