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ASX: RXL Diggers & Dealers | August 2026 Unlocking Youanmi’s Growth Potential Aspiring to 150kozpa and Beyond
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Diggers & Dealers | August 2026 ASX: RXL 2 Important Information and Disclaimer Important - you must read the following before continuing The following notices and disclaimers apply to this presentation and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation has been authorised for release to the Australian Securities Exchange ("ASX") by the Board of directors of Rox (“Board”). This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. Summary information This presentation contains general and background information about Rox's activities current at the date of this presentation (unless otherwise indicated). The information in this presentation is in summary form and does not purport to be complete nor does it contain all the information in relation to Rox. It should be read in conjunction with Rox's other periodic and continuous disclosure announcements lodged with the ASX at www.asx.com.au. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. Not an Offer This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. Financial information All financial information in this presentation is in Australian dollars unless otherwise stated. Non-IFRS Financial Measures The Company uses certain financial measures to assess how the Project is projected to perform. These financial measures, such as net present value (NPV) and internal rate of return (IRR) (collectively referred to as Non-IFRS Financial Measures) are not recognised under International Financial Reporting Standards (IFRS). The Company considers the Non-IFRS Financial Measures provide useful information about the estimated financial forecasts derived from the DFS, however, they should not be considered in isolation or as a substitute for measures of performance or cash flow prepared in accordance with IFRS. Since the financial forecasts and economic discussion in this announcement are not based on IFRS, they do not have standardised definitions and the way these measures have been derived may not be comparable to similarly titled measures used by other companies. Investors should therefore not place undue reliance on these Non-IFRS Financial Measures. Not investment advice This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include, amongst others, the risk of adverse or unanticipated market, financial or political developments. No Liability To the maximum extent permitted by law, Rox and its related bodies corporate and affiliates, and the respective officers, directors, partners, employees, agents and advisers of Rox and its related bodies corporate and affiliates: (i) disclaim all responsibility and liability (including, without limitation, any liability arising from fault, negligence or negligent misstatement) for any loss, expense, damage or cost arising from this presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this presentation; (ii) disclaim any obligations or undertaking to release any updates or revision to the information in this presentation to reflect any change in expectations or assumption; and (iii) do not make any representation or warranty, express or implied, as to the accuracy, reliability, completeness of the information in this presentation or that this presentation contains all material information about Rox or that a prospective investor or purchaser may require in evaluating a possible investment in Rox or acquisition of shares in Rox, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement. No party other than Rox has authorised or caused the issue of this presentation, or takes any responsibility for, or makes any statements, representations or undertakings in this presentation. Forward-Looking Statements This presentation may include forward-looking statements. Forward-looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “likely”, “nominal”, “conceptual”, “propose”, “will”, “forecast”, “estimate”, and similar expressions. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Rox. Neither the Company, its officers nor any other person gives any warranty, representation, assurance or guarantee that the events or other matters expressed or implied in this presentation (including the forward-looking statements) will actually occur. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statement in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Rox does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward-looking statement is based.
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Diggers & Dealers | August 2026 ASX: RXL 3 Important Information and Disclaimer Production Target The Production Target (and forecast financial information derived from the Production Target) referred to in this announcement is underpinned by Indicated Mineral Resources of approximately 80% and Inferred Mineral Resources of approximately 20% over the DFS mine period. The first four years of the Production Target is underpinned by approximately 89% Indicated Mineral Resources with 11% classified as Inferred Mineral Resources. The total Life of Mine Production Target includes 20% Inferred Resources ounces, 5% Indicated Resource ounces outside of Reserve and the remaining 75% is underpinned by Probable Ore Reserves. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the Production Target itself (or the forecast financial information) will be realised. Competent Person Statements Exploration Results The information in this presentation that relates to Exploration Results is based on information compiled and reviewed by Jonathan Streeter a Competent Person who is a Fellow Member of the Australian Institute of Geoscientists (AIG), GM Geology at Rox Resources and holds performance rights in the Company. Mr Streeter has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Streeter consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. Mineral Resource Statements The statement of estimates of Mineral Resources for the Youanmi Gold Project in this presentation was reported by Rox in accordance with ASX Listing Rule 5.8 and the JORC Code (2012 edition) in the announcement “Underground Resource Increased to 2.1Moz” released to the ASX on 21 July 2025, and for which the consent of the Competent Person Mr Steve Le Brun was obtained. A copy of that announcement is available at www.asx.com.au. Mr Le Brun is the Principal Resource Geologist for the Company and holds performance rights and shares in the Company. Rox confirms it is not aware of any new information or data that materially affects the Mineral Resources estimates information included in that market announcement and that all material assumptions and technical parameters underpinning the Mineral Resources estimates in that announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement. Metallurgical Results The information in this presentation that relates to metallurgical results is based on information compiled and reviewed by Mr Michael Davis a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Metallurgist and Director of MineScope Services Pty Ltd. Mr Davis has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Davis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Ore Reserve Estimate The statement of estimates of Ore Reserves for the Youanmi Gold Project in this presentation was reported by Rox in accordance with ASX Listing Rule 5.9 and the JORC Code (2012 edition) in the announcement “Youanmi Gold Project Definitive Feasibility Study” released to the ASX on 13 November 2025, and for which the consent of the Competent Person Mr Daniel Marchesi was obtained. A copy of that announcement is available at www.asx.com.au. Mr Marchesi is the General Manager - Studies for the Company and holds performance rights and shares in the Company. Rox confirms it is not aware of any new information or data that materially affects the Ore Reserves estimates information included in that market announcement and that all material assumptions and technical parameters underpinning the Ore Reserves estimates in that announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement. Definitive-Feasibility Study The information in this presentation that relates to the Production Target and Definitive Feasibility Study for the Youanmi Gold Project was reported by Rox in accordance with ASX Listing Rules and the JORC Code (2012 edition) in the announcement “Youanmi Gold Project Definitive Feasibility Study” released to the ASX on 13 November 2025, and for which the consent of the Competent Person Mr Daniel Marchesi was obtained. A copy of that announcement is available at www.asx.com.au. Mr Marchesi is the General Manager - Studies for the Company and holds performance rights and shares in the Company. Rox confirms it is not aware of any new information or data that materially affects the information included in that market announcement and that all material assumptions and technical parameters underpinning the production target, and the related forecast financial information derived from the production target in that market announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.
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Diggers & Dealers | August 2026 ASX: RXL 4 Strong Execution to Date with Project Delivery On Time, On Budget. Now Accelerating Growth Aspiration to Grow Towards 150kozpa Gold Production1 Globally recognised, premier gold province Located in the central Youanmi Greenstone Belt within the Southern Cross Province of the Archaean Yilgarn Craton, Western Australia – globally recognised as Australia’s premier gold province Experienced team with proven record Experienced team with proven record in developing Australian gold mines. Vision to deliver sustainable and superior value for our shareholders, employees and communities High-grade reserve and resource Underpinned by a high-grade MRE of 12.1 Mt @ 5.6 g/t Au for 2.2Moz and Reserve of 4.4 Mt @ 4.8 g/t Au for 674koz, both with significant upside Low cost, high margin averaging 117kozpa Low AISC of A$1,978/oz, generating free cash flow of approx. A$2.3 billion pre-tax at DFS gold price of A$5,200/oz. 817koz gold produced over an initial 7 -year Life Of Mine Accelerated, de-risked pathway to first gold Fully funded into production. Ore development advancing, building high-grade ore stockpiles on multiple mining fronts. Mill construction commenced. Organic Growth beyond the DFS mine plan Mine Plan throughput of 900ktpa vs 1,000ktpa nameplate capacity. With proposed infill, extensional and regional drilling, demonstrating potential for increasing production rates and extend life of mine 1. The Company's aspiration to become a +150kozpa gold producer is a strategic objective only and is not a production target or forecast. Achievement of this aspiration is dependent on future resource conversion, exploration success, study outcomes, and other factors. The Company does not yet have reasonable grounds that the aspiration will be achieved.
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Diggers & Dealers | August 2026 ASX: RXL 5 Strong DFS to FID milestone1 1. Refer to ASX announcement titled and dated “Final Investment Decision approved for Youanmi” 17 March 2026 Low-cost, high-margin mine with a strong base plan and significant growth upside Low cost & high margin • Low AISC of A$1,978/oz resulting in a high margin at gold price of A$5,200/oz • Free cash flow of approx. A$2.3 billion pre-tax at gold price of A$5,200/oz • Free cash flow of approx. A$3.0 billion pre-tax at spot gold price of A$6,100/oz • Pre-production capital of A$383 million Average 117koz pa production profile • Production profile of ~117 koz pa – 817 koz gold doré • Produced over an initial 7- year Life Of Mine • Plant metallurgical recovery of 90.8% with fine grind and atmospheric oxidation • 1,000 ktpa Plant capacity and 900 ktpa initial Mine Plan • Aspiration to grow production rates and mine life with further drilling • Mill to have planned stockpile of 190 kt at ~3.3g/t Au prior to commissioning Compelling NPV and IRR • NPV8 A$1.4 billion and IRR 69% (pre-tax), A$1.0 billion and IRR 55% (post-tax) at the base case of A$5,200/oz • NPV8 A$1.9 billion and IRR 93% (pre-tax), A$1.3 billion and IRR 86% (post-tax) at a spot gold price of A$6,100/oz High-grade reserve and resource • Probable Ore Reserve Estimate of 4.4 Mt @ 4.8 g/t Au for 674 koz • Mine plan of 5.7 Mt @ 4.9 g/t Au for 900 koz • Mineral Resource of 12.1 Mt @ 5.6 g/t Au for 2,170 koz Fully funded • A$218 million equity completed • Syndicated Facility of A$300 million plus A$20 million Cost Overrun and A$30 million Bank Guarantee facilities committed by tier one banks • Final Investment Decision achieved 17 March 2026
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Diggers & Dealers | August 2026 ASX: RXL 6 Accelerated delivery of Youanmi Execution-focused, proven development team with strong on-time, on-budget delivery to date Management Changes ✓ Commenced Site Construction ✓ Underground Mining Permits ✓ DFS & A$200m Placement ✓ Construction Permits Approved ✓ Final Investment Decision ✓ Executed Fixed Cost EPC contract ✓ Mill under Construction, Fully Permitted ✓ ✓ Step-Up 35,000m Drill Program ✓ Appointment of Byrnecut ✓ First Cut Fired at Youanmi ✓ EPC contractor engaged ✓ Fully funded with $350m in debt facilities ✓ Open Pit Dewatering Complete ✓ Building High-Grade Stockpiles Growth Aspiration Beyond the DFS Mine Plan Demonstrated development execution to deliver WA’s next gold producer Sep-24 Start of Dewatering ✓ ✓ MRE Upgraded to 2.2Moz 2026 +
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Diggers & Dealers | August 2026 ASX: RXL 7 Building high-grade ore stockpiles • Ore development now underway on two levels, with multiple ore drives • Orebody exhibits strong visual continuity, aligning closely with the geological model • Mining in all 3 declines underway • Mill to have planned high-grade stockpile of 190kt at ~3.3g/t Au prior to commissioning, significantly de-risking ramp up Ore development advancing with multiple high-grade mining fronts 1. Refer to ASX announcement titled and dated “High Grade Drilling Results” 16 July 2026
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Diggers & Dealers | August 2026 ASX: RXL 8 Significantly de-risked pathway to first gold Key Project Milestones Deliverables Drilling Definition, Extension, Growth Camp Construction Design Mill Construction Mill Commissioning Related Infrastructure Construction Dewatering Resource Definition, Growth and Exploration Drilling Processing Plant Construction Phase 1 60 Rooms MDCP Plant & Tails Youanmi Stope ProductionYouanmi Development CY27 Q1 Q2 CY26 Funding and FID Mill construction and commissioning First gold CY25 Operating Q3 Q4Q2 Q3 Q4 DFS Q4 Q1 Ancillary Processing Mining United North Development United North Stope Production Pollard Development Approvals Processing Plant Ground Works Works Approvals Main pit and start of Youanmi UG Underground Dewatering Phase 2 - 240 Rooms and Dry Mess Mill Commission Construction of Tailings Storage Facility, Power Station, Oxygen Facility PV (Solar) Installation Commissioning Ore Stockpile Build - target 190kt at 3.3g/t Au Underground Mining Plant Engineering Drawings and Early Component Orders
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Diggers & Dealers | August 2026 ASX: RXL 9 The Opportunity: Increasing Production Rates & Extending Mine Life • DFS mine plan throughput of 900ktpa vs 1,000ktpa name plate capacity • Latent capacity to process more ore • DFS outlines 817 koz over 7 years vs 2.2Moz Mineral Resource Estimate • DFS is a base case plan • Strong exploration potential • Significant ground holding of under-explored tenements Growth Potential Beyond the DFS Mine Plan The Company’s aspiration is to become a +150kozpa gold producer1 1.The Company's aspiration to become a +150kozpa gold producer is a strategic objective only and is not a production target or forecast. Achievement of this aspiration is dependent on future resource conversion, exploration success, study outcomes, and other factors. The Company does not yet have reasonable grounds that the aspiration can be achieved. 0 50 100 150 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 DFS Base Case Gold Produced (kozpa Au)
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Diggers & Dealers | August 2026 ASX: RXL 10 Demonstrated High-Grade Beyond the Mine Plan Base Mine Plan is the starting point • Surface infill programs ahead of mining completed • Positive results with increased mineralization identified outside of mine plan • United North1 (left), Interceptor (right)2 1. Refer to ASX announcement titled and dated “Drilling identifies high-grade ounces outside of mine plan” 21 April 2026 2. Refer to ASX announcement titled and dated “High Grade Drilling Results” 16 July 2026 • Underground drilling commenced • Nominal 20m x 20m spacing, tighter as required, intent to have +12mths drilled ahead of mining ~ 50,000m program • Deeper program under United North planning underway to start in Q1 FY2027
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Diggers & Dealers | August 2026 ASX: RXL 11 Pipeline to Lift Production & Extend Mine Life Substantial pipeline of near- mine growth targets • Strong opportunities to unlock more potential in the Mine Plan with further planned drilling along strike and down dip • Underground drilling to fast-track reserve conversion across newly accessible high-priority targets • Top 300m of the Resource has greater than 4,000oz/vertical metre • Significant opportunity to increase mining production rate and extend life of mine • Target for early production rate increases and extension to mine life
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Diggers & Dealers | August 2026 ASX: RXL 12 Regional exploration potential – unlocking a large system • Under explored ➢ 2025 Aeromagnetic interpretation identifies previously unidentified structural analogue to Youanmi ➢ Drilling historically focused around Youanmi and Penny • Upcoming works to focus on: ➢ Mapping and reconnaissance of Youanmi Structural Analogue ➢ Drill planning for Hope Prospect ➢ Exploration Incentive Scheme (EIS) co- funded drilling for southern end of Youanmi (Paddy’s to Pollard) ➢ Mineral Resource update for Commonwealth >60km strike on Youanmi Shear Zone
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Diggers & Dealers | August 2026 ASX: RXL 13 Team, Vision, Mission Board of Directors Experienced team with proven record in developing Australian gold mines. Vision to deliver sustainable and superior value for our shareholders, employees and communities. Stephen Dennis Non-Executive Chair Phillip Wilding Managing Director & CEO Nathan Stoitis Non-Executive Director David Boyd Non-Executive Director Management Greg Hoskins CFO & Company Secretary Oliver Keene General Manager - Operations Daniel Marchesi General Manager - Studies Jonathan Streeter General Manager - Geology Alan Rule Non-Executive Director Andrew Shaw-Stuart Exploration Manager
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Diggers & Dealers | August 2026 ASX: RXL 14 Corporate information Notes 1. Cash balance as at 30 June 2026 (refer ASX announcement “Youanmi fully permitted as construction accelerates” dated 13 July 2026) 2. Institutions calculated as at 30 June 2026 Shares on Issue 1,393m Share Price A$0.385 Market Capitalisation A$536m Performance Rights 29.7m Cash and cash equivalents1 A$152.7m Capital structure (31 July 2026) Analyst Coverage Media Coverage 0 5 10 15 20 25 30 35 40 45 50 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Volume (Millions) Share Price (A$) 19.1% 13.4% 12.1% 22.4% 33.0% Other QGold Institutions2 L1 Capital Hawke’s Point
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Diggers & Dealers | August 2026 ASX: RXL 15 Investment highlights • Pre-production and stockpiling commenced • First gold pour mid-2027 • Production ramp up from late 2027 with initial 7-year life-of-mine Production pathway • High-grade ore reserve declared 4.4 MT @ 4.8 g/t for 674koz • Initial mine plan of 5.7MT @ 4.9 g/t for 900koz • Mineral Resource of 12.1MT @ 5.6 g/t for 2.2Moz High-grade resource • Mineral Resource open down dip and along strike • Drilling commenced from underground, more programs in pipeline • Target to increase production rate and mine life with oversized, expandable mill Opportunity to grow and scale • Low AISC A$1,978/oz resulting in high margin @ DFS price of A$5,200/oz • High free cash flows to be generated, resilient to gold price movements Compelling economics • Strong re-rate potential as Youanmi Gold Mine moves through development and construction into production • Equity funding complete, debt committed by multiple Tier 1 banks Re-rate potential
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Thank You ASX: RXL Level 1, 87 Colin Street, West Perth, Western Australia 6005 www.roxresources.com.au rox-resources admin@roxresources.com.au + 61 (8) 9226 0044
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Diggers & Dealers | August 2026 ASX: RXL 17 Low All-In Sustaining Cost and Capital Note: 1. C1 cash cost and AISC are calculated based on gold produced . C1 cash cost includes mining, processing, administration, and accounting adjustments for stockpile movements, and is calculated based on gold produced post construction and commissioning. All-In Sustaining Cost (AISC) per ounce payable includes C1 cash cost, royalties and sustaining capital calculated based on gold produced post construction and commissioning. It does not include corporate cost, exploration cost and non-sustaining capital. 2. Contingency has not been applied to underground mining costs as these have come from direct pricing schedules based on a detailed mine design. LOM C1 Cash Cost and AISC Breakdown1 $1,978 $904 $593 $93 $1,590 $179 $209 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 Mining Processing Site G&A C1 Cash Cost Royalty Sustaining Capital AISC (A$/oz) Pre-Production Capital Costs A$m Processing Facilities 217 Site Infrastructure 17 Underground Mining 28 Tailings Storage Facility 12 Water Management 2 Capitalised Operating Costs 60 Other 32 Contingency2 15 Total Pre-Production Costs 383 Sustaining Capital – Life Of Mine Underground 121 Other 51 Total Sustaining Capital 172
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Diggers & Dealers | August 2026 ASX: RXL 18 DFS Production target $0 $300 $600 $900 $1,200 $1,500 $1,800 $2,100 $2,400 $2,700 $3,000 - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2033 FY 2034 A$/ounceOunces (oz) Ounces Mined and AISC Ounces - Inferred Ounces - Indicated Total AISC Notes: Ounces mined includes the pre-production and commissioning period and AISC is calculated post pre-production and commissioning period.
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Diggers & Dealers | August 2026 ASX: RXL 19 Processing 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 Arsenopyrite • Gold associated with pyrite mostly recovered with Ultrafine Grind • Gold on boundaries of Arsenopyrite, partial oxidation required Comminution (BWi) • 16 kwh/t, only slightly abrasive, typical 3 stage crush, ball mill to P80 75 µm Flotation • Average 91.6% total gold recovery to concentrate • Mass pull only ~9% (of the feed, this is the amount to concentrate) Albion Oxidation – the concentrate • IsaMill ultrafine grind to P80 12 µm • Recovery of gold from Albion Oxidation of 94.0% Cyanide Leach • Conventional leach to recover the gold from the flotation tails and the oxidised concentrate to deliver 90.8% overall recovery Gold bars poured onsite
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Diggers & Dealers | August 2026 ASX: RXL 20 High-grade ore reserve 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 Existing decline to ~600m below surface
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Diggers & Dealers | August 2026 ASX: RXL 21 Plan view and United North section
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Diggers & Dealers | August 2026 ASX: RXL 22 Sections Youanmi Main (Nth) and Prospect