Genesis Delivers Superior Proposal to Vault - Presentation

• Genesis proposes a superior acquisition offer for Vault
• Vault's Board considers Genesis' proposal superior
• Potential synergies estimated at over A$2.0 billion

Genesis has delivered a superior proposal to merge with Vault, offering Vault shareholders 0.7629 new Genesis shares plus $0.475 in cash for every Vault share held, implying a value of $5.274 per Vault share. This represents a 14.5% premium to the implied offer price of $4.61 per share under the Regis Scheme of Arrangement. If implemented, Genesis shareholders would own approximately 59.8% of the enlarged Genesis Group, with Vault shareholders owning the remaining 40.2%. The enlarged Genesis Group would have pro-forma Ore Reserves of 9.4 million ounces and Mineral Resources of 33.6 million ounces, with pro-forma production of 600-700,000 ounces per annum. Genesis estimates potential synergies of over A$2.0 billion (post-tax) across ten years, including approximately A$1.5 billion in synergies unique to a combination of Genesis and Vault, and approximately A$0.5 billion of corporate and tax synergies.

Potential synergies estimated at over A$2.0 billion (post-tax) across ten years

If the Proposed Scheme is implemented, it would create a new Australian gold major with enhanced scale, liquidity, and market relevance.