Central Asia Metals (CAML) Investor Presentation summary

Transaction overview and structure

• Acquisition of New World Resources Limited (NWR), owner of the Antler copper project in Arizona, via an Australian Scheme of Arrangement for A$0.05 per share, valuing NWR at A$185m (US$119m).

• Transaction funded by existing cash and a new US$120m senior secured credit facility from BMO, ING Bank, and Société Générale.

• Scheme requires approval from at least 75% of votes cast and more than 50% of NWR shareholders present and voting, with board support and regulatory approvals.

• Scheme meeting expected in August 2025; completion targeted for September 2025.

Strategic rationale and impact

• Acquisition is transformative, more than doubling annual production and cash flow, with Antler expected to add 30kt copper equivalent per year and US$115m post-tax free cash flow.

• Antler project offers high-grade resources (14.2Mt at 3.8% Cu-eq) and robust economics (post-tax NPV7% US$498m, IRR >30%).

• Transaction is immediately accretive to NAV per share and offers attractive valuation at ~0.2x P/NPV.

• Increases copper exposure in a tier-one jurisdiction with strong US government support for critical minerals.

Antler project details

• Located in northern Arizona, close to major infrastructure, with most facilities on private land.

• Mining method: underground longhole open stoping with paste backfill; conventional flotation to produce Cu, Zn, and Pb concentrates.

• Life of mine: 12.2 years, average annual payable production of 30kt Cu-eq, LoM C1 cost US$1.97/lb Cu-eq, AISC US$2.18/lb Cu-eq.

• Pre-production capex US$298m; DFS and permitting underway, with project unconstrained by offtake commitments.