Cyprium Metals Limited · ASX:CYM
Cyprium Metals — Investor Presentation (October 2026)
37 slides from Cyprium Metals's investor presentation, Oct 30, 2026
Slide 1: Building Australia's Next Great Copper Company
For personal use only BUILDING AUSTRALIA'S NEXT GREAT COPPER COMPANY NEAR TERM CATHODE PRODUCER INVESTOR PRESENTATION | OCTOBER 2026 www.cypriummetals.com www.cypriummetals.com Not for distribution to US wire services or release in the United States
Slide 2: Important Information
IMPORTANT INFORMATION IMPORTANT: You must read the following before continuing. This Investor Presentation (“Presentation”) has been prepared by Cyprium Metals Limited (ABN 48 002 678 640) (“Cyprium” or “Company”) and authorised for release by the Executive Chair of Cyprium. Summary information For
Slide 3: Important Information: Nifty PFS and Resources
IMPORTANT INFORMATION Nifty PFS Cyprium published a pre-feasibility study for the Nifty Copper Complex (the Nifty PFS) on 27 November 2024 (announcement entitled “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve” released to the ASX announcements platform on 27 November 2024). For person
Slide 4: Investment Highlights
CYPRIUM METALS: TRANSITIONING TO COPPER PRODUCER, DEFINING FUTURE GROWTH PLANS For personal use only INVESTMENT HIGHLIGHTS Cyprium’s Nifty Copper Complex is a brownfield copper redevelopment entering into production Commissioning 6,000 tpa of cathode production to capitalise on strong copper prices1
Slide 5: Cyprium Metals Overview
For personal use only CYPRIUM METALS OVERVIEW 5 CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Slide 6: Brownfield Copper Opportunity of Significant Scale
BROWNFIELD COPPER OPPORTUNITY OF SIGNIFICANT SCALE The Nifty Copper Complex comprises a rare combination of installed oxide and sulphide processing capacity, proximate to substantial existing resources offering both scale and duration For personal use only INSTALLED PRODUCTION CAPACITY 1 DEFINED RES
Slide 7: Simple Staged Plan Builds Off Brownfield Infrastructure
SIMPLE STAGED PLAN BUILDS OFF BROWNFIELD INFRASTRUCTURE Maximising advantage of existing infrastructure, resources and permits to bring copper units to market quickly Illustrative Refurbished Processing Capacity1 For personal use only Oxides (Cathode) Sulphides (Ore) PHASE 1 RESTART IN COMMISSIONING
Slide 8: Phase 1 Cathode Production
For personal use only PHASE 1 CATHODE PRODUCTION 8 CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Slide 9: Final Stages of Transition to Operations
FINAL STAGES OF TRANSITION TO OPERATIONS Heap leach operations in commissioning; SXEW plant in final weeks before commissioning For personal use only Material derisking of future operations through delivery of commissioning milestones Direct injection leaching program achieving targeted rates quickl
Slide 10: Phase 1: Restart of Heap Leach Operations
PHASE 1: RESTART OF HEAP LEACH OPERATIONS1 Recovery of existing copper through direct injection leaching to produce copper cathode through refurbished SXEW plant For personal use only Production Area on Existing Heap Leach Pads Solvent extraction plant2 Electrowinning plant2 Production well field In
Slide 11: Direct Injection Leach Mine Plan Being Delivered
DIRECT INJECTION LEACH MINE PLAN BEING DELIVERED1 Rapid achievement of commissioning milestones supporting targeted copper production For personal use only Near term mine plan infrastructure established Injection leach volumes in line with target and forecast leach chemistry reached quickly during c
Slide 12: Staged Expansion of Copper Production
For personal use only STAGED EXPANSION OF COPPER PRODUCTION 12 CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Slide 13: Phase 2: Cathode Expansion Through Open Pit Restart
PHASE 2: CATHODE EXPANSION THROUGH OPEN PIT RESTART Restoring SXEW to +20,000 tpa production capacity1 enables revenue from known near-surface oxides For personal use only Conceptual Site Plan2 Oxide Resource Location (oblique plan view) Low Grade Stockpiles North Wall Nifty East Oxide Resource Loca
Slide 14: Phase 2: SXEW Expansion Enables Production Growth
PHASE 2: SXEW EXPANSION1 ENABLES PRODUCTION GROWTH Restoration of additional cells and process areas is a quick and cost-effective way to grow cathode production in strong market For personal use only Cyprium has advanced study work to support next stage of plant expansion and DFS work streams • Pla
Slide 15: Phase 3+: Expand Open Pit into Sulphide Orebody Beneath
PHASE 3+: EXPAND OPEN PIT INTO SULPHIDE OREBODY BENEATH DFS open pit mine plan prioritises recovery of undisturbed sulphide ores as pit deepens For personal use only Priority Sulphide Resource Location (oblique plan view) Sulphide orebody has significant undisturbed orebody above and up dip from pre
Slide 16: DFS: Targeting Value Creation Through Simpler Plan
DFS: TARGETING VALUE CREATION THROUGH SIMPLER PLAN Prioritising opportunities for speed to revenue and increased capital efficiency relative to 2024 Nifty PFS1 For personal use only ` 2024 PFS1 2027 DFS Strategy2 Driver Expand mill to 4.5 Mtpa at start Start mill at 2.8 Mtpa Faster to market, Sulphi
Slide 17: DFS: Key Workstreams Underway to Support H1 Delivery
DFS: KEY WORKSTREAMS UNDERWAY TO SUPPORT H1 DELIVERY Rapidly progressing DFS work scope towards delivery targeted for H1 CY20271 Concentrator Refurbishment Cost Estimation For personal use only CY2026 CY2027 Q3 Q4 Q1 Q2 Q3 Q4 PHASE 1 CATHODE RESTART HL project delivery HL commissioning HL optimisati
Slide 18: CYM Advancing Funding Discussions for Open Pit
CYM ADVANCING FUNDING DISCUSSIONS FOR OPEN PIT Long-life, low capital copper production is attractive to many sources of finance For personal use only Phased expansion and long mine life in a Tier 1 jurisdiction are a scarce combination, attracting interest from a range of potential financiers • The
Slide 19: Cyprium Metals Snapshot
CYPRIUM METALS SNAPSHOT (ASX: CYM) Brownfield restart of prolific copper complex in Western Australia CORPORATE SUMMARY1 CYM SHARE PRICE CHART For personal use only Share Price (as at 28 October 2026) A$0.365 Share Price (A$) Volume (M) 0.70 Shares on issue 578m 0.60 Market Capitalisation A$211.0m 0
Slide 20: Proven Leadership Team
PROVEN LEADERSHIP TEAM BOARD OF DIRECTORS For personal use only MATT FIFIELD AMBER BANFIELD GARY COMB SCOTT PERRY JIM SIMPSON Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director • Deep-value investor-operator with track • ~30 years Exec. / B
Slide 21: Capital Raising Details
For personal use only CAPITAL RAISING DETAILS 21 CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Slide 22: Equity & Debt to Fund DFS and Enable Near-Term Growth
EQUITY & DEBT TO FUND DFS AND ENABLE NEAR-TERM GROWTH Proceeds to fund continued progress of high-value near-term growth projects For personal use only • Phase 1 Cathode Restart approaching completion Sources & Uses of funds A$m • $37.6m current cash (Sep26) supporting project completion and operati
Slide 23: Nebari Term Sheet – Summary of Material Terms
NEBARI TERM SHEET – SUMMARY OF MATERIAL TERMS Proposed US$40 million extension to existing senior debt facility1 For personal use only Parties • Cyprium Metals Limited (the “Borrower”) and Nebari Natural Resources Credit Fund II, LP and/or any of its affiliates (the “Lender”) • Expanded Senior Debt
Slide 24: Equity Raising Overview
EQUITY RAISING OVERVIEW A$20.7 million institutional placement and A$5.0m share purchase plan For personal use only ▪ The Company is completing a two tranche Placement to raise approximately A$20.7 million (before costs) via the issue of approximately 62.8 million New Shares in Cyprium to profession
Slide 25: Indicative Timetable and Capital Structure
INDICATIVE TIMETABLE AND CAPITAL STRUCTURE Summary of key dates For personal use only Event Indicative Time / Date (2026) Pro-Forma Capital Structure (Post-Placement) Trading Halt Thursday, 29 October SPP Record Date Shares on issue (CYM: ASX) 640.9m 7:00 pm (AEDT), Thursday, 29 October Trading halt
Slide 26: Supplementary Materials
For personal use only SUPPLEMENTARY MATERIALS 26 CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Slide 27: Extensive Copper Mineralisation in Waste Dump
EXTENSIVE COPPER MINERALISATION IN WASTE DUMP Potential source of additional oxide feed to the refurbished heap leach and SXEW For personal use only MINERALISED WASTE DUMP ▪ Extensive copper mineralisation identified on the Nifty waste dump, highlights include: – 9m @ 1.00% Cu from 0m, incl. 4m @ 1.
Slide 28: 2,000 km2 of Under-Drilled Prime Basin Margin Targets
2,000 KM2 OF UNDER-DRILLED PRIME BASIN MARGIN TARGETS CYM tenements (red) …that are located in sedimentary stratigraphy alongside already host multiple large copper deposits … key basin-scale structural features1 For personal use only 1. From Parui et al (2025), “Structural evolution of the inverted
Slide 29: Maroochydore Rediscovered
MAROOCHYDORE REDISCOVERED Globally significant copper resource in Paterson district within haul distance to Nifty For personal use only 370.8Mt @ 0.43% Cu, 227 ppm Co 106.3Mt @ 0.67% Cu, 308 ppm Co Sedimentary copper Higher-grade domain Inferred resources Higher-grade zone within inferred mineralisa
Slide 30: Mineral Resources & Ore Reserves
MINERAL RESOURCES & ORE RESERVES MINERAL RESOURCES ORE RESERVES For personal use only Nifty, Nifty Heap Leach, Maroochydore (Copper)1 Nifty, Nifty Heap Leach1 Deposit Classification Mt Cu (%) Cu (t) Deposit Classification Mt Cu (%) Cu (t) Nifty Measured 38.06 0.98 374,080 Nifty Proved 22.7 1.06 239,
Slide 31: Key Risks & International Offer Restrictions
For personal use only KEY RISKS & INTERNATIONAL OFFER RESTRICTIONS 31 CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Slide 32: Key Risks: Company Specific
KEY RISKS Company specific Risk Category Risk For personal use only The Company has negotiated a term sheet with Nebari Natural Resources Credit Fund II LP (“Nebari”), the lender of an existing US$27.3 million secured senior debt facility (“Existing Facility”), for an up to US$40 million proposed ex
Slide 33: Key Risks: Industry Specific
KEY RISKS Industry specific Risk Category Risk For personal use only The operations and proposed activities of the Company are subject to State and Federal laws and regulations concerning the environment. As with most exploration projects and mining operations, the Company’s activities are expected
Slide 34: Key Risks: Industry Specific
KEY RISKS Industry specific Risk Category Risk For personal use only The operations of the Company may be affected by various factors, including failure to locate or identify mineral deposits, failure to achieve predicted grades in exploration and mining, operational and technical difficulties encou
Slide 35: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
Slide 36: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in co
Slide 37: Contact
For personal use only CONTACT Angus Miles Corporate Development and Investor Relations +61 8 6374 1550 Chris Lim External Media Relations Advisor +61 493 392 001 [email protected] [email protected] Registered Office Level 1, 437 Roberts Road Subiaco WA 6008 Australia Te
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