Announcement PDF Westgold Resources Limited BMO Global Conference – Introducing Westgold Wayne Bramwell | MD & CEO ASX:WGX | OTCQX:WGXRF westgold.com.au Disclaimer Compliance Statement Forward-looking Statements The information in this report that relates to Exploration Results is compiled by Westgold technical employees and contractors under the supervision of Mr. Simon Rigby B.Sc. (Hons), who is a member of the Australian Institute of Geoscientists. Mr Rigby is a full-time employee of the company 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rigby consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Mr Rigby is eligible to participate in short- and long-term incentive plans of the company. These materials prepared by Westgold Resources Limited (or “the Company”) include forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. The information in this report that relates to 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. Mr Russell is a full time employee of the Company, 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Russell consents to the inclusion in this report 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 the company. The information in this report that relates to Ore Reserve Estimates is based on information compiled by Mr. Leigh Devlin, B.Eng MAusIMM. 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Devlin consents to the inclusion in this report 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 the Company and is eligible to, and may participate in short-term and long-term incentive plans of the Company as disclosed in its annual reports and disclosure documents. Mineral Resources and Ore Reserve Estimates Information in this presentation relating to Mineral Resource and Ore Reserve estimates is extracted from the ASX release “2023 Resource and Reserves Statement” dated 11 September 2023. Westgold confirms that it is not aware of any new information or data that materially affects the information included in these announcements and that all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates continue to apply and have not materially changed. Westgold confirms that the form and context in which the competent persons’ findings are presented in this document have not been materially modified from the original market announcements Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances. 2 Introducing Westgold 100% West Australian Gold Producer In FY23 Westgold produced 257koz of profitable ounces @ US$1,367/oz AISC Balance sheet strength - US$163M in cash and bullion @ 31 December 2023 Debt free and fully leveraged to the gold price Western Australia Perth Large tenure with substantial organic growth potential Owner miner with inhouse mining and drilling capability Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) Florida (for approx. scale) 3 Now generating free cash flow Fourth consecutive quarter of cash flow generation +$14M +$17M +$17M +$6M 163 148 132 +$54M 115 109 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Closing Cash, Bullion & Liquids position (US$M) Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) 4 Westgold is a portfolio company Starlight 4Mtpa milling capacity in gold camp endowed with >35Moz of gold  3 Operating processing plants Western Australia  4 Operating underground mines  In development - Great Fingall UG  500 mi2 of highly prospective exploration ground  8.3Moz Mineral Resource – 2.0Moz Ore Reserve Big Bell Fortnum Cue Bluebird Meekatharra Fender Perth LEGEND Great Fingall Gold Processing Plant Opera�ng Mine Development Project Westgold Tenements Gold Occurrence Bryah/Padbury Basin Greenstones Granite 5 Corporate Snapshot Westgold share price movement in 20232 1.6 Shares on Issue1 473.6M Rights on Issue1 9.3M 12 Month Trading Range2 US$1.53 – US$0.62 Avg Liquidity / day2,3 ≈2.0M shares Cash and Bullion1 US$163M Debt1 Nil US$/share Corporate Structure 1.4 1.2 1.0 +123% 0.8 0.6 Jan 23 Mar 23 May 23 Jul 23 Sep 23 Nov 23 Jan 24 Major Shareholders Broker Coverage 75% Others 25% 75% Institutions Other Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historicaldata.html) 1. As at 31 December 2023; 2. As at 13 February 2024; All currency is AUD unless stated otherwise; 3. Average calculated over 90 Days 52% Australia 25% North America 21% Europe 3% 6 Shallow, long-life underground mines We continue to invest in drilling 7 High quality organic growth opportunities High potential greenfield prospects Mine restart opportunities In Development In Operation >4 3 1 4 High priority drilling targets Mines with existing infrastructure undergoing commercial evaluation The next generation Making our existing mines bigger Fingall Dolerite Boomerang - Kurara Peak Hill Mining Area Tuckabianna – Causton's Big Bell UG Paddy’s Flat UG South Emu-Triton UG Comet UG Great Fingall UG Bluebird UG Starlight UG Fender UG 8 Owner miners who drill Our owner mining fleet, drills and workforce gives us an advantage in a tight labour market Over 124 pieces of mining and drilling equipment with an indicative replacement value of ~US$137M Westgold employs +1,000 staff across its operations Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) 9 We think pragmatically about sustainability 82MW of hybrid power now in operation These hybrid facilities will: Reduce diesel consumption by 10 million gallons per annum Reduce carbon emissions by 56% Deliver ≈US$41/oz in AISC savings1 Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) 10 Debt free and no fixed forward gold contracts Structuring to enhance profitability Achieved Gold Price 2,500 2,080 2,000 US$/oz 1,500 1,000 AISC Margin 544 500 Q3 FY22 0 Q4 FY22 Q1 FY23 Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 11 Westgold’s priorities for FY24 5 Sensibly invest in technology that drives cost reduction 3 Continue to increase mine life of our existing mines 1 Continue to safely and efficiently optimize our assets 2 Continue free cash flow generation 4 Continue to invest in resource development and exploration 6 Assess and advance growth opportunities aligned to core capabilities 12 Westgold - a compelling investment opportunity We’re Profitable Now Generating Free Cash Unhedged and No Debt 2,57koz @ AISC US$1,367/oz US$163M in cash and bullion as at 31 Dec 2023 We’re debt free and fully leveraged to the gold price in FY23 Owner Operators Untapped Potential Unmatched underground capability through our Substantial organic growth potential with Mineral in-house mining fleet, drills and workforce Resource of 8.3Moz and Ore Reserve of 2.0Moz Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) 13 Contact Information: Thank you. Investor Relations Kasun Liyanaarachchi | Investor Relations Manager kasun.liyanaarachchi@westgold.com.au +61 458 564 483 Media Peter Knight | Communications Advisor peter.knight@westgold.com.au +61 459 980 481 ASX: WGX | OTCQX: WGXRF westgold.com.au Appendices Westgold’s mining operations 15 Starlight UG mine Mine statistics Mining method Mine life Indicative mine scale # diamond drills operating LHOS ~4 years 600 ktpa 3 Growth 3.5 Nightfall lode is higher grade than Starlight Lode 3.1 3.0 2.5 2.2 2.0 1.5 136 2.5 163 350 300 250 2.1 154 147 200 100 0.5 50 0.0 0 Q4 FY23 Q1 FY24 Ore Mined (kt) Grade (g/t) Q2 FY24 Starlight 150 1.0 Q3 FY23 Nightfall Starlight has produced over 1Moz since inception 16 Bluebird UG mine Mine statistics LHOS ~3 years 480 ktpa 4 Mining method Mine life Indicative mine scale # diamond drills operating South Junction pit Growth South Junction expansion opportunity 5 4 3.7 139 3 2 4.3 103 250 4.4 126 3.3 200 126 150 100 1 50 0 0 Q3 FY23 Q4 FY23 Q1 FY24 Ore Mined (kt) Grade (g/t) Q2 FY24 Bluebird pit Bluebird and South Junction combined has produced over 1Moz of gold 17 Big Bell UG mine Mine statistics Current sub level cave SLC and LHOS ~16 years 1 Mtpa 1 Mining method Mine life Indicative mine scale # diamond drills operating Long Hole Open Stoping expansion Growth LHOS to increase Big Bell grade 3.0 2.7 2.8 2.3 2.5 2.0 1.5 271 290 286 2.5 500 400 275 300 200 1.0 0.5 100 0.0 0 Q3 FY23 Q4 FY23 Q1 FY24 Ore Mined (kt) Grade (g/t) Q2 FY24 Big Bell has produced over 3Moz of gold 18 Fender UG mine Mine statistics LHOS ~3 years 330 ktpa 1 Mining method Mine life Indicative mine scale # drills operating 2.0Growth Drill lateral and depth extensions 1.7 20 1.5 15 1.0 15 10 0.5 0.0 25 5 Q3 FY23 Q4 FY23 Q1 FY24 Ore Mined (kt) Grade (g/t) Q2 FY24 0 Fender was restarted and brought back into production in Q2 FY24 19 Great Fingall Project Golden Crown UG (1983-1996) 288koz @ 13.80g/t Au Statistics Mining method LHOS Mine life ~8 years # diamond drills operating 1 Expected first production H1 FY25 Expected steady state Production Expected steady state All-In Cost +45koz pa Golden Crown Great Fingall OP (1995-2018) 137koz @ 1.55g/t Au Great Fingall UG (1891-1929) 1.2Moz @ 19.50g/t Au US$1,232/oz Growth  Potential to access flat lying structures in H2 FY24  Development rates tracking ahead of Feasibility study rates Exchange: A$1.00=US$0.684 as at 31 December 2023 (source: https://www.rba.gov.au/statistics/historical-data.html) Great Fingall Great Fingall is Westgold’s next mine, providing a pathway to +300koz per year for the Group. 20 1 Mineral Resource Statement – At 30 June 2023 Murchison Operations (Rounded for reporting) Measured Indicated Tonnes ('000s) Grade Big Bell 5,498 3.08 Ounces Au ('000s) 544 Cuddingwarra 85 1.66 Day Dawn 58 Tuckabianna Inferred Tonnes ('000s) Grade 9,917 3.23 Ounces Au ('000s) 1,030 5 1,600 1.63 1.73 3 3,776 267 3.54 30 Tuckabianna Stockpiles 481 1.64 Meekatharra North 0 Nannine Total Tonnes ('000s) Grade 8,942 2.73 Ounces Au ('000s) 785 Tonnes ('000s) Grade 24,357 3.01 Ounces Au ('000s) 2,358 84 597 1.50 29 2,282 1.59 117 4.63 562 2,339 4.29 322 6,173 4.47 887 3,448 2.78 308 2,899 2.63 245 6,614 2.75 584 25 3,744 0.70 85 0 0.00 0 4,225 0.81 110 0.00 0 97 1.98 6 75 2.11 5 172 2.04 11 68 2.55 6 859 2.06 57 340 2.26 25 1,267 2.14 87 Paddy's Flat 1,033 4.03 134 10,593 1.70 579 2,415 1.86 144 14,042 1.90 857 Reedy's 458 3.74 55 3,055 2.55 251 8,883 2.44 698 12,396 2.52 1,004 Yaloginda 745 4.30 103 7,737 1.93 481 6,981 1.48 332 15,464 1.84 916 Bluebird Stockpiles 656 1.50 32 0 0.00 0 0 0.00 0 656 1.50 32 Total 9,350 3.11 936 44,827 2.39 3,441 33,472 2.40 2,585 87,649 2.47 6,963 Project Bryah Operations (Rounded for reporting) Measured Indicated Tonnes ('000s) Grade Fortnum 1,019 3.53 Ounces Au ('000s) 116 Horseshoe 0 0.00 Peak Hill 0 Stockpiles Total Project Inferred Tonnes ('000s) Grade 4,446 2.50 Ounces Au ('000s) 357 0 1,266 2.09 0.00 0 7,547 846 0.94 25 1,865 2.36 141 Total Tonnes ('000s) Grade 2,078 3.05 Ounces Au ('000s) 204 Tonnes ('000s) Grade 7,543 2.79 Ounces Au ('000s) 677 85 183 1.43 8 1,449 2.01 93 1.55 376 1,838 1.78 105 9,385 1.60 481 464 0.70 10 16 0.54 0 1,326 0.85 36 13,724 1.88 828 4,115 2.40 318 19,704 2.03 1,287 1. Refer ASX Announcement 11 September 2023 – Resources and Reserve Statement. The Company 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 Mineral Resource and Ore Reserve estimates in that announcement continue to apply and have not materially changed. 21 1 Ore Reserve Statement – At 30 June 2023 Murchison Operations (Rounded for reporting) Proven Probable Total Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) 3,573 2.85 327 6,270 3.31 668 9,843 3.14 995 Cuddingwarra 0 0.00 0 98 1.77 6 98 1.77 6 Day Dawn 0 0.00 0 1,944 5.08 317 1,944 5.08 317 Tuckabianna 0 0.00 0 683 3.00 66 683 3.00 66 Tuckabianna Stockpiles 481 1.64 25 3,744 0.70 85 4,225 0.81 110 Meekatharra North 0 0.00 0 0 0.00 0 0 0.00 0 Nannine 0 0.00 0 262 1.93 16 262 1.93 16 Paddy's Flat 117 3.54 13 420 3.47 47 538 3.48 60 Reedy's 57 3.35 6 398 3.42 44 455 3.41 50 Yaloginda 192 5.10 31 566 4.81 88 757 4.89 119 Bluebird Stockpiles 656 5,076 1.50 2.67 32 435 0 14,384 0.00 2.89 0 1,335 656 19,461 1.50 2.83 32 1,770 Project Big Bell Total Bryah Operations (Rounded for reporting) Proven Probable Total Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Fortnum 403 2.82 37 1,172 2.29 86 1,576 2.42 123 Horseshoe 0 0.00 0 357 2.18 25 357 2.18 25 Peak Hill 0 0.00 0 0 0.00 0 0 0.00 0 Stockpiles 846 0.94 25 464 0.70 10 1,310 0.85 36 Total 1,249 1.54 62 1,994 1.90 122 3,243 1.76 184 Project 1. Refer ASX Announcement 11 September 2023 – Resources and Reserve Statement. The Company 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 Mineral Resource and Ore Reserve estimates in that announcement continue to apply and have not materially changed. 22