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BUILDING AUSTRALIA'S NEXT
GREAT COPPER COMPANY
www.cypriummetals.com
INVESTOR PRESENTATION | OCTOBER 2026
NEAR TERM CATHODE PRODUCER
Not for distribution to US wire services or release in the United States
2
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
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 only 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 is restricted by law and you should observe any such restrictions, including those set forth in the
“International Offer Restrictions” section of this Presentation. Any failure to comply with such restrictions could constitute a violation of applicable securities laws. This Presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United
States or any jurisdiction in which such an offer would be illegal. The securities described in this Presentation have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state or other jurisdiction of the United States. Accordingly, the
securities described in this Presentation may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
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 document contains statements and comments about future events, including in relation to Cyprium’s business, plans and strategies, and expected events and trends in the industry in which Cyprium operates. Such statements and comments are commonly referred to as
forward-looking statements. Forward-looking statements can generally be identified by the use of words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “intend”, “likely”, “may”, “outlook”, “plan”, “predict”, “propose”, “should”, “target”, and “will”, and
other similar expressions. Indications of, and guidance and outlook commentary regarding, future earnings, financial performance and operating performance are also forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve inherent risks, assumptions and uncertainties, both general and specific, and there is a risk that forward-looking statements will not be achieved.
A number of important factors may result in Cyprium’s actual results and performance differing (including materially) from the plans, objectives, estimates, targets and intentions expressed in forward-looking statements, and many of these factors are beyond the control of Cyprium,
its directors and management. Statements or assumptions in this document may prove to be incorrect, and circumstances may change, and the contents of this document may become outdated as a result. This may include statements about market and industry trends which are
based on subjective interpretations of prevailing market conditions.
Unless otherwise stated, statements in this document regarding the Company’s plans reflect the Company’s plans at the time of writing, which plans remain subject to one or more of changes as a result of ongoing technical work, regulatory approvals, securing funding
requirements and Board approval.
Forward-looking statements in this document are based on Cyprium’s good faith assumptions as to the financial, market, regulatory and other relevant conditions that will exist and affect Cyprium’s business and operations in the future. Cyprium does not give any assurance that
these assumptions will prove to be correct. There could be other factors that may cause actual results, conditions or events not to be as anticipated, many of which are beyond Cyprium’s reasonable control. Forward-looking statements in this document speak only as at the date of
this document and, expect where required by applicable law, Cyprium does not intend to update or revise any forward-looking statements, nor to publish forward-looking statements in the future, regardless of whether new information, future events or other factors affect the
information contained in this document.
Nothing in this document is, or is intended to be, a promise or representation as to the future, and past performance is not a guarantee of future performance. None of Cyprium, its directors or management make any representation or warranty as to the accuracy of any forward-
looking statements in this document.
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
3
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).
Readers should refer to the Nifty PFS for detailed information regarding the study and study outcomes, including cautionary statements; Mineral Resources and Ore Reserves estimates (including competent person statements and JORC Code disclosures); and
technical and financial assumptions underpinning the economic evaluation in the Nifty PFS.
Mineral Resources and Ore Reserves Cautionary Statements and Competent Person Statement
Cyprium’s Mineral Resources and Ore Reserves estimates have been prepared and are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (the ‘JORC Code’). References to Mineral
Resources and Ore Reserves estimates in this document are references to Cyprium’s current estimates, summarised below:
Cyprium’s current Mineral Resources and Ore Reserves estimates are set out on slide 30. Competent Person’s statements and JORC Code Table 1 disclosures are published with Cyprium’s reported Mineral Resources and Ore Reserves estimates (refer reporting dates above).
JORC Code differs from reporting requirements in other countries
It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the JORC Code. Investors outside Australia should note that while ore reserve and mineral resource estimates of the Company in this Presentation comply
with the JORC Code, they may not comply with the relevant guidelines in other countries and, in particular, do not comply with (i) National Instrument 43 101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators or (ii) Item 1300 of Regulation S-
K, which governs disclosure of mineral reserves in registration statements filed with the US Securities and Exchange Commission. Information contained in this Presentation describing mineral deposits may not be comparable to similar information made public by companies
subject to the reporting and disclosure requirements of other countries. You should not assume that quantities reported as “resources” in this Presentation will be converted to reserves under the JORC Code or any other reporting regime or that the Company will be able to legally
and economically extract them.
Estimate Estimate Date1 Release Title
Mineral Resources
Nifty 14 March 2024 “Updated Nifty Mineral Resource Estimate Reaches 1 Million Tonnes Contained Copper”
Nifty Heap Leach 19 August 2024 “Nifty Heap Leach Mineral Resource Estimate”
Maroochydore (Copper) 5 February 2025
“Updated Maroochydore Copper-Cobalt Resource Demonstrates Large Copper Sulphide System with 1.6Mt Contained Copper”
Maroochydore (Cobalt)2 5 February 2025
Ore Reserves
Nifty (Concentrate Project) 27 November 2024 “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve”
Nifty Heap Leach (Cathode Project) 27 November 2024 “Nifty PFS Confirms $1,129m Pre-Tax NPV and 797kt Ore Reserve”
1. Date reported and released to the ASX announcements platform.
2. The Maroochydore cobalt Mineral Resources estimate is a subset of the Maroochydore copper Mineral Resources estimate.
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
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CYPRIUM METALS: TRANSITIONING TO COPPER PRODUCER,
DEFINING FUTURE GROWTH PLANS
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
1. Phase 1 Cathode Restart. Refer to important information regarding the Nifty PFS on slide 3.
Heap leach mine plan has been de-risked through successful commissioning activities ahead of
cathode production
Major milestone of first copper cathode imminent and on track for Q4 CY2026 as SXEW plant
commissions
Cyprium’s Nifty Copper Complex is a brownfield copper redevelopment entering into production
DFS underway to demonstrate next stages of growth from cathode expansion and long-life open
pit and concentrator operations
Cyprium is securing funding now to accelerate the next phase of growth
INVESTMENT HIGHLIGHTS
Commissioning 6,000 tpa of cathode production to capitalise on strong copper prices1
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CYPRIUM METALS OVERVIEW
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
6
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
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
CATHODE PLANT
Up to 25ktpa installed SX-EW
cathode capacity
CONCENTRATOR
2.8Mtpa milling and ~50ktpa Cu-in-
conc flotation capacity
~75ktpa
Total installed Cu cathode and Cu-in-conc production capacity
INSTALLED PRODUCTION CAPACITY 1
EXISTING HEAPS
Existing heap leach material contains
+90kt Cu
OPEN PIT
21Mt @ 0.78% for 162kt Cu Oxide &
Transitional Resources
83Mt @ 0.90% for 750kt Cu
Sulphide Reserves2
+1Mt cont. Cu
Total Nifty Mineral Resources2
DEFINED RESOURCES
Cyprium’s asset base enables rapid copper growth
1. Production capacity cited is actual historic production rates achieved prior to Nifty being placed in care and maintenance.
2. Cyprium Mineral Resources and Ore Reserves estimates cited. Refer to important information regarding Mineral Resources and Ore Reserves estimates on slide 3 of this presentation.
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SIMPLE STAGED PLAN BUILDS OFF BROWNFIELD INFRASTRUCTURE
Maximising advantage of existing infrastructure, resources and permits to bring copper units to market quickly
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Processing
Plant
Source of
Feed
Refurb SX-EW B Train
and reprocess
existing heap leach
pads
Refurb SXEW A Train
to expand capacity to
nameplate capacity
Build Pad 7
Mine open pit oxides
Refurbish and restart
concentrator at existing 2.8Mtpa
milling capacity to process open-
pit sulphides
Expand milling
capacity to 4.5Mtpa to
match existing float
plant capacity
PFS defined
+20 mine life
Existing Heap Leach
Existing Heap Leach
Open Pit Oxides
New Oxide Sources
All Oxide Feeds
Sulphide open pit
All Oxide Feeds
Sulphide open pit
B Train ≈ 6ktpa
B Train + A Train
≈ 20ktpa1
B Train + A Train
≈ 20ktpa1
B Train + A Train
≈ 20ktpa1
Oxides (Cathode) Sulphides (Ore)
Illustrative Refurbished Processing Capacity1
PHASE 1
Cathode Restart
PHASE 2
Cathode Expansion
PHASE 3A
Sulphide Operations
PHASE 3B
Sulphide Expansion
~2.8 Mtpa2
~4.5 Mtpa2
PHASE 1 RESTART
IN COMMISSIONING
Note, refer to the Nifty PFS for further information regarding the Nifty Restart projects. Important information regarding the Nifty PFS is included on slide 3 of this presentation.
(1) Cyprium is progressing internal studies on further refurbishment and expansion of the existing SX-EW plant, designed to provide approximately 20,000tpa of installed cathode production capacity. This represents potential installed plant capacity, not a
production target. Actual production is subject to a number of variables, including available feed, grade, metallurgical recovery, plant availability and other operating factors. Refer to important information regarding forward looking statements on slide 2 of
this presentation. (2) Cyprium plans to progress refurbishment and expansion of the existing concentrator to provide up to 4.5 Mtpa of installed concentrator capacity. This represents potential installed concentrator capacity, not a production target. Actual
production is subject to a number of variables, including available feed, grade, metallurgical recovery, plant availability and other operating factors. Refer to important information regarding forward looking statements on slide 2 of this presentation.
Delivering DFS incorporating Phase 2 & 3 - targeting H1 CY2027
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PHASE 1 CATHODE PRODUCTION
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
9
FINAL STAGES OF TRANSITION TO OPERATIONS
Heap leach operations in commissioning; SXEW plant in final weeks before commissioning
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
First copper cathode imminent and on track for Q4 CY2026
Direct injection leaching program achieving targeted rates quickly
Commissioning has demonstrated achievement of solution flow rates and leach chemistry in line
with targets; continued ramp towards production milestones as operational footprint expands
Near-term mine plan is established
Production wellfield drilled for commercial operations covering the next 6-8 months of leaching
activity; grade drilling confirms understanding of block model
SXEW refurbishment now in final weeks before commissioning
Preparation for plant energisation and wet commissioning underway
Regulatory approvals complete
All regulatory approvals required to support the Phase 1 Cathode Restart project are in place
Strong safety record
Zero lost time injuries (LTIs) to date from start of construction
Material derisking of future operations through delivery of commissioning
milestones
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PHASE 1: RESTART OF HEAP LEACH OPERATIONS1
Recovery of existing copper through direct injection leaching to produce copper cathode through refurbished SXEW plant
Target production 6,000 tpa cathode into strong copper market3
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026 (1) Refer to company announcement “Heap Leach Commissioning Update” released to the ASX announcements platform on 9 October 2026. (2) Phase 1 refurbished components highlighted. (3)
Phase 1 Cathode Restart. Refer to important information regarding the Nifty PFS on slide 3.
Solvent extraction plant2
Electrowinning plant2
Production Area on Existing Heap Leach Pads
Solution ponds
Production well field Injection well
B Train & Shared
Components
In Refurbishment
11
DIRECT INJECTION LEACH MINE PLAN BEING DELIVERED1
Rapid achievement of commissioning milestones supporting targeted copper production
Near term mine plan infrastructure established
Heap leach operations are now moving from commissioning towards production growth
Heaps are leaching as expected - the observed acid consumption and copper-
to-acid ratio are in line with or better than the Company’s modelled
assumptions
Confirmed well design and ability for existing heaps to accept injected solution
at commercial flow rates
Injection leach volumes in line with target and forecast
leach chemistry reached quickly during commissioning
1.7Mt of material now accessible via production wellfield drilled for
commercial operations. Expected to support 6-8 months of leaching activity
Grade control drilling confirms existing resource block model within +/- 5%
All necessary infrastructure to support leaching operations from ILS and PLS
ponds has been constructed and is in commissioning
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
1. Refer to ASX announcement “Heap Leach Commissioning Update” released to the ASX announcements platform on 9 October 2026.
12
STAGED EXPANSION OF COPPER PRODUCTION
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
13
PHASE 2: CATHODE EXPANSION THROUGH OPEN PIT RESTART
Restoring SXEW to +20,000 tpa production capacity1 enables revenue from known near-surface oxides
Conceptual Site Plan2
Oxide Resource Location (oblique plan view)
Oxide Resource Location (looking up and north)
Shallow oxides and surface stockpiles with potential to support expanded cathode operations
North Wall
Nifty East
Low Grade Stockpiles
North Wall
Nifty East
(1) Cyprium is progressing internal studies on further refurbishment and expansion of the existing SX-EW plant, designed to provide approximately 20,000tpa of installed cathode production capacity. This represents potential installed plant capacity,
not a production target. Actual production is subject to a number of variables, including available feed, grade, metallurgical recovery, plant availability and other operating factors. Refer to important information regarding forward looking statements on
slide 2 of this presentation. (2) Conceptual resource areas and mine designs depicted here are subject to change without notice and provided for informational purposes only. Refer to important information regarding forward-looking statements on
slide 2 of this presentation.
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
14
Restoration of additional cells and process areas is a quick and cost-effective way to grow cathode production in strong market
PHASE 2: SXEW EXPANSION1 ENABLES PRODUCTION GROWTH
“A Train” refurbishment enables cathode production growth from potentially accelerated
recovery of existing heap leach pads and future recovery of open pit oxides
(1) Refer to important information regarding forward looking statements on slide 2. (2) Production capacity cited is a reference to actual historic production capacity and not a production target. (3) Phase 1 Cathode Restart. Refer to important
information regarding the Nifty PFS on slide 3.
“A Train”
To be refurbished
5 Mixer Settlers
16,500 tpa historic
capacity3
• Plant was built in stages with total nameplate capacity of 25,000 tonnes2
• Stage 1 operations have refurbished “B Train” to capacity of ~6,000
tonnes3
• Refurbishment of the “A Train” is expected to be a low-capital intensity
project given the scope of operating plant. Relatively simple refurbishment
of additional cells and mixer settlers in “A Train”
• Direct injection leach mineplan and recent commissioning results support
potential for heap leach operations to generate additional feed for the
SXEW at rates exceeding “B Train” capacity
• Potential to expand SXEW production capacity ahead of open pit start to
process the existing heap leach pads faster
Cyprium has advanced study work
to support next stage of plant
expansion and DFS work streams
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
15
PHASE 3+: EXPAND OPEN PIT INTO SULPHIDE OREBODY BENEATH
DFS open pit mine plan prioritises recovery of undisturbed sulphide ores as pit deepens
Priority Sulphide Resource Location (oblique plan view)
Priority Sulphide Resource Location (looking up and north)
Sulphide orebody has significant undisturbed orebody above and up dip
from previously mined areas
Expected +10 years of sulphides mining before encountering previous UG workings
South
Curl Back
South
Curl Back
North Wall
Sulphides
Note: Conceptual resource areas and mine designs. Refer to important information regarding forward-looking statements on slide 2 of this presentation.
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
16
` 2024 PFS1 2027 DFS Strategy2 Driver
Sulphide Processing Strategy
Expand mill to 4.5 Mtpa at start
incl. $89m of expansion capital
Start mill at 2.8 Mtpa
and expand later
Faster to market,
simpler to execute
Mining Rate Strategy
Target 6 Mtpa;
stockpile low grade ore
Initially matched to mill capacity Simpler
Pre-strip Design
Driven by space requirements and
increased speed to revenue w/o oxides;
estimated cost of $189m
Expected lower upfront volume than PFS
through lower mining rate and recovery of
oxides
Revenue from oxides;
reduced mining rate
O/P Oxide Recovery
Treated as waste
but stockpiled on pad
Treated as ore and recovered
Further work on recoveries
since PFS
Oxide Processing
Refurbish SXEW to 6ktpa for existing heaps
Pad cost included, agglomeration costs
excluded
Refurbish SXEW to full capacity
for existing heaps and O/P oxides;
requires agglomeration
Low incremental cost
from here
Opex Basis Consultant-led Mine contractor Speed and capability
Price environment US$ 4.25 /lb Cu
Likely higher to reflect current
and expected price environment
--
NPV8 $1,129 pre-tax -- --
DFS: TARGETING VALUE CREATION THROUGH SIMPLER PLAN
Prioritising opportunities for speed to revenue and increased capital efficiency relative to 2024 Nifty PFS1
1. Information cited derived from reported Nifty PFS. Refer to important information regarding the Nifty PFS on slide 3 of this presentation.
2. Scope of ongoing DFS is subject to change. Refer to important information regarding forward-looking statements on slide 2 of this presentation.
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
Start now, expand later decision around mill likely to reduce capital, stripping requirements and increase execution speed
17
DFS: KEY WORKSTREAMS UNDERWAY TO SUPPORT H1 DELIVERY
Rapidly progressing DFS work scope towards delivery targeted for H1 CY20271
1. Refer to important information regarding forward-looking statements on slide 2.
CY2026 CY2027
Q3 Q4 Q1 Q2 Q3 Q4
PHASE 1 CATHODE RESTART
HL project delivery
HL commissioning
HL optimisation & expansion study
SXEW commissioning
First cathode
Cathode production from existing heaps
SXEW optimisation
DFS WORK SCOPE
Additional drilling and met work
DFS mine plan and costing
DFS MRE/ORE
SXEW expansion study
Pad 7 engineering
Mill refurbishment plan
Non-process infrastructure
Project execution plan & contract strategy
Projected DFS Completion
FID Phase 2/3
Concentrator Refurbishment Cost Estimation
Resource infill Geotech Met sampling
~10,000m drilling program underway
Early SXEW Expansion
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
18
CYM ADVANCING FUNDING DISCUSSIONS FOR OPEN PIT
Long-life, low capital copper production is attractive to many sources of finance
1. Refer to important information regarding the Nifty PFS on slide 3.
2. Refer to important information regarding forward-looking statements on slide 2.
Phased expansion and long mine life in a Tier 1 jurisdiction are a scarce combination,
attracting interest from a range of potential financiers
Credit Funds / Bonds
Bank Lenders
Gov’t /
Concessional Debt
End User / JV Offtake Financing
• The Company has had preliminary discussions with multiple counterparties around funding open pit operations
• Low capital intensity due to existing infrastructure and quick timeline from financing to cash flow generation presents a favourable profile
• Phase 1 operations and select early investments de-risk proposition for potential financiers
• 2024 PFS metrics demonstrated a development capex to EBITDA multiple of 2.3x1
• Contribution from Phase 1 operations and DFS optimisations, along with increased base copper price expectations, have potential to
increase attractiveness to likely counterparties2
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
19
CYPRIUM METALS SNAPSHOT (ASX: CYM)
(1) Trading data at 28 October 2026. Cash and debt comprising: A$37.6m cash at 30 September 2026. Excludes any operating and capital expenses from 30
September 2026 to the date of this publication. Nebari senior secured debt US$27.3m at AUD:USD 0.70. Metals X Convertible Notes A$36.0m face value.
CORPORATE SUMMARY1 CYM SHARE PRICE CHART
BOARD & MANAGEMENT
Matt Fifield Executive Chairman Colin Mackey Chief Operating Officer
Amber Banfield Non-Executive Director Christofer Catania Chief Technical Officer
Gary Comb Non-Executive Director Richard Holmes Chief Development Officer
Scott Perry Non-Executive Director Jeff Sommers Chief Financial Officer
Jim Simpson Non-Executive Director Angus Miles
Corporate Development &
Investor Relations
David Hwang Company Secretary Justin de Meillon Nifty Operations GM
Share Price (as at 28 October 2026) A$0.365
Shares on issue 578m
Market Capitalisation A$211.0m
Cash (as at 30 September 2026) A$37.6m
Senior Debt (maturity December 2029) A$39.0m
Convertible Notes (redemption March 2028) A$36.0m
Enterprise Value A$248.4m 0.10
0.20
0.30
0.40
0.50
0.60
0.70
Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-26 Aug-26 Oct-26
Volume (M)
Share Price (A$)
Brownfield restart of prolific copper complex in Western Australia
SIGNIFICANT SHAREHOLDERS
TANITO
GROUP
OPERATIONS & MARKETING PARTNERS
CYPRIUM | INVESTOR PRESENTATION | OCTOBER 2026
20
JIM SIMPSON
Non-Executive Director
• Experienced mining executive with track
record of operational delivery
• Former MD of Peel Mining and Aurelia Metals
• At Aurelia, his leadership oversaw stabilised
operations, acquisition of a second operation,
repayment of debt and ASX300 inclusion
SCOTT PERRY
Non-Executive Director
• 25+ years of mining leadership with financial
and operational expertise
• Former President & CEO of Centerra Gold,
growing it into a C$3B global enterprise
• Former Board & Audit Committee Member,
World Gold Council (2015–2021)
GARY COMB
Non-Executive Director
• 30+ years in base metal mine development &
operations
• Former Chairman of Finders Resources & MD
of Jabiru Metals, leading project execution &
growth
• Ex-CEO of BGC Contracting, overseeing
large-scale mining services
JUSTIN DE MEILLON
Nifty Operations GM
• 20+ years of operational leadership
experience running large, complex mining
operations
• Formerly GM at Newmont’s Tanami operation,
managing 1,200 personnel and ongoing
production excellence alongside execution of
major expansion and development activities
• Mining Engineer and First Class Mine Manager
JEFF SOMMERS
Chief Financial Officer
• +20 years of executive finance experience
spanning M&A, capital management, business
strategy, and project finance
• Leadership roles across major organizations,
including KPMG, AMP, Qantas, Folium Capital
• Certified Public Accountant with a Masters of
Accountancy from University of Wisconsin–
Madison
RICHARD HOLMES
Chief Development Officer
• Copper executive with extensive experience in
exploration and project development
• Most recently served as Chief Deve
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