Aspire Mining Limited · ASX:AKM
Aspire Mining — Ignite Investment Summit 2026
22 slides from Aspire Mining's conference presentation, Oct 16, 2026
Slide 1: Developing a World-Class Coking Coal Deposit
rsonal use only Developing a World-Class Coking Coal Deposit Creating shared benefits for all stakeholders Ignite Investment Summit | Hong Kong | October 2026 aspirelimited.com ASX: AKM
Slide 2: Disclaimer
Disclaimer NATURE OF THIS DOCUMENT This presentation has been prepared by Aspire Mining Limited (Aspire or the Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Compa
Slide 3: Near-Term Supply of World-Class Fat Coking Coal
Near-Term Supply of World-Class Fat Coking Coal With construction underway and first coal planned for Q4 2027, Aspire will be China’s next supplier of fat coking coal rsonal use only World-Class Fat Construction Low-Capex Unique Coal That Community Coking Coal for Underway, Real Development Plan Mee
Slide 4: A World-Class Fat Coking Coal Asset in Development
A World-Class Fat Coking Coal Asset in Development Large resource supports a ~31-year operating life and phased growth to 5.0 Mtpa Overview Location Key rsonal use only Ovoot Coking Coal Project Proposed road (Ovoot–Murun) Holding 100% Existing road (Murun–Erdenet) Haul-route aimags Railway JORC Coa
Slide 5: Site Development Is Progressing
Site Development Is Progressing CHPP Camp Infrastructure • Detailed design progressed to • Land-use permits received for rsonal use only 85% Design Review after the mining area, workers' camp, quarter end wastewater treatment plant and • Geotechnical investigations electrical substation completed un
Slide 6: A Low Capital Cost Funding Plan That Limits Dilution
A Low Capital Cost Funding Plan That Limits Dilution Vendor finance and a registered OTC bond program to fund Ovoot; off-balance-sheet funding to fund the Murun-Uliastai Highway (as part of a PPP with the Mongolian Government) rsonal use only Ovoot Mine, CHPP, Equipment, Supporting Infrastructure EP
Slide 7: Meeting the Fat Coking Coal Shortfall in Northern China
Meeting the Fat Coking Coal Shortfall in Northern China Fenwei forecast an 18.1 Mt washed fat coal supply gap by 2029 across five key Target Market Regions rsonal use only aspirelimited.com 7
Slide 8: Fat Coal Scarcity Supports Strong Prices
Fat Coal Scarcity Supports Strong Prices Ovoot’s fat coal is highly sought after for its excellent blending properties with other coals; likely to secure a similar price to Australian HCC rsonal use only Historical Comparative Coal Prices (USD/t inc. VAT)1 Supply Shortfalls Drive Strong Demand2 700
Slide 9: From Early Works to First Coal: Pathway to First Production
From Early Works to First Coal: Pathway to First Production EPC executed, site established and funding underway, with first coal targeted Q4 2027 rsonal use only Progress to Date and Near-Term Catalysts Construction and Site Established PPP Advanced PPP Award Ramp-Up Land-use permits obtained; CHPP
Slide 10: Social Licence Built on Local Benefit
Social Licence Built on Local Benefit Environmentally sensitive development delivering shared prosperity for communities in Khuvsgul rsonal use only Public-use infrastructure The Murun–Uliastai Highway PPP¹ will deliver lasting regional benefits beyond the mine, supporting local residents with impro
Slide 11: Corporate
rsonal use only Corporate ASX: AKM
Slide 12: Board and Management
Board and Management Leadership with Deep Mongolian Coal and Capital Markets Experience ACHIT-ERDENE DARAMBAZAR Executive Chairman SAM BOWLES Chief Executive Officer rsonal use only • Chairman of Mongolia International Capital Corporation (MICC), • 25+ years’ coal mining experience, including 15+ ye
Slide 13: Corporate Overview
Corporate Overview Capital Structure Share Price Performance Share Price (A$) (RHS) Volume (m) (LHS) rsonal use only Unit ASX:AKM 1.2m 0.35 Share Price1 A$/sh. 0.235 1.0m 0.30 Shares on Issue #m 507.6 0.8m Performance Rights #m 6.5 0.6m 0.25 Market Capitalisation A$m 119.3 0.4m 0.20 Cash & Investmen
Slide 14: Why Aspire, Why Now
Why Aspire, Why Now Low-capital pathway, construction underway and near-term catalysts • Site establishment and early construction progressing, with further infrastructure development subject to rsonal use only Development Underway outstanding contractual arrangements, approvals and funding; contrac
Slide 15: For more information please contact us
rsonal use only For more information please contact us Dannika Warburton Investor Relations ir@aspirelimited.com ASX: AKM aspirelimited.com
Slide 16: Appendix: Mining, Processing and Logistics Plan
rsonal use only Appendix: Mining, Processing and Logistics Plan ASX: AKM
Slide 17: Mining: Simple Open Pit with a Low Strip Ratio
Mining: Simple Open Pit with a Low Strip Ratio Truck-and-excavator operation at 6.5 bcm/ROMt, with initial fleet rented to defer capital expenditure rsonal use only Mode Mode Raw Coking Coal Mined Best Practice Sustainable Mining • Low stripping ratio: thick, relatively shallow coal Raw Coking Coal
Slide 18: Processing: Enclosed Plant Built for Yield and Low Impact
Processing: Enclosed Plant Built for Yield and Low Impact 350 tph CHPP with no tailings dam required, designed ready for modular expansion rsonal use only Ovoot Coal Handling and Preparation Plant (CHPP) Modern, High-Efficiency Coal Processing • 350 tonne per hour modular plant: designed to maximise
Slide 19: Transportation: 24-Hour Trucking Circuit
Transportation: 24-Hour Trucking Circuit OCM to ERT | Two-driver relay keeps trucks moving around the clock rsonal use only View animation online here: Watch here aspirelimited.com 19
Slide 20: Logistics: Road to Rail at Erdenet
Logistics: Road to Rail at Erdenet Enclosed transloading onto the Erdenet–Salkhit line, linking Ovoot to the Chinese border rsonal use only Erdenet Rail Terminal (ERT) Transloading onto existing rail to reach markets • Efficient transloading: from road truck to rail wagon the process is fully mechan
Slide 21: Appendix – JORC (2012) Coal Resource and Reserve
Appendix – JORC (2012) Coal Resource and Reserve¹ rsonal use only RESOURCE RESERVE Tonnage Ash CSN Category Tonnage / (Mt) Category (Mt) (%) (#) Proved 76.8 Measured 99.5 18.4 8 Probable 53.3 Indicated 100.9 21.3 7 Total ROM Coal Reserve 130.1 Inferred 19.0 19.2 6 Marketable Coal Reserve 97.9 Total
Slide 22: Ovoot Project Economics
Ovoot Project Economics¹ Financial Summary Forecast Capital Expenditure rsonal use only Unit Value Unit Value NPV10 (post-tax) US$m 1,483.3 Phase 1 – Pre-production US$m 61.2 Real IRR (post-tax) % ~60 Phase 1 – Post-production US$m 88.0 Pre-Production Infrastructure Capital US$m 61.2 Phase 2 – Expan