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Investor Presentaiton

KEFI GOLD + COPPER Tulu Kapi Economic Metrics At Gold Price US$1,591/oz Based on Open Pit Ore Reserves Only 2021 Plan (8 year LOM contract mining) Waste:ore ratio 7.4:1.0 . 1Moz in reserve at 2.1g/t within 1.7Moz resource at 2.7g/t Processing rate 1.9-2.1Mtpa Total ore processed 15.4Mt • AISC of US$826/oz includes all operating costs, maintenance capital and royalties Avg. head grade 2.1g/t · Royalties increase with the gold price and therefore so does AISC Gold recovery 93.3% Annual steady state 140,000 ozs • Life of Mine ("LOM") is the time to mine the planned open pit only production Total LOM production 980,000 ozs . Gold production and net operating cash flow are for the first eight years KEFI's targeted 70% beneficial interest in Tulu Kapi would represent a US$70M annual interest in the underlying annual net operating cash flow of US$100M, assuming a gold price of US$1,591/oz AISIC All in Costs (incl. initial capex) Avg. net operating CF Payback 826/oz 1,048/oz $100M p.a. 3 years 10
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