Aeris Resources Limited · ASX:AIS
Aeris Resources — Investor Presentation (October 2025)
44 slides from Aeris Resources's investor presentation, Oct 31, 2025
Slide 1: Equity Raise Presentation
Equity Raise Presentation 31 October 2025 Presented by: Andre Labuschagne Not for release to US wire services or distribution in the United States.
Slide 2: Disclaimer
Disclaimer IMPORTANT INFORMATION AND DISCLAIMER This Investor Presentation is dated 31 October 2025 and has been prepared, approved and authorised for despatch by Aeris Resources Limited (“Aeris” or the “Company”). By attending an investor presentation or briefing, or accepting, accessing or reviewi
Slide 3: Disclaimer
Disclaimer Investment risk All investments in securities are subject to known and unknown risks, including an investment in Aeris shares. Some of these risks are beyond the control of Aeris and its directors and officers, and Aeris does not guarantee any particular rate of return or level of perform
Slide 4: Disclaimer
Disclaimer Disclaimer Since this presentation is the Company’s document, to the maximum extent permitted by law, Aeris and the Joint Lead Managers (Bell Potter Securities Limited and Ord Minnett Ltd) and each of their respective related bodies corporate, shareholders and affiliates, and each of thei
Slide 5: Disclaimer
Disclaimer JORC Code It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (“JORC Code”). Investors outside Australia shou
Slide 6: Aeris Resources
Aeris Resources Australian mid-tier, base and precious metals producer 2 producing operations (FY26: 40-49kt copper eq.)1 3 development projects Investing in exploration Substantial copper production and metal inventory Excellent platform for growth 1. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produce
Slide 7: Corporate overview
Corporate overview Board of Directors AIS SHARE PRICE $0.70 $0.60 $0.50 $0.40 Andre Colin Michele Robert Millner $0.30 Labuschagne Moorhead Muscillo Non-Executive Executive Chairman Non-Executive Non-Executive Director $0.20 Director Director $0.10 $0.00 Senior Executives CAPITALISATION Market capit
Slide 8: FY26 Guidance: 40-49kt Cu eq
FY26 Guidance Compared to FY25 results Mine operating costs Exploration 40-49kt Cu eq 1 $302-369 MILLION $18-23 MILLION Sustaining capital Starting cash and receivables2 24-29kt Cu produced $57-70 MILLION $49.5 MILLION 44-56koz Au produced Growth capital $65-80 MILLION 240-293koz Ag produced 1. Cu
Slide 9: Aeris strategy for FY26
Aeris strategy for FY26 Balance Sheet • Repay debt by August 26 06 01 Operational Delivery Tritton • Assets sales • Murrawombie Pit • Consider hedging strategy • Constellation on time • Resource extension • LOM Cracow • Golden Plateau • Resource extension • LOM Growth • Focus on life extensions 05 R
Slide 10: Equity Raise Overview
Equity Raise Overview
Slide 11: Equity raise overview
Equity raise overview Event Date Wednesday, 29 October Placement to raise $80 million via the issue of approximately 177.8 million Trading Halt 2025 shares, utilising Aeris' existing placement capacity under Listing Rule 7.1 and 7.1A (Placement) Wednesday, 29 October Placement bookbuild opens 2025 2
Slide 12: Use of proceeds
Use of proceeds Improved balance sheet + accelerated exploration and growth capital Immediate repayment of WHSP term facility and fees Use of Placement Proceeds $m Additional exploration drilling at Cracow in FY26/27 – Golden Repayment of WHSP facility 45.3 Plateau and Southern Vein Field Bring forw
Slide 13: Pro-forma capital structure
Pro-forma capital structure Excludes SPP and sale of North Queensland assets Pro-forma Pro-forma Unit Current Placement (Post Debt (Placement only) Repayment) Shares on issue #m 971.4 177.8 1,149.2 1,149.2 Cash $m 32.01 80.0 112.02 62.33 Debt $m 40.04 - 40.0 - Net cash / (debt) $m (8.0) - 72.0 62.3
Slide 14: Tritton
Tritton New South Wales
Slide 15: Tritton
Tritton Strategic, cornerstone asset Strategic location in the Cobar region of NSW ~450kt copper produced since operations began in 2005 and over 300kt still in Resource1 2,330km2 prospective tenement package FY26 guidance of 24 – 29kt Cu, a 37% improvement on FY252 Excess mill capacity longer term
Slide 16: Operational performance
Operational performance Increasing Tritton production 30 25 FY26 guidance of 24 – 29kt,up 37%1 on previous year 20 Cu Produced (kt) Stockpiled ore from Murrawombie Pit will enable mill to run at 2Mtpa rate2 (above nameplate capacity) 15 Sustaining material improvements in key production enablers in
Slide 17: Murrawombie Pit
Murrawombie Pit Waste stripping in first half of year with ore delivery in second half Tritton Mined Ore1 Murrawombie Pit ore to provide approx. 35% FY26 mill feed Murrawombie Pit Stage 1 ore processing complete and Stage 2 waste stripping underway to deliver ore in Jan 2026 Waste from cut back used
Slide 18: Constellation
Constellation Potential long-life mine to commence in FY27 Ore Reserve pit shells showing Indicated and Inferred Resource from the March 2025 MRE Large Mineral Resource defined: 7.6Mt of 2.01% Cu and 0.66g/t Au containing 153kt copper and 161koz gold1 Maiden Ore Reserve declared for open pit materia
Slide 19: Extend mine lives
Extend mine lives Underground Drill Metres Ramping up drilling at Tritton 100,000 80,000 Strong focus on Mineral Resource growth at multiple deposits ~80,000m underground diamond drilling planned in FY26 60,000 Target depth extensions at Avoca Tank, Budgerygar and Tritton 40,000 20,000 - FY20 FY21 F
Slide 20: Mine Life Growth
Mine Life Growth All current ore sources still open at depth 20
Slide 21: Cracow
Cracow Queensland
Slide 22: Cracow
Cracow High margin gold mine with long operating history Cracow production and Resources1 under Aeris ownership 800 Underground gold mine in continuous production since 2004 700 600 Conventional crush and grind CIP processing plant 500 koz Au Produced +1.7Moz gold since first production in 2004 400
Slide 23: Exploration: Golden Plateau
Exploration Golden Plateau ~850koz produced via open-pit and underground (~260m below surface) Open-pit proportion 190koz1 from remnants to ~120m below surface) Investigating large, lower grade mineralised halo around old stoping areas below the Golden Plateau pit2 A majority of the Mineral Resource
Slide 24: Exploration: Greenfield targets
Exploration Greenfield targets Targeting a +1Moz Western Vein Field analogue at the Southern Vein Field Airborne magnetic survey completed to aid finalisation of drill targets under 500m cover Drilling planned for FY26 to test geology model and identify prospective structures (limited historical dri
Slide 25: Projects
Projects Jaguar Stockman
Slide 26: Revised Jaguar strategy
Revised Jaguar strategy Reducing holding costs while undertaking low cost, high return exploration Strategy is to focus on +10 year life operations Pausing feasibility study while further exploration is undertaken 8 high priority base metals drill targets to be tested $3.1 million exploration progra
Slide 27: Jaguar
Jaguar Highly prospective for gold mineralisation Very significant gold endowment in the region 4.7Moz Thunderbox Operation1 located 8km north of the Jaguar tenements, 3.5Moz King of the Hills mine2 located 10km west Jaguar tenements highly prospective but had limited exploration Several advanced pr
Slide 28: Unlock Stockman
Unlock Stockman Consider partnering to unlock long term value High-grade Ore Reserve of 9.6Mt at 1.9% Cu, 4.3% Zn, 1.0g/t Au, 36g/t Ag1 Multiple processing routes assessed along with detailed cost estimates Potential to create a long life, high value operation Currawong mine plan Considering options
Slide 29: Summary
Summary Australian mid-tier, base and precious metals producer 2 producing operations (FY26: 40-49kt copper eq.)1 3 development projects Investing in exploration Substantial copper production and metal inventory Excellent platform for growth 1. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produced x Au $
Slide 30: Appendix A
We are /\ciis Appendix A
Slide 31: Group Ore Reserves
Group Ore Reserves (At 31 Dec 2024) BASE METALS Category Tonnes Grade Contained Metal Asset (‘000) Cu (%) Zn (%) Au (g/t) Ag (g/t) Cu (kt) Zn (kt) Au (koz) Ag (koz) Tritton Proved 100 0.7 - - - 1 - - - Probable 2,280 1.6 - 0.3 6 36 - 23 444 Total 2,380 1.5 - 0.3 6 37 - 23 444 North Qld Proved - - --
Slide 32: Group Mineral Resources
Group Mineral Resources (At 31 Dec 2024) BASE METALS Category Tonnes Grade Contained Metal Project (Mt) Cu (%) Zn (%) Au (g/t) Ag (g/t) Cu (kt) Zn (kt) Au (koz) Ag (koz) Tritton Measured 0.4 1.0 - 0.1 2 4 - 1 30 Indicated 11.0 1.6 - 0.4 4 179 - 158 1,270 Inferred 7.5 1.8 - 0.3 4 131 - 73 840 Total 1
Slide 33: FY26 Guidance
FY26 Guidance Tritton FY26 Guidance FY25 Actual Group FY26 Guidance FY25 Actual Production Production Copper kt 24 - 29 19.4 Copper kt 24 - 29 24.9 Gold koz 8 - 10 6.1 Gold koz 44 - 56 55.2 Silver koz 215 - 263 185.2 Silver koz 240 - 293 185.2 Copper equivalent1 kt 40 - 49 42.1 Operating Costs Mine
Slide 34: Appendix B Risk Factors
We are /\ciis Appendix B Risk Factors
Slide 35: Risk factors
Risk factors Introduction There are risks involved with participating in the Offer and holding Shares in Aeris Resources Limited (the “Company”, “Aeris”, "we" or "us"). Certain of these risks are specific to an investment in the Company and others are specific to investing in and holding securitie
Slide 36: Risk factors (cont.)
Risk factors (cont.) Operational and cost risk The Company is a producer of copper and gold which is sold under commercial contracts. The Company’s immediate plans and objectives are dependent upon a continuation of such production generating operating surpluses to assist the Company in funding its
Slide 37: Risk factors (cont.)
Risk factors (cont.) Financial solvency risk Aeris seeks to maintain an adequate cash balance to provide sufficient liquidity to operate, given the business has a substantial working capital requirement owing to the pattern of commodity sales and variability of commodity prices. Maintaining sufficie
Slide 38: Risk factors (cont.)
Risk factors (cont.) Health and safety risk As with any mining project, there are health and safety risks associated with the Aeris’ operations in Australia. While Aeris regularly and actively reviews its workplace health and safety systems and monitors its compliance with workplace health and safet
Slide 39: Risk factors (cont.)
Risk factors (cont.) Unforeseen expenses The Company’s cost estimates and financial forecasts include appropriate provisions for material risks and uncertainties and are considered to be fit for purpose for the proposed activities of the Company. If risks and uncertainties prove to be greater than e
Slide 40: Risk factors (cont.)
Risk factors (cont.) General litigation risk Aeris may from time to time be involved in legal, regulatory and other proceedings and disputes arising from its businesses and operations. These disputes may lead to legal, regulatory and other proceedings, and may cause the Company to incur significant
Slide 41: Appendix C International Offer Restrictions
Appendix C International Offer Restrictions
Slide 42: International offer restrictions
International offer restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company 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
Slide 43: International offer restrictions
International offer restrictions Canada This Presentation constitutes an offering of New Shares only in the Provinces of Ontario and Quebec (the “Provinces”), only to persons to whom New Shares may be lawfully distributed in the Provinces, and only by persons permitted to sell such securities. This
Slide 44: International offer restrictions
International offer restrictions European Union (excluding Austria) This Presentation has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this Presentation may not be made available, nor may the New Shares be offered for sale, in
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