Slide 1: Merger of Equals to Establish Guinea's Leading Gold Producer
Merger of Equals to Establish Guinea’s Investor Presentation Leading Gold Producer ASX:PDI; ASX: RXR; TSX-V: RBX October 2025 1
Slide 2: Forward Looking Statements, Disclaimer and Compliance
Forward Looking Statements, Disclaimer and Compliance Forward Looking Statements and Important Notice. This investor presentation is dated 6 October 2025 and has been prepared jointly by Predictive Discovery Limited (ASX: PDI) (PDI) and Robex Resources Inc. (TSX-V: RBX), with CHESS Depositary Intere
Slide 3: Important Notices and Disclaimer
Important Notices and Disclaimer PDI Mineral Resource and Ore Reserve Estimates The Mineral Resource estimates for the NEB and BC projects referred to in this presentation were released to ASX on 7 August 2023 in an announcement by PDI titled “Bankan Mineral Resource Increases to 5.38Moz” and the Mi
Slide 4: Transaction Highlights
Transaction Highlights Establishes platform to build Africa’s next mid-tier gold producer, pairing a leading development team with a Tier-1 asset o Combines two of the largest, lowest cost and most advanced development gold projects in West Africa, enhancing Pathway to becoming scale, access to capi
Slide 5: Transaction Summary
Transaction Summary Merger of Equals to create a West African gold producer of significant scale o Merger of PDI and Robex via plan of arrangement under the Business Corporations Act (Québec) via an all-share transaction Transaction o Robex shareholders to receive 8.667 PDI shares per Robex share St
Slide 6: PDI & Robex Combination
PDI & Robex Combination Setting the stage for the next West African gold producer of scale 6
Slide 7: Building Guinea's Leading Gold Producer
Building Guinea’s Leading Gold Producer Consolidation of two major assets to create the largest gold producer in the Siguiri Basin Units Bankan Kiniero Mine Life years 12 9 Ore Mined / Processed Mt 55 39 Processing Rate Mtpa 4.5 5.0 Project Metrics LOM Avg. Recovery % 93% 86% LOM Avg. Head Grade g/t
Slide 8: Pathway to Becoming one of West Africa's Leading Gold Producers
Pathway to Becoming one of West Africa’s Leading Gold Producers MergeCo positioned to become one of the largest low-cost gold producers among African gold miners Total Mineral Resources (Moz Au Eq.) CY2024A Production (koz Au Eq.) CY2024A AISC (US$/oz Au Eq.) 1 Pan African 25.8 15.4 41.2 Endeavour 1
Slide 9: Establishing a Tier-1 West African Gold Producer
Establishing a Tier-1 West African Gold Producer1,2 MergeCo Strategically positioned with low-cost, long-life assets relative to peers Median Producer Mine Life $2,600 Tarkwa Size Based on Prod. (Koz AuEq.) Siguiri African Production Assets $2,400 Essakane Global Development Assets $2,200 Geita Nort
Slide 10: De-risked funding of Bankan by leveraging MergeCo cash flows
De-risked funding of Bankan by leveraging MergeCo cash flows Aligned project development timelines for medium to long-term growth 2025 2026 2027 2028 2029 Construction Kiniero Generating cash flows to be reinvested in MergeCo assets Production 2026: US$159m1 2027: US$157m1 2028: US$141m1 2029: US$14
Slide 11: Potential for Meaningful Corporate & Operational Optimizations
Potential for Meaningful Corporate & Operational Optimizations Multiple value enhancement opportunities Leading development team ready to move from Kiniero construction to Bankan development, applying lessons learned and optimizing workforce development Enlarged land package with +55km strike of the
Slide 12: Right Skill-Set to Drive Value Creation
Right Skill-Set to Drive Value Creation Experienced leadership team with proven track-record of executing projects in Africa, including Guinea Board Andrew Pardey Matthew Wilcox Alain William Simon Jackson Steven Michael Alberto Lavandeira Howard Golden Non-Executive Chair CEO & Managing Director Ex
Slide 13: Enhanced Capital Markets Relevance
Enhanced Capital Markets Relevance Merger enhances scale, liquidity & market appeal MergeCo Market Capitalisation vs Direct Peers (US$m) MergeCo Eligible for Several Key Index Inclusions Endeavour $10,343 ✓ MergeCo would remain eligible for S&P / ASX index inclusions, even with a secondary listing o
Slide 14: Operating Jurisdiction
Operating Jurisdiction Guinea is an established gold-producing jurisdiction with long term exploration and mining activity o Host to multiple world-class mining projects operated by leading international companies o Established gold industry o Global leader in bauxite "The Guinean economy is one of
Slide 15: MergeCo Portfolio Overview
MergeCo Portfolio Overview Combination of leading projects in Guinea 15
Slide 16: Kiniero Updated FS Highlights
Kiniero Updated FS Highlights High-margin gold project with robust economics, strong production profile, and significant growth potential Large resource with potential for further reserve conversion Costs in-line with budget 1.4Moz mineral reserve US$243m pre-production capex (45.5Mt @ 0.97 g/t) 2.2
Slide 17: Kiniero Project Development Update
Kiniero Project Development Update Kiniero’s construction on schedule and budget ✓ Process plant design is complete ✓ Process plant and power station concrete works are complete ✓ Process plant SMP works progressing well at 22% complete, erected or preassembled ✓ Both CIL tank trains completed with
Slide 18: Kiniero Significant Exploration
Kiniero Significant Exploration 470km2 land package largely underexplored o Exploration Potential Sabali North & Central Ind. 145koz at 1.21g/t Inferred 31koz at 1.39g/t • Consists of the adjoining Kiniero permit area (exploitation permits) and Mansounia permit SGA Complex Ind. 568koz at 1.46g/t are
Slide 19: Bankan DFS Highlights
Bankan DFS Highlights 1 Large-scale, long-life gold development project with compelling economics and strong leverage to the current gold price environment 1 Significant reserves Competitive capex & resources1 & opex2 2.95Moz ore reserve US$463m pre-production capex (51.6Mt @ 1.78 g/t) (broadly in-l
Slide 20: Bankan Significant Exploration Upside
Bankan Significant Exploration Upside 35km of Siguiri Basin margin; positive results at multiple exploration targets in the NEB area and at Argo1 Near-Resource Targets o Numerous near-surface prospects have been identified within 3kms of the NEB and BC deposits o Targets defined from shallow drillin
Slide 21: Nampala Financial and Operational Highlights
Nampala Financial and Operational Highlights Nampala Operations Historical Gold Production (koz Au) o Located in southern Mali within the Leo-Man Shield of 60 Location Mali the West Africa Craton 80% Robex / 20% Mali o 380koz Au produced at an average AISC of US$928/oz Ownership Government between 2
Slide 22: Merger of Equals Increases Scale and Benefits to All Shareholders
Merger of Equals Increases Scale and Benefits to All Shareholders Creation of Africa’s next Consolidation of two of the most promising and De-risked funding of mid-tier gold producer, contiguous assets in Bankan by leveraging on track to produce Guinea, with total MergeCo cash flows +400kozpa by 202
Slide 23: Appendix
Appendix 23
Slide 24: Production and Capex Benchmarking
Production and Capex Benchmarking Bankan and Kiniero rank among the most capital-efficient advanced-stage gold projects in Africa1 Top-tier African Gold Projects – Production (kozpa Au)2 265 249 240 223 Median: 170kozpa 183 172 167 167 162 162 150 139 Nyanzaga Kalana Meyas Sand Kobada Kiniero Assafo
Slide 25: Kiniero Updated FS Production and Financial Metrics
Kiniero Updated FS Production and Financial Metrics Cash flows from Kiniero leveraged to de-risk Bankan development Units Number Gold Production (koz Au) & AISC (US$/oz)2 Mine Life years 9 Production AISC Production Metrics 200 1,600 Ore Processed Mt 45.4 1,400 Processing Rate Mtpa 5.0 150 1,200 $1,
Slide 26: Bankan DFS Production and Financial Metrics
Bankan DFS Production and Financial Metrics Units Number Gold Production (koz Au) & AISC (US$/oz)1 Mine Life years 12.2 Production AISC Production Metrics Ore Mined / Processed Mt 54.5 400 1,600 350 1,400 Processing Rate Mtpa 4.5 $1,293 $1,269 300 $1,203 $1,214 $1,219 $1,209 1,200 $1,094 $1,126 $1,0
Slide 27: Pro Forma Capitalization
Pro Forma Capitalization Units Pro Forma Market Capitalization1 A$m A$1,200 A$1,149 A$2,350 Market Capitalization1 US$m $793 $759 $1,552 Cash (as at 30 June 2025) US$m $46 $405 $86 Debt (as at 30 June 2025) US$m -- $25 $25 Total Mineral Reserves2,3 Moz Au 3.0 1.5 4.5 Total Mineral Resources2,4 Moz A
Slide 28: Track Record of Project Execution
Track Record of Project Execution Combined team has successfully completed many gold developments in Africa, including in Guinea Siguiri Sukari LEFA1 Gross Abujar (Guinea) (Egypt) (Guinea) (Russia) (Côte d'Ivoire) 2003 2009 2015 2018 2023 LEFA Bissa Bouly Sanbrado Kiniero (Guinea) (Burkina Faso) (Bu
Slide 29: Robex Reserves & Resources
Robex Reserves & Resources Kiniero1,2 Nampala3,4 Tonnage Gold Grade Contained Tonnage Gold Grade Contained Deposit Weathering Type (Mt) (g/t Au) (Moz Au) (Mt) (g/t Au) (koz Au) Probable Probable Jean 4.2 1.53 0.20 Oxide 3.3 0.90 94.6 SGA 5.1 1.52 0.25 Transition 0.8 1.06 26.4 SGD 3.4 1.34 0.14 Total
Slide 30: PDI Reserves & Resources
PDI Reserves & Resources Reserves1,2 Resources1,3 Tonnage Gold Grade Contained Tonnage Gold Grade Contained Deposit Mining Method Classification Deposit Classification (Mt) (g/t Au) (koz Au) (Mt) (g/t Au) (koz Au) Open Pit Probable 40.2 1.36 1,751 Indicated 78.4 1.55 3,900 NEB Underground Probable 7
Slide 31: Sources for Total Mineral Resources, 2024A Production and 24A AISC
Sources for Total Mineral Resources, 2024A Production and 2024A AISC Total Resource M&I Resource Inferred Resource 2024A Production 2024A AISC Company Sources (Moz) (Moz) (Moz) (koz) (US$/oz) https://www.panafricanresources.com/wp-content/uploads/PAR-interim-results-presentation-31-December- 2024.pd
Slide 32: Sources for Production, AISC and Mine Life Benchmarking (Producers)
Sources for Production, AISC and Mine Life Benchmarking (Producers) Asset Owner/Operator Metric Used Production (kozpa) AISC (US$/oz) Mine Life Sources https://s25.q4cdn.com/322814910/files/doc_financial/annual_reports/2024/Barrick_Annual_Report_ Loulo1,2 Barrick 2024 Results 723 $1,304 13 2024.pdf
Slide 33: Sources for Production, AISC and Mine Life Benchmarking (Developers)
Sources for Production, AISC and Mine Life Benchmarking (Developers) Asset Owner Study Used Production (kozpa) AISC (US$/oz) Mine Life Sources Eskay Creek Skeena FS 320 $687 12 https://minedocs.com/27/Eskay-Creek-FS(updated)-11142023.pdf https://downloads.ctfassets.net/hdghwvgt3xim/42yNQ6zp8FAkSRXac
Slide 34: Sources for Production and Capex Benchmarking
Sources for Production and Capex Benchmarking Asset Owner Asset Stage Production (kozpa) Initial Capex (US$m) Sources https://edv-14806-s3.s3.eu-west-2.amazonaws.com/files/1517/4662/7179/250501_- Assafou Endeavour PFS 265 $734 _Endeavour_Mining_Corporate_Presentation_May_VF.pdf https://s203.q4cdn.co
Slide 35: Material ASX Releases
Material ASX Releases BANKAN DFS CONFIRMS OUTSTANDING PROJECT ECONOMICS, 25/06/2025 IMPRESSIVE GOLD HITS CONTINUE AT 4.2MOZ BANKAN GOLD RESOURCE, 25/08/2022 HIGH GRADE DRILL RESULTS EXTEND BANKAN CK DISCOVERY TO NORTH, 11/02/2021 ARGO AND BOKORO EXPLORATION PERMITS UPDATE, 28/05/2025 DEEPEST HOLE TO
Slide 36: For further information contact
For further information contact PDI Investor Enquiries: Media Enquiries (UK / Global): ANDREW PARDEY BOBBY MORSE / LOUISE MASON-RUTHERFORD CEO and Managing Director Burson Buchanan T +44 (0)7802 875227 / +44 (0)7850 593445 E predictive@buchanancomms.co.uk Robex Investor Enquiries: MATTHEW WILCOX Med