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Building to achieve mid-tier copper and gold production status Anglo Asian Mining plc June 2025
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Disclaimer The information in this document is subject to updating, revision and amendment. This document neither constitutes nor forms nor should be constructed as constituting or forming part of any offer or invitation to sell or any solicitation of any offer to purchase or to subscribe for any securities in Anglo Asian Mining PLC (“Anglo Asian Mining”) or any other body corporate or an invitation or inducement to engage in investment activity under section 21 of the UK Financial Services and Markets Act 2000 nor shall it or any part of it form the basis of or be relied on in connection with any contract therefore. This document does not constitute an invitation to effect any transaction with Anglo Asian Mining nor to make use of any services provided by Anglo Asian Mining. No reliance may be placed for any purpose whatsoever on the information contained in this document nor on assumptions made as to its completeness. No representation or warranty, express or implied, is given by Anglo Asian Mining, any of its subsidiaries or any of its respective advisers, officers, employees or agents, as to the accuracy, fairness or completeness of the information or opinions contained in this document or expressed in the presentation and, no liability is accepted for any such information or opinions (which should not be relied upon) or for any loss howsoever arising, directly or indirectly, from any use of this document or its contents or information expressed in the presentation. The information and opinions contained in this document and the presentation are provided as the date of this document and the presentation and are subject to change without notice. This presentation contains forward-looking statements that are based on Anglo Asian Mining's current expectations and estimates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Factors that could cause such difference include changes in world commodities and equity markets, political developments in Azerbaijan, changes to regulations affecting Anglo Asian Mining's activities and other risks involved in the mining industry. Any forward-looking statement speaks only as of the date on which it is made and Anglo Asian Mining disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein. This presentation has been prepared in compliance with English law and English courts will have exclusive jurisdiction over any disputes arising from or connected with this presentation. The information on reserves and resources included in this presentation has been extracted from the following RNS announcements (a) “Zafar JORC Mineral Resource completed - 6.8 million tonnes of mineralisation with average copper grade of 0.50 per cent.” dated 21 March 2022. (b) “Gilar maiden JORC (2012) Mineral Resource completed” dated 11 December 2023. (c) “Xarxar maiden JORC (2012) Mineral Resource Estimate completed - 25 million tonnes of copper mineralisation at average grades of 0.48 per cent.” dated 20 February 2024. (d) “Maiden JORC Mineral Resource Estimate confirms over 300,000 tonnes of copper (Indicated category) at Garadag” dated 24 September 2024. 2
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A well-established mining company in Azerbaijan with extensive resources transitioning to a multi-asset, mid-tier copper-focused producer Overview Large undeveloped resources Multi-billion-dollar resources to JORC standard of over 400,000 ounces of gold and one million tonnes of copper Highly experienced team Highly experienced and stable team with proven ability to operate in Azerbaijan Brought to production two surface & four underground mines Disciplined approach to funding growth Focused on funding development responsibly, with an emphasis on preserving shareholder value with no significant dilution our investors Long-term track record Company has discovered and brought six mines into production Profitability and cash generation being rebuilt following shutdown Strategy for production growth Clear strategy focused on rapidly expanding production Low-cost operator Company has traditionally operated in the lowest-cost quartile 3
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Board of directors and senior management Highly-regarded board members with excellent relationships in Azerbaijan Reza Vaziri President & CEO Former director Southern Europe and Central Asia of the International Finance Corporation (“IFC”). Oversaw the IFC portfolio of more than US$2 billion, diversified across the financial, oil and gas and mining industries Two terms Governor of New Hampshire, USA Chief of staff to President George H.W. Bush Over 40 years experience in hydrometallurgy and environmental control in mining and metallurgical processes. Acted as a consultant to large mining and chemical companies UK chartered accountant over 40 years. Regional CFO Kinross - Russia Region, CFO Hambledon Mining plc and Bakyrchik Gold plc 20+ years experience in the gold mining industry in Russia / FSU Wealth of financial and directorial experience and former board member of Optima Bank & Trust Head of the foreign relations office at the ministry of the Imperial Court of Iran before moving to the US in 1980 Khosrow Zamani Non-Executive Chairman Governor John Sununu Non-Executive Director Professor John Monhemius Non-Executive Director Bill Morgan Chief Financial Officer and Company Secretary Michael Sununu Non-Executive Director Chartered Geologist with over 30 years of experience in India, CIS, Eastern Europe and Russia Project management expertise from exploration, construction and production Worked in the field since 1985 and constructed process plants including zinc smelters, CIL plants, gold heap leach facilities and managed underground mines Previous roles ranged from co- founder and CEO of Tech Startup to Director of Business Development at an international technology company Stephen Westhead Vice President Farhang Hedjazi Chief Operating Officer Amirreza Vaziri Business Development Director 4
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Ordubad Active – exploration Vejnaly Active – exploration Gedabek Active – production & exploration (Gedabek & Gilar mines) Garadag Active – exploration Xarxar Active – exploration Gosha Active – production & exploration Demirli Active – development & exploration Kyzlbulag Active – exploration Contract areas Eight contract areas with a land area of over 2,500 square kilometres Baku A Z E R B A I J A N 5
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6 Bouncing back and making considerable operational and financial progress Summary of progress over the last 12 months 2024 August • Granted permission to raise wall of the Gedabek tailings dam • Proceeds of Caterpillar loan of $3.7 million received September • Production restarted from the agitation leaching plant • Maiden JORC mineral resources for Garadag published (approximately 900,000 tonnes of copper) November • Production restarted from the flotation plant • First raise of Gedabek tailings dam wall completed • Demirli rehabilitation work and preparation for production ramped up 2025 February • Guidance (excluding Demirli) for 2025 issued (28koz to 33koz gold & 6,500 to 6,800 tonnes copper) April • Announcement of $1.0 million net positive cash inflow for Q1 2025 May • Production commences at Gilar • 2024 full year results issued with no material uncertainties to going concern
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Gedabek area – aerial view of site Currently the main production site and location of the new Gilar mine Gedabek Town ADR and SART plants Agitation leaching and flotation plants Main open pit Tailings DamGilar Mine 7 Arikhdam village
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New Gilar mine entered production in H1 2025 Production has commenced at our new underground mine at Gedabek A strategic development of our current asset portfolio • Located six kilometres from Gedabek’s processing facilities Delivering 2,000 tonnes of ore processed per day • Entered production in May 2025, now ramping up to a monthly production of 50,000 to 60,000 tonnes of ore o Total JORC mineral estimate of 54,000 tonnes of copper and 255,000 ounces of gold • Mining has commenced from Zone 4 o 2.4 million tonnes of 1.5 % Cu and 1.8 g/t AU • 1,461 meters of production drive and 774 metre ventilation tunnel completed High Grade ore from new tunnel Loading ore for delivery to the process facilities Drilling at Gilar mine New Caterpillar Underground mining fleet delivered end of 2023 • Total cost of $4.7 million (3 X R1700 loaders & 2 X 980 UMA loaders) Production tunnels and spiral ramp under construction • Top two levels of mine tunnelling to access approx. one year of production • Ongoing construction of spiral ramp development, ventilation tunnels and infrastructure (stores, refuge stations, workshop, canteen) 8
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Gilar - Underground development Extensive tunnel system constructed at low capital cost Ventilation tunnel Haulage tunnel (1.46km) Ore Zones Surface Topography As-built tunnelling Ramp design to access mineralisation As-built tunnels (01 June 2025) 9
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Demirli - Fast-tracked for production start-up in H2 2025 Previously mined asset with extensive existing infrastructure 10 Contract area acquired in 2022 • A well-developed open pit mine with a 6 million tonne p.a. flotation plant, mining fleet and tailings dam Infrastructure establishment • Offices established with accommodation blocks and canteen facilities • Laboratory facilities up and running Resource definition and startup mining scheduled (58.3Mt @ 0.41% Cu, 240kt Cu) • Various reports, maps, drill logs etc assessed & new geological map prepared • 9,000m RC drilling complete to define startup 5.5Mt ore @ 0.5% Cu Mining Contractors • Blasthole drilling, blasting and mining contractors in place, as well as company teams to supervise exploration, mining geology, mining engineering & planning and survey Plant commissioning ongoing & process team in place for H2 2025 start-up • Water and power supply connected, control systems refurbished and operational, and key equipment has been tested including ore feeder, mills, flotation cells, pumps, valves and pipelines • Tailings dam assessed and good for short term operation • Tailing dam 2 located, and targeting being fully operational during 2026 pending approval Mineral resource potential to double current known resources Process water pond Tailings dam one
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Demirli – open pit and plant Well-developed open pit with plant and supporting infrastructure in situ 11 Panoramic view of flotation plant Flotation cells SAG and ball mills Open pit mine Mining fleet
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Xarxar mineral resource estimate & future Maiden JORC mineral resources published in February 2024 12 Situated close to current operations • Xarxar contract area abuts the northern boundary of Gedabek o Shared logistical infrastructure, staffing and administrative support • JORC mineral resources estimate published in February 2024 o Contains a total in-situ resource of 119,100 tonnes of copper o Further technical studies underway for mine design and process selection o First production planned for 2027/2028 Preliminary work for PFS/FS underway • TerraCore hyperspectral scanning of drill core to assess geometallurgy and identify best method to process the ore • Preparation of a 3-D alteration model & preliminary mine design • Next phase drilling: geotechnical, hydrogeological, rock characteristics • Identification of land allotment for future mining & process infrastructure • Mine equipment supplier support for detailed mine schedule planning Exploration Potential for further copper discovery • Significant exploration potential identified near the Xarxar deposit Xarxar drill core Xarxar drill section
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Garadag mineral resource estimate Garadag: Viewing South Maiden JORC mineral resources published 24 September 2024 13 A long exploration history • Extensively explored both before and after the Soviet era • Significant geological data acquired from the previous owner o 9,645 chemical assays from 23,454 metres of core drilling o Initial mining scoping study including open pit designs and a metallurgical flow sheet • Historic drill core was transferred to the Company Maiden JORC mineral resource estimate published in September 2024 • Total in-situ copper resource of 897,000 tonnes of copper • Two mine design studies carried out o 43 million tonnes of ore (containing 163,000 tonnes of copper) over a 9- year period o 90 million tonnes of ore (containing 307,000 tonnes of copper) over an 18-year period Feasibility study and planned work • Drilling to confirm geotechnical, hydrogeological, metallurgical samples • Open pit optimisation versus underground options • Process technology assessment for copper heap leach, bioleach and SX/EW Garadag deposit viewed from the Shamkir to Gedabek road
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Strategy to become a mid-tier copper and gold producer 14 5 Year objective to become a major copper miner, producing ~ 36,000 tonnes of copper metal p.a. Increase copper production to around 36,000 tonnes of copper p.a. by the sequential opening of new mines • First new mine – Gilar – began production in Q2 2025 • Xarxar and Garadag are scheduled to enter production in 2027/28 and 2029/30 respectively Plan to restart production at Demirli during H2 2025 with potential additional production of up to 15,000+ tonnes copper p.a. Undertake exploration to increase Company’s resources to JORC standard • Xarxar and Garadag JORC mineral resource estimates published • Xarxar and Garadag host 119,000 tonnes of copper and 900,000 tonnes of copper respectively Ensure financing is available to develop the mines and processing facilities • Local banks supportive in the short to medium term • Preliminary discussions started with institutions such the European Bank for Reconstruction and Development (EBRD) • ESG is being strengthened to ensure best practice, Now ESG Certified by independent group, Digbee Anglo Asian Mining has never diluted shareholders to fund new projects
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Over one million tonnes of copper and 400,000 ounces of gold* An exploration programme is underway to increase the resources and reclassify them from Inferred to Indicated to Measured PLUS Significant exploration upside of known mineral occurrences and targets in 8 contract areas Deposit or mine Copper (tonnes) Gold (ounces) Inferred Measured and indicated Total Inferred Measured and indicated Total Legacy** 392 18,376 18,768 4,000 80,000 84,000 Gilar 1 53,390 53,391 4,000 251,000 255,000 Zafar 3,000 25,000 28,000 9,000 64,000 73,000 Xarxar 12,800 106,300 119,100 - - - Garadag 592,600 304,300 896,900 - - - TOTAL 608,793 507,366 1,116,159 17,000 395,000 412,000 * As at 1 January 2025; does not include any resource for Demirli. **Gedabek open pit and underground mines and Gadir underground mine. 15 Gold doré Copper concentrate
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Awarded Inaugural ESG Rating – Digbee ESG • Digbee assembled an independent team of suitably qualified Mining ESG experts to manually review the Anglo Asian submission against a set of rigorous and standardised scoring criteria. • These scores were then peer reviewed before being finalised to ensure accuracy and credibility. • Responsible operational management and sustainability leadership are central to Anglo Asian’s long-term growth strategy. An expert panel of globally recognised sustainability professionals awarded Anglo Asian an overall BB rating for both its corporate-level sustainability performance and that of its Gedabek asset Anglo Asian Mining plc’s overall ESG rating as of April 2025 16
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A well-established mining company in Azerbaijan with extensive resources transitioning to a multi-asset, mid-tier copper-focused producer Investment case Large undeveloped resources Multi-billion-dollar resources to JORC standard of over 400,000 ounces of gold and one million tonnes of copper Highly experienced team Highly experienced and stable team with proven ability to operate in Azerbaijan Brought to production two surface & four underground mines Disciplined approach to funding growth Focused on funding development responsibly, with an emphasis on preserving shareholder value with no significant dilution our investors Long-term track record Company has discovered and brought several mines into production Profitability and cash generation being rebuilt following shutdown Strategy for production growth Clear strategy focused on rapidly expanding production Low-cost operator Company has traditionally operated in the lowest-cost quartile 17
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Transitioning to mid-tier mining status Anglo Asian Mining plc