West African Resources

$WAF Investor Presentation — March 2026: loom.ly/iUDZ7es

We have released our 2025 annual results today, following another year of strong operational and financial performance. ✅ Revenue: $1.54 billion ✅ Profit before tax: $808 million ✅ Profit after tax: $567 million ✅ Cash flow from operating activities: $790 million ✅ Cash and gold bullion at end of 2025: $584 million cash and 27,095 oz gold bullion ✅ Net assets at end of 2025: $1.76 billion ✅ Gold production: 300,383 oz at US$1,488/oz AISC ✅ Gold sales: 280,065 oz at US$3,525/oz average price ✅ No significant health or safety incidents during the year Read the full 2025 annual results summary here: loom.ly/Er_fwYs Read the full 2025 annual report here: loom.ly/vjSeNyI $WAF

We're pleased to report on diamond drilling results from the M5 and M1 North deposits at our Sanbrado Gold Operations in Burkina Faso, including 28m at 6.1 g/t gold 400m reported below the M5 South Underground Resource. Drilling will be incorporated into our updated Resource, Reserve and 10-year production plan due Q2 2026. Read more: loom.ly/dJGJVBg $WAF

We're pleased to share a copy of our latest investor presentation, released for the Investing in African @MiningIndaba 2026 conference taking place this week, 9-12 February in Cape Town. Read it here: loom.ly/QdCj4z0 $WAF

Latest research on gold producer @WAFresources $WAF from Argonaut below post yesterday's December quarter results, Buy and $6.40/share target maintained (~66% upside on current share price) 👇

Today our Executive Chairman and CEO Richard Hyde hosted an investor webinar and conference call providing an overview of the December 2025 quarterly report. 🔊 Listen to the replay here: loom.ly/eat3hCA $WAF

📄 December 2025 Quarterly Report: loom.ly/ItvQCxg $WAF Executive Chairman and CEO Richard Hyde commented: “Sanbrado delivered another solid quarter, with 49,732 ounces of gold produced at a site sustaining cost of US$1,399/oz. For the full year 2025, Sanbrado produced 205,228 ounces of gold at a site sustaining cost of US$1,348/oz, achieving annual production guidance of 190,000 to 210,000 ounces at a site sustaining cost of under US$1,350/oz. Considering the strong rise in the gold price during 2025 significantly increased royalty costs, this was another outstanding annual result for Sanbrado and the 5th consecutive year of either meeting or beating guidance. "The ramp up of Kiaka production saw excellent progress in its first full quarter since startup, with 62,287 ounces of gold produced at a site sustaining cost of US$1,649/oz, bringing annual 2025 gold production to 95,155 ounces. "WAF group produced 300,383 ounces of gold in 2025 and achieved annual guidance of 290,000 to 360,000 ounces. We look forward to releasing WAF’s 2026 annual production guidance and outlining our capital management strategy later in Q1 2026.” We will host an investor webinar at 9:00am AEDT today with Executive Chairman and CEO Richard Hyde to discuss the December 2025 quarterly report. Join here: loom.ly/oe-WrzQ 💻

We will host an investor webinar and conference call on Wednesday, 28 January 2026 at 9:00am AEDT with Executive Chairman and CEO Richard Hyde to discuss the December 2025 quarterly report. Register for the investor conference call here: loom.ly/oe-WrzQ $WAF

Production update for our Sanbrado and Kiaka #gold mining centres in Burkina Faso, for the December quarter 2025. Read the full announcement: loom.ly/LLSynJo $WAF

We're pleased to report on diamond drilling results from below the M5 North open-pit ore reserve at our Sanbrado Gold Operations in Burkina Faso. Our Executive Chairman and CEO Richard Hyde commented: “Drilling 200 to 400m beneath the M5 North open-pit Ore Reserve has confirmed potential for WAF to extend open-pit mining at Sanbrado. Thick zones of gold mineralisation have been returned from the current drilling program including 16m at 11.2 g/t gold and 45m at 1.9 g/t gold. “WAF is currently halfway through the M5 North drilling program, which is expected to be completed in Q1 2026. Current estimates indicate an open-pit cutback at M5 would boost production towards the end of and beyond the current 10 year production plan." Read more: loom.ly/6BfkLj0 $WAF

We will host an investor webinar and conference call today, Wednesday, 26 November 2025 at 9:30am AEDT with Executive Chairman and CEO Richard Hyde to provide an update on the company's operations. Join the call here: loom.ly/f-4SG-M $WAF

West African Resources advises that, following the Burkina Faso Government’s request to acquire an additional equity interest in Kiaka SA, it has held discussions with the Government aimed at advancing and promoting the long-term sustainable growth of the country’s gold mining industry. Our Executive Chairman and CEO Richard Hyde commented: “We appreciate the constructive engagement and continued support of the Government of Burkina Faso. Our discussions regarding the ownership structure of our recently constructed Kiaka Project have reflected a shared vision to develop a strong and sustainable mining industry that benefits the Burkinabé people and delivers long-term value for all stakeholders. Sanbrado and Toega have not been part of these discussions. “Operations at Sanbrado and Kiaka have remained unaffected throughout this engagement with the Government. We remain on track to achieve group production guidance of 290,000 - 360,000oz gold in CY2025.” Read the full announcement here: loom.ly/EGs0aWQ $WAF

West African Resources Executive Chairman and CEO Richard Hyde attended the Mining Forum Americas 2025 in Colorado Springs last week.   In his presentation, Richard highlighted WAF’s almost 20-year track record of working in Burkina Faso, and the significant contributions made in-country as the company strives to deliver ongoing sustainable growth and shared value.   Contributions since Sanbrado started mining operations in 2020, detailed by Richard in the clip below include:   💰 US$370 million contributed to Burkina Faso in taxes and royalties 💰 US$9 million invested in community projects and donations 💰 US$24 million contributed to local development mining fund – 1% of revenue, since start of Sanbrado operations 💰 US$3.7 million contributed to mine rehabilitation and closure fund.   $WAF continues to build a strong workforce of more than 2,700 people, comprised of 93% Burkinabe employees. 📺 Watch Richard's full presentation here: loom.ly/aG9A3Lc View the accompanying PDF presentation here: loom.ly/ohLNbcY

A fairly relaxed Richard Hyde said @WAFresources is likely having a record quarter and is confident of finding a mutually beneficial agreement with the Burkina Faso government $WAF #MFA25 miningforum.live/p/west-african…

$WAF Africa Down Under Presentation – September 2025: loom.ly/AYyIS74

In July 2025, West African Resources launched a vocational training program for 180 young people from project-affected communities around the Kiaka Mine in partnership with Digital Indicator-TJP in Bobo-Dioulasso as part of our Kiaka Livelihood Restoration Program (LRP). The program covers 22 trades, including: 🔌 Electrical work ✂️ Hairdressing 🍽️ Catering 🧱 Masonry 🚗 Auto mechanics 👗 Tailoring and much more Running for 3 to 6 months depending on the trade, the program equips participants with professional skills, entrepreneurship coaching, and tailored business plans. Graduates will also receive startup kits to kickstart their own ventures.

$WAF June 2025 Half Year Financial Report: loom.ly/CIdknJI West African Executive Chairman and CEO Richard Hyde commented: “WAF has delivered another outstanding half year result with a profit after tax of A$215 million from revenue of A$477 million and operating cash flow of A$159 million. “Our unhedged resources now stand at 12.2 million ounces of gold and ore reserves at 6.5 million ounces of gold.”

West African Resources CEO and Executive Chairman Richard Hyde is interviewed in the August edition of @Paydirt_Media magazine, below. Speaking with Paydirt Editor Dominic Piper, Richard discusses Sanbrado’s consistently strong performance, the ramp up underway at Kiaka and first gold poured ahead of schedule in June – and the company continuing to exceed expectations. “The reality is, we have never missed guidance since we started more than four years ago,” he tells the publication. “When the opportunity presented itself to take on Kiaka as a second project, it made a lot of sense.” He adds: “Most investors will be thinking about what is next given the success on both project builds. All I can say is we are looking to bed down the operation at Kiaka, make money and pay down the debt. After that, there will definitely be more drilling and studies into increased throughput on both projects. Once all of this is complete, then we will see what we can do corporately. “Opportunities may present themselves and we are ready. There are not many companies around with two mines in a single jurisdiction doing 500,000 ozpa. We have taken calculated risk to get where we are and I don’t think there is a company which is better set up, with the bench strength we have, to do it again.” Read the full article on our LinkedIn, and Paydirt's website. $WAF

In July 2025, West African Resources donated 12 tons of certified WARI maize seeds to five municipalities around the Kiaka Mine, including : Niaogho, Béguédo, Garango, Boussouma, and Gogo. The WARI maize variety is tailored for Burkina Faso’s climate, with: ✔️ High yields (up to 6.5 tons/ha) ✔️ A short 85-day growth cycle ✔️ 95% germination rate This initiative, part of our Kiaka Livelihood Restoration Program (LRP), supports food security, sustainable agriculture, and inclusive growth across the region. 🌱

Hear our Executive Chairman and CEO Richard Hyde discuss the strength of the team driving $WAF in the clip below, from the @DiggersnDealers Mining Forum last week. For those that haven't watched the full presentation — we encourage you to do so here ➡️ loom.ly/fBCmWdA In the 20 minute update, Richard provides an overview of our two long-life, unhedged, low-cost gold production centres in operation — highlighting the company's track record of consistently meeting or beating production guidance at Sanbrado, the delivery of first gold ahead of schedule and under budget at Kiaka in June, and WAF's bright outlook as it targets 4.8 million ounces of gold production over the next decade.