Red 5 : Investor presentation BMO Global Metals & Mining Conference

onlyuse

ersonalwww.red5limited.com

BMO 31st Global Metals & Mining Conference Investor Presentation

Mark Williams, Patrick Duffy

27 February 2022 - 2 March 2022

Competent Person's Statement and Disclaimer

Competent Person Statements for JORC 2012 Mineral Resource and Ore Reserves

● The information in this presentation that relates to the Mineral Resources for the King of the Hills deposit is extracted from the ASX announcement titled "Increased Underground Resource at King of the Hills"

released on 22 July 2021. The information in this presentation relating to the King of the Hills regional deposits is extracted from the ASX announcement titled "Maiden JORC open pit Resources defined for near mine regional deposits at King of the Hills" dated 1 May 2019, and Information in this presentation relating to KOTH satellite deposits is extracted from the ASX announcement titled "Additional Resources defined for satellite open pit deposits at King of the Hills" dated 6 May 2020. The information in this presentation relating to the King of the Hills Ore Reserve is extracted from the ASX announcement titled "KOTH Final Feasibility Study delivers 2.4Moz Ore Reserve - confirms at least a 16-year Life of Mine and a clear pathway to production in 2022" dated 15 September 2020.

only2020, which are available on the ASX web-site. Information in this presentation relating to Great Western is extracted from the ASX announcement titled "Resource Update and maiden Reserve for Great Western deposit", dated 15 October 2020. Information in this presentation relating to Cables and Mission are from ASX announcements: "Option Agreement signed to purchase Cables and Mission gold deposits", dated 2 December 2019, and "Red 5 exercises option to complete acquisition of the Cables and Mission gold deposits", dated 22 May 2020. Information in this presentation relating to Ockerburry Hill is extracted from the ASX announcement titled "Eastern Goldfields Regional Exploration Update" dated 16 April 2018. All announcements are available on the ASX web-site.

● Red 5 confirms that all the material assumptions underpinning the Final Feasibility Study production targets on the King of the Hills project (see ASX release 15 September 2020), or the forecast financial information

derived from a production target, in the initial public reports continue to apply and have not materially changed.

● The information in this presentation that relates to the Mineral Resources and Ore Reserves for the Darlot Underground deposit relates to the ASX announcement titled "Red 5 2020 Annual Report" dated 14 October

useare presented have not been materially modified from the original market announcements.

● R d 5 confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings

Forward-Looking Statements

● Certain statements made during or in connection with this Investor Presentation contain or comprise certain forward-looking statements regarding RED's Mineral Resources and Reserves, exploration activities, project development operations, production rates, life of mine, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as well as general market outlook. A though RED believes that the expectations reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause ctual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements and no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and business a d operational risk management. Except for statutory liability which cannot be excluded, each of RED, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this Investor Presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission. RED undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly, you should not place undue reliance on any forward looking statement.

www.red5limited.com	Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence	Page: 2
ersonal

Red 5 - poised to deliver Australia's next major gold mine

✓ Red 5 has two gold mines in one of the world's safest and most prospective gold districts

only
✓	King of the Hills (KOTH) is a major Australian gold
	deposit - Top 10-largest Ore Reserves in Australia1
	● Mineral Resource of 4.12Moz2 and Ore Reserve of 2.4Moz3
	● On track for first gold in the June Quarter 2022
use
✓	Sale complete for Siana Gold Project in Philippines4
	● US$19M cash received and ~US$36M NSR royalty
ersonal
✓	Experienced management team with strong project
	development skill-set - ex-Evolution, Glencore, Xstrata
	1.	Refer to Slide 30 for sources
	2.	Red 5 ASX Release: 22 July 2021
	3.	Red 5 ASX Release: 15 September 2020
	4.	Red 5 ASX Release: 21 September 2021
www.red5limited.com	Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence	Page: 3

Red 5 Limited - Corporate profile

Our Company Vision

only					"To be a successful multi-operational
				exploration and mining company, providing
					benefits to all stakeholders, through the
					consistent application of technical excellence,
					and responsible and sustainable industry
use						practices."
					Shareholders
	Share price at 25 February 2022		A$0.315			Victor Smorgon,
						15.1%
ersonal	Shares issued		2,356.4M
					Franklin
	Market capitalisation at 25 February 2022	A$742.3M
			Templeton, 9.9%
	Cash & bullion at 31 December 20211	A$49.6M		Other,
					63.40%	Ruffer, 6.9%
	Debt at 31 December 20211		A$77.1M
	Enterprise value at 25 February 2022	A$769.8M			Electrum, 4.7%
1. Red 5 ASX Release: 25 January 2022
www.red5limited.com	Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence		Page: 4

ESG - Proactive COVID preparation/management

onlyuse

ersonalwww.red5limited.com

Zenith currently constructing 2MW solar energy and battery farm at KOTH (similar Zenith power installation shown in picture)

1. Total Recordable Injury Frequency Rate (12 month ave.), total recordable injuries per million hours worked.
2. LTIFR = Lost Time Injury Frequency Rate (12 month ave.), the number of lost time injuries per million hours worked.
3. Most recent statistics fromhttp://www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx

Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence

Page: 5