Collective Mining Ltd · TSX:CNL
Collective Mining — Investor Presentation (April 2026)
46 slides from Collective Mining's investor presentation, April 2026
Slide 1: Corporate Presentation April 2026
——~ (Wy COLLECTIVE =a ME NeLN: G2 - Corporate Presentation ~ Z J _ _X @Collectiveminit | @Ariski73 (Ari Sussman) ) NYSE &TSX: CNL ge ° = ’ i wil py ge at Y 6 r Soff April 2026 ee
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the Company's continuous disclosure documents. All amounts expressed in Canadian $ unless otherwise stipulated. Forward-looking Statements This p
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 92.3M Analyst: Varun Arora, MBA Target price: C$40.00 Stock Options 5.0M Firm: BMO Capital Markets Fully Diluted Shares Outstanding 97.3M Analyst: Andrew Mikitchook Target price: C
Slide 5: Board of Directors and 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 Mining for $2 billion. Raised over $1 billion for various mining related leading global g
Slide 6: Colombia: A Well Established Mining Jurisdiction
Colombia: A Well Established Mining Jurisdiction Cerro Matoso Project Company Commodity Stage Type Cerrejón CoreX Cerro Matoso Ni Production Open-pit Holdings El Descanso Cordero Cerrejón Glencore Coal Production Open-pit Buriticá San Antonio El Descanso Drummond Coal Production Open-pit Segovia El
Slide 7: 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 7
Slide 8: Operating in an Established Mining Camp
Operating in an Established Mining Camp Located Contiguous to a Multi-Million Ounce Producing Mine Option to earn 100% interest in the Guayabales and San Antonio projects. Located next to Aris Mining’s multi-million-ounce Marmato project which is currently in construction. District never consolidate
Slide 9: Guayabales Project
2 _Guayabales Project 4, | (Wy COELECTIVE — MT NEN CG ————
Slide 10: Guayabales: Three Targets to be Drilled in 2026
Guayabales: Three Targets to be Drilled in 2026 (up to 100,000 Metres) 10 permitted & operating mines in a 3km area within an established mining camp. Multiple discoveries made through reconnaissance drilling since 2022. 165,000+ meters of drilling completed. Please refer to the appendix (pages 33 t
Slide 11: Deep Drilling Aligns with Potential Future Development
Deep Drilling Aligns with Potential Future Development Please note that no engineering studies have been commissioned to assess the viability of the tunnel and that the image depicted is included for illustrative purposes only. Please refer to the appendix (pages 33 to 46) for the individual metal b
Slide 12: Apollo System: Large-Scale & Growing
Apollo System: Large-Scale & Growing; 111,000m (245 holes) Completed One Large System with Two Different Host Rocks • Breccia system with shallow bulk tonnage Au-Ag- Cu-W mineralization located above a deeper Reduced Intrusion Related System (Au-w/ minor Bi-Te) • Hanging Wall Vein System: Sheeted ve
Slide 13: Apollo System Section: High-Grade Continuity from Surface
Apollo System Section: High-Grade Continuity from Surface Please note that no engineering studies have been commissioned to assess the viability of the tunnel and that the image depicted is included for illustrative purposes only. Please refer to the appendix (pages 33 to 46) for the individual meta
Slide 14: Upper Apollo System: High-Grade Continuity from Surface
Upper Apollo System: High-Grade Continuity from Surface Three different metal rich areas over top 1,000m from surface Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 14
Slide 15: Ramp Zone: High-Grade and Growing Rapidly
Ramp Zone: High-Grade and Growing Rapidly • High-grade Reduced Intrusion Related Gold System discovered at Apollo’s depth • Up to six drill rigs dedicated to the Ramp Zone in 2026 • Highest grade intercepts to date are the deepest drilled • Open in all directions at depth within the Apollo breccia b
Slide 16: Ramp Zone: Plan View; Significant Upside Potential
Ramp Zone: Plan View at 750 MASL; Significant Upside Potential • Only 300m of up to 1,500m of the outer breccia donut has been tested to date for Ramp Zone style mineralization • Initial hole to the western side of the breccia donut completed; assays pending • 2026 drilling will test all around the
Slide 17: Ramp Zone: 310m Vertical Confirmed
Ramp Zone: 310m Vertical Confirmed; Highest Grades in Deepest Holes • 2026 drilling to test Ramp Zone down to at least to 400MASL • Highest grades to date in the zone at the deepest elevations. Will it continue? 17
Slide 18: Apollo vs Marmato: Two Giants Side by Side
Apollo vs Marmato: Two Giants Side by Side **Please refer to disclaimer slide #2 for cautionary statement. 18
Slide 19: Apollo: Hanging Wall Vein Zone
Apollo: Hanging Wall Vein Zone; Potential for Big Growth in 2026? Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 19
Slide 20: Trap System: Second Major Discovery
Trap System: Second Major Discovery; Drilling in Q2 2026 Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. Major drill program to begin in Q2 2026. High-grade sheeted CBM vein system discovery. Modelling points to a poten
Slide 21: San Antonio Project
- San Antonio Project YSE & TSX: —— MI NIN G—— 3 fe sy. i = NY) COLLECTIVE
Slide 22: 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. 22
Slide 23: San Antonio: High-Grade Veins Sitting Above a Porphyry
San Antonio: High-Grade Veins Sitting Above a Porphyry Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 23
Slide 24: San Antonio: High-Grade Vein Discovery with Significant Dimensions
San Antonio: High-Grade Vein Discovery with Significant Dimensions and Open Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 24
Slide 25: Upcoming Catalysts: Up to 100,000 Metre of Drilling in 2026
Upcoming Catalysts: Up to 100,000 Metre of Drilling in 2026 Guayabales Project (Up to 14 Drill Rigs) Apollo: Drilling focused on expanding the 1 high-grade Ramp Zone at depth, the Northern Hanging Wall System and infill Apollo. Trap: Surface work vectoring to the porphyry 2 source ahead of drilling
Slide 26: 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 27: 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 28: Appendix
: a» Discovering Colombia’s Next World-Class Mineral Depo i ®, www.collectivemining.com > Xx @CollectiveMini1 Xx “@Ariski73 (Ari Sussman) COLLECTIVE MANNS iz
Slide 29: Guayabales: A Major Complex with Significant Dimensions
Guayabales: A Major Complex with Significant Dimensions Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 29
Slide 30: Apollo System: Select Drill Results
Apollo System: Select Drill Results Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 30
Slide 31: Apollo: Outcropping in High-Grade Oxide Mineralization
Apollo: Outcropping in High-Grade Oxide Mineralization High-Grade Au-Ag-Cu-Wo3 System Please refer to the appendix (pages 33 to 46) for the individual metal breakdown used in the metal equivalent grade calculation. 31
Slide 32: Plutus Target: Deep Drilling Planned
Plutus Target: Deep Drilling Planned Please refer to the appendix (pages 33 to 46) 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 approximatel
Slide 33: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 10: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % Pb % AuEq g/t AgEq g/t TRC-7A1 172.65 632.25 0.92 9 - 0.13 0.13 1.10 PNC-22 369.35 136.45 0.97 20 0.04 0.002 1.31 3 APC104-D1 107.10 534.40 2.
Slide 34: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 11: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % Pb % AuEq g/t BOXC-76 73.40 33.30 0.91 50 - 0.10 - 1.52 BOXC-106 8.50 55.00 0.45 59 - 0.23 - 1.22 BOXC-56 168.35 11.55 3.57 19 - 0.16 0.12 3.7
Slide 35: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 13: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % WO3 % AuEq g/t WO3Eq % APC-3513 7.00 359.15 1.84 48 0.48 0.002 3.32 APC-6414 33.40 451.40 1.48 57 0.26 0.001 2.67 13 APC-31 4.90 384.70 1.17 4
Slide 36: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation 16WO Eq% is calculated as follows: (WO3 (%) x 0.72) + (Au (g/t) x 0.22 x 0.97) + (Ag (g/t) x 0.003 x 0.85) + (Cu (%) x 0.31 x 0.95) utilizing metal prices of WO3 – US$14.75/lb, Au – US$2,200/oz, Ag – US$33/oz
Slide 37: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 19: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % AuEq g/t AgEq g/t OLCC-323 61.7 301.9 0.89 12 0.03 0.003 1.11 APC-100D24 22.50 75.45 0.62 47 80 APC-100D24 81.00 13.00 2.64 169 315 APC-140D25
Slide 38: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation 26 AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (Zn (%) x 0.43 x 0.85) utilizing metal prices of Ag – US$30/oz, Zn – US$1.25/lb, Cu – US$4.2/lb
Slide 39: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation 29 AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.016 x 0.88) + (Cu (%) x 1.79 x 0.90)+ (Mo (%) x 11.62 x 0.85) utilizing metal prices of Cu – US$3.85/lb, Ag – US$24/oz, Mo – US$25/lb
Slide 40: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 24: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % Pb % AuEq g/t AgEq g/t 34 SAC-33 159.70 1.30 9.89 11 0.02 - 0.11 - 9.40 SAC-2234 628.00 1.55 16.75 14 0.01 - - - 15.79 SAC-2234 679.30 1.25 14
Slide 41: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 29: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % Pb % WO3% AuEq g/t AgEq g/t XTC-136 121.10 12.85 1.82 361 0.02 0.53 503 APC-8137 130.00 111.25 0.83 10 0.03 0.002 1.00 APC-7237 2.00 519.10 2.
Slide 42: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation 39AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (Zn (%) x 0.43 x 0.85) utilizing metal prices of Ag – US$30/oz, Zn – US$1.25/lb, Cu – US$4.2/lb
Slide 43: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % Zn % WO3 % AuEq g/t 47 APC104-D1 107.10 534.40 2.16 32 0.09 0.21 2.70 47 within 107.10 150.55 4.71 87 0.22 0.50 6.16 50 APC105-D1 469.60 75.80 8.06 15 8.01 5
Slide 44: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation 45 AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.016 x 0.88) + (Cu (%) x 1.79 x 0.90)+ (Mo (%) x 11.62 x 0.85) utilizing metal prices of Cu – US$3.85/lb, Ag – US$24/oz, Mo – US$25/lb
Slide 45: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 31: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % WO3 % AuEq g/t 52 APC-60 41.60 557.85 0.74 59 0.33 0.001 2.10 APC-3153 4.90 384.70 1.17 43 0.37 0.002 0.08 2.62 53 Incl. 4.90 42.35 4.81 23 0.09 0.
Slide 46: Details of Metal Composites for Equivalent Grade Calculations
Details of Metal Composites for Equivalent Grade Calculations Disclosed in the Presentation Slide 32: Hole # From (m) Length (m) Au g/t Ag g/t Cu % Mo % AuEq g/t DOC-254 0 104.00 1.21 12 0.03 0.002 1.32 PNC-555 4.40 304.60 0.58 9 0.03 0.003 0.76 PNC-255 369.35 136.45 0.97 20 0.04 0.002 1.31 56 PNC-7
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