Halo Minerals Plc · LSE:HALO
Halo Minerals — Investor Presentation (October 2026)
23 slides from Halo Minerals's investor presentation, October 2026
Slide 1: Halo Minerals Plc: Copper and Gold from Legacy Mining Waste
HALO Minerals Plc COPPER AND GOLD FROM LEGACY MINING WASTE NEAR-TERM LOW GEOLOGICAL TANGIBLE ESG PRODUCTION RISK RESTORATION
Slide 2: Disclaimer
Halo Minerals Plc | Disclaimer The information contained in this confidential document (“Presentation”) has been prepared by Halo Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment Minerals Plc (the “Company”). It has not been fully verified
Slide 3: A differentiated copper development proposition
A differentiated copper development proposition Strong CPR-based economics from surface-deposited legacy mine tailings 33.94 Mt US$ 195.9m ~46% US$ ~56m JORC compliant Ore After-tax NPV8 After-tax IRR Average annual free Reserves @ 0.25% Cu Reserves Case Reserves Case cashflow Well advanced and tech
Slide 4: Why Playa Verde is different
Why Playa Verde is different Known feedstock No conventional mining • Surface-deposited historical tailings • Extraction by dredging avoids traditional • Extensive drilling and test-work completed open-pit or underground mine development • JORC compliant reporting Capital-efficient scale Environment
Slide 5: Updated Ore Reserves & Mineral Resource
Updated Ore Reserves & Mineral Resource JORC Code (2012); Mineral Resources are inclusive of Ore Reserves Ore Reserve Total Mineral Resource 33.94 Mt @ 0.25% Cu 53.44 Mt @ 0.24% Cu 83,626 tonnes in-situ fine copper 127,911 tonnes in-situ fine copper +1.74 Mt / +5.4% Increase following September 2026
Slide 6: Defined Processing Concept | BFS level definition
Defined Processing Concept | BFS level definition Class 3 engineering confirms scale, process route and cost basis 1 2 3 4 5 Dredge Leach SX-EW Flotation Re-deposit Electric dredging wheel; third- Agitated acid leaching of Grade A copper cathode Copper-gold concentrate from Managed placement of part
Slide 7: Economics | Reserves base case & optimised scenarios
Economics | Reserves base case & optimised scenarios After-tax metrics; each case uses the assumptions stated in the updated CPR Case NPV10 NPV8 IRR Basis Ore Reserve US$174.3m US$195.9m 46% 33.94 Mt Ore Reserve - Base case Optimised Ore Reserve US$190.6m US$212.7m 51% Base case + US$6m CAPEX saving
Slide 8: Playa Verde | 33.94Mt Ore Reserves Base Case
Playa Verde | 33.94Mt Ore Reserves Base Case Sensitivity Analysis Initial 7-Year mine life from on-beach reserves only (expected 11- Year mine life from full Mineral Resource processing) Average annual production of ~8.6ktpa copper in cathode and concentrate, plus ~1.4kozpa payable gold by-product O
Slide 9: Capital & Operating Cost framework
Capital & Operating Cost framework US$92.8m US$2.20/lb US$6–10m Initial CAPEX, excluding VAT Base-case operating cost Potential CAPEX reduction identified CAPEX composition (US$m) Optimisation levers EPC contract 79.0 • Value engineering and competitive procurement. Indirect costs 5.8 • Long-term su
Slide 10: Advancing from engineering validation to FID
Advancing from engineering validation to FID Focus has shifted to financing execution, commercial contracting and construction readiness COMPLETE COMPLETE IN PROGRESS IN PROGRESS NEXT PLANNING CASE Class 3 engineering & cost Updated CPR & reserve Value engineering & Permitting, power, acid & Financi
Slide 11: A diversified project financing strategy
A diversified project financing strategy Objective: - Leverage project’s technical definition - Pursue solutions that are accepting of CAPEX versus NPV10 base case ratio of only ~53% - Secure a balanced structure aligned with anticipated project cash generation Senior / structured debt Offtake-linke
Slide 12: Multiple layers of project upside
Multiple layers of project upside Current Reserve case provides the foundation; further value requires additional work and approvals 1 CURRENT FOUNDATION 33.94 Mt Ore Reserve Independent CPR base case with after-tax NPV10 of US$174.3m. 2 IDENTIFIED OPTIMISATION Cost and procurement upside After-tax
Slide 13: Resource recovery & Environmental & Community purpose
Resource recovery & Environmental & Community purpose Playa Verde is designed to combine critical-mineral production with management of historical mine waste Legacy impact Historical tailings deposited at Chañaral from the project feedstock. Restoration-linked Reprocessed tailings are intended to be
Slide 14: The Investment Case
The Investment Case An advanced Chilean copper development story with visible catalysts and multiple funding pathways Advanced Updated CPR, JORC Reserve and Class 3 Compelling engineering provide a current technical and US$174.3m after-tax NPV10 and 45.6% after-tax Asset economic basis. Now on pathw
Slide 15: Appendix
Halo Minerals Plc HALO MINERALS Appendix
Slide 16: Highly experienced team
Highly experienced team | Natural resources M&A, financings, operations and growth Andrew Dennan Frank Jackson Erick Pegot-Ogier CEO CFO COO 18+ years investment professional focused on natural 50+ years corporate finance in natural resources & 16+ years executive positions South American key resour
Slide 17: Playa Verde | Project details
Playa Verde | Project details Location: Mining/Processing: BFS: ~8.6 ktpa Cu for ~7 years from 33.9 Chañaral, Atacama Region, Electric suction dredging Mt tailings reserves. Chile 13.57 km² footprint Leach + SX-EW and flotation ~900 km from Santiago Ore Reserves (BFS basis): Scale: 33.94 Mt @ 0.25%
Slide 18: Playa Verde | Reserves & Resources
Playa Verde | Reserves & Resources 33.9 Mt Ore Reserves @ 0.25% Cu (83.6 kt contained Cu) 303 drill holes & 2,612 samples East of western berm and shoreline (BRGM, Pucobre, Superex & Copper Bay) 53.44 Mt resource @ 0.24% Cu MRE, DFS & CPR prepared in accordance (127.9 kt contained Cu). with JORC Cod
Slide 19: Playa Verde | Dredging operations
Playa Verde| Dredging operations Tailings suit passive excavation: sandbank erosion (“breaching”) reduces need for cutter-assisted excavation Single-wheel electric suction dredge reclaims beach tailings - a common method used globally in mineral sands and diamond industries Breached tailings lifted
Slide 20: Playa Verde | Geology and mineralisation
Playa Verde | Geology and mineralisation Tails accumulation ceased over 40 years ago; beach & sub-sea environment weathered and winnowed by wave, chemical & wind action Significantly, much of Copper Sulphide mineralisation has oxidised, especially in upper parts of deposit, making it amenable to lea
Slide 21: Playa Verde | CAPEX; OPEX; NPV & IRR
Playa Verde | CAPEX; OPEX; NPV & IRR NPV & IRR for 33.9 Mt of Reserves (JORC 2012) Project CAPEX Requirements (US$ millions) Dredging Operation 1.8 NPV10 NPV8 IRR US$ millions US$ millions % Process Plant 9.7 Leaching Plant 32.8 Cash flow before tax 234.2 260.5 55.5 Flotation 19.8 Cash flow after ta
Slide 22: Playa Verde | Attractive Capital Intensity Relative to Peers
Playa Verde | Attractive Capital Intensity Relative to Peers* Initial development CAPEX per annual tonne of copper capacity (US$000/tpa); lower is better Playa Verde 10.1 Costa Fuego 10.5 Cactus 10.9 Marimaca Oxide 11.7 Vizcachitas 13.1 Copper Creek 15.6 BKM Stage 1 17.8 Taca Taca 20.2 Los Azules 21
Slide 23: Contacts
Contacts Halo Minerals PLC c/o Orana Corporate LLP 25 Eccleston Place London SW1W 9NF United Kingdom E: [email protected] Tavistock (Public Relations) +44 20 7920 3150 23