Central Asia Metals (CAML) Investor Presentation summary

Financial performance and capital allocation

• 2024 EBITDA reached $101.8m with a 47% margin; profit after tax was $50.8m and free cash flow $65.7m.

• Revenue totaled $214.4m; group capex was $20.8m, with 2025 capex guidance of $18-21m.

• Ended 2024 debt-free with $67.6m cash; full-year dividend of 18p, representing 63% of FCF.

• Since IPO, ~$380m returned in dividends, exceeding total equity raised.

• Dividend policy targets 30-50% of FCF; 2024 final dividend of 9p payable in May 2025.

Operational highlights and production

• Kounrad produced 13,439t copper cathode in 2024; 2025 guidance is 13,000-14,000t.

• Sasa mine produced 18,572t zinc and 26,617t lead in 2024; 2025 guidance is 19,000-21,000t zinc and 27,000-29,000t lead.

• Kounrad C1 copper cash cost was $0.80/lb; Sasa C1 cost was $0.76/lb, both up year-on-year.

• Sasa mine life extended to 2039; Kounrad licensed to 2034 with 85kt minimum recoverable copper remaining.

• Transition to paste-fill mining and dry stack tailings at Sasa completed key milestones in 2024-2025.

Sustainability and community initiatives

• Kounrad achieved zero lost time injuries since May 2018; 100% local employment and $33.2m taxes paid in 2024.

• Sasa achieved 98% local employment, $9.5m taxes paid, and 100% renewable energy use.

• Foundations at both sites funded at 0.5% of revenue, supporting local education, health, and infrastructure.

• Cumulative local development spending: $3.2m at Kounrad, $2.3m at Sasa.

• Sasa conformed to Global Industry Standard on Tailings Management and developed an early warning system.