Flagship Minerals Limited · ASX:FLG
Flagship Minerals — Investor Presentation (February 2026)
29 slides from Flagship Minerals's investor presentation, Feb 23, 2026
Slide 1: Corporate Overview
For personal use only Corporate Overview ASX: 23 February 2026
Slide 2: Strategy and Projects
Salares Norte Gold Fields Rosario Copper Strategy and Projects Flagship Minerals El Salvador Codelco Chanaral Low Capex and Opex projects Santo Domingo Capstone Copper Mantoverde For personal use only in superior strategic settings. Capstone Copper Nueva Esperanza Kingsgate La Coipa 1. Cost Kinross
Slide 3: Corporate snapshot
Corporate snapshot Compelling value drivers, underwritten by a large Au inventory. For personal use only Paul Lock Chairman & Managing Director Capital Structure1 Broad experience in international mineral resource initiatives . Former project financier and corporate advisor with big balance sheets a
Slide 4: Pantanillo Gold - Advanced Large Scale Oxide Gold Project
Pantanillo Gold 6 Salares Norte - 3.6Moz Au Gold Fields(6) Rosario Copper Flagship Minerals Advanced Large Scale Oxide Gold Project in the prolific Maricunga Gold Belt, Chile. For personal use only Hosts 47.4Mt @ 0.69g/t Au for 1.05Moz Au QFE(1) of mineralisation: • Supported by NI 43-101 and 20,531
Slide 5: Xinhai - Strategic Investor & EPC Partner
Xinhai - Strategic Investor & EPC Partner To provide 'in-house' expertise and services related to metallurgy and mineral processing Procurement For personal use only • Manufacturing studies, EPC and project financing. • 3rd Party Engineering • inc. Metallurgy Xinhai is a leading global process engin
Slide 6: Flagship's current gold peer group
As the growth shown in this graph may not be achievable, this information should not be relied upon by investors. Flagship's current gold peer group 5 How much are you paying for those gold oz's? For personal use only 500 $510/oz Flagship Minerals: ~A$79/oz Au4 Enterprise Value (A$, 20 February, 202
Slide 7: Growth analogue
As the growth shown in this graph may not be achievable, this information should not be relied upon by investors. Growth analogue 7,8,9 Rio2's Fenix project is located ~45km north of Pantanillo. For personal use only 1500 Ramp Up 1350 ~A$1,475m 1200 Market Cap (A$, 20 February 2026) 1050 Saturn Meta
Slide 8: Pantanillo: Advanced oxide gold
Pantanillo: Advanced oxide gold 8,10,11 Strong analogues and scale potential, positioning for lower cost. 14 For personal use only 0.8 Flagship Minerals (ASX: FLG) Flagship will achieve this focusing on oxide gold Pantanillo (Chile) (and copper) i.e. heap leachable mineralisation: 1.05 Moz Au QFE* H
Slide 9: A plan for growth
A plan for growth Leveraging substantial work to date for an accelerated For personal use only work program. WE ARE HERE Pantanillo Option Signed Assess and validate exploration, drilling, metallurgical data Re-assay existing Core & Lab Pulps, confirmatory met testing Prep drill data and assess requ
Slide 10: Pantanillo Gold
Pantanillo Gold +1 Million Ozs QFE with substantial. 15 opportunities for large inventory growth. For personal use only Flagship's Pantanillo >110km2 Exploitation Concessions: • 47.4Mt @ 0.69g/t Au for 1.05Moz Au QFE15 = <0.5% of total holding. • QFE being converted to JORC (2012) Mineral Resource.
Slide 11: Pantanillo Gold
Pantanillo Gold Pit shell is 850m x 200-600m. 15 Sits in 5km x 1.2km soils trend. For personal use only Open along strike and down dip. Gold in soil anomaly approximately 5km long and up to 1.2km wide: • Gold anomaly supported by elevated copper and molybdenum as well as other pathfinders. • Large t
Slide 12: Pantanillo Gold
Pantanillo Gold 6,12 Lobo-Marte ina Chile 9.5Moz Au(6) Pantanillo located in-between the giants, Argent in a belt with a ~100Moz Au endowment. La Pepa For personal use only 16 2.6Moz Au(6) ~22 Km Flagship's Pantanillo has >110km2 Exploitation and ~2 4 Exploration Concessions. Km Volcan ~1 11.1Moz Au
Slide 13: Pantanillo Gold
Pantanillo Gold Column leach test work shows high and rapid gold recovery for oxide mineralisation. For personal use only 17 High gold recoveries were achieved through The column leach test work results derisk and facilitate cyanidation of crushed material Flagship’s next phase of leaching test work
Slide 14: Inventory Growth Plan
Inventory Growth Plan Flagship has a 4 step plan to grow its gold inventory. For personal use only 1. Lowering Cut-off Grade (Underway): • Current QFE cut-off grade is 0.3g/t. • Potential to be lowered to 0.15-0.20g/t Au in line with other projects. • Capturing solid green and blue blocks within cur
Slide 15: Inventory Growth Plan
Inventory Growth Plan Substantial drill intersections under current Pit Shell = Opportunity. For personal use only Flagship Minerals | Metals that Matter 15
Slide 16: Inventory Growth Plan
Inventory Growth Plan Substantial drill intersections under current Pit Shell = Opportunity. For personal use only Flagship Minerals | Metals that Matter 16
Slide 17: Inventory Growth Plan
Inventory Growth Plan Substantial drill intersections under current Pit Shell = Opportunity. For personal use only Flagship Minerals | Metals that Matter 17
Slide 18: Pantanillo - Key Takeaways
Pantanillo - Key Takaways • Advanced oxide gold - amenable to low strip open cut mining and heap leaching. For personal use only • Sits central to six (6) Tier 1 (>5Moz Au) projects representing >65Moz gold. • Measured (~80%) and Indicated (~20%) in QFE. • Conversion to JORC compliant MRE underway.
Slide 19: Rosario Copper Project
For personal use only Rosario Copper Project High Grade Oxide Copper-Silver Flagship Minerals | Metals that Matter 19
Slide 20: Rosario Cu
Rosario Cu Highly prospective, under explored. For personal use only Rosario has all the hallmarks of a low cost high margin oxide copper project. Three distinct prospective trends with a combined strike length of ~15km: • The zones are interpreted to be from 20m wide up to 200m wide, with assays up
Slide 21: Important Information
For personal use only Important Information Flagship Minerals | Metals that Matter 21
Slide 22: Important information
Important information Disclaimer to foreign estimates of mineralisation at the Pantanillo Project is based on and fairly represents information This presentation has been prepared by Flagship Minerals Limited, a Singapore based company with Reg. compiled by Mr David Hobby, and is an accurate represe
Slide 23: Important information
Important information Inc. (Xinhai); 2c. FLG Director David Docherty is a substantial shareholder of Sydney Equities Pty Ltd and Thai Company market capitalisation data and enterprise value calculation is as at 06 February, 2026: Goldfields, see Note 3b for further details; 2d. Citicorp Nominees hol
Slide 24: Important Information - Peer Groups
Important Information - Peer Groups TABLE 1 - PEER GROUP MINERAL RESOURCE COMPARISON DATA Measured Indicated Inferred Total Ref # Company Ticker Project Country Stage Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Moz Au Eq* Fo
Slide 25: Important Information - Peer Groups
Important Information - Peer Groups TABLE 2 - PEER GROUP MINERAL RESOURCE COMPARISON DATA Measured Indicated Inferred Total Ref # Company Ticker Project Country Stage Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Moz Au Eq* Fo
Slide 26: Important Information - Peer Groups
Important Information - Peer Groups TABLE 4 - PEER GROUP AISC DATA AND SOURCE INFORMATION AISC Source Company Ticker Project Country Stage Currency ASIC Date Title & Source For personal use only Section 1 - Growth analogue - AISC Reference Saturn Metals STN (ASX) Apollo Hill Aus. Feasibility A$ 1,85
Slide 27: Important information - Peer Groups
Important information - Peer Groups REFERENCES FOR PEER GROUP TABLES 1 TO 5 18 - Mineros (TSX-MSA): Key Projects: La Pepa - Mineral Resource effective as at 31/10/2021, source document dated 30/06/2024 and titled 'Website - Measured and Indicated Mineral Resources as of June 30, 2024' viewed on 06/0
Slide 28: Important information
Important information RELEVANT ASX RELEASES 08 Jul 2024: RK Lithium Project - RK Property Secured 21 Sep 2022: Bang I Tum Prospect - Exploration Update Readers are advised to refer to the following ASX releases for details and other 24 Jun 2024: RK Lithium Project, 1.5 x 0.5km Li Pegmatite Zone Iden
Slide 29: Metals that Matter.
Metals that Matter. For personal use only ASX: flagshipminerals.com Flagship Minerals | Metals that Matter 29 Copyright 2026 Flagship Minerals Limited. All Rights Reserved.
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