Slide 1: Marathon Copper-Palladium Mine
Marathon Copper-Palladium Mine OCTOBER 2026 TSX:GENM OTCQB: GENMF
Slide 2: Forward-looking Statement
Forward-looking S t a t e m e n t TSX:GENM OTCQB: GENMF This presentation contains certain forward-looking information and forward-looking statements, Company’s Marathon Project towards production (including cost overruns and schedule as defined in applicable securities laws (collectively “forward-l
Slide 3: Fully Permitted and Fully Funded
Fully Permitted and Fully Funded TSX:GENM OTCQB: GENMF Copper-palladium Shovel-ready with Trading at a Known Measured project in all necessary substantial and Indicated Northwestern construction discount to its Resources have Ontario - permits approved, peers - approx. potential to Mining Journal's
Slide 4: Polymetallic Reserves
Polymetallic R e s e r v e s 90% TSX:GENM OTCQB: GENMF 29 COPPER Cu 605 of the reserves are in Copper M lbs. the proven category PALLADIUM GOLD 46 79 Pd 2,627 Au 291 Palladium koz. Gold koz. PLATINUM SILVER 78 47 Pt 815 Ag 6,877 Platinum koz. Silver koz. Reserves from feasibility study March 28, 202
Slide 5: Revenue Breakdown by Metal
Revenue Breakdown b y m e t a l TSX:GENM OTCQB: GENMF Average Annual Production % of Revenue at Spot Prices - First 3 Years Average Annual Production 47% 42 million lbs Copper 46 million lbs. 42 million lbs. 38% 210,000 oz 168,000 oz 168,000 oz Palladium 10% 38,000 oz Platinum 44,000 oz 38,000 oz 3%
Slide 6: Active Mines in Northwestern Ontario
Active Mines i n N o r t h w e s t e r n O n t a r i o TSX:GENM OTCQB: GENMF Hemlo Mining Corp: Hemlo Gold Mine (Formerly owned by Barrick) Alamos Gold: Magino & Island Gold Mines Equinox Gold: Greenstone Mine Impala Platinum: Lac Des Iles Mine Wesdome: Eagle River 6
Slide 7: Excellent Infrastructure and Jurisdiction
Excellent Infrastructure and Jurisdiction TSX:GENM OTCQB: GENMF • Located on the Trans-Canada Highway • Served by CPR main rail line • The main Marathon deposit is 10 km from Town of Marathon (~3,000 pop.) • Power line from Wawa to Thunder Bay crosses property • 286 Bed Construction Camp (Option to
Slide 8: A Shrinking Pool of Quality Copper Projects
A Shrinking Pool of Quality Copper Projects TSX:GENM OTCQB: GENMF Declining Discoveries, Rising Demand: Few Junior-Owned Projects Remaining Major Copper Discoveries are Collapsing Junior-Held Copper Projects are Disappearing Total volume of discovered copper per year group (MMt) Recent M&A has remov
Slide 9: Advancing the Marathon Project Towards Production
Advancing the Marathon Project To w a r d s P r o d u c t i o n TSX:GENM OTCQB: GENMF Engineering, First Commence Nations' Agreements Permits Construction Palladium & Copper & EA Decision Production TIMELINE (ESTIMATED) Milestone 2025 H1 2026 H2 2026 Q1 2029 Q3 2029 Revised Feasibility Study (March
Slide 10: March 2025 Feasibility Study Highlights
March 2025 Feasibility Study Highlights ($CAD) TSX:GENM OTCQB: GENMF After-Tax NPV 6% After-Tax IRR Initial Capital Payback Period $1.07 Billion (FS)2 28% (FS)2 $992 Million CAD 1.9 years (FS)2 $2.0 Billion (Spot)3 39% (Spot)3 $724 Million USD 1.4 years (Spot)3 Average Annual AISC Net of LOM Payable
Slide 11: Financing: Pro forma Sources & Uses
TSX:GENM OTCQB: GENMF Financing: P r o f o r m a S o u r c e s & U s e s ( 1 ) ( 2 ) TSX:GENM OTCQB: GENMF Cash Sources C$M Cash Uses C$M Cash 25 Construction Capex (2) 992 Equity (BMO) 150 Sunk Costs (15) Equity (CGF) 90 Pre-Commercial Production Revenue (93) Convertible Note (CGF/CIB) 100 Other Mi
Slide 12: Capex
Capex TSX:GENM OTCQB: GENMF 2025 FS Bid Pricing Progress Capital Area ($M) Mobile Equipment for Construction(a) 74 Approximately 30% of total capital costs now priced through Processing Plant 280 major equipment and construction packages and is tracking Infrastructure 88 at or below the correspondin
Slide 13: Revenue & EBITDA Feasibility & Spot Metal Prices
Revenue & EBITDA F e a s i b i l i t y & S p o t M e t a l P r i c e s TSX:GENM OTCQB: GENMF 13
Slide 14: Mine Life Extension Optionality
Mine Life E x t e n s i o n O p t i o n a l i t y TSX:GENM OTCQB: GENMF 13-year reserve-based mine plan today — additional defined Mineral Resources provide opportunities for future evaluation DEFINED MINERAL INVENTORY CURRENT RESERVES ADDITIONAL M&I INDICATED RESOURCE INFERRED RESOURCE 128 Mt 73 Mt
Slide 15: Generation Mining Peer Positioning
Generation Mining P e e r P o s i t i o n i n g TSX:GENM OTCQB: GENMF Development Stage Comparables | P/NAV 0.76x 0.59x 0.52x 0.50x 0.49x 0.48x 0.46x 0.27x 0.26x 0.24x 0.22x 0.17x 0.13x Faraday Trilogy Marimaca NorthIsle Highland Osisko Ivanhoe Arizona Generation Western ATEX Copper Surge Copper Met
Slide 16: Lassonde Curve The Discovery Lifecycle
Lassonde Curve T h e D i s c o v e r y L i f e c y c l e TSX:GENM OTCQB: GENMF Discovery HIGH There is a tipping point in exploration when drilling amounts to a real mineral discovery and excitement is at its peak. VALUE This is most likely the time when people outside of the mining industry hear of
Slide 17: Generation Mining Value Proposition
Generation Mining Va l u e P r o p o s i t i o n TSX:GENM OTCQB: GENMF Location Ontario, Canada Saskatchewan, Canada Project Name Marathon Project McIlvenna Bay GENERATION Stage Permitted & Shovel Ready In Construction MINING Commodities Cu, Pd, Pt, Au, Ag Cu, Zn, Au, Ag Fully Permitted, Mine Life (
Slide 18: Generation Mining Management Team
Generation Mining M a n a g e m e n t Te a m TSX:GENM OTCQB: GENMF JAMIE LEVY | President, CEO & Director JEREMY WYETH, B.A.Sc. Mining Engineer | Chief Operating Officer Mr. Levy is a co-founder of the Company and serves as President and Chief Executive Mr. Wyeth brings to the Company four decades o
Slide 19: Generation Mining Board of Directors / Technical Advisors
Generation Mining B o a r d o f D i r e c t o r s / T e c h n i c a l A d v i s o r s TSX:GENM OTCQB: GENMF KERRY KNOLL | Chairman of the Board JAMIE LEVY | President, CEO and Director Mr. Knoll was a co-founder of Generation Mining and co-founded several mining Mr. Levy is a co-founder of the Compa
Slide 20: Corporate Structure
TSX:GENM OTCQB: GENMF Corporate Structure Ownership Breakdown Issued and Outstanding 698,233,099 Canada Growth Fund 19.9% (As of Sept 22, 2026) Warrants 47,724,380 Sibanye Stillwater 5% (Avg. Price $0.75) Options 4,849,905 Wheaton Precious Metals 5% RSUs, DSUs and PSUs 15,107,549 Glencore 4% Fully D
Slide 21: Why You Should Invest In Generation Mining
WHY YOU TSX:GENM OTCQB: GENMF Marathon, Ontario is the only shovel-ready and fully SHOULD funded critical mineral project in Canada Fully permitted and Fully funded INVEST IN Company trades at substantial discount to its net present value Generation Mining Payback of less than 2 years Seasoned team
Slide 22: Generation Mining
22 A generation MINING JAMIE LEVY PRESIDENT & CHIEF EXECUTIVE OFFICER Emails Jlevy@genminingscom First Canadian Place Direct: 416.567.2440 100 King Street West, Suite 7010 Office: 416.640.2934 P.O. Box 70, Toronto, ON M5X 1B1 WWW.GENMINING.COM TSX: GENM | OTCQB: GENMF
Slide 23: Appendix
TSX:GENM OTCQB: GENMF Appendix 23
Slide 24: Global Copper Demand by Sector
Global Copper D e m a n d b y S e c t o r TSX:GENM OTCQB: GENMF 24
Slide 25: Copper Demand Growing at 3.5% Per Year
Copper Demand Growing a t 3 . 5 % P e r Ye a r TSX:GENM OTCQB: GENMF THE COPPER SUPPLY GAP IS GROWING Without meaningful expansion, the primary mined supply is set to peak in 2030 25
Slide 26: Why Palladium is Important for the Future
Why Palladium is Important for the Future TSX:GENM OTCQB: GENMF • Primary demand of palladium • Hybrid sales double that of EVs (Pd) is for catalytic converters in the U.S., 30 times that in • Worldwide adoption of Hybrid Japan (world's number two and Electric Vehicles is accelerating three auto mar
Slide 27: Base Metal Developer Comparables
Base Metal Developer C o m p a r a b l e s TSX:GENM OTCQB: GENMF Development Stage Comparables | P/NAV Market Enterprise R&R EV/R&R Company Flagship Property Location Stage P/NAV Capitalization Value 2P MI&I 2P MI&I US$M US$M Ratio Blbs CuEq Blbs CuEq US$/lb CuEq US$/lb CuEq Ivanhoe Electric Santa C
Slide 28: Mineral Resources and Reserves
Mineral Resources and Reserves TSX:GENM OTCQB: GENMF Mineral Reserves (Marathon Deposit) Tonnes Pd Cu Pt Au Ag Classification Mt g/t koz % M lb g/t koz g/t koz g/t koz Proven 115.5 0.66 2,434 0.22 549 0.20 754 0.07 264 1.7 6,242 Probable 12.7 0.47 193 0.20 56 0.15 61 0.06 26 1.6 635 Total P&P 128.3
Slide 29: Mineral Resources by Deposit
Mineral Resources by Deposit TSX:GENM OTCQB: GENMF Mineral Tonnes Pd Cu Pt Au Ag Resource Classification Mt g/t koz % M lb g/t koz g/t koz g/t koz Marathon Deposit Measured 164.0 0.56 2,973 0.20 712 0.18 970 0.07 358 1.7 9,089 Indicated 38.1 0.39 476 0.18 153 0.13 159 0.06 71 1.6 1,896 Meas. + Ind.
Slide 30: Mineral Resources and Reserves Notes
Mineral Resources and Reserves Notes TSX:GENM OTCQB: GENMF Mineral Reserves Notes: a. The Mineral Reserves Estimate were prepared by Marc Schulte, P.Eng., who is also an Mineral Resources Notes: independent Qualified Person, reported using the 2014 CIM Definition Standards, and a. Mineral Resources
Slide 31: Marathon Pit Shell Optionality
Marathon Pit Shell Optionality The current Reserve pit was selected to maximize FS NPV; 128 Mt 202 Mt larger pit shells provide future evaluation option • The current FS Reserve pit is based on a price factor (PF) 0.75 shell and P&P RESERVES1 M&I RESOURCE1 supports an approximately 13-year mine life
Slide 32: Biiwobik Near-Mine Opportunity
Biiwobik Near-Mine Opportunity TSX:GENM OTCQB: GENMF Drilling has intersected Cu-PGM mineralization immediately north of the Marathon Deposit Marathon North Pit Northern extension of the Marathon Deposit 20km • Drilling from 2021 and 2024 targeted mineralization interpreted as the northern extension
Slide 33: Sally Resource Growth Potential
Sally Resource Growth Potential TSX:GENM OTCQB: GENMF 25 Mt 14 Mt INDICATED INFERRED RESOURCE RESOURCE IN-SITU IN-SITU 0.17% Cu, 93 Mlb 0.19% Cu, 57 Mlb 0.35 g/t Pd, 278 koz 0.28 g/t Pd, 124 koz A defined resource with northwest extensions and deeper feeder-conduit • Pit-constrained resource extends
Slide 34: Geordie Resource Growth Potential
Geordie Resource Growth Potential TSX:GENM OTCQB: GENMF 17 Mt 13 Mt INDICATED INFERRED RESOURCE RESOURCE IN-SITU IN-SITU 0.35% Cu, 133 Mlb 0.28% Cu, 80 Mlb 0.56 g/t Pd, 312 koz 0.51 g/t Pd, 212 koz Defined Indicated and Inferred Resources provide a foundation for additional drilling and technical ev
Slide 35: Metal Sensitivities
Metal Sensitivities TSX:GENM OTCQB: GENMF After-Tax NPV6% Palladium Price Sensitivity (US$/oz) After-Tax IRR Palladium Price Sensitivity (US$/oz) Results 800 1,000 1,250 1,500 1,525 1,750 2,000 2,200 Results 800 1,000 1,250 1,500 1,525 1,750 2,000 2,200 2.50 (291) (9) 308 612 643 916 1,214 1,466 2.5
Slide 36: Marathon Critical Minerals Mine Plan
Marathon Critical Minerals Mine Plan TSX:GENM OTCQB: GENMF Units 2025 TR LOM Throughput TPD 27,700 Peak Process Plant Throughput Mt/year 10.1 Tpd 164,000 Peak Mining Rate Mt/year 60 Mine Production (LOM) Total Mined Mt 489.7 Total Waste Mined Mt 361.4 Total Ore Mined Mt 128.3 Strip Ratio Waste:Ore 2
Slide 37: Project Footprint and Mine Plan
Project Footprint and Mine Plan TSX:GENM OTCQB: GENMF Units 2025 TR LOM Throughput tpd 27,700 Peak Process Plant Throughput Mt/year 10.1 tpd 164,000 Peak Mining Rate Mt/year 60 Mine Production (LOM) Total Mined Mt 489.7 Total Waste Mined Mt 361.4 Total Ore Mined Mt 128.3 Strip Ratio waste:ore 2.8 Pa
Slide 38: Processing and Metallurgy
Processing and Metallurgy TSX:GENM OTCQB: GENMF Conventional processing plant flow sheet consisting of: • Primary gyratory crusher • Overland conveyor and crushed ore stockpile • SAG-Ball Mills and Pebble crusher • Regrind mill • Rougher + cleaner flotation circuit • Concentrate and tailings dewater
Slide 39: Met Recoveries and Concentrate Grade
Met Recoveries and Concentrate Grade TSX:GENM OTCQB: GENMF Bulk Sample Elements in the Parameter GeoMet Formula1 Maximum Value used in Met Concentration2 Phase II %Rec Cu to Final Conc = 97.55 x (% Cu head grade) 0.0239 94% Rec Cu Pd g/t 85.9 %Rec Pd to Final Conc = 89.14 x (g/t Pd head grade) 0.020
Slide 40: Processing Flow Diagram
Processing Flow Diagram TSX:GENM OTCQB: GENMF 40