Announcement PDF UNLOCKING VALUE AT NIFTY COPPER COMPLEX ASYMMETRIC OPPORTUNITY FROM BROWNFIELD ASSET BASE INVESTOR PRESENTATION | MARCH 2025 www.cypriummetals.com www.cypriummetals.com THREE KEY POINTS TO TAKE AWAY Executing at speed to capitalize on asymmetric opportunity 1 Nifty, a former prolific producer currently at midlife, is a company-making asset with brownfield advantages of cost, time and scale – Early shutdown of SXEW left an above-ground heap leach resource of 12.7Mt at 0.43% Cu with added potential from unclassified materials – Closure and abandonment of high-grade underground mine left surface-mineable reserve of 83Mt at 0.9% Cu next to a 3.0Mtpa feed rate concentrator – Continued investment over time maintained key permits and left serviceable camp, airstrip, infrastructure – Two processing plants (cathode and concentrator) are fit for purpose and require refurbishment to operate 2 CYM are rapidly executing a very simple plan to bring Nifty back online – Reprocess the heap leach pads for early cash flow – Refurbish the concentrator, build new surface mine to access a 20+ year reserve – Ultimately, expand to process material from other regional prospects including Maroochydore – We are supported by best-in-class partners who are vested in our success 3 The market has radically mispriced this. CYM has a compelling risk-reward profile against all comparable valuation points – Investors were hurt during Nifty’s “midlife crisis” as its high-grade underground operations came to an end – CYM are “moving too fast” – Investors not recognizing impact of current copper market on CYM’s opportunity set The most asymmetric risk-reward to copper price on ASX? 2 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION CYPRIUM METALS SNAPSHOT (ASX: CYM) CORPORATE SUMMARY1 CYM 12MTH SHARE PRICE CHART 0.06 Share Price Market Capitalisation A$ 0.017 A$ 35.1m 0.05 0.04 0.03 Cash (pro-forma) Debt & Convertible Notes A$ 25.0m A$ 78.6m 0.02 0.01 NIFTY Enterprise Value A$ 88.7m NIFTY COPPER COMPLEX MAROOCHYDORE MAJOR SHAREHOLDERS2 Flatfooted Status Next JORC Resource JORC Reserve Development; PFS complete; Cathode Project construction 1,038,000t 83Mt @ 0.90% Cu for Concentrate Project BFS 91,000t Paradice 19.9% 8.0% Pacific Road Capital CI Global Asset Management 7.1% 5.1% Nokomis Capital 4.2% Copper of 753,000t copper in existing leach pads MAROOCHYDORE Status Deposit Total JORC Resource Higher-grade zone Exploration Large, near-surface sulphide copper 371Mt @ 0.43% Cu using a ≥0.25% Cu Cutoff for 16Mt @ 0.67% Cu using a ≥0.45% Cu Cutoff for 1,595,000t 712,000t contained Cu contained Cu 1. Trading data at 17 March 2025. Glencore senior secured debt ($44.2m) at 31 December 2024. Convertible Notes ($34.4m) at 31 December 2024. Pro-forma cash balance comprises cash at 31 December 2024 ($14.2m), placement tranche 2 receipts ($8.3m), entitlement offer receipts ($1.5m) and further deposit received for sale of surplus generators ($0.96m). Pro-forma cash is before costs incurred since 31 December 2024. 2. Major Shareholders interest at 28 February 2025. Pacific Road Capital is an affiliate of Matt Fifield who is also an insider. 3 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION PROVEN TEAM, POWERHOUSE PARTNERS New management are major shareholders and strategically aligned EXECUTIVE DIRECTORS & MANAGEMENT MATT FIFIELD LOUIS CHAIT COLIN MACKEY MANU TRIVEDI • Deep-value investor-operator with track record of company building and unlocking mispriced assets • Former CFO and Asset Manager at Glencore Copper • Seasoned mining leader with hands-on mine construction and surface mine turnaround experience • Chartered Accountant & CPA with 16 years in financial leadership. • Former MD of European Operations at Rio Tinto, Pacific procurement lead, multiple mine GM roles • Former Group Financial Controller at Masan Resources, overseeing tungsten mining operations Executive Chairman Chief Commercial Officer • Participated in 9 mine starts or restarts • Multiple turnarounds, recapitalizations and mine financings • Managing Director at Pacific Road Capital, a significant shareholder of CYM Chief Operating Officer • Responsible for restructure of operating model, commercial systems development, and execution of significant cost savings initiatives • Deep knowledge and network in copper • Mine contracting with Theiss • Significant financing experience NON-EXECUTIVE DIRECTORS STRATEGIC PARTNERS ROSS BHAPPU SCOTT PERRY GARY COMB • 35 years in mining investment & strategy, specializing in private equity • 25+ years of mining leadership with deep financial and operational expertise • 30+ years in base metal mine development & operations • Senior leader at Resource Capital Funds since 2001 • Former President & CEO of Centerra Gold, growing it into a C$3B global enterprise • Private markets fundraising ~US$4.5B • Former Board & Audit Committee Member, World Gold Council (2015–2021) • Former Chairman of Finders Resources & MD of Jabiru Metals, leading project execution & growth Non-Executive Director • Extensive board experience 4 Interim Chief Financial Officer Non-Executive Director CYPRIUM | MARCH 2025 INVESTOR PRESENTATION Non-Executive Director • Ex-CEO of BGC Contracting, overseeing large-scale mining services NIFTY IS A PROLIFIC OREBODY, CURRENTLY AT MIDLIFE 720,000 tonnes copper produced over 25 years – and at least that much more to go yet again 1995 2000 2005 2010 2015 2020 2025 WMC Discover and Build Cathode Ops Straits Expands SXEW DFS on U/G mine Hindalco / Aditya Birla Builds U/G mine and sulphide concentrator Shuts Cathode Ops Metals X CATHODE PRODUCTION = 220,000 TONNES / 485 MM LBS U/G closes as grade falls & Nifty sold CYM CONCENTRATE PRODUCTION = 500,000 TONNES / 1.1 BN LBS Abandons U/G PFS Cathode + O/P 2024 PFS: Open-pit reserve of 750,000 tonnes contained copper 5 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION ASSET-RICH BROWNFIELD SETS STAGE FOR RAPID RESTART Unique opportunity to reposition a massive resource endowment through a change of mining method 2 83Mt reserve at 0.9% Cu for 750kt contained copper remains in zone between the oxide open pit and the underground mine, adjacent existing concentrator* Underground workings 3 1 91,000 tonnes contained copper in above ground stockpiles next to SX-EW plant1 Continued investment in site maintenance and compliance over time has maintained suite of valuable permits, enabling fast redevelopment Regulator Current Status Renewal / Requirements Works Approval DWER Approved Aug-25 Native Veg. Clearing (3) DEMIRS Approved Various Mining Proposal DEMIRS Approved MOP Update Mine Closure Plan DEMIRS Approved Apr-25 Water License DWER Approved Apr-26 Permit 1. Copper contained in stockpiles accounted for by reconciliation of historical metallurgical accounting does not conform to JORC standards. A large portion of this material is deemed unclassified -- please refer to company announcement “Nifty Heap Leach Mineral Resource Estimate” dated 19 August 2024 for additional information and further JORC resource and reserve figures on the following pages. 6 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION WE ARE EXECUTING A VERY SIMPLE PLAN AT PACE 2024 saw rebuild of information from first principles to develop forward action plan 2024 Nifty: Concentrate 2025 1Q 2Q 3Q 4Q MRE Concept PFS Geotech PFS HL MRE PFS Nifty: Cathode Permits/Entitlements 1Q 2Q MAH feedback on PFS Cathode permit updates Commercial / Partnerships Glencore MAH Financial Converts and Senior Loan Sell Non-core Assets Current Workstream • Onboarding of execution partner Macmahon Key Upcoming Workstreams • Updated Cathode Restart Plan • Update existing permits for expected site activities • Construction financing incl JV selldown CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 4Q BFS FS • Finalise BFS scope for Concentrate Plan and BFS initiation 7 3Q Concentrate updates (MOP, Closure) Mining Contracts Construction Finance & JV Selldown ABOVE GROUND COPPER IS STOCKPILED IN HEAP LEACH Retreatment of existing leach pads is a low complexity, low capital path to cash flow Drill holes data completed at partial depth determined block model Metallurgical accounting: 17.2Mt material stacked contains 200 mmlbs of residual copper 12.4Mt JORC resource containing 119 mmlbs of copper and 10.6Mt JORC reserve containing 97 mmlbs of copper 4-year cathode PFS project life has potential to be significantly extended by conversion/upgrade of known additional above ground resource 8 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 1. Please refer to company announcements “Nifty Heap Leach Mineral Resource Estimate” dated 19 August 2024 and “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve” dated 25 November 2024 for additional information. SXEW PLANT CAN BE QUICKLY AND INEXPENSIVELY REBUILT Significant work to date shows low capital is required to refurbish plant for 6,000 ktpa operation PFS Project Cost Estimate Item SX Plant (“Solvent Extraction”) requires new pumps, motors, electrical and controls Heap Leach 0.3 Mechanical 6.8 Electrical 6.5 Piping 3.4 Concrete & structural 2.8 Construction overheads 1.5 SX-EW Plant 21.0 Site, roads, misc 1.4 First fills 1.3 EPCM & Commissioning 2.5 Contingency 3.4 Total Capital Cost 29.9 Partial refurbishment of Electrowinning Circuit to operate at 6,000 tpa, well below peak production of 25,000 tpa PFS project plan being updated with execution partner Macmahon 9 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION A$m 1. Please refer to company announcement “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve” dated 25 November 2024 for additional information. CATHODE PROJECT EXPECTED TO GENERATE EARLY CASH FLOW Near-term exposure to spot copper price drives large potential upside from PFS Case, rapid payback puts upside on balance sheet COPPER CATHODE PRODUCTION (KTPA) – PFS Case LOM Cu cathode production – PFS Case PRODUCTION (KT) & REVENUE (A$M) – PFS Case, PFS and Spot Pricing 24kt A$6,800/t US$2.18/lb AISC 4.2 years Project Life Development capital A$30m Capitalised operating costs A$16m 6.2 114 5.4 3.9 6.0 98 69 82 72 2.9 111 80 54 52 39 Year 1 Year 2 PFS (A$m) Year 3 Spot (A$m) Year 4 Year 5 Cu Cathode Plated (kt) PRE-TAX FREE CASH FLOW (A$M) – PFS Case, PFS and Spot Pricing 65 63 53 Includes A$46m project costs in Year 1. 28 35 43 34 29 2 (14) Year 1 PFS (A$m) Year 2 Year 3 Year 4 Access to current copper price and FX environment would have material impact on short-term corporate cash 10 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 1. PFS pricing: Cu price US$4.25 / pound; AUD:USD $0.71. 2. Spot pricing (17 March 2025): CME Group copper futures curve 2025 – 2030, LT Cu price US$5.26 / pound; AUD:USD $0.63. Spot (A$m) Year 5 CONCENTRATE OPERATIONS – PFS MINE PLAN AT PFS AND SPOT Significant positive exposure to forward copper prices PRODUCTION & REVENUE – PFS Case, PFS and Spot Pricing 1,200 44 1,000 800 33 33 11 609 589 400 44 817 695 616 444 439 45 824 817 - 600 27 38 593 499 588 500 40 733 528 39 33 32 724 614 522 360 443 38 42 42 34 21 693 587 423 42 499 766 551 774 558 776 559 13 245 177 245 177 447 395 284 40 55 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 PFS (A$m) Y10 Y11 Spot (A$m) Y12 Y13 Y14 Y15 Y16 Y17 Y18 Y19 Cu Cathode Plated (kt) Nifty’s reserve tail generates important long duration exposure to positive copper thematic = strategic 11 3 621 205 150 200 13 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 1. PFS pricing: Cu price US$4.25 / pound; AUD:USD $0.71. 2. Spot pricing (17 March 2025): CME Group copper futures curve 2025 – 2030, LT Cu price US$5.26 / pound; AUD:USD $0.63. Y20 Y21 Y22 STRONG COPPER OUTLOOK OPENS UP FUNDING OPPORTUNITIES Nifty’s advanced permitting and resulting near-term production profile, long life and low capital intensity are attractive to parties seeking copper exposure Minority Joint Venturers Strategic Finance Royalty / Stream / Prepay Asset-Infra Description • Specialised credit seeking to encourage supply chain stability and support energy transition • CYM has built in ability to sell 30% of offtake to interested parties • Long-duration revenue interest with ability to structure • Long-term tolling arrangements Participants • Government-backed lenders • End users • Royalty companies • Private funders • Specialised funds • Offtakers • Private funders • OEMs • Patient capital seeking asset exposure • Traders • Net Asset Value • • Replacement value • Market cap Pre-finance profit margin / AISC • • Ability to operate Pre-finance profit margin / AISC • Capital intensity Size drivers Benefits • Credit metrics (EBITDA multiples, LTV, Net Assets) ✓ Low borrowing costs ✓ Long-dated amortisation schedule ✓ Long-term alignment around asset • Capital intensity ✓ Few/no covenants during startup period ✓ Long-duration payback ✓ Minority interest + offtake priced closer to strategic value High current cost of CYM equity capital favours partnership and/or non-dilutive models of funding 12 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION WHERE ARE THE OTHER BIG COPPER OPPORTUNITIES? Selected recent transactions show that Australian developers and producers with scale and longevity have material strategic value DEVELOPERS MACH buys REX BFS-stage 40ktpa surface mine A$ 393m PRODUCERS Harmony buys Eva Copper Sumitomo earns in to 30% of Winu BFS-stage 40ktpa surface mine 222Mt M&I resource @ 0.45% Cu+Au US$ 230m A$ 599m 2024 2022 2024 Evolution acquires remaining Ernest Henry Cu interests ~40ktpa copper production for A$ 1.1bn Metals Acquisition Corp acquires CSA 40ktpa copper production, 15 yr life for US$ 1.1bn 2021 2022 Most of the appropriate comps to Cyprium have already been consolidated 13 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION MAROOCHYDORE REDISCOVERED Globally significant copper resource in Paterson district within haul distance to Nifty 370.8Mt @ 0.43% Cu, 227 ppm Co Inferred resources 1.595Mt contained Cu 06.3Mt @ 0.67% Cu, 308 ppm Co Higher-grade zone within inferred resource 84Kt contained Co @ 0.25% Cu cut-off 712Kt contained Cu 33Kt contained Co @ 0.45% Cu cut-off 14 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION Sedimentary copper mineralisation style Demonstrating significant continuity of mineralisation and resource scale, with similar geology to nearby Nifty Copper Complex. Higher-grade domain Will be further studied as satellite feed operation to Cyprium’s nearby Nifty mill and concentrator in the Paterson district. SUPPLEMENTARY MATERIAL 15 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION FAST TRACK TO CASH FLOW: RESTART COPPER CATHODE PRODUCTION NIFTY HEAP LEACH PADS Copper cathode production at Nifty is the first phase of mining operations. A$86m Pre-tax NPV @ 8% - Nov 24 PFS 110% Pre-tax IRR - Nov 24 PFS LOM Cu cathode production 24kt Annual Cu cathode production 6ktpa PFS assumes conservative recovery rate Low break-even recovery rate at 40% 45% AISC A$/t pay. Cu A$6,800 AISC US$/lb pay. Cu US$2.18 Development capital A$30m Capitalised operating costs A$16m SIMPLE, WELLUNDERSTOOD PROCESSING Reprocessing of existing heap leach pads NO MINING OF OXIDE IN PIT Excluded from PFS Cathode Project economics; recent cathode restarts have encountered grade management issues with oxide and transitional ores NIFTY SX-EW PLANT ADDITIONAL ORE UPSIDE Potential to increase above ground ore reserves with excluded material Low complexity plan designed to maximize speed to market and minimize capital requirements 16 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 1. PFS pricing: Cu price US$4.25 / pound; AUD:USD $0.71. Please refer to company announcement “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve” dated 25 November 2024 for additional information. LARGE VALUE DRIVER: SULPHIDE OPEN PIT AND CONCENTRATOR RESTART CHALCOPYRITE MINERALISATION NIFTY EXISTING CONCENTRATOR A$1.04B Pre-tax NPV @ 8% - Nov 24 PFS 26.3% Pre-tax IRR - Nov 24 PFS 20 years Project life 694 kt LOM production Cu Average production Cu 38.7 ktpa AISC A$/t pay. Cu A$8,158 COPPER IN CONCENTRATE PRODUCTION AISC US$/lb pay. Cu US$2.62 kt Development capital A$239m 50 Capitalised operating costs A$173m 40 Concentrate Project Ore Reserves (753Kt contained Cu) 83Mt @ 0.90% Cu for 753 kt 45 46 46 PERMITTED SITE Major permits required to commence concentrator restart are largely complete 43 41 35 34 30 44 44 39 35 35 33 28 20 22 15 10 5 - 14 12 14 3 - FY48 FY47 FY46 FY45 FY44 FY43 FY42 FY41 FY40 FY39 FY38 FY37 FY36 FY35 FY34 FY33 FY32 FY31 FY30 FY29 FY28 FY27 - FY26 FAVOURABLE GEOLOGICAL MODEL Sediment hosted copper deposits cost effective to mine relative to other deposit types. Major copper producers pursuing sediment hosted deposits 41 39 35 25 4.5MTPA REFURBISHED AND EXPANDED CONCENTRATOR Optionality to refurbish existing 3.0Mtpa concentrator for capital light path to production with expansion to 4.5Mtpa post restart 46 Material value lever that delivers >$1B pre-tax NPV (8%) 17 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 1. PFS pricing: Cu price US$4.25 / pound; AUD:USD $0.71. Please refer to company announcement “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve” dated 25 November 2024 for additional information. PROJECT INTERACTIONS CAN BE WELL MANAGED Interaction of the Cathode Project and Concentrate Project assuming simultaneous project operations Fast access to sulphide ores from oxide open pit – Oxide ores were mined from a shallow open pit, put on heap leach pads and leached – with resulting pregnant solution being sent to the SXEW for refinement and processing into copper cathodes – The open pit ended with access to sulphide copper minerals – November PFS shows rapid access from historic open pit to material that can be processed via the concentrator into concentrate for smelter market, in the order of 9 - 12 months New surface mining activity will eventually interact with the heap leach pads – As the PFS open pit advances, it is projected that surface mining operations will interact with Pads 1 - 4 around year 8 of mining – Two-thirds of the material on the heap leach is on Pads 5 - 6 – The PFS base plan is to releach Pads 5 - 6 in place and gradually strip the re-leached material to an appropriately built permanent storage pad – At some point after commencement of the Concentrate Project, materials from Pads 1 - 4 would be moved to the currently permitted Pad 7 (not shown in diagram adjacent) and retreated – New oxide ores within the PFS pit shell would also contribute to the Cathode Project. (This open-pit oxide material was not included in the Nov 2024 PFS economics) Nov 2024 PFS demonstrates that Cathode Project site interactions with Concentrate Project can be managed, allowing for simultaneous or sequential startup 18 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION 1. Please refer to company announcement “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve” dated 25 November 2024 for additional information. DISCLAIMERS AND FORWARD-LOOKING STATEMENTS 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 By reviewing or retaining these materials, or attending or participating in this Presentation, you acknowledge and represent that you have read, understood and accepted the terms of this disclaimer. This Presentation contains summary information about Cyprium, and its activities current only at the date of this Presentation. This Presentation is for information purposes only. The information in the Presentation is of a general nature only and does not purport to be complete. This Presentation should be read in conjunction with Cyprium’s most recent financial report and other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (“ASX”) which are available at www.asx.com.au and also available on Cyprium’s website at www.cypriummetals.com. Certain information in this Presentation has been sourced from Metals X Limited, the former owner of the Paterson Copper Portfolio and their representatives or associates. While steps have been taken to review that information, no representation or warranty, expressed or implied, is made as to its fairness, correctness, completeness or accuracy. Certain information in this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Cyprium nor its representatives have independently verified any such information sourced from third parties or industry or general publications. Not an offer This Presentation is for information purposes and is not, and does not purport to be, a prospectus, product disclosure statement or any other offering document under Australian law or the law of any other jurisdiction (and will not be lodged with the Australian Securities and Investments Commission (“ASIC”) or any foreign regulator). The information does not and will not constitute or form part of an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this Presentation nor anything in it shall form any part of any contract for the acquisition of Cyprium shares. The distribution of this Presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions. Not investment or financial product advice This Presentation does not constitute financial product, investment, legal, taxation, accounting or other advice and is not intended to be used or relied upon as the basis for making an investment decision. This Presentation is not a recommendation by Cyprium or its advisers to acquire Cyprium shares or New Shares. This Presentation has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek financial, legal and taxation advice appropriate to their jurisdiction. Cyprium is not licensed to provide financial product advice in respect of Cyprium shares. Effect of rounding A number of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation. Past performance Past performance information, including past share price performance of Cyprium and pro forma financial information, given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of Cyprium’s (or anyone else’s) views on Cyprium’s future financial performance or condition. Past performance of Cyprium cannot be relied upon as an indicator of (and provides no guidance as to) the future performance of Cyprium. Nothing contained in this Presentation nor any information made available to you is, or shall be relied upon as a promise, representation, warranty or guarantee, whether as to the past, present or future. Forward-looking statements This Presentation contains certain “forward-looking statements” and comments about future events, including statements regarding Cyprium’s intent, belief or current expectations with respect to the Company’s business and operations, market conditions, results of operations and financial condition, and risk management practices. The words “likely”, “expect”, “aim”, “should”, “could”, “may”, “anticipate”, “predict”, “believe”, “plan”, “estimate”, “will”, “believe”, “target” and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance outlook on, future earnings or financial position or performance are also forward-looking statements and include statements in this Presentation regarding the conduct and the future performance of Cyprium. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumption on which these statements are based. These statements may assume the success of Cyprium’s business strategies. The success of any of those strategies will be realised in the period for which the forward-looking statement may have been prepared or otherwise. Recipients of this Presentation are cautioned not to place undue reliance on forward-looking statements, and except as required by law or regulation, none of Cyprium, its representatives or advisers assumes any obligation to update these forward-looking statements. No representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in this Presentation. The forward-looking statements are based on information available to Cyprium as at the date of this Presentation. Except as required by law or regulation (including the ASX Listing Rules), none of Cyprium, its representatives or advisers undertakes any obligation to provide any additional or updated information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Cautionary Statements and Competent Person Statement This document contains information from the Nifty Copper Complex - Pre-feasibility Study (PFS) which was released on 27 November 2024. Please refer to the cautionary statements in that document in detail. The information in the Pre-feasibility Study is supported by a Competent Person Statement, please refer to the ASX release dated 27 November 2024 for further details. References to Mineral Resources, Ore Reserves and PFS The information in this announcement that relates to Mineral Resources for Nifty and Maroochydore was previously reported by the Company in announcements made in March, August and November 2024 (Nifty) and February 2025 (Maroochydore). The Company confirms that it is not aware of any new information or data that materially affects the information included in those market announcements and, in the case of Mineral Resources and PFS, all material assumptions and technical parameters underpinning the estimates 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 been materially modified from the original market announcement. 19 CYPRIUM | MARCH 2025 INVESTOR PRESENTATION CONTACT Matt Fifield Executive Chairman Dannika Warburton Investor and Media Relations E: communications@cypriummetals.com Registered Office Level 1, 437 Roberts Road Subiaco WA 6008 Australia Telephone +61 8 6374 1550 www.cypriummetals.com