#1AkhGold Unlocking Egypt's World-Class Gold Potential Q2 2023 - Corporate Presentation DONBLAD ODE MAO OOW#2Disclaimer AkhGold This document does not constitute or form any part of any offer or invitation or other solicitation or recommendation to purchase any securities and contains information designed only to provide a broad overview for discussion purposes. As such, all information and research material provided herein is subject to change and this document does not purport to provide a complete description of the investment opportunity. All expressions of opinion are subject to change without notice and do not constitute advice and should not be relied upon. The Company does not undertake any obligation to update or revise the information in or contents of this document. Recipients of this document who may consider acquiring shares in the Company are reminded that any such acquisition should not be made on the basis of the information contained in this document. Certain statements contained in this presentation constitute forward-looking information under applicable Canadian securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "objectives", "strategies", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Akh Gold Ltd ("The Company") believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in its presentation should not be unduly relied upon. In particular, this presentation contains forward-looking statements pertaining to the following: mineral resource estimates; targeting additional mineral resources and expansion of deposits; the Company's expectations, strategies and plans for its African projects, including the Company's planned exploration and development activities; the results of future exploration and drilling and estimated completion dates for certain milestones; successfully adding or upgrading mineral resources and successfully developing new deposits; the timing, receipt and maintenance of approvals, licences and permits from any applicable government, regulator or administrative body; production and processing estimates; future financial or operating performance and condition of the Company and its business, operations and properties; benefits of the Company's projects to local communities; and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, performance or achievements. This forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and is subject to risks and uncertainties. These risks and uncertainties could causeactualresultstodiffermateriallyfromthefutureresultsexpressedorimplied in this presentation. Such risks may include, without limitation: mineral exploration, development and operating risks; estimation of mineralization, resources and reserves; environmental, health and safety regulations of the resource industry; competitive conditions; permitting and licencing risks; operational risks; negative cash flow; liquidity and financing risks; funding risk; uninsurable risks; conflicts of interest; exercise of statutory rights and remedies; government policy changes; ownership risks; artisanal miners and community relations; difficulty in enforcement of judgments; the Company's staggered board of directors; market conditions; stress in the global economy; current global financial condition; exchange rate and currency risks; commodity prices; reliance on key personnel; dilution risk; and risks related to the payment of dividends. For more information about the risks and challenges of the Company's business, investors should review those factors discussed in the section entitled "Risk Factors" in the Listing Application of the Company dated May 31, 2018, available on the Company's profile at www.sedar.com Statements relating to "mineral reserves" or "mineral resources" are deemed to be forward-looking statements or information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described can be profitably produced in the future. Readers are cautioned that the foregoing lists of factors are not exhaustive. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement. Although the forward-looking statements contained in this presentation are based upon assumptions which the Company believes to be reasonable, the Company cannot assure holders of its ordinary shares that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this presentation, the Company has made assumptions regarding: future commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; the receipt of required permits; royalty rates; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing and assumptions underlying estimates related to adjusted funds from operations. These forward-looking statements are made as of the date of this presentation and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. AKH GOLD | Corporate Presentation 2#3Exceptionally Positioned in Egypt 6 GOLD PROJECTS in prospective & underexplored Arabian Nubian shield 1,914 KM² OF GROUND in a competitive, world-class exploration district along with Barrick, B2Gold & Centamin STRATEGIC LICENCE SELECTION >200 hard-rock workings and >260 km² of alluvial wadi workings PRIORITY TARGETS DEFINED Channels samples include 6.80 g/t Au over 18m and 0.98 g/t Au over 79m ROAD ACCESSIBLE and located within close proximity to Marsa international airport and the Red Sea coast 80.1% OWNED SUBSIDIARY of In2Metals, part of the La Mancha Group la mancha RESOURCE FUND EXCELLENT INFRASTRUCTURE and world-class discovery potential as demonstrated by >14 Moz Sukari gold deposit (450 koz Au pa) AKH GOLD | Corporate Presentation Hurghada Saraga ATON Gabal Om Ourada Project 346km² 4 El Quseir Aton Resources B2 Gold Barrick Gold Centamin EBDAA Hammash Lotus Gold Marine Logistics Medaf North Africa Mining Nubian Mining Red Sea SMW Gold Shalateen INSET MAP EVE Wadi Jundi Project 696km² LOTUS Cairo Bir Esl Project 175km² EGYPT Gabal Al Mayyet Project 175km² Mersa Alam EVE CENTAMIN Sukari Mine BARRICK Wadi Dubur Project 175km² Gabal Al Shaluhl Project 348km² BaGOLD LEGEND Airstrip Port Town Highway Railways Nature Reserve 0 20 40 KM#4Investor Friendly Jurisdiction AKH GOLD | Corporate Presentation Cairo and the river Nile AkhGold BUSINESS & TRADE New modern mining code ratified in 2020 Free trade agreements with the EU + UK One of the largest FDI recipients in Africa Centamin's Sukari Gold Mine from www.centamin.com GOVERNMENT Stable government focused on building mining industry Multiple active international resource companies Ambitious programme of economic reforms ECONOMY +5.6% GDP in 2018/19. 3rd largest economy in Africa Consistently top-performing MENA economies Skilled workforce with low labour and operating costs#5Emerging Mining Province MINING HISTORY DATING BACK MORE THAN 6,000 YEARS Numerous Pharaonic, Roman and Colonial mines >1,000 gold mining sites identified WORLD CLASS ARABIAN NUBIAN GEOLOGY +14 Moz Sukari gold mine (>450,000 oz/pa) Orogenic, VMS and intrusion-related styles No significant modern exploration undertaken MINING REGULATIONS New mining code ratified in 2020, following consultation with Wood Mackenzie Two international bid rounds for new gold licences completed in 2021 and 2022 Licences awarded to 11 companies including several key global producers: COMPANY MARKET CAP ($CAD) == 1.9B CENTAMIN 4.4B B2GOLD BARRICK AKH GOLD | Corporate Presentation AkhGold Akh Gold: Wadi Dubar Project OPERATING COUNTRIES Egypt, Burkina Faso, Cote d'Ivoire Namibia, Mali, Columbia, Philippines, Burkina Faso, Finland, Uzbekistan TICKERS LSE:CEY, TSX:CEE TSX:BTO, NYSE:BTG 6B 13 countries in Americas, Africa, Papua New Guinea & Saudi Arabia LTSX:ABX. NYSE:GOLD 5#62 Six 100% Owned Gold Projects, Covering 1,914 Km² Wadi Dubur (175 km²) – Granted Feb 2022 - - Four drill targets defined with channel sample results of: Shekou Shear: 6.80 g/t Au over 18 m Shekou Valley: 3.7 g/t Au over 10 m and 0.5 g/t over 33 m Shark Fin Shear: 0.98 g/t Au over 79 m (inc. 1.99g/t over 33 m) 404 Shear: 0.78 g/t Au over 23 m (ending in grade > 0.5 g/t Au) Wadi Jundi (696 km²) – Granted Feb 2022 Two discoveries with drill targets being defined: - Grey Granite: 3km intrusion with >5 km discontinuous hard rock workings, rock chip result include: 58.3 g/t, 20.5 g/t, 18.8g/t Au Manih VMS: Gossan (up to 4.32 g/t Au), iron-clay zones, silicified andesite and exhalatives, discontinuously over ~2.4 km strike Wadi Dubur Wadi Jundi Gabal Al Shaluhl Gabal Om Ourada (349 km²) - Granted Feb 2022 Gabal Om Ourada Prospecting stage, rock chip results including: 6.78 g/t, 6.77 g/t etc. Gabal Al Shaluhl (346 km²) - Granted Feb 2022 Prospecting stage, rock chip resultsl: 14.75 g/t, 9.18 g/t etc. AKH GOLD | Corporate Presentation Bir Esl AkhGold Prospecting Target definition Drill Targets Scout Drilling Gabal El Mayyet 1 6#7PROJECT Wadi Dubur Summary Deposit Style Key Attributes Asset Stage Results Next Phase 175km² licence Orogenic gold 35km to Sukari / 5km to historic Atud mine Drill target definition Channels include: 0.98 g/t Au over 79.2 m, 6.80 g/t Au over 18.0 m, and 3.70 g/t Au over 10.0 m Airborne geophysics & drilling Work Completed Ground truthing remote sensing targets (WV3 & Sentinel 2) 1,930 recon point samples & 73 chip channels for 1,368 m Geological mapping of 'UEF prospect' Exploration Results UEF prospect with multiple zones and targets. Quartz diorite (2km²) with 4 drill targets defined: Shekou Shear: 2 km strike & up to 20 m wide Shekou East: 1.5 km strike (open) & up to 35 m wide Shark Fin Shear: 350 m strike (open) & up to 80 m wide 404 Shear: 250 m strike (open) & up to 35 m wide AKH GOLD | Corporate Presentation Egypt Wadi Dubur N Altus project Newly granted project Airstrip 0 Port 0 Town Railway Road Historical gold mine/ Occurrence Sukari Gold Mine CENTAMIN 200 20 40 40 & 7#8PROJECT Wadi Dubur OVERVIEW >100 modern hard rock gold workings Potential vein working up to 240m in strike Multiple targets within several NE/SW striking shear zones Large syn-late granite in the NE and a mapped ophiolite/shist belt with gabbro and diorite intrusions in the south Intense shearing in multiple orientations Shekou Shear (DRILL TARGET) 2km NE-SW striking zone with multiple sub-parallel shears and alteration > 20m apparent width along quartz-diorite - schist contact Detailed mapping and channel sampling planned Q1 23. Key Channel Results: 22WDCH-049: 6.80 g/t Au over 18m 22WDCH050: 3.51 g/t Au over 10m (started in grade) 22WDCH051: 3.70 g/t Au over 10m (started in grade) arar er sorts cene avevo anlagt weer ers witter F 6 A 1 નાન AKH GOLD | Corporate Presentation J Ag/A 2230-27* Lateta 2 Aamor 11 cmpe dan a 22WCC 16/1 tive AkhGold 4 that RECO 275A 003 cuton 07 070/ 1/2 WH 148 AkhGold Map Location Legend Vanur Project A Dia denne colar Aug/1 10 5-10 05-1 at an -01 Osservation 200 Sentinel 2 Interp -Brutory Maty/oncina Carina Syn Lee 74157) 57 (how m 3/14 1 R Eg/taxey 13 nmti BOCHON 1200-25 Shark Fin Shear (DRILL TARGET) 350m target zone on NE-SW Alteration of up to 80m apparent width, remains open along strike Detailed mapping and channel sampling planned Q1 23. Key Channel Results: 22WDCH-046: 0.98 g/t Au over 79.2m (started in grade) incl. 33.2m at 1.99 g/t Au 22WDCH055: 1.60 g/t Au over 12.3m (started in grade) 404 Shear (DRILL TARGET) NE-SW striking shear, composite sample of 404 g/t Au over 1m, alteration >35m apparent width. Remains open along strike Key Channel Results: 22WDCH-044: 0.78 g/t Au over 23m (started in grade) 4 075 23 Arreste sesongest wonyppige sangste near-britise WACH WD-UEF-Chip Channel & Point Sample Assay to Date Jan 2023 Stetesane precedo40 DEWODOWE Baby N 0.25 0.5 075 km 8#9PROJECT Wadi Dubur ARTISINAL MINING DISTRICT 22WDCH-046 33.2 m at 1.99 g/t Au HARD ROCK WORKINGS AkhGold DAEWOO 'SHARK FIN' ZONE CROSS-CUTTING WORKINGS SAMPLING OF WORKINGS AKH GOLD | Corporate Presentation 9#10PROJECT Wadi Jundi Summary Deposit Style Key Attributes Asset Stage Results Next Phase 696km² licence Orogenic gold & VMS system Gold with granites, ophiolites and gossan Target definition and mapping 30km long shear structure defined Rock chips: 58.3 g/t, 20.5 g/t Airborne geophysics & drilling Work Completed Ground truthing of remote sensing targets (WV3 & Sent. 2) 1,700 Recon point samples (pending for > 400 samples) Soil grids, Manih & Grey Granite prospects (2,200 samples) Exploration Results Numerous priority targets: Manih VMS Target: 2.4 km - gossans & VMS indicators Grey Granite: 3 km x 3 km intrusion with >5 km cumulative discontinuous hard rock workings on flanks Kabb Hamdallah: Large remote sensing target with > 6 km of discontinuous hard rock gold workings AKH GOLD | Corporate Presentation N Altus project Newly granted project Airstrip Port 0 Town Railway Wadi Jundi 0 Road Historical gold mine/ Occurrence Sukari Gold Mine 200 CENTAMIN 40 40 N Egypt 10 &#11PROJECT Wadi Jundi OVERVIEW 30 km major shear corridor with multiple active and historic hard rock and alluvial workings Hosts historical gold mine, mapped by EMRA 28 modern hard rock gold workings 10km long mapped ophiolite belt Gossan, iron-clay zones, silicified andesite and exhalative outcrops (VMS indicators), observed discontinuously over 2 km strike AKH GOLD | Corporate Presentation A 2812000 2814000 2816000 2818000 568,000 LOCATION 570000 572000 574000 576000 578000 580000 582000 584000 586000 588000 590000 592000 594000 596000 Numerous targets on Multiple targets yel flanks of intrusives to be visited LEGEND Wadi Jundi Project Au g/t ☐ > 10 5-10 1-5 0.5-1 0.1-0.5 <0.1 Sentinel 2 struc. interp. Remote Sensing Target Priority 1 Priority 2 2802000 2804000 2806000 2808000 2810000 AOI 2 Active workings. 58.30 g/t. Au fram spoil Priority 3 Mapped or interpreted intrusion Apparent hard rock working Coordinate system UTM WGS8135N ADI 1 Discontinuous hard rock Au workings over 1.6 km NW strike length on intrusive flank Up to 20.50 g/t Au from working spoil 4 of 32 Areas of Interest sampled to date Akh Gold 5.69 g/t Au from active working spoil 9.53 g/t Au from. gossanous quartz lenses Multiple NW striking sub parallel workings with up to 10.23 g/t Au from quartz vein and 2.70 g/t Au from altered wall rock >30 km major shea: corridor with active and historic wadi and hard rock Au workings within Wadi Jundi - Gold Assay Results 0 2 N 4 Kilometers A Hara rock working 11 AkhGold ADI5 Discontinuous hard rock Au wurkings reportedly over 1.7 km NE strike length on intrusive tank. 2802000 2804000 2806000 2808000 2810000 2812000 2814000 2816000 2818000#12PROJECT Wadi Jundi AkhGold WADI WORKINGS HARD ROCK WORKINGS UNDERGROUND WORKING WADI JUNDI EXPLORATION CAMP MANIH PROSPECT - GOSSANOUS FLOAT 12 AKH GOLD | Corporate Presentation#13PROJECT Gabal Al-Shaluhl Summary Deposit Style Key Attributes Asset Stage Results Next Phase 348km² licence Orogenic gold Historic gold mining district with granites Target definition and prospectivity mapping Rock chip results include: 14.7 g/t Au, 9.2 g/t Au, 6.2 g/t Au Reconnaissance mapping and sampling Work Completed Satellite remote sensing to generate priority targets Field exploration commenced March 2023 Sampling and mapping of workings Exploration Results Negotiations to defer Year 1 rent to Nov. 2023 given access issues Intense alluvial and hard rock workings: Abu Muawad: 13 km zone on flank of intrusion Bokari: 2 km zone of hard rock gold working Talet Gadalla: 2.75 km hard rock gold working AKH GOLD | Corporate Presentation Egypt Gabal Al Shaluhl N Altus project Newly granted project Airstrip 0 Port 0 Town Railway Road Historical gold mine/ Occurrence Sukari Gold Mine CENTAMIN 200 20 40 40 13 &#14PROJECT Gabal Al-Shaluhl OVERVIEW Located in historical 'Bakriyah' gold mining district 49 hard rock gold workings identified to date Workings located within and proximal to several mapped granitic intrusions o Exploration underway 2795000 572000 LOCATION LEGEND AKH GOLD | Corporate Presentation ce 2435 2793000 2794000 ㅁㅁ Gabal Al Shaluhl Project Au g/t > 10 5-10 ㅁ 1-5 05-1 0.1-0.5 <0.1 Sentinel 2 struc, interp Remote Sensing Target Priority 1 Priority 2 Priority 3 Apparent hard rock working Coordinate system UTM WGS84 3 9.18 g/t Au from abandoned pit 573000 574000 Active working Zone of active workings. Pit up to 300 m long and underground workings reportedly up to 100 m deep 575000 AkhGold >2 km of active and historic NE and E striking hard rock Au workings within granitoid 1.89 g/t Au over 2.5 m in exposed working footwall 14.75 g/t Au from 4.82 g/t Au from working spoil 6.16 g/t Au from 6 m exposed footwall and hanging wall to shaft wide abandoned pit 2 of 24 Areas of Interest sampled to date AkhGold Gabal Al Shaluhl - Gold Assay Results O L 0.25 L 0.5 N Kilometers 14 14 2793000 2794000 2795000#15PROJECT Gabal Al-Shaluhl HARD ROCK WORKINGS SAMPLING IN WORKING AKH GOLD | Corporate Presentation GABAL AL SHALUHL LANDSCAPE AkhGold UNDERGROUND WORKING 15#16PROJECT Gabal Om Ourada Summary Deposit Style 346km² licence Orogenic gold Key Attributes Gold with granites and ophiolites Asset Stage Results Next Phase Target definition and prospectivity mapping Results expected shortly Reconnaissance mapping and sampling Work Completed Ground truthing remote sensing targets (WV3 & Sentinel 2) 1,011 Recon point samples Prospect scale mapping Exploration Results Numerous targets identified: Wadi Sodmein: Orogenic gold target approx. 750 m x 350 m North Listwanite: NW-SE shears hosting discontinuous decametric sized listwanite lenses over strike lengths of > 1 km West Silica Carbonate: Silicified sedimentary carbonate up to 30 m width > 350 m strike (remains open) AKH GOLD | Corporate Presentation Gabal Om Ourada Altus project N Newly granted project 0 Airstrip Port 0 Town Railway Road Historical gold mine/ Occurrence Sukari Gold Mine CENTAMIN 200 20 40 40 Egypt 16 &#17PROJECT Gabal Om Ourada OVERVIEW 24 hard rock gold workings mapped to date Potential vein working up to 375m in strike length Located in a mapped ophiolite belt Targeting listwaenite horizons, alongside intrusive- related gold AkhGold Map Location F EMRA mapped gold occurrence Suspected vein workings over 4.6 km strike length Legend Licence Boundary Phase 1 and 2 Remote Sensing Targeting Priority Syn- to late-tectonic granitoid 1 2 . Broad Structures (Sentinal Interp) Minor Structures (Sentinel Interp)) ED Gold Locations (Zoheir) A Klemm Archaedogical Points Arsenal workings interp. Hard Rock Aluval Wed KM Gabal Om Ourada - Priority Targets 2022 0 2.5 AKH GOLD | Corporate Presentation AkhGold Northwest regional fabric in ophiolite melange AkhGold Licence Location EGYPT CAIRO Legend Aih Gold Licence Outline Geology Fetic Intrusives Schist Comple Ophiolite Melange Calo-Ak Volcanic Matic intrusives Basement Units Overlying Units Quaternary Cer Suspected alluvial workings over 4.9 km strike length Structure -Fault/ Fault Lineament/ Normal Fault Lineaments foliation/banding Strike Sip/Sheer Thrust Foult Interpreted Structure Regional Structure (Remote Sensing)] Minor Structural Fabric (Flemote Sensing) Mineralisation O Gold Occurence (EMRA, Zoe and Goldfart 2015) Historical Mines (EMRA Zoheir and Goldfarb 2018) Artisanal Workings Interpreted Hand Rock Workings 2- Interpreted Alluvial Channel Workings Akh Gold - Abu Diwan Project Priority Gold Targets 0 3 KM 6 N 17 17#18PROJECT Gabal Om Ourada Possible ancient workings focussed on gently dipping foliation controlled alteration zones in schist - undefined width & continuity Sub-horizontal curvilinear foliation 1.20 g/t Au AKH GOLD | Corporate Presentation 1.14 g/t Au 0.69 g/t Au Up to 1.57 g/t Au in alteration zone Hill slope sampled targeting additional zones and possible along strike continuation SODMEIN PROSPECT 350 m SSE of possible ancient workings. 0.46 g/t Au in altered schist Morth AkhGold HARD ROCK WORKING UNDERGROUND WORKING GREY GRANITE HARD ROCK WORKING 18#19PROJECT Bir Esl & Gabal El Mayyet вопров покров 653090 2004 Work Completed Granted as part of Bid Round II in 2022 Licence to be awarded shortly (expected Q3 2023) Desk based in-house remote sensing underway Exploration Results Licences target orogenic, intrusion related and VMS system Host post tectonic granitoid intrusions and ophiolite sequences Exploration to commence as soon as documentation received BE >11 hard rock gold workings and 6 zones of wadi workings GEM >6 hard rock gold workings and 4 zones of wadi workings GEM 50 km north-west of the Sukari gold mine EGYPT END Ato project Nwgrand proc Pat Tow Rawn Bad Irenal goid mine/ ECCATUR Selar Gold Min COWBSATION вопров Carbonate Chlorite Epidote Phengite (R) Muscovite (G) Kaolinite (B) 02 01 mirj Wadi W Alteration (ASTER:B4/B5) AKH GOLD | Corporate Presentation AkhGold Bar Esl Projet Eastern Desert, Egypt 2022 EGYPT END Atus project Nw pret proc Tow Baad Schon Gold Mine 2 sorpce 483800 AkhGold Map Location 1 11 LTN 色。 kbe LEZEND Hir Fall'ripes Kometem TOK 40 N -k ww" th AkhGold Map Loca, un F. IANI = V. Maja Pred ALTAN Vir Ra Gabal Mayyet Project 2. 174 km Bir Esl Phylic Alteration & Complex Faulting Gabal El Mayyet Project Eastem Desert, AkhGold Egypt 2022 Klometer 40 BATEde Tex Prt saral o ng L A ER 4 DC Hardrock and Channe workings 2022 Staal ong 1022 AS 1 Zone 36 thology Interpretation fairi WILS ネイション tvere - HAIN1.1 Han Nebr a. ELEMENTAL ALLY RA_IS N Bir Csl Projxl - Remouc Sensing Interpretations 2022 " K 19#20Unique Discovery Opportunity AkhGold EXCEPTIONAL GOLD PORTFOLIO in Egypt's Eastern Desert, which hosts the >14Moz Sukari gold mine with little modern exploration PRIORITY DRILL TARGETS Channel samples include 0.98 g/t Au over 79.2 Im and 6.80 g/t Au over 18.0 m 6 PROSPECTIVE LICENCE AREAS covering >1,900km² selected based on proprietary remote sensing work and awarded in international bid process 80.1% OWNED BY LA MANCHA of In2Metals part of the Highly successful Egyptian investment La Mancha group >200 HARD ROCK GOLD WORKINGS historic as well as modern and active hard rock gold workings identified across licences la mancha RESOURCE FUND AKH GOLD | Corporate Presentation 20 20#21AkhGold Appendix AKH GOLD | Corporate Presentation#22Established Power Infrastructure Emerging world leader in solar energy production Largest wind farms in the Arabian Nubian region Third-largest natural gas producer in Africa Largest oil producer outside of OPEC 60 thermal power systems around the country Egypt's power systems reform over the past decade means installed capacity comfortably exceeds peak demand Government-strategy to boost the contribution of sustainable energy sources to 20% by 2022 and 42% by 2035 AKH GOLD | Corporate Presentation AkhGold#23Mining Code & Royalties Mining Code Royalty Parameters Licence Type Corporate Tax (%) Govt. Carried Interest (%) Precious metals (%) Base metals Precious Industrial Exploration 22.5% 10-20% 5% (%) 5% stones (%) minerals (%) Mining Code 5% 5% 2020 Licence Type Mining Code Key Terms (continued) Exploration Land rent (EGP/km2/year) 5,000 for initial period, increasing by 5,000 with each renewal Indicative US$ / licence: $36,000 Min. expenditure (EGP/km2/year) 20,000 for initial period, increasing by 20,000 with each renewal Indicative US$ / licence: $125,000³ Expenditures Bid Round 1 Licence Gabal Om Ourada Wadi Jundi Wadi Dubur Gabal Al Shaluhl Bid Round 1 - Sub-Total Bid Round 2 Licence Bir Esl Mining Code Key Terms Application/ Grant Cost (USD) 20,000/50,000¹ AkhGold First Renewal Fee Second Renewal Fee tbc tbc Min. Size (km²) Single licence block (typically circa 175 km²) Max size (km²) None Reporting requirements Quarterly & annual inc. expenditure Initial term (Years) Renewals (Numbers & Years) 2 3 x 2 years Area dropped Area - km² Year 1 - US$m Completed Year 2 - US$m Year 3 - US$m 346 0.46 0.30 0.68 696 0.93 0.78 1.36 175 0.67 0.61 0.34 348 0.24 0.35 0.68 1,565 2.30 2.04 3.05 Area - km² Year 1 - US$m Year 2 - US$m Year 3 - US$m 171 0.13 0.60* 0.13 0.60* 0.26 1.20 Gabbal El Mayyet Bid Round 2 - Sub Total 177 348 Note: Licences awarded by public bids and are valid for specific commodities. 1:9 expat to local staff ratio. ESIA & EMP required at FS. AKH GOLD | Corporate Presentation on renewal (%) 20%2 23#24History of Gold Mining in Egypt AkhGold PRE- & EARLY DYNASTY 4000 BC - 2700 BC Small-scale and unsystematic open pit and underground mining of gold- bearing quartz veins NEW KINGDOM 1550 BC - 1070 BC Expansion of mining concentrated in central Eastern Desert, using more advanced tools and techniques. Wadis believed to have been systematically worked for gold ROMAN & BYZANTINE 30 BC 641 AD Decreased mining activity, limited to a small number of defendable sites. Introduction of revolutionary 'rotary millstone' technique LATE MODERN 1882 1956 Sporadic gold mining and reworking of ancient tailings by British and other 20th century miners. Multiple gold expeditions lead by EGSMA, the second geological survey in the world OLD & MIDDLE KINGDOM 2700 BC - 1650 BC First systematic gold mining targeting gold associated with malachite and haematite PTOLEMAIC 305 BC 30 BC Continued mining using similar prospecting methods. New improved milling and ore processing techniques EARLY ARAB 641-1517 Increase in mining activities concentrated in SE Desert. Operations ceased circa 1350 AD MODERN REBUBLIC 1956 Present 20th century El Sid mine closed in 1957. while Centamin's Sukari gold mine began production in 2009 AKH GOLD | Corporate Presentation 7850 24 4