Marimaca Copper (MARI) Corporate presentation summary

Project overview and development status

• Definitive Feasibility Study (DFS) completed for the Marimaca Oxide Deposit (MOD), targeting 50ktpa copper cathode production with a 13-year mine life and a low strip ratio open pit operation.

• Environmental approval (RCA) received in November 2025, marking a key permitting milestone and advancing the project toward a final investment decision.

• Project is located in Chile’s Antofagasta region, close to major infrastructure, with recycled seawater supply secured and certified renewable power available.

• Detailed engineering, sectorial permitting, and project financing are underway, with early site works and long-lead items identified for 2026.

• The MOD is positioned as a low capital intensity, high margin project with industry-leading ESG credentials.

Financial highlights and capital intensity

• Post-tax NPV (8%) of US$1.1 billion and IRR of 39% at US$5.05/lb copper price; payback period of 2.2 years.

• Pre-production capex of US$587 million, with initial capital intensity of US$11,700/t of copper production capacity, ranking among the lowest globally.

• C1 cash cost of US$1.69/lb and AISC of US$2.09/lb, placing the project in the second quartile of the global cost curve.

• EBITDA margin of 58% and average annual EBITDA of US$326 million over the mine life.

• Strong cash position of US$165.6 million as of February 2026, supporting ongoing development and exploration.

Resource, reserve, and exploration potential

• 2025 Mineral Resource Estimate: 213.5Mt at 0.40% CuT (Measured & Indicated), with 93% of tonnes in M&I categories.

• Proven and Probable Ore Reserves: 179Mt at 0.42% CuT for 748kt contained copper.

• Extensive exploration targets identified near the MOD (Cindy, Roble, Mercedes, Tarso, Sierra), with potential for significant oxide resource additions.

• Pampa Medina and Madrugador acquisitions offer district-scale growth, with ongoing 100,000m drilling program targeting both oxide and sulphide mineralization.

• Drilling at Pampa Medina has confirmed thick, high-grade sediment-hosted copper mineralization, with mineralization remaining open at depth and along strike.