Investor Presentaiton

EXPOSURE TO GOLD AT ATTRACTIVE ENTRY PRICE Leading Gold Reserves per share... ...at an attractive price per gold Reserve ounce Perpetua NovaGold 1 Artemis 34 Skeena Marathon 5 Ascot 2 30 49 73 20 40 60 80 Skeena Ascot Artemis NovaGold Marathon Perpetua¹ $0 $49 $50 $76 $68 $100 $111 $136 $134 $150 North American Peers' Gold P&P Reserves per 1,000 shares 2,3 North American Peers' Price (US$) per Gold P&P Reserve ounce²,3 1. Based on the 2020 Feasibility Study (FS) which is intended to be read as a whole and sections should not be read or relied upon out of context. The information in this presentation is subject to the assumptions, exclusions and qualifications contained in the FS. See "Regulatory Information" at the end of this presentation. For a summary of differences between the FS and TRS, see "Cautionary Note and Technical Disclosure" at the beginning of this presentation. 2. North American peer Proven & Probable (P&P) gold Reserve ounces are based on the most recent available technical reports and company materials. 3. Per share metrics are presented on a fully diluted basis using publicly available information; market caps as of October 24, 2023 close prices, converted to U.S. dollars using the Bank of Canada exchange rate as of October 24, 2023. 20 20

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