Announcement PDF Theta Gold Mines Limited ACN 131 758 177 Registered Office: Level 35, One International Towers, 100 Barangaroo Avenue Sydney, NSW 2000, Australia 13 October 2026 ASX ANNOUNCEMENT AND MEDIA RELEASE (ASX: TGM) Nordic Funds and Mines Conference – Investor Presentation Theta Gold Mines Limited (ASX: TGM) (Theta or the Company) is pleased to advise that Chairman, Bill Guy will be participating in the Nordic Funds and Mines Conference in Stockholm from October 15 to 16, 2026. The Nordic Funds and Mines Conference is Scandinavia’s premier global mining investment event and provides the Company with an opportunity to show case progress of the Company’s TGME Gold Mine Project and engage with Nordic institutional and retail investors. Bill Guy will also have an opportunity to meet and provide updates to many of the Nordic Bond Holders who participated in the US$90 Million Bond Issue provided to the Company in June 2026. An updated Investor Presentation is attached and released with this announcement. [ENDS] This announcement was approved for release by Theta Gold Mines Limited’s Chairman. For more information, please visit www.thetagoldmines.com contact key management: Bill Guy, Chairman E: billg@thetagoldmines.com Richie Yang, Executive Director E: richiey@thetagoldmines.com T: + 61 2 8046 7584 Investor Relations and Media Communications SOUTH AFRICA’S NEXT SUSTAINABLE GOLD PRODUCER Investor Presentation Nordic Funds and Mines Conference October 2026 THETA GOLD MINES LIMITED FORWARD LOOKING AND CAUTIONARY STATEMENTS This presentation may refer to the intention of Theta Gold Mines regarding estimates or future events which could be considered forward looking statements. Forward looking statements are typically preceded by words such as “Forecast”, “Planned”, “Expected”, “Intends”, “Potential”, “Conceptual”, “Believes”, “Anticipates”, “Predicted”, “Estimated” or similar expressions. Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, and may be influenced by such factors including but not limited to funding availability, market-related forces (commodity prices, exchange rates, stock market indices and the like) and political, environmental or economic events (including government or community issues, land owners, global or systemic events). Forward looking statements are provided as a general reflection of the intention of the Company as at the date of release of the document, however are subject to change without notice, and at any time. Future events are subject to risks and uncertainties, and as such results, performance and achievements may in fact differ from those referred to in this announcement. Mining, by its nature, and related activities including mineral exploration, are subject to a large number of variables and risks, many of which cannot be adequately addressed, or be expected to be assessed, in this document. Work contained within or referenced in this report may contain incorrect statements, errors, miscalculations, omissions and other mistakes. For this reason, any conclusions, inferences, judgments, opinions, recommendations or other interpretations either contained in this announcement, or referencing this announcement, cannot be relied upon. There can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates. The Company believes it has a reasonable basis for making the forward-looking statements contained in this document, with respect to any production targets, resource statements or financial estimates, however further work to define Mineral Resources or Reserves, technical studies including feasibilities, and related investigations are required prior to commencement of mining. No liability is accepted for any loss, cost or damage suffered or incurred by the reliance on the sufficiency or completeness of the information, opinions or beliefs contained in this announcement. The Revised Feasibility Study released to the ASX on 3 February 2026 and referred to in this announcement is based on technical and economic assessments to support the estimation of Ore Reserves. There is no assurance that the intended development referred to will proceed as described, and will rely on access to future funding to implement. Theta Gold Mines believes it has reasonable grounds to expect that the results of the Feasibility Study will be achieved. At this stage there is no guarantee that funding will be available, and investors are to be aware of any potential dilution of existing issued capital. The production targets and forward-looking statements referred to are based on information available to the Company at the time of release, and should not be solely relied upon by investors when making investment decisions. Theta Gold cautions that mining and exploration are high risk, and subject to change based on new information or interpretation, commodity prices or foreign exchange rates. Actual results may differ materially from the results or production targets contained in this release. Further evaluation is required prior to a decision to conduct mining being made. The estimated Mineral Resources quoted in this release have been prepared by Competent Persons as required under the JORC Code (2012). Material assumptions and other important information are contained in this release. The Company confirms that all material assumptions underpinning the production target, or the forecast financial information derived from the production target continue to apply and have not materially changed from that released in the Revised Feasibility Study released to ASX on 3 February 2026. BUSINESS STRUCTURE Theta Gold Mines holds 100% issued capital of its South African subsidiary Theta Gold SA (Pty) Ltd (“TGSA”). TGSA holds a 74% shareholding in both Transvaal Gold Mining Estates Limited (“TGME”) and Sabie Mines (Pty) Ltd (“Sabie Mines”). TGME holds the various exploration and mining permits. The balance of shareholding is held by Black Economic Empowerment (“BEE”) entities. The South African Mining Charter requires a minimum of 26% meaningful economic participation by the historically disadvantaged South Africans (“HDSAs”). The BEE shareholding in TGME and Sabie Mines is comprised of a combination of local community trusts, an employee trust and a strategic entrepreneurial partner. DISCLAIMERAND COMPETENT PERSONS STATEMENT DISCLAIMER This announcement or presentation has been prepared by and issued by Theta Gold Mines Limited (ASX:TGM) to assist in informing interested parties about the Company and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this announcement. This announcement or presentation may contain forward looking statements. Whilst Theta Gold Mines has no reason to believe that any such statements and projections are either false, misleading or incorrect, it does not warrant or guarantee such statements. Nothing contained in this announcement constitutes investment, legal, tax or other advice. This overview of Theta Gold Mines does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. Before making an investment decision, you should consult your professional adviser, and perform your own analysis prior to making any investment decision. To the maximum extent permitted by law, the Company makes no representation and gives no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omissions, from any information, statement or opinion contained in this announcement. This announcement contains information, ideas and analysis which are proprietary to Theta Gold. COMPETENT PERSONS STATEMENT The information in this report relating to mineral resources and ore reserves is based on, and fairly reflects, the information and supporting documentation compiled by Mr Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions and Mr Daniel van Heerden (B.Eng. (Mining), M.Com. (Business Management)), member of Engineering Council of South Africa (Pr.Eng. Reg. No. 20050318)), a director of Minxcon (Pty) Ltd and a fellow of the South African Institute of Mining and Metallurgy (FSAIMM Reg. No. 37309). The original reports titled “Theta Gold Increases Mineral Resource to over 6Moz” dated 16 May 2019, “Optimised Mine Schedule for Theta Open Pit Starter Project Delivers Significant Improvements” dated 20 April 2020 and “Initial Maiden Underground Mining Reserve 419,000 oz Gold” dated 8 April 2021 were released to the Australian Securities Exchange (ASX) on those dates. The Company confirms that: • it is not aware of any new information or data that materially affects the information included in the ASX announcements; and • all material assumptions and technical parameters underpinning the estimates in the ASX announcements continue to apply and have not materially changed. BASE CASE PRODUCTION TARGET The Base Case Production Target and forecast financial information disclosed in this study are based on Mineral Resources that include a proportion of Inferred Mineral Resources and the realisation of the full potential of the Base Case as presented cannot be guaranteed. Inferred Mineral Resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be classified as Ore Reserves. There is no certainty that further exploration work or evaluation studies will result in the conversion of Inferred Mineral Resources to Indicated or Measured Mineral Resources or Ore Reserves. AUTHORISATION This presentation was authorised for release by the Board of Theta Gold Mines Limited. 2 Disclaimer INVESTOR PRESENTATION | ASX: TGM TGME Gold Project Summary TGME Gold Plant Construction Transvaal Gold Mining Estates Appendix 1 2 3 4 Table of Contents Ore stockpile for plant commissioning Construction underway with only ~USD 39m1 spent today – commissioning targeted for Q4’2026 / first gold Q1’2027 4 High-grade gold project with a 13.1-year mine life, including 8.8 years of reserves and 6.1Moz of resources First-quartile cost position with AISC of ~USD 1,181/oz supporting strong operating margins Resilient economics with breakeven gold price of USD 1,323 – 1,503/oz; NPV10 of USD 490m and 911m at USD 3,000/oz and 4,500/oz gold price respectively Led by a seasoned management and operations team with substantial in-country experience Located in established historic goldfields with proximity to key infrastructure and Johannesburg as a mining services hub Note: 1) Management's estimate based on unaudited results to 30 September 2026. Key Investment Highlights TGME GOLD PROJECT SUMMARY THETA GOLD MINES | ASX: TGM 5 Overview of Theta Gold • Theta Gold is an Australian headquartered gold mining company that owns a 74% stake in the high-grade Transvaal Gold Mining Estates Project located in the Mpumalanga province of South Africa • In February 2026, Theta Gold completed a Revised Feasibility Study. Under the base case Theta Gold is forecast to produce 871koz Au over 13.1 years with a recovered grade of 4.28g/t1 • The high-grade nature of the underground mines within TGME contributes to Theta Gold having a high-margin first quartile all-in-sustaining-costs of USD 1,284/oz at gold price of USD 4,500/oz2 • Theta Gold is in the process of restarting operations at TGME and has commenced early development works spending USD 39m3 on the Project development to September 2026. • The Company is listed on the Australian Securities Exchange (“ASX”) with a market capitalization of AUD 254m (~USD 176m)4 High-grade gold mine(s) located in South Africa’s most prolific gold region supported by existing infrastructure, a skilled workforce, and strong utility access Key statistics (100% basis) Mine location in South Africa Q4’2026 Commissioning 13.1 years Life-of-Mine 604koz Au Ore Reserves 6.1Moz Au Mineral Resources USD 1,284/oz AISC @ USD 4,500/oz Au2 USD 102m5 Initial development capital USD 1,833m Post-tax FCF @ USD 4,500/oz Au2 USD 911m Post-tax NPV10 @ USD 4,500/oz Au2 South Africa Mpumalanga Frankfort CDM Beta & Central Processing Plant Rietfontein Theta Gold at a Glance TGME GOLD PROJECT SUMMARY Note: 1) Base case Life-of-Mine (“LOM”) production figures include a proportion of Inferred Mineral Resources. Refer to slide 3 for further details; 2) Based on an average gold price assumption of USD 2,884/oz in the Revised Feasibility Study, AISC, post-tax FCF and post-tax NPV10 are USD 1,181/oz, USD 933m and USD 455m respectively; 3) As of 30 September 2026; 4) As of 2 October 2026; 5) Development capital required to achieve first gold at Beta mine, excluding income expected from Rock Dumps and the tailings storage facility (“TSF”) Source: FactSet THETA GOLD MINES | ASX: TGM Note: 1) Forecasts have been prepared by mining industry experts, Minxcon Group, a mining engineering and mineral resources consultancy based in South Africa, and all figures are presented on a 100% basis; 2) Base case LOM production figures include a proportion of Inferred Mineral Resources. Refer to slide 3 for further details 6 NPV10 Post-tax sensitivity (USDm)1,2 NPV10 post-tax and annual EBITDA sensitivity to gold price assumptions (USD/oz) 348 490 630 770 911 1,051 2,500 3,000 3,500 4,000 4,500 5,000 Gold Price (USD/oz) Annual EBITDA Sensitivity (USDm)1,2 87 116 145 174 203 232 2,500 3,000 3,500 4,000 4,500 5,000 Gold Price (USD/oz) Robust economics and solid asset backing for the TGME Project TGME GOLD PROJECT SUMMARY THETA GOLD MINES | ASX: TGM Note: 1) All figures are presented on a 100% basis; 2) Base case LOM production figures include a proportion of Inferred Mineral Resources. Refer to slide 3 for further details; 3) Carbon-in-leach is a metallurgical process in mining for extracting gold 7 Ore mined by source1,2 Ramp up to peak production of ~115kozpa initially utilizing ready-to-access rock dumps and tailings, followed by ore feed from the Beta and Rietfontein mines 1.62 2.81 5.34 6.22 6.82 6.74 7.33 7.31 5.76 3.46 2.07 3.00 3.50 0. 00 1. 00 2. 00 3. 00 4. 00 5. 00 6. 00 7. 00 8. 00 - 1,000 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 kt Beta CDM Frankfort Commentary • Mining operations are planned to commence at the Beta mine. A period of 18 months pre-development has been planned for the Beta mine before stoping commences. During the Beta development and ramp-up period, TGM Rock Dumps and plant TSF will be remined and processed • Mining operations at the Rietfontein Mine will commence in Q4’2028 • Following that, the Company plans to scale up production from the Clewer-Dukes Hill-Morgenzon (“CDM”) and Frankfort mines • Theta Gold will continue to expand its resource potential by systematically evaluating over historic mines and advancing targeted exploration, development and drilling across both existing operations and new high-potential targets • Free-milling ore (Beta, Rietfontein and CDM) processed through the Company’s 45kt per month oxide plant is expected to achieve strong carbon-in- leach (“CIL”)3 recoveries of 88-96% Gold production1,2 - 50 100 150 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 koz Beta CDM Frankfort Rietfontein Rock Dumps TSF Mine Plan Overview TGME GOLD PROJECT SUMMARY THETA GOLD MINES | ASX: TGM TGME Gold Project Summary TGME Gold Plant Construction Transvaal Gold Mining Estates Appendix 1 2 3 4 Table of Contents TGME Gold Plant Construction in Progress Key contracts already locked in, de-risking the Project Counterparty Description Power Supply • Electrical Supply Agreement to TGME Civil Construction • The supply, construction, commissioning and related works of the bulk earthworks and civil works for the construction of the TGME gold plant platforms, roads, pollution control dam, and installation of clean and dirty water channels Crushing Circuit • Supplier agreement for the crushing circuit Ball Mills • Contract for two x Titan GDM3065 Ball Mills Plant Equipment • Design and supply of the agitators, kiln, electrowinning circuit, MPS screens and maintenance bay for the TGME processing facility Thickeners and Flocculant Plant • Design, manufacture and installation of the thickeners and flocculant plant for the TGME processing facility Diesel • Agreement to provide diesel to the TGME mine site(s) / processing facility Gold Sales • Contract to purchase gold doré bars from the TGME processing facility1 Note: 1) The Offtake Agreement has not yet been executed as of the date of this Presentation and is expected to be entered in to prior to commercial production. Please refer to the Term Sheet for further details. 9 Key Contracts Overview TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM Master Project Schedule S-Curve 10 • TGME GOLD Plant construction is 72% complete to 30 September 2026 • First Gold Pour Q1 2027 Commentary Schedule Overview – Master Project Schedule S-Curve TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 11 TGME – Gold Plant Construction Summary TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 12 Locking in this key long-lead item further reduces execution risk and keeps the Project on track for commissioning in Q4’2026 Inspections with NMS and process engineers ahead of contract award Commentary • Manufacturing contract with NMS Africa (Pty) Ltd (“NMS”) for a crushing and screening plant has been executed, with delivery expected in October. • The contract covers the manufacture of a three-stage crushing and screening plant designed to meet initial production requirements, while allowing for future expansion as the project scales - The plant includes ore feed, primary, secondary and tertiary crushing, plus screening circuits • All continuing construction activities at the site are progressing on budget and the Project remains on track for commissioning in Q4’2026 Supplier Selection - Key Crushing and Screening Plant Contract Secured TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM TGME Gold Plant Milling section under construction Note: 1) As of 30 September 2026 USD 39m1 already spent to date on earthworks, civils, and processing plant equipment 13 Earthworks Completed in Preparation for the Processing Plant Carbon in leach tank under construction TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 14 Excavation and Blinding release inspection of Thickener 600 bund wall. Pre-concrete shutter inspection of pump bases at Thickener 1000. MCC 1 – pour and floating. Visual post-concrete inspection of the stacker wall bund wall. Pre-concrete inspection of Gold room bund wall area. Drilling of Pre-Oxidation surface beds to allow for DCP testing of underlaying layer works. Area 800 Stabilenka installation completed and backfilled. Road layer works being done on Road 1 at the southern end of the plant. Earthworks and Civils (PICM) QAQC Report Pictures TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 15 Superstructure for Elution Circuit and Gold Room Structural, Mechanical, Piping, and Platework (SMPP) TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 16 Ball Mills Secured, Construction Accelerates TGME Plant Build Progress TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 17 Elution Building CIL & Tailings Thickeners Mill Circuit CIL Tanks Engineering Monitoring SMPP TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 18 Thickener Tanks being constructed Plant view from Stationary Crane Gold Room Roof – under construction TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 19 Solar Car Park and New Management Offices Management Offices, Solar Car Park, Goods shed Solar Car Park and Battery System TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 20 Commentary Gold Room is close to completion: Gold Room Equipment for pouring and casting gold • TGM has purchased a Keegor Industrial Furnace to be used for smelting and refining gold. • Gold Casting equipment is already on site to cast gold doré bars. • Gold room and smelting equipment to be installed in the completed gold room expected to be completed in Q3 2026. TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 21 Tailings Facility System Engineering Testing - Density JEDD –Tailings Facility System (TFS) Rehabilitation TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 22 • New Siton underground drill rig delivered to site • Purpose-built for mechanised underground drilling and mine development • Mobile, self-contained unit with an articulated hydraulic drilling boom • Forms part of the mobilisation of underground mining equipment • Supports development of underground mining areas ahead of production Underground Mining Equipment TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM Commissioning targeted for Q4’2026, with first gold in Q1’2027 Note: First gold produced timing will be subject to obtaining all necessary regulatory permitting approvals 23 Pathway to Production TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM Note: 1) Theta Gold carries 100% of the development costs of TGME, and the TGME Empowerment Company (Pty) Ltd is loan-carried. Please see slide 50 for more details on the Black Economic Empowerment structure; 2) Capex spent for processing plant is the total amount over the life of mine, 3) Excluding capex from recoupment 24 Mining and infrastructure capex schedule over the life of bond (USDm)1 Minimal development capex after 2026 as production is expected to commence in Q1’2027 7 58 17 10 3 0 2025 2026 2027 2028 2029 2030 Contingency Overview of capex costs over the life of the bond 65.2 56.1 9.1 Plant 1 Plant 2 Total 18.9 14.6 Beta Rietf… Total capex spending of USD 33.6m, which includes access roads, power, water, ventilation, and other infrastructure Processing Plant Capex Mining and Infrastructure Capex Split by Mine A total of USD 65.2m is spent on processing plant capex2 12.3 6.4 5.8 Mining &… Processin… Total Contingency Total additional contingency of USD 12.3m is required for the development on the Project2,3 Development Capex Overview TGME GOLD PLANT CONSTRUCTION THETA GOLD MINES | ASX: TGM 1 2 3 TGME Gold Project Summary TGME Gold Plant Construction Transvaal Gold Mining Estates Appendix 4 Table of Contents 26 Asset overview Shovel-ready mines with key approvals secured and clear pathway to production • TGME is situated in South Africa’s prolific Eastern Transvaal Goldfields (Mpumalanga), with historic production of 6.7Moz Au and remains active today • Theta Gold’s base case plan is forecast to produce 871koz Au over a 13.1 year mine life from Beta, Rietfontein, CDM, Frankfort, and reprocessing of Rock Dumps and TSF tailings • Annual production is targeted at 90-120koz, with a modular plant design supporting a pathway to 160koz per year with minimal capex Key Summary of Mines: • 620 Km2 of Gold field under management • 43 historical gold mines; only four are in the current mine plan. • TGME Gold Plant designed to be capable of doubling capacity to 90 Ktpm • Theta mine plan brings on 7 mines in next five years • 3 Moz of gold resource not included in the current mine plan. • Exploration drilling to increase the current resource base plan later this year. • Vaalhoek, Desire, Glens, Rietfontein extension to be further developed with drilling TGME Gold Projects Area Frankfort CDM Beta & Central Processin g Plant Rietfontein Growth Potential TRANSVAAL GOLD MINING ESTATES THETA GOLD MINES | ASX: TGM Theta Gold is actively restoring the ecological and hydrological integrity of the catchment to safeguard biodiversity and critical ecosystem services. Key initiatives include: 27 > These actions are essential for ensuring long-term resilience of the catchment, protecting both local communities and vital ecosystems downstream Invasive Tree Control & Re- vegetation Riparian Zone Management Fire Belt Implementation Erosion & Sediment Control Targeted removal of alien species and replanting with indigenous vegetation Ongoing monitoring and removal of invasive trees within the river corridor Strategic fire lines to protect sensitive areas and promote natural regeneration Stabilizing vulnerable zones through native plant re-vegetation and landscape rehabilitation • The critical river system sustains over 20,000 farm workers and serves as the lifeline for Kruger National Park – especially during dry winter months • Unless urgent action is taken, collapse is projected within 15 years Critical river system • Invasive species and unsustainable land use are already placing significant pressure on the system • Theta Gold is acting now – before this vital water source disappears • Theta Gold will join local industry and NGOs to rehabilitate the catchment and rivers Invasive species & unsustainable land use Theta Gold has launched an Ecological Compensation programme ESG: Restoring the Local Catchment and River System TRANSVAAL GOLD MINING ESTATES THETA GOLD MINES | ASX: TGM Occupational health and safety training and local skills development 28 Direct employment over LoM (FTEs) Workforce builds to ~500 FTEs by Year 4 and peaks at ~535, supported by a zero-harm, health-focused culture 50 200 370 513 517 515 509 505 493 535 478 349 306 181 1 2 3 4 5 6 7 8 9 10 11 12 13 14 LoM Year HIV & AIDS program TB program Other HSEs program Employee wellness program Substance abuse program Communicable diseases protocols ESG: Direct Employment and Workplace Health & Safety TRANSVAAL GOLD MINING ESTATES THETA GOLD MINES | ASX: TGM Note: 1) FTE = full-time equivalent. 1 2 4 TGME Gold Project Summary TGME Gold Plant Construction Transvaal Gold Mining Estates Appendix 3 Table of Contents Mineral Resource Classification Mine Reef Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Total Measured 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Indicated Frankfort Bevetts 7.86 5.13 58 96 452 0.243 0.373 1,912 61.5 CDM Rho 13.19 3.80 23 90 307 0.258 0.895 3,401 109.4 Beta Beta 21.66 6.58 23 90 499 0.716 2.357 15,506 498.5 Rietfontein Rietfontein 14.57 8.20 52 92 755 0.517 0.919 7,534 242.2 Total Indicated 16.35 6.24 30 91 540 1.734 4.543 28,352 912 Total Measured & Indicated 16.00 6.22 32 92 540 1.803 4.634 28,841 927 Mineral Resource Classification UG Mine Reef Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content g/t g/t cm cm cm.g/t Mt Mt kg koz Inferred Frankfort Bevetts 7.41 4.27 48 93 356 0.343 0.596 2,543 81.8 CDM Rho 10.06 3.02 24 90 244 0.544 1.811 5,472 175.9 Beta Beta 16.51 5.43 25 90 414 1.107 3.367 18,285 587.9 Rietfontein Rietfontein 14.06 8.52 57 94 803 1.190 1.962 16,721 537.6 Total Inferred 13.51 5.56 39 92 524 3.184 7.736 43,022 1,383.2 Notes:- 1. Mineral Resource cut-off of 160 cm.g/t applied. 2. Fault losses of 5% for Measured and Indicated, 10% for Inferred Mineral Resources. 3. Gold price used for the cut-off calculations is USD1,500/oz. 4. cm.g/t and g/t figures will not back calculate due to variable densities in reef and waste rock. 5. Mineral Resources are stated as inclusive of Ore Reserves. 6. Mineral Resources are reported as total Mineral Resources and are not attributed. The company confirms that it is not aware of any new information or data that materially affects the information included in the presentation and that all material assumptions and parameters underpinning the estimates in the release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the reported tables in this presentation. 30 Total Mineral Resources of the 4 Mines included in the DFS - Combined as of 1 February 2021 THETA GOLD MINES | ASX: TGM APPENDIX Notes: •An Ore Reserve cut-off of 170 cm.g/t has been applied for the Beta Mine. •An Ore Reserve cut-off of 150 cm.g/t has been applied for the Frankfort Mine. •An Ore Reserve cut-off of 121 cm.g/t has been applied for the CDM Mine. Table: Ore Reserve Estimate for TGM Mines (Ore Reserve Plan) Notes: •An Ore Reserve cut-off of 160 cm.g/t has been applied for the Rietfontein Mine. •A gold price of USD2,710/oz and exchange rate of ZAR/USD 19.65 was used for the cut-off calculation. •Discrepancy due to summation may occur due to rounding. The company confirms that it is not aware of any new information or data that materially affects the information included in the presentation and that all material assumptions and parameters underpinning the estimates in the release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the reported tables in this presentation. 31 THETA GOLD MINES | ASX: TGM APPENDIX Mineral Resource Classification Mine Reef Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Total Measured 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Indicated Frankfort Bevetts 7.86 5.13 58 96 452 0.243 0.373 1,912 61.5 CDM Rho 13.19 3.80 23 90 307 0.258 0.895 3,401 109.4 Beta Beta 21.66 6.58 23 90