Orion Minerals Limited · ASX:ORN
Orion Minerals — Africa Down Under Conference 2025
21 slides from Orion Minerals's conference presentation, Sep 3, 2025
Slide 1: Accelerating towards production
Accelerating towards production Africa Down Under Conference Denis Waddell – Chairman September 2025 orionminerals.com.au ASX: ORN | JSE: ORN
Slide 2: Important Notices & Disclaimer
Important Notices & Disclaimer This presentation contains summary information about Orion technical, business, economic, competitive, political and derived from the production target and confirms that all material Minerals Ltd and its subsidiaries (Orion or Company) and their social uncertainties an
Slide 3: Competent Person Statements
Competent Person Statements The information in this presentation that relates to Orion’s Oosthuizen has sufficient experience that is relevant to the under consideration and to the activities being undertaken Exploration Results is a compilation of previously released type of mining and type of depos
Slide 4: Company snapshot
Company snapshot Post Proposed Current Share Capital Structure Summary Current Significant Shareholders Issue % Share Issue Shares on issue (1 Sep’25) 1, 2 7,502M 7,561M Tembo Capital (EU/Netherlands) 14.4 Delphi Group (EU/Germany) 10.6 Options on issue (1 Sep’25) 235M 235M Clover Alloys (SA) (South
Slide 5: Focus on two highly prospective regions
Focus on two highly prospective regions 3,582km2 of prime exploration and mining rights Upington Oranjemund Okiep Copper Pofadder Project Prieska Springbok Copperton Nababeep Prieska Copper Zinc Mine 450 km Page 5
Slide 6: Prieska Copper Zinc Mine and Flat Mines (at Okiep)
Prieska Copper Zinc Mine and Flat Mines (at Okiep) Two fully permitted, brownfield projects PCZM DFS ▪ Total Mineral Resources: 31Mt @ 1.2% Cu and 3.6% Zn resulting in contained Cu of 370kt and contained Zn of 1.12Mt ▪ Total Probable Ore Reserves: 15.6Mt @ 1.1% Cu and 3.1% Zn resulting in contained
Slide 7: PCZM Cross and long sections
PCZM Cross and long sections 1,250m 31Mt @ 1.2% Cu, 3.6% Zn 2.6km Refer ASX/JSE release 25 July 2023 Page 7
Slide 8: PCZM Project development
PCZM Project development Phase 1: Shallow Mining Plan aims to target mining from shallow underground, while dewatering underway producing a bulk concentrate Phase 2: Deeps Mining Plan – building up to annual production of 22kt copper and 65kt zinc N S W E Refer ASX/JSE release 25 July 2023 Page 8
Slide 9: Progressing into execution phase
Progressing into execution phase Accelerating towards production • Project development strategy • Two fully permitted brownfield projects with DFS’s published in March 2025 • Flagship project PCZM to be developed first – integrated project, commencing with Uppers and transitioning into Deeps • Flat
Slide 10: Orion development strategy
Orion development strategy Macro view of defined orebodies Funding + Project Deliver Governance + Value Engineering Sept 25 Prieska Okiep Nov 25 Optimisation to improve DFS NPV: 13 months Feb 26 financial metrics NPV: A$568m 23kt trial mining mixed May 26 A$75m stockpile Aug 26 NPV/Capex: Phase 1 NP
Slide 11: PCZM favourably positioned on the global cost curve
PCZM favourably positioned on the global cost curve Optimisation targeting second quartile for Okiep 500 All-in Sustaining Cost Curve - Copper 450 400 350 Optimisation 300 1st Quartile 2nd Quartile 3rd Quartile Okiep 4th Quartile 251,22 250 200 200 AiSC(USc/lb) 150 PCZM (¢/lb) 94,36 100 AISC 50 - 00
Slide 12: Funding workflow to unlock Uppers and then Deeps
Funding workflow to unlock Uppers and then Deeps Offtake negotiations underway Underway/Complete Near Term Execution Longer Term Execution Equity Capital Raise SPP Equity Capital Raise Offtake - Partner Selection Offtake - DD/Agreements/Close IDC - Funding Options IDC - Complementary Funding Role Tr
Slide 13: Outcomes - concentrate by Christmas 2026
Outcomes - concentrate by Christmas 2026 PCZM integrated execution for phase 1 Uppers and phase 2 Deeps Activity 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 EPCM Series of contracts On-site Contractors Camp incl Civils * Surfac
Slide 14: Exploration opportunities at PCZM and OCP
Exploration opportunities at PCZM and OCP orionminerals.com.au ASX: ORN | JSE: ORN
Slide 15: PCZM – Near and medium-term exploration
PCZM – Near and medium-term exploration Medium-term plan for resource definition and target extensions SE • 22,000m of resource definition drilling • 72,000m from existing and NW planned development to target extensions T1 – NW extension 400m+ T2 – SE extension to high T3 T2 grade, thickest intersec
Slide 16: OCP – Near and medium-term exploration
OCP – Near and medium-term exploration Deposits and prospects under current evaluation
Slide 17: Appendix
Appendix orionminerals.com.au ASX: ORN | JSE: ORN
Slide 18: PCZM Project Mineral Resource Estimates
PCZM Project Mineral Resource Estimates Refer ASX/JSE Releases 28 March 2025, 25 July 2023 Page 18
Slide 19: PCZM – Metal Equivalents
PCZM – Metal Equivalents Deeps LoM Plan The Deeps LoM plan contains 22.6Mt of material with an underground average mined grade of 1.0% Cu and 3.3% Zn, giving a Cu equivalent (CuEq) grade of 1.6% Cu. The CuEq (%) values presented for the Deeps LoM Plan and Deeps Probable Ore Reserve estimate were det
Slide 20: OCP – Flat Mines Project Mineral Resource Estimates
OCP – Flat Mines Project Mineral Resource Estimates Refer ASX/JSE Releases 28 March 2025 Page 20
Slide 21: Orion Minerals Limited
Orion Minerals Limited Level 27, 120 Collins Street Melbourne, Vic, 3000 Australia Phone: +61 (0)3 8080 7170 Email: info@orionminerals.com.au Website: www.orionminerals.com.au orionminerals.com.au ASX: ORN | JSE: ORN