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Investor Presentaiton

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 KEFI Mkt Cap 23 400 23 350 29 300 TK 191 250 +4 128 74 200 80 Hawiah 128 150 100 205 191 JQ 29 29 164 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 3,590 H1 2021 £ 279,000,000 0.13 23 H2 2021 £ 348,000,000 0.12 5
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