Capstone Copper (CS) Corporate Presentation summary

Strategic growth and operational overview

• Near-term copper production growth targets ~400ktpa, with 95% of revenues from copper and a workforce of ~6,000 in the Americas.

• Five operating and development assets in stable jurisdictions, with Mantoverde and Mantos Blancos awarded the Copper Mark for responsible production.

• District-scale growth opportunities across Pinto Valley, Cozamin, Mantos Blancos, Mantoverde, and Santo Domingo, with significant mine life extensions and expansion potential.

• Clear path to transformational growth, targeting ~400kt annual copper production, supported by expansions and new projects.

• 2025 guidance: consolidated copper production of 220–255kt at C1 cash costs of $2.20–$2.50/lb, with Mantoverde and Santo Domingo as key growth drivers.

Financial position and capital allocation

• Available liquidity of $516M and net debt of $751M as of September 30, 2024, with strong financial flexibility for growth.

• Revolving credit facility of $700M and non-recourse project finance of $520M, supporting disciplined capital allocation and long-term value creation.

• Capital allocation strategy prioritizes operational excellence, high ROI projects, and maintaining net leverage below 2.0x (excluding major project construction).

Major project updates: Mantoverde and Santo Domingo

• Mantoverde ramped up to over 80% of design capacity in 2024, with best-in-class commissioning and commercial production milestones achieved.

• Mantoverde Optimized Feasibility Study outlines a $146M brownfield expansion, adding 20ktpa copper and extending mine life to 25 years, with $2.9Bn post-tax NPV at $4.10/lb Cu.

• Santo Domingo fully permitted, 19-year mine life, 106ktpa average copper and 3.7Mtpa iron ore production, $2.3Bn initial capex, and $1.7Bn post-tax NPV at $4.10/lb Cu.

• District integration of Mantoverde and Santo Domingo targets annual copper production of ~250kt, leveraging synergies and shared infrastructure.