Meridian Mining Plc · TSX:MNO
Meridian Mining — Investor Presentation (May 2026)
26 slides from Meridian Mining's investor presentation, May 7, 2026
Slide 1: Brazil's Next Gold-Copper Miner
BRAZIL’S NEXT GOLD-COPPER MINER Corporate Presentation MNO MNO MRRDF N2E0 meridianmining.co
Slide 2: Cautionary Note Regarding Forward-Looking Statements
C AUTIONARY NOTE REGARDING MERIDIAN FORWARD - LOOKING STATEMENTS MINING This presentation does not constitute or form a part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Meridian Mining plc (“Meridian”),
Slide 3: Important Information
IMPORTANT INFORMATION MERIDIAN MINING This presentation, (the "Presentation") has not been approved by an authorised person within the meaning of the United Kingdom's Financial Services and Markets Act 2000 ("FSMA"). The Presentation should not be construed as, an offer or invitation to sell or issu
Slide 4: Investor Highlights
I NV E S T O R HI G HL I G HT S 1 MERIDIAN MINING A DV A NCI NG C A B A ÇA L G O L D - CO PPE R V M S PR O J E CT T O NE A R - T E R M PR ODUCT I ON Cabaçal Deposit USD 1.0 Billion NPV5 (Base Case ) MATO GROSSO Cabaçal 2025 PFS completed Cabaçal DFS targeted Q4 2026 Advanced permitting Attractive ec
Slide 5: Exceptional PFS Economics Across the Price Scenarios
E XCE PT I ONA L P F S E CONO M I CS A CR O SS T HE PR I CE SCE NA R I OS MERIDIAN MINING P OST - T A X N P V 5 ( U S D B I L L I ON ) S E NS I T I V I T Y T O M E T A L S PR I CE S Post-Tax NPV5 Sensitivity To Metal Price Gold Price (USD / oz) Base 1979.82826 1,500 2,000 2,119 2,500 3,000 3,500 4,0
Slide 6: PFS Cashflow Metrics
P F S – C A S HFL OW M E T R I CS 1 MERIDIAN MINING E XCE PT I ONA L FR E E CA S H FL OW M E T R I CS Notes: 1 See “Cabaçal Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study” - 10th March 2025 meridianmining.co MNO MNO MRRDF N2E0 6
Slide 7: Execution of a Buildable and Scalable Project
E XE CUT I ON O F A B UI L DA B L E A ND S CA L A B L E PR OJ E CT MERIDIAN MINING O P E N P I T DE S I G N M I L L L A YOUT CD-072: 49.0 m @ 4.3 g/t Au 0.4% Cu & 1.2 g/t Ag incl: 12.4 m @ 16.6/t Au, 1.0% Cu & 2.8 g/t Ag CD-205: CD-049: 54.9m @ 2.1g/t Au, 0.1% Cu & 0.5g/t Ag 53.7m @ 10.8g/t Au, 0.3%
Slide 8: Reserve Statement and Metallurgy – Cabaçal PFS 2025
R E S E R V E S T A T E M E NT A ND M E T A L L UR G Y – C A B A ÇA L P F S 2 0 2 5 1 MERIDIAN MINING R E S E R V E S T A T E M E NT - 8 9 % PR O V E N CA T E G OR Y Mass Average Value Metal Content Reserve Classification Mt Au (g/t) Ag (g/t) Cu (%) Au (koz) Ag (koz) Cu (Mlbs) Proven 37.11 0.67 1.64
Slide 9: Utilizing Existing Infrastructure
U T I L I Z I NG E XI S T I NG I NFR A S T R UCT UR E MERIDIAN MINING Hydro-Power Generation: 375 MW (within 100km) LOM Power Costs: USD 0.054 / kWh MATO GROSSO Power Substation ~20 km Cabaçal Project Optimised Trucking Route Multiple renewable energy facilities within region Notes: 1 See “Cabaçal G
Slide 10: Advancing Cabaçal Towards Near-Term Production
A DV A NCI NG C A B A ÇA L T O WA R DS NE A R - T E R M PR O DUCT I O N MERIDIAN MINING E XE CUT I ON P R OCE SS A DV A NCE D L I CE NCE PR OCE SS Expanding build team in Brazil Preliminary licence granted Recruitment and training programs Q4 2025 - Major permitting milestone Long Lead time items In
Slide 11: Cabaçal Timetable & Milestones
C A B A ÇA L T I M E T A B L E & M I L E ST O NE S MERIDIAN MINING 2026 2027 2028 WET SEASON DRY SEASON WET SEASON DRY SEASON WET SEASON DRY SEASON WET SEASON Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FEASIBILITY STUDY Engineering DETAILED ENGINEERING Finance PROJECT FINANCE Permitting INSTALLATION LICENC
Slide 12: Central Zone of 50km Belt: Mine Corridor from Cabaçal to Santa Helena
C E NT R A L Z ONE OF 5 0 K M B E L T MERIDIAN M I NE COR R I DOR FR O M C A B A ÇA L T O S A NT A H E L E NA MINING OPEN meridianmining.co MNO MNO MRRDF N2E0 12
Slide 13: Santa Helena Central and Growth Targets
S A NT A H E L E NA C E NT R A L A ND G R OWT H T A R G E T S MERIDIAN MINING S A NT A H E L E NA NE A R - M I NE T A R G E T S B E L T S CA L E E XPL OR A T I ON Santa Helena Central 1.4km S A NT A H E L E NA C E NT R A L M A I DE N R E SOUR CE * Average Value Metal Content Mass Au Ag Cu Zn Pb Au A
Slide 14: Generative Exploration Across Greenstone Belts
G E NE R A T I V E E XP L OR A T I ON A CR O SS 3 G R E E NS T ONE B E L T S MERIDIAN MINING Exploration budget CAD 10 m On-going exploration programs Drilling & Geophysics Significant land holding ~ 117,040 ha Large historic exploration dataset BP Minerals Jauru Stream Anomaly Over 7km 3 x Parallel
Slide 15: Corporate Information
C OR P O R A T E I NFOR M A T I ON MERIDIAN MINING C OR P OR A T E S T R UCT UR E M E R I DI A N M I NI NG PL C Shares Outstanding 485.5 m 18.4 m Options (CAD 0.35-1.10) Fully Diluted 503.9 m CAD 1.70 GBp 92.60 Share Price (5 May 2026) (5 May 2026) M A J OR S HA R E HOL DE R S Market Capitalization
Slide 16: Meridian Leadership
M E R I DI A N L E A DE R S HI P MERIDIAN MINING BOARD OF DIRECTORS BRUCE GILBERT ADRIAN JOHN MCLEOD CLARK MCARTHUR SKINNER Independent CEO & President & Independent Chair Director Director Director +30 years +25 years +35 years experience experience +25 years experience experience SUSANNE DOUG NEIL
Slide 17: Advancing Cabaçal Gold-Copper VMS Project to Production
A DV A NCI NG C A B A ÇA L G OL D - CO PPE R V M S PR O J E CT T O PR ODUCT I ON MERIDIAN MINING Cabaçal 2025 PFS completed Attractive economics Cabaçal DFS targeted Q4 2026 Advancing long-lead time orders Advanced permitting Preliminary Licence approved Strong balance sheet Funded beyond decision t
Slide 18: Appendix
APPENDIX meridianmining.co MNO MNO MRRDF N2E0 18
Slide 19: Meridian Advisory Board / Cabaçal History
M E R I DI A N A DV I SOR Y B OA R D MERIDIAN MINING CABAÇAL HISTORY BP MINERALS RIO TINTO Discovery Development Production Acquisition 1980-1984 1984-1986 1986-1991 1989-2005 AFONSO ROCKY G I L S ON J OH N FIGUEIREDO OSBORNE TE I X E I R A WAG H OR N Geologist Geologist Geologist Geologist + 50 yea
Slide 20: Structured Purchase Agreement to Acquire a 100% Beneficial Interest
S T R UCT U R E D P UR CHA SE A G R E E M E NT T O A CQ UI R E A 1 0 0 % MERIDIAN B E NE FI CI A L I NT E R E S T 1 MINING Protects Meridian shareholders equity and provides Vendors an interest going forward Vendor Payment Payments Requirements Vendor Payment (Shares) Status (USD) 1 On signing 25,00
Slide 21: PFS - Capital Cost Breakdown
P F S - C A PI T A L COST B R E A K DOWN 1 MERIDIAN MINING Phase 1 Initial Capital Phase 2 Expansion Capital Description Costs Costs (MBRL) (MUSD) (MBRL) (MUSD) Equipment 267.98 44.74 120.44 20.11 Materials 81.70 13.64 19.66 3.28 Construction and Erection 328.88 54.90 68.65 11.46 Dry Stack Tailings
Slide 22: PFS - Operating Cost Breakdown
P F S - O PE R A T I NG COST B R E A K DOWN 1 MERIDIAN MINING Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Item USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t USD/t Labour 1.64 1.84 1.84 1.21 1.21 1.21 1.21 1.21 1.21 1.21 1.17 G&A 3.10 3.10 3.10 1.82 1.
Slide 23: Project Economics Analysis Summary
P R OJ E CT E CONO M I CS A NA L YSI S S UM M A R Y 1 MERIDIAN MINING General LoM Total/Avg. Copper Price (USD/lb) 4.16 Gold Price (USD/oz) 2 119 Silver Price (USD/oz) 26.89 Mine Life (years) 10.6 Production LoM Total/Avg. Total Mill Feed Tonnes (kt) 41,703 Mill Head Cu Grade (%) 0.44 Mill Cu Recove
Slide 24: Cabaçal Mine & Plant Layout
C A B A ÇA L M I NE & PL A NT L A YO UT 1 MERIDIAN MINING Simple mine and plant layout Tailings optimised for trucking distance Two stage expansion plan with footings in place for 4.5mtpa production Notes: 1 See “Cabaçal Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study” - 10t
Slide 25: Process Flowsheet
P R OCE S S FL OWS HE E T 1 MERIDIAN MINING SIMPLE PROCESS FLOWSHEET WITH HIGH RECOVERIES Jaw crusher Primary grind ~200 microns Gravity circuit – 30% Au First copper flotation Re-grind ~30 microns Cleaner circuit delivers high grade, high recovery, clean concentrate ENGINEERED FOR EXPANSION SAG mil
Slide 26: Meridian Mining plc Contact
Meridian Mining plc Gilbert Clark Phone: +44 (0) 203 930 3145 (GMT) Corporate Address: Chief Executive Officer Email: info@meridianmining.net.br 8th Floor 4 More London, Riverside, London, United Kingdom, SE1 2AU meridianmining.co MNO MNO MRRDF N2E0 26