Infinity Corporate Finance Partners for Growth

Infinity Corporate Finance Partners for Growth 2023 Level 25, 108 St Georges Terrace Perth, WA 6000

Overview Overview We offer custom analytical decision support services to asset owners, investors and advisors focussed on mining and infrastructure industries What we do Decision makers need clear and balanced information to guide their investment decisions and recommendations Context Data is abundant, but information is scarce, and extracting information from data is a specialized skill We build and maintain live customised financial models and analysis which focus on critical information to support decision making Our Approach Your Partner of Choice in driving outperformance and value creation through informed and disciplined capital allocation

Your Partner of Choice Your Partner of Choice Value creation through custom analysis What we provide Benefits to you Specialised, flexible, in-house decision support Investments: screening & analysis Independent review Studies: valuation & optimisation Credible industry experience Funding: structuring & execution Business planning, capital budgeting, commercial analysis Time and cost efficiencies

Where we fit in Where we fit in - - Asset Owners Asset Owners We guide critical decision-making through the development cycle Funding Construction Operation Studies Assessment and optimisation of scoping, PFS and DFS Specialised in-house funding resource Performance optimisation Support transition to operations Strategic options and Life- Of-Mine (LOM) analysis Full input and assumption review via model build process and working closely with technical advisors Project and corporate financing strategies, capital structure, debt sizing and structuring Debt facility compliance & reporting, drawdowns Improved efficiencies via Business Planning/budgeting processes and tools Transition funding model into operational model by incorporating actuals, Chart of Accounts, reporting functionality to allow budget tracking Fully customised project and investment metrics dashboard Facilitate interactions with financial & technical advisors, lenders and investors Budget performance tracking and reporting Identification of optimisation opportunities wrt production plans, CAPEX, OPEX, funding Optimising capital allocation through a capital budgeting and investment framework Streamlined funding process incl. full function lender models, accelerated DD, dataroom & pitch document preparation Operational readiness Financial model maintenance and updates Developing strategies to manage key risks through scenario and sensitivity analysis Multi-asset and consolidated corporate models Evaluating & comparing multiple financing proposals Commercial and contract analysis Supporting execution and financial close www.infinitycorp.com.au | Level 25, 108 St Georges Terrace, Perth, WA 6000 ABN: 48 277 232 342

Where we fit in Where we fit in Investor/Advisor Investor/Advisor Adding value to your team and business Financiers and other Investors Advisors Resourcing for engineering firms compiling project studies, and financial advisors raising funds for clients Compliment to internal capability and resources for credit funds, Government institutions, banks, equity and other financial investors Fully customised, project specific study models aggregating all study data, and providing key project and investment metrics Opportunity screening for business development including industry analysis, peer analysis, DCF and relative valuations Seamless translation and linking of engineering and technical data from detailed estimations to financial model inputs Build custom models from feasibility or other data to investigate funding and investment opportunities Evaluation of financial impacts different development and commercial options and assists in identifying the optimal development strategy Integrity and functionality review of existing models Running scenarios and generating credit metrics for internal processes and approvals Scenario and sensitivity analysis of key value drivers to quantify financial impacts and understand project risks Propose and structure investment and funding strategies for specific investment objectives and mandates Advise funding implications of project development strategy Prepare business cases for executive and Board approval Working with financial advisors to develop funding structures and funding model, as well as ongoing transaction support www.infinitycorp.com.au | Level 25, 108 St Georges Terrace, Perth, WA 6000 ABN: 48 277 232 342

About us About us Chethan Nooji Byron Benvie Director Director +61 (0) 414 708 622 +61 (0) 420 826 050 cnooji@infinitycorp.com.au bbenvie@infinitycorp.com.au linkedin.com/in/chethan-nooji linkedin.com/in/byron-Benvie Chethan Mining industry experience and has spent the last 12 years in developing and funding a range of energy and mining projects in Australia, India, Africa and South East Asia. He has thorough understanding of debt finance requirements of Commercial Banks, multilateral agencies, credit funds and export credit agencies. has over 15 years of Infrastructure, Energy and Byron has over 20 years of Mining and Resources industry experience and has spent the last 10 years of his career reviewing and making strategic investment, planning, funding, and development recommendations on a range of mining projects. With a multidisciplinary background, he has a thorough understanding of the technical, financial, and commercial aspects of mining companies and projects from a range of perspectives (financiers, investors, owner). Chethan holds an MBA in Finance and has a Bachelor of Engineering in Chemical Engineering. Byron is a CFA Charterholder and holds an Honours degree in Geology. Key transactions: Key transactions: A$250 million financing of Heron Resources Ltd s Woodlawn Project US$220M Senior debt restructure (Tiger Resources) US$175 million debt financing of Sheffield Resources Ltd s Thunderbird Project US$100M Corporate facility from Investec (Resolute Mining) Technical Agency role for a bank and ECA lender group in the US$7.2BN Roy Hill Project Financing US$850 million project finance for a power project in Zambia, Africa. Several other Corporate and Project financings worth in excess of US$1B Several other debt and equity transactions of renewable and non- renewable power projects aggregating over US$500 million www.infinitycorp.com.au | Level 25, 108 St Georges Terrace, Perth, WA 6000 ABN: 48 277 232 342

Our Experience Our Experience Thunderbird Project Western Australia Infrastructure Project Western Australia Nolans Rare Earth Project NT, Australia Abujar Gold Project Cote d Ivoire Feasibility studies, Project funding (AUD315M debt from Orion and NAIF), post transaction support DFS evaluation and optimisation Project funding Feasibility studies, options analysis Project funding Project funding (NAIF c.AUD95M) Arafura Rare Earths Ltd ASX: ARU Tietto Minerals Ltd ASX: TIE Kimberley Mineral Sands Water Corporation Nifty Copper Project Western Australia Karratha Magnesium Project Western Australia Arcadia Lithium project Zimbabwe Energy Infrastructure Australia DFS modelling and optimisation Project funding Development of evaluation tools for renewables, gas and transmission investments DFS optimisation, ultimate asset sale for USD388M Project funding Prospect Resources Ltd ASX: PSC APA Group ASX: APA Cyprium Metals Ltd ASX: CYM EcoMag Ltd www.infinitycorp.com.au | Level 25, 108 St Georges Terrace, Perth, WA 6000 ABN: 48 277 232 342

Our Experience Our Experience Honeymoon Uranium Project South Australia Mandilla Gold Project Western Australia Diamba Sud Gold Project Senegal Sanankoro Gold Project Mali Feasibilities studies, offtake analysis Project funding (AUD 125m equity) Scoping study, ongoing updates DFS evaluation and optimisation Scoping study evaluation Chesser Resources Ltd ASX: CHZ Astral Resources Ltd ASX: AAR Boss Energy Ltd ASX: BOE Cora Gold AIM: CORA.L Mineral Sands and Graphite Projects Kipoi Copper Project DRC Kayelekera Uranium Project Malawi Corporate Development Business planning, cash management, funding, restructuring, asset sale Business planning, corporate model, scoping and feasibility studies Opportunity screening, analytical support for stakeholder updates Restart study evaluation and optimisation Mineral Commodities Ltd ASX: MRC Sheffield Resources Ltd ASX: SFX Tiger Resources Ltd ASX: Delisted Lotus Resources Ltd ASX: LOT www.infinitycorp.com.au | Level 25, 108 St Georges Terrace, Perth, WA 6000 ABN: 48 277 232 342

Our Experience Our Experience Lake Way Potash Project Western Australia Corporate Development Potential transaction and funding analysis BFS and optimisation Project funding USD138M Develop Global Limited ASX: DVP Salt Lake Potash Ltd ASX: Delisted Client references Mark Di Silvio (CFO, Sheffield Resources) Mathew O'Hara (CFO, Boss Energy) Michael Ball (CFO Lotus Resources) Nick Harch (MD, Orimco) Patrick Leung (Principal, Naust Capital) Peter Sherrington (CFO, Arafura Resources) Russell Lamb (Head of Infrastructure Markets, Water Corporation) Stewart Watkins (GM Projects, Arafura Resources) Sujin Yu (Project Analysis Manager - Corporate Finance, APA) Adam Bick (CFO, Mineral Commodities) Andrew Grove (CEO, Chesser Resources) Brendon Morton (CFO, Astral Resources) Duncan Craib (MD, Boss Energy) Grant Coyle (MD, Cashmere Iron) Ian Goldberg (CFO, Prospect Resources) Keith Bowes (MD Lotus Resources) Mark Strizek (Exec. Director, Tietto Minerals) Matt Wilcox (COO, Tietto Minerals) www.infinitycorp.com.au | Level 25, 108 St Georges Terrace, Perth, WA 6000 ABN: 48 277 232 342