Announcement PDF Carmen Copper Project “Wired for Growth” Virtual Copper Conference Transformational Project Tier 1 Jurisdiction Proven Team Investor Presentation September 2025 ASX:NFL norfolkmetals.com.au Disclaimer Presentation: This presentation has been prepared and issued by Norfolk Metals Limited (ASX: NFL, Norfolk or the Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a reader should consider in evaluating the Company. While management has taken every effort to ensure the accuracy of the material in this presentation, the Company and its advisers have not verified the accuracy or completeness of the material contained in this presentation. Forward-looking statements: This presentation contains forward looking information about the Company and its operations. In certain cases, forward looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Not financial product advice: This presentation is not financial product nor investment advice or a recommendation to acquire securities in the Company. It has been prepared without taking into account the objectives, financial situation or needs of individuals Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice No offer: This presentation and its contents are not an invitation, offer, solicitation or recommendation with respect to the purchase or sale of any securities in the Company in any jurisdiction and must not be distributed, transmitted, or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. This presentation is not a prospectus or any other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law. INVESTOR PRESENTATION Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Competent Person Statement: The information is extracted from announcements entitled ‘Norfolk to earn-into Chilean Copper Project’ created on 31 March 2025, ‘Carmen Copper Project Maiden Drill Campaign Update’ created on 12th May 2025, ‘Norfolk to proceed with Stage 1 Earn-in at Carmen Copper’ created 13th June 2025, ‘ Carmen Copper Project Drilling Permit Granted’ created 21st July 2025 and ‘RC Drilling Commenced at Carmen Copper’ created 13th August 2025 which are available to view on https://norfolkmetals.com.au/asx-announcements/. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that 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 been materially modified from the original market announcement. Authorisation: This presentation is authorised for release by Norfolk’s board of directors. All currency amounts are in Australian dollars unless otherwise specified. Presentation cover image: View when driving into site via road from Alto del Carmen Operations Camp. 2 Carmen Copper Project objective INVESTOR PRESENTATION “Our objective is to define a copper oxide resource of sufficient scale to support a low-cost, high-margin heap leaching operation while simultaneously unlocking the substantial shallow sulphide potential below the oxide cap” 3 Copper powers progress Copper is the backbone of electrification and global growth; it is pivotal to the green energy transition and growing AI data centre requirements. Supply gaps are driving long-term upside. Copper now included in draft “2025 List of Critical Minerals” as of 25th August 2025 US Department of Interior announce draft “2025 List of Critical Minerals” including copper Copper Firms Up Near Record High Copper futures edged up to around US$5.73 per pound on Wednesday 23rd July 2025 (TradingView - https://www.tradingview.com/news/te_news:471954:0-copper-firms-up-near-record-high/) INVESTOR PRESENTATION (https://www.doi.gov/pressreleases/department-interior-releases-draft-2025-list-critical-minerals) Energy Transition Investment would need to average $5.6 trillion each year from 2025 to 2030, in order to get on track for global net zero by 2050, in line with the Paris Agreement (Global Investment in the Energy Transition Exceeded $2 Trillion for the First Time in 2024, https://about.bnef.com/insights/finance/global-investmentin-the-energy-transition-exceeded-2-trillion-for-the-first-time-in-2024-according-to-bloombergnef-report/) Copper Supply Gap Current copper mine project pipeline points to a 30% supply deficit by 2035 (2025 edition of the IEA’s annual Global Critical Minerals Outlook, https://www.iea.org/news/diversification-is-the-cornerstone-of-energy-security-yet-criticalminerals-are-moving-in-the-opposite-direction) 4 Board and Project Operators Ben Phillips Jason Greive Director – Transcendence Mining Carmen Copper JV Operators Mr Greive is an experienced mining executive and project development professional with over 30 years of corporate, operational and project development experience in gold, copper, iron ore and base metals. Mr Greive has worked for several multinational mining houses such as Barrick Gold, Placer Dome, Rio Tinto, North Ltd and Evolution Mining across numerous jurisdictions including Sweden, South Africa, Tanzania, Indonesia and The Philippines. In his more recent roles with Evolution Mining as General Manager of the Cowal Gold Mine (NSW) and Red 5 as Chief Operating Officer, he was instrumental in the initiation, navigation, leadership and delivery of significant expansion and greenfield development projects at Cowal and King of the Hills operations. Leo Pilapil Patrick Holywell Non-Exec Technical Director – Norfolk Metals Independent, Non-Exec Director – Norfolk Metals David Fowler Alex Raab Director - Transcendence Mining Carmen Copper JV Operators Mr Fowler is a finance professional with over 35 years of financial & mining industry experience. As the CFO at Merdeka Copper Gold, he has been instrumental in funding the growth of the group from a single asset gold project into a multicommodity business with an enterprise value of US$9 Billion in 2024. He has led debt & equity funding processes to raise more than US$400m in equity and US$4B in debt during this time. Mr Fowler has worked in numerous other executive roles including CEO of Orosur Mining, a South American focused gold company producing 100,000 ounces of gold per annum and Finders Resources Limited that operated the 20,000-tonne per annum Wetar copper heap leach project. INVESTOR PRESENTATION Executive Chair – Norfolk Metals Carmen Copper SPA General Manager - Exploration Mr Raab has over 30 years exploration and project development experience in Latin America and North America. He has worked for several major & junior mining - exploration companies including: Homestake Mining, Kennecott Minerals, MIM Exploration, Farwest Mining, Chapleau Resources, Uruguay Minerals, Orosur Mining, Golden Rim Resources, Challenger Gold and others. His experience includes; epithermal Au-Ag/poly-metallic, sediment-hosted Au, shear zone hosted lode-gold, Au-Cu, and Au porphyry; IOCG deposits, magnetite, and other industrial commodities. In 2020, Alex took an Exploration Manager position with Challenger Gold (formally Challenger Exploration) managing exploration in Ecuador which resulted in two separate maiden MRE´s within 4 years on the AuCu-Ag-Mo Porphyry Deposits. 5 Key messages & value proposition (https://www.mining-technology.com/marketdata/five-largest-copper-mines-chile/?cf-view) (https://discoveryalert.com.au/news/chile-copper-production-record-2025-global-impact/) 2. Strong development potential with a proven team Historical shallow resource (refer to Annexure A) over ~5% of mineralised strike open in all directions with oxide ore metallurgy and other project characteristics conducive to low cap-ex heap leaching methodology. The Transcendence Mining team bring an experienced resource and project development team with incountry experience. The sulphide mineralisation potential below the oxide cap provides significant upside. INVESTOR PRESENTATION 1. Copper and Chile is the right commodity at the right address Chile is the world leader in copper production and known deposits. More than 60 copper mines in Chile with more than 2 dozen heap leach operations providing a proven platform for Norfolk objectives at the Carmen Copper Project. 3. Company is fully funded and moving fast The maiden drilling campaign is underway with drilling and exploration activities fully funded for the remainder of 2025 with assay results and steady news flow expected. 6 Project overview Mantos Blancos 82km from the historic mining town of Vallenar with a readily available workforce ▪ Located in an easily accessible, rolling plateau region between the elevations of 1950m-2150m ▪ Semi-arid with typical summer temperatures between 10-25°C and winter temperatures between 0-15°C Mantoverde Project ▪ 12km from the national electrical grid and within 180km of three industrial ports ▪ Large scale 46.6km2 concession package within the regionally extensive north-trending San Felix Fault system, host to numerous copper and gold bearing systems ▪ Historical copper-oxide resource of 5.6Mt @ 0.6% has been outlined from surface to 30m which remains open in all directions1 ▪ Strong potential for a material copper oxide resource ▪ Sulphide copper resource potential below the oxide zone ▪ Over 10,000m historical drilling by previous owners and operators 2.34bt @ 0.37% Cu 8.58mt contained Cu Candelaria Complex 622mt @ 0.47% Cu 2.1mt contained Cu INVESTOR PRESENTATION ▪ 445mt @ 0.58% Cu 2.59mt contained Cu 1. Carmen NI 43-101 MRE. The mineral resource is a historical foreign estimate (within the meaning of the ASX Listing Rules) and is not reported in accordance with the JORC Code and a Competent Person (within the meaning of the JORC Code) has not done sufficient work to classify the foreign estimates as Mineral Resources in accordance with the provisions of the JORC Code. It is uncertain that following evaluation and further exploration work that the foreign estimates will be able to be reported as Mineral Resources in accordance with the provisions of the JORC Code. Please refer to Annexure A for information relating to the mineral resources and reserves classifications for each of the Mantos Blancos Mine, Mantoverde Project and Candelaria Copper Mining Complex which have been previously reported in accordance with NI 43-101 standards. 7 Project location ▪ Established Operations Camp in town of Alto del Carmen approximately 1h drive from site (25 km) ▪ Altitude and precipitation allows year-round access and operations ▪ All required services are available at Alto del Carmen or Vallenar INVESTOR PRESENTATION ▪ Industrial water supply for drilling available at Operations Camp 8 Project highlights August 2025 Norfolk commenced drilling up to 5,100m RC and DD Maiden Drill Campaign at the Carmen Copper Project in Chile with Transcendence Mining as Operators Heap Leachable The project objective is to define a copper oxide resource of sufficient scale to support a low-cost, high-margin heap leaching operation whilst simultaneously unlocking the substantial sulphide potential Copper heap leaching projects typically have lower capital development costs making them suitable for a junior company, several characteristics of the Carmen Copper project are conducive to this approach The project hosts a historical copper oxide mineral resource reported in accordance with NI 43-101 standards of 5.6Mt at 0.6% Cu** Low Strip Carmen COPPER PROJECT INVESTOR PRESENTATION The project has significant copper oxide and copper sulphide exploration potential with over 15km of strike across two mineralised belts within a large-scale 46.6km2 concession package Highly Scalable Amenable to Low CapEx Company is funded and drilling for the remainder of 2025 with consistent drilling updates and assays results expected **Historical foreign estimate (within the meaning of the ASX Listing Rules) and is not reported in accordance with the JORC Code and a Competent Person (within the meaning of the JORC Code) has not done sufficient work to classify the foreign estimates as Mineral Resources in accordance with the provisions of the JORC Code. It is uncertain that following evaluation and further exploration work that the foreign estimates will be able to be reported as Mineral Resources in accordance with the provisions of the JORC Code. Refer to Annexure A for the NI 43-101 mineral resource classification. 9 Resource expansion potential ▪ The Carmen Copper Project historical resource is contained within approx. 5% of the total 15km plus potential strike length of two major geological belts within the project area. INVESTOR PRESENTATION ▪ The Carmen-Tabaco Belt is over 7.5km long and hosts the historical resource within mineralisation from surface and old workings. Mineralisation is mainly hosted in calc-silicate altered and locally skarnified volcanics, sediments and dacitic-rhyolitic porphyritic. ▪ The Higueritas Belt is approximately 7.5km long and sub parallel to the Carmen-Tabaco Belt. Sporadic old workings are known from this area, but no drilling is available, with data limited to geophysics and rock chip samples. 10 Carmen Copper Project – IP Chargeability (250m depth) with Targets * identified over the Carmen-Tabaco Belt & the Higueritas Belt SW view over partial 7.5km of strike from Carmen Main towards Dolores INVESTOR PRESENTATION 11 Oxide mineralisation INVESTOR PRESENTATION ▪ The known* copper oxide mineralization at Carmen Main is at least 2.8 km long and 400-800m wide - with less than 20% of this strike length drilled ▪ The Carmen Main copper oxide/enriched zone forms a blanket from the surface to around 40m depth. ▪ The shallow & soluble copper oxide mineralisation in the project area is potentially amenable to a low strip, low-cost open pit mining and heap leaching operation *Interpreted from geophysics, historical drilling, old workings, surface exposures and soil anomalies (please refer to the ASX announcement 31st March 2025). Carmen Copper Project – Representative Cross Section 12 Exceptional oxide grades from surface Please refer to Annexure C - Carmen Cu Project Historical Drill Holes – Higher Grade Intersections Higher grade oxide intervals inside the Carmen NI 43-101 MRE include; INVESTOR PRESENTATION TAB 33: 27.5m @ 1.12% Cu (from 1.5m), incl. 11.5m @ 1.88% Cu TAB 55B: 19m @ 0.93% Cu (from 9m) TAB 77: 8m @ 2.10% Cu (from surface) TAB 82: 2m @ 7.22% Cu (from 20m) Higher grade oxide intervals outside the Carmen NI 43-101 MRE include; CMM 56: 41m @ 2.46% Cu (from surface), includes 4m @ 17.37% (Tabaco mineralisation) CMM 35: 39m @ 1.48% Cu (from surface) CMM 31: 29m @ 1.25% Cu (from surface) CMM 53: 14.9m @ 1.82% Cu (from 8.1m) Historic IPBX Drill Core re-logging carried out during the recent site visits to the Carmen Copper Project 13 Oxide test work Column 2 Column 3 Total Cu 1.29 0.33 0.95 Soluble Cu 1.22 0.28 0.82 Total Cu 1.33 0.33 0.93 Soluble Cu 1.14 0.29 0.82 kg/t 37.67 26.83 34.67 kg/kg Cu 3.9 9.89 4.62 Soluble Cu 84.69 93.24 91.63 Total Cu% 72.39 82.22 81.02 1/2 inch 1/2 inch 1/2 inch Irrigation rate {Vhr/m3) 8 8 8 Leach Time Days 28 28 28 UGT-1100% U GT-3 1 00% UGT-1 45% UGT -2 10% UGT-345% Head Grade Analysed Head Grade Calculated Acid Consumption Recovery Parameters Crush size Sample composition Historical column heap leach test work commissioned by IPBX at CIMM Laboratories in Antofagasta, Chile. ▪ Historical column test work performed on 3 samples of the oxidized metasediments collected from trenches in the vicinity of 4 drillholes and varying in weight from 105 to 166kg. All samples were subjected to simple column tests using 5% dilute sulfuric acid over a 48-hour period on mineralized rock crushed to 100% passing ½” in columns 1m high and 6” wide. ▪ The metallurgical results obtained in the column tests returned Cu extractions of between 72.39 and 82.22%. ▪ Other favourable project development factors at the CCP consist of its modest altitude and ease of site accessibility using major road networks, proximity to grid power and other infrastructure. INVESTOR PRESENTATION Column 1 ▪ These Heap-Leach results will be the basis for confirmatory work conducted on oxide ore post the Maiden Drill Campaign completion. 14 Shallow sulphide opportunity Please refer to Annexure C - Carmen Cu Project Historical Drill Holes – Higher Grade Intersections Higher grade sulphide intervals below the Carmen NI 43-101 MRE; INVESTOR PRESENTATION TAB 031 – Flow banded metasediment containing mainly of Cu sulphides (chalcopyrite) and minor pyrite1 TAB 83: 69m @ 1.37% Cu (from 43m), incl. 24m @ 2.15% Cu & 14m @ 1.77% Cu TAB 031: 52m @ 0.92% Cu (from 66m) TAB 01A: 28m @ 1.46% Cu (from 136m), incl. 14m @ 2.27% Cu ▪ Historical Drill intercepts were not assayed for precious metals ▪ 4 significant large geophysical targets identified at depth 1. The assay grade represented in the image are from the 2m composite half-core sample interval submitted to ALS-Chemex Coquimbo, Chile. Please refer to Annexure C - Carmen Cu Project Historical Drill Holes – Significant Intersections. 15 Maiden Drill Campaign Progress ASX:NFL norfolkmetals.com.au Maiden drill campaign Drilling Matrix – 50 Proposed Collars Oxide Targeted RC & DD Holes 20 drill holes with 71m average target depth INVESTOR PRESENTATION Oxide/Sulphide Targeted RC Holes 1 drill hole with 90m targeted depth Oxide/Sulphide Targeted DD Holes 1 drill hole with 225m targeted depth Oxide/Sulphide Twinning RC & DD Holes 4 drill holes with 59m average target depth Stepout RC & DD Holes 21 drill holes with 77m average target depth Scout Sulphide Target DD Holes 4 drill holes with 400m average target depth 17 Carmen Copper Project – Initial RC Drilling Phase inside Blue Oval Corporate snapshot Top 20 own ~43% of shares on issue, 697 shareholders (as at 29th August 2025) Transformational earn in commenced in prime commodity and jurisdiction with favourable deal terms Tight capital structure leveraged for exploration and development success Pro Forma Capital Structure (ASX: NFL) INVESTOR PRESENTATION Share Price (Last trade 29th August 2025) $0.18 Proposed Shares to be issued post Sept 2025 EGM3 14,989,767 Shares on issue 65,051,165 Proposed Options1 27,089,808 Market capitalisation (undiluted) $14,407,368 Cash2, 3 $5,394,000 Enterprise value (EV)2, 3 $9,013,368 1. Options on issue at strike prices ranging from 20c to 30c and expiry dates ranging 29/06/2026 to 14/3/2027. Total includes 3,500,000 options to Lead Manager of raise and 2,100,000 options to Norfolk board yet to be issued and subject to shareholder approval at September 2025 EGM 2. June 30th 2025 Quarterly Report of $2,104,000 plus proposed capial raise of $3,500,000 minus costs of the offer 3. Firm commitments for placement of $3.5m announced 28th July 18 Carmen Cu Project Old workings along dominant structural corridors trending NE 050° and NNW 340° Key messages & value proposition (https://www.mining-technology.com/marketdata/five-largest-copper-mines-chile/?cf-view) (https://discoveryalert.com.au/news/chile-copper-production-record-2025-global-impact/) 2. Strong development potential with a proven team Historical shallow resource (refer to Annexure A) over ~5% of mineralised strike open in all directions with oxide ore metallurgy and other project characteristics conducive to low cap-ex heap leaching methodology. The Transcendence Mining team bring an experienced resource and project development team with incountry experience. The sulphide mineralisation potential below the oxide cap provides significant upside. INVESTOR PRESENTATION 1. Copper and Chile is the right commodity at the right address Chile is the world leader in copper production and known deposits. More than 60 copper mines in Chile with more than 2 dozen heap leach operations providing a proven platform for Norfolk objectives at the Carmen Copper Project. 3. Company is fully funded and moving fast The maiden drilling campaign is underway with drilling and exploration activities fully funded for the remainder of 2025 with assay results and steady news flow expected. 19 Thank you Contact: Phone: +61 8 6255 8625 Email: info@norfolkmetals.com.au Web: www.norfolkmetals.com.au ASX:NFL norfolkmetals.com.au Annexure A - NI 43-101 - Mineral Resources and Reserves Carmen NI 43-101 MRE Oxide Zone Resource Classification - Copper grade (%) Contained Metal - Indicated 1,827.80 0.59 1078.40 Total Measured and 1,827.80 0.59 1078.40 Indicated Inferred 836.1 0.59 493.30 Total 2,663.90 0.59 1,571.70 Resources Note: reported at a cut-off grade of 0.2% Cu, not capped Tonnage Copper grade (kilotonnes) (%) - Total Resource (Oxide+Secondary) Contained Metal Tonnage (kilotonnes) Copper grade (%) - - Contained Metal 1,742.60 0.7 1219.82 3,570.40 0.64 2298.22 1,742.60 0.7 1219.82 3,570.40 0.64 2,298.22 1,191.90 0.49 584.03 2,028.00 0.53 1077.33 2,934.50 0.61 1803.85 5,598.40 0.60 3,375.55 INVESTOR PRESENTATION Measured Tonnage (kilotonnes) Secondary Enrichment Independent Technical Report prepared by SRK Consulting Chile S.A. (SRK) for International PBX Ventures Ltd. (IPBX) published 25 January 2027 (Carmen NI 43-101 MRE). Cautionary Statement - Carmen NI 43-101 MRE In accordance with ASX Listing Rule 5.12.9, the Company provides the following cautionary statement regarding the Carmen NI 43-101 MRE shown in Table 1: • • • the Carmen NI 43-101 MRE is a foreign estimate and is not reported in accordance with the JORC Code; a competent person has not done sufficient work to classify the foreign estimate as a mineral resources in accordance with the JORC Code; and it is uncertain that following evaluation and/or further exploration work that the foreign estimate will be able to be reported as mineral resources in accordance with the JORC Code. 21 Annexure A - NI 43-101 - Mineral Resources and Reserves INVESTOR PRESENTATION 22 Annexure A - NI 43-101 - Mineral Resources and Reserves INVESTOR PRESENTATION 23 Annexure A - NI 43-101 - Mineral Resources and Reserves INVESTOR PRESENTATION 24 Annexure A - NI 43-101 - Mineral Resources and Reserves INVESTOR PRESENTATION 25 Annexure B - Transcendence Mining - previous project involvement Carmen Copper Operators – project experience matrix Project Status Nickel Producing Acid, Iron, Copper, Gold Producing Wetar Copper Heap Leach (lndo) Copper Producing Tujuh Bukit Gold Heap Leach (lndo) Gold Producing Tujuh Buikt Copper (lndo) Copper Feasibility Pani (lndo) Gold Construction King of the Hills (AUS/WA) Gold Producing Lake Cowal Gold Mine (AUS/NSW) Gold Producing North Mara (Tanz) Gold Producing Copper (Au) Producing Kanowna Belle Gold Mine (AUS/WA) Gold Producing San Gregorio (Uruguay) Gold Producing SCM Nickel Mine (lndo) Acid Iron and Metals (lndo) Palabora Copper (South Africa) Exploration Feasibility Development Financing INVESTOR PRESENTATION Commodity 26 Annexure C - Carmen Cu Project Historical Drill Holes – Significant Intersections Minimum intercept width 4m, except for over known veins Intercepts calculated using 0.2% Cu cutoff and allowing up to 4m of internal waste Coordinates based on WGS84, UTM zone 19S RL is taken from best fit to EOS surface Hole_ID Easting Dip Azim CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CMM 1 CMM 2 CMM 3 CMM 4 CMM 4 CMM 5 CMM 6 CMM 6 CMM 7 CMM 8 CMM 9 CMM 10 CMM 11 CMM 11 CMM 12 CMM 12 CMM 13 CMM 14 CMM 15B CMM 16B CMM 16B CMM 17 CMM 18 CMM 19 CMM 20 CMM 21 CMM 22B CMM 23 CMM 24 CMM 24 CMM 25 CMM 25 CMM 26 CMM 27 CMM 27 CMM 29 CMM 30 CMM 31 CMM 31 CMM 34 CMM 35 CMM 36 CMM 36 CMM 37 CMM 38 CMM 39 CMM 39 CMM 40 363356 363379 363301 363371 Northing RL_Terrain 6826850 6826875 6826890 6826805 2020 2018 2031 2029 -90 -90 -45 -90 0 0 315 0 Total Depth (m) From (m) 35 46 26 36 363416 363496 6826800 6826855 2031 2007 -90 -90 0 0 42 76 363511 363546 363576 363616 363601 6826880 6826880 6826940 6826925 6826895 2004 2004 2003 1996 2003 -60 -60 -55 -60 -60 45 50 75 170 160 43 24.5 23.1 14 31 363561 6826855 2012 -60 155 29 363546 363466 363541 363581 6826855 6826750 6826760 6826765 2009 2041 2043 2054 -60 -90 -60 -60 155 0 105 135 16.3 29.1 17 32 363601 363606 363616 363581 363596 363601 363571 363601 6826735 6826775 6826770 6826815 6826840 6826790 6826835 6826685 2065 2053 2056 2032 2021 2047 2021 2078 -90 -60 -90 -90 -60 -90 -90 -90 0 170 0 0 95 0 0 0 28 26 15 31 16 16 33 41 363571 6826920 2002 -90 0 41 363341 363276 6826870 6826895 2023 2035 -90 -90 0 0 33 44 363536 363406 363386 6826600 6826650 6826725 2086 2069 2054 -90 -90 -90 0 0 0 23 16.1 37 363821 364001 363916 6827030 6827045 6827115 2025 2083 2073 -60 -55 -90 135 135 0 23 39 36 363951 363971 363896 6827125 6827155 6827155 2084 2086 2079 -90 -90 -90 0 0 0 35 22 33 363876 6827000 2025 -90 0 31 0 0 0 0 29.1 0 2 73 0 0 0 0 0 12 0 15 0 0 2.2 0 28 0 0 0 0 0 0 0 0 23 0 25 0 0 23 0 0 0 29 0 0 0 33 0 0 0 28 0 To (m) 35 46 26 29.1 36 42 73 76 43 24.5 23.1 12.3 12 31 6.2 29 16.3 28 17 28 32 28 23 12 31 16 16 33 23 41 25 41 33 23 44 15 16.1 29 37 23 39 33 36 35 22 28 33 31 Width (m) Cu Tot% Cu (Sol)% 35 46 26 29.1 6.9 42 71 3 43 24.5 23.1 12.3 12 19 6.2 14 16.3 28 14.8 28 4 28 23 12 31 16 16 33 23 18 25 16 33 23 21 15 16.1 29 8 23 39 33 3 35 22 28 5 31 0.97 1.37 2.02 1.39 0.73 1.50 1.15 0.78 1.37 1.19 1.89 0.77 0.95 1.33 2.45 0.73 2.03 1.09 1.01 1.15 0.66 1.45 0.75 0.45 1.57 0.50 0.82 1.40 0.85 0.63 0.66 0.99 1.80 1.78 0.89 0.76 0.21 1.25 0.73 0.39 1.48 0.93 1.10 1.07 0.65 0.94 0.65 1.00 0.90 1.27 1.87 1.29 0.68 1.39 1.06 0.72 1.27 1.11 1.75 0.71 0.88 1.23 2.27 0.68 1.88 1.01 0.93 1.06 0.61 1.35 0.69 0.42 1.45 0.46 0.76 1.30 0.78 0.58 0.61 0.91 1.67 1.65 0.82 0.70 0.19 1.16 0.68 0.36 1.37 0.86 1.02 0.99 0.60 0.87 0.60 0.92 Description OXIDE + LEACHED OXIDE OXIDE OXIDE + LEACHED TRACE SULPHIDE OXIDE + LEACHED OXIDE TRACE SULPHIDE OXIDE + LEACHED OXIDE + LEACHED OXIDE OXIDE OXIDE TRACE SULPHIDE OXIDE OXIDE OXIDE OXIDE + LEACHED OXIDE OXIDE TRACE SULPHIDE OXIDE OXIDE OXIDE OXIDE + LEACHED OXIDE OXIDE OXIDE OXIDE + LEACHED SULPHIDE OXIDE SULPHIDE OXIDE OXIDE TRACE SULPHIDE OXIDE + LEACHED OXIDE OXIDE + LEACHED TRACE SULPHIDE OXIDE OXIDE + LEACHED OXIDE TRACE SULPHIDE OXIDE OXIDE OXIDE TRACE SULPHIDE OXIDE+ LEACHED INVESTOR PRESENTATION Project Included intercepts calculated using 1.0% Cu cutoff and allowing up to 4m of internal waste Back Calculated from Soluble Cu assuming 92% Soluble 27 Annexure C - Carmen Cu Project Historical Drill Holes – Significant Intersections Minimum intercept width 4m, except for over known veins Intercepts calculated using 0.2% Cu cutoff and allowing up to 4m of internal waste Coordinates based on WGS84, UTM zone 19S RL is taken from best fit to EOS surface Hole_ID Easting Dip Azim CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN TABACO TABACO CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARMEN CARM