Mining Forum Americas Presentation
Released
Released
Announcement PDF
ASX | TSX: WGX
westgold.com.au
MINING FORUM AMERICAS
Westgold 4-5-6
4 operating hubs - ~500koz by FY29 - pathway beyond 600koz
28 September 2026
Important Notices and Disclaimer
Investor Presentation
This investor presentation is dated 28 September 2026 and has been prepared by Westgold Resources Limited (ASX: WGX, TSX:WGX)
(Westgold) based on information available to it at the time of preparing this presentation. No representation or warranty, express or
implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in
this presentation.
To the maximum extent permitted by law, none of Westgold, its directors, employees or agents, advisers, nor any other person, accepts
any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for
any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.
Financial values are reported in US$ unless otherwise specified, converted using A$ figures at a flat AUD:USD of 0.6869 as at 30 June
2026, from https://www.rba.gov.au/statistics/historical-data.html#exchange-rates.
Not an Offer
This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale
of any security, and neither this presentation nor anything in it shall form the basis of any contract or commitment whatsoever.
This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in the
United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or
any other jurisdiction. Any securities described in this presentation have not been, and will not be, registered under the US Securities
Act of 1933 and may not be offered or sold in the United States except in transactions registered under the US Securities Act or exempt
from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.
Summary Information
By reviewing or retaining these materials, or attending or participating in this presentation, you acknowledge and represent that you
have read, understood and accepted the terms of this “Important Notices and Disclaimer”. This presentation contains summary
information about Westgold and its activities current only at the date of this presentation. This presentation is for information purposes
only. The information in the presentation is of a general nature only and does not purport to be complete. This presentation should be
read in conjunction with Westgold’s periodic and continuous disclosure announcements lodged with the Australian Securities
Exchange (ASX), which are available at www.asx.com.au and on Westgold's website at www.westgold.com.au, and in Canada under
Westgold's profile on SEDAR+ at www.sedarplus.ca. Certain information in this presentation may have been obtained from research,
surveys or studies conducted by third parties, including industry or general publications. Neither Westgold nor its representatives have
independently verified any such information sourced from third parties or industry or general publications.
Not Investment Advice
This presentation does not constitute in any way an offer or invitation to subscribe for securities in Westgold pursuant to the
Corporations Act 2001 (Cth). This presentation does not constitute investment advice and has been prepared by Westgold without
taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient must make
his/her own independent assessment and investigation of Westgold and its business and assets when deciding if an investment is
appropriate and should not rely on any statement or the adequacy and accuracy of any information.
This presentation is in summary form and does not purpose to be exhaustive. Westgold makes no representation or warranty (either
expressed or implied) as to the accuracy, reliability or completeness of the information in this presentation. Westgold and its respective
directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or
negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived
from, or for any omissions from the presentation, except liability under statute that cannot be excluded.
Forward-looking Statements
This document contains “forward-looking information” and “forward-looking statements” which are based on the assumptions,
estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and
expected developments, as well as other factors that management of Westgold believes to be relevant and reasonable in the
circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements include
statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects’,
‘anticipates’, ‘plans’, ‘believes’, ‘estimates’, ‘seeks’, ‘intends’, ‘targets’, ‘projects’, ‘forecasts’, or negative versions thereof and other
similar expressions, or future or conditional verbs such as ‘may’, ‘will’, ‘should’, ‘would’ and ‘could’. Although management believes that
the assumptions made by Westgold and the expectations represented by such information are reasonable, there can be no assurance
that the forward-looking information will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results,
performance or achievements of Westgold to be materially different from any anticipated future results, performance or achievements
expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the
actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be
evaluated, changes in laws, regulations and practices, the geopolitical, economic, permitting and legal climate that Westgold operates
in, as well as those factors disclosed in Westgold's publicly filed documents. Westgold believes that the assumptions and expectations
reflected in the forward-looking information are reasonable. Readers should not place undue reliance on forward-looking information.
Westgold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Historical Information
Information about the past performance of Westgold contained in this presentation is given for illustrative purposes only and cannot be
relied upon as an indicator of (and provides no guidance as to) future performance, including future share price performance of
Westgold. Any such historical information is not represented as being, and is not, indicative of Westgold’s view on its future financial
condition and/or performance, nor the future financial condition and/or performance of the merged group.
Pro-forma financial information
Investors should be aware that this presentation contains pro-forma financial information and certain other financial information and
measures that are “non IFRS financial information” under Regulatory Guide 230: ‘Disclosing non IFRS financial information’ published
by ASIC and are not recognised under Australian Accounting Standards (AAS) and International Financial Reporting Standards (IFRS).
The non IFRS financial information financial measures do not have a standardised meaning prescribed by the applicable AAS or IFRS,
and therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an
alternative to other financial measures determined in accordance with the applicable AAS or IFRS. Although Westgold believes the
non-IFRS financial information and financial measures provide useful information to users in measuring the financial performance and
condition of Westgold, investors are cautioned not to place undue reliance on any non-IFRS financial information or financial measures
included in this presentation.
This presentation contains pro forma financial information of Westgold. The pro forma financial information provided in this
presentation is for illustrative purposes only and is not represented as being indicative of Westgold’s (or anyone else's) views on
Westgold’s future financial position and/or performance.
2
3
Important Notices and Disclaimer
Ore Reserves and Mineral Resources
The information in this presentation that relates to the Ore Reserves and Mineral Resources of Westgold has been extracted
from the ASX announcement titled “2026 Mineral Resource Estimate and Ore Reserves" released to the ASX on 20 August 2026
and available at www.asx.com.au. Westgold confirms that it is not aware of any new information or data that materially affects
the information included in that announcement, and that all material assumptions and technical parameters underpinning the
estimates in that announcement continue to apply and have not materially changed. Westgold confirms that the form and
context in which the Competent Persons findings are presented have not been materially modified from that announcement.
The information in this presentation that relates to Westgold’s Exploration results and Mineral Resource Estimates is compiled
by Westgold technical employees and contractors under the supervision of Mr. Jake Russell B.Sc. (Hons), who is a member of
the Australian Institute of Geoscientists and who has verified, reviewed and approved such information. Mr Russell is a full-
time employee of Westgold and has sufficient experience which is relevant to the styles of mineralisation and types of deposit
under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the Joint Ore
Reserves Committee’s 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code) and as a
Qualified Person as defined in the CIM Guidelines and National Instrument 43-101 - Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators (NI 43-101). Mr. Russell is a full-time employee as General Manager –
Technical Services of Westgold and, accordingly, is not independent for purposes of NI 43-101. Mr Russell consents to and
approves of the inclusion in this presentation of the matters based on his information in the form and context in which it
appears. Mr Russell is eligible to participate in short and long-term incentive plans of Westgold.
The information in this presentation that relates to Westgold’s Ore Reserve is based on information compiled by Mr. Leigh
Devlin B.Eng. FAusIMM and who has verified, reviewed and approved such information. Mr. Devlin has sufficient experience
which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which they are
undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person as defined in the CIM
Guidelines and NI 43-101. Mr. Devlin is full-time senior executive of Westgold and, accordingly, is not independent for purposes
of NI 43-101. Mr. Devlin consents to and approves of the inclusion in this presentation of the matters based on his information
in the form and context in which it appears. Mr. Devlin is a full-time senior executive of Westgold and is eligible to and may
participate in short-term and long-term incentive plans of Westgold as disclosed in its annual reports and disclosure
documents.
Mineral Resources, Ore Reserve Estimates and Exploration Targets and Results are calculated in accordance with the JORC
Code. Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of the Company in this
announcement comply with the JORC Code (such JORC Code-compliant Ore Reserves and Mineral Resources being "Ore
Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries. The JORC
Code is an acceptable foreign code under NI 43-101. Information contained in this presentation describing mineral deposits
may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements
of US securities laws, including Item 1300 of Regulation S-K. All technical and scientific information in this presentation has
been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and has been reviewed on behalf
of the Company by Qualified Persons, as set forth above.
This presentation contains references to estimates of Mineral Resources and Ore Reserves. The estimation of Mineral
Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are
not Ore Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity
and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation,
which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences
that may ultimately prove to be inaccurate. Mineral Resource estimates may require re-estimation based on, among other
things: (i) fluctuations in the price of gold; (ii) results of drilling; (iii) results of metallurgical testing, process and other studies;
(iv) changes to proposed mine plans; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the
possible failure to receive required permits, approvals and licenses.
Investment Risk
As noted above, an investment in shares in Westgold is subject to investment and other known and unknown risks, some of
which are beyond the control of Westgold. Westgold does not guarantee any particular rate of return or the performance of
Westgold, nor does it guarantee the repayment of capital from Westgold or any particular tax treatment. Prospective investors
should have regard to the risks outlined in this presentation when making their investment decision and should make their own
enquires and investigations regarding all information in this presentation, including but not limited to the assumptions,
uncertainties and contingencies which may affect future operations of Westgold and the impact that different future outcomes
may have on Westgold. These risks, together with other general risks applicable to all investments in listed securities not
specifically referred to, may affect the value of shares in Westgold in the future. There is no guarantee that the Westgold shares
will make a return on the capital invested, that dividends will be paid on the Westgold shares or that there will be an increase in
the value of the Westgold shares in the future. Accordingly, an investment in Westgold should be considered highly speculative
and potential investors should consult their professional advisers before deciding whether to subscribe for Westgold shares.
Effect of Rounding
A number of figures, amounts, percentages, estimates and calculations of value in this presentation are subject to the effect of
rounding. The actual calculation of these figures may differ from the figures set out in this presentation.
Disclaimer
Neither Westgold nor any of its advisers, affiliates, related bodies corporate, directors, officers, partners, employees or agents,
have authorised, permitted or caused the issue, submission, dispatch or provision of this presentation and, except to the
extent referred to in this presentation, none of them makes or purports to make any statement in this presentation and there is
no statement in this presentation which is based on any statement by any of them. To the maximum extent permitted by law,
Westgold and its advisers, affiliates, related bodies corporate, directors, officers, partners, employees or agents exclude and
disclaim all liability, for any expenses, losses, damages or costs incurred by you and the information in this presentation being
inaccurate or incomplete in any way for any reason, whether by negligence or otherwise. To the maximum extent permitted by
law, Westgold and its advisers, affiliates, related bodies corporate, directors, officers, partners, employees or agents make no
representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this
presentation and the statements made in this presentation are made only as at the date of this presentation (unless otherwise
indicated). The information in this presentation remains subject to change without notice.
To the maximum extent permitted by law, Westgold and its advisers, affiliates, related bodies corporate, directors, officers,
partners, employees or agents each expressly disclaims any and all liability, including, without limitation, any liability arising
out of fault or negligence for any loss arising from the use of or reliance on information contained in this presentation, including
representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions,
forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this
presentation including, without limitation, any financial information, any estimates or projections and any other financial
information derived therefrom.
Westgold
ASX 100goldproducer
4
5
ASX:WGX - Westgold overview
US$3.7B
Market Capitalisation
US$1.1B
Available Liquidity
14.4Moz
Mineral Resources1
4.1Moz
Ore Reserves1
385 – 425koz
FY27 Production Guidance2
US$2,047 - 2,322/oz
FY27 AISC Guidance2
4 operating hubs, long life assets, organic growth
460 – 510koz
FY29 Production Guidance2
US$1,813 - 2,061/oz
FY29 AISC Guidance2
1. Refer to the Company’s ASX announcement titled “2026 Mineral Resource Estimate and Ore Reserves” dated 20 August 2026 for further information;
2. Refer to the Company’s ASX announcement titled “FY27 Guidance and Three-Year Outlook” dated 9 September 2026 for further information.
Strong platform forgrowth
6
300kozpa now behind us
7
US$131M US$132M
US$181M
US$250M
US$645M
FY22 FY23 FY24 FY25 FY26
+49% p.a.
…and record treasury build
-1,000
-500
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
FY22 FY23 FY24 FY25 FY26
1,649
1,756
2,153
3,013
4,285
1,162
1,373
1,496
1,831
1,951
-1,000
-800
-600
-400
-200
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
2,600
2,800
3,000
3,200
3,400
3,600
3,800
4,000
4,200
4,400
AISC Margin
AISC (US$/oz)
Achieved
gold price (US$/oz)
Turnaround sees margins and production increasing
271koz
257koz
228koz
326koz
387koz
Gold Production (koz) Treasury1 @ June 30 (US$M)
Record production,
exceeded top end of
FY26 Guidance
1. Cash, bullion and liquid investments
Long life mining assets – 10-year Reserve life1
8
Mineral Resources and Ore Reserves2(Moz)
2.3
6.7
5.4
Mineral Resources
0.9
3.2
Ore Reserves
Proven
Probable
Measured
Indicated
Inferred
14.4
4.1
Significant
conversion
potential
Added 1.5Moz
of gross
Reserves at
US$19/oz in
FY26
Our key mines are long life1
1. Reserve life has been calculated from Ore Reserve ounces as at 30 June 2026 for the associated mine and dividing it by its corresponding contained ounces mined in FY26. Great Fingall mine life was sourced from the Great Fingall FID (refer to ASX
announcement titled “Great Fingall Approved for Development” dated 9 August 2023) as the mine was not in commercial production in FY26. In the case of Westgold’s Reserve life, total ore reserves have been divided by FY26 production; 2. Mineral
Resource and Ore Reserves as at 30 June 2026. Refer to “Ore Reserves and Mineral Resources” section in slide 3 for further information. Refer to the Company’s ASX announcement titled“2026 Mineral Resource Estimate and Ore Reserves” dated 20
August 2026 for further information.
500kozpa milestone ahead
9
>US$103M
Exploration + resource
definition2
Across the Three-Year
Outlook
4
Operating hubs
5.8Mtpa installed capacity
4.1Moz
Group Ore Reserve1
+41% during FY26, post asset
sale adjustments
Fully funded
Organic growth plan
Investment ahead of
production
Record production, growing reserves and updated mine-plan provide tangible runway to +600kozpa
1. Refer to the Company's ASX announcement titled "2026 Mineral Resource Estimate and Ore Reserves" dated 20 August 2026 for further information; 2. This reflects the current intentions of the Company and is subject to operational priorities, market conditions and Board
approval. Accordingly, this planned investment may be subject to change.
The4-5-6 Strategy
Fully fundedorganic growthplan
10
Westgold’s 4-5-6 Strategy1
11
US$2,047/oz US$2,061/oz
US$1,813/oz
US$2,322/oz US$2,335/oz
US$2,061/oz
FY27 Guidance FY28 FY29 +Fletcher
385-425koz
425-470koz
460-510koz
>600koz
~9% CAGR
Group Production AISC Lower (US$/oz) AISC Upper (US$/oz)
4
OPERATING HUBS
Across the Murchison and Southern Goldfields of
Western Australia.
5
~500kozpa BY FY29
A detailed plan to lift production of its operating
hubs to circa 500,000oz per annum and reduce
costs
6
+600kozpa PATHWAY
A fully funded pathway beyond 600,000oz per
annum.
1. Refer to the Company’s ASX announcement titled “FY27 Guidance and Three-Year Outlook” dated 9 September 2026 for further information.
The Murchison – bigger mines need bigger mills
12
More mining fronts + optimised feed grades + expanded processing capacity
CUE HUB1
1.4Mtpa → 1.7Mtpa
CXP commissioned Q1, FY28
MEEKATHARRA HUB2
1.8Mtpa → 2.9Mtpa
MXP targeted by mid FY28
DELIVERABLES
7.2Mtpa Group
Processing Capacity
by FY29
Increased ore
optionality
Lower unit
processing costs
across Murchison
CXP and MXP are fully funded brownfield expansions of existing hubs to add approximately 1.4Mtpa to group
processing capacity.
Great Fingall + Big Bell Deeps
Higher-grade feed for the Cue hub
Murchison Open Pit Program
Strategic ore inventories ahead of the mills
Bluebird-South Junction
1.2Mtpa mining rate targeted during FY27
Polar Star
Next mining front at Bluebird-South Junction
scheduled to contribute from FY29
1. Refer to the Company's ASX announcement titled "Cue Hub Expansion to 1.7Mtpa in FY28" dated 5 August 2026; 2. Refer to the Company's ASX announcement titled "2.9Mtpa Meekatharra Expansion Plan" dated 25 August 2026.
Defined milestones support delivery through FY29
13
FY27 FY28 FY29
CXP
MXP
Fletcher Zone
HXP
Polar Star
Big Bell Deeps
Engineering/Construction
Engineering/Construction
Development
Development
Production
Production
Murchison
Southern
Goldfields
DFS
Haulage Study
2.9Mtpa Capacity
1.7Mtpa Capacity
DFS, FID and early works
Key projects and their timing to affect the 3-Year Outlook (3YO)
FY26
Cue Hub
1.4Mtpa
Meekatharra Hub
1.8Mtpa
Drilling
Drilling
Drilling
Under review
Fletcher and
HXP upside
to 3YO
Committed to growth + shareholder returns
14
$65M
$18M
FY24 FY25 FY26 FY272
US$7M
US$19M
US$83M
$14M2
+175%
+329%
Share Buy Back
Dividends declared
FY26 dividend of 6.9cps is 400% above the minimum annual
dividend commitment of 1.4cps in FY26
Total payment of US$65M - representing 16% of FY26 free
cash flow of US$414M
US$83M in total Shareholder Capital Returns for FY261
6.9cps Fully Franked Dividend
1. Refer to the Company’s ASX announcement titled “Westgold delivers $122M in FY26 Shareholder Capital Returns”
dated 28 August 2026 for further information.
2. As at 24 September 2026
3. Annual dividend typically determined in August after the end of the financial year.
US$34M on-market share buy-back for FY27
approved
US$14M already completed
Extension between 11 Sep 2026 – 10 Sep 2027
On-market ASX purchases, at Board discretion
TBD3
Theupside
15
Beyond4-5-6
4-5-6 Upside
16
The 3YO is an executable baseline – the upside is tangible
Murchison
Latest open pit drilling delivers new
targets
Big Bell South + Paddy's Flat North under
evaluation
Murchison
Polar Star outperformance above
current mine schedule
Current schedule assumes ≈500ktpa from
FY29
Murchison
Fortnum Expansion Plan activated
Potential to bring forward open-pit inventory
Murchison
Big Bell Deeps – starts before
planned FY28 inclusion
Earlier higher-grade contribution remains
possible
Southern Goldfields
Fletcher starts before FY30
≈140kozpa conceptual steady-state
opportunity
Wildcards
Two Boys & Fender UG extensions
and/or new discoveries
No additional Resource conversion or new
business-development upside
Current 3YO does not include any of this upside.
Southern Goldfields – pushes Group to +600kozpa
17
Fletcher Zone @ Beta Hunt the driver
1.1Moz
Maiden Ore Reserve1
3.0Moz
Updated Mineral Resource1
≈140kozpa
Conceptual steady-state addition
>600kozpa
Potential Group production platform
7 drill rigs operating today at Beta
Hunt
1. Refer to the Company's ASX announcement titled "1.1Moz Maiden Fletcher Ore Reserve" dated 18 August 2026.
Optimising the Southern Goldfields
18
DEFINE
Scale + continuity
• Resource definition
drilling
• Mine-plan inventory
• Mason continuation
PLAN
Mine optimisation
• Mine to surface
haulage
• Development
sequence
COMPARE
Processing pathways
• Capacity and capital
trade-offs
• Higginsville: existing
hub
• Spargos: reduced
haulage
SELECT
Preferred configuration
• Whole-of-group
economics
• Capital + schedule
• Risk and optionality
DELIVER
Development pathway
• Approvals and FID
• Early works
• Ramp-up sequence
Value gappresents opportunity
19
Globally significant investment value proposition
20
Highly attractive value
proposition with
significant leverage to
the gold price
30,575
27,259
24,230
20,520
18,175
15,713 15,183 14,622
13,587
12,859
12,002 11,649 11,161
8,221
7,141 7,080
Westgold’s growth is mispriced
1. FY27e production sourced from S&P CIQ. Westgold production based on 3-year outlook midpoint. Market capitalisations as at 25 September 2026 sourced from FactSet. Vault Minerals excluded as it is subject to a takeover.
2. Peer set comprised of ASX and TSX listed, gold producers with market capitalisation greater than A$5B excluding Vault Minerals due to current M&A activity
EV/Production (FY27e)1,2 – ASX and TSX gold peers (US$/oz)
A leading FCF yield opportunity
21
25%
18%
14% 14%
12%
11% 11% 11%
10% 9% 9%
8% 7% 7% 7%
4%
Forecast FCF Yield – ASX and TSX gold peers (FY29e)1,2
1. FY29e FCF sourced from S&P Visible Alpha. Westgold FCF based on 3-year outlook using a A$6,000/oz gold price. Market capitalisations as at 25 September 2026 sourced from FactSet. Vault Minerals excluded as it is subject to a
takeover. FY29e FCF yield calculated as F29E FCF/current market capitalisation.
2. Peer set comprised of ASX and TSX listed, gold producers with market capitalisation greater than A$5B excluding Vault Minerals due to current M&A activity
WhyownWestgold?
22
So why own Westgold?
23
UNDERVALUED
TODAY
Peer discount across
Reserve, EV and
earnings metrics
ENTRY POINT
PROVEN
3 operating mines
that have delivered
>1Moz
FUNDED
GROWTH
Brownfield
expansions paid for
through available
liquidity
RESERVE
CONVERSION
26 rigs active
>US$103M
investment in
exploration and
resource definition to
FY29
Sector leading FY26
discovery cost of
US$19/oz of Reserve
SCALE +
LOWER COSTS
Cashflow needs
Scale & Margin
Substantial scale and
margin right now -
387koz in FY26
~500kozpa by FY29
with a falling AISC
RE-RATE
POTENTIAL
Growth + returns + upside
CATALYSTS
Self funding growth and returns to shareholders
Westgold 4-5-6
24
4
OPERATING HUBS
Long-life Western Australian assets
with established infrastructure
5
~500kozpa BY FY29
Fully funded brownfield growth with
lower AISC expected
6
>600kozpa PATHWAY
Fletcher and tangible upside beyond
the current Three-Year Outlook
DELIVERY FUNDS GROWTH | GROWTH EXPANDS MARGINS | CASH FLOW SUPPORTS SHAREHOLDER RETURNS
A simple strategy to deliver value to shareholders
www.westgold.com.au 25
Investor Relations
Kasun Liyanaarachchi
Group Manager Investor Relations & Communications
Kasun.Liyanaarachchi@westgold.com.au
+61 458 564 483
Media
Annette Ellis
Manager Corporate Affairs
Annette.Ellis@westgold.com.au
+61 458 200 039
ASX:WGX–Afullyfundedorganicgrowthplan
Appendix
ASX:WGX-liquid unhedgedASX100goldproducer
ASX:WGX - liquid & unhedged ASX100 gold producer
Shares Outstanding1 944.1M
Average daily trading volume2 3.7M
Market Capitalisation2 US$3.7B
Cash, bullion & liquid investments3 US$645M
Available Debt facility US$412M
Shareholder composition4
Broker coverage
10%
6%
6%
6%
6%
50%
17%
Other Instutional
Retail
1. As at 26 Aug 2026; 2. As at 23 Sept 2026 from NASDAQ IR Insight; 3. As at 30 June 2026; 4. As at 31 August 2026 27
34%
15%
30%
4%
Institutional
Holdings
Australia
Europe
North America
Rest of World
83%
Board of Directors
Hon. Cheryl Edwardes AO Independent Non-Executive Chair
Wayne Bramwell Managing Director and CEO
Fiona Van Maanen Independent Non-Executive Director
David Kelly Independent Non-Executive Director
Shirley In’t Veld Independent Non-Executive Director
Ivan Mullany Independent Non-Executive Director
Westgold Management
Tommy Heng Chief Financial Officer
Aaron Rankine Chief Operating Officer
Erin Bethel General Counsel
Simon Rigby Chief Growth Officer
Melissa Wren Chief People Officer
Adam Mayer Chief Safety and Sustainability Officer
Leigh Devlin Chief Technical Officer
Susan Park Company Secretary
28
Organic Expansion
Selffundedgrowth
29
Bigger mills drive stronger economics
Cue Hub1 Meekatharra Hub2 Higginsville Hub3
1.4Mtpa → 1.7Mtpa
21% increase in capacity
15kozpa production uplift
US$15M indicative capital
10 months payback
1.8Mtpa → 2.9Mtpa
61% increase in capacity
47koz
Share your feedback
Discover