ASX: WMG www.westernmines.com.au @westernmines Western Mines Group WESTERN MINES GROUP THE MULGA TANK NICKEL SULPHIDE DISCOVERY COMPANY PRESENTATION DIGGERS AND DEALERS 3-5 AUGUST 2026 ASX:WMG Western Mines Group Company Presentation, August 2026 DISCLAIMER 2 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. 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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 types of deposit 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$). The information in this presentation remains subject to change without notice. A NICKEL EXPLORATION COMPANY ASX:WMG 3 Western Mines Group Company Presentation, August 2026 CAPITAL STRUCTURE Foundation of the Company Per share driven 130.6m shares – just 3x since listing 5 years ago Exit value divided by shares outstanding TEAM Explorers and financiers Driven by discovery – in it for the score Exploration lead by WA nickel expert Dr Ben Grguric Determined and persistent, frugal and efficient ethos EXCEPTIONAL FLAGSHIP PROJECT Discovery of major komatiite hosted nickel sulphide mineral system under cover in WA Largest nickel sulphide deposit ever found in Australia and Top 10 in the World Camp-scale project with multiple deposits to be found FIRST RE-RATE THE COMPANY BASE CASE VALUATION… • “Globally significant” Mineral Resource 1,968Mt at 0.27% Ni over 5.3Mt contained Ni • NOT similar to Canadian peers with US$ 2.5Bn NPV8 but it suits us to use that analogy if we can demonstrate equivalent project metrics • Trust the Lasonde Curve and efficient markets – if peers trade at 25-50% PFS NPV8 will the market give us for a Scoping Study? …THEN DREAM BIGGER • We believe Mulga Tank is a major Type 1-2 hybrid nickel sulphide mineral system • High impact exploration – Determination to find the next Perseverance COMPANY OVERVIEW ASX:WMG 4 Rex Turkington Non-Executive Chairman Capital Markets | Corporate Management 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 Western Mines Group Company Presentation, August 2026 0 50 100 150 200 250 300 350 400 450 20/ 7/202 1 20/ 1/202 2 20/ 7/202 2 20/ 1/202 3 20/ 7/202 3 20/ 1/202 4 20/ 7/202 4 20/ 1/202 5 20/ 7/202 5 20/ 1/202 6 20/ 7/202 6 Peer 1 Peer 2 WMG Share Price Indexed to IPO Price (100) WMG: 130.4m shares = 3.0x Peer 1: 399.9m shares = 5.8x Peer 2: 856.1m shares = 8.2x Peer 1 $7m IPO 68.6m shares “Nickel discovery, development and acquisition” Peer 2 $10m IPO 104m shares “Dedicated WA nickel sulphide explorer” Nickel Price Shares Outstanding1 Share Price2 Market Capitalisation Cash3 Listed Investments1 Options and Rights 130,423,669 $0.19 $24.78 Million $2.52 Million $1.00 Million 32,100,577 Western Mines Group Ltd ASX:WMG Notes: 1 – After completion of recent capital raise 5 August 2026 2 – Closing share price 31 July 2026 3 – At at 30 June 2026 LOOK AFTER THE SHARE COUNT AND THE SHARE PRICE WILL LOOK AFTER ITSELF • 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 YILGARN CRATON WESTERN AUSTRALIA ASX:WMG 5 FRONTIER EXPLORATION IN A WORLD CLASS NICKEL PROVINCE Western Mines Group Company Presentation, August 2026 ASX:WMG 6 A NEW NICKEL BELT EMERGING MAJOR KOMATIITE NICKEL SYSTEM CLOSE TO TERRANE BOUNDARY Western Mines Group Company Presentation, August 2026 • Mulga Tank Ultramafic Complex – camp scale opportunity WMG own 100% • Focus to date on has been on the main dunite body • Multiple other dunite bodies along the belt • ~20km strike of interpreted Kambalda-style komatiite channels essentially unexplored • First holes into Panhandle – nickel sulphide in ~300m thick high MgO B-zone komatiite ~5km from main body of Complex 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 7 FIRST EVER SYSTEMATIC EXPLORATION OF MULGA TANK • 94 RC holes totalling 29,297m drilled so far • Systematic ~200m x 200m and ~100m x 100m spacing to average 320m depth • First 58 holes used in Mineral Resource Estimate April 2025 (Phases 1-3) • Further 36 holes subsequently completed in Phases 4 and 5 MULTIPLE HOLES MINERALISED OVER >200m WIDTHS INCLUDING: • MTRC016: • MTRC024: • MTRC034: • MTRC037: • MTRC038: • MTRC046: • MTRC055: • MTRC056: • MTRC066: • MTRC069: 200m at 0.30% Ni, 139ppm Co, 92ppm Cu, 25ppb Pt+Pd from 103m with S:Ni 1.2 199m at 0.31% Ni, 148ppm Co, 76ppm Cu, 23ppb Pt+Pd from 161m with S:Ni 1.1 240m at 0.30% Ni, 133ppm Co, 133ppm Cu, 36ppb Pt+Pd from 90m with S:Ni 1.0 224m at 0.29% Ni, 139ppm Co, 208ppm Cu, 25ppb Pt+Pd from 91m with S:Ni 1.0 199m at 0.31% Ni, 139ppm Co, 260ppm Cu, 27ppb Pt+Pd from 119m with S:Ni 1.3 193m at 0.33% Ni, 152ppm Co, 310ppm Cu, 25ppb Pt+Pd from 107 with S:Ni 1.5 216m at 0.30% Ni, 144ppm Co, 109ppm Cu, 20ppb Pt+Pd from 84m with S:Ni 1.2 201m at 0.31% Ni, 134ppm Co, 176ppm Cu, 15ppb Pt+Pd from 81m with S:Ni 0.9 269m at 0.33% Ni, 144ppm Co, 215ppm Cu, 27ppb Pt+Pd from 61m with S:Ni 1.1 225m at 0.32% Ni, 145ppm Co, 94ppm Cu, 20ppb Pt+Pd from 93m with S:Ni 1.0 RC PROGRAMS DEFINE EXTENSIVE SHALLOW MINERALISATION Western Mines Group Company Presentation, August 2026 ASX:WMG 8 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 MINERAL RESOURCE ESTIMATE OF OVER 5.3MT CONTAINED NICKEL E W E W See Appendix 1 (Slide 20) for further details Western Mines Group Company Presentation, August 2026 ASX:WMG 9 LARGEST NICKEL SULPHIDE DEPOSIT IN AUSTRALIA… TOTAL RESOURCE 1,968Mt AT 0.27% Ni FOR 5.3Mt CONTAINED NICKEL See Appendix 2 (Slide 21) for further details Western Mines Group Company Presentation, August 2026 ASX:WMG 10 …AND LIKELY TOP 10 IN THE WORLD • Largest nickel sulphide deposits in the world: • Canada Nickel (TSX-V:CNC) leading the way – Crawford BFS October 2023: Proven and Probable Reserves of 1.715Bnt at 0.22% Ni Mining and processing 42Mtpa with 2.33:1 strip ratio LoM Producing 38Ktpa Ni for 41yrs with 41% LoM Ni recovery US$1.9Bn initial capex NPV8 US$ 2.5Bn with 17.1% after-tax IRR Total onsite costs US$10.88/t milled with estimated US$3,395/t net AISC • Minimum 30Mtpa operation • >40year minelife • >0.25% Ni orebody • >40% Ni recovery • <2:1 strip ratio • <A$4.00/t unit mining cost PROJECT REQUIREMENTS Deposit Contained Nickel (M&I) Ni Grade Producing Company Norilsk-Talnakh (Russia) 11.3Mt 0.75% Yes Nornickel Crawford (Canada) 6.0Mt 0.24% No Canada Nickel Dumont (Canada) 4.4Mt 0.27% No Magneto Investments Jinchuan (China) 4.4Mt 1.39% Yes Jinchuan Group Sotkamo (Finland) 3.9Mt 0.23% Yes Terrafame Turnagain (Canada) 3.2Mt 0.21% No GigaMetals Mt Keith/Yakabindie (Australia) 2.6Mt 0.58% No BHP Decar (Canada) 2.4Mt 0.21% No FPX Nickel Source: Canada Nickel Investor Presentations April 2023 and July 2025 LARGE LOW-GRADE NICKEL SULPHIDE WILL BECOME AND ESSENTIAL NEW SUPPLY OF WESTERN WORLD NICKEL Source: Crawford Nickel Sulphide Project NI 43-101 Technical Report and Feasibility Study October 2023 Western Mines Group Company Presentation, August 2026 ASX:WMG 11 CURRENT PROGRAMS FOCUSED ON INITIAL 3YR STARTER PIT GOT THE TONNES… NOW FOLLOW-UP ON HIGHER-GRADES • Initial resource is robust versus Canadian peers but believe Mulga Tank system can do more • Exploration goal to find near surface zone of +0.40% Ni material to optimise NPV and payback of an eventual mine plan • Initially targeting around two best holes to date: MTRC046 Ø 193m at 0.33% Ni from 107m inc. 5m at 1.92% Ni from 283m Ø Similar high-grade +1-2% Ni intervals in surrounding holes MTRC032, MTRC038, MTRC051and MTRC055 Ø 4 x RC and 2 x DD holes following up on this area MTRC066 Ø 269m at 0.33% Ni from 61m inc. 82m at 0.43% Ni from 61m that inc. 6m at 1.18% Ni from 94m Ø Outside of current resource shell with no drill holes within ~320m Ø 10 x RC holes (inc. 3 x Phase 4 holes) targeting shallow +0.40% Ni zone OTHER Ø 5 x RC holes testing new areas of Complex Western Mines Group Company Presentation, August 2026 ASX:WMG 12 SEMI-MASSIVE NICKEL-COPPER SULPHIDE IN RC SHALLOW HIGH-GRADE RESULTS IN RC DRILLING • Higher grade results in the central-eastern area of the Complex • MTRC015: • MTRC018: • MTRC024: • MTRC032: • MTRC038: • MTRC046: • MTRC055: • MTRC066: • MTRC069: 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 1m at 1.84% Ni, 0.10% Co, 4.88% Cu, 26ppb Pt+Pd from 293m 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 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 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 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 4m at 1.16% Ni, 345ppm Co, 0.13% Cu, 6ppb Pt+Pd from 182m inc. 1m at 2.46% Ni, 641ppm Co, 0.43% Cu, 18ppb Pt+Pd from 183m 6m at 1.18% Ni, 480ppm Co, 0.11% Cu, 46ppb Pt+Pd from 94m 4m at 2.17% Ni, 870ppm Co, 941ppm Cu, 0.11g/t Pt+Pd from 289m inc. 1m at 4.35% Ni, 0.17% Co, 0.19% Cu, 0.29g/t Pt+Pd from 289m Western Mines Group Company Presentation, August 2026 ASX:WMG 13 DISSEMINATED SULPHIDES OVER >500M INTERVALS BIGGER PICTURE – THE SCALE OF THE SYSTEM IS IMMENSE • EIS co-funded deep diamond holes MTD023, MTD026 and MTD029 intersected extensive disseminated magmatic sulphides • MTD023: • MTD026: • MTD027: • MTD028: • MTD029: • Mineralogical work confirms abundant coarse grained pentlandite Cumulative 693.5m at 0.28% Ni, 128ppm Co, 61ppm Cu, 27ppb Pt+Pd with S:Ni 1.1 Cumulative 840m at 0.28% Ni, 140ppm Co, 103ppm Cu, 24ppb Pt+Pd with S:Ni 1.6 Cumulative 694m at 0.31% Ni, 141ppm Co, 68ppm Cu, 30ppb Pt+Pd with S:Ni 1.0 Cumulative 466m at 0.35% Ni, 139ppm Co, 62ppm Cu, 43ppb Pt+Pd with S:Ni 1.0 Cumulative 1,247m at 0.28% Ni, 134ppm Co, 76ppm Cu, 24ppb Pt+Pd with S:Ni 1.0 Western Mines Group Company Presentation, August 2026 ASX:WMG 14 BRAVE LITTLE COMPANY DRILLING 1,500M DIAMOND HOLES GLOBALLY SIGNIFICANT NICKEL SULPHIDE SYSTEM Western Mines Group Company Presentation, August 2026 ASX:WMG 15 HIGH-GRADE COMPONENT TO MINERALISATION ITS NOT MT KEITH – ITS A PERSEVERANCE-STYLE HYBRID SYSTEM • 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 • 91 occurrences of high-grade sulphide across 13 diamond holes over ~4km2 area Ø You don’t get that at Mt Keith • Sulphide material migrates along faults and fractures – from where? Example of structural vein sulphide (MTD027) Example of sulphide melt pockets (MTD029 EIS3) Western Mines Group Company Presentation, August 2026 ASX:WMG 16 GEOCHEMICAL TRENDS UNLOCKING ARCHITECTURE Unmineralised Unmineralised Unmineralised Unmineralised Unmineralised Unmineralised Mineralised Zone Mineralised Zone Mineralised Zone Mineralised Zone Mineralised Zone MTD027 MTD029 MTD028 Mineralised Zone with 96m at 0.40% Ni inc. 38m at 0.56% Ni inc. 8m at 1.11% 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 Mineralised Zone with 140m at 0.49% Ni inc. 82m at 0.55% Ni Basal contact Dolerite unit ~800m ~1,300m HIGHLY PROSPECTIVE BASAL ZONE • Intersections of “cloud” sulphide potentially vectoring towards sulphide enriched keel and/or feeder vent: • MTD023: • MTD027: • MTD028: • MTD029: • Two active basal layers emerging – interpreted as independent highly prospective sulphur saturated magma pulses Ø Continue to target enriched zones with diamond tails for Perseverance-style deposit Ø Trace mineralised zones closer to surface where ~130m at 0.4% Ni = starter pit 88m at 0.44% Ni, 151ppm Co from 1,212m 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 140m at 0.49% Ni, 161ppm Co from 874m inc. 82m at 0.55% Ni, 173ppm Co from 886m 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 Western Mines Group Company Presentation, August 2026 ASX:WMG 17 TWO HIGHLY PROSPECTIVE BASAL ZONES BEGINNING TO BE MAPPED FIRST PRIZE PERSEVERANCE, SECOND PRIZE UP DIP NEAR SURFACE +100M AT +0.40% NI = STARTER PIT Western Mines Group Company Presentation, August 2026 ASX:WMG 18 WORKING TOWARDS A SCOPING STUDY ON THE SHALLOW OPEN-PIT RESOURCE APPROACHING A RE-RATING OPPORTUNITY BRINGING TOGETHER SEVERAL WORKSTREAMS OVER THE NEXT FEW MONTHS • Recent completion of Phase 5 drilling • Assay results from 36 Phase 4 and 5 holes to be incorporated into a resource upgrade • Ongoing metallurgical test work • Nearing completion of initial Capex and Opex engineering studies • Mining plan and financial modelling Ø Initial Scoping Study TARGETING PERSEVERENCE-STYLE HIGH-GRADE DEPOSITS AT DEPTH • Multiple recent deep diamond tails have continued to highlight two highly prospective basal zones • Significant basal zone MTRC009 (EIS9): • EIS geophysical award for active seismic survey across the Complex – preparations underway for Aug-Sept • Visualise 3D architecture of the Complex, map the prospective basal contact and possible feeder vent Ø Vector towards the main prize Western Mines Group Company Presentation, August 2026 116m at 0.50% Ni, 164ppm Co, 93ppm Cu, 59ppb Pt+Pd from 1303m inc. 38m at 0.71%% Ni, 207ppm Co, 188ppm Cu, 0.10g/t Pt+Pd from 1324m EXCITING DISCOVERY OPPORTUNITY EXPLORATION PHILOSOPHY ASX:WMG 19 FOR FURTHER INFORMATION PLEASE CONTACT AND VISIT US AT BOOTH 102: 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 FOLLOW US Dr Caedmon Marriott Managing Director Western Mines Group Ltd Email: contact@westernmines.com.au Tel: +61 475 116 798 • 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 ASX: WMG www.westernmines.com.au @westernmines Western Mines Group Western Mines Group Company Presentation, August 2026 ASX:WMG 20 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 Western Mines Group Company Presentation, August 2026 ASX:WMG 21 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 Western Mines Group Company Presentation, August 2026