Greatland Resources Limited · ASX:GGP
Greatland Resources — Q4 2025 Earnings Presentation
27 slides from Greatland Resources's earnings presentation, Jan 28, 2026
Slide 1: A New Australian Gold-Copper Producer
For personal use only A New Australian Gold-Copper Producer 100% owner of Havieron and Telfer December 2025 Quarter Presentation 28 January 2026
Slide 2: Disclaimer
Disclaimer The summary information contained in this document has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Greatland Resources Limited (together, Greatland or Company). This do
Slide 3: Important Information
Important Information Production Target The information in this presentation that relates to the Feasibility Study for the Havieron Project (FS) and its outcomes, and the FS Life of Mine Production Target (and the forecast financial information derived from the Production Target) are extracted from
Slide 4: Results and performance highlights
For personal use only Results and performance highlights
Slide 5: December Quarter 2025 Results
December Quarter 2025 Results Production Sales Cash & Finance For personal use only Production of 86.3koz Au and 3.5kt Cu at Sales of 72.2koz Au and 3.3kt Cu at Operating cash flow of $406m (Sep Q: $284m) AISC of $2,196/oz average realised price of $6,301/oz Cash balance of $948m (Sep Q: $750m) FY26
Slide 6: December 2025 Quarter Results
For personal use only December 2025 Quarter Results
Slide 7: Operations - Mining
Operations - Mining December quarter ore mined to mill from open pit of 2.36Mt at 0.58g/t Au and underground of 0.24Mt at 1.65g/t Au Mining Areas (Dec Q 2025) Ore Mined to Mill and Dump Leach kt Open Pit Ore Mined (Mill Feed) For personal use only 0.64 0.8 4,000 0.59 0.60 0.58 0.6 3,000 2,611 2,363
Slide 8: Operations - Processing
Operations - Processing Production of 86.3koz Au and 3.5kt Cu, with gold recovery of 88.4%, maintaining the high recovery from last quarter Ore Milled (kt) and Head Grade (g/t Au) Summary kt g/t Au ▪ 4.51Mt processed with average head grade of 0.65g/t Au & 0.10% Cu For personal use only 7,500 0.68 0
Slide 9: Costs, AISC and Average Realised Price
Costs, AISC and Average Realised Price December quarter AISC of A$2,196/oz, AISC margin of over $4,000 per ounce AISC Cost Buildup (A$m) Average Realised Price and AISC (A$/oz) AISC For personal use only Costs (A$m) Average Realised Price and AISC (A$/oz) $6,301 260 6,500 191.7 189.5 240 6,000 174.5
Slide 10: Cash flow and Finance
Cash flow and Finance $406m operating cash flow and closing cash of $948m at end of December quarter Dec Q 2025 Cash Flow Dec Q 2025 Financials Au Sold Cu Sold Net Revenue Operating CF For personal use only (34.0) 1,109.3 72,212oz 3,301t $507m $406m (13.2) 948.3 (80.9) 406.5 (23.4) (10.6) Au realise
Slide 11: Significant progress of planned growth capital initiatives
Significant progress of planned growth capital initiatives Key investments in Telfer life extension well underway Growth Initiatives Dec Q 2025 Results Telfer Growth Capital For personal use only ▪ TSF8 Stage 3 lift substantially complete TSF8 Stage 3 and 4 lifts ▪ TSF8 Stage 4 lift scheduled to com
Slide 12: Havieron Feasibility Outcomes
For personal use only Havieron Feasibility Outcomes
Slide 13: Havieron Feasibility Study - Summary
Havieron Feasibility Study - Summary A world-class Australian gold-copper asset Lowest quartile cost Large scale For personal use only Long life Initial FS mine life of Steady state avg. AISC of Life of mine production of 17+ years, inc. 9 years A$1,610/oz 1,3 under 4.0Moz AuEq 1,5 steady state 1 Ha
Slide 14: Havieron Feasibility Study - Financial outcomes
Havieron Feasibility Study - Financial outcomes – Havieron Standalone base case Outcomes under the conservative ‘Havieron Standalone’ base case operating cost model that assumes no extension of the current Telfer mine life A$4,500/oz Long Term Gold A$6,250/oz Spot Gold For personal use only Free Cas
Slide 15: Havieron Ore Reserve
Havieron Ore Reserve Australia’s largest underground reserve outside of a Major, at a conservative A$2,500/oz gold price Moz AuEq1 Grade (g/t AuEq) 1 For personal use only 25 24.6 7.30 8.00 5.1 6.70 5 6.40 7.00 5.27 5.37 5.30 6.00 4 3.7 4.80 4.70 4.54 5.00 3.2 3.0 3.90 3.70 3 4.00 2.98 4.20 2.4 3.00
Slide 16: A foundation asset to create a significant asset portfolio
A foundation asset to create a significant asset portfolio Steady state Havieron would be the 6th largest current ASX primary listed Australian gold mine at 2nd lowest AISC (relative to FY26 guidance) AISC (A$/oz) ASX-listed Australian Gold Mines Cost Curve (FY26 Guidance) Production (koz Au) 3,500
Slide 17: Telfer Resource Development
For personal use only Telfer Resource Development
Slide 18: Telfer Resource Development – West Dome Open Pit
Telfer Resource Development – West Dome Open Pit December quarter drilling focused on Stage 7 and Stage 2 extension, two key cutback opportunities that target multi-year extension of the West Dome Open Pit Stage 7 For personal use only ▪ Extension of existing Stage 7 cutback towards the north ▪ Expe
Slide 19: Telfer Resource Development – Main Dome Underground
Telfer Resource Development – Main Dome Underground December quarter MDU drilling of 7,606m focused on resource conversion at A Reef and Eastern Stockwork Corridor (ESC), resource growth at Kylo Growth - Kylo ▪ Drilling continued following impressive For personal use only results in Sep Q ▪ Signific
Slide 20: Telfer Resource Development – West Dome Underground
Telfer Resource Development – West Dome Underground A large, new mineralised system emerging at Telfer with outstanding growth potential WDU ▪ Extensional drilling and increasing drill density has For personal use only improved understanding of the WDU, with three mineralised domains now confirmed:
Slide 21: Telfer Resource Development – West Dome Underground (cont'd)
Telfer Resource Development – West Dome Underground (cont’d) December quarter drilling at West Dome Underground (WDU) delivers the highest grade results yet WDU ▪ Two underground diamond drill rigs operated throughout the For personal use only quarter, with a third rig now allocated to accelerate dr
Slide 22: Conclusion
For personal use only Conclusion
Slide 23: December Quarter 2025 Summary and Outlook
December Quarter 2025 Summary and Outlook Production Cash Flow FY26 Guidance Havieron Resource Growth Mine Life For personal use only 167,163oz produced Operational cash flow Trending towards the Feasibility Study Telfer infill drilling will Updated MRE and at AISC of $2,176/oz in of $406M in the to
Slide 24: For further information
For personal use only For further information info@greatland.com.au https://greatland.com.au Muddled 'X' rebrand of Twitter kills the blue bird | Marketing Mag
Slide 25: Appendix - Australia Underground Mines and Projects Ore Reserve
Appendix - Australia Underground Mines and Projects Ore Reserve Contained ORE Contained Mine / Tonnage Gold Grade Copper Grade Contained Gold ORE Grade Company Copper Gold Source Project (Mt) (g/t Au) (% Cu) (Moz) (g/t AuEq) (Kt Cu) (Moz AuEq) Newmont Newmont 2024 Mineral Reserves 20 February 2025.
Slide 26: Appendix - Australia Underground Mines and Projects Ore Reserve (cont'd)
Appendix - Australia Underground Mines and Projects Ore Reserve (cont’d) Contained ORE Contained Mine / Tonnage Gold Grade Copper Grade Contained Gold ORE Grade Company Copper Gold Source Project (Mt) (g/t Au) (% Cu) (Moz) (g/t AuEq) (Kt Cu) (Moz AuEq) Northern ASX Announcement 15 May 2025 “Annual M
Slide 27: Appendix - Australian Gold Mines FY26 Production and AISC Guidance
Appendix - Australian Gold Mines FY26 Production and AISC Guidance Gold Production AISC Mine Company Source (koz Au) (A$/oz) Karlawinda Capricorn Metals 120 1,580 ASX Announcement 6 October 2025 “KGP on track for FY26 Guidance” Havieron Greatland Resources 266 1,610 ASX Announcement 1 December 2025