Jameson Resources Limited · ASX:JAL
Jameson Resources — Investor Presentation (August 2026)
22 slides from Jameson Resources's investor presentation, Aug 5, 2026
Slide 1: Crown Mountain Project: A new source of high-quality steelmaking coal
For personal use only Crown Mountain Project A new source of high-quality steelmaking coal Major Milestones Towards Development INVESTOR PRESENTATION AUGUST 2026
Slide 2: Corporate Overview
Corporate Overview Share Capital Board and Management Team ASX Ticker JAL For personal use only Share Price (03/08/26) A$0.045 Shares Outstanding 793M Market Capitalisation A$36M Cash on Hand (30/6/26) $0.75M Major Shareholders Michael Gray Steve van Barneveld Mike McDonald Interim Chairman & CEO/MD
Slide 3: Investment Proposition
Investment Proposition Crown Mountain – one of the world’s most advanced greenfield steelmaking coal projects For personal use only New steelmaking coal • Long-term demand rising as Indian blast furnace production is set to double to 300Mt projects needed to meet • Reserves depleting and production
Slide 4: Crown Mountain – Right Location
Crown Mountain – Right Location Greenfield Project – Brownfield Location EVR – For personal use only Fording River Mine • Elk Valley – 60+ years of premium low volatile hard coking coal production, established with leading steelmakers EVR – Green Hills Mine • EVR ownership – Glencore 77%, Nippon Ste
Slide 5: Crown Mountain – Approvals Progress
Crown Mountain – Approvals Progress Section 27 Notice issued – a clear path to the Environmental Certificate For personal use only • The BC Environmental Assessment Office (EAO) has issued the Section 27 Notice, confirming completion of the Environmental Application Review • The EAO has requested Ja
Slide 6: Indigenous Engagement
Indigenous Engagement A landmark partnership with the Yaq̑it ʔa·knuqⱧi‘it First Nation For personal use only • Jameson is committed to the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) • Crown Mountain sits within ʔakanuxunik̑ ʔamakʔis, the unceded ancestral lands of the Ya
Slide 7: Pathway to Production
Pathway to Production A clear, statutory approvals process in British Columbia For personal use only Final application submission, Application review incorporating design Funding, offtake determined changes developed with partnerships complete by BC EAO Indigenous Nations and FID Early 2026 Q4 2026
Slide 8: The Cost Equation – Canada vs Queensland
The Cost Equation – Canada vs Queensland Cost advantages over Australian hard coking coal producers British Columbia – Crown Mountain Queensland – Bowen Basin For personal use only ROYALTY REGIME Profit-based BC mineral tax (PRRT-style) with ROYALTY REGIME upfront capital deductibility – minimal tax
Slide 9: Crown Mountain – Right Cost Structure
Crown Mountain – Right Cost Structure Key competitive advantages compared to Australian and other global producers ▪ Low strip ratio – life-of-mine product ratio 9.5 to 1 For personal use only ▪ Lower labour costs – Elk Valley labour approx. 20% cheaper than comparable Bowen Basin ▪ Lower taxes – BC
Slide 10: Partnership and Nation Building
Partnership and Nation Building First Nations engagement and Canadian economic independence First Nations Partnership Canadian Economic Contribution For personal use only INDIGENOUS-LED RECLAMATION Reclamation planning workshops underway with the EXPORT-ONLY INDUSTRY Yaq̑it ʔa·knuqⱧi‘it First Nation
Slide 11: Steelmaking Coal - Supply Vs Demand
Steelmaking Coal - Supply Vs Demand Supply and Demand: Global seaborne steelmaking coal For personal use only • Over the past 10 years, major producers have divested assets and/or deferred development of new projects • In Queensland, steelmaking coal exports have fallen from 210Mtpa in 2016 to 165Mt
Slide 12: Steelmaking Coal M&A Drives Growth
Steelmaking Coal M&A Drives Growth M&A has reached US$28.5 billion – greenfield development remains at zero For personal use only For Glencore, Whitehaven, Yancoal, US$28.5bn steelmakers and Indonesian investors, the only option for increased production has been US$21.9bn US$21.9bn acquisition of ex
Slide 13: Limited Advanced Greenfield Projects
Limited Advanced Greenfield Projects Crown Mountain leads the next generation of projects • Olive Downs (commenced April 2022) remains the last greenfield development For personal use only • Projects delayed significantly by uncertainty over regulatory environment (Alberta) and community opposition
Slide 14: The India Opportunity
The India Opportunity Premium hard coking coal demand from the world’s fastest-growing steel market For personal use only India lacks quality domestic steelmaking coal – premium No domestic supply hard coking coal must be imported 2x Premium supply New premium low-volume supply is increasingly scarc
Slide 15: Crown Mountain Project Overview
For personal use only Crown Mountain Project Overview Appendix INVESTOR PRESENTATION JULY 2026
Slide 16: World-class Opencut Reserves
World-class Opencut Reserves Multiple coal seams across the North, East and South Blocks For personal use only Section A-A Section B-B Section C-C Section D-D Opportunity for extension of South Pit subject to further in-fill exploration 16 I NV E STO R P RE S E NT AT IO N | A UG UST 2 0 2 6
Slide 17: World-class Opencut Resources and Reserves
World-class Opencut Resources and Reserves Coal Resources of 90.2Mt and a 57.5Mt Run of Mine Reserve Measured, For personal use only Measured & RESOURCES (Mt) Measured Indicated Indicated Inferred Indicated & Inferred • Coal Resources of 90.2Mt are well understood and defined North Block 10.1 3.0 13
Slide 18: Mining and Production
Mining and Production Low strip ratio and higher production from the North Pit in the initial years Waste ROM Coal Strip Ratio Product Strip Ratio Pit For personal use only MBcm Mt Bcm/t ROM Coal Mt Bcm/t Saleable North & East 73.6 18.0 4.1 10.3 7.2 South 196.5 39.5 5.0 18.2 10.8 Total 270.1 57.5 4.
Slide 19: 2025 Feasibility Update – Economic Outcome
2025 Feasibility Update – Economic Outcome Study highlights global advantages of Crown Mountain as future development For personal use only • 100% increase in NPV10 from 2021 Yield Optimisation Study to 2025 Feasibility Update Refer JAL ASX Announcement – Feasibility Update, 9 May 2025 19 I NV E STO
Slide 20: Project Feasibility Update
Project Feasibility Update Independent review confirms substantially improved economics For personal use only Time Study Capex Production Cost Post-tax NPV10 March 2015 Pre-Feasibility Study US$281M US$85.28/tonne $267M July 2020 Bankable Feasibility Study US$309M US$93.17/tonne $217M August 2021 Yi
Slide 21: Feasibility Update – Capital and Operating Costs
Feasibility Update – Capital and Operating Costs CapEx of US$394M and operating cost of US$102.79/tonne FOB Vancouver BFS July 2020 Feasibility Update 2025 Change Source For personal use only Mobile Mining Equipment US$92M US$111M 20% Komatsu/SMS Wash Plant and Coal Handling US$102M US$131M 28% Sedg
Slide 22: For further information, please contact
For personal use only For further information, please contact: Michael Gray Interim Chairman & CEO/MD P +61 8 9200 4473 M +61 417 736 461 E admin@jamesonresources.com.au www.jamesonresources.com.au
Jameson Resources — Investor Presentation (August 2026) on 6ix