Slide 1: Building the Youanmi Gold Mine
ASX: RXL Building the Youanmi Gold Mine Robust. Grade. Margin. Upside. Corporate Update | May 2026
Slide 2: Important Information and Disclaimer
Important Information and Disclaimer ASX: RXL Important - you must read the following before continuing Not investment advice This presentation does not constitute investment advice and has been prepared without taking into account the recipient's The following notices and disclaimers apply to this
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer ASX: RXL Production Target Metallurgical Results The Production Target (and forecast financial information derived from the Production Target) referred to in this announcement is The information in this presentation that relates to metallurgical results is based
Slide 4: Flagship - Youanmi Gold Mine
Flagship - Youanmi Gold Mine ASX: RXL • Located in the central Youanmi Greenstone Belt, within the Southern Cross Province of the Archaean Yilgarn Craton • Situated in Western Australia - globally recognised as Australia’s premier gold province • Planned initial +7 year mine life averaging ~117koz p
Slide 5: Final Investment Decision Achieved
Final Investment Decision Achieved1 ASX: RXL November 2025 DFS Highlights Fully Funded • A$218 million (US$157 million) equity completed, ~40% of ~A$450 million Low Cost & High Margin (US$324 million) funding requirement • Syndicated Facility of A$300 million (US$216 million) plus A$20 million • Low
Slide 6: Mine Plan Growth Opportunities
Mine Plan Growth Opportunities ASX: RXL • Base Mine Plan is the starting point • Opportunities to unlock more potential in the Mine Plan with further planned drilling along strike and down dip • Top 300 metres of the Resource has greater than 4,000 ounces per vertical metre • Significant opportunity
Slide 7: Starter Program Unlocking Early Potential
Starter Program Unlocking Early Potential ASX: RXL • First program completed from surface • Underground drilling planned to commence in late May • Nominal 20m x 20m spacing, tighter as required, intent to have +12mths drilled ahead of mining • Next program from surface focussing on Youanmi/Indicator
Slide 8: Developing the Youanmi Gold Mine
Developing the Youanmi Gold Mine ASX: RXL Camp expansion well advanced United North Decline commenced in November 2025 Mill earthworks underway Corporate Update | May 2026 Main pit dewatered 8
Slide 9: Processing
Processing ASX: RXL Simple flowsheet to produce gold doré averaging 117koz per annum – recoveries estimated at 90.8%, with extra plant capacity Understood Metallurgy, Simple Flowsheet 92% of gold associated with sulphides, 60% of gold classified as free milling Sulphide combination of Pyrite and Ars
Slide 10: Exploration Potential
Exploration Potential ASX: RXL >60km strike on Youanmi Shear Zone • Very little drilling outside the existing mine areas of Youanmi and Penny West • Recent Aeromagnetic survey data processed and target generation underway • Successful Exploration Incentive Scheme (EIS) co-funding application for sou
Slide 11: Pathway to Production
Pathway to Production ASX: RXL CY25 CY26 CY27 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Key Project First Deliverables DFS Funding and FID Mill construction and commissioning Operating Milestones gold Resource extensional drilling Extensional drilling - From Surface and underground Growth Exploration drilling Expl
Slide 12: Team. Vision. Mission.
Team. Vision. Mission. ASX: RXL Board of Directors Stephen Dennis Phillip Wilding Alan Rule Non-Executive Chair Managing Director & CEO Non-Executive Director Experienced team with proven Nathan Stoitis David Boyd Non-Executive Director Non-Executive Director record in developing Australian gold min
Slide 13: Next Steps
Next Steps ASX: RXL Continue Site Establishment • Complete camp expansion (300 new rooms plus new dry mess) • Advance United North decline development, turnout ore drives – commence stockpile build • Main Youanmi Main Pit dewatered, transitioning to underground dewatering and commence development –
Slide 14: Corporate Information
Corporate Information ASX: RXL Capital structure (8 May 2026) Analyst Coverage Shares on Issue 1,390m Share Price A$0.435 (US$0.31) Market Capitalisation A$605m (US$436m) Performance Rights 30.4m Cash and cash equivalents1 A$200m (US$144m) $0.70 50 L1 Capital 45 $0.60 Other 18.0% 40 30.8% $0.50 35 V
Slide 15: Investment Highlights
Investment Highlights ASX: RXL High-Grade • High-Grade Ore Reserve declared 674koz @ 4.8 g/t • Initial Mine Plan of 900koz @ 4.9 g/t Resource • Mineral Resource of 2.2Moz @ 5.6 g/t Resource • Mineral Resource open down dip and along strike Growth to • Drilling planned in early CY2026 from undergroun
Slide 16: Thank You
ASX: RXL Thank You Level 1, 87 Colin Street, www.roxresources.com.au West Perth, Western Australia 6005 + 61 (8) 9226 0044 admin@roxresources.com.au rox-resources
Slide 17: Key Study Outcomes at A$5,200/oz Au
Key Study Outcomes at A$5,200/oz Au ASX: RXL Key Physicals Targets Capital Costs Key Financial Forecasts and Assumptions and Assumptions Life Of Mine1 years 6.8 Pre-production Capital A$m 383 Gold Price A$/oz 5,200 Plant Throughput ktpa 900 Sustaining Capital A$m 172 Discount Rate % 8 Mine Productio
Slide 18: Low All-In Sustaining Cost and Capital
Low All-In Sustaining Cost and Capital ASX: RXL LOM C1 Cash Cost and AISC Breakdown1 Pre-Production Capital Costs A$m Processing Facilities 217 (A$/oz) $2,000 $209 $1,978 Site Infrastructure 17 $1,800 $179 Underground Mining 28 $93 $1,590 $1,600 $593 Tailings Storage Facility 12 $1,400 Water Managem
Slide 19: Mining Profile
Mining Profile ASX: RXL Ore Tonnes (t) Mined Tonnes and Grade Grade (g/t Au) 1,000,000 10.0 900,000 9.0 800,000 8.0 700,000 7.0 600,000 6.0 500,000 5.0 400,000 4.0 300,000 3.0 200,000 2.0 100,000 1.0 - - FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 Production Tonnes Develo
Slide 20: Production Target
Production Target ASX: RXL Ounces (oz) Ounces Mined and AISC A$/ounce 200,000 $3,000 180,000 $2,700 160,000 $2,400 140,000 $2,100 120,000 $1,800 Board 100,000and Management $1,500 80,000 $1,200 60,000 $900 40,000 $600 20,000 $300 - $0 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 O
Slide 21: High-Grade Ore Reserve
High-Grade Ore Reserve ASX: RXL Existing Decline to ~600m below surface Ore Reserve Tonnes (Mt) Grade (g/t Au) Contained Ounces (koz) Proved Underground Ore Reserve - - - Probable Underground Ore Reserve 4.4 4.8 674 Total Underground Ore Reserve 4.4 4.8 674 Corporate Update | May 2026 21
Slide 22: Plan View and United North Section
Plan View and United North Section ASX: RXL Corporate Update | May 2026 22
Slide 23: Sections Youanmi Main (Nth) and Prospect
Sections Youanmi Main (Nth) and Prospect ASX: RXL Corporate Update | May 2026 23