Taseko Mines (TKO) investor relations material

Executive summary

• Achieved first copper cathode production at Florence in late February 2026, marking a major operational milestone and ramp-up underway.

• Gibraltar Mine delivered steady production with 30 million pounds of copper and over 700,000 pounds of molybdenum, in line with expectations.

• Adjusted EBITDA reached $93 million, up 172% year-over-year, and net income was $17 million ($0.05/share); adjusted net income was $28 million ($0.08/share).

• Revenues reached $237 million from sales of 27 million pounds of copper and 708,000 pounds of molybdenum.

• Yellowhead project advanced in environmental assessment and was added to British Columbia's priority projects list.

Financial highlights

• Generated $237 million in revenue, the highest quarterly revenue to date, driven by strong copper and molybdenum sales.

• Adjusted EBITDA was $93.5 million; net income was $16.8 million; adjusted net income was $27.5 million.

• Cash flow from operations reached $93.9 million, up from $55.9 million year-over-year.

• Cash balance at March 31, 2026, was $169 million, with total available liquidity of $322 million.

• Total site costs were $142 million, up 13% from Q4 2025, reflecting inflationary pressures.

Outlook and guidance

• Florence Copper expected to produce 30–35 million pounds in 2026, with production weighted to the second half as new wells come online.

• Targeting 80–85 million pounds of copper production at Florence in 2027 (steady-state capacity).

• Gibraltar copper production for 2026 expected at 110–115 million pounds, with similar levels projected through 2028.

• Gibraltar's strong molybdenum grades expected to continue for the remainder of the year.

• Diesel price increases may raise Gibraltar's operating costs by $0.15/lb if current market conditions persist.