Announcement PDF 1 Investor Presentation | May 2026 INVESTOR PRESENTATION MULTIPLE DRILL-READY TARGETS May 2026 Investor Presentation | Confidential ASX: 10X 2 Important Notices and Disclaimer These presentation has been prepared by Exultant Mining Ltd (Company) as at 12 May 2026 and statements are current only as at that date. Information in the Presentation Materials remains subject to change without notice. The Company has no responsibility or obligation to inform you of any matter arising or coming to its notice, after the date of this document, which may affect any matter referred to in this document. By receiving the Presentation Materials, 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 these Presentation Materials to obtain all necessary approvals to receive these Presentation Materials and receipt of the Presentation Materials will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained. NOT AN OFFER These Presentation Materials are for information purposes only. The Presentation Materials do not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law. The Presentation Materials also do 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 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. In particular, these Presentation Materials do not constitute an offer to sell, or a solicitation to buy, securities in the United States of America. NOT INVESTMENT ADVICE The Presentation Materials are not investment or financial product advice (nor tax, accounting or legal advice) and are not intended to be used for the basis of making an investment decision. Recipients should obtain their own advice before making any investment decision. SUMMARY INFORMATION The Presentation Materials do 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. The Presentation Materials contain summary information about the Company and its activities which is current as at the date of the Presentation Materials. The information in the Presentation Materials is of a general nature and does not purport to contain all the information which a prospective investor may require in evaluating a possible investment in the Company or that would be required in a prospectus or product disclosure statement or other offering document prepared in accordance with the requirements of Australian law or the laws of any other jurisdiction, including the United States of America. While reasonable care has been taken in relation to the preparation of the Presentation Materials, none of the Company or its directors, officers, employees, contractors, agents, or advisers nor any other person (Limited Party) guarantees or makes any representations or warranties, express or implied, as to or takes responsibility for, the accuracy, reliability, completeness or fairness of the information, opinions, forecasts, reports, estimates and conclusions contained in this document. No Limited Party represents or warrants that this document is complete or that it contains all information about the Company that a prospective investor or purchaser may require in evaluating a possible investment in the Company or acquisition of securities in the Company. To the maximum extent permitted by law, each Limited Party expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom. JORC DISCLAIMER The information in the Presentation Materials relating to exploration results has been reported by the Company in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves’ (JORC Code) previously (refer to the Company’s ASX announcements available at https://exultantmining.com.au/investors-dashboard/asx-announcements/) The Company confirms that it is not aware of any new information as at the date of the Presentation Materials that materially affects the information included in the Presentation Materials and that all material assumptions and technical parameters underpinning the estimates in the Company’s prospectus continue to apply and have not materially changed. FORWARD LOOKING STATEMENTS Certain statements contained in the Presentation Materials, including information as to the future financial or operating performance of the Company and its projects, are forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward looking statements are provided as a general guide only, and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward looking statement. Subject to any continuing obligations under applicable law the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements in this document to reflect any change in expectations in relation to any forward looking statements or any change in events, conditions or circumstances on which any such statement is based. 3 CORPORATE SNAPSHOT Founders 13.4% Vendors 10.7% Board 3.5% Pre-IPO 5.8% Others, 66.6% OWNERSHIP STRUCTURE SHARES ON ISSUE 37.4M* PRICE $0.195* MARKET CAP $7.3M* CASH $3.8M** ENTERPRISE VALUE $3.5M 7M OPTIONS (3YR, 30C) 1M PERFORMANCE RIGHTS (3YR) 8M* *As at 12 May 2026 **As at 31 March 2026 Brett Grosvenor Executive Chairman Lincoln Ho Non-Executive Director Alan Armstrong Non-Executive Director Seb Hind Exploration Manager BOARD MANAGEMENT 4 Investor Presentation | May 2026 KEY ACHIEVEMENTS SINCE LISTING Rapid Progress Since December 2025 Listing Secured key land access and expanded Black Hammer footprint with Tuglow EL granted and Swatchfield application lodged. High-grade rock chip results from early work: 50.9 g/t Au (Undoo Creek), 339 g/t Ag (Big Badja) Soil sampling survey defined 900m-long Cu-Pb-Zn-Ag-Au anomaly at Balerion Follow-up geophysical surveys define multiple high-priority drill targets at the Balerion prospect Balerion drilling application granted; Maiden drilling commencing May 5 Investor Presentation | May 2026 Peak View Project – Prospect Location Map Over Lachlan Orogen Geology PEAK VIEW PROJECT MULTIPLE EMERGING HIGH - GRADE BASE AND PRECIOUS METAL PROSPECTS BIG BADJA SILVER MINE (EL8931) Exceptional silver grades in rock chips: ➢ 339 g/t Ag ➢ 256 g/t Ag ➢ 108 g/t Ag BALERION PROSPECT (EL9411) Exceptional base and precious metal grades in historic drilling: ➢ 4.25% Cu ➢ 1270g/t Ag ➢ 2.29g/t Au ➢ 22% Zn ➢ 11.6% Pb UNDOO CREEK (EL8931) Exceptional gold grades in rock chips: ➢ 50.9 g/t Au ➢ 12.6 g/t Au ➢ 8.4 g/t Au ➢ 6.4 g/t Au ➢ 5.4 g/t Au ➢ 93.4 g/t Ag 6 Investor Presentation | May 2026 MULTIPLE HIGH-PRIORITY TARGETS DEFINED FROM GEOPHYSICS 3D image looking NW showing the western coincident chargeable-gravity high anomaly that is untested by historic drilling COMPELLING COINCIDENT TARGETS: ➢ 1.1km long coincident chargeable-density anomaly west of historic drilling where peak grades reached: ➢ 4.25% Cu ➢ 1270g/t Ag ➢ 2.29g/t Au ➢ 22% Zn ➢ 11.6% Pb ➢ Directly adjacent to mapped thrust fault with several intersecting transverse structures ➢ Thrust fault is interpreted as the southern continuation of the Captains Flat host structure 7 Investor Presentation | May 2026 MULTIPLE HIGH-PRIORITY TARGETS DEFINED FROM GEOPHYSICS STRONGEST TARGETS UNTESTED: ➢ Historic high-grade intercepts are related to a weak chargeable response ➢ Strongest chargeable anomalies remain completely untested by historic drilling ➢ Strongest chargeability anomaly is located beneath the widest part of the surface geochemical anomaly ➢ Chargeable anomalies are located in structurally favorable positions with coincident resistive highs ➢ Anomalies remain open along strike OPEN OPEN OPEN OPEN 8 Investor Presentation | May 2026 BALERION PROSPECT UNTESTED VMS TARGETS DRILLING AIMS TO UNLOCK A POTENTIALLY SIGNIFICANT VMS - STYLE SYSTEM ➢ Coincident chargeability-resistivity anomaly interpreted as potential VMS feeder zone (copper-rich sulphides)1 ➢ Resistivity-low zones may represent thicker sulphide accumulations beyond historical drilling ➢ PVI010 ended in mineralised, strongly altered host rocks 1 – Penner, R. 2023. Trace Element Geochemistry of Volcanogenic Massive Sulfide Deposits in Archean Greenstone Belts: Implications for Metal Endowment and Geodynamic Settings. 9 Investor Presentation | May 2026 BALERION PROSPECT PVI006: 0.7m @ 1270g/t Ag, 7% Pb, 0.3g/t Au from 50.2m PVI006: 0.8m @ 22% Zn, 11.6% Pb, 155g/t Ag, 1.2% Cu & 0.5g/t Au from 152.6m ➢ Completely untested low resistivity anomalies ➢ Anomalies are located directly down-dip of highest-grade mineralisation intersected to date ➢ Interpreted as a potential thicker sulphide accumulation ➢ Notably, the anomaly sits separate from known high-grade intercepts, suggesting potential for additional mineralisation DRILLING STEPS OUT FROM KNOWN HIGH - GRADE HITS TO TEST FOR THICKER SULPHIDE ZONES 10 Investor Presentation | May 2026 NEXT STEPS AT PEAK VIEW PROJECT 16 May: Mobilisation and site preparation for Balerion Prospect drill program Completion of targeted drill program at Balerion Prospect Release of initial assay results from early drilling at Balerion Prospect Additional geophysics and/or drill hole planning Continued work at Undoo/Big Badja and remaining Balerion assays 11 Investor Presentation | May 2026 CONTACT ASX: 10X Brett Grosvenor Executive Chairman, Exultant Mining brett@exultantmining.com.au Sebastian Hind Exploration Manager, Exultant Mining seb@exultantmining.com.au Paul Berson Investor Relations, Corporate Storytime +61 421 647 445 paul@corporatestorytime.com 12 Investor Presentation | May 2026 APPENDIX ASX: 10X 13 Investor Presentation | May 2026 PVD007: 1.85m @ 4.25% Cu, 1.23% Pb, 2.9% Zn & 60g/t Ag from 90.95m ➢ Historic drilling confirms high-grade massive sulphides ➢ Exceptional peak grades: ➢ 4.25% Cu ➢ 1270g/t Ag ➢ 2.29g/t Au ➢ 22% Zn ➢ 11.6% Pb ➢ Classic Captains Flat/Woodlawn-style VHMS system with >1km of mineralized strike ➢ Prospect is open to the north and south ➢ Significantly underexplored — no geophysics or lab-grade surface geochemistry completed since 1995 Balerion Prospect – Drill collar location overlain on Local Geology BALERION PROSPECT PROVEN HIGH - GRADE VMS, UNTESTED BY MODERN EXPLORATION 14 Investor Presentation | May 2026 High - Grade Silver and Open Depth Target PEAK VIEW PROJECT Big Badja Silver Mine (EL8931) Cross section looking NE showing high-grade silver rock chips and open chargeability anomaly (MV/v) beneath the mine 15 Investor Presentation | May 2026 Emerging High - Grade Gold Opportunity ➢ Multiple high-grade gold rock chips returned along entire strike length of vein: ➢ 50.9 g/t Au ➢ 12.6 g/t Au ➢ 8.4 g/t Au ➢ 6.4 g/t Au ➢ 5.4 g/t Au ➢ Mapping has confirmed 360m of strike length ➢ High-grade gold at vein intersections highlights the potential for high-grade plunging shoots PEAK VIEW PROJECT Undoo Creek Gold (EL8931) Undoo Creek prospect - satellite image showing trend of mapped veining and location of rock chip samples 16 Investor Presentation | May 2026 Multiple High - Priority, Undrilled Targets with Immediate Discovery Potential Prospect location map for the Black Hammer Project on Lachlan Orogen geology BLACK HAMMER PROJECT (EL9332, EL9826, ELA7018) ✓ EL9826 “Tuglow” granted ✓ ELA7018 “Swatchfield” provisionally approved ✓ Key land access agreement signed at Watsons Prospect ✓ Sulphides and intense hydrothermal alteration mapped within monzonite and diorite/monzodiorite at Porters Retreat ✓ Mapping has confirmed open, 900m-long quartz vein swarm at AC Prospect ✓ Encouraging initial rock chips returned from the Hughes Copper Prospect and AC Prospect: ✓ 0.322 g/t Au, 7.36 g/t Ag and 4,570 ppm Pb (Hughes) ✓ 0.103 g/t Au (AC Prospect) 17 Investor Presentation | May 2026 DEEP DYKES PROJECT (E29/1154, E29/1155, E29/1156 & E30/590) ➢ Strategic landholding in the prolific Mt Ida–Ularring Greenstone Belt, WA along strike of the 371 Koz Au & 4.38Moz Ag Bottle Creek deposits1 ➢ Regional datasets show no surface sampling across the Deep Dykes tenure ➢ Represents 22 km of highly prospective greenstone belt left untouched for gold ➢ Surrounding areas with similar geology host multiple gold deposits and anomalies ➢ Unique opportunity: systematic sampling here for the first time could unlock a major discovery Tenement map of the Deep Dykes Project A Blank Spot in a Proven Gold Belt 1 - https://announcements.asx.com.au/asxpdf/20200814/pdf/44lj6rj9wqk8r0.pdf