#1ASX Announcement 2 December 2020 GOLD ROAD RESOURCES Company Announcements Platform ASX Limited 20 Bridge Street SYDNEY NSW 2000 ASX Code GOR ABN 13 109 289 527 Dear Sir/Madam Investor Presentation - December 2020 In accordance with Gold Road Resource Limited's Continuous Disclosure Policy, enclosed is a copy of the Investor Presentation which is being released to the ASX Market Announcements Platform ahead of the December 2020 investor briefings. This release has been authorised by the Managing Director & CEO. Yours faithfully Gold Road Resources Limited COMPANY DIRECTORS Tim Netscher Chairman Duncan Gibbs Managing Director & CEO Justin Osborne Executive Director, Discovery & Growth Brian Levet Non-Executive Director Sharon Warburton Non-Executive Director Maree Arnason Non-Executive Director Hayden Bartrop Company Secretary CONTACT DETAILS Principal & Registered Office Level 2, 26 Colin St West Perth WA 6005 www.goldroad.com.au [email protected] T +61 8 9200 1600 F +61 8 6169 0784 Hayden Bartrop Company Secretary For further information, please visit www.goldroad.com.au or contact: Gold Road Resources Duncan Gibbs Managing Director & CEO Duncan Hughes Manager Corporate Development & Investor Relations Tel: +61 8 9200 1600 Media Enquiries Peter Klinger [email protected] Cannings Purple Tel: +61 411 251 540 DELIVERING VALUE ግድ ASX AUSTRALIAN STOCK EXCHANGE#2DELIVERING VALUE INVESTOR PRESENTATION DECEMBER 2020 GOLD ROAD RESOURCES KOMATSU HOM SU KOM 97746 RKING WITHIN METRES 830 יכול Downer#3DISCLAIMER IMPORTANT NOTICES Nature of this document: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the 'Company'). Unless otherwise stated herein, the information in this presentation is based on the Company's own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available at www.goldroad.com.au or www.asx.com. Not an offer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. Not financial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company's Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company's securities or any other financial products. Forward-looking statements: Certain statements in the presentation are or may be "forward-looking statements" and represent the Company's intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company's future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company's actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Relevant factors which may affect the Company's actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel. Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company. GOLD ROAD RESOURCES PAGE | 2#4CORPORATE PROFILE BOARD OF DIRECTORS Tim Netscher Duncan Gibbs Justin Osborne Sharon Warburton Non-Executive Chairman Managing Director & CEO Executive Director - Discovery & Growth Non-Executive Director Non-Executive Director Non-Executive Director Brian Levet Maree Arnason Hayden Bartrop Company Secretary SHAREHOLDERS CAPITAL STRUCTURE ISSUED SHARES MARKET CAP CASH & EQUIVALENTS 880M¹ PERFORMANCE RIGHTS 7M1 A$1,100M² $US812M4 A$103M1 US$76M4 DEBT DRAWN (OF $250M FACILITY) Debt fully repaid on 21 July 2020 nil nil HEDGING 79.2 koz at A$1,853/oz¹ US$1,3684 ORE RESERVES 1.9 Moz³ MINERAL RESOURCE 3.6 Moz³ 2% 34% 12% ■North America ■Retail ■Broker/Advisors ■ UK & European Instos Australian Instos 16% ■ Other 2% Board & Management Rest of World 1% 1% 32% ANALYST RESEARCH SUBSTANTIAL SHAREHOLDERS Argonaut Bell Potter Van Eck Vanguard 12% 5% Canaccord Hartleys JP Morgan INDICES ASX200, GDXJ, MSCI, GDX Macquarie RBC Baillieu GOLD ROAD 1 As at 30 September 2020, debt was fully repaid on 21 July 2020 2 As at 27 November 2020, based on A$1.25 per share RESOURCES 3 Gold Road Attributable 4 FX: 1AUD = US$0.74 PAGE | 3#5DELIVERING VALUE FOR FOR SHAREHOLDERS Gold Road a Low Risk Cash Generator with Upside ☐ Low risk: Long life, high margin & consistent cash flow generation Low risk: Debt free with a strong and growing balance sheet ■ Growth and returns opportunity through exploration upside and strong cash flow Gruyere A Tier One Gold Producer ■ Long life, low cost production at Tier 1 gold mine¹ 11 year mine life averaging ~300 kozpa*2 Meekatharra ☐ 3.7 Moz Reserve, 6.6 Moz Resource*2 Perth YANDINA PROJECT First year's production of 230,590 oz*, AISC of A$1,155/oz (US$850/oz)³ 50:50 JV partner Gold Fields a proven global miner Lake Grace o Successful Explorer in Undercover and Underexplored Belts ■ Extensive (~4,500 km²) and prospective Yamarna exploration tenements (100%) Yandina Project (~85%) an underexplored Greenstone belt in SW Yilgarn LAKE GRACE JV Wiluna Laverton Leonora Kalgoorlie Southern Cross YANDINA JV *100% basis, FX: 1AUD = US$0.74 1 Refer to ASX announcement dated 6 December 2019. Tier 1: Greater than 10 year mine life; greater than 300,000 ounces per annum; greater than 3.5 million ounce Ore Reserve and costs at the lower end of the cost curve 2 Refer to ASX announcement dated 12 February 2020 - Gruyere JV only - excludes 0.3Moz of 100% Gold Road Resources. 3 Refer to ASX announcement dated 24 June 2020. Production on 100% basis from 30 June 2019, AISC attributable to Gold Road sold ounces post commercial production (30 September 2019) 4 Joint Venture with Cygnus Gold whereby Gold Road owns 89% interest in Yandina JV and 85% interest in Lake Grace JV. Refer ASX announcement 24 July 2020 YAMARNA PROJECT GRUYERE JV GOLD MINE PAGE | 4#6We care for the well being of all OUR STRATEGY We act with integrity Discover gold resources that transform the company Build and maintain a project pipeline for growth We deliver ៨៦៦ We innovate to improve Operate safely and care for our people, stakeholders & environment We work as one team Position Gold Road as an ESG market leader GOLD ROAD RESOURCES DISCOVERY U ESG GRUYERE DELIVER SHAREHOLDER VALUE Deliver world class operating performance Grow margins and mine life Value accretive transformational M&A CORPORATE DEVELOPMENT Grow & Diversify production base Quality, low risk assets ORGANISATIONAL CAPABILITY People and business systems to support the strategy Capital management, strong liquid balance sheet, cash flow for growth and returns PAGE | 5#7BUILDING AN ESG LEADER FIRST SUSTAINABILITY REPORT FOR CY2020 ■ Aligned to ASX corporate governance principles & utilising GRI standards Full calendar year of operational baseline data Incorporating operation and exploration performance GRUYERE ISO 45001 Safety Certification - Strong safety record - LTIFR of 0.99 Cyanide Code Compliant - obtaining ISO 14001 Environmental Certification Low risk downstream tailings storage facility - water supply from saline aquifers Low emissions gas power generation - evaluating PV / BESS to augment powerhouse Native Title Agreement - positive community impacts, creating employment and business opportunities YAMARNA Yamarna Solar plant commissioning Dec 2020 quarter Strong safety and environmental focus#8GRUYERE GOLD MINE A TIER ONE GOLD PRODUCER OFFICES LAYDOWN AREA POWERHOUSE COARSE ORE STOCKPILE ROM PRE-LEACH THICKENERS GRINDING 15MW SAG & BALL MILL LEACH & CIL TANKS SETTLING POND#9GRUYERE UNLOCKING QUALITY Simple Open Pit Mining ■ Low strip ratio of 2.7:1 STAGE 1* Q4 2018 Q1 2021 DEPLETION TO EOY 2019 Waste (Mt) 17.4 2019 Mined 2019 2019 STAGE 3 Processed ROM Stocks Ore (Mt) 14.9 Q2 2020 Q2 2025 Waste (Mt) 6.9 Grade (g/t) 1.06 Ore (Mt) 6.7 3.3 3.4 Contained Au (Moz) 0.51 Waste (Mt) 49.3 Grade (g/t) 0.87 1.05 0.7 Strip Ratio (W:O) 1.17 Ore (Mt) 15.8 Contained Au (Moz) 0.19 0.11 0.08 Grade (g/t) 1.32 *Un-depleted - Refer to Depletion to EOY2019 Contained Au (Moz) 0.67 Strip Ratio (W:O) 3.13 ■ ~ 9,250 oz per vertical metre Simple Processing ■ Gravity CIL processing circuit ■ Overall recovery 91-94% STAGE 2 Q1 2020 Q3 2023 ◉ Gravity recovery 35-40% Waste (Mt) 30.2 Ore (Mt) 18.4 Grade (g/t) 1.14 Contained Au (Moz) 0.68 Strip Ratio (W:O) 1.64 Mining Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 2020 2021 2022 2023 2024 STAGE 4 Q1 2022 - Q4 2026 Waste (Mt). 69.7 Ore (Mt) 14.4 Grade (g/t) 1.12 Contained Au (Moz). 0.52 Strip Ratio (W:O) 4.83 900m 385m 1,830m STAGE 5 Q1 2023 Q3 2029 Waste (Mt) 85.7 Ore (Mt) 26.7 Grade (g/t) 1.34 Contained Au (Moz) 1.15 Strip Ratio (W:O) 3.21 GRUYERE PIT STAGES PAGE | 8#10GRUYERE - SEPTEMBER QUARTER SUMMARY Operation (100% basis) Unit Sept 2020 Qtr June 2020 Qtr CYTD3 ■ 55,919 ounces produced* at attributable AISC of A$1,488/oz 2 " Plant availability at 87% Transitioning to fresh rock ore Gold recovery of 91.5%, grade in line with expectations Ore stockpiles unchanged at 3.2 Mt @ 0.7 g/t Au Gold Road sold 31,480 ounces at A$2,420/oz² ~73% at spot ~27% hedged at average contract price of A$1,790/oz 1,811 ounces of bullion and dore held Ore Mined Waste Mined Strip Ratio Grade Ore milled Head Grade kt 1,859 2,125 5,821 kt 5,688 3,825 12,296 W:O 3.06 1.80 2.11 g/t 1.03 1.06 1.05 kt 1,889 2,187 6,002 g/t 1.03 1.06 1.05 Recovery % 91.5 93.1 92.9 Gold Produced** OZ 55,919 71,865 187,379 Cost Summary (GOR) Mining A$/oz 150 158 163 Processing A$/Oz 579 461 516 G&A A$/oz 118 109 106 Ore Stock & GIC Movements A$/oz (33) 3 2 By-product Credits A$/oz (4) (2) (2) Cash Cost A$/oz 811 728 784 Royalties, Refining, Other A$/oz 86 86 83 Rehabilitation¹ A$/oz 19 16 18 ■ Quarterly free cash flow of A$48.7M (underlying free cash Sustaining Leases A$/Oz 114 93 102 flow of A$22.2M before sale of investment) Sustaining Capital & Exploration A$/oz 458 309 289 All-in Sustaining Costs A$/oz 1,488 1,233 1,276 ■ Quarterly CAIC of A$1,897/oz Sales (50% share)² Gold Sold Average Sales Price *100% basis unless otherwise stated. ¹Rehabilitation includes accretion and amortization | 2Gold Road's 50% share | ³Calendar financial year 2020 Refer to ASX announcements dated 24 July and 23 October 2020. **Production after GIC adjustments Unit Sept 2020 Qtr June 2020 Qtr CYTD3 OZ 31,480 A$/Oz 2,420 28,700 2,498 91,880 2,300 PAGE | 9#11GRUYERE MINE 2020 GUIDANCE ■ 2020 Annual Guidance¹ KOMATSU 250,000-270,000 ounces (100% basis) AISC A$1,250-A$1,350/oz attributable December Quarter guided as higher production & lower cost ☐ ■ Plant throughput on fresh rock improved with SAG configuration changes Mine to mill optimisation initiated. Pebble crusher improvements Ball mill fully operational, no further issues anticipated HOM YSU KING UNAUTHORISED NETRES KOM ■ Second mining fleet established TSF lift substantially complete No material COVID-19 impact GOLD ROAD RESOURCES *Gold Road attributable AISC. FX: 1AUD = US$0.71 1 Refer to ASX announcement dated 24 September 2020 97746 830 Downer PAGE 10#12STRONG BALANCE SHEET ENHANCED LIQUIDITY AND DEBT FREE Cash and equivalents of A$103M at 30 September 2020 Debt fully repaid with final debt repayment of $25M during the quarter ☐ Hedged circa 20-25% of production until November 2022. Hedge book is 79,195 ounces at A$1,853/oz A$26.5M realised from sale of listed investment for $17.2M profit before tax Undrawn debt facility of A$250M after second tranche of A$150M secured to support potential growth opportunities MOVEMENT IN CASH & EQUIVALENTS SEPTEMBER 2020 $180 $160 $140 $120 $109 A$m E $100 $50 -$14 -$25 $103 -$7 -$2 -$5 -$3 $80 $60 $40 $20 $0 Operating Cashflow Debt Repaid Corporate Change in Cash Equiv. Cash & Equiv. (Jun) Sustaining Capex Exploration Finance/Leases GOLD Cash & Equiv. (Sept) PAGE | 11 ROAD RESOURCES* Cash & Equivalents represents Cash, Bullion and Investments. FX: 1AUD = US$0.71#13CAPITAL MANAGEMENT CAPITAL MANAGEMENT FOR GROWTH & RETURNS Maintain a strong liquid balance sheet Ensure capacity to fund new mine development Or Invest in value accretive opportunities DIVIDEND POLICY IN PLACE ■ Target an annual aggregate dividend payout of 15%-30% of free cash flow for each calendar year in two half yearly payments* Subject to a minimum net cash balance of A$100M (after payment of any dividend) ■ A$65.7M in Franking Credits¹ ■ ■ Anticipate inaugural dividend declared for 6 month period ended 31 December 20202 Dividend reinvestment plan to be established *Gold Road determines free cash flow as cash flow before debt and dividends. The Dividend Policy maintains the absolute discretion of the Board of Directors in relation to the declaration of any dividend. Refer to ASX announcement dated 16 September 2020 for further details 1 As at 31 December 2019 2 Subject to the Board's discretion. For clarity, the inaugural dividend will be calculated by reference to the free cash flow for that six month period ROAD PAGE 12#14560.000 mE GRUYERE JV 580 000 mE Renegade 40 koz MR 100% OWNED GOLD ROAD Main Access Road from Great Central Road to Gruyero Mino GRUYERE JV UNLOCKING GROWTH Measured & Indicated Resource growth of 29% to 6.1 Moz¹ M&I ounces increased by 1.2 Moz M&I grade increased to 1.32 g/t Au 2020/21 focus on growing Gruyere JV 3.7 Moz Reserve ☐ Convert M&I Resource into Reserve Grow Reserve through optimised economics - 2020/21 Golden Highway ☐ Resources -0.7 Moz maintained Reserves 0.3 Moz maintained Alaric 46 koz OR 117 koz MR Montagne 66 koz OR 130 koz MR Argos 18 koz OR 84 koz MR Orleans 53 koz MR Attila 178 koz OR 311 koz MR Exploration Camp 25 km Gruyere Mine Village Sealed Airstrip Central Bore UG 101 koz MR Gas Pipeline Resource & Reserve Category Tonnes Grade (g/t Moz (100% basis) (Mt) Au) Au M&I Mineral Resource (M,I) 144 1.32 6.12 Total Mineral Resource (M,I,I) 154 1.34 6.62 Gilmour UG 130 koz MR Gilmour OP Ore Reserve (P,P) 93 1.24 3.72 1 100% Basis. Refer to ASX announcement dated 12 February 2020 130 koz MR e Dumps & gs Storage Gruyere 3.4 Moz OR 5.8 Moz MR Processing Plant YAM14 33 koz MR#15GRUYERE MINE OPTIMISATION GROWING A HIGH MARGIN OPERATION Gruyere Joint Venture is focused on optimising: Mining Plant Extended Indicated Resource below mine design. Geotechnical and metallurgical studies for potential pit deepening in progress Process plant (SAG mill) configured for fresh ore. Capability to be determined over next ~6 months. SAG mill confirmed as main throughput constraint Powerhouse upgrade. Additional gas power generation augmented by solar and battery (studies underway) S 50,000 mN December 2019 End December 2019 OR Stage 5 Design - A$1,600 Open Pit Survey -9,400 mRL -9.200 2018 Indicated boundary: OR constrained -9.000 2019 Indicated boundary: -8.800 -8,600 mRL -8,400 mRL available for OR evaluation GOLD ROAD 15GY0107 164 m at 1.60 g/t Au RESOURCES GRUYERE JOINT VENTURE Gruyere Gold Deposit South to North Long Projection. GOLD ROAD RESOURCES Note: Refer to ASX announcement dated 9 September 2019, 12 February 2020 and 24 July 2020 51,000 mN December 2019 N MR Pit Shell - A$1,850 Northern Fault 500m Cover Oxide Saprock & Transition Fresh Rock 19GY0365 41 m at 2.52 g/t Au 19GY0366 42 m at 1.40 g/t Au Resource Category Measured Indicated Inferred Unclassified MR Mineral Resource OR Ore Reserve PAGE | 14#16MEANINGFUL DISCOVERY Discover gold resources that transform the company Build and maintain a project pipeline for growth GOLD ROAD PESOURCES HL900-#17EXPLORATION STRATEGY OF MEANINGFUL DISCOVERY Targeting 100% owned operation to add 150 kozpa Exploring for >1 Moz discoveries on 100% ground Strategy aligned to a discovery that 'moves the dial' Focus on high priority targets in Southern Project Area Yamarna offers a unique opportunity, combining An under-explored 'frontier' greenstone belt Favourable global mining jurisdiction of Western Australia Development optionality with Gruyere ■ Stage gate approach to exploration investment GOLD ROAD RESOURCES Milestone 1 Milestone 2 Milestone 3 Target Generated Anomaly Definition Anomaly Generated Framework Drilling Target Defined Definition Drilling Milestone 4 Milestone 5 Ore Reserve Mineral Resource Dofinition Driling and Studies Grado Control Drilling and Studios Gruyere 0 5 10 km Q1 Drilling DDH AC Q2 & Q3 Drilling Hirono Gilmour Kingston Note: Refer to ASX announcement dated 12 February & 10 September 2020 DDH RC AC Savoie / Beefwood PAGE | 16#18EXPLORATION SOUTHERN EXPLORATION TARGETS Southern Project Area (800 km²) ☐ Revised geology and targeting completed in 2019 & 2020 ■ Area of greatest exploration prospectivity ☐ Limited prior exploration ~75% of A$26M (US$19M) 2020 budget* High priority 2020 targets include Kingston: First diamond hole intersected 1m at 10.4g/t Au Hirono: Multiple aircore anomalies identified Gilmour Gilmour Sth ☐ Savoie and Beefwood: Large regolith anomalies identified - drilling in progress Hirono Gilmour and Gilmour South: More high-grade gold at Gilmour and access to Gilmour South GOLD ROAD RESOURCES Note: Refer to ASX announcement dated 12 February 2020, 7 April 2020, 10 September 2020 and 24 July 2020 *Gold Road share $25.5M Kingston Savoie PAGE | 17#19EXPLORATION KINGSTON, SAVOIE & BEEFWOOD Smokebush Shear +4km GOLD ROAD Note: Refer to ASX announcement dated 10 September 2020 RESOURCES 20LSDD0001 1.0m at 10.39 g/t Au Kingston Landmark ...... +8km Beefwood A Beefwood +8km Savoie 2 km#20SOUTHERN PROJECT AREA GILMOUR RESOURCE - 258,000oz Resource of 2.6 Mt at 3.09 g/t Au for 258,400 oz (100% Gold Road) Open pit: 129,100 oz at 2.21 g/t Au Underground: 129,300 oz at 5.13 g/t Au Indicated: 120,000 oz at 5.2 g/t Au (46%) Initial metallurgical test-work SE 500 mRL 6,864,800 mN 2 m at 74.98 g/t Au 400 mRL November 2019 MR Stope Outlines - A$1,850 6,865,000 mN 20WDDD00048 6.25 m at 1.15 g/t Au & 1.70 m at 4.13 g/t Au folded veins • 89-90% overall recovery 28-82% gravity recovery Development Alternatives 300 mRL 1 m at 31.98 g/t Au 200 MRL 100 mRL ■ Potentially part of future standalone operation 0 MRL ■ Alternative is to toll treat - 55 km from Gruyere GOLD ROAD Note: Refer to ASX announcement dated 4 December 2019 RESOURCES Milestone 4 Pink Fault A 0.97 m at 38.52 g/t Au 6,865,200 mN 6,865,400 mN NW (330°) 5 m at 8.42 g/t Au November 2019 MR Pit Shell A$1,850 0.62 m at 73.03 g/t Au Host Rock Toppin Hill Mid Conglomerate 400 m Note: Refer to ASX announcement dated 4 December 2019 and 10 September 2020 19WDRC0242 Cover 6.78 at 5.33 g/t Au folded veins. Bedrock 4.00 m at 16.58 g/t Au Bedrock Main Lode Potential Extension to Existing (true width 2.0m) Bedrock Fresh Bedrock MR Waters Fault 19WDRC0241 2.20 at 2.51 g/t Au Main Lode (true width 1.25m) Au g/t - <0.01 0.01 0.3 0.3-1.0 1.0-2.0 2.0-3.5 3.5-5.0 5.0-10.0 10.0 30.0 30.0+ Hole Type RC Diamond Resource Category Measured Indicated Inferred Unclassified MR Mineral Resource OR Ore Reserve PAGE | 19#21SOUTH-WEST YILGARN YANDINA PROJECT Lake Grace JV and Yandina JV (~85%)¹ ■~3,400 km² project area ☐ Underexplored Greenstone belt Targeting crustal scale shear zones 2020 Activity ■ Becoming Operator ■Completed 20,000m aircore drilling programme ☐ 8,500m aircore, 750m RC and 500m DD programme underway 634000mNO 633000 GOLD 650000mE ROAD RESOURCES Reeno LGAC0181 [email protected]/t Au 660000mE E 70/5100 E 70/5320 N 5 km Snoopy LGAC0058 [email protected]/t Au Gunsmoke LGRC0006 [email protected]/t Au & [email protected]/t Au & [email protected]/t Au Lakeside LGAC0473 [email protected]/t Au LGAC0514 [email protected]/t Au & [email protected]/t Au & [email protected]/t Au & [email protected]/t Au & [email protected]/t Au & [email protected]/t Au & [email protected]/t Au 670000mE (Hammerhead LGAC0418 [email protected]/t Au LGAC0419 [email protected]/t Au LGAC0431 LGAC0480 [email protected]/t Au LGAC0481 [email protected]/t Au LGRC0004 [email protected]/t Au E 70/5017 LGACO101 [email protected]/t Au & [email protected]/t Au LGAC0138 [email protected]/t Au LGAC0140 [email protected]/t Au & [email protected]/t Au LGAC0141 [email protected]/t Au & [email protected]/t Au LGAC0143 [email protected]/t Au LGAC0157 [email protected]/t Au IGAC0158 [email protected]/t Au LGAC0091 [email protected]/t Au Cygnus tenement Drilling results (Max downhole Au ppm) ° <0.005 ° 0.005-0.01 0 0.01-0.02 [email protected]/t Au ° 0.02-0.09 LGAC0019 0.09-0.20 [email protected]/t Au >0.20 LGAC0332 [email protected]/t Au Uma HRAC0086 [email protected]/t Au Drifter HRAC0073 [email protected]/t Au LGAC0022 [email protected]/t Au Jesse PERTH Wilgam Craton 6320000mN GOLD ROAD RESOURCES 1 Joint Venture with Cygnus Gold whereby Gold Road owns 89% interest in Yandina JV and 85% interest in Lake Grace JV. Refer ASX announcement 24 July 2020 Note: Refer Cygnus ASX Announcements 22 Feb 2018, 1 July 2019, 15 October 2019 and 24 July 2020 HRAC0046 [email protected]/t Au Map Location E 70/4991 E 70/5251 200 km PAGE | 20#22We care for the well being of all OUR STRATEGY We act with integrity Discover gold resources that transform the company Build and maintain a project pipeline for growth We deliver ៨៦៦ We innovate to improve Operate safely and care for our people, stakeholders & environment We work as one team Position Gold Road as an ESG market leader GOLD ROAD RESOURCES DISCOVERY U ESG GRUYERE DELIVER SHAREHOLDER VALUE Deliver world class operating performance Grow margins and mine life Value accretive transformational M&A CORPORATE DEVELOPMENT Grow & Diversify production base Quality, low risk assets ORGANISATIONAL CAPABILITY People and business systems to support the strategy Capital management, strong liquid balance sheet, cash flow for growth and returns PAGE | 21#23DELIVERING SHAREHOLDER VALUE இ GOLD ROAD RESOURCES STRENGTH Strong business and balance sheet MARGIN Consistent low-cost production for >11 years GROWTH Gruyere Operational Excellence Discovery Corporate Development SHAREHOLDER RETURNS* TSR (12 months): ~15% TSR (from Gruyere discovery): ~1,290% *Total shareholder returns from 10 September 2019 to 9 September 2020: 133c-153c Total shareholder returns from 11 October 2013 to 9 September 2020: 11c - 153c GOLD ROAD RESOUR INVESTOR RELATIONS ENQUIRES Duncan Hughes: Manager - Corporate Development & Investor Relations Tel: +61 8 9200 1600 | [email protected] PAGE | 22#24APPENDICES Competent Persons Statements Mineral Resource Statement Ore Reserve Statement Board and Management Gruyere JV Hedge Book ESG slide GOLD ROAD RESOURCES PAGE 23#25COMPETENT PERSONS STATEMENT Exploration Results The information in this report which relates to Exploration Results is based on information compiled by Mr Justin Osborne, Executive Director-Exploration and Growth for Gold Road. Mr Osborne is an employee of Gold Road, and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM 209333). Mr Osborne is a shareholder and a holder of Performance Rights. Mr Osborne has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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 Osborne consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. Mineral Resources The information in this report that relates to the Mineral Resource estimation for Gruyere is based on information compiled by Mr Mark Roux. Mr Roux is an employee of Gold Fields Australia, is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM 324099) and is registered as a Professional Natural Scientist (400136/09) with the South African Council for Natural Scientific Professions. Mr Justin Osborne, Executive Director-Exploration and Growth for Gold Road and Mr John Donaldson, Principal Resource Geologist for Gold Road have endorsed the Mineral Resource for Gruyere on behalf of Gold Road. " Mr Osborne is an employee of Gold Road and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM 209333). Mr Osborne is a shareholder and a holder of Performance Rights. Mr Donaldson is an employee of Gold Road and a Member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist (MAIG RPGeo Mining 10147). Mr Donaldson is a shareholder and a holder of Performance Rights. The information in this report that relates to the Mineral Resource estimation for Attila, Orleans, Argos, Montagne, Alaric, YAM14, Central Bore, Gilmour and Renegade is based on information compiled by Mr Justin Osborne, Executive Director-Exploration and Growth for Gold Road, Mr John Donaldson, Principal Resource Geologist for Gold Road and Mrs Jane Levett, previously employed by Gold Road. " Mrs Levett is a Member of the Australasian Institute of Mining and Metallurgy and a Chartered Professional (MAusIMM CP 112232). Messrs Roux, Osborne and Donaldson and Mrs Levett have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Messrs Roux, Osborne and Donaldson and Mrs Levett consent to the inclusion in the report of the matters based on this information in the form and context in which it appears. Ore Reserves The information in this report that relates to the Ore Reserve estimation for Gruyere is based on information compiled by Ms Fiona Phillips. Ms Phillips is an employee of Gold Fields Australia and a Member of the Australasian Institute of Mining and Metallurgy (MAUSIMM 112538). Mr Max Sheppard, formerly Principal Mining Engineer for Gold Road has endorsed the Ore Reserve estimation for Gruyere on behalf of Gold Road. ☐ Mr Sheppard was an employee of Gold Road and is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM 106864). The information in this report that relates to the Ore Reserve estimation for Attila, Argos, Montagne and Alaric, is based on information compiled by Mr Max Sheppard, formerly Principal Mining Engineer for Gold Road. Ms Phillips and Mr Sheppard have sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity currently being 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'. Ms Phillips and Mr Sheppard consent to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. New Information or Data Gold Road confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources and Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not materially changed from the original market announcement. GOLD ROAD RESOURCES PAGE | 24#26MINERAL RESOURCE TABLE - DECEMBER 2019 Gruyere Project Joint Venture - 100% basis Gold Road Attributable Tonnes Grade Contained Metal Tonnes Project Name / Category Gruyere Total (Mt) (g/t Au) (Moz Au) (Mt) Grade (g/t Au) Contained Metal (Moz Au) 137.95 1.31 5.79 68.97 1.31 2.90 Measured 14.55 1.09 0.51 7.27 1.09 0.26 Indicated 118.19 1.33 5.05 59.10 1.33 2.52 Measured and Indicated 132.74 1.30 5.56 66.37 1.30 2.78 Inferred 5.21 1.39 0.23 2.61 1.39 0.12 Golden Highway + YAM14 Total 15.57 1.46 0.73 7.78 1.46 0.36 Measured 0.29 1.99 0.02 0.14 1.99 0.01 Indicated 11.33 1.48 0.54 5.67 1.48 0.27 Measured and Indicated 11.62 1.50 0.56 5.81 1.50 0.28 Inferred 3.95 1.33 0.17 1.98 1.33 0.08 Central Bore 0.24 13.05 0.10 0.12 13.05 0.05 Measured Indicated Measured and Indicated Inferred 0.24 13.05 0.10 0.12 13.05 0.05 Total Gruyere JV 153.76 1.34 6.62 76.88 1.34 3.31 Measured 14.84 1.11 0.53 7.42 1.11 0.26 Indicated 129.52 1.34 5.59 64.76 1.34 2.79 Measured and Indicated 144.36 1.32 6.12 72.18 1.32 3.06 Inferred 9.40 1.66 0.50 4.70 1.66 0.25 GOLD ROAD Continued on following slide PAGE 25#27Project Name / Category Renegade Measured Indicated Measured and Indicated Inferred Gilmour OP Measured Indicated Measured and Indicated Inferred Gilmour UG Measured Indicated Measured and Indicated Inferred Total Gold Road 100% Owned Measured Indicated Measured and Indicated Inferred Total Gold Road Attributable Measured Indicated Measured and Indicated Inferred Gruyere Project Joint Venture - 100% basis Gold Road Attributable Tonnes Grade Contained Metal Tonnes Grade Contained Metal (Mt) (g/t Au) (Moz Au) (Mt) 0.93 (g/t Au) 1.30 (Moz Au) 0.04 י י י י י י י י י י י י 0.93 1.30 0.04 1.82 2.21 0.13 0.42 5.81 0.08 0.42 5.81 0.08 1.40 1.13 0.05 0.78 5.13 0.13 0.30 4.33 0.04 0.30 4.33 0.04 0.49 5.62 0.09 3.53 2.62 0.30 0.72 5.20 0.12 0.72 5.20 0.12 2.82 1.96 0.18 80.41 1.40 3.61 7.42 1.11 0.26 65.48 1.38 2.91 72.90 1.36 3.18 7.52 1.77 0.43 26#28ORE RESERVE TABLE - DECEMBER 2019 Gruyere Project Joint Venture - 100% Basis Tonnes Grade Contained Metal Tonnes Project Name / Category (Mt) (g/t Au) (Moz Au) (Mt) Grade (g/t Au) Gold Road Attributable Contained Metal (Moz Au) Gruyere Total 86.84 1.22 3.41 43.42 1.22 1.71 Proved Probable 14.40 1.05 0.49 7.20 1.05 0.24 72.44 1.26 2.93 36.22 1.26 1.46 Golden Highway Total 6.54 1.46 0.31 3.27 1.46 0.15 Proved Probable Total Gruyere JV Proved Probable 0.32 1.67 0.02 0.16 1.67 0.01 6.22 1.45 0.29 3.11 1.45 0.15 93.38 1.24 3.72 46.69 1.24 1.86 14.73 1.06 0.50 7.36 1.06 0.25 78.66 1.27 3.22 39.33 1.27 1.61 NOTES FOR MINERAL RESOURCE AND ORE RESERVE TABLES " All Mineral Resources and Ore Reserves are completed in accordance with the JORC Code 2012 Edition All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding. All dollar amounts are in Australian dollars Mineral Resources are inclusive of Ore Reserves. Gruyere Measured category includes Surface Stockpiles. Gruyere Proved category includes Surface Stockpiles. Mineral Resources and Ore Reserves are depleted for mining The Gruyere JV is a 50:50 joint venture between Gold Road and Gruyere Mining Company Pty Limited, a wholly owned Australian subsidiary of Gold Fields Ltd. Figures are reported on a 100% basis unless otherwise specified Gold Road holds an uncapped 1.5% net smelter return royalty on Gold Fields' share of production from the Gruyere JV once total gold production from the Gruyere JV exceeds 2 million ounces All Open Pit Mineral Resources are reported at various cut-off grades allowing for processing costs, recovery and haulage to the Gruyere Mill. Gruyere - 0.37 g/t Au. Attila, Argos, Montagne, Orleans, and Alaric 0.50 g/t Au. YAM14 -0.40 g/t Au. All Open Pit Mineral Resources are constrained within a A$1,850/oz optimised pit shell derived from mining, processing and geotechnical parameters from ongoing PFS and operational studies. Underground Mineral Resources at Central Bore are constrained within a 1.5m wide optimised stope with a 3.5 g/t Au cut-off reflective of a A$1,850/oz gold price The Ore Reserves are constrained within a A$1,600/oz mine design derived from mining, processing and geotechnical parameters as defined by Pre-feasibility Studies and operational studies. The Ore Reserves are evaluated using variable cut-off grades: Gruyere - 0.30 g/t Au. Attila - 0.65 g/t Au (fresh), 0.58 g/t Au (transition), 0.53 g/t Au (oxide). Alaric - 0.59 g/t Au (fresh), 0.56 g/t Au (transition), 0.53 g/t Au (oxide), Montagne - 0.64 g/t Au (fresh), 0.60 g/t Au (transition), 0.58 g/t Au (oxide), Argos -0.66 g/t Au (fresh), 0.64 g/t Au (transition), 0.59 g/t Au (oxide). Ore block tonnage dilution and mining recovery estimates: Gruyere - 7% and 98%. Attila - 14% and 97%. Alaric -20% and 94%. Montagne - 9% and 93%. Argos 10% and 88% GOLD ROAD RESOURCES PAGE | 27#29OUR LEADERSHIP DUNCAN GIBBS Managing Director & CEO Mr Gibbs has over 30 years of field and management experience covering all aspects of the mining and exploration process in Australia through senior and executive positions held with AngloGold Ashanti, Acacia and Shell/Billiton. Previously Mr Gibbs held management and executive roles at AngloGold Ashanti including most recently General Manager at Sunrise Dam where he led the well-publicised turnaround of one of the largest underground gold mines in Australia. Prior to this Mr Gibbs headed the AngloGold Ashanti, Australasia Exploration team to the >8 Moz Tropicana discovery and acquired the dominant ground position in a new Australian gold province. As Tropicana evolved, he managed the prefeasibility and feasibility study teams for the project as the Vice President, and later on was appointed General Manager of Tropicana Gold Mine following project approval by the JV partners and regulators in late 2010. JUSTIN OSBORNE Executive Director - Discovery & Growth Mr Osborne brings to Gold Road a wealth of exploration experience in multiple commodities including gold, copper and base metals. He has over 30 years of field and management experience covering all aspects of the mining and exploration process in Australia and internationally through senior positions held with Gold Fields Ltd and WMC Resources Ltd amongst others. Mr Osborne commenced with Gold Road in 2013 and played a pivotal role in the rapid and effective resource development of the world class Gruyere Gold Deposit which is now in development. Previously Mr Osborne held numerous senior roles on the exploration executive team of Gold Fields Ltd, including Vice President Development Strategy - Growth and International Projects, and General Manager Near Mine Exploration covering all international mining operations. He played an instrumental role in the development of the Damang Superpit project in Ghana, which yielded potential resources in excess of 6 Moz within two years, and had considerable discovery success as Mineral Resource Manager at the St Ives Gold Mine, making the discoveries of the Athena and Hamlet deposits among other significant Reserve additions. TONY MUIR General Manger - Finance Mr Muir is a finance professional with over 20 years' experience, predominantly in the mining sector, holding a variety of senior finance roles with ASX and TSX listed entities, across a diverse range of commodities including gold, zinc, copper, lead, vanadium, iron ore and mineral sands. His experience and responsibilities have included corporate finance, commercial and procurement, project evaluation and corporate governance, and he has been instrumental in establishing business systems to transition assets from project development phase through to successful producers. Mr Muir holds a Bachelor of Commerce from Curtin University, is a Fellow of the Institute Chartered Accountants Australia and New Zealand, and is an Associate of the Institute of Chartered Secretaries and Administrators. Mr Muir is also a member of the Chamber of Minerals and Energy - Economics and Tax Committee. SHARON GODDARD General Manager - Social Performance & External Relations Ms Goddard joined Gold Road in June 2011 and has more than 20 years' experience in mining, agribusiness and legal. Ms Goddard's responsibilities include managing corporate aspects of the organisation, external affairs, native title, marketing and day-to-day operations. Previously Ms Goddard was Practice Manager for a newly merged Perth law firm Middletons and was instrumental in the fit-out and set-up of the new merged office including implementation of an IT solution, financial and human resources functions and risk and compliance. She has also worked for Wesfarmers as Executive Assistant to the Finance Director and assisted with all investor relations briefings including Annual and Half Yearly Results presentations and roadshows; as well as preparation of national roadshows to analysts, fund managers and shareholders. GOLD ROAD RESOURCES PAGE | 28#30OUR LEADERSHIP STUART JENNER HAYDEN BARTROP GOLD ROAD RESOURCES General Manager - Capability & Culture Mr Jenner is a people capability professional with more than 18 years' experience in senior leadership roles across mining, mining services, government, defence, retail and private enterprise. He joined Gold Road Resources in September 2017 and is responsible for the Strategy, Risk, People & Culture and Health, Safety & Environment functions. Prior to joining Gold Road Resources, Mr Jenner was a leadership and people capability consultant with Eyezon Group and the Institute of Executive Coaching and Leadership, where he coached and developed leaders at all organisational levels, from Boardroom Directors to Frontline leaders. Mr Jenner has held senior HR & HSE leadership roles in mining and mining services including being the Executive General Manager - People Capabilities with Emeco Group, where he led HR, HSE & IT globally, senior operational health and safety roles with St Barbara Limited and people transformation project roles with Newcrest Mining. General Manger - Legal & Corporate Development and Company Secretary Mr Bartrop is a lawyer with more than 15 years' experience in the gold industry in legal, commercial and business development roles. He joined Gold Road Resources in March 2016 and is responsible for the legal and company secretarial functions and identifying corporate development opportunities for the future growth of the company. Prior to joining Gold Road Resources, Mr Bartrop was Director of Legal and Business Development at Barrick Gold Corporation, and played an instrumental role in the divestment of US$1.25 billion in assets, including the sale of Cowal, Kanowna, Plutonic, Granny Smith, Lawlers and Darlot operations in Australia and a 50% interest in Porgera in Papua New Guinea. Mr Bartrop also held several other roles in the Australia Pacific region at Barrick Gold Corporation during his career, including Manager of Growth and Business Development, Legal Counsel and Contracts Superintendent. Mr Bartrop started his career as a lawyer for Deacons. DUNCAN HUGHES KEVIN CASSIDY JULIAN WOODCOCK Manager-Corporate Development & Investor Relations Mr Hughes is a geologist and former mining analyst with 20 years' experience in mining, resource development and exploration across multiple commodities. Over 10 years as an exploration geologist he has been involved in the discovery and definition of a number of gold and Nickel deposits. Mr Hughes has subsequently spent almost 10 years as a mining analyst, initially as a fund manager and later as a sell-side analyst in the UK and Australia. Duncan holds a first class honours degree in Geology and an MBA in Investment and Risk. Duncan joined Gold Road Resources in early 2018 as Manager of Investor Relations and Corporate Development. Chief Geologist Mr Cassidy has over 25 years diversified experience in the resources industry, ranging from leading exploration teams in frontier regions through to resource development, and applied research. Before coming to Gold Road, Kevin was Principal Consultant with CSA Global, and a Director/Principal at Bare Rock Geological Services. Prior to this he was CEO of ASX-listed gold and base metal explorer Alchemy Resources. He is a Councillor of the Association of Mining and Exploration Companies (AMEC) and is a strong advocate for the exploration and mining industry through provision of a constructive and sustainable legislative and external environment. Kevin is passionate about providing an effective framework leading to increased exploration and discovery. He is Chair of the Minerals Technical Subcommittee of the Geological Survey of Western Australia and Chair-elect of the Australian Geoscience Council. Kevin holds post-graduate qualifications in geology and business management, is a Fellow of the Australian Institute of Geoscientists and the Society of Economic Geologists, and an Adjunct Research Fellow at the University of Western Australia. Exploration Manager Mr Woodcock is a geologist with 18 years' experience in mining, resource development and exploration across multiple commodities. He has had a diverse career, working throughout Central Asia, Russia and Australia for a range of companies, including Gold Fields and Evolution Mining. A career highlight has been his involvement in the +2Moz Invincible gold mine, which was discovered and developed over a 3 year period during his tenure as exploration manager at St Ives. PAGE | 29#31OUR LEADERSHIP TIM NETSCHER Non-Executive Chairman Mr Netscher has had a distinguished career in the international resources industry, holding senior executive roles with Gindalbie Metals, Newmont Mining, Vale Australia, PT Inco, BHP Billiton and Impala Platinum. Through these roles, he has gained extensive operational, project development and business development experience. Mr Netscher is a highly credentialed public company director and is currently Non-Executive Chairman of Deep Yellow Ltd, a Non-Executive Director of St Barbara Mines Ltd and Western Areas Ltd and is a Non-Executive Director of the proprietary entity Aquila Resources Pty Ltd. SHARON WARBURTON Non-Executive Director Ms Warburton has extensive experience in the mining, infrastructure and construction sectors. She gained substantial operational, commercial and risk management experience in the global resources sector through her time as an executive at Rio Tinto. She has also previously held senior executive positions at Brookfield Multiplex, ALDAR Properties PJSC, Multiplex, and Citigroup. Ms Warburton is on the board of not-for-profit organisation Perth Children's Hospital Foundation and formerly the Chairman of the Northern Australia Infrastructure Facility, a former Director of Western Power and up until recently the former Co-Deputy Chairman of Fortescue Metals Group Limited and former Non- executive Director of NEXTDC Limited. BRIAN LEVET Non-Executive Director Mr Levet holds a B.Sc. in Geology from the University of London and brings over 40 years of diversified mineral industry experience to the Company. Mr Levet has worked for Rio Tinto Rhodesia, Zimbabwe Iron and Steel Corporation and Newmont Mining Corporation in exploration, project start-up and operational roles. Mr Levet retired from Newmont Mining Corporation in 2011 as Group Executive for Exploration. During his 27 years with Newmont Mining Corporation, Mr Levet's exploration and team leadership skills resulted in a number of major discoveries. MAREE ARNASON Non-Executive Director Ms Arnason, FAICD, is an experienced director and senior executive whose career has spanned 30 years in the natural resources, energy and manufacturing sectors with companies including BHP Billiton, Carter Holt Harvey, Svenska Cellulosa AB (SCA) and Wesfarmers, working across various commodities including copper/gold, iron ore, timber, coal, mineral sands and natural gas. As a Co-Founder/Director of Energy Access Services, who operate an independent Western Australian (WA) focused digital trading platform for wholesale gas buyers and sellers, Ms Arnason has experience in the start-up, commercialisation and innovation space and was recognised as one of the Top 100 Global Inspirational Women in Mining in 2018. GOLD ROAD RESOURCES PAGE | 30#32GRUYERE JOINT VENTURE Gold Road (50%) and Gold Fields (50%) JV Participants / Manager JV Structure Management Committee and Subcommittees Voting Rights Key Decisions of Management Committee Toll Treating/Funding expansion at Gruyere / Leveraging Gruyere Facilities Fully Funded Exploration / Upside on Gruyere JV . Gold Fields manager of Gruyere operations. Gold Road manages exploration up to and including PFS. Unincorporated JV Each party receives 50% of gold production to sell on market or deliver into hedges. Cash calls made by manager monthly Management Committee: Each party is entitled to appoint 3 members to the management committee and Chair rotates annually. Meets quarterly. Unanimous decisions required Gruyere Technical Committee meets monthly with 3 members from each company, with Chair rotating annually. Advisory only to Management Co. Equal to the percentage ownership prior to the commencement of the meeting (i.e. 50% each) No casting vote by Chair Approval of Annual Business Plan and Life of Mine Plan Approval of significant unbudgeted capital Approval of significant contracts Key appointments (General Manager at Gruyere and Auditor) JV Agreements allows toll treating of ore from Gold Road's tenements on arm's length terms, with key principles agreed. Gold Road can sole fund capex for additional mill throughput and have first right to additional throughput. Gold Road may leverage off Gruyere facilities, including water, emergency facilities, light vehicle maintenance, flights and accommodation if necessary Development and operation management of Gruyere by Gold Fields allows Gold Road to focus on making the next major discovery Fully funded to undertake extensive regional exploration to improve Gruyere production profile or new standalone deposit 1.5% Net Smelter Royalty on Gold Fields 50% share of production from the JV after 2Moz mined at Gruyere (100% basis) GOLD ROAD RESOURCES PAGE 31#33HEDGE BOOK 30 September 2020 GOLD ROAD RESOURCES Calendar Year Quarter Quarterly Weighted Volume Average Price Ounces A$/oz 2020 31 December 6,115 1,801 Sub-Total 6,115 2021 31 March 10,800 1,810 30 June 10,300 1,823 30 September 9,800 1,836 31 December 8,800 1,851 Sub-Total 39,700 2022 31 March 8,700 1,911 30 June 8,700 1,977 30 September 9,500 1,899 31 December 6,480 1,735 Sub-Total 33,380 Total 79,195 1,853 PAGE | 32#34ENVIRONMENT, SOCIAL, GOVERNANCE POSITION GOLD ROAD AS AN ESG LEADER CARING FOR THE ENVIRONMENT Obtaining Cyanide Management Code and ISO certifications Tailings Dam, low risk life of mine design (Integrated Waste Landform) Gruyere utilises saline water resources Low carbon emissions from gas power Solar Power installation at Yamarna camp, evaluating opportunities at Gruyere OPERATING SAFELY > 3 million manhours LTI free Gruyere construction ✔ Gold Road & Gruyere Lost Time Injury Frequency Rate 0.99* Gruyere obtained ISO45001 certification "Vital Behaviours" Program ☑M Mental Health First Aid trained SUPPORTING OUR COMMUNITY Gruyere employment*: 350 site personnel 9% indigenous, 21% female Strong relationship with the Yilka people Gold Road 30% female employees Gold Road Taxes & Royalties contributes >A$50M pa¹ RESPONSIBLE GOVERNANCE Established corporate culture that values integrity and ethical behaviour AIRA Award 2 recognising proactive and transparent stakeholder engagement Aligned to ASX Corporate Governance principles External & Internal audit GOLD ROAD RESOURCES Gold Road Gruyere JV * Weighted average 1 Estimate based on A$2,300/oz gold price. Taken as average over LOM *Figures are pre-COVID-19 Action Plan 2 Best Investor Relations: Mid Cap ASX 200 2019 PAGE 33