Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Investor Presentation (October 2025)
24 slides from Kefi Gold And Copper's investor presentation, October 2025
Slide 1: A Leader in the Arabian-Nubian Shield
A Leader in the Arabian-Nubian Shield October 2025 kefi-goldandcopper.com
Slide 2: Disclaimer
Disclaimer ARABIAN-NUBIAN SHIE 2 kefi-goldandcopper.com Focused On Arabian -Nubian Shield
Slide 3: Corporate Snapshot
Corporate Snapshot ETHIOPIA: KEFI ▪ Substantial investment : Historical spend c.$110M, c.$60M since 2014GOLD + COPPER CAPITAL STRUCTURE (AIM:KEFI) ▪ Deep Value of Tulu Kapi, showing a range of values attributable to KEFI: ▪ KEFI NPV now $740M at 5%, at $3,000/oz Au, assume 70% beneficial interest 1.
Slide 4: Listed Benchmarks Indicate KEFI is Relatively Underpriced
Listed Benchmarks Indicate KEFI is Relatively Underpriced ARABIAN-NUBIAN SHIE * Orior Capital October, 2025 4 kefi-goldandcopper.com Focused On Arabian -Nubian Shield
Slide 5: Solid Platform for Rapid Growth
N Gold/Copper Deposit KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL Solid Platform for Rapid Growth KEFI (G&M JV) ELA Arabian Nubian Shield ETHIOPIA – Major new gold mine starting construction ▪ Tulu Kapi Gold Mine JV KEFI-Ethiopian Govt ▪ Starting construction. 1st stage 160Koz Year 1 open pit and then l
Slide 6: Update on Status of Tulu Kapi Finance Closing Process
Update on Status of Tulu Kapi Finance Closing Process ➢ US$340 million Project capital budget updated from 2023. ➢ US$240 million debt now formally signed with both banks, TDB and AFC. ➢ US$100 million equity-risk capital assembled at subsidiary level and now being finalised. ➢ Field activities on s
Slide 7: TK Financing: Equity Risk Capital – Optimising at Subsidiary Level
TK Financing: Equity Risk Capital – Optimising at Subsidiary Level ➢ US$100 million equity capital to be primarily at the Ethiopian subsidiary level ➢ Equity has already been invested or committed in the ordinary share capital of TKGM: ➢ US$20 million by the Government of Ethiopia and being spent by
Slide 8: Holding Structure: Regional Investors, Banks and Contractors
Holding Structure: Regional Investors, Banks and Contractors Regional Investor/s via Public Shareholders Preference Shares and / or Ordinary equity 100% 15% GMCO ARTAR KEFI Ethiopia ARABIAN-NUBIAN SHIE 85% Saudi Arabia c.85% .c.15% Tulu Kapi Gold Proposed Lender Critical Minerals Government Mines (T
Slide 9: Strong Team of Independent Experts Sign Off
Strong Team of Independent Experts Sign Off Tulu Kapi Signed Off by Leading Experts for the International Syndicate Security Due Diligence Financial Model ARABIAN-NUBIAN SHIE Environment & Social Definitive Feasibility Study Resources & Reserves 9 kefi-goldandcopper.com Focused On Arabian -Nubian Sh
Slide 10: Tulu Kapi
Tulu Kapi ARABIAN-NUBIAN SHIE COMMENCEMENT OF MAJOR WORKS NEW MAIN ACCESS ROAD 10 kefi-goldandcopper.com Focused On Arabian -Nubian Shield
Slide 11: Tulu Kapi Planned Site Layout - Overview
Tulu Kapi Planned Site Layout - Overview • Standard 2Mtpa CIL processing plant • Contract mining – truck and shovel • Open pit waste to ore ratio of 7.5 to 1 • Head grade of 2.1g/t gold (open pit) • Gold recoveries of 93% • Open Pit gold production (160koz in first full year) • 1.0Moz gold to be min
Slide 12: Tulu Kapi – Open Pit + Underground Mine
Tulu Kapi – Open Pit + Underground Mine Resource grades are 2.46g/t Au for open pit and 5.69g/t Au for the underground The average grade of ore processed will be ARABIAN-NUBIAN SHIE increased when the two sources are blended A DFS on mining the deeps is planned during construction of Open Pit and Pr
Slide 13: Stakeholders meeting
Stakeholders meeting At the site of Tulu Kapi’s initial construction camp. Overlooking the planned site processing facilities and mine ARABIAN-NUBIAN SHIE School provided by KEFI Minerals Ethiopia for the Tulu Kapi community 13 kefi-goldandcopper.com Focused On Arabian -Nubian Shield
Slide 14: CSR Policy & Strategy
CSR Policy & Strategy A Long-Term Partnership Between KEFI, Government & Community • Compensation and resettlement in accordance with local law and international standards • We support Government implementation of resettlement • We emphasize transparency and collaboration • Community inputs to progr
Slide 15: Tulu Kapi – Open at Depth
Tulu Kapi – Open at Depth 73,109m of Diamond drilling 49,625m of RC Drilling TKBH_293: 90m @ 2.8g/t Au 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling ARABIAN-NUBIAN SHIE 1,417m of Trenching TKBH_125 intersected mineralisation 140m down- plunge; interpreted to be east of main UG s
Slide 16: Tulu Kapi Mineral Resources & Ore Reserves
Tulu Kapi Mineral Resources & Ore Reserves Resources - 1.72Moz of contained gold at 2.65g/t Resource Category Area Tonnes Gold Contained Gold (millions) (g/t) (Moz) Indicated Above 17.7 2.49 1.42 1,400m RL Inferred 1.3 2.05 0.08 Sub-Total 19.0 2.46 1.5 Indicated Below 1.1 5.63 0.20 1,400 RL Inferred
Slide 17: Saudi Arabia – GMCO JV
ARABIAN-NUBIAN SHIE Saudi Arabia – GMCO JV Two advanced projects and large regional portfolio 17 kefi-goldandcopper.com Focused On Arabian -Nubian Shield
Slide 18: Hawiah – VMS Copper-Gold-Zinc-Silver
Hawiah –VMS Copper-Gold-Zinc-Silver Top 3 base metals discovery in Saudi Arabia – working on DFS • Major greenfield discovery made in 2019 • Combined Hawiah and Al Godeyer Mineral Resources now stand at 38.2Mt. • The deposits host an estimated 315,500 tonnes copper, 320,600 zinc, 822,900 oz gold and
Slide 19: Hawiah – Mineral Resources Continue to Expand at Depth
Hawiah – Mineral Resources Continue to Expand at Depth 19
Slide 20: Jibal Qutman - Near Surface, Orogenic Gold
Jibal Qutman - Near Surface, Orogenic Gold ~270Km² Licence Package Including 0.9Moz Resource • Intense focus on development planning for final investment decision late 2025 • A GMCO discovery on which work was suspended in New Asfingia 2016 during a regulatory overhaul and the site was Discovery re-
Slide 21: GMCO JV – Additional Exploration Licenses
GMCO JV – Additional Exploration Licenses ~1,000km² License Package • GMCO holds Exploration Licences (“EL’s”) via (ARTAR) covering ~1,000 km2 and further applications (ELA’s) • All licences being transferred into GMCO for ease of project financing • Teams mobilised onto 14 new EL’s, three times wha
Slide 22: KEFI Board of Directors
KEFI Board of Directors Experienced Industry Specialists for the Region Harry Anagnostaras-Adams John Leach Addis Alemayehou Alistair Clark Richard Robinson Executive Chair – B. Comm, MBA, Finance Director – BA Economics, Non-Executive – representative with the Non-Executive Non-Executive – Chair of
Slide 23: Management Team - Executive Directors Plus...
Management Team - Executive Directors Plus... Eddy Solbrandt – Chief Operating Officer Robert Williams - Corporate Development & Eddy began his career in the mining industry in 1986 and has since Technical Studies worked in open cut and underground metalliferous mines, as well as Rob began his caree
Slide 24: THANK YOU
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com
KEFI Gold and Copper — Investor Presentation (October 2025) on 6ix