KGL Resources : Corporate Presentation

Equity Raising 2022

Morgans Business Breakfast

20 April 2022

Investment highlights

Australia's next copper producer

High >2.0% copper grade Resource1 - unique vs. global Cu projectsFeasibility advanced - project fully permitted Updated FS expected mid 2022

Near-term growth opportunities for Resource and Mine Life extension

Funding plan being finalised

Offtake signed with Glencore on favourable termsIndependent pure-play copper exposure leveraged to strong market fundamentals

1. KGL Resources ASX announcement 23 March 2022

Experienced management team and Board with development expertise

Safe jurisdiction Project located in pro-mining Northern

Territory

Jervois Copper Project

•  KGL Resources is creating the next Australian copper hub in the Northern Territory

•  Consolidating the proximate & prospective Reward, Rockface and Bellbird deposits

•  Robust PFS led to Feasibility Study - planned delivery of mid 2022

•  Direct access to key infrastructure - c.530km road access from mine to Glencore's Mount Isa complex. Plenty Highway to be sealed as part of Outback Way#

•  Supported by long-term/extensive mining and exploration leases

Jervois Resource

Resources	(Mt)	Copper (%)	Silver (g/t)	Gold (g/t)	Copper (kt)	Silver (Moz)	Gold (koz)
Indicated	13.83	2.31	32.4	0.32	319.4	14.41	140.7
Inferred	9.06	1.61	15.6	0.16	146.2	4.53	46.4
Total	22.87	2.04	25.7	0.25	465.6	18.93	187.1

Mt Isa Complex

Jervois Tenements

• • Jervois Exploration Licence - 37.9 km2

• • Jervois Mining Leases - 19.5 km2

• • Unca Creek Exploration Licence - 72.7 km2

# Funding announced but timeline not finalisedhttps://www.pm.gov.au/media/678-million-further-seal-and-upgrade-outback-way

Jervois Project Development update

Clear pathway to production

Project parameters

• • 1.6Mtpa plant; 300-person camp; tailings storage facility; hybrid (solar and diesel) power station; bore farm; 2 x Open Cut and 3 x UG mines

Key achievements to date

•  PFS and design

•  Civils design and camp supplier agreed

•  FEED for processing plant underway

•  Binding offtake signed with Glencore

•  Significant Resource upgrade

Upcoming works

• • CAPEX/OPEX estimates nearing completion

• • Mine plan optimisation

• • Tender for civil contracts

• • Finalise funding strategy

• • Feasibility Study to be finalised mid 2022

Terms

Binding Offtake Agreement with Glencore

Key benefits

• • Evergreen with minimum 5-year term from commercial production

• • Covers 100% of copper concentrate from Jervois mine

• • Material delivered by KGL to Glencore's Mount Isa's Copper Smelter

• • Benchmarked pricing for payables - Copper, silver and gold

•  Certainty of concentrate sales for the project - supporting the funding strategy

•  Strong project support from a leading mining, processing & commodities trading firm

•  Benchmarked pricing in a strong commodity environment

•  Simplified transport solution minimises emissions

•  Significantly reduces haulage / transport costs

•  Sales within Australia supporting local and broader economies

•  Significant working capital benefits

•  De-risks investment decision for Jervois