Highland Copper Co., Inc. · TSXV:HI
Highland Copper — Investor Presentation (September 2026)
22 slides from Highland Copper's investor presentation, September 2026
Slide 1: Fully Permitted U.S. Domestic Copper
TSX.V: HI OTCQB: HDRSF Fully Permitted U.S. Domestic Copper Targeting 2027 Construction Decision Corporate Presentation – September 2026
Slide 2: Disclaimer
Disclaimer Cautionary Statement The reader is advised that a PEA is preliminary in nature and is intended to provide only an initial, high-level review of the Project potential and design options. The PEA mine plan and economic model include numerous The data contained herein is provided for informa
Slide 3: Targeting 2030 Production
Targeting 2030 Production Copperwood stands apart as one the most advanced U.S. domestic copper developers targeting a construction decision in 2027. 3.7 Billion Pound 1.8 billion pound M&I resource (54 million Copper Resource tonnes at 1.51% grade), balance inferred Fully Permitted / Copperwood is
Slide 4: U.S. Jurisdictional Advantage
U.S. Jurisdictional Advantage With critical mineral prioritization, federal capital is being made available to near-dated copper developers. At the same time, Michigan is one of very few jurisdictions both actively permitting and considering incentivizing mining. Copper Designated $50 Million Grant
Slide 5: Lassonde Curve
Lassonde Curve Highland Copper is advancing beyond the permitting phase with a fully permitted, construction-ready project supported by a US$250 million EXIM LOI, positioning the Company at a key value inflection point as it advances toward financing and H2 2026 Highland is fully construction. Closi
Slide 6: US$50M Grant Approved From State of Michigan
US$50M Grant Approved From State of Michigan Final approval received from the Michigan Strategic Fund on August 25th 2026 for US$50 million in performance-based grant funding. No further State of Michigan approvals are required. • US$50M under Strategic Site Readiness Program MSF / SSRP “This decade
Slide 7: U.S. EXIM $250 Million LOI
U.S. EXIM $250 Million LOI Positive momentum and visibility in Washington DC, highlighted by receipt of $250 million LOI from U.S. EXIM for project financing. Initiating competitive project financing process. U.S.EXIM / Federal • LOI for $250 million project financing Support • Ongoing discussion wi
Slide 8: Copperwood Overview
Copperwood Overview TSX.V: HI | OTCQB: HDRSF 8
Slide 9: Copperwood at a Glance
Copperwood at a Glance Copperwood is fully permitted, well understood and has a modest initial capital requirement. Highlights Key Statistics Permitting Unit FS → Fully permitted project on private land → All permits in good standing Mine life years 11 Mineralization Plant throughput tpd 6,800 → Min
Slide 10: State Permitting on Private Land
State Permitting on Private Land All permits to construct and operate are in hand. Demonstrated capacity to amend/renew permits as needed. Copperwood Permit Type Project Part 31: Water Resource Protection, NPDES Permit Part 315: Dam Safety Permit Part 325: Great Lake Submerged Land Permit Part 303:
Slide 11: Significant Scale MI&I Resource of 3.7 Billion Pounds
Significant Scale MI&I Resource of 3.7 Billion Pounds The initial 11 year mine life is based on 54 million tonnes Measured and Indicated. There remains significant potential to increase mine life by infill drilling the additional 79 million Inferred tonnes. 1.9 Billion Pounds Inferred (79.1 million
Slide 12: 1.6% Additional Copper Recoveries
1.6% Additional Copper Recoveries The simplified flow sheet, which also incorporated ultrafine flotation technology (Glencore Jameson cells), increased copper recoveries from 86.0% to 87.6%, while also lowering processing cost per tonne. Higher recoveries and lower processing costs More efficient co
Slide 13: Mine Plan Optimizations
Mine Plan Optimizations Updated Feasibility Study to consider key optimizations identified in June 2026 news release Lower Cut-off Impact Upper Copper Sequence Geotechnical Assumptions Impact on mine life at long-term copper Cut-off and ore sorting impact of Potential to impact pillar size and mine
Slide 14: Project Economics / Leverage to Copper Price
Project Economics / Leverage to Copper Price A 25% increase in copper price (from $4.00 to $5.00 per pound) triples Copperwood NPV to $507 million, with further non-linear NPV increases at $6.00 copper price. Metric* $4.00 Copper Price $5.00 Copper Price $6.00 Copper Price After-tax NPV 8% $168 mill
Slide 15: Strategic White Pine Divestment
Strategic White Pine Divestment The $30 million divestment of White Pine strengthens the balance sheet, funds Copperwood to a construction decision and puts sole focus on the near-dated, fully permitted Copperwood project. Before Transaction Measure After Transaction $11.7 million Debt1 Nil $7.5 mil
Slide 16: Capital Structure Analyst Coverage
Backing from Key Mining Funds 28% 33% 736 million Orion Mine Finance Other Shareholders shares outstanding Capital Structure 41 million options o/s at December 2025 19.9% ~$24.0 million cash (post White Pine sale) Condire Investors Nil Debt Eliminated January 2026 1% Management and Directors 12% Ana
Slide 17: Balanced Board
Balanced Board Barry O’Shea Jonathan Cherry David Tennant CEO, Director Independent Director Independent Director Former Partner M&A CEO, Perpetua McCarthy Tetrault LLP Melanie Miller Iain Farmer Stephen Hicks Independent Director Director Highland Chair VP Corporate CEO, JM Longyear Former GM Hemlo
Slide 18: Operational Execution Drives Upcoming Catalysts
Operational Execution Drives Upcoming Catalysts Achievements Upcoming Catalysts Q3 2025 - Ultrafine Flotation Recovery Improvement H2 2026 - Conclusion on Mine Plan Review Q3 2025 - US EXIM $250 million Letter of Intent H2 2026 - Review of Federal Grant Opportunities Q4 2025 - Completion of Phase 1
Slide 19: Appendix
Appendix Highland Copper Corporate Presentation 19
Slide 20: Mineral Resource Estimate
Mineral Resource Estimate* Copper Silver Copper Silver Notes on Mineral Resources: 1) Mineral Resources are reported Resource Tonnage using a copper price of $4.00/lb and a silver price of $25/oz. Deposits Grade Grade Contained Contained Category (M t) 2) A payable rate of 96.5% for copper and 90% f
Slide 21: Mineral Reserves Estimate
Mineral Reserves Estimate* Tonnes Cu Grade Ag Grade Cu Contained Ag Contained Copperwood (MT) (%) (g/t) (M lbs) (M oz) Proven 18.2 1.49 4.47 597 2.6 Probable 7.5 1.34 2.56 222 0.6 Proven & Probable 25.7 1.45 3.91 820 3.2 Notes on Mineral Reserve Estimates: 1) The Mineral Reserves were estimated usin
Slide 22: Highland Copper
Highland Copper
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