HAWK RESOURCES LIMITED. — Investor Presentation 2026

Mar 9, 2026

ASX: HWK

Investor Presentation | March 2026

| Investor Presentation

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Disclaimer

This presentation has been prepared by Hawk Resources Limited ABN 55 165 079 210 (ASX:HWK) (Hawk or the Company) and contains information about Hawk current at the date of this presentation. The presentation is in summary form, has not been independently verified and does not purport to be all inclusive or complete. The Company is not responsible for providing updated information and assumes no responsibility to do so. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction and may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. Cooling off rights do not apply to the acquisition of the Company securities. The Company assumes that the recipient is capable of making its own independent assessment, without reliance on this document, of the information and any potential investment and will conduct its own investigation.

This presentation does not constitute financial product or investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Hawk, its related bodies corporate, and each of their officers, employees, agents and advisers expressly disclaim, all liabilities (however caused, including negligence) in respect of, make no representation or warranty, express or implied, as to the currency, accuracy, reliability or

completeness of any information, statements, opinions, estimates, forward-looking statements. Any forward-looking statements in this forecasts or other representations contained in this presentation. No presentation speak only at the date of issue of this presentation. responsibility for any errors or omissions from this presentation arising Subject to any continuing obligations under applicable law and the out of negligence or otherwise is accepted. ASX Listing Rules, Hawk does not undertake any obligation to update or revise any information or any of the forward-looking statements in Certain statistical and other information included in this presentation this presentation or any changes in events, conditions or is sourced from publicly available third party sources and has not circumstances on which any such forward-looking statement is been independently verified. based.

References to Previous ASX Announcements – The information in this presentation that relates to historical exploration results were first reported by the Company in accordance with listing rule 5.7 on 28 June 2017, 21 August 2017, 12 September 2017, 28 September 2017, 30 October 2017, 15 December 2017, 17 January 2018, 5 March 2018, 29 March 2018, 12 March 2019, 18 November 2019, 25 March 2020, 16 April, 2020, 20 May 2020, 19 August 2020, 28 August 2020, 22 September 2020, 22 February 2021, 8 March 2021, 11 March 2021, 11 May 2021, 9 June 2021, 11 June 2021, 24 August 2021, 30 September 2021, 18 November 2021, 30 December 2021, 25 February 2022, 22 March 2022, 5 April 2022, 11 May 2022, 25 May 2022, 6 June 2022, 27 June 2022, 3 August 2022, 28 September, 2022, 30 September 2022, 2 November 2022, 14 December 2022, 30 December 2022, 14 February 2023, 20 September 2023, 3 October 2023, 26 October 2023, 13 November 2023, 5 December 2023, 23 January 2024, 22 February 2024, 13 March 2024, 8 April 2024, 29 April 2024, 30 May 2024. 18 June 2024, 25 June 2024, 3 July 2024, 8 July 2024, 23 July 2024, 29 July 2024, 29 August 2024, 19 September 2024, 30 September 2024, 7 October 2024, 18 November 2024, 13 December 2024, 9 January 2025, 9 April 2025, 28 April 2025, 2 July 2025, 19 September 2025. Hawk confirms it is not aware of any new information or data that materially affects the information included in the original market announcements.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and, in the case of estimates of mineral resources or ore reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company stresses that the pre-Hawk assay data from historical exploration were not subject to modern quality assurance and quality control practices and hence are not JORC compliant. All historical assays for soils, rocks and drill holes are regarded as indicative of exploration potential only.

In relation to the disclosure of pXRF and visual results, the Company cautions that estimates of mineral abundance from pXRF or visual results should not be considered a proxy for quantitative analysis of a laboratory assay result. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assay results are required to determine the actual widths and grade of the mineralisation. Drill core from this program is being sampled for laboratory analysis at a commercial laboratory and results will be reported as soon as they become available.

Forward-Looking Statements – This presentation may include All figures in this document are in Australian dollars (AUD) unless forward-looking statements and opinion. Forward-looking stated otherwise. An investment in Hawk should be considered statements, opinion and estimates are only predictions and are speculative in nature. subject to risks, uncertainties and assumptions which are outside the control of Hawk. This presentation has been approved for release by the Board of Hawk Resources Limited.

Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on

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H A W K R E S O U R C E S

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Near-Term Catalysts

• Drilling underway at Cactus Copper Project in Utah, USA for district sale copper deposits

• At Olympus scandium in Western Australia, Native Title Agreement negotiations are advancing - exploration

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Critical Metal Optionality

Cactus and Olympus provide exposure to copper and scandium critical minerals in a supply constrained market

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Locations & Leadership

• Exploring in Tier-1 jurisdictions

• Experienced board led by Tom Eadie (Southern Cross Gold & Syrah Resources founding Chair) and Scott Caithness (40 years exploration, ex-Rio Tinto)

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H A W K R E S O U R C E S

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Tier 1 Mining Jurisdictions

Global Project Portfolio

Strategically positioned across three continents in politically stable, mining-friendly jurisdictions with established infrastructure and clear regulatory frameworks

Utah, Copper

Cactus Copper - historic 2.0% Cu, 0.33g/t Au production; residual breccia pipe mineralisation; multiple breccia pipe & intrusive targets – drilling in progress.

Western Australia, Scandium

Brazil, Lithium

Portfolio of lithium projects in Minas Gerais and Bahia providing future growth pipeline.

Olympus Scandium - strategic critical mineral exposure; 7 x 4km +500ppm Sc soil anomaly; supporting RAB intersections – Native Title negotiations advancing

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H A W K R E S O U R C E S

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Utah Copper

Cactus Co er Pro ect: Lar e Underex lored Co er S stem pp j g , p pp y Historic Production & District Scale Potential

• Tier 1 mining jurisdiction: Utah has world class copper-gold mines at Bingham Canyon and Tintic.

• Excellent infrastructure: Located 370km SW from Salt Lake City; sealed road, power, rail and Milford copper mine nearby

• Historic production: Cactus Mine delivered 1.3 Mt @ 2.0% Cu, 0.33 g/t Au (1905–1920).

• Geology: Oligocene Cactus Stock with later intrusives and breccia-hosted Cu–Au system.

• District upside: multiple large geophysical + geochemical targets – Copperopolis, CZ-1, Northern Zone, New Years West & Cactus Corridor.

Refer HWK ASX announcements dated 19 September 2025, 22 February 2024

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Cactus Project location map

Cautionary Statement: The Company stresses that pre-Hawk assay data from historical drill holes and rock sampling at Cactus was not subject to modern quality assurance and quality control practices and hence could not be used in a JORC 2012 compliant resource estimate. These assays and drill intersections are regarded as indicative of Exploration Potential only. H A W K R E S O U R C E S

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Utah Copper

Cactus Co er Pro ect: Past Results Hi hli htin Potential pp j g g g

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Comet-Cactus-New Years High Grade Drill Intersections
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High Grade Copper & Gold

Cactus post mining copper intersections:

• 4.9m @ 6.7% Cu within 43.6m @ 1.7% Cu

• 12.2m @ 3.3% Cu within 22.9m @ 2.1% Cu

• 8.0m @ 3.1% Cu, 0.96g/t Au within 32m @ 1.24% Cu, 0.3g/t Au

• 16.5m @ 3.0% Cu, within 41m @ 1.9% Cu, 0.6g/t Au 74m @ 1.1% Cu, 0.3g/t Au

New Years shallow oxide copper confirmed:

• 26m @ 1.3% Cu incl. 8m @ 2.8% & 6m @ 1.5%

• 30m @ 0.78% Cu incl. 8m @ 1.3% & 4m @ 1.7%

• Assays to 4.6% Cu over 2m

Comet shallow gold intersections (2004):

• 25.9m @ 1.53 g/t Au

• 16.8m @ 1.15 g/t Au

• 24.4m @ 1.0 g/t Au ; assays up to 6.89 g/t Au

• Surface traverses: ~32m @ 2.15 g/t Au and ~16.7m @ 2.6 g/t Au; max assay 11.15g/t Au ; >20 samples >1 g/t Au

Refer HWK ASX announcements dated 2 July 2025, 28 April 2025, 9 April 2025, 5 July 2023, 11 March 2021, 22 September 2020, 29 March 2018, 17 January 2018, 15 December 2017, 30 October 2017, 21 August 2017, 15 June 2017, 8 June 2017

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H A W K R E S O U R C E S

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Utah Copper

Cactus Co er Pro ect: Modern Work Unlockin Le ac Co er pp j g g y pp

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NW
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Data Re-Modelled & High-Grade Oxide Confirmed SE – Drilling in Progress[1]

• High-grade Cactus zone - open: 3D Leapfrog modelling of legacy holes indicates residual copper-gold mineralisation which is open at depth and to the northeast

• Near-surface mineralisation: Cactus Corridor historical holes indicate shallow copper and gold mineralisation and 2024 drilling at New Years has confirmed shallow oxide copper mineralisation

• Drilling underway to test six new targets with potential for large tonnage deposits

• Cactus and Wasp holes intersected narrow zones of minor copper mineralisation

• Copperopolis hole in progress

• Near surface drilling along Cactus Corridor to follow

• Refer HWK ASX announcements dated 18 February 2026, 14 January 2026, 19 September 2025, 2 July 2025, 9 January 2025, 13 December 2024, 18 November 2024, 25 June 2024, 13 March 2024, 22 February 2024

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H A W K R E S O U R C E S

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Cactus Co er Pro ect: Cactus Corridor Near Surface Co er & Gold pp j pp

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High Grade Copper & Gold Drill Intersections within 50m of Surface

550m mineralised corridor which is open

Cactus near surface copper intersections:

• 10.7m @ 3.6% Cu within 38.1m @ 1.42% Cu

• 12.2m @ 2.8% Cu within 25.9m @ 1.62% Cu

• 12.2m @ 2.64% Cu

• 16.7m @ 2.3% Cu within 22.9m @ 1.84% Cu

Comet shallow gold intersections:

• 25.9m @ 1.53 g/t Au

• 15.2m @ 1.15 g/t Au

• 24.4m @ 1.0 g/t Au ; assays up to 6.89 g/t Au

• Surface rock sample traverses : ~32m @ 2.15 g/t Au and ~16.7m @ 2.6 g/t Au; max assay 11.15g/t Au ; >20 samples >1 g/t Au

Shallow 10 hole (~720m) drilling programme in preparation

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H A W K R E S O U R C E S

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Utah Copper

Cactus Co er Pro ect: Priorit Tar ets & U comin Drillin pp j y g p g g

Five Priority Targets for Q4’25 Drilling

Target	Concept	Planned Work
	Large intense
Copperopolis	chargeability anomaly + Cu in soils + historic hole	1 hole; ~1,000m
	Cu intersection
CZ-1	“Cactus look-alike”; dual resistivity lows + magnetic low	2 holes; ~550m
Northern Zone	Chargeability anomaly at structural intersection	3 holes; ~150m
New Years West	Oxide + sulphide along E-W structure with magnetic low	3 holes; ~150m
Cactus Corridor	Near surface oxide and sulphide Cu	12 holes; ~720m

Strategy: Target both near-surface oxide (fast-trackable) and deeper sulphide deposits.

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Copperopolis target. Very large intense chargeability anomaly below soils grading up to 0.1% copper and hole DDH 520-2 on margin which intersected 30m grading 0.2% copper in 1974.

Refer HWK ASX announcements dated 18 February 2026, 19 September 2025, 9 January 2025

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H A W K R E S O U R C E S

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WA Scandium

Ol m us Scandium Pro ect: Rare Scandium O ortunit in WA y p j pp y

Newly-Acquired Early-Stage Entry into a Strategic Critical Mineral

• Olympus is a large-scale scandium project in WA’s West Musgrave region with granted exploration licences and Native Title Agreement negotiations in progress

• Large-scale pXRF soil/lag anomaly spanning a surface area of ~7 km × 4 km with grades exceeding 500 ppm Sc with shallow RAB drilling intersections confirming potential

• One of the few potentially scalable scandium projects globally - well placed to benefit from a market with no primary mines and rising demand from aerospace, EVs and 5G/6G networks

• Option secures early-stage entry into a strategic critical mineral project with potential for rapid value uplift

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Olympus Scandium Project location in the West Musgrave region, WA.

Refer HWK ASX announcements dated 18 February 2026, 17 October 2025

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WA Scandium

Scandium: One of the Most Su l -Constrained Critical Minerals Globall pp y y

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Strategic Importance

Scandium is a strategic and critical rare earth mineral, unique because it has no primary mines globally (US Geological Survey). Current supply relies solely on byproduct extraction from rare earth operations (China, Russia) or processing stockpiles.

Scandium’s importance and supply vulnerability have led to its formal designation as a critical mineral by the US, EU, and Australian governments.

Scandium: High-Value Applications Driving Demand

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Lightweight Aluminium Alloys

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Solid Oxide Fuel Cells

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5G & 6G Telecommunications

Scandium strengthens aluminium whilst providing exceptional strengthto-weight ratios – vital for automotive, aerospace and defence (lighter parts, lower fuel use and extended component life cycles).

Scandium-stabilised zirconia electrolytes enable next-gen fuel cells to achieve 60–70% electrical efficiency, positioning scandium as key to decarbonisation efforts.

Scandium components improve signal quality and energy efficiency in 5G today. Global 5G rollout and emerging 6G development drive substantial long-term demand.

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H A W K R E S O U R C E S

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WA Scandium

Ol m us Scandium Pro ect: Scale & Grade Potential y p j

Large Anomaly With High-Grade Scandium Hits

• Large footprint : Coherent +500ppm Sc signature over ~7 km × 4 km surface area with multiple +1,000 ppm Sc zones and supportive shallow RAB.

• Anomalism is supported by shallow RAB drilling results, including a standout intersections of 11m @ 934ppm Sc, 5m @ 948ppm Sc, 7m @ 700ppm Sc.

• Undervalued dataset : Historical programs did not target scandium; Hawk can re-run the data the right way with modern QA/QC and targeted verification.

• Drill sections suggest that the Sc mineralised zone is approximately 800m wide and ranges from 5- 11m in thickness with the limited RAB drilling carried out on three 1.6km spaced north-south lines plus an additional line approximately 4.5km to the west.

• Benchmark scandium project - Sunrise Energy Metals (ASX: SRL) Syeston project in NSW

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Olympus Scandium Anomaly: Redstone Resources (2007–08) mapped a magnetic gabbroic complex with soil geochemistry and RAB drilling, outlining a 7×4 km scandium anomaly.

Technical reference: Chasse et al; Scandium Speciation in a World-Class Lateritic Deposit; 2017; Geochemicalperspectivesletters

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H A W K R E S O U R C E S

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WA Scandium

Ol m us: 800m Zones of Anomalous Sc in RAB Sections y p

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800m wide zones (open) of anomalous Sc in RAB traverses on lines 4.4km apart

• Traverse A-B on margin of scandium soil anomaly and has pXRF sample assays up to 2037ppm Sc over 1m intervals and intersections of up to 5m @ 948ppm Sc from surface

• Traverse E-F passes through a spot +700ppm Sc soil anomaly and has pXRF sample assays up to 1,613ppm Sc over a 2m interval within an intersection of 11m @ 934ppm Sc from surface

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H A W K R E S O U R C E S

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12 Month Value Delivery Roadmap

Upcoming Catalysts

Q1 2026

Cactus Copper Drilling Programme to test high priority targets

Olympus Scandium Native Title Agreement negotiations

Q3 2026

Cactus Copper Followup Additional drilling based on results

Olympus Detailed Soils & Drilling Targeted program to define anomaly extent and depth potential

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Q1 2026 Q2 2026 Q3 2026 Q4 2026 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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Q2 2026 Cactus Copper Initial Results First assay results from drilling Olympus Confirmatory Work Soil sampling & lab assays to verify pXRF results

Q4 2026 into 2027 Cactus Copper Resource Drilling Potential maiden JORC resource Olympus Scandium Resource Drilling Potential maiden JORC resource

Note : Timeline is indicative only, results dependent and subject to change

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H A W K R E S O U R C E S

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ASX: HWK

Cor orate Sna shot p p

Capital Structure

Share Price Performance (3 months)

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Share Price1	A$0.04
Shares on Issue2	524.43M
Market Cap	A$21.5M
Cash3	A$4.56M
Enterprise Value4	A$16.44M

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Dec 2025
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0.05
0.04
0.03
0.02
Jan 2026 Feb 2026 Mar 2026
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Shareholder Summary[5]

	Shares Held	% Holding
Top20	237.0M	45.0
Board and Management	16.0M	3.0
Other Shareholders	271.0M	52.0

Source: ASX

1. Share price as at 9 March 2026.

2. Shares post T2 capital raise announced on 28 November 2025.

3. At 31 Dec 2025

4. No debt.

5. Holdings post T2 capital raise announced on 28 November 2025.

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H A W K R E S O U R C E S

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Leadership Team

Proven Track Record in Resource Discovery & Development

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Tom Eadie

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Scott Caithness

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Peter Williams

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Justin Mouchacca

Non-Executive Chairman

Managing Director

Non-Executive Director

Company Secretary

Decades of mining experience. Chair of Southern Cross Gold and founder of Syrah Resources, providing invaluable strategic guidance.

40 years of exploration experience across multiple commodities. Led teams responsible for significant discoveries at Rio Tinto and Vedanta where he was Director Exploration.

Highly experienced exploration geophysicist with a track record of significant discoveries, including with WMC Resources and Independence Group. Director of Benz Mining and African Gold.

Chartered Accountant and Fellow of the Governance Institute with over 18 years experience in Company Secretarial and accounting requirements with listed and unlisted companies.

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Near-Term Copper Catalysts

Near-term value accretion through systematic drilling at Cactus, with clear pathways to resource definition and potential development studies.

Strategic Scandium Optionality

The Olympus scandium project represents a rare opportunity to establish primary production in a market dominated by China and by-product supply.

Tier-1 Locations & Leadership

Experienced board led by Tom Eadie (Southern Cross Gold & Syrah Resources) and Scott Caithness (40 years exploration, ex-Rio Tinto) operating exclusively in Tier-1 mining jurisdictions.

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H A W K R E S O U R C E S

E: scott@hawkresources.com.au