【正文】 Appendices AgAu Capital Pty Ltd Overview of AgAu Capital Pty Limited Compelling Market Opportunity ? Gold/Silver is the only Currency not beholden to a Government. ? Gold/Silver is traditionally the most effective hedge against loose moary policy. ? Gold/Silver equities offer leveraged exposure to gold price rises ? Gold/Silver equities are massively undervalued relative to gold ? Low/No correlation to other assets, notably in extreme market conditions. Fundamental Approach ? Select panies with lowest cost per ounce of reserves ? Select panies most likely to convert resources into production. ? Select panies with highest cost of production which provide greatest leverage to increasing gold price ? Historic Gold Producing landholders ? Diversify production to minimize Sovereign risk Experienced Team ? Senior team 20 years experience in Investment Banking, Trading and Commodity Price Risk Management. ? Preeminent market insight/analysis, trading and risk management skills. ? Producer Financial Risk Management, Central Bank Operations, Project Finance Analysis, Proprietary Trading, International Investment Bank Commodity Exposure and Risk Management, Market leading MacroEconomic analysis Strong Performance ? Significant outperformance of traditional Equity returns. ? Reduced volatility versus parable indexes. ? Negative Interest Rates for equivalent rated assets. A Uniquely Experienced Team and a Compelling Market Opportunity I. Overview Industry Overview ? Global Mine Supply in Significant Decline Peak Global Gold production seen in 2022 South Africa, Australia, USA suffering increasingly large production declines No significant discovery of Precious Metals deposits this decade Significant Reserve depletion via Mine Production Silver to outperform Gold in ing years. No stockpile. Inelastic supply Discontinuance of Central Bank Sales and Producer Hedging ? Massive Increase in Global Demand for Physical Precious Metals Investment Demand (Traditional and Situational) Fiat Currency rejection Safe Haven Currency / Risk Diversification Capital Preservation versus Capital Appreciation II. Market Opportunity Gold Since the Nixon Default II. Market Opportunity Declining Supply amp。AgAu Global Producer Fund January 2022 Strictly Private and Confidential The information contained in this document is provided to you by Agau Capital Pty Limited (“AgAu”). This document and the matters discussed with you pursuant to this document are confidential information of AgAu (“Confidential Information”). By receiving this Confidential Information, you are deemed to have agreed (i) that you will treat the information confidentially。 (ii) not to disclose any Confidential Information to any person。 Rising Demand II. Market Opportunity C e n tr a l B a n k G o l d S a l e s (to n n e s )01002003004005006007002022 2022 2022 2022 2022 2022 E s t 2 0 0 9G l o b a l M i n e P r o d u c ti o n (to n n e s )05001000150020222500300019701972197419761978198019821984198619881990199219941996199820002002200420062008Equity Market Overview II. Market Opportunity ? Gold equities form a tiny ponent of the overall equity market. A minor increase in capital allocation to the Precious Metal sector will have a dramatic effect on associated equity prices. ? The HUI Index of 15 largest Unhedged Gold Producers has parable market capitalisation to McDonalds Corporation or Boeing Inc. ? Every Gold and Silver mine in the World can today be bought for less than the market capitalisation of large US retailer, Walmart. ? Precious Metals equities are massively undervalued relative to the physical metal. Gold shares, when valued versus the gold price are cheaper than when gold was $270 per ounce in 2022. ? Natural Leverage of Producers to the Metal Price. The inherent call option of unhedged gold in the ground. Equity Market Overview II. Market Opportunity Gold/HUI Ratio 20 02 200 81 . 0 01 . 5 02 . 0 02 . 5 03 . 0 03 . 5 04 . 0 0Feb02Jun02Oct02Feb03Jun03Oct03Feb04Jun04Oct04Feb05Jun05Oct05Feb06Jun06Oct06Feb07Jun07Oct07Feb08Jun08Oct08G ol d/ H U I R a t i o? Gold shares, when valued versus the gold price are cheaper than when gold was $270 per ounce in 2022. Compelling Market Opportunity II. Market Opportunity Long Term Trend Market Capitalisation 175 bio G E 171 bio Microsoft 166 bio AT