25 Nov

AGM PRESENTATION

25 November 2021 Presented by Andre Labuschagne Annual General Meeting Aeris – Annual General Meeting 2021 Important notice and disclaimer This presentation may contain certain statements and projections provided by or on behalf of Aeris Resources Limited ( Aeris ) with respect to the anticipated future undertakings. These forward- looking statements reflect various assumptions by or on behalf of Aeris. Accordingly, these statements are subject to significant business, economic and competitive uncertainties and contingencies associated with the mining industry which may be beyond the control of Aeris which could cause actual results or trends to differ materially, including but not limited to price and currency fluctuations, geotechnical factors, drilling and production results, development progress, operating results, reserve estimates, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates, environmental risks, ability to meet funding requirements, share price volatility. Accordingly, there can be no assurance that such statements and projections will be realised. Aeris makes no representations as to the accuracy or completeness of any such statement of projections or that any forecasts will be achieved. Additionally, Aeris makes no representation or warranty, express or implied, in relation to, and no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by Aeris or by any of their respective officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any interested party or its advisers. In furnishing this presentation, Aeris undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in Aeris. 2 Aeris – Annual General Meeting 2021 Cracow Tritton Brisbane Corporate Office Cracow Gold Operations Ownership 100% Mine type U/G Processing 600 ktpa CIP FY22F Production 67koz – 71 koz Au FY22F AISC A$1,550/oz-A$1,600/oz Au Reserves (1) 690kt @ 4.1 g/t (90koz) Au Resources (1) 3,900kt @ 3.1 g/t (390koz) Tritton Copper Operations Ownership 100% Mine type U/G Processing 1.8 Mtpa FY22F Production 21kt – 22kt Cu FY22F AISC A$4.10lb – $4.45/lb Cu Cu Reserves (1) 5,300kt @ 1.3% (69kt) Cu Resources (1) 16,600kt @ 1.4% (230kt) Torrens JV (70%) T orrens JV (exploration) Ownership 70% Location 75 km SE Olympic Dam (BHP) Geology Type IOCG Anomalous Zone 120 km 2 (1) See slides 32 – 34 for further detail Our Business C anbelego JV (exploration) Ownership 30% Location 45km SW of Tritton Geology Type Epigenetic structurally controlled Anomalous Zone <2km Canbelego JV (30%) 3 Aeris – Annual General Meeting 2021 0 0.05 0.1 0.15 0.2 0.25 0.3 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Share Price, A$ - 50 100 150 200 250 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Daily Volume, M T udor Court, 1 9.3% Institutions, 3 1.7% Management ( excl. options), 2.7% Other s hareholders 46.3% (1) Based on share price of $0.165 per share on 24 November 2021 (2) As at 30 September 2021 A SX Code AIS Market capitalisation 1 A$370m Enterprise Value 1 A$298m Available Cash 2 A $72m Outstanding Debt Nil Commodity focus Copper and Gold S hareholding structure (Issued Shares) as at 31 October 2021 I ssued shares: c.2,230 million 4 Mgt also hold 2 5.2m Options Market information Constellation discovery H 1 results C onstellation results $ 50m placement C racow Acquisition Aeris – Annual General Meeting 2021 FY21 Highlights 5 Cracow ? Acquisition and integration completed ? Achieved guidance 73,685oz @ AISC of $1,483/oz ? Klondyke/Royal, Roses Pride Mineral Resource updates ? New tailings dam commissioned ? Accelerating exploration Tritton ? Achieved guidance 22,987t Cu @ AISC of A$3.70/lb ? Commenced development at Budgerygar deposit ? Discovered Constellation deposit – drilling continues ? Accelerating exploration Corporate ? Closing cash and receivables $105.9m ? PAG repaid in July, debt free after 8 years ? New $35m bonding facility and $20m working capital facility with ANZ ? Sold Yandan gold project (non-core) ? $50m Placement in June 2021 Aeris – Annual General Meeting 2021 6 FY21 Highlights Transformational year Aeris – Annual General Meeting 2021 Our Sustainability Approach 7 Inaugural FY21 Sustainability Report released on 27 October 2021. Demonstrates Aeris’ commitment to transparency, integrity, and sustainable performance. Aeris seeks to operate in a sustainable manner that creates value now and into the future. The way we conduct our business and the decisions we make every day contribute towards achieving sustainable outcomes. We believe through operating our business in this manner we will achieve our sustainability goals. Aeris Resources 8 Aeris – Annual General Meeting 2021 • Established underground copper mines and 1.8 Mtpa processing plant in Western NSW, Australia - Operating since 2005 with >320 kt Cu produced • Highly endowed region and 2,330km 2 tenement package - Nearby mines include CSA (Glencore plc), Peak and Hera Mines (Aurelia Metals Limited) - >750 kt copper discovered on tenements to date (1) • Currently mining the Tritton and Murrawombie underground mines: - Tritton is a >20 Mt copper dominant deposit (2) - Murrawombie is a >10 Mt copper dominant deposit with good gold grades (2) • Near term mine life extension projects underway or commencing in FY22: - Budgerygar Underground - Avoca Tank Underground - Murrawombie Open Pit cut-back • Recent discovery of Constellation deposit further demonstrates exploration upside 9 (1) 750kt of copper discovered to date on the Tritton tenement package includes historically m ined and current reported Mineral Resources (2) Estimated tonnages of the Tritton and Murrawombie deposits includes historically m ined and current reported Mineral Resources Tritton Copper Operations A consistent producer with upside T ritton production profile (kt) 3 0 30 23 27 27 25 22 21-22 22.5-23.5 FY15A FY16A FY17A FY18A FY19A FY20A FY21A FY22F FY23F Aeris – Annual General Meeting 2021 Tritton Copper Operations – unrivalled project pipeline P roject Producing Developing / Constructing Exploring ? Tritton ? Murrawombie ? Budgerygar ? Avoca Tank ? Murrawombie Open Pit ? Constellation ? Budgery ? Kurrajong ? South Wing 10 N ote: Orange arrows indicated targeted advancements in respective projects in FY22. Aeris – Annual General Meeting 2021 Mine / Deposit FY 2022 2023 2024 2025 2026+ Tritton U/G Murrawombie U/G Tritton - Budgerygar Avoca Tank Murrawombie O/P Constellation Kurrajong Budgery Tritton - South Wing Known deposits – conceptual development plans Produce Develop Drill 1) Development timeline is conceptual only. Final development plans and timelines depend on a number of factors including results of internal feasibility studies, detailed mine design, market forces, approvals, availability of capital, amongst others. 2) Aeris is yet to announce Mineral Resource estimate at the Constellation and Kurrajong deposits and has made certain assumptions regarding these deposits in producing this conceptual plan. Ultimately, final development plans for these projects are s ubject to concluding various processes including undertaking metallurgical testing, permitting, native title and cultural heritage, access arrangements as well as internal mine planning and feasibility processes. This slide does not constitute a P roduction Target for the purposes of the Listing Rules or the JORC Code. Mine Life Extension Projects - Budgerygar • Mineral Resource 2.3Mt @ 1.5%Cu 1 • Access drive completed • Resource drilling underway • Updated Mineral Resource expected Q2 FY22 • First production targeted for Q4 FY22 12 ( 1) See slides 32 – 34 for further detail Aeris – Annual General Meeting 2021 Aeris – Annual General Meeting 2021 Mine Life Extension Projects - Avoca Tank Development • Ore Reserve 700kt @ 2.5% Cu, 0.8g/t Au 1 • Access drive from the Northeast mine (existing portal in Hartman’s pit) - Minimise environmental footprint - Avoid geotechnical risk in weathered rock zone - Target access at thick high-grade zone • Bottom-up mining method • Potential down-dip extensions – Drilling to start in Q3 FY22 13 ( 1) See slides 32 – 34 for further detail Aeris – Annual General Meeting 2021 Mine Life Extension Projects - Avoca Tank Mine Development • Development contract for decline access awarded • Work commenced • First ore targeted Q4, FY23 14 Aeris – Annual General Meeting 2021 Tritton Copper Operations – there’s more copper to be found, $15 million exploration budget for FY22 ? Exploration upside: ? Highly endowed tenement package (2,330km 2 ) – more than 750kt of copper discovered to date (1) ? Proven exploration strategy – Constellation discovery demonstrates it’s working ? 3 most recent discoveries (Avoca Tank, Kurrajong and Constellation) at Tritton Copper Operations all show good copper and gold grades ? New exploration tenements gives “new spaces” to explore – northern half of tenement package largely unexplored ? Regional geology characterised by clusters of deposits – keep looking around known orebodies ? Established processing facility provides strategic regional advantage for new discoveries ? New EL application approved 15 (1) 750kt of copper discovered to date on the Tritton tenement package includes historically m ined and current reported Minerals Resource Aeris – Annual General Meeting 2021 Tritton Copper Operations Greenfields Exploration Activities Constellation • Continue drilling at Constellation across FY22 targeting Maiden Mineral Resource estimate in December • Bedrock conductor identified initially from airborne EM survey and confirmed by ground based EM Avoca Tank • Two drill holes planned to test down dip extensions below Mineral Resource Q3 FY22 Aerial EM Program • 570km 2 Program planned in second half of FY22 • Proven first pass exploration method – discovered Constellation • Cost effective tool for exploring large areas quickly – to be used over northern half of Tritton tenement package Greenfields Drilling Program • First pass drill testing of multiple greenfields targets 16 Aeris – Annual General Meeting 2021 Tritton Copper Operations – Constellation Deposit Spectacular results • 45km North-East from Tritton – within trucking distance of Tritton mill • 63 diamond holes drilled to date – majority intersecting copper sulphide mineralisation • High grade results reported near surface and at depth • Drilling has traced mineralised system 1,000m down plunge (3) • Strike increased from ~200 to ~300m (1)(2) • Intersected Two EM plates traced a further 300m down plunge (1) • Successfully intersected massive sulphides in one plate (3) • Near surface mineralisation provides potential open pit opportunity • Mineralisation remains open down plunge 17 1) Aeris ASX announcement “Constellation Footprint Continues To Grow” dated 10 June 2021 2) Aeris ASX announcement “Constellation update” dated 3 August 2021 3) Aeris ASX announcement “Constellation Drilling Program update” dated 9 November 2021 Aeris – Annual General Meeting 2021 Tritton Copper Operations Constellation Deposit 18 1) Diamond drill hole assay interval reported at a 0.50% Cu cut-off grade with a maximum of 3m dilution. 2) Diamond drill hole assay interval reported at a 1.0% Cu cut-off grade with a maximum of 3m dilution 3) Aeris ASX announcement “Constellation Drilling Program Update” dated 9 November 2021 • Resource definition drilling continues to return high grade copper assays within the deeper primary (sulphide) copper domain: ( 3) • TAKD028 1 – 23.05m @ 2.29% Cu, 0.80g/t Au , 4.1g/t Ag (from 153.45m) including – 5.3m @ 6.99% Cu, 2.14g/t Au, 12.3g/t Ag (from 171.2m) 2 • TAKD029 1 – 10.95m @ 2.73% Cu, 0.82g/t Au , 5.6g/t Ag (from 160.85m) • TAKD024 1 – 29m @ 1.78% Cu, 0.73g/t Au , 4.6g/t Ag (from 281.0m) including – 13.0m @ 2.80% Cu, 1.20g/t Au, 7.6g/t Ag (from 282.5m) 2 • TAKD026 1 – 15.8m @ 1.64% Cu, 0.75g/t Au , 5.9g/t Ag (from 205.0m) including • 4.45m @ 3.91% Cu, 1.32g/t Au, 13.6g/t Ag (from 216.35m) 2 • Drilling has successfully intersected massive sulphides (assays pending) 150m down plunge from previous drilling ( 3) • Mineralisation now traced 1,000m down plunge and remains open (down plunge and along strike) ( 3) Aeris Resources 19 Aeris – Annual General Meeting 2021 Cracow Gold Operations A highly cash flow generative mine that has transformed the Company 20 • A high grade, low cost gold mine in Queensland, Australia with a proven operating history • FY21 production of 73,685koz high margin gold ounces at AISC of A$1,483oz • Upgraded guidance for FY22 and added FY23 Guidance: (1),(2) • FY22 67koz - 71koz @ AISC between $1,550/oz and 1,600/oz • FY23 60koz - 65koz C racow production profile (koz) 9 3 91 89 90 81 88 73 67-71 60-65 FY15A FY16A FY17A FY18A FY19A FY20A FY21A FY22F FY23F ( 1) Aeris announcement “Quarterly Activities report – June 2021” dated 30 July 2021 (2) Aeris announcement “Extensions to Cracow Mine Life” dated 3 August 2021 Aeris – Annual General Meeting 2021 Cracow Gold Operations - Accelerating Exploration Near Mine ? Push mill to 650kt ? Focus on increasing UG mine life ? Review old areas and cut-off grades ? Multiple targets to be tested ? 3 drill rigs operating in FY22 ? $9m budget for FY22 New Spaces ? Prioritising targets ? Drilling underway at Ballymore and Boughyard ? Magnetic survey done for Boughyard ? $4m budget for FY22 Resource updates ? Roses Pride +260% (1) ? Klondyke Royal +324% (2) ? Drilling underway at Golden Plateau ? Ore Reserves replaced and Mineral Resources increased (3) 21 ( 1) Aeris announcement “Roses Pride Mineral Resource Update” dated 6 January 2021 (2) Aeris announcement “Significant Increase to Klondyke Royal Mineral Resource” dated 22 April 2021 (3) Aeris announcement “Mineral Resource and Ore Reserve Estimate June 2021 Cracow” dated 3 August 2021. Aeris – Annual General Meeting 2021 Cracow Gold Operations Mining and exploration pipeline 22 N ote: Orange arrows indicated targeted advancements in respective projects in FY22. Aeris – Annual General Meeting 2021 Cracow Gold Operations Exploration of near mine target areas 23 • Three rigs drilling underground • Increased FY22 budget to A$9M • Multiple untested targets Aeris – Annual General Meeting 2021 24 Prospectivity review completed. Revision of priority targets. ? Cracow South-West ? Identified as a potential analogue of the Western field mineralised system (~2Moz) (1) • Structures with potential to host mineralisation identified from 2D seismic surveys and intersected from limited drilling completed in the area • Within 5km of current mine infrastructure ? Ballymore • Prospective structure along southern margin of the current mining footprint • Limited historical drilling returned encouraging results • Evidence of epithermal vein textures / anomalous pathfinder elements • Drilling scheduled in FY22 from current underground workings ? Boughyard • Large (~3.0 km x 1.5 km) alteration system open to south and west • Regional analogue to the alteration system spatially related to the Cracow goldfield • Geological understanding and drill targeting has been refined following completion of a drone magnetic survey (December 2020) (1) 2Moz of gold discovered to date on the Cracow tenement package includes historically m ined and current reported Minerals Resource Cracow Gold Operations Exploring in new spaces – looking for the next big discovery Aeris Resources 25 Growth Aeris – Annual General Meeting 2021 M&A remains a focus Commodities ? Gold and Copper Location ? Australia ? Offshore – Risk reward Project stage ? Producing operation with established infrastructure ? Development ready ? Bolt-on exploration Size and potential ? Ongoing opportunity to upgrade portfolio ? Exploration upside ? Cash generative 26 Aeris Resources M&A strategy ? Pursue strategic M&A opportunities that add value, complement existing portfolio and transform Aeris into a mid- sized, mining company ? Leverage Aeris’ existing operational expertise to create value ? Key focus on copper and gold opportunities Aeris Resources Summary 27 Aeris – Annual General Meeting 2021 Summary 28 FY21 ? Transformational year ? Operations deliver against expectation ? Significant exploration success ? $50m placement ? Debt Free ? Ongoing focus on M&A FY22 Tritton guidance 21-22kt Cu @ AISC between $4.10/lb and $4.45/lb ? Transformation from survival to growth ? Developing 3 life extension projects and brining others into the pipeline ? Accelerating exploration $15m Cracow guidance 67-71koz @ AISC between $1,550/oz and $1,600/oz ? $13 million allocated to exploration ? Tailings dam commissioned mid August 2021 Ongoing focus on M&A Aeris – Annual General Meeting 2021 What makes Aeris different? Proven team with a consistent track record Diversified, strong free cash generation Favourable gold / copper price exposure Financially robust, rapidly deleveraging A platform for growth Further value to unlock We Are Aeris 29 Aeris Resources 30 Thank you Aeris Resources 31 Appendix A: Mineral Resource and Ore Reserve statements Aeris – Annual General Meeting 2021 Tritton – Mineral Resource - June 2021 Tritton Tenement Package 32 Notes: (1) Mineral Resource cut-off grades, 0.6% Cu Tritton, 0.6% Cu Murrawombie, 0.6% Cu Avoca Tank, 0.8% Cu Budgerygar, 0.5% Cu Budgery (2) Gold and silver grades have been reported for the FY2021 Mineral Resource Estimates at Tritton, Murrawombie, Avoca Tank, Budgerygar and Budgery (gold only). The Mineral Resource Estimate for Budgery does not include silver estimates. Consequently, silver grades and metal figures are omitted from the Total Reported Figures. (3) Discrepancy in summation may occur due to rounding. T onnes (kt) Cu (%) Cu (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Tonnes (kt) Cu (%) Cu (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Measured 3,500 1 .3 4 5 0 .1 1 1 3 .6 4 00 M easured - - - - - - - I ndicated 840 1 .2 1 0 0 .1 2 2 .3 6 3 I ndicated - - - - - - - T otal M + I 4,400 1 .3 5 5 0 .1 1 3 3 .3 4 70 T otal M + I - - - - - - - I nferred 2,400 1 .1 2 7 0 .1 1 1 4 .2 3 30 I nferred 2,300 1 .5 3 4 0 .2 1 5 5 .2 3 80 T OTAL 6,800 1 .2 8 2 0 .1 2 4 3 .6 8 00 T OTAL 2,300 1 .5 3 4 0 .2 1 5 5 .2 3 80 M easured - - - - - - - Measured - - - - - - - I ndicated 70 2 .0 1 0 .3 1 11.7 2 7 I ndicated 1,700 1 .1 1 9 0 .1 7 - - T otal M + I 70 2 .0 1 0 .3 1 11.7 2 7 T otal M + I 1,700 1 .1 1 9 0 .1 7 - - I nferred - - - - - - - Inferred 280 0 .9 3 0 .1 1 - - T OTAL 70 2 .0 1 0 .3 1 11.7 2 7 T OTAL 2,000 1 .1 2 2 0 .1 8 - - M easured - - - - - - - Measured 27 1 .3 0 - - - - I ndicated 3,900 1 .5 5 7 0 .3 3 4 4 .6 5 70 I ndicated - - - - - - - T otal M + I 3,900 1 .5 5 7 0 .3 3 4 4 .6 5 70 T otal M + I 27 1 .3 0 - - - - I nferred 610 1 .4 9 0 .3 6 4 .2 8 2 I nferred - - - - - - - T OTAL 4,500 1 .4 6 5 0 .3 4 0 4 .5 6 60 T OTAL 27 1 .3 0 - - - - M easured - - - - - - - Measured 3,600 1 .3 4 5 0 .1 1 1 3 .5 4 00 I ndicated 770 2 .9 2 3 0 .9 2 1 1 5.6 3 90 I ndicated 7,300 1 .5 1 10 0 .3 6 5 4 .5 1,050 T otal M + I 770 2 .9 2 3 0 .9 2 1 1 5.6 3 90 T otal M + I 10,900 1 .4 1 60 0 .2 7 6 4 .2 1,460 I nferred 130 1 .0 1 0 .2 1 3 .2 1 3 I nferred 5,700 1 .3 7 3 0 .2 3 3 4 .4 8 10 T OTAL 900 2 .6 2 4 0 .8 2 2 1 3.8 4 00 T OTAL 16,600 1 .4 2 30 0 .2 1 10 4 .2 2,260 M urrawombie Avoca Tank June 2021 Tritton Underground Tritton Pillars (Recoverable) June 2021 Budgerygar Budgery Stockpiles Total Aeris – Annual General Meeting 2021 Tritton – Ore Reserve - 2021 Tritton Tenement Package 33 Notes: (1) Discrepancies in summation may occur due to rounding. (2) Cut-off grades vary between deposits and are selected based on economic analysis. They are not a break-even cut-off. (3) Mineral Resources are quoted as INCLUSIVE of the Ore Reserves Estimate. (4) All Mineral Resource that is available for conversion to Ore Reserve has been evaluated and is included in the Ore Reserve estimate where it meets economic and other criteria. Ore Reserve annual update as announced on ASX 3 August 2021. T onnes (kt) Cu (%) Cu (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Proved 1,800 1.2 21 0.1 4 3.0 170 Probable 0 0.0 0 0.0 0 0.0 0 TOTAL 1,800 1.2 21 0.1 4 3.0 170 Proved 0 0.0 0.0 0.0 0.0 0.0 0.0 Probable 1,100 1.4 15 0.3 10 0.0 157 TOTAL 1,100 1.4 15 0.3 10 0.0 157 Proved 0 0.0 0 0.0 0 0.0 0 Probable 1,600 0.9 14 0.1 8 2.8 150 TOTAL 1,600 0.9 14 0.1 8 2.8 150 Proved 0 0.0 0 0.0 0 Probable 700 2.5 18 0.8 18 TOTAL 700 2.5 18 0.8 18 Proved 27 1.3 0.4 Probable 0 0.0 0 TOTAL 27 1.3 0.4 Proved 1,800 1.2 22 Probable 3,400 1.4 47 TOTAL 5,300 1.3 69 Total Murrawombie Open Pit Avoca Tank Stockpiles June 2021 Tritton Underground Murrawombie Underground Aeris – Annual General Meeting 2021 Cracow – Mineral Resource and Ore Reserve 34 Notes: (1) Mineral Resource cut-off grade 1.5g/t for all Cracow deposits (2) Discrepancy in summation may occur due to rounding. Notes: (1) Discrepancy in summation may occur due to rounding. (2) Cut-off grades vary between deposits and are selected based on economic analysis. They are not a break- even cut-off. (3) Mineral Resources are quoted as INCLUSIVE of the Ore Reserves Estimate. (4) All Mineral Resource that is available for conversion to Ore Reserve has been evaluated and is included in the Ore Reserve estimate where it meets economic and other criteria. Ore Reserve annual update as announced on ASX 3 August 2021. 2021 Mineral Resource Cracow Tenement Package 2021 Ore Reserve Cracow Tenement Package Tonnes (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Tonnes (kt) Au (g/t) Au (koz) Measured 200 9.1 59 5.7 37 Proved 172 4.9 27 Indicated 1,400 3.7 170 3.1 140 Probable 519 3.8 63 Total M + I 1,600 4.3 230 3.4 180 TOTAL 690 4.1 90 Inferred 2,300 2.3 170 1.5 110 TOTAL 3,900 3.1 390 2.3 290 June 2021 Cracow June 2021 CRACOW Aeris – Annual General Meeting 2021 Competent Persons statement 35 Competent Person’s Statement – Mineral Resource Mr Cox confirms that he is the Competent Person for all the Mineral Resource estimates summarised in this Report and he has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Cox is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style of mineralisation and type of deposit described in the Report and to the activity for which he is accepting responsibility. Mr Cox is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No. 220544). Mr Cox has reviewed the Report to which this Consent Statement applies and consents to the inclusion in the Report of the matters based on his information in the form and context in which it appears. Mr Cox is a full time employee of Aeris Resources Limited. Mr Cox has disclosed to the reporting company the full nature of the relationship between himself and the company, including any issue that could be perceived by investors as a conflict of interest. Specifically, Mr Cox is entitled to 1,836,725 Performance Rights issued under the Company’s equity incentive plan (details of which were contained in the Notice of Annual General Meeting dated 20 October 2020). The vesting of these Performance Rights is subject to certain performance and employment criteria being met. Competent Person’s Statement – Ore Reserve Mr Ian Sheppard confirms that he is the Competent Person for all the Ore Reserve estimates summarised in this Report and Mr Sheppard has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Sheppard is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style of mineralisation and type of deposit described in the Report and to the activity for which he is accepting responsibility. Mr Sheppard is a Member of The Australasian Institute of Mining and Metallurgy, No. 105998. Mr Sheppard has reviewed the Report to which this Consent Statement applies and consents to the inclusion in the Report of the matters based on his information in the form and context in which it appears. Mr Sheppard is a full time employee of Aeris Resources Limited. Mr Sheppard has disclosed to the reporting company the full nature of the relationship between himself and the company, including any issue that could be perceived by investors as a conflict of interest. Specifically, Mr Sheppard holds 12,118,137 shares in Aeris Resources Limited and is also entitled to 5,102,015 Performance Rights issued under the Company’s equity incentive plan (details of which were contained in the Notice of Annual General Meeting dated 20 October 2020). The vesting of these Performance Rights is subject to certain performance and employment criteria being met.

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