Announcement PDF U.S. ore to U.S. metal. Rebuilding America's antimony supply chain from American ore INVESTOR PRESENTATION · OCTOBER 2026 ASX: FXG Fairbanks TREASURE CREEK 30 KM ALASKA, USA Treasure Creek, Fairbanks Mining District. The Alaska crew on the bulk-sample pad with hand-sorted, bagged stibnite ore. IMPORTANT NOTICES FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 02 Important notices This presentation has been prepared based on information available at the time of its preparation. Forward-looking statements Various statements in this presentation constitute statements relating to intentions, future acts and events. Such statements are generally classified as forward-looking statements and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed herein. Words such as anticipates, expects, intends, plans, believes, seeks, estimates, targets and similar expressions identify forward- looking statements. Statements regarding development timing, feasibility, permitting, processing, Frontier Antimony Refinery Corp., capital and strategy are forward-looking. Government applications and selections are not awards, and discussions are not binding agreements. Felix Gold cautions shareholders and prospective shareholders not to place undue reliance on these statements, which reflect the view of Felix Gold only as of the date of this presentation. Forward-looking statements are not guarantees of future performance. Not an offer This presentation is for information only. It is not an offer, invitation or recommendation to subscribe for or purchase securities in Felix Gold Limited or Frontier Antimony Refinery Corp. in any jurisdiction, and it is not a prospectus or disclosure document under the Corporations Act 2001 (Cth) or the U.S. Securities Act of 1933. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and persons into whose possession it comes should inform themselves about and observe such restrictions. All dollar figures are Australian dollars unless otherwise indicated; US$ are United States dollars. Production, feasibility and metallurgical disclosures Felix Gold has no Mineral Resource or Ore Reserve declared for antimony and no JORC-compliant economic study has been completed. No production target or guidance is given. Antimony grades referenced are from selected high-grade samples and are not average deposit grades. References to processing design capacity are conceptual, are based on scoping-level engineering, and are not production targets for the purposes of ASX Listing Rule 19.12. The Company makes no statement of grade, contained metal or recoverable quantity in respect of stockpiled material. Pilot plant grades are indicative by handheld XRF, laboratory assays are pending and no recovery, throughput, product specification or production target is reported or implied. Metallurgical results are from independent laboratories on selected samples. The Department of Energy selection is a selection to enter award negotiations; no funds are obligated until an award agreement is executed by a DOE Grants Officer. References to ore describe the antimony-bearing material extracted from Treasure Creek and processed in the testwork program. No Mineral Resource or Ore Reserve has been estimated or declared for antimony at Treasure Creek under the JORC Code (2012), and the metallurgical results are not an estimate of Mineral Resources or Ore Reserves. The Company is assessing the viability of commercial production; no formal economic studies under the JORC Code have been completed and there is no certainty commercial production will eventuate. No metal at 99.65% Sb or any other commercial specification has been produced. Any progression to production remains subject to further technical, regulatory, commercial, permitting and Board approvals. References and Competent Person statements The information in this presentation that relates to Exploration Results and Mineral Resources for Felix Gold's Fairbanks projects is extracted from ASX announcements available at felixgold.com.au and on the ASX platform, and listed in the Disclosures page of this presentation. The reports were issued in accordance with the 2012 Edition of the JORC Code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original announcements. Market and macroeconomic data are sourced from the United States Geological Survey, Fastmarkets, S&P Global Market Intelligence and United States Government publications. Third- party and market data are unverified and provided for context only. Competent Person statement The information relating to metallurgical testwork is based on, and fairly represents, information compiled by Mr Wayne Anderson, a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM), an independent consultant to Felix Gold Limited, who has sufficient experience relevant to the style of mineralisation and type of testwork to qualify as a Competent Person under the JORC Code (2012) and consents to its inclusion in the form and context in which it appears. The Treasure Creek exploration results were previously reported by Felix Gold Limited in the announcements listed on the Disclosures page, which contain the Competent Person statement and consent and the JORC Code (2012) Table 1 information. INVESTMENT HIGHLIGHTS Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared. Forward-looking statements are subject to studies, permitting, funding and Board approval. See Important notices. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 03 One ore body. Two metals. One owner, all the way to metal 01 Permitted and extracting Bulk Sample Permit to December 2029, extraction underway, 100% of Treasure Creek owned 02 Military-grade ore, before processing 71.9% Sb direct shipping ore, exceeding MIL-A- 22131 with no concentrator and no flotation 03 Demonstrated to metal Ore to cast antimony metal at pilot scale, through the unit operations the refinery will run 04 Selected by the U.S. Department of Energy Up to US$18 million non-dilutive, one of nine projects nationally, in award negotiation 05 One owner, all the way to metal Frontier, Felix Gold's wholly owned Delaware subsidiary, holds exclusive rights to the ore 06 A second stream in gold 831,000 oz JORC Inferred, 30 km by road from a Tier 1 mill INTERNATIONAL AIRPORT FREIGHT RAIL LINE ELLIOTT HIGHWAY STEESE HIGHWAY GOLDEN SUMMIT Freegold Ventures project FAIRBANKS CITY LOCATION FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 04 Treasure Creek antimony Permitted extraction · 100% Felix Gold NW Array gold 467 koz Inferred, in Treasure Creek Grant Mine gold 364 koz Inferred · 30 km from Fort Knox NE Fairbanks gold Auger sampling to 568 ppb Au FORT KNOX MILL Third-party Tier 1 mill, approximately 30 km by road FORT WAINWRIGHT U.S. Army EIELSON AIR FORCE BASE U.S. Air Force 20 KM N FAIRBANKS MINING DISTRICT, ALASKA Strategically located FAIRBANKS, ALASKA WHY THE POSITION MATTERS District-scale tenure, 30 km from Fairbanks Largest claim position in the Fairbanks Mining District Year-round paved highway and grid power to the project Rail, international airport and skilled workforce at Fairbanks Fort Wainwright and Eielson Air Force Base nearby Alaska State mining claims, no federal land in the footprint Felix Gold tenure LARGEST LANDHOLDING IN THE DISTRICT Third-party mine or project Highway Alaska Railroad Tanana River Tenure from the State of Alaska's tenure data (DNR, 18 September 2026). Roads, railway and third-party operations from OpenStreetMap (© OpenStreetMap contributors) and public sources, indicative. Mineral Resources are as previously reported; refer to the Disclosures appendix. Fort Knox is a third-party operation; any processing arrangement is subject to commercial agreement. THE PROBLEM Sources: USGS Mineral Commodity Summaries 2026; Fastmarkets; United States Government publications. Third-party and market data are unverified and provided for context only. Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 05 Antimony, the national security metal the United States cannot make 91% U.S. net import reliance in 2025. None was mined domestically from 2001 to 2024 85%+ of world mine production from China, Russia and Tajikistan, on falling global supply Removed by policy, not by a price cycle China banned shipments to the United States in December 2024; the prohibition on U.S. military end users remains in force No substitute Ammunition primers, armour hardening, night vision, infrared, flares and flame retardants Military-grade is the scarce part of the market MIL-A-22131 requires 70% Sb or better. Treasure Creek ore meets it before processing Washington has responded with capital Defense Production Act Title III awards, DOE funding, National Defense Stockpile procurement and federal equity in a domestic producer since 2023 THE SOLUTION Frontier does not dilute Felix Gold ownership of the underlying assets. It is the commercial vehicle through which those assets are monetised in the U.S. market. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 06 FELIX GOLD AND FRONTIER Rebuilding America's antimony supply chain from American ore U.S. ore Mined by Felix Gold at Treasure Creek, Alaska, and sold to Frontier exclusively U.S. refinery To be built by Frontier on U.S. soil, wholly owned by Felix Gold U.S. metal Targeting military-grade antimony metal for the U.S. defence industrial base DELIVERING AGAINST OUR STRATEGY Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared. Forward-looking statements are subject to studies, permitting, funding and Board approval. See Important notices. Photographs show material exposed or extracted at Treasure Creek. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 07 OUR STRATEGY Secure the ore. Make the metal. Grow the value. 01 · SECURE THE ORE Direct shipping ore at 71.9% Sb, exceeding MIL-A-22131 before any processing. The four highest grade-thickness antimony intercepts on the S&P Global database in three years are all Treasure Creek 02 · MAKE THE METAL The flowsheet has run end to end at pilot scale, ore in and cast antimony metal out. No concentrator. No grinding circuit. No flotation 03 · GROW THE VALUE Frontier, Felix Gold's wholly owned Delaware subsidiary, holds exclusive rights to the ore. The DOE has selected Felix Gold for up to US$18 million in non-dilutive funding, and the Company is seeking to transfer the award to Frontier, subject to DOE approval DELIVERING AGAINST OUR STRATEGY Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared. Forward-looking statements are subject to studies, permitting, funding and Board approval. See Important notices. Dates are announcement or effective dates. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 08 FY2026 IN REVIEW The year a proposition became a demonstrated capability NOV 2025 Military-grade concentrate 74% Sb single-stage concentrate; 98% leach extraction DEC 2025 A$18.0M placement Institutional placement at A$0.36 per share FEB 2026 Delivery team Dougal Elder, CFO, and Dan Brearley, VP Development and Operations MAR 2026 Permitted, 100% owned Bulk Sample Permit to 2029; 71.9% Sb ore confirmed; 100% of claims secured JUN 2026 Extraction commenced Ore mined, bagged and positioned in the United States; Frontier established AUG 2026 DOE selection Up to US$18M non- dilutive, one of nine nationally AUG 2026 Ore to metal Flowsheet run end to end at pilot scale; metal cast A$9.6M Cash and cash equivalents at 30 June 2026 A$50.0M Net assets at 30 June 2026 1,600 tons Bulk sample permitted to December 2029 (about 1,450 tonnes) Top 4 Antimony intercepts worldwide in three years, all Treasure Creek (S&P Global) Stibnite vein exposed in trench 25NWTR005, NW Array, Treasure Creek, looking west along strike (ASX 15 September 2025) SECURE THE ORE FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 09 TREASURE CREEK · THE ORE Some of the purest antimony ore reported anywhere 71.9% Sb Direct shipping ore, Bundtzen Vein, meeting MIL-A-22131 before processing 90.8% Antimony-bearing minerals, with arsenic, lead and copper below detection 250 m+ Main vein zone at surface, open along strike and at depth Massive stibnite veins Quartz and coarse stibnite fill at surface, with breccia zones of disseminated stibnite Grade makes the downstream simple Most antimony ores need several stages of beneficiation to reach military grade. Treasure Creek needs no concentrator at all A historic U.S. supplier Supplied the United States across three wartime periods. Scrafford, within the project, was Alaska's second-largest antimony mine Metallurgical results are from independent laboratories on selected high-grade samples, not average deposit grades. Commercial-scale validation is pending and no feasibility study is complete. Testwork: Core Resources, Blue Coast Research, University of British Columbia. Sources: ASX 19 November 2025, 26 March 2026. Photographs show material exposed or extracted at Treasure Creek. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. SECURE THE ORE Source: S&P Global Market Intelligence, August 2026. Antimony intercepts reported over the past three years, from drilling and from surface trenching, starting within 50 m of surface. Coverage reflects companies that report publicly to the database and does not include unreported results from China, Russia or Tajikistan; where no start depth is reported the intercept is at surface. Grades are % Sb; grade thickness is grade multiplied by thickness (% Sb × m). Grade thickness is a comparative measure only. It is not a Mineral Resource and is not an indication of true width. Intercepts are ranked, not holes, so a hole or trench with more than one separate zone can appear more than once; a revision supersedes the original it revises and is marked rev. Thickness is as reported and not necessarily true width. Third-party results are as publicly reported by those companies and not independently verified by Felix Gold. Treasure Creek results were previously reported by Felix Gold Limited in the announcements listed on the Disclosures page. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 10 ANTIMONY INTERCEPTS · S&P GLOBAL DATABASE The world's four best antimony intercepts on the S&P database, and nine of the U.S. top ten, all Treasure Creek World top ten All intercepts reported worldwide, three years 1 Treasure Creek 151NWTR004 trench · 3m @ 50.26% Sb from 0m 2 Treasure Creek 108 25TCDC026 · 8.97m @ 12.09% Sb from 16.8m 3 Treasure Creek 84 23TCRC155 · 15.2m @ 5.5% Sb from 21.3m 4 Treasure Creek 76 25TCDC004 · 9.8m @ 7.76% Sb from 37.6m 5 Golden Range 64 SSRC104 rev · 49m @ 1.31% Sb from 42m 6 Magwood 63 MAG010 · 12.1m @ 5.19% Sb from 0m 7 Wabamisk 62 WR25-01 · 19m @ 3.24% Sb from 1m 8 Wabamisk 57 WS25-40 · 51.5m @ 1.1% Sb from 3m 9 Wabamisk 55 A_CS_10.29.24 · 14m @ 3.92% Sb from 0m 10 Herberton 53 ARRC0001 · 7m @ 7.61% Sb from 38m GRADE THICKNESS, % Sb·m · TREASURE CREEK IN GOLD United States top ten Nine of ten, and fourteen of the top twenty, are Treasure Creek 1 Treasure Creek 151NWTR004 trench · 3m @ 50.26% Sb from 0m 2 Treasure Creek 108 25TCDC026 · 8.97m @ 12.09% Sb from 16.8m 3 Treasure Creek 84 23TCRC155 · 15.2m @ 5.5% Sb from 21.3m 4 Treasure Creek 76 25TCDC004 · 9.8m @ 7.76% Sb from 37.6m 5 Coyote Creek 50 TM_CS_09/25/2025 · 1.5m @ 33.2% Sb from 0m 6 Treasure Creek 47 23TCRC176 rev · 6.09m @ 7.68% Sb from 3m 7 Treasure Creek 46 SCTR001 trench · 3.75m @ 12.2% Sb from 0m 8 Treasure Creek 44 NWTR001 trench · 3m @ 14.49% Sb from 0m 9 Treasure Creek 43 22TCRC071 rev · 3.05m @ 14.24% Sb from 7.6m 10 Treasure Creek 43 NWTR002 trench · 8m @ 5.36% Sb from 0m GRADE THICKNESS, % Sb·m · TREASURE CREEK IN GOLD SECURE THE ORE No material environmental incidents, breaches or enforcement actions occurred during FY2026. Formal sustainability reporting aligned with the Australian Sustainability Reporting Standards and AASB S2 will follow as the project moves toward production. Photographs show material exposed or extracted at Treasure Creek. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 11 THE SUSTAINABILITY ADVANTAGE Ore purity as a commercial advantage, and an environmental one The same characteristic that removes technical risk from the flowsheet removes footprint from the ground: ore this pure at surface allows a small-scale, low-impact style of development, on a shorter path than the multi-decade projects that dominate the pipeline. Selective extraction Discrete surface veins mined precisely, not bulk tonnage Compact processing Small-scale and modular, with no concentrator or grinding circuit Minimal waste streams Clean mineralogy and low arsenic. No tailings dam for the ore-to-concentrate pathway Faster permitting No federal land, so no NEPA. Baseline complete, with no issues identified SECURE THE ORE The Company makes no statement of grade, contained metal or recoverable quantity in respect of stockpiled material. Treasure Creek has been accepted into the Alaska DNR Office of Project Management and Permitting coordination process, a voluntary service. Toll treatment is subject to commercial agreement; no binding agreement has been reached. Photographs show material exposed or extracted at Treasure Creek. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 12 PERMITTED AND EXTRACTING Permitted, 100% owned, and extracting today Bulk Sample Permit approved, 23 March 2026 Alaska DNR authorised up to 1,600 tons through December 2029 No federal land in the project footprint No NEPA and no federal Environmental Impact Statement; permitting stays with the State 100% ownership of every Treasure Creek claim Secured 30 March 2026, one week after the permit Ore mined, bagged and positioned in the United States Open-cut extraction at the Bundtzen Vein, hand-sorted and bagged as direct shipping ore Next: the mine permit Lodgement progressing, supporting mining targeted by end H1 2027 Bulk bags of stibnite-bearing material on the pad, Treasure Creek Part of the Alaska crew on site Massive stibnite broken at the face MAKE THE METAL Ore and fume grades are indicative by handheld XRF, not calibrated to certified reference standards. The ingot grade is taken from a draft mineralogical report; laboratory assays are pending and the final refining stage was not undertaken. Batch operation on bench and demonstration-scale equipment; no recovery, throughput, product specification or production target is reported or implied. No metal at any commercial specification has been produced. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 13 PILOT PLANT · 27 AUGUST 2026 The flowsheet, run end to end at pilot scale "Most critical minerals developers are still trying to prove their process. We have run ours from rock to metal." Joseph Webb, Executive Director 01 Smelt and fume Ore charged straight from hand-sorting and coarse crushing 02 Capture and reduce Antimony trioxide fume drawn to the baghouse, then reduced 03 Cast to metal Antimony metal cast from Treasure Creek ore METALLURGY BEHIND IT 71.9% Sb direct shipping ore, meeting MIL-A-22131 before processing 74% Sb concentrate from a single rougher flotation pass 98% antimony extraction by direct alkaline sulphide leach Electrowinning to antimony metal demonstrated at the University of British Columbia No concentrator, no grinding circuit and no flotation in the direct route Ingots of 127 g and 1,962 g cast, assaying 95.1% Sb in a draft mineralogical report MAKE THE METAL Frontier does not dilute Felix Gold ownership of the underlying assets; it is the vehicle through which they are monetised in the U.S. market. Render is conceptual only. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 14 FRONTIER ANTIMONY REFINERY CORP. The U.S. platform that turns Treasure Creek ore into U.S. metal Incorporation Delaware, United States. Wholly owned by Felix Gold Limited Purpose U.S. refining, metal production and marketing, buying Treasure Creek ore under an exclusive arrangement Product Military-grade antimony metal targeting MIL-A-22131 for the U.S. defence industrial base Capital structure Built for U.S. capital markets and government critical minerals programs. Felix Gold would remain the major shareholder through any future funding The commercial logic Selling ore is a business. Selling metal is a better one. Frontier is how shareholders participate in the difference CONCEPTUAL RENDER ONLY "Gold built the Company. Antimony is transforming it." Joseph Webb, Executive Director MAKE THE METAL Selection commences an award negotiation of up to 120 days. Funding is obligated only on execution of an award agreement by a Department of Energy Grants Officer, and the Department may cancel negotiations or change the amount at any time. No U.S. Government funding commitments or offtake agreements have been entered into by Felix Gold or Frontier. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 15 U.S. DEPARTMENT OF ENERGY · 19 AUGUST 2026 Selected for up to US$18 million in non-dilutive federal funding US$18M Up to, and non-dilutive, subject to award negotiation. One of nine projects selected nationally under a US$162 million program "Our strategy has never depended on federal money. It is accelerated by it." Joseph Webb, Executive Director What was selected Treasure Creek Antimony Pilot Processing Facility, under Topic Area 2b: pilot-scale projects advancing to pre-commercial demonstration Who receives the funding The selected applicant is Felix Gold Alaska Treasure Creek Inc, a wholly owned subsidiary. The Company is seeking to transfer the award to Frontier, which is developing the refinery; application of funding within the group is subject to DOE approval Non-dilutive, cost share in ore Federal funding, not equity; the DOE funding itself does not dilute Felix Gold shareholders. Company cost share in kind, to be contributed through delivery of Treasure Creek ore, with the capital and funding balance for the facility to be arranged separately What happens next Award negotiation of up to 120 days. In parallel: site selection, the refinery feasibility study and the mine permit MAKE THE METAL Design references are conceptual, based on scoping-level engineering, and are not production targets (ASX Listing Rule 19.12). No feasibility study is complete. Toll treatment discussions continue with third-party processors; no binding agreement has been reached. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 16 FRONTIER · ENGINEERING AND SITE Two feasibility studies, neither a standing start The work behind both studies has run all year. The single remaining input on the refinery side is final U.S. site selection. MINE SIDE · TREASURE CREEK Environmental baseline essentially complete, with no issues identified Groundwater wells installed and monitored; waste rock characterisation progressing Civil, mine and infrastructure design advanced with engineering partners Results from this year's 80 drill holes, pending Resource model update and maiden antimony Mineral Resource Mine permit lodgement (the Plan of Operations) Feasibility study REFINERY SIDE · FRONTIER Site-selection study delivered by Worley Group, candidate U.S. sites identified Engineering design substantially advanced, moving into detailed design Infrastructure assessment: grid power, water, road access, workforce Final U.S. site selection, state-level engagement underway Feasibility study A scalable modular facility targeting military-grade metal to MIL-A-22131, with Treasure Creek as the anchor feed. GROW THE VALUE Timelines are indicative and forward-looking. They are subject to permitting, technical studies, funding, commercial agreements, the outcome of the DOE award negotiation and Board approval, and do not constitute a production target. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 17 PATHWAY TO SHAREHOLDER VALUE Defined work, not open questions DONE · 2025 Metallurgy demonstrated 74% Sb concentrate; 98% leach extraction DONE · H1 2026 Permitted and extracting Bulk Sample Permit granted; 100% ownership; first ore in the United States DONE · AUG 2026 DOE selection and pilot metal Up to US$18M non- dilutive; metal cast at pilot scale NOW Now we execute. Select the U.S. refinery site and complete the refinery feasibility study Lodge the mine permit and complete the mine site feasibility studies Declare a maiden antimony Mineral Resource Negotiate the Department of Energy award through to execution NEXT · Q2 2027 Mining operations Mine permit approved, mining underway NEXT · H1 2028 Frontier refinery operating Subject to site selection and funding GROW THE VALUE Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared. Forward-looking statements are subject to studies, permitting, funding and Board approval. See Important notices. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 18 PROJECT RISK Where critical minerals projects fail, and where Felix Gold stands Development companies fail in five places. Where Felix Gold stands on each. Metallurgy WHERE PROJECTS FAIL Years spent making a difficult ore behave WHERE FELIX STANDS Ore to cast metal at pilot scale, with no concentrator, grinding circuit or flotation Capital WHERE PROJECTS FAIL The plant is enormous and the money runs out before it is built WHERE FELIX STANDS A short flowsheet is a smaller plant. Up to US$18M of federal funding is under award negotiation; no funds are obligated and the balance of refinery capital is not yet arranged Permitting WHERE PROJECTS FAIL Federal land triggers a multi-year environmental process WHERE FELIX STANDS No federal land, so no NEPA. Bulk Sample Permit granted, 100% of claims owned; mine permit not yet lodged Product WHERE PROJECTS FAIL Material that misses the specification the customer buys WHERE FELIX STANDS MIL-A-22131 needs 70% Sb. Treasure Creek meets it before processing Demand WHERE PROJECTS FAIL Building into a market that moved WHERE FELIX STANDS The U.S. imports nearly all its antimony, and the supply went by policy, not price GROW THE VALUE Gold Mineral Resources: NW Array Inferred 25,000,000 t at 0.58 g/t Au for 467,000 oz (ASX 20 June 2024); Grant Mine Inferred 364,000 oz, being open pit 5,124,800 t at 1.38 g/t for 227,900 oz and underground 682,300 t at 6.2 g/t for 136,100 oz (ASX 28 January 2022). No toll treatment or offtake arrangement exists with any third-party mill operator. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 19 GOLD · THE SECOND STREAM At-surface oxide gold. One dig, two metals. Not a by-product: a potential second economic stream from the same ore body, the same excavation and one permitting effort. 831 koz JORC Inferred gold, NW Array and Grant Mine 16 Moz+ Fairbanks district production; Felix is the largest landholder ~30 km By road to a Tier 1 mill, subject to agreement NW Array · 467 koz Inferred 25 Mt at 0.58 g/t Au within the Treasure Creek tenure, open in all directions Grant Mine · 364 koz Inferred Open pit 227,900 oz at 1.38 g/t; underground 136,100 oz at 6.2 g/t, free-milling Northeast Fairbanks Adjoins a major third-party gold deposit; auger sampling to 568 ppb Au Fairbanks Mining District: Treasure Creek, NW Array, Grant Mine and Northeast Fairbanks, with the Fort Knox mill 30 km by road. BOARD AND MANAGEMENT Full biographies and directorships are set out in the FY2026 Annual Report and at felixgold.com.au. FELIX GOLD LIMITED (ASX: FXG) INVESTOR PRESENTATION · OCTOBER 2026 · 20 BOARD AND MANAGEMENT A board and team that have built and listed resource businesses Ronnie Beevor NON-EXECUTIVE CHAIRMAN Over 40 years in investment banking and resources; Head of Investment Banking, Rothschild Australia Joseph Webb EXECUTIVE DIRECTOR Over 20 years in resources and manufacturing, including a decade in CEO and MD roles; formerly Rio Tinto Andrew Browne NON-EXECUTIVE DIRECTOR Geoscientist, 50 years of global exploration experience; discoveries include the Arrow uranium deposit Blair Way NON-EXECUTIVE DIRECTOR Geologist, 35 years in exploration and development; led the Shaakichiuwaanaan lithium discovery as