Nova Minerals Ltd — AGM Information 2025

Nov 9, 2025

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Developing a tier one gold asset and securing U.S. domestic antimony supply

AGM Presentation November 2025 NASDAQ: NVA | ASX: NVA www.novaminerals.com.au

Important Notices and Disclaimers

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General

This presentation has been prepared by Nova Minerals Ltd (ACN 006 690 348) (Company) based on information from its own- and third-party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this presentation. Except for any liability that cannot be excluded by law, the Company and its related bodies corporate, directors, employees, servants, advisers and agents disclaim and accept no responsibility or liability for any expenses, losses, damages or costs incurred by you relating in any way to this presentation including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused, lack of accuracy, completeness, currency or reliability or you or any other person placing any reliance on this presentation, its accuracy, completeness, currency or reliability. This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for information purposes and is not an invitation nor offer of shares or recommendation for subscription, purchase or sale in any jurisdiction. This presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. Each recipient must make its own independent assessment of the Company before acquiring any shares in the Company (Shares).

Not Investment Advice

Each recipient of the presentation should make its own enquiries and investigations regarding all information in this presentation including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of the Company and the impact that different future outcomes might have on the Company. Information in this presentation is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking account of any person’s individual investment objectives, financial situation or particular needs. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own investment objectives, financial situation and needs and seek legal, accounting and taxation advice appropriate to their jurisdiction. The Company is not licensed to provide financial product advice in respect of its securities.

Forward Looking Statements

This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on the Company’s beliefs, opinions and estimates of the Company as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate.

Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, among others, the actual market price of commodities, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forwardlooking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur.

JORC Code

It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code). Investors outside Australia should note that while ore reserve and mineral resource estimates of the Company in this document comply with the JORC Code (such JORC Code-compliant ore reserves and mineral resources being "Ore Reserves" and "Mineral Resources" respectively), unless stated otherwise, they may not comply with the relevant guidelines in other countries and, in particular, may not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators (the "Canadian NI 43-101 Standards"); or (ii) Item 1300 of Regulation S-K, which governs disclosures of mineral reserves in registration statements filed with the SEC. Information contained in this document describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws.

Compliance Statements

This Presentation contains references to Mineral Resource Estimates extracted from the Company’s ASX announcements dated 11 April 2023, titled “Estelle Global Gold MRE Increases to 9.9 Moz Au”, and dated 16 April 2024, titled “Mineral Resource Estimate for US Listing” (refer Appendix 1). References in this presentation to exploration results have been extracted from the Company’s ASX announcements as noted on the relevant pages of this presentation. Nova confirms that it is not aware of any new information or data that materially affects the information included in the original announcements and, in the case of estimates of Mineral Resources, 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 confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

Investment Risk

There are a number of risks specific to the Company and of a general nature which may affect the future operating and financial performance of the Company and the value of an investment in the Company, including and not limited to the Company's capital requirements, the potential for shareholders to be diluted, risks associated with the reporting of resources estimates, budget risks, risks associated with the COVID-19 pandemic and operational risk. An investment in Shares is subject to known and unknown risks, some of which are beyond the control of the Company. The Company does not guarantee any particular rate of return or the performance of the Company.

Financial Data

All dollar values are in United States dollars (US$ or USD) unless otherwise stated. The information contained in this Presentation may not necessarily be in statutory format. Amounts, totals and change percentages are calculated on whole numbers and not the rounded amounts presented.

This announcement has been authorized for release by the executive directors.

Investment Highlights

Rapidly advancing world class U.S. gold and antimony assets towards production

District Scale 514km[2] with Estelle Project:

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Team to deliver
Infrastructure solutions
Gold & antimony near all time highs
ALASKA
U.S. Dept of War award funding Tintina Gold Province
>220Moz Au
Estelle Project
Gold & Antimony
Presidential executive orders
Mining friendly Alaska
All on State lands
Streamlined permitting
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• Antimony: Fast-tracking production to develop the U.S.’s first fully domestic integrated antimony supply chain in decades › 1 of 9 globally, and 1 of 2 in the US, with near term production potential

• › US$43.4M U.S. Dept of War award support

• › Onshoring antimony production

• › Targeting production in 2026/27

Gold: Rapidly advancing one of the world’s largest undeveloped gold deposits, aiming to become a tier-one, global gold producer

• › 9.9Moz JORC[1 ] & 5.2Moz S-K1300 resource[1]

• › High-grade & bulk tonnage

• › Thick ore zones from surface

• › Open pit, bulk-mineable, low-strip ratio deposits

• › Feasibility studies underway

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Estelle Project - Gold and Antimony in Alaska District scale 514km[2] with gold and antimony assets within the one U.S. project

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Antimony-Gold prospect
Priority Antimony-Gold area
Gold prospect
Priority Gold area
Stibium
Korbel
RPM
Styx
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ASX Announcements: Gold: 11 October 2021 & 20 November 2023 Antimony: 10 October 2023, 20 November & 5 December 2024

1 Economic pit constrained resource compliant to JORC and S-K 1300 standards. Refer to Appendix 1

Estelle Project - Precious and Strategic Minerals

Macro-economic drivers - Right place, right time, with the right commodities

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Gold – Precious mineral near all time highs

• › Central bank purchases

• Antimony – Strategic with no U.S. supply › Strategically important critical mineral

• › Inflation hedge

• › Safe-haven demand

• › Gold is money

• › China’s export restrictions

• › U.S. dependency for defense and renewable energy

Gold Spot Price ~US$4,100 oz

Antimony Spot Price ~US$63,250 mt

*Source: Reuters

Estelle’s Antimon Assets y

Fast-tracking production to develop the U.S.’s first fully domestic integrated antimony supply chain

Estelle’s Antimony Assets Identified as 1 of 9 globally, and 1 of 2 in the U.S. with near term production potential

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Antimony-Gold prospect Priority Antimony-Gold area

Stibium

Shoeshine Train T5 Trumpet Styx

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Stoney

Estelle’s Antimony Assets

• › 7 antimony-gold prospects

• › High-grade surface samples up to 60.5% Sb & 20 samples > 20% Sb

› Stibium 800m x 400m antimony rich zone - Resource drilling 2025/2026

• › US$43.4M U.S. Dept of War award to onshore antimony production

• › Targeting near term production 2026/27

• › Secure a U.S. domestic supply chain – Mining to refining

- Stibium Estelle’s Antimony Assets

High-grade gold & antimony in close proximity to the Korbel & the camp

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› High-grade antimony and gold with 16 samples > 5 g/t Au up to 141 g/t Au and 12 samples > 30% Sb up to 60.5% Sb

Stibium Stand Alone Antimony-Gold Starter Mine

• Quick start up

• • Low CAPEX

• • Small footprint/quick permitting

• • Early cashflow potential

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› Surface sampling has identified an 800m long by 400m wide antimony rich zone at Stibium, which remains open

› Drilling underway

› Stibium access road in progress

Stibium 35.3% Sb 34.8 g/t Au 32.7% Sb 54.5% Sb 32.6% Sb 34.9% Sb 46.2% Sb 19.3% Sb 43.3% Sb 54.8% Sb Sample E406774 (54.5% Sb) 56.7% Sb 141 g/t Au 42.8 g/t Au 19.1% Sb 55.7% Sb 22.3 g/t Au 45.9% Sb 62.3 g/t Au 64.7 g/t Au 29.1 g/t Au

Rock Chip Sampling – Sb % > 15% Sb

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ASX Announcements: 10 October 2023, 5 & 11 December 2024

Estelle’s Antimony Assets - Styx

High-grade antimony outcrop

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• › High-grade antimony and gold with 5 samples > 1 g/t Au up to 9.8 g/t Au and 9 samples > 1% Sb up to 54.1% Sb

• › The main Styx occurrence is a >1m thick quartz-stibnite vein (up to 50% stibnite) with excellent outcrop exposure over 20m

• › Ore sorting - 132% upgrade yielding 49.1% antimony trisulfide (Sb2S3)

• › Massive stibnite stockpiled at camp for potential near term antimony production

Sample E406941: 54.1% Sb

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ASX Announcements: 10 October 2023, 22 November 2024, 7 August 2025

– Phase 1 Estelle’s Antimony Assets US$43.4M one of the largest recent U.S. govt awards to secure domestic critical minerals supply

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Primary focus to produce military-spec antimony

The funding will support multiple critical project phases from mining to refining including:

• › Resource definition

• › Technical studies and plant design

• › Permitting

• › Mining and processing equipment procurement

• › Construction

• › Production, targeted by late 2026/27

– Phase 1 Estelle’s Antimony Assets Key milestones – Many achieved already

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US$43.4M U.S. Dept of War Award Commence resource definition drilling Commence surface antimony ore stock piling Secure refinery land permits at Port MacKenzie Commence technical studies Stibium access road Appoint leading antimony expert

Conceptual plant design and flowsheet Establish antimony MRE Mine and process equipment procurement Commence mining Construction Commissioning Full scale phase 1 production targeted late 2026/27

Nova holds a commanding first-mover advantage as the sole emerging fully integrated antimony producer, with permitted land in an industrial zone, robust government support, and critical infrastructure in place for its planned Stage 1 and 2 downstream refinery at the deep-water Port MacKenzie, positioning it to become a pivotal supplier in the U.S. antimony market.

Estelle’s Antimony Assets – Refinery Site Land Secured Sole emerging fully integrated antimony producer with land secured in an industrial zone

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• 42.81 acres secured for downstream refinery with land permitted for a commercial operation of a U.S. Critical Minerals Production Hub › Feasibility and environmental studies to commence for downstream refinery at Port MacKenzie industrial zone site

• Port MacKenzie Infrastructure › Bulk commodity export facility

• › 1,200-foot long deep-draft dock for large vessels Conceptual rendering of proposed antimony refinery

Site secured for proposed Nova antimony refinery

• › Separate 500-foot long barge dock

• › Site aligned with West Susitna Access Road

• › Proposed 32-mile rail spur

• › Onsite power

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Aerial view of Port MacKenzie highlighting the site for Nova’s proposed antimony refinery. Source: Port MacKenzie Operations

ASX Announcements: 10 October 2025

High Level Conceptual Antimony Flowsheet Process flowsheet developed for high recovery, high purity antimony

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– Phase 2 Estelle’s Antimony Assets

Proposed fully secured and integrated U.S. domestic antimony supply chain based in Alaska

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Estelle Project

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Concentrator for Refinery Feedstock

Estelle Project Mines

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Feedstock Feedstock Out of state from existing from historical feedstock mines reclamations

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West Susitna Access Road Commencing construction in 2025 Land freight

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Rail freight
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Scale up operations to produce additional refined antimony products including trisulfide, oxide, and metal for the U.S. industrial base

Central Refinery

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Port Mackenzie

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Sea freight Anchorage Air freight Future export potential

Ongoing discussions with U.S. govt agencies for phase 2

Estelle’s Antimony Assets - Conceptual Timeline Phase 1 antimony starter mine to produce military-spec antimony for the DoW

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Antimony Macros

Estelle’s antimony will help address specific vulnerabilities in the U.S. supply chain

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Factor Current Status Projected Impact of Estelle Global production China 54% with ban on exports, Russia 18%, Tajikistan 16% Increase share of U.S. production U.S. import reliance Negligible domestic supply. 100% import reliant Reduce dependencies on imports and mitigates geopolitical risks Defense applications 100% reliant on foreign supply chains Secure a fully integrated U.S. domestic supply chain Price stability Highly volatile due to Chinese exports controls Diversified supply creates stability The Estelle project represents the first fully domestic antimony supply chain in decades, reducing U.S. vulnerability to supply disruptions	Factor Current Status Projected Impact of Estelle Global production China 54% with ban on exports, Russia 18%, Tajikistan 16% Increase share of U.S. production U.S. import reliance Negligible domestic supply. 100% import reliant Reduce dependencies on imports and mitigates geopolitical risks Defense applications 100% reliant on foreign supply chains Secure a fully integrated U.S. domestic supply chain Price stability Highly volatile due to Chinese exports controls Diversified supply creates stability The Estelle project represents the first fully domestic antimony supply chain in decades, reducing U.S. vulnerability to supply disruptions	Factor Current Status Projected Impact of Estelle Global production China 54% with ban on exports, Russia 18%, Tajikistan 16% Increase share of U.S. production U.S. import reliance Negligible domestic supply. 100% import reliant Reduce dependencies on imports and mitigates geopolitical risks Defense applications 100% reliant on foreign supply chains Secure a fully integrated U.S. domestic supply chain Price stability Highly volatile due to Chinese exports controls Diversified supply creates stability The Estelle project represents the first fully domestic antimony supply chain in decades, reducing U.S. vulnerability to supply disruptions	Factor Current Status Projected Impact of Estelle Global production China 54% with ban on exports, Russia 18%, Tajikistan 16% Increase share of U.S. production U.S. import reliance Negligible domestic supply. 100% import reliant Reduce dependencies on imports and mitigates geopolitical risks Defense applications 100% reliant on foreign supply chains Secure a fully integrated U.S. domestic supply chain Price stability Highly volatile due to Chinese exports controls Diversified supply creates stability The Estelle project represents the first fully domestic antimony supply chain in decades, reducing U.S. vulnerability to supply disruptions
	Factor	Current Status	Projected Impact of Estelle
	Global production	China 54% with ban on exports, Russia 18%, Tajikistan 16%	Increase share of U.S. production
	U.S. import reliance	Negligible domestic supply. 100% import reliant	Reduce dependencies on imports and mitigates geopolitical risks
	Defense applications	100% reliant on foreign supply chains	Secure a fully integrated U.S. domestic supply chain
	Price stability	Highly volatile due to Chinese exports controls	Diversified supply creates stability

(USGS) Antimony Uses The Most Im ortant Critical Mineral You have Never Heard Of p

(Munitions, night vision goggles, explosives, communication equipment)

Key properties - heat and flame resistance, anti-corrosion, and its ability to harden and strengthen certain materials and metals

(Smart phone screens, camera lenses, binoculars, energy efficient windows)

Defense 8% (Clothing, furniture, electronics) Flame Retardant 35%

Ceramics & Glass 12% Chemicals 16% (Paints, plastics, adhesives, mixed with alloys)

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(Clean energy battery storage – Ambri liquid metal batteries, vehicles, wind turbines, solar panels)

Energy & Transportation 29%

Strategic critical mineral that is used in all manner of civil and defense applications

Estelle’s Gold Assets

Rapidly advancing one of the world’s largest undeveloped gold assets, aiming to become a tierone, global gold producer

Estelle’s Gold Assets

One of the largest undeveloped gold deposits globally

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Gold prospect
Priority Gold area
Stibium
Shadow
Shoeshine
Muddy Creek
Wombat
Korbel Stoney Train
Tomahawk Discovery
Korbel Main, T5
Cathedral, Trumpet
Isabella, Sweet NK
Portage Trundle Rainy Day West Wing RPM
Jenny, You
Pass RPM North,
Beauty, Blocks
C&D South & Valley
Estelle’s Gold Assets
›
4 large gold deposits, from surface and remain open
›
9.9 Moz Au JORC global resource (ASX compliant) [1]
Revelation
›
5.2 Moz Au S-K 1300 pit constrained resource [1]
›
Thick high-grade drill results, from surface
›
High-grade surface samples up to 1,290 g/t Au
›
Over 20 gold prospects
›
Feasibility studies underway for completion in 2026
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1 Economic pit constrained resource compliant to JORC and S-K 1300 standards. Refer to Appendix 1

Estelle’s Gold Assets e - Staged Dev- Staged D velopment Optionslopment Options

1. RPM starter mine with regional expansion – High-grade resource starter pit

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Potential Gold Processing Plant

RPM Starter Mine

› High-grade from surface (Potentially 5g/t+ Au) › Selective mining of high-grade at/near surface material from RPM North

`

Geological indications show all 3 areas are potentially RPM genetically linked South RPM RPM Valley North RPM Starter Pit Area

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› Potential for expansion ie: RPM, Train, Regional › Smaller footprint, Lower CAPEX, Nova funded › Fast track to production and cashflow › Scalable

Investigating various ore transport options incl. trucks, conveyors, cable ways, chutes

1km

Estelle’s Gold Assets - RPM

High-grade core with mineralization extending from surface and remains open

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RPMRC-24017 29m @ 7.1 g/t Au From surface Incl: 22m @ 9.4 g/t Au RPM South 3m @ 32.2 g/t Au RPM-057 211m @ 3.2 g/t Au 2m @ 52.7 g/t Au From 3m Incl: 120m @ 5.0 g/t Au 79m @ 7.4 g/t Au 63m @ 9.0 g/t Au RPM-005 400m @ 3.5 g/t Au 400m @ 3.5 g/t Au Open from surface Incl: RPM North 287m @ 4.8 g/t Au 132m @ 10.1 g/t Au RPM-015 258m @ 5.1 g/t Au 86m @ 14.1 g/t Au From surface Incl: 161m @ 8.1 g/t Au Open 117m @ 11.1 g/t Au 45m @ 25.3 g/t Au RPM Open Starter Pit Area RPM Valley RPM-022 193m @ 3.9 g/t Au From 4m Incl: Open 67m @ 10.4 g/t Au 43m @ 15.8 g/t Au 34m @ 19.4 g/t Au

• › 115 holes, ~27,000m drilled to date – 13,200m not in current MRE

• › Broad zone of continuous high-grade gold, from surface

RPM-019 344m @ 0.5 g/t Au From 5m Incl: 259m @ 0.6 g/t Au 39m @ 1.0 g/t Au 38m @ 1.0 g/t Au from 130m

RPM-005 400m @ 3.5 g/t Au 400m @ 3.5 g/t Au from surface Incl: 287m @ 4.8 g/t Au 132m @ 10.1 g/t Au 86m @ 14.1 g/t Au

• › Mineralization remains wide open

RPM-023 333m @ 0.9 g/t Au From 8m Incl: 116m @ 0.9 g/t Au 94m @1.0 g/t Au 15m @ 2.3 g/t Au

• › Heap leach recoveries of 68.7% achieved in lower grade ore test work

• › Ore sorting ore below 2 g/t Au achieves up to 4.33 X uplift in grade

• › Awaiting assays for 27 holes from 2025 drilling

RPM-060 204m @ 1.0 g/t Au From 110m Incl: 54m @ 2.1 g/t Au 42m @ 2.6 g/t Au 17m @ 5.3 g/t Au

RPM-008 260m @ 3.6 g/t Au from 11m Incl: 140m @ 6.5 g/t Au 87m @ 10.1 g/t Au 56m @ 15.0 g/t Au

Open Open

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RPM-037 lower intrusive 268m @ 0.7 g/t Au From 282m Incl: 103m @ 1.0 g/t Au 21m @ 2.5 g/t Au 30m @ 2.0 g/t Au

Super high-grade Measured core of 180 Koz @ 4.1 g/t Au within a wider high-grade M&I Core of 330 Koz @ 2.4 g/t Au and a total resource of 1.13 Moz @ 0.7 g/t Au from Surface[1]

ASX Announcements 11 & 27 October 2021, 8 & 22 August 2022, 4 October 2022, 11 December 2023, 10 January & 23 October 2024, 5 August 2025 1 Economic pit constrained resources compliant to JORC and S-K 1300 standards. Refer to Appendix 1

Estelle’s Gold Assets – RPM Upside Glacial debris lobe averaging 1.1 g/t Au over 1.7km in till samples

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Test drilled in 2025 and awaiting assays

Estelle’s Gold Assets - Staged Development Options

2. Expanded project – Korbel + RPM + Regional - Scalable with decades of potential pipeline

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Korbel Main and Cathedral 550m apart with the potential to be genetically linked

Potential Gold Processing Plant

Korbel Main Pit

Expanded Project – Korbel + RPM + Regional › Scalable

› Multi-decade mine life › Multiple mining centers › Multiple commodities (Au, Sb, Ag, Cu, CMs) › Higher CAPEX, higher NPV & cashflow › Significantly increased gold production › Economies of scale – low AISC › Nova growth and/or strategic partner funding

1km

Estelle’s Gold Assets - Korbel

Bulk tonnage gold with low strip amenable to large scale selective mining

• › 228 holes, ~70,000m drilled to date. Awaiting assays from14 shallow holes from 2025 drilling

• › Low strip ratio 0.76:1 › Mineralization from surface and remains wide open

KBDH-072 308m @ 0.7 g/t Au from surface Incl: 113m @ 1.0 g/t Au 49m @ 1.5 g/t Au 21m @ 2.5 g/t Au

• › Ore sorting – Potentially up to 10 X uplift in grade (>5 g/t Au)

Korbel Main

› FS test work investigating the potential to heap leach Korbel ore

• › Environmental studies at an advanced stage

KBDH-012 429m @ 0.6 g/t Au from 3m Incl: 101m @ 1.3 g/t Au 82m @ 1.5 g/t Au 30m @ 2.4 g/t Au

• › Resource upside potential with:

o High-grade rock chips at Cathedral defining a high priority drill target

• Size & scale of Cathedral mirrors Korbel Main

KBDH-024 549m @ 0.3 g/t Au from 3m Incl: 97m @ 0.8 g/t Au 15m @ 2.3 g/t Au 3m @ 8.2 g/t Au

• 6 other exciting untested prospects in the Korbel area

KBDH-081 277m @ 0.5 g/t Au from 3m Incl: 94m @ 1.0 g/t Au 30m @ 1.9 g/t Au 9m @ 4.4 g/t Au

4.05 Moz @ 0.3 g/t Au, Including 2.39 Moz @ 0.3 g/t Au Indicated from surface, with a higher-grade feeder system[1]

ASX Announcements 19 August 2020, 1 December 2020, 6 June 2021, 19 July 2021, 7 October 2021, 23 December 2021, & 28 February 2022 1 Economic pit constrained resources compliant to JORC and S-K 1300 standards. Refer to Appendix 1

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98 g/t Au

114 g/t Au

37 g/t Au

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Cathedral

CTDD-003B 269m @ 0.4 g/t Au from 168m Incl: 70m @ 0.6 g/t Au 3m @ 2.7 g/t Au

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CTDD-001 354m @ 0.3 g/t Au from 104m Incl: 11m @ 1.1 g/t Au

Estelle Proven & Robust Flowsheet

Simple metallurgy for easy gold liberation - A big cost differentiator Further improvements being tested as part of the current FS level studies

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Key: Current flow sheet from the scoping study Conceptual additions to the flow sheet currently being tested as part of the FS level studies. Critical minerals extracted and previous reject waste now sent as low-grade ore to heap leach

ASX Announcements 28 February, 10 August 2022, & 26 March 2024

Estelle’s Gold Assets - Conceptual Timeline Significant value upside as the project continues to de-risk

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Estelle Regional Expansion Potential > 20 Prospects

To Date < 5% of the 514km[2] property has been explored

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35km long mineralized intrusive corridor

Gold, and highly elevated concentrations of Silver, Copper, Antimony and Other Critical Minerals have also been discovered across the project

Stoney Area

• › 7 exciting gold, antimony, and multi-element targets in the central portion of the claim block

• › Numerous high-grade gold, silver, copper and antimony rock samples with grades up to 360 g/t Au, 2,720 g/t Ag, 8.5% Cu and 1.3% Sb

Train Area

• › 6 exciting gold, antimony, and multi-element targets located ~6km north of RPM

• › Muddy Creek - One of the most impressive gold anomalies with 24 rock samples > 10 g/t Au up to 128.5 g/t Au

• › Shoeshine - Abundant antimony enriched style gold mineralization with rock sample grades up to 1,290 g/t Au and 0.9% Sb

• › Trumpet - 21 rock samples > 5 g/t Au up to 132.5 g/t Au and13 rock samples > 0.5% Sb up to 16.8% Sb

• › Train - 32 rock samples > 5 g/t Au up to 80.2 g/t Au and 15 rock samples > 0.5% Sb up to 10% Sb

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Nova’s Low-
Cost
Pathfinder
Approach to
Exploration
Geology
Observed in
Tomahawk
Wombat Outcrop
Trundle
Rainy Day
Stoney
West Wing
T5 Surface
Mapping &
Sampling
Muddy Creek
Discovery
Trumpet
Shadow
Train Shoeshine Surface
Anomaly
Drilling
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ASX Announcements 26 August 2020, 16 & 20 November 2023, 5 December 2023, & 26 February 2024

Estelle Infrastructure Solutions

Located on State of Alaska public lands close to Anchorage

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Location

• › State of Alaska public lands, 150km northwest of Anchorage

• › 35km long mineralized corridor on 514km[2] of State of Alaska Mining claims

• › Alaska has a streamlined permitting process

• › Fully permitted for exploration

Access

• › Short flight from Anchorage or Willow to an all-season air strip

• › Winter trail used to transport large and heavy equipment

• › Proposed West Susitna Access Road has considerable government and community support

• All weather road that will link the project to port, rail and road

• 1[st] part of the road included in the DoT plan to break ground in late 2025

• AIDEA submitted permits for the remaining portion of the road and the Governor has requested expediated permitting and priority project status in accordance with the Presential Executive Orders

Facilities

• › 80 person fully winterized camp

• › Onsite sample processing facility

• › 4,000 foot all season airstrip which can facilitate large capacity DC3 aircraft

Power – Numerous Options Being Investigated for the FS

• › Link to the state grid or proposed Flatlands Coal power plant

• › Offtake from the proposed Donlin gas pipeline

• › Diesel generators

• › Micro-nuclear reactor

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Anchorage
Willow Airstrip Port Mackenzie
Anchorage
International
Airport
Proposed West Susitna Access Road
(All weather road)
Winter Trail
Beluga Power Plant
(Electricity source)
Proposed Gas Pipeline
(Donlin Creek)
Potential Power Flatlands Coal
Transmission Line (Potential Power Plant)
(Feed to State grid)
"The West Susitna Road is important for local
residents and gaining fair access to hunting,
fishing, and potential jobs. My administration is
constantly looking at ways to grow our economy
Whiskey Bravo and this project is a great opportunity for not
Airstrip & Camp only south-central Alaska but the entire state. I
am committed to this project and unlocking
resources that benefit all Alaskans.“
Alaska Governor, Mike Dunleavy
Construction Proposed to Start in late 2025
Estelle Project
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Board of Directors

Team with the experience to get Estelle into production

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Richard Beazley Non-Executive Chairman

Internationally experienced mining professional and director with over 35 years of experience in senior corporate, operational and project development roles.

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Christopher Gerteisen Executive Director & CEO Over 30 years' experience managing and advancing resource projects from green fields, through development and into production across North America, Australia and Asia.

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Louie Simens

Executive Director & COO Over 20 years’ experience managing and operating multiple business with large projects in the building, mining and civil industries. Maintains extensive networks in the mining and financial industry.

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Craig Bentley Director Finance & Compliance Over 30 years commercial and finance experience working in senior roles within multinational private enterprises as well as auditing for Ernst and Young.

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Avi Geller Non-Executive Director Extensive investment experience and a deep knowledge of corporate finance, including capital markets, venture capital, hybrid, debt and private equity.

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Dovi Berger Non-Executive Director

10+ years of experience in capital markets and M&A, combining legal, accounting, and operational expertise to drive acquisitions, financial controls, and regulatory compliance.

Experienced management who have collectively personally invested over US$5M and who are committed and aligned to ensure Nova fulfils its vision of getting Estelle into production as soon as possible

Technical Team

Industry-leading team of over 50 consultants powering Estelle’s path to production

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Hans Hoffman

General Manager

Professional Geologist with 20 years experience developing, conducting, and managing geotechnical engineering and mineral exploration projects primarily focused on resource development in Alaska

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Mine Engineering

Roughstock Mining are mine engineering specialists offering high-quality mine design, management, and technical services worldwide, with decades of experience ranging from grassroots exploration to large-scale operations.

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Environmental & Permitting

Jade North are a team of seasoned professionals, including former state regulators, with over two decades of experience specializing in natural resource management, permitting, and regulatory strategy.

Allihies Engineering

Antimony Metallurgy Processing

Allihies Engineering is a globally respected authority in antimony and precious metals processing, bringing over 45 years of international experience in chemical engineering, metallurgy, engineering design, mineral resource management, and industrial plant operations.

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Mine Optimization

Whittle Consulting are specialists in integrated strategic planning with over 35 years of experience enhancing mining economics through advanced optimisation beyond conventional methods

Technical Team - Continued

Industry-leading team of over 50 consultants powering Estelle’s path to production

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Metallurgy Processing

METS Engineering has over 30 years of experience providing specialist engineering services and innovative solutions to the mining and mineral processing industries worldwide.

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Environmental Studies

Restoration Science & Engineering, LLC is an Anchorage-based firm with over 25 years of experience providing full-service environmental and civil engineering, biological services, remediation, water resources, and project permitting to Alaskan municipal, industrial, state, and federal clients

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Environmental Studies

ABR, Inc. is an ecological and environmental consulting firm who provide biological, habitat, aquatic, wetland, and permitting science services with decades of experience working in challenging environments.

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Hydrology

Arcadis is a global company that offers extensive hydrology services, including managing the entire water cycle through consultancy, design, and engineering solutions

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Survey & Infrastructure

Recon, LLC is an Alaska-based civil, geological engineering, and surveying firm specialising in remote route reconnaissance, infrastructure development, project feasibility studies, and project management for natural resource clients

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Geochemistry

SLR International Corporation is a global environmental and advisory consultancy that delivers specialist services in environmental science, engineering and sustainability.

Creating Long-Term Value for All Stakeholders

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Established a Social Licence To Operate

• Hire and Buy Alaskan - we strive to offer support through prioritising local employment and local procurement with our “Hire & Buy Alaskan” policy.

• Support Local Communities – Nova has established strong, collaborative, and respectful working relationships with the communities adjacent to our operations and is committed to supporting them to ensure we have a meaningful impact on their culture, environment and economic prosperity.

• Responsible Development - Nova takes its environmental responsibilities seriously and is committed to achieving excellence in environmental management through understanding the sensitivities of our operations and reducing the impacts of our operations as low as reasonably practicable

• Health and Saf ety - Nova is committed to adopting and adhering to best practice safety standards to maintain a culture of integrity and ownership, and to provide a safe working environment at all our locations

Supporting Alaska and Alaskans

Committed to creating a safe and environmentally responsible future mining operation that provides opportunities for all Alaskans.

.

(As of 7 November 2025 in USD unless noted) Corporate Overview

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Capital Structure

Share Structure

Shares on Issue[1] 410,813,177 NASDAQ Listed Warrants[2] (Exp 25/7/29 @ 167,225 US$7.266) Unlisted Options (Exp 30/11/25 @ A$1.20) 8,250,000 Unlisted Options (Exp 16/1/26 @ A$0.91) 1,714,286 Performance Rights (Various hurdles) 2,400,000 Share Price – ASX (22 October 2025) A$0.86 Share Price NASDAQ ADS’s (7 November US$8.87 2025 – 1 ADS = 12 shares) Market Capitalization US$230M Cash (30 September 2025) ~US$11M U.S. Dept of War Award US$43.4M No Debt Nil

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5% Board & Mgmt. Top 20 – 61%
Top 50 – 70%
Strategic & Institutions
29%
Balance of Register
66%
12 Month Share Price (NASDAQ prices adjusted for 1:5 ADS split)
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1. Includes ~15M ADS’s where 1 ADS = 12 shares following the 1:5 ADS split

2. Each warrant exercisable for 5 ADS’s following the ADS split

Estelle Project – Upcoming Catalysts Unlocking gold and antimony value at Estelle

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Antimony refinery project updates

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2025 drill and sampling program results Mineral Resource Estimate (MRE) update Metallurgical and technical study results

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Mine and infrastructure permitting Feasibility studies

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Regional infrastructure development updates (West Su Access Road, Port Mac, etc)

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Nova’s Value Drivers

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Favourable jurisdiction and tenure - All on State of Alaska lands (No federal or native lands) Upcoming worldclass gold and antimony producer – Favourable macros Experienced CEO and management team One of the world’s largest undeveloped gold projects Open pit, low strip, bulk minable, high-grade deposits Significant resource upside potential US$43.4M Dept of War antimony production award received First mover towards fully integrated US domestic antimony production

Follow Us

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Nova Minerals Limited

T: +61 3 9537 1238 E: info@novaminerals.com.au W: www.novaminerals.com.au Main Operations Whiskey Bravo Airstrip Matanuska-Susitna Borough, Alaska, USA 1150 S Colony Way Suite 3-440, Palmer, AK 99645

Office Suite 5 242 Hawthorn Road Caulfield Victoria 3161 Australia

ASX: NVA | NASDAQ: NVA | FRA: QM3

36

Appendix 1: Mineral Resource Estimates (MRE)

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JORC Compliant Global MRE

• High confidence, conservative Global MRE 9.9 Moz – April 2023

• Currently excludes ~13,200 of drilling undertaken in 2024 and 2025

• Includes a super high-grade zone of 180 Koz @ 4.1 g/t Au Measured

• Based on ~ 83,000m of RC and high-quality oriented diamond core drilling

• Comprises of 4 large IRGS deposits

• Resources from surface and all deposits remain open with significant potential upside

• Suitable for large scale open pit mining

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ASX Announcements 11 April 2023, & 16 April 2024

Appendix 1: Mineral Resource Estimates (MRE)

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JORC and S-K 1300 Compliant Economic Pit Constrained MRE for the Estelle Gold Project

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1. A mineral resource is defined as a concentration or occurrence of material of economic interest in or on the Earth’s crust in such form, grade or quality, and quantity, that there are reasonable prospects for economic extraction.

2. The mineral resource applies a reasonable prospect of economic extraction with the following assumptions: • Gold price of US$2,000/oz • 5% royalty on recovered ounces • Pit slope angle of 50o • Mining cost of US$1.65/t

3. Processing cost for RPM US$9.80/t and Korbel US$5.23/t (inclusive of ore sorting for Korbel) • Combined processing recoveries of 88.20% for RPM and 75.94% for Korbel • General and Administrative Cost of US$1.30/t

4. Tonnages and grades are rounded to two significant figures and ounces are rounded to 1,000 ounces, subject to rounding

ASX Announcement 16 April 2024