Mako Gold Investment Presentation

WEST AFRICAN GOLD PEERS $368M $319M $260M Enterprise Value & Market Cap $187M $129M Mako Gold ■Market Cap (A$M) ■EV (A$M) $86M $71M $60M $54M $49M $42M $36M $310M $296M $194M $142M $117M $76M $51M $50M $45M $48M $35M $21M OREZONE predictive discovery TIETTO MINERALS OSINO ROSCANGOLD Montage OKLO GOLD RESOURCES LIMITED CHESSER RESOURCES NEWCORE GOLD TURACO CORD Mako Gold ORECORP RESOURCES LIMITED TSX-V ASX ASX ASX TSX-V TSX-V TSX-V ASX ASX TSX-V ASX ASX Burkina Faso Guinea Tanzania Cote D'Ivoire Namibia Mali Cote D'Ivoire Mali Senegal Ghana Cote D'Ivoire Cote D'Ivoire Developer Explorer Developer Developer Developer Explorer Explorer Explorer Explorer Explorer Explorer Explorer Note: All dollars quoted in AUD. Share price data as at 6 October 2021. Assumed AUD:USD FX Rate 0.73 and AUD:CAD FX Rate 0.92. Source: Factset database and company announcements 18

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