SCP-RF

Power supply MoU with Malawi utility ESCOM for grid hydropower supports Kasiya development

Zgounder exploration delivers high grade zones to manage mine plan, new regional prospects

Joaquin drilling delivers with bulk hits incl 23m @ 268g/t AgEq, new discovery at Brunilda

Carmenes delivers on gold potential with 46m @ 1.08g/t Au including high-grade 4m @ 6.27g/t

Tower PEA: 273koz pa, ~C$3.3bn, 24% IRR at ~spot; tighter MRE constraints & ‘real world’ costing

Enchi infill drilling continues to deliver high grade into sulphides at Boin incl. 24m @ 4.4g/t

TZ 1Q25 $36m FCF generation despite 1Q25 production shortfall; 2025 guidance reiterated

Valley adds 1.5Moz from 2024 drilling to 8.8Moz MRE; 7.9Moz @ 1.2g/t now in M&I ahead of PEA

Regional drilling continues to showcase gold across the camp ahead of the upcoming DFS

Investor site tour: McCreedy West ramp up underway while Levack upside comes into focus

1Q25: Zgounder hits cash flow inflection, we estimate SCPe US$33m FCF in remainder of 2025

Peters Mine: 76m @ 1.5g/t near surface and 3.0m @ 12.5g/t in early scout drilling signals growth