Investor Presentaiton

Standout value opportunity - de-risked steady-state operations Red 5 EV/Reserve relative to its peers . Valuation of WA based-gold companies¹ Bubble size = Enterprise Value The new KOTH Gold Mine positions Red 5 as an emerging mid-tier Australian gold producer EV/ Reserve (A$/oz) 2,000 Ramelius 1,600 1,200 Bellevue Gold Road Capricorn 800 Silver Lake 400 0 0.0 Calidus 1.0 Regis Genesis Westgold Red 5 2.0 3.0 4.0 Reserves (Moz) www.red5limited.com Sources: 1. S&P Capital IQ; Goldnerds.com.au as 8 January 2024 Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 17

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