Collective Mining Ltd · TSX:CNL
Collective Mining — Investor Presentation (September 2026)
34 slides from Collective Mining's investor presentation, September 2026
Slide 1: Corporate Presentation September 2026
——~ (Wy COLLECTIVE =a ME NeLN: G2 - Corporate Presentation ~ Z ———————————— = Se 4 _ X @CollectivecNi | @Ariski73 (Ari Sussman) ) NASDAQ & TSX: CN - ° if September 2026
Slide 2: Cautionary Statement on Forward-Looking Information
Cautionary Statement on Forward-Looking Information This presentation has been prepared by Collective Mining Ltd. (“Collective” or the “Company”) for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase any securities. This presentation shoul
Slide 3: Track Record of Creating Value in Colombia
Track Record of Creating Value in Colombia The Collective Edge Founded Continental Gold which discovered, built and ultimately sold the largest gold mine in Colombia to Zijin Mining in 2020. Well trusted, knowledgeable and successful Buriticá Mine management team in Colombia. Highly specialized tale
Slide 4: Capital Structure and Analyst Research
Capital Structure and Analyst Research Analyst Research Coverage Firm: Clarus Securities Inc. Common Shares Outstanding 92.6M Analyst: Varun Arora, MBA Target price: C$40.00 Stock Options 6.7M Firm: BMO Capital Markets Fully Diluted Shares Outstanding 99.3M Analyst: Andrew Mikitchook Target price: C
Slide 5: Colombia: A Well Established Mining Jurisdiction
Colombia: A Well Established Mining Jurisdiction Cerro Matoso Esmeralda Cordero Esmeralda Open Pit | Ni Cerrejón Underground | Au, Ag Esmeralda Open Pit | Coal El Alacrán Esmeralda Open Pit | Au, Ag El Descanso Esmeralda On September 8, 2026, the U.S. and Colombia signed Open Pit | Coal a Critical M
Slide 6: Caldas: The Most Desirable Mining State in Colombia
Caldas: The Most Desirable Mining State in Colombia 500+ year mining history – Pro-mining area of Colombia Industrial based economy with excellent infrastructure High level of education Excellent security 6
Slide 7: 100% Owned Projects in the Heart of a Mining Camp
100% Owned* Projects in the Heart of a Mining Camp “The best place to find a mine, is next to a mine” Located next to Aris Mining’s multi-million-ounce Marmato mine, with production increasing to ~200koz p.a. in late 2026 Future infrastructure site located next to Pan American Highway, hydro power a
Slide 8: Guayabales Project
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Slide 9: Guayabales: ~90,000 Meters of Drilling in 2026 (13 Rigs)
Guayabales: ~90,000 Meters of Drilling in 2026 (13 Rigs) 10 permitted & operating mines in a 3km area within an established mining camp. Multiple discoveries made through reconnaissance drilling since 2022. 196,500 meters of drilling with assays 9
Slide 10: Note: Internal engineering studies for the exploration adit
Note: Internal engineering studies for the exploration adit have not been independently reviewed by a QP and are not supported by a technical report or other study prepared in accordance with NI 43-101. AuEq values for drill results are as reported when originally published. 10
Slide 11: Apollo Deposit
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Slide 12: Apollo Initial Contained Mineral Resource
Apollo Initial Contained Mineral Resource(1,2,3,4) 45km of Diamond Drilling Has Been Completed Since The Cut-off Date Model Cut-off Date of March 31, 2026 Tonnes Au Ag Cu WO3 AuEq(5) AuEq Category Based on 114.5 km of Drilling (Mt) (g/t) (g/t) (%) (%) (g/t) (Moz) Open Pit (Shallow Halo Zone “SHZ”) I
Slide 13: In-Pit Constrained Resources - Attractive Grades & Low Strip Ratio
In-Pit Constrained Resources - Attractive Grades & Low Strip Ratio Pit Shell Tonnes AuEq AuEq Waste Strip Category (Cumulative) (Mt) (g/t) (Moz) (Mt) Ratio Indicated 3.42 2.53 0.28 1 8.98 1.68 Inferred 1.93 2.43 0.15 Indicated 8.88 2.11 0.60 2 29.2 1.97 Inferred 5.97 1.24 0.24 Indicated 17.3 2.07 1.
Slide 14: Copper & Tungsten Sub-Domains: Key Critical Minerals
Copper & Tungsten Sub-Domains: Key Critical Minerals Tonnes Au Ag Cu WO3 CuEq Tonnes Au Ag Cu WO3 WO3Eq Zone Category Zone Category (Mt) (g/t) (g/t) (%) (%) (%) (Mt) (g/t) (g/t) (%) (%) (%) Copper Indicated 10.2 1.25 56.0 0.41 0.022 3.10 Tungsten Indicated 2.57 1.38 39.1 0.39 0.10 0.28 Sub-Domain In
Slide 15: Apollo Open Pit: Strong Potential to Further Reduce Strip in the SHZ
Apollo Open Pit: Strong Potential to Further Reduce Strip in the “SHZ” - 80% of SHZ remains untested - OP MR Strip Ratio is 3.4:1; potential to improve with further drilling - 3 rigs currently turning AuEq calculations for drill results have been updated from the values used in the original formulas
Slide 16: Underground Expansion Potential Below Pit & Above Ramp Zone
Underground Expansion Potential Below Pit & Above Ramp Zone Apollo Plan View 1,000 masl Tonnes Au Ag Cu WO3 AuEq AuEq Level Category (Mt) (g/t) (g/t) (%) (%) (g/t) (Moz) AuEq calculations for drill results have been updated from the values used in Underground the original formulas when originally pu
Slide 17: Ramp Zone: Only 315m of the 1.5 km Circumference in the Block Model
Ramp Zone: Only 315m of the 1.5 km Circumference in the Block Model Only a fraction of the breccia lateral circumference had enough drilling density to qualify for inclusion in the Block Model 17 drill holes pending assays for Ramp Zone; 5 new holes underway Multiple visual intercepts appear to have
Slide 18: Ramp Zone: Maximum Vertical Depth of 350m in the Block Model
Ramp Zone: Maximum Vertical Depth of 350m in the Block Model Please refer to the Mineral Resource Statement notes. Unconstrained geological block model based on drilling data through March 31, 2026. Shown for geological interpretation; the displayed model does not represent a reportable Mineral Reso
Slide 19: Metallurgy: High Recovery Rates & Conventional Circuit for Au-Ag-Cu-WO3
Metallurgy: High Recovery Rates & Conventional Circuit for Au-Ag-Cu-WO3 Master composite recovery rate (top ~1,000m of Apollo): 95% Au, 92% Ag, 85% Cu Ramp Zone recovery rate: prelim. testing up to 96% Au, >80% Ag – further results in H1 2027 Conventional dual-circuit flowsheet for processing feed:
Slide 20: Trap: Surface Drilling Underway; Trap East Drilling in Q1, 2027
Trap: Surface Drilling Underway; Trap East Drilling in Q1, 2027 • Construction of the Exploration Adit to commence in Q4, 2026; box-cut activities underway • Trap Main System drilling underway; wide open in both directions along trend; underground drilling in H2, 2027 • Drilling of Trap East to comm
Slide 21: Apollo: Projected Catalysts with Visibility to Construction
Apollo: Projected Catalysts with Visibility to Construction H2 2027 2028 H2 2028 2029 H2 2027 Q4 2027 - Q1 2028 H2 2028 Late 2028 – H1 2029 Environmental License Updated Mineral Environmental Updated Mineral Resource Filing Resource incorporating Licensing followed by a Feasibility Study ~100,000m o
Slide 22: Upcoming Catalysts: Up to 90,000 Meters of Drilling in 2026
Upcoming Catalysts: Up to 90,000 Meters of Drilling in 2026 Guayabales Project (13 Drill Rigs) Apollo: Drilling targeting growth 1 • Shallow Halo Zone • Underground above 1,000 masl • Ramp Zone 2 Trap: Drilling underway 3 Greenfield targets: One rig testing Orion target San Antonio Project 1 Potenti
Slide 23: Sustainability: The Collective Model – Dialogue Platform
Sustainability: The Collective Model – Dialogue Platform Multi-stakeholder platform focused on energy efficiency, conservation, social, economic and infrastructure development. Key achievements to date: Energy transition as one of the articulating axes of the process. 27/33 signatories to the volunt
Slide 24: Sustainability Best Practices
Sustainability Best Practices Partnerships to Strengthen Our Communities 2025 a Year of Success University of Caldas Alliance Strategic alliance with the Over US$1M directly invested in Jointly implementing academic Coffee Growers Committee of social programs, benefiting more and research projects f
Slide 25: Board of Directors Key Management
Board of Directors Key Management Ned Jalil Ari Sussman, Executive Chairman CEO Former CEO and director of Continental Gold, which was sold to Zijin Former Chief Technical Officer at Kinross Gold with 25+ years leading global gold, copper, and nickel projects. Mining for C$2 billion. Raised over $1
Slide 26: Appendix
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Slide 27: San Antonio Project
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Slide 28: San Antonio: Ideally Located with One Drill Turning
San Antonio: Ideally Located with One Drill Turning Phase I drilling resulted in the discovery of a high-grade vein system sitting above a mineralized porphyry system. 28
Slide 29: San Antonio: High-Grade Veins Sitting Above a Porphyry
San Antonio: High-Grade Veins Sitting Above a Porphyry Please refer to the originally disclosed press releases for the individual metal breakdown used in the metal equivalent grade calculation. 29
Slide 30: San Antonio: High-Grade Vein Discovery with Significant Dimensions and Open
San Antonio: High-Grade Vein Discovery with Significant Dimensions and Open Please refer to the originally disclosed press releases for the individual metal breakdown used in the metal equivalent grade calculation. 30
Slide 31: Plutus Target: Deep Drilling Planned
Plutus Target: Deep Drilling Planned Please refer to the originally disclosed press releases for the individual metal breakdown used in the metal equivalent grade calculation. Plutus Porphyry Center South: Large coincidental copper & molybdenum in-soil anomaly lying above a magnetic high. Located ap
Slide 32: Notes to the Mineral Resource Statement
Notes to the Mineral Resource Statement Basis of the Mineral Resource The Mineral Resource incorporates a geological database representing 265 drill holes and approximately 114,520 meters of drilling available as of 31 March 2026. The geological model was developed from the interpretation of litholo
Slide 33: Notes to the Mineral Resource Statement
Notes to the Mineral Resource Statement Classification of the Mineral Resource The Mineral Resource classification definitions used for this estimate are those published by the CIM Definition Standards (2014) and includes Indicated and Inferred Mineral Resource. The Qualified Person for the Mineral
Slide 34: Notes Applicable to Mineral Resource Tables and Figures
Notes Applicable to Mineral Resource Tables and Figures 1. The Mineral Resource has an effective date of August 31, 2026. 2. The Mineral Resource was prepared by Ivor W.O. Jones, FAusIMM, P.Geo. (APEGBC), who is an independent Qualified Person as defined by National Instrument 43-101 – Standards of
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