Announcement PDF ASX ANNOUNCEMENT 29 OCTOBER 2024 SEPTEMBER 2024 QUARTERLY ACTIVITIES REPORT Cyprium Metals is pleased to present its activities report for the quarter ended 30 September 2024. Highlights included: • • • • Balance sheet maturities extended and refinanced: – US$27.3 million Loan Facility with Glencore closed and fully drawn, repaying previous Senior Debt Facility – Metals X Convertible Note amended, extending redemption date by 3 years, pending shareholder approval – $20.6 million of cash on hand at end of quarter Significant progress on redevelopment plans for Nifty Complex: – Re-optimisation for PFS on Nifty new surface mine expected to reduce strip ratio and preserve SXEW infrastructure – Release of Nifty Heap Leach Mineral Resource Estimate. Indicated and inferred MRE of 12.7 million tonnes grading 0.43% Cu for contained copper of 54,050 tonnes Offtake agreements with Glencore executed – Integration with Glencore’s downstream processing allows for end-to-end production of copper within Australia – Cyprium maintains ability to joint venture with additional strategic parties at Nifty for up to 30% of ownership and offtake Strategic review of development portfolio: – Company now exploring strategic options for Murchison portfolio “We continue to deliver positive outcomes for our shareholders,” said Cyprium Executive Chair Matt Fifield. “Last quarter, our primary commercial focus was to repair and extend our short-term balance sheet maturities. Having refinanced our senior debt with Glencore and amended our convertible note with Metals X, we now have a clear pathway to focus on advancing the redevelopment of the Nifty copper complex in Western Australia.” “Our commercial partnership with Glencore that solidified in the quarter also have materially enabled our broader strategic plan,” detailed Fifield. “First, with our strategic commercial partnership Cyprium has prioritised the potential for Nifty’s concentrate to be processed in ABN 48 002 678 640 T +61 8 6374 1550 ASX: CYM OTCQB: CYPMF Level 1, 437 Roberts Road Subiaco, WA, 6008 www.cypriummetals.com Australia. This ensures the best of provenance for discerning copper consumers that are seeking supply chain stability. Second, within our senior loan and offtake facilities Cyprium has retained the ability to offer up to 30% of offtake and ownership of the Nifty copper complex to strategic investors and copper consumers subject to certain terms and conditions.” “These are important strategic terms for Cyprium given the tightness of the current copper market and the broad strategic push by copper consumers for supply chain stability and assurance around ESG characteristics. We expect this will be important strategically and as an important funding mechanism for the Company as we move Nifty rapidly through its development stages towards production,” said Fifield. “On the technical front, we also had an important quarter. First, Cyprium published a mineral resource estimate for stockpiled materials that can be reprocessed to produce cathode, increasing our technical confidence in the plan. Second, as we upgraded our technical work to reflect the PFS-level geotechnical information, it became clear that the cathode plant infrastructure would not be immediately impacted by a reactivation of the concentrator and accompanying new surface mining activity. This was material new information that we released to shareholders. Previously we believed the cathode operation would be heavily impacted by a reactivation of the concentrator and any new surface mine, requiring significant capital to operate both at the same time or constraining the life of the cathode operation.” “We are now deep into our planning work to support the PFS,” Fifield said. “This is our next important milestone as completing site-wide plans for the Nifty copper complex at PFS-level of confidence unlocks a number of other work streams to bring this complex back online.” “Finally, while executing on the commercial and technical fronts as described above, we have also reviewed the Company’s capital allocation priorities. As announced yesterday, we have decided to explore divestment opportunities for our Murchison portfolio. These are good earlier-stage copper opportunities with advanced defined resources, and they will be challenged to compete for capital at Cyprium with our more advanced opportunities in the Paterson. Having received multiple inquiries from parties looking for earlier stage resources, we believe that there is a better home for these properties and have engaged Canaccord to help us review strategic options.” Glencore Strategic Commercial Partnership: Senior Secured Loan Facility & Offtake In July, Cyprium announced a commercial strategic partnership with Glencore International AG (Glencore) to accelerate the resumption of copper production from the Nifty copper complex. This partnership was formalised in September as the USD 27.3 million Senior Secured Loan Facility closed and offtake agreements for copper cathode and copper concentrates were executed. The drawdown of the loan facility refinanced prior senior secured loan facility and has provided working capital to advance Nifty early works, fund feasibility studies and general corporate expenditures. Cyprium has retained the ability to sell up to 30% direct ownership interests in the Nifty copper complex, and to offer such minority investors pro rata physical offtake with purchased ownership, subject to certain terms and conditions. Cyprium Metals (ASX:CYM) Page 2 Highlights of the strategic partnership and offtake agreements executed with Glencore include: – Executed concentrate offtake term sheet for the sale of the copper concentrate production from the new surface mine at Nifty, over a ten-year term, thereafter mutually extendable. – Executed cathode offtake term sheet to sell Nifty’s cathode products to Glencore, over a ten-year term, thereafter mutually extendable. – Offtake contract adds resilience to restart cathode production through acceptance of off-spec cathode materials at Glencore’s refinery in Townsville, Queensland. – Glencore to make all reasonable efforts to consider delivering Nifty concentrates to its Mt Isa Smelter – Cyprium to enter into sulphuric acid supply agreement with Glencore on commercial terms. – Glencore Technology to provide technical support to Cyprium. Cyprium refers investors to the ASX announcements released on 26 July 2024 and 30 September 2024 for further details. Metals X Convertible Note Amendment During the quarter, Cyprium announced the amendment to the terms of its unsecured convertible notes with Metals X Limited via a binding term sheet. Varied terms are as below: – Convertible Note redemption date extended three years from original redemption date of 31 March 2025 to 31 March 2028. – $5 million amendment fee payable in two equal instalments of $2.5 million; first instalment payable immediately and the second instalment at the earlier of Cyprium’s next capital raise or 31 December 2024. – Annual interest rate adjusted to 6% per year, payable in cash semi-annually. – Conversion price will be amended to a 25% premium to the share price at which Cyprium next raises equity capital (Conversion Price). – Convertible Notes can be redeemed early at Cyprium’s option through payment of 115% of face value. In the event of an early redemption Metals X can, at its sole option, elect to take a maximum of 200 million Cyprium shares at the Conversion Price rather than receiving cash consideration, with the balance to be paid in cash. – Convertible Notes mature on the redemption date, where Metals X will either be paid in cash or Metals X may elect to redeem the Convertible Notes for shares, calculated at the Conversion Price – Cyprium will issue Metals X 40.6 million options, with a two-year expiry and an exercise price equal to the Conversion Price. Cyprium Metals (ASX:CYM) Page 3 – Cyprium shareholder approval required for the issue of options and all shares underlying the amended terms of the Convertible Notes, to be sought at the next meeting of shareholders. “Amendment of the convertible notes remains essential for the Company,” said Fifield. “These convertible notes relate to the original purchase of Nifty by Cyprium and were originally scheduled for redemption in March 2025. We thank Metals X for their continued support of the Company – without extended timeline that these amendments provided the Company, we do not believe we would have been able to execute on our strategy the way we have across the quarter.” Cyprium refers shareholders to the ASX announcement released on 22 August 2024 for further details. New Surface Mine Re-Optimisation Significantly Reduces Strip Ratio During the quarter, Cyprium provided an update relating to its previously released Scoping Study for the new surface mine at Nifty. Cyprium’s technical partner MEC Mining (MEC) completed an updated geotechnical study to advance Cyprium’s knowledge of the expected mining conditions to a Pre-Feasibility level of confidence. Following a peer review, this updated geotechnical information has now been incorporated in a new mine optimisation as a part of the forthcoming Pre-Feasibility Study (PFS). The mine re-optimisation has resulted in significantly more favourable strip ratios, and through reduction in footprint, preserved the life of the existing cathode plant (refer Figures 1 & 2). – – – Reduction in strip ratio by 25% to 7.3:1 from previous estimate of 9.7:1 in May 2024 Scoping Study, based on lower waste movements and the potential for additional sulphide and transitional material to be concentrator feed New pit shell preserves SXEW infrastructure over the expected life of heap leach operations Overall pit strip ratio of 6.3:1 when potential oxide, transitional and sulphide material are taken into consideration Cyprium Metals (ASX:CYM) Page 4 Figure 1 – Optimiser Pit Phases Cross-Section and Scoping Pit Design Figure 2 - Comparison of Surface Mine and Heap Leach Interactions Cyprium Metals (ASX:CYM) Page 5 “The updated mine optimisation is a material development for Cyprium and is a result of following a thoughtful mine development sequence from end-to-end,” said Fifield. “A number of expected positive outcomes: reduced footprint, and importantly the ability to continue to generate revenue from the cathode plant throughout the life of the surface mine. We are incorporating these wins into our restart planning and PFS work now.” Nifty Heap Leach Mineral Resource Estimate In the September quarter, the Company announced the 2024 Mineral Resource Estimate (MRE) for the existing above-surface material stacked on the heap leach pads at the Nifty. The 2024 Heap Leach MRE is the first update since 2015 and incorporates new drill data and metallurgical data from a 2021 sonic drill program. Highlights include: – Indicated and Inferred Mineral Resource Estimate of 12.7 million tonnes grading 0.43% Cu for contained copper of 54,050 tonnes. – 2021 sonic drill campaign incorporated into drill database. – Potential for further upside as drill data does not extend to the bottom of the material on the heap leach pads. Table 1 - 2024 Nifty Heap Leach Mineral Resource Estimate by Resource Category Resource Density Cu Cu tonnes (ppm) (t) 10,636,950 4,100 43,580 80.6% 1.70 2,038,350 5,140 10,470 19.4% 1.70 12,675,300 4,260 54,050 100.0% Source Volume (m3) Indicated Stockpile from 6,253,350 1.70 Inferred drilling 1,198,330 7,451,680 Category TOTAL (t/m ) 3 Tonnes (t) % Metal Notes: zero Cu ppm cutoff grade, no top cut applied, numbers are rounded and may not add Figure 3 shows the MRE block model in cross section. Red and green areas correspond to the drilled Indicated & Inferred resource. Blue areas correspond to the unsampled material. Figure 3 – Nifty Heap Leach 2024 MRE Classifications (section view) Cyprium Metals (ASX:CYM) Page 6 This estimation of the JORC resource, using drilled intercepts only, is likely to significantly understate the amount of metal contained in the material on the heap leach pads as the drill holes stopped an estimated depth of between 3 and 4 meters above the heap leach pad lining to protect the integrity of the heap leach pad and liner. Therefore, a reasonable volume of material has been excluded from the resource calculation which was reliant on drill data. Cyprium believes the best estimate of copper contained in the entire heap leach stockpile (e.g. inclusive of unsampled material) is obtained through reconciling metallurgical accounting records from prior operations. Experts from Cyprium and MEC reviewed the historical records and accounting approach and believe that this a reasonable estimation methodology and appropriate for inclusion in calculating total copper in the heap leach stockpile. Based on reconciliation metallurgical accounting Cyprium estimates a total of 91,140 tonnes to be contained on the heap leach pads at Nifty. “The MRE was an important step in getting organised,” Fifield said. “The potential for recovering additional copper from the previously mined material has been looked at in various forms from 2007 to today. This MRE allowed us to have a better handle on the stockpiles before going into site-wide planning around the PFS.” Assessing Strategic Options for Murchison Assets During the September quarter Cyprium management performed a review across its portfolio assets to prioritise and optimise allocation of capital. At the conclusion of this review and as announced on 28 October, the Company’s Murchison assets were determined to be non-core, and the Company initiated a strategic review of the Company’s portfolio of copper projects located in the Murchison Region of Western Australia which includes the Cue and Meekatharra projects. The Murchison assets comprise an 80% joint-venture interest in non-gold mineralisation at the Cue Copper-Gold Project and a 100% interest in the Meekatharra Project. The strategic review will explore various strategic options for the project including the possibility of a de-merger and standalone listing, outright sale, forming joint ventures / strategic partnerships or continuing to hold and progress the asset in the current structure. Cyprium remains open to all options around crystalising value from the Murchison assets. Canaccord Genuity (Australia) Limited has been appointed as financial adviser to assist the Board with respect to the Strategic Review process and shareholders will be updated upon conclusion of the process. Cyprium Metals (ASX:CYM) Page 7 Operating Expenses Cyprium’s Nifty property is being maintained as an active mining site under its Western Australian permits and in accordance with regulatory requirements. The maintenance of this status allow the Company to move quickly into operations, and results in higher expense levels than might occur under a care and maintenance program. Total operating expenses in the quarter included $1.4 million on site and Perth-based personnel and $2.4 million on corporate costs that include certain Nifty site costs. Investing activities were $1.7 million on property, plant, and equipment and $0.8 million on exploration. Cash and Liquidity As of the end of the quarter, the Company had $20.6 million of cash on hand. The balance is after fully drawn loan facility from Glencore and after repayment of senior secured debt to Nebari. Payment of $74K reported in item 6.1 of the attached Appendix 5B relate to payments to Executive Chair and Non-Executive Directors. Capital Structure The capital structure table below reflects the capital structure as of 30 September 2024. The capital structure table below reflects does not include the amended terms of the Metals X Convertible Notes as described in the ASX announcement released on 22 August 2024, for which Shareholder approval is expected to be sought at the upcoming Annual General Meeting in November 2024. If Shareholder approval is obtained, this will result in amended Convertible Notes and issue of new options to Metals X. Further details of the possible dilutionary impact will be set out in the Notice of Annual General Meeting. Table 4 – Capital Structure as of 30 September 2024 SECURITY EXERCISE PRICE MATURITY DATE Fully Paid Ordinary Shares NUMBER 1,525,962,325 Performance Rights Variable Variable 78,592,228 Options $0.06 31 Dec 24 423,860,979 Warrants $0.048 30 June 25 80,238,290 Total (Fully Diluted) Convertible Notes (As Equity) * 2,108,653,822 $0.3551 30 Mar 25 101,373,777 *Note: These relate to the original convertible notes held by Metals X, which will be subject to amendments as per the ASX announcement released on 22 August 2024. Cyprium Metals (ASX:CYM) Page 8 Further Details on Annual Report disclosure As requested by ASX, the Company provides the following additional information with respect to the termination benefit paid to Clive Donner, former Managing Director of the Company. Mr. Donner’s employment contract was terminated by mutual consent and not for a bad leaver reason. In accordance with Mr Donner’s contract, Mr. Donner was paid 9 months’ salary ($337,500) annual leave entitlement ($15,153), long service leave entitlement ($8,654) and an ex-gratia payment of $220K. Announcements in Quarter The Company encourage shareholders to find more information on cypriummetals.com/investor-centre. This Quarterly Activities Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“JORC Code, 2012”). Further details (including JORC Code reporting tables where applicable) of exploration results and technical information referred to in this Quarterly Activities Report can be found in the following announcements lodged on the ASX: • • • • • • • • • • • • • • • • • 30 Sep 2024 30 Sep 2024 30 Sep 2024 25 Sep 2024 12 Sep 2024 9 Sep 2024 30 Aug 2024 22 Aug 2024 22 Aug 2024 19 Aug 2024 8 Aug 2024 31 Jul 2024 31 Jul 2024 26 Jul 2024 17 Jul 2024 10 Jul 2024 9 Jul 2024 Appendix 4G and Corporate Governance Statement Annual Report to Shareholders Glencore Loan Facility Closed and Offtakes Executed Notification of cessation of securities - CYM Updated Announcement and Retraction Re-optimisation of Nifty New Surface Mine $40m Senior Secured Loan Facility with Glencore Convertible Note Amendment MLX: Update on Cyprium Convertible Notes Nifty Heap Leach Mineral Resource Estimate Investor Presentation Shareholder Update Webinar Notification Quarterly Activities/Appendix 5B Cash Flow Report CYM and Glencore Announce Commercial Strategic Partnership Noosa Conference Presentation Change of Director's Interest Notice Application for quotation of securities – CYM Cyprium Metals (ASX:CYM) Page 9 Tenement Information Tenement Cyprium has an 80% joint venture interest in the Cue Copper-Gold project’s copper, gold and silver mineralisation however Ramelius Resources Limited (ASX Code: RMS) has a 100% interest in primary gold deposits that are not associated with copper-gold deposits, for the following tenements at the Cue Copper Project, WA: L20/90, M20/225, M20/245, M20/277, M20/526, E20/606, E20/608, E20/616, E20/629, E20/630, E20/659, E20/698, E20/700, E20/836 and P20/2279 Cyprium has a 100% interest in the Nanadie Well Copper-Gold Project, WA, which comprises the following tenements: M51/887, E51/1040, E51/1987 and L51/124 Cyprium has a 100% interest in the Paterson Copper Project (Nifty Copper Mine and Maroochydore Copper Project), WA, which comprises the following tenements: E45/1018, E45/1840, E45/1841, E45/3011, E45/4318, M45/314, M45/315, M45/317, M45/318, M45/492, P45/3055, P45/3177, P45/3150, P45/3151, L45/102, L45/128, L45/143, L45/148, L45/74, L45/91, M271SA, E45/4319, E45/5705, E45/6263, M45/752, M45/753, M45/754, M45/711, M45/712, M45/713, M45/745 and M45/746 Cyprium has a 100% interest in the Paterson Exploration Project, WA (IGO earning up to 70%), which comprises the following tenements: E45/1839, E45/2280, E45/2415, E45/2771, E45/2772, E45/2773, P45/2792, P45/2793, P45/2794, P45/2801, P45/2802, P45/2803, P45/2804, P45/2805, P45/2806, P45/2807, P45/2808, E45/3573, E45/3574, E45/3575, E45/3576, E45/3577, E45/4151, E45/4205, E45/4234, E45/4862, E45/5199, E45/5300, M45/1109, M45/1110, M45/1111, M45/1112, M45/1113 and M45/1114 Location Murchison region, WA Interest 80% Murchison region, WA 100% Paterson Province, WA 100% Paterson Province, WA 100% Maroochydore P45/2924 and P45/2927 were merged into adjacent tenements E45/1841 and E45/1840 (respectively) during the quarter. No other changes to the company’s tenement holdings were made during the quarter. This ASX announcement was approved and authorised by the Board of Cyprium Metals Limited. Further information: Matt Fifield Manu Trivedi Executive Chair Chief Financial Officer, Interim matt.fifield@cypriummetals.com manu.trivedi@cypriummetals.com T +61 8 6374 1550 E communications@cypriummetals.com Cyprium Metals (ASX:CYM) Page 10 About Cyprium Metals Limited Cyprium Metals Limited (ASX: CYM) is an ASX-listed Australian copper company. Its flagship property is the Nifty Copper Mine in Western Australia, which previously produced significant copper from both oxide and sulphide resources. Cyprium is focused on redeveloping Nifty, which has the advantage of significant invested capital, data from a long operating history, large-scale resources, current operational approvals, and recent investment in the property. The Company’s other assets include significant copper-focused properties in the Paterson and Murchison Provinces, including multiple defined resources. Visit www.cypriummetals.com for further information. Competent Person Statement The information in this report that relates to estimation and reporting of Mineral Resource Estimates is an accurate representation of the available data and is based on information compiled by external consultants and Mr. Peter van Luyt who is a member of the Australian Institute of Geoscientists (2582). Mr. van Luyt is the General Manager – Geology and Exploration for Cyprium Metals Limited, in which he is also a shareholder. Mr. van Luyt has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (CP). Mr. van Luyt consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to the updated new Nifty surface mine optimisation is based on information compiled by Christofer Catania, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Christofer Catania is employed by MEC Mining Group Pty Ltd as a consultant for Cyprium Metals Ltd. Christofer Catania has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Christofer Catania consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. Cyprium confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, which all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially changed from the original market announcement. Cyprium Metals (ASX:CYM) Page 11 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity CYPRIUM METALS LIMITED ABN Quarter ended (“current quarter”) 48 002 678 640 30 SEPTEMBER 2024 Consolidated statement of cash flows 1 1.1 1.2 Current quarter Year to date $A’000 $A’000 1.3 1.4 1.5 1.6 1.7 1.8 Cash flows from operating activities Receipts from customers Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs Dividends received (see note 3) Interest received Interest and other costs of finance paid Income taxes paid Government grants and tax incentives Other (provide details if material) (1,425) (2,356) 40 (825) - (1,425) (2,356) 40 (825) - 1.9 Net cash from / (used in) operating activities (4,566) (4,566) (1,660) (765) - (1,660) (765) - 2 Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 2.2 2.3 2.4 2.5 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) other non-current assets Cash flows from loans to other entities Dividends received (see note 3) Other (provide details if material) 2.6 Net cash from / (used in) investing activities 3 Current $A’000 Year to date $A’000 87 - 87 - (2,338) (2,338) - - - - Cash flows from financing activities - - 3.5 3.6 3.7 3.8 3.9 Proceeds from issues of equity securities (excluding convertible debt securities) Proceeds from issue of convertible debt securities Proceeds from exercise of options Transaction costs related to issues of equity securities or convertible debt securities Proceeds from borrowings Repayment of borrowings Transaction costs related to loans and borrowings Dividends paid Other (Convertible note amendment fee) 45,247 (21,875) (664) (2,500) 45,247 (21,875) (664) (2,500) 3.1 Net cash from / (used in) financing activities 20,208 20,208 4 Net increase / (decrease) in cash and cash equivalents for the period 13,304 13,304 7,311 7,311 (4,566) (4,566) (2,338) (2,338) 20,208 20,208 Current quarter Year to date $A’000 $A’000 (23) (23) 20,592 20,592 3.1 3.2 3.3 3.4 4.1 4.2 4.3 4.4 Cash and cash equivalents at beginning of period Net cash from / (used in) operating activities (item 1.9 above) Net cash from / (used in) investing activities (item 2.6 above) Net cash from / (used in) financing activities (item 3.10 above) Consolidated statement of cash flows 4.5 4.6 Effect of movement in exchange rates on cash held Cash and cash equivalents at end of period ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 5 Reconciliation of cash and cash equivalents Current quarter Previous quarter at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts $A’000 $A’000 5.1 Bank balances 20,592 4,547 5.2 Call deposits - 2,764 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 20,592 7,311 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 6 Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 1 74 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Current quarter $A'000 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. 7.1 Loan facilities 7.2 Total facility amount at quarterend $A’000 Amount drawn at quarter end $A’000 39,387 39,387 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities 39,387 39,387 7.5 Unused financing facilities available at quarter end 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Funded Amount: USD 27,300,000 Facility Term: 4 years following the first drawdown Coupon: 3M Term SOFR + a market-based fixed margin. paid quarterly Repayment Holiday: 24 months following first drawdown Security: Over the assets of Cyprium, subject to certain Carve Outs ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. 0 Page 3 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 8 Estimated cash available for future operating activities $A’000 8.1 (4,566) 8.3 8.4 8.5 8.6 Net cash from / (used in) operating activities (item 1.9) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) Total relevant outgoings (item 8.1 + item 8.2) Cash and cash equivalents at quarter end (item 4.6)