MID-TIER PRODUCER DUNCAN GIBBS MANAGING DIRECTOR & CEO - PowerPoint PPT Presentation

MID-TIER PRODUCER DUNCAN GIBBS – MANAGING DIRECTOR & CEO

DISCLAIMER IMPORTANT NOTICES Natu ture re of this is docum ument: t: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available at www.goldroad.com.au or www.asx.com. Not an an offer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. Not fin inan ancial al pro roduc uct ad advic vice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products. Fo Forward ard-looki king ng st state ateme ment nts: Certain statements in the presentation are or may be “forward -looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Relevant factors which may affect the Company’s actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel. Disc isclaim aimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, 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 there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Unver nverif ifie ied inf inform rmati ation: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company.

CORPORATE PROFILE CAPITAL STRUCTURE ISSUED SHARES BOARD OF DIRECTORS Tim Netscher Non-Executive Chairman PERFORMANCE RIGHTS Duncan Gibbs Managing Director & CEO MARKET CAP Justin Osborne Executive Director – Discovery & Growth CASH & EQUIVALENTS Sharon Warburton Non-Executive Director Brian Levet Non-Executive Director DEBT DRAWN (OF 100M FACILITY) Carol Marinkovich Joint Company Secretary HEDGING Hayden Bartrop Joint Company Secretary ORE RESERVES SHAREHOLDERS MINERAL RESOURCE ANALYST RESEARCH SUBSTANTIAL SHAREHOLDERS INDICES , 3

UNLOCKING VALUE FOR SHAREHOLDERS Australia’s Newest Gold Producer  Long life, low cost production at Tier 1 gold mine 1  11 year mine life averaging ~300 kozpa* 2  3.7 Moz Reserve, 6.6 Moz Resource* 2  First gold poured June 2019  Commercial Production attained September 2019 3  At or above design throughput rates in early 2020 4  50:50 JV partner Gold Fields a proven global miner  Final Capital Cost of A$610M below budget of A$621M 5 Successful Explorer in Undercover and Underexplored Belts  Extensive (~5,000 km 2 ) and prospective Yamarna exploration tenements (Gold Road 100%)  Cygnus JVs 75% interest in underexplored Greenstone belt * 100% basis 1 Refer to ASX announcement dated 6 December 2019. Tier 1: Greater than 10 year mine life; greater than 300,000 ounces per annum; greater than 3.5 million ounce Ore Reserve and costs at the lower end of the cost curve 2 Refer to ASX announcement dated 12 February 2020 – Gruyere JV only – excludes 0.3Moz of 100% Gold Road Resources. 3 Refer to ASX announcement dated 9 October 2019. 4 Refer to ASX announcement dated 21 April 2020 5 Refer to ASX announcement dated 30 January 2020

OUR STRATEGY GRUYERE DISCOVERY CORPORATE DEVELOPMENT DELIVER SHAREHOLDER VALUE ESG ORANISATIONAL CAPABILITY

GRUYERE – MARCH QUARTER SUMMARY Opera rati tion (100% basis sis) Unit it Marc rch h 2020 2020 Qtr YTD 3 Ore Mined kt 1,837 1,837  59,595 ounces produced* at attributable AISC of A$1,135/oz 2,783 2,783 Waste Mined kt Strip Ratio w:o 1.51 1.51  Grade g/t 1.06 1.06 Plant availability at 83.4% below BFS target of 91.3% Ore milled kt 1,926 1,926  Plant throughput rates at or above nameplate design Head Grade g/t 1.05 1.05 94.1 94.1 Recovery %  Gold recovery of 94.1% continues to be slightly higher than expected Gold Produced oz 59,595 59,595 Cost st Summa mmary ry  Ore stockpiles of 3.3 Mt @ 0.7 g/t Au 179 179 Mining A$/oz 520 520 Processing A$/oz  Attributable gold sold of 31,700 ounces at A$2,001/oz 92 92 G&A A$/oz 33 33 Ore Stock & GIC Movements A$/oz  ~35% at spot By-product Credits A$/oz (2) (2) Cash sh Cost st A$/oz 822 822 822 822  ~65% at hedged at average contract price of A$1,802 per ounce 77 77 Royalties, Refining, Other A$/oz 19 19 Rehabilitation 1 A$/oz 100 100 Sustaining Leases A$/oz Sustaining Capital & Exploration A$/oz 117 117 All-in n Sust ustai ainin ning Cost sts A$/oz 1,135 1,135 Sales es (50% share) re) 2 Unit March h 2020 Qtr YTD Gold Sold oz 31,700 31,700 *100% basis unless otherwise stated Average Sales price A$/oz 2,001 2,001 1 Rehabilitation includes accretion and amortisation 2 Gold Road’s 50% share 3 Calendar Year 2020

GRUYERE MINE 2020 GUIDANCE UNCHANGED  2020 Annual Guidance 1  250,000-285,000 ounces (100% basis)  AISC A$1,100-A$1,200/oz attributable (GOR)  COVID- 19: Not ‘’business as usual’’ but guidance unchanged  Predominantly fresh rock mining from May 2020  Second mining fleet from mid 2020  TSF lift commenced. Forecast at A$10M (100%) 1 Refer to ASX announcement dated 12 February 2020

STRONG BALANCE SHEET ENHANCED LIQUIDITY AND SMALLER HEDGE BOOK  Net Cash of A$35M at 31 March 2020 with Cash and equivalents of A$115M. Debt position of A$80M  A$50M debt repayment to close Working Capital Facility  Drawdown additional A$50M of A$100M Revolving Credit Facility as part of COVID-19 Risk Management  Pre-delivered 5,800 ounces of hedged production to reduce June quarter hedge to 7,400 ounces (~22% production exposure) Note: Refer to ASX announcement dated 21 April 2020

GRUYERE JV UNLOCKING GROWTH Measured & Indicated Resource growth of 29% to 6.1 Moz 1  M&I ounces increased by 1.2 Moz  M&I grade increased to 1.32 g/t Au 2020 focus on growing Gruyere JV 3.7 Moz Reserve  Convert M&I Resource into A$1600/oz Reserve  Grow Reserve through optimized economics Golden Highway Resource rce & Reserve rve Categor egory Tonnes es Grade e (g/t Moz  Resources - 0.7 Moz maintained (100% basi sis) s) (Mt) Au) Au Au  Reserves - 0.3 Moz maintained M&I Mineral Resource (M,I) 144 1.32 6.12 Total Mineral Resource (M,I,I) 154 1.34 6.62 Ore Reserve (P,P) 93 1.24 3.72 1 100% Basis. Refer to ASX announcement dated 12 February 2020