Announcement PDF WESTERN MINES GROUP THE MULGA TANK NICKEL SULPHIDE DISCOVERY DIGGERS AND DEALERS 4-6 AUGUST 2025 @westernmines Western Mines Group ASX: WMG www.westernmines.com.au DISCLAIMER NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Ltd ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained. This presentation is a visual aid and is not intended to be read as a stand-alone document. The material contains selected and abbreviated summary information about the Company and its activities current as at the date of this presentation. The material is of general background and does not purport to be complete. The Company is not responsible for providing updated information and assumes no responsibility to do so. NOT AN OFFER This presentation is for information purposes only and does not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company. This presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in any jurisdiction nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This presentation and its contents must not be distributed, transmitted or viewed by any person in the United States or any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. NOT INVESTMENT ADVICE To the maximum extend permitted by law, the information contained in this presentation is given without any liability whatsoever being accepted by the Company or any of its related bodies corporate or their respective directors, officers, partners, employees, advisors and agents. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision. No representation or warranty, express or implied, is made as to the accuracy, completeness or thoroughness of the information, whether as to the past or future. Recipients of this presentation should carefully consider whether the company is an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each recipient of this presentation. Therefore, recipients of this presentation may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products. FORWARD LOOKING STATEMENTS Statements and material contained in this presentation, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of the Company, industry growth or other trend projects are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties and are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. DISCLAIMER No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. To the maximum extent permitted by the law, the Company disclaims any obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. COMPETENT PERSON STATEMENT The information in this announcement that relates to exploration results and the Mineral Resource Estimate for the Mulga Tank Project complies with the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Dr Caedmon Marriott, Managing Director of Western Mines Group Ltd. Caedmon is a member of the Australian Institute of Geoscientists and the Society of Economic Geologists. Caedmon has sufficient experience that is relevant to the styles of mineralisation and type of deposits under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Caedmon consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. MONETARY VALUES Unless otherwise stated, all dollar values are in Australian Dollars (A$). The information in this presentation remains subject to change without notice. ASX:WMG Western Mines Group Company Presentation, August 2025 2 A NICKEL EXPLORATION COMPANY WESTERN MINES GROUP COMPANY OVERVIEW • Exceptional flagship project – discovery of a major komatiite hosted nickel sulphide mineral system under cover in WA • “Globally significant” – Mineral Resource 1,968Mt at 0.27% Ni over 5.3Mt contained Ni • Largest nickel sulphide deposit in Australia and Top 10 in the World • Camp-scale project targeting both low-grade disseminated and high-grade massive sulphide Western Mines Group Ltd ASX:WMG Shares Outstanding Share Price (23/07/25) Market Capitalisation Cash (30/06/25) Unlisted Options ($0.30 strike) 96,788,344 $0.25 $24.20 Million $1.56 Million 9,066,167 Equentia Natural Resources Directors and Management Top 20 Shareholders 6.9% 9.0% 49.1% • Exploration team lead by WA nickel expert Dr Ben Grguric Rex Turkington Non-Executive Chairman • Tight capital structure with ~$25m market cap Capital Markets | Corporate Management • Highly leveraged to ongoing exploration success Dr Caedmon Marriott Managing Director Exploration | Capital Markets Francesco Cannavo Non-Executive Director Business Development | Capital Markets Dr Benjamin Grguric Technical Director Exploration | Corporate Management SIGNIFICANT NEAR TERM NEWS FLOW | SMALL MARKET CAP | EXCITING RISK-REWARD ASX:WMG Western Mines Group Company Presentation, August 2025 3 RUN BY “OWNERS” FOR THE OWNERS LOOK AFTER THE SHARE COUNT AND THE SHARE PRICE WILL LOOK AFTER ITSELF 45 0 Peer 1 Peer 2 Peer 3 WM G 40 0 P3: Increase mineral resource P3: Change company name P3: MD resigns P3: “Major gold acquisition” Share Price Indexed to IPO Price (100) 35 0 P2: MD resigns, new MD with “immense experience” P3: Maiden mineral resource P2: Second MD resigns P3: Selected for BHP Xplor P2: “Transformational Cu and U acquisition” P2: Change company name P3: Chairman resigns 30 0 Peer 1 (P1) $7m IPO 68.6m shares 25 0 “Nickel discovery, development and acquisition” 20 0 P2: Lithium acquisition “Dedicated battery metal explorer” P2: Chairman resigns Peer 3 (P3) $12m IPO 115m shares “Nickel sulphide assets in Europe” P1: MD resigns “Transitioning away from nickel” P1: Gold acquisition P1: Move into uranium Peer 2 (P2) $10m IPO 104m shares “Dedicated WA nickel sulphide explorer” 15 0 P2: Third CEO/MD appointed P1: Change company name WMG: 96.8m shares = 2.2x Peer 1: 244.9m shares = 3.6x Peer 2: 514.9m shares = 5x Peer 3: 319.2m shares = 2.8x Nickel Price 10 0 50 WMG $5.5m IPO 43.8m shares 0 20 /7 /2 021 20 /1 0/202 1 20 /1 /2 022 20 /4 /2 022 20 /7 /2 022 20 /1 0/202 2 20 /1 /2 023 20 /4 /2 023 20 /7 /2 023 20 /1 0/202 3 20 /1 /2 024 20 /4 /2 024 20 /7 /2 024 20 /1 0/202 4 20 /1 /2 025 20 /4 /2 025 20 /7 /2 025 DETERMINED | PERSISTENT | FRUGAL | EFFICIENT | PER SHARE DRIVEN | HIGH-QUALITY EXPLORATION ASX:WMG Western Mines Group Company Presentation, August 2025 4 WHY NICKEL? NICKEL MARKET IS AT CYCLICAL LOWS BUT SETTING UP FOR STRUCTURALLY HIGHER FUTURE PRICES ",/0,21=BLC,<7/34=61/2,MEB12F,=E5G,E6,3100L7L2=L,9:;,<71=L5 • DEMAND Ø Stainless steel ~68% global demand = function of GDP growth #!!" +!" Ø Key component of EV battery chemistry and energy transition = demand kicker *!" Ø Analysts routinely underestimate nickel demand Ø Indonesia growing to ~75% global production = largely Chinese owned (!" '!" &!" %!" Ø “ONEC” could manage supply and pricing Ø Ore grades falling = costs rising ",/0,12345678, • SUPPLY )!" $!" Price floor and stable higher prices Ø Ore royalty increase = costs rising #!" !" ,- ,$.!!! ,&.!!! ,(.!!! ,*.!!! ,#!.!!! ,#$.!!! ,#&.!!! ,#(.!!! ,#*.!!! ,$!.!!! ,$$.!!! ,$&.!!! ,$(.!!! ,$*.!!! ,%!.!!! 9:;,<71=L?,@A6/22L Source: Macquarie Commodities Strategy June 2024 Ø Increasing push for ESG compliance = costs rising • Nickel sulphide is the lowest quartile in CO2 intensity Strategic western sulphide projects • Positive themes for pricing – supply chain security, ESG, supply chain tracing, European Battery Passport, “blood nickel”… WHERE WILL THE WESTERN WORLD SOURCE ITS FUTURE NICKEL? ASX:WMG Western Mines Group Company Presentation, August 2025 5 FRONTIER EXPLORATION IN A WORLD CLASS NICKEL PROVINCE YILGARN CRATON WESTERN AUSTRALIA • One of the world’s major nickel provinces • World-class examples of komatiite-hosted nickel deposits – Perseverance (50Mt @ 2.3% Ni), Mt Keith (643.7Mt @ 0.58% Ni) and Kambalda (35Mt @ 3.1% Ni) MULGA TANK Ni-Co-Cu-PGE PROJECT • New search space – frontier exploration for major komatiite-hosted Ni-Co-Cu-PGE deposits under cover • Strategically assembled 425km2 position on the under-explored Minigwal Greenstone Belt • Mulga Tank Ultramafic Complex (WMG 100%) is a "camp scale" project EXPLORATION MODELS ARE PERSEVERANCE AND MT KEITH Model PERSEVERANCE MT KEITH Type Type 1 Stratiform Basal Massive Sulphide Type 2 Interstitial Disseminated Sulphide Size 650m x 160m 1,900m x 400m ASX:WMG Western Mines Group Company Presentation, August 2025 6 BELT SCALE OPPORTUNITY WMG OWN 100% MAJOR KOMATIITE NICKEL SYSTEM CLOSE TO TERRANE BOUNDARY Hayward 2024: Improving Multi-Scale Structural Targeting Precision for Large Ni-Cu (PGE, Co) Sulfide Discoveries from Global Case Studies ASX:WMG Western Mines Group Company Presentation, August 2025 7 DISCOVERY OF EXTENSIVE MT KEITH-STYLE MAGMATIC SULPHIDE DISSEMINATED SULPHIDES OVER >500M INTERVALS • Deep diamond EIS holes MTD023 and MTD026 intersected extensive disseminated magmatic sulphides • MTD023: Cumulative 693.5m at 0.28% Ni, 128ppm Co, 61ppm Cu, 27ppb Pt+Pd with S:Ni 1.1 • MTD026: Cumulative 840m at 0.28% Ni, 140ppm Co, 103ppm Cu, 24ppb Pt+Pd with S:Ni 1.6 • MTD027: Cumulative 694m at 0.31% Ni, 141ppm Co, 68ppm Cu, 30ppb Pt+Pd with S:Ni 1.0 • MTD028: Cumulative 466m at 0.35% Ni, 139ppm Co, 62ppm Cu, 43ppb Pt+Pd with S:Ni 1.0 • MTD029: Cumulative 1,247m at 0.28% Ni, 134ppm Co, 76ppm Cu, 24ppb Pt+Pd with S:Ni 1.0 WITH EXAMPLES OF SHALLOW MINERALISED INTERVALS: • MTD022: 114m at 0.31% Ni, 121ppm Co, 33ppm Cu from 124m inc. 14m at 0.48% Ni, 171ppm Co, 152ppm Cu from 168m • MTD026: 130m at 0.31% Ni, 136ppm Co, 122ppm Cu from 116m inc. 13m at 0.35% Ni, 142ppm Co, 301ppm Cu from 157m • Mineralogical work confirms abundant coarse grained pentlandite ASX:WMG Western Mines Group Company Presentation, August 2025 8 GLOBALLY SIGNIFICANT NICKEL SULPHIDE SYSTEM BRAVE LITTLE COMPANY DRILLING 1,500M DIAMOND HOLES ASX:WMG Western Mines Group Company Presentation, August 2025 9 PHASE 1 RC PROGRAM CONFIRMED SHALLOW MINERALISATION FIRST SYSTEMATIC EXPLORATION OF MULGA TANK • Initial 22 hole, 7,035m RC program – 19 out of 22 holes mineralised PHASE 1 RC RESULTS: • MTRC001: Cumulative 253m at 0.24% Ni, 128ppm Co, 76ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 • MTRC002: Cumulative 111m at 0.31% Ni, 136ppm Co, 69ppm Cu, 37ppb Pt+Pd with S:Ni 0.7 • MTRC003: Cumulative 175m at 0.26% Ni, 114ppm Co, 18ppm Cu, 19ppb Pt+Pd with S:Ni 0.6 • MTRC005: Cumulative 164m at 0.26% Ni, 134ppm Co, 114ppm Cu, 20ppb Pt+Pd with S:Ni 1.3 • MTRC006: Cumulative 159m at 0.29% Ni, 125ppm Co, 29ppm Cu, 12ppb Pt+Pd with S:Ni 0.6 • MTRC007: Cumulative 168m at 0.29% Ni, 133ppm Co, 50ppm Cu, 16ppb Pt+Pd with S:Ni 1.0 • MTRC008: Cumulative 91m at 0.24% Ni, 122ppm Co, 53ppm Cu, 15ppb Pt+Pd with S:Ni 1.1 • MTRC009: Cumulative 367m at 0.26% Ni, 133ppm Co, 74ppm Cu, 25ppb Pt+Pd with S:Ni 1.3 • MTRC010: Cumulative 106m at 0.25% Ni, 119ppm Co, 25ppm Cu, 15ppb Pt+Pd with S:Ni 1.0 • MTRC011: Cumulative 110m at 0.24% Ni, 128ppm Co, 75ppm Cu, 26ppb Pt+Pd with S:Ni 1.9 • MTRC012: Cumulative 190m at 0.22% Ni, 124ppm Co, 68ppm Cu, 21ppb Pt+Pd with S:Ni 1.8 • MTRC013: Cumulative 149m at 0.29% Ni, 131ppm Co, 42ppm Cu, 30ppb Pt+Pd with S:Ni 1.0 • MTRC014: Cumulative 158m at 0.26% Ni, 121ppm Co, 37ppm Cu, 20ppb Pt+Pd with S:Ni 0.5 • MTRC015: Cumulative 129m at 0.34% Ni, 156ppm Co, 164ppm Cu, 25ppb Pt+Pd with S:Ni 1.3 • MTRC016: 200m at 0.30% Ni, 139ppm Co, 92ppm Cu, 25ppb Pt+Pd from 103m with S:Ni 1.2 • MTRC017: Cumulative 183m at 0.26% Ni, 132ppm Co, 165ppm Cu, 16ppb Pt+Pd with S:Ni 1.6 • MTRC018: Cumulative 209m at 0.28% Ni, 129ppm Co, 381ppm Cu, 18ppb Pt+Pd with S:Ni 1.3 • MTRC019: 186m at 0.28% Ni, 135ppm Co, 78ppm Cu, 22ppb Pt+Pd from 90m with S:Ni 0.9 • MTRC020: Cumulative 220m at 0.28% Ni, 132ppm Co, 112ppm Cu, 18ppb Pt+Pd with S:Ni 1.1 ASX:WMG Western Mines Group Company Presentation, August 2025 10 PHASE 2 RC FOCUSED ON THE HIGHER-GRADE CORE MULTIPLE +200M INTERVALS AND HIGHER GRADES EMERGING • 17 hole 5,534m RC completed February-March 2024 – all 17 holes mineralised • Drill hole spacing reduced to ~200m x 200m over 1km2 area PHASE 2 RC RESULTS: • MTRC023: Cumulative 115m at 0.28% Ni, 133ppm Co, 51ppm Cu, 27ppb Pt+Pd with S:Ni 0.9 • MTRC024: 199m at 0.31% Ni, 148ppm Co, 76ppm Cu, 23ppb Pt+Pd from 161m with S:Ni 1.1 • MTRC025: Cumulative 239m at 0.28% Ni, 139ppm Co, 72ppm Cu, 19ppb Pt+Pd with S:Ni 1.2 • MTRC026: 226m at 0.28% Ni, 125ppm Co, 62ppm Cu, 15ppb Pt+Pd from 86m with S:Ni 0.7 • MTRC027: Cumulative 193m at 0.26% Ni, 124ppm Co, 78ppm Cu, 22ppb Pt+Pd with S:Ni 1.0 • MTRC028: Cumulative 152m at 0.30% Ni, 134ppm Co, 109ppm Cu, 20ppb Pt+Pd with S:Ni 0.9 • MTRC029: Cumulative 138m at 0.25% Ni, 113ppm Co, 32ppm Cu, 6ppb Pt+Pd with S:Ni 0.6 • MTRC030: Cumulative 179m at 0.28% Ni, 126ppm Co, 41ppm Cu, 10ppb Pt+Pd with S:Ni 0.7 • MTRC031: 210m at 0.28% Ni, 137ppm Co, 104ppm Cu, 24ppb Pt+Pd from 87m with S:Ni 1.2 • MTRC032: 198m at 0.28% Ni, 145ppm Co, 249ppm Cu, 28ppb Pt+Pd from 108m with S:Ni 1.6 • MTRC033: Cumulative 184m at 0.27% Ni, 126ppm Co, 82ppm Cu, 18ppb Pt+Pd with S:Ni 0.9 • MTRC034: 240m at 0.30% Ni, 133ppm Co, 133ppm Cu, 36ppb Pt+Pd from 90m with S:Ni 1.0 • MTRC035: 220m at 0.28% Ni, 124ppm Co, 63ppm Cu, 25ppb Pt+Pd from 82m with S:Ni 0.7 • MTRC036: 182m at 0.27% Ni, 134ppm Co, 66ppm Cu, 27ppb Pt+Pd from 102m with S:Ni 1.0 • MTRC037: 224m at 0.29% Ni, 139ppm Co, 208ppm Cu, 25ppb Pt+Pd from 91m with S:Ni 1.0 • MTRC038: 199m at 0.31% Ni, 139ppm Co, 260ppm Cu, 27ppb Pt+Pd from 119m with S:Ni 1.3 • MTRC039: Cumulative 165m at 0.28% Ni, 125ppm Co, 73ppm Cu, 15ppb Pt+Pd with S:Ni 0.7 ASX:WMG Western Mines Group Company Presentation, August 2025 11 WITH PHASE 3 RC THE SYSTEM IS GETTING BIGGER AND BETTER EXTENDING MINERALISATION TO SOUTH AND EAST • 19 hole 6,002m RC completed July-September 2024 – all 19 holes mineralised • Infill around MTRC016, MTRC034 and follow-up on shallow high-grade results in MTRC032 and MTRC038 PHASE 3 RC RESULTS: • MTRC040: Cumulative 298m at 0.29% Ni, 131ppm Co, 65ppm Cu, 16ppb Pt+Pd with S:Ni 1.1 • MTRC041: Cumulative 254m at 0.27% Ni, 133ppm Co, 82ppm Cu, 20ppb Pt+Pd with S:Ni 1.3 • MTRC042: Cumulative 238m at 0.29% Ni, 133ppm Co, 96ppm Cu, 24ppb Pt+Pd with S:Ni 1.1 • MTRC043: 249m at 0.28% Ni, 129ppm Co, 62ppm Cu, 14ppb Pt+Pd from 111m with S:Ni 0.8 • MTRC044: Cumulative 187m at 0.28% Ni, 121ppm Co, 34ppm Cu, 10ppb Pt+Pd with S:Ni 0.8 • MTRC045: Cumulative 174m at 0.28% Ni, 125ppm Co, 49ppm Cu, 14ppb Pt+Pd with S:Ni 0.7 • MTRC046: 193m at 0.33% Ni, 152ppm Co, 310ppm Cu, 25ppb Pt+Pd from 107 with S:Ni 1.5 • MTRC047: 188m at 0.28% Ni, 129ppm Co, 57ppm Cu, 23ppb Pt+Pd from 112m with S:Ni 1.1 • MTRC048: Cumulative 173m at 0.29% Ni, 131ppm Co, 36ppm Cu, 19ppb Pt+Pd with S:Ni 0.7 • MTRC049: Cumulative 170m at 0.26% Ni, 125ppm Co, 50ppm Cu, 11ppb Pt+Pd with S:Ni 1.0 • MTRC050: Cumulative 164m at 0.28% Ni, 127ppm Co, 58ppm Cu, 13ppb Pt+Pd with S:Ni 1.0 • MTRC051: Cumulative 156m at 0.27% Ni, 133ppm Co, 212ppm Cu, 17ppb Pt+Pd with S:Ni 1.4 • MTRC052: 192m at 0.28% Ni, 125ppm Co, 63ppm Cu, 11ppb Pt+Pd from 114m with S:Ni 0.8 • MTRC053: 205m at 0.28% Ni, 129ppm Co, 85ppm Cu, 16ppb Pt+Pd from 87m with S:Ni 1.0 • MTRC054: 200m at 0.28% Ni, 124ppm Co, 31ppm Cu, 10ppb Pt+Pd from 100m with S:Ni 0.6 • MTRC055: 216m at 0.30% Ni, 144ppm Co, 109ppm Cu, 20ppb Pt+Pd from 84m with S:Ni 1.2 • MTRC056: 201m at 0.31% Ni, 134ppm Co, 176ppm Cu, 15ppb Pt+Pd from 81m with S:Ni 0.9 • MTRC057 216m at 0.27% Ni, 139ppm Co, 159ppm Cu, 13ppb Pt+Pd from 84m with S:Ni 1.1 • MTRC058 209m at 0.29% Ni, 132ppm Co, 50ppm Cu, 18ppb Pt+Pd from 91m with S:Ni 0.8 ASX:WMG Western Mines Group Company Presentation, August 2025 12 MINERAL RESOURCE ESTIMATE OF OVER 5.3MT CONTAINED NICKEL MRE (JORC 2012) OF SHALLOW MINERALISATION TO ~400M DEPTH INDICATED 565Mt at 0.28% Ni, 134ppm Co, 105ppm Cu, 18ppb Pt+Pd with S:Ni 1.0 INFERRED 1,403Mt at 0.27% Ni, 129ppm Co, 73ppm Cu, 17ppb Pt+Pd with S:Ni 0.9 TOTAL 1,968Mt at 0.27% Ni, 131ppm Co, 82ppm Cu, 17ppb Pt+Pd with S:Ni 0.9 W E W E See Appendix 1 (Slide 22) for further details ASX:WMG Western Mines Group Company Presentation, August 2025 13 LARGEST NICKEL SULPHIDE DEPOSIT IN AUSTRALIA TOTAL RESOURCE 1,968Mt AT 0.27% Ni FOR 5.3Mt CONTAINED NICKEL See Appendix 2 (Slide 23) for further details ASX:WMG Western Mines Group Company Presentation, August 2025 14 ITS NOT MT KEITH – ITS A PERSEVERANCE-STYLE HYBRID SYSTEM HIGH-GRADE COMPONENT TO MINERALISATION • Processes working to coalesce sulphides and form massive sulphide deposits • Multiple zones of remobilised massive nickel sulphide veinlets, in-situ immiscible globules and sulphide segregations seen in diamond core across the Complex • MTD012: 0.5m at 1.49% Ni, 0.04% Cu and 0.04% Co from 385.8m • MTD013: 1.6m at 0.83% Ni and 0.30g/t Pt+Pd from 304m inc. 0.4m at 1.34% Ni, 0.04% Co and 0.55g/t Pt+Pd from 304.4m and 0.4m at 1.29% Ni and 0.43g/t Pt+Pd from 153.6m • MTD022: 0.15m at 2.73% Ni, 0.08% Cu, 0.06% Co and 0.10g/t Pt+Pd from 525.15m and 0.5m at 1.42% Ni, 0.05% Cu, 0.04% Co and 0.41g/t Pt+Pd from 553m • MTD023: 1.5m at 1.88% Ni, 0.04% Cu, 0.07% Co from 402m • MTD026: 0.5m at 1.21% Ni, 0.05% Co, 0.15% Cu, 0.1g/t Pt+Pd from 116.5m and 0.3m at 1.88% Ni, 0.08% Co, 0.08% Cu, 0.2g/t Pt+Pd from 224.3m • MTD027: 1.0m at 1.05% Ni, 0.03% Co, 0.01% Cu, 0.1g/t Pt+Pd from 504m • Sulphide material migrates along faults and fractures – from where? ASX:WMG Western Mines Group Company Presentation, August 2025 15 SHALLOW HIGH-GRADE RESULTS IN RC DRILLING SEMI-MASSIVE NICKEL-COPPER SULPHIDE IN RC • Higher grade results in the central-eastern area of the Complex • MTRC015: 1m at 1.11% Ni, 516ppm Co, 0.45% Cu, 62ppb Pt+Pd from 172m 3m at 1.32% Ni, 56ppm Co, 0.10% Cu, 34ppb Pt+Pd from 184m 2m at 1.71% Ni, 836ppm Co, 0.10% Cu, 0.4g/t Pt+Pd from 229m • MTRC018: 1m at 1.84% Ni, 0.10% Co, 4.88% Cu, 26ppb Pt+Pd from 293m • MTRC024: 3m at 2.19% Ni, 777ppm Co, 597ppm Cu, 9ppb Pt+Pd from 253m inc. 1m at 4.51% Ni, 0.16% Co, 0.14% Cu, 16ppb Pt+Pd from 253m • MTRC032: 1m at 1.08% Ni, 602pm Co, 379ppm Cu, 83ppb Pt+Pd from 131m 6m at 1.01% Ni, 443ppm Co, 0.32% Cu, 0.12g/t Pt+Pd from 254m • MTRC038: 2m at 1.51% Ni, 539ppm Co, 0.72% Cu, 94ppb Pt+Pd from 135m 1m at 3.16% Ni, 662ppm Co, 385ppm Cu, 0.18g/t Pt+Pd from 192m • MTRC046: 4m at 1.14% Ni, 501ppm Co, 803ppm Cu, 0.14g/t Pt+Pd from 224m 5m at 1.92% Ni, 711ppm Co, 0.21% Cu, 0.18g/t Pt+Pd from 283m • MTRC055: 4m at 1.16% Ni, 345ppm Co, 0.13% Cu, 6ppb Pt+Pd from 182m inc. 1m @ 2.46% Ni, 641ppm Co, 0.43% Cu, 18ppb Pt+Pd from 183m ASX:WMG Western Mines Group Company Presentation, August 2025 16 WHAT LIES AT DEPTH WITHIN THIS EXTENSIVE SULPHIDE SYSTEM? THERE’S A MONSTER HIDING SOMEWHERE • Intersections of “cloud” sulphide potentially vectoring towards sulphide enriched keel and/or feeder vent: • MTD023: 88m at 0.44% Ni, 151ppm Co from 1,212m • MTD027: 96m at 0.40% Ni, 161ppm Co from 1,208m inc. 38m at 0.56% Ni, 159ppm Co from 1,262m inc. 8m at 1.11% Ni, 181ppm Co from 1,270m • MTD028: 140m at 0.49% Ni, 161ppm Co from 874m inc. 82m at 0.55% Ni, 173ppm Co from 886m • MTD029: 126m at 0.42% Ni, 153ppm Co from 1,326m inc. 12m at 0.57%, 181ppm Co from 1,326m that inc. 2m at 1.09% Ni, 242ppm Co from 1,334m and inc. 34m at 0.50% Ni, 160ppm Co from 1,416m ASX:WMG Mines Group Company Presentation, August 2025 17 GEOCHEMICAL TRENDS UNLOCKING ARCHITECTURE HIGHLY PROSPECTIVE BASAL ZONE MTD028 ~1,300m MTD029 ~800m • 91 occurrences of high-grade sulphide across 13 diamond holes over ~4km2 area MTD027 Dolerite unit Mineralised Zone Mineralised Zone Mineralised Zone Unmineralised Unmineralised Unmineralised Mineralised Zone with 96m at 0.40% Ni inc. 38m at 0.56% Ni inc. 8m at 1.11% Ni Example of structural vein sulphide (MTD027) Unmineralised Mineralised Zone with 140m at 0.49% Ni inc. 82m at 0.55% Ni Mineralised Zone with 126m at 0.42% Ni inc. 12m at 0.57% Ni inc. 2m at 1.09% Ni and inc. 34m at 0.50% Ni Unmineralised Unmineralised Mineralised Zone Mineralised Zone Basal contact Example of sulphide melt pockets (MTD029 EIS3) ASX:WMG Western Mines Group Company Presentation, August 2025 18 COULD BE KAMBALDA – PROSPECTIVE UNEXPLORED KOMATIITE CHANNELS CONFIRMED GEOLOGICAL INTERPRETATION AND BELT-SCALE MINERAL SYSTEM • Komatiite sequence with A-B zones logged in the Panhandle • Evidence of prospective high-grade mineralisation: • MTD006: 0.25m at 3.8% Ni, 0.7% Cu and 0.7g/t PGE from 221.6m • MTD016: 0.3m at 1.57% Ni, 0.13% Cu and 0.12g/t Pt+Pd from 281.9m • 15km strike of interpreted channels completely unexplored – waiting grant E39/2299 • Completed belt-wide MobileMT survey – further geophysics planned • Recently drilled first regional RC holes with aid of EIS grant – nickel sulphide in ~300m thick high MgO B-zone komatiite observed ~5km from main body of Complex ASX:WMG Western Mines Group Company Presentation, August 2025 19 TRACKING DOWN ZONES OF HIGH-GRADE MINERALISATION PHASE 4 DRILLING PROGRAM - RESOURCE EXTENSION, INFILL AND HIGH-GRADE TARGETS RC Drilling • Resource extension: 4 holes to south of current resource • Resource infill: 3 holes between Indicated zones Diamond Drilling • Two recent EIS grants totalling $440,000: Ø Main Body deep diamond hole EIS8 Ø Panhandle diamond holes EIS9 and EIS10 • “Western Press”: diamond tails targeting basal contact near MTD028 • DHEM and twin holes testing high-grade results in MTRC046, MTRC051, MTRC055 and MTRC056 ASX:WMG Western Mines Group Company Presentation, August 2025 20 EXCITING DISCOVERY OPPORTUNITY EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits will be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal to maximise exploration spend and minimise equity dilution • We are per share driven – at the end value created will be divided by shares outstanding FOR FURTHER INFORMATION PLEASE CONTACT: JOIN OUR INVESTORHUB: Dr Caedmon Marriott Managing Director Western Mines Group Ltd FOLLOW US Email: contact@westernmines.com.au Tel: +61 475 116 798 @westernmines Western Mines Group ASX: WMG This announcement has been authorised for release to the ASX by the Board of Western Mines Group Ltd Refer to Western Mines Group Ltd ASX Announcements for relevant disclosures, no material changes to previously disclosed information ASX:WMG Western Mines Group Company Presentation, August 2025 www.westernmines.com.au 21 APPENDIX 1: MULGA TANK MINERAL RESOURCES ESTIMATE ASX, Mulga Tank Mineral Resources Over 5Mt Contained Nickel, 10 April 2025 Refer to Western Mines Group Ltd ASX Announcements for relevant disclosures, no material changes to previously disclosed information ASX:WMG Western Mines Group Company Presentation, August 2025 22 APPENDIX 2: AUSTRALIAN NICKEL SULPHIDE DEPOSITS Australian nickel sulphide deposits with total measured, indicated and inferred resources of contained nickel >100Kt Ni Numbers may not add up due to rounding ASX:WMG Western Mines Group Company Presentation, August 2025 23