Mid-Tier Road Map

KEFI GOLD + COPPER Market Cap of £23M Versus Group NPV £348M (KEFI beneficial interest only) NPV Versus Mkt Cap ₤M NPV £M Value of Portfolio At 31 Dec 2021 metal prices 400 KEFI Mkt Cap 23 350 29 300 TK 191 250 128 74 200 80 Hawiah 128 150 100 205 191 164 JQ 29 50 114 0 Total NPV 348 H1 2020 H2 2020 H1 2021 H2 2021 Metal prices at 31 Dec 2021 Gold Copper Zinc Silver TK Hawiah JQ $ Period NPV NPV per share 1,830 H1 2020 ₤ 114,000,000 0.06 9,750 H2 2020 £ 244,000,000 0.11 3590 H1 2021 £ 279,000,000 0.13 23 H2 2021 £ 348,000,000 0.12 5

View entire presentation