Slide 1: Advancing a world-class Cu porphyry in Namibia
INVESTMENT HIGHLIGHTS Advancing a world-class Cu porphyry in Namibia Simple, scalable, near term. Low risk, low cost, long life. Investor Presentation BMO Metals & Mining Conference / Feb 2026 Heye Daun: President & CEO
Slide 2: Forward Looking Statements & Disclaimer
FORWARD LOOKING STATEMENTS & DISCLAIMER This document has been prepared by Koryx Copper Inc. (“Koryx Copper” or the “Company”) solely for the use in the presentation being given in connection with the recipient’s evaluation of the Company which is defined and outlined further herein. This documentat
Slide 3: Investment Highlights – The World Class Haib Cu/Mo Project
INVESTMENT HIGHLIGHTS – THE WORLD CLASS HAIB Cu/Mo PROJECT 1. Technically Simple & Economically Sound: Large-scale, low cost, long life. Scalable, pre-PFS-stage open pit sulphide Cu/Mo/Au project located at low altitude in an ideal, infrastructure-rich area of southern Namibia close to the South Afr
Slide 4: A Proven Track Record of Success in Namibia
A PROVEN TRACK RECORD OF SUCCESS IN NAMIBIA ➢ Highly successful business partnership between Heye Daun (Namibian citizen) and Alan Friedman of more than 15 years. Delivered significant shareholder value through multiple successful mining exits. ➢ Proven leadership & technical team with strong Namibi
Slide 5: Accomplished / Proven Leadership & Technical Team
ACCOMPLISHED / PROVEN LEADERSHIP & TECHNICAL TEAM Executive Team Alan Friedman Heye Daun Chairman President & CEO • Toronto-based public markets entrepreneur with 25 years of experience in • Namibian mining engineer and company builder with 25+ acquisitions, financings, go-public transactions and M&
Slide 6: Clean & Simple Share Structure with Strong Financial Backing
CLEAN & SIMPLE SHARE STRUCTURE WITH STRONG FINANCIAL BACKING CAPITAL STRUCTURE SHAREHOLDER OVERVIEW SIGNIFICANT SHAREHOLDERS Share Price (February 20, 2026) C$3.14 Institutions, Ross Beaty Strategics, 52-Week Trading Range C$0.85 – 3.27 & HNW Basic Shares Outstanding 120.33m (est.) 26% Options Outst
Slide 7: Namibia – A World-Class Mining Jurisdiction
NAMIBIA – A WORLD-CLASS MINING JURISDICTION STABLE & MINING FRIENDLY ▪ Stable democracy, independent judiciary, diverse economy ▪ Transparent system of mineral & surface title ▪ Strong political and social support of mining with stated ambitions to develop mineral resources EXCELLENT INFRASTRUCTURE
Slide 8: Namibia – Tectono-Stratigraphic Setting
NAMIBIA – TECTONO-STRATIGRAPHIC SETTING ➢ Haib is a large, world-class, advanced open-pit Cu/Mo porphyry deposit with a long history of exploration & project development ➢ One of a few Paleoproterozoic porphyry copper deposit in the world (two in Namibia). Excellent pedigree (Falconbridge, Rio Tinto
Slide 9: Haib Mineral Resource Estimate
HAIB MINERAL RESOURCE ESTIMATE Tonnes Cu Grade Cu Content Cu Content August 2024 MRE at 0,25% cut-off grade Category (Mt) (%) (Mlbs) (kt) Indicated 414 0.35 3,216 1,459 Inferred 345 0.33 2,503 1,136 HAIB PROJECT NW-SE Longitudinal Section Looking TSXV:KRY 9 North-east 0m 250m 500m
Slide 10: Recently Reported Drill Results
RECENTLY REPORTED DRILL RESULTS HM117 HM112 184m @ 0.51% CuEq 602m @ 0.32% CuEq 16m @ 0.46% CuEq HM121 HM115 30m @ 0.51% CuEq incl. 272m @ 0.44% CuEq 495m @ 0.31% CuEq 30m @ 0.52% CuEq incl. 40m @ 0.50% CuEq incl. 284m @ 0.42% CuEq 38m @ 0.63% CuEq 0m 250m 500m
Slide 11: Haib Drill Plan (with recently reported drill holes)
HAIB DRILL PLAN (with recently reported drill holes) Upside Potential 1. Inclusion of all historical drilling since Oct 2024 2. Improved geological & structural modelling 3. Estimation of Mo & Au byproducts (after consistent MRE-wide by- product assaying) 4. Higher grade domains 5. Significant addit
Slide 12: Haib Copper Project: Aerial View Looking East
HAIB COPPER PROJECT: AERIAL VIEW LOOKING EAST Approximate Future Open Pit Outline TSXV:KRY 12
Slide 13: Koryx Technical Strategy: Deliver the New Haib
KORYX TECHNICAL STRATEGY: DELIVER THE NEW HAIB AS A WORLD CLASS Cu/Mo PROJECT 1. Right-size & Optimize: ➢ Complete met testwork, demonstrate techno-economic feasibility of conventional sulfide flotation process ➢ Investigate viable, novel processing techniques to enhance process flowsheet ➢ Deliver
Slide 14: Haib Copper Project: September 2025 PEA Highlights
HAIB COPPER PROJECT: SEPTEMBER 2025 PEA HIGHLIGHTS ➢ Large Scale and De-risked ➢ 28mtpa conventional Milling & Flotation (>0.225% Cu) + 7mtpa Heap Leach (>0.15% Cu) ➢ Conventional open pit with 1.8 stripping ratio ➢ PEA based on historical MRE, with significant future upside (pending completion of 5
Slide 15: Conceptual Processing Plant & Site Layout
CONCEPTUAL PROCESSING PLANT & SITE LAYOUT TSXV:KRY 15
Slide 16: Conceptual Process Flowsheet (Milling/Flotation & Heap Leach)
CONCEPTUAL PROCESS FLOWSHEET (MILLING/FLOTATION & HEAP LEACH) Milling & Classification ➢ Low-risk metallurgical process of crush/mill/flotation of the higher grade ROM Ore Crushing & Screening CPF in material producing a clean Cu/Mo/Au CGR Duty concentrate ➢ Additional Cu cathode production (~12% of
Slide 17: Ideal Infrastructure Location and Site Layout
IDEAL INFRASTRUCTURE LOCATION AND SITE LAYOUT Grid Power Existing Grid power close to site (to be upgraded) • Application for NamPower to conduct a capacity assessment to connect to the 220kV line 45km from the plant site • 150MW power demand sufficient grid power available from SA grid via Namibia
Slide 18: Indicative Development Schedule
INDICATIVE DEVELOPMENT SCHEDULE ➢ C$40m work program (55,000m of drilling, MRE Update, PFS, Technical Studies) ➢ Aiming to deliver a de-risked, significantly upsized PFS in 2026, with financing, permitting, DFS to be completed in 2027 2025 2026 2027 2028 PEA & RESO URCE T RADE - O FF S & PFS DFS, FE
Slide 19: Responsible Mining
RESPONSIBLE MINING Developing a sustainability plan and implementation roadmap That is materiality-driven and considers compliance, risk, stakeholder and investor expectations, best practices and business strategy • Develop responsible mining implementation roadmap Sustainability • Define Koryx's re
Slide 20: Share of Fiscal Revenues
SHARE OF FISCAL REVENUES ➢ Under the current mining fiscal regime Namibia captures ~67% of revenues ➢ ~20% of overall returns accrue to the capital providers (investors) ➢ The remaining ~13% of revenues is consumed by foreign operating and capital costs to develop & run the mine Revenue Breakdown pe
Slide 21: Koryx Valuation Benchmarking – P / NAV
KORYX VALUATION BENCHMARKING – P / NAV Copper Developers Junior Copper Producers Intermediate Copper Producers 1.50x 1.37x 1.27x 1.37x 1.19x 0.95x 0.87x 0.77x 0.85x 0.71x 0.61x 0.47x Developers Median: 0.42x 0.46x 0.39x 0.44x 0.45x 0.32x 0.38x 0.28x 0.31x 0.22x 0.27x 0.12x 0.06x 0.11x (ratio) Capsto
Slide 22: Investment Highlights – The New Koryx
INVESTMENT HIGHLIGHTS – THE NEW KORYX PEA-stage copper exploration and development company focused on advancing its 100% owned, advanced-stage Haib Copper Project in Namibia, whilst also building a portfolio of copper exploration licenses in Zambia. ➢ Highly Capable Team Multi-exit track record in c
Slide 23: Thank You
RECENT PRE-MINING INDABA 2025 SITE VISIT WITH INVESTORS & ANALYSTS THANK YOU TSXV:KRY 23 Picture taken during February 2025 Investor Site Visit
Slide 24: Peer Group Benchmarking and Equity Valuation
PEER GROUP BENCHMARKING AND EQUITY VALUATION TSXV:KRY 24
Slide 25: Copper Development Project Benchmarking
COPPER DEVELOPMENT PROJECT BENCHMARKING 0.60% Size Legend Arizona Sonoran 8 mt Cu Cactus ATEX Resources First Quantum Marimaca Faraday Copper Valeriano 5 mt Cu Haquira MOD Copper Creek 0.50% 3 mt Cu Southern Copper Bubble size represents contained Tia Maria M&I&I resource (mt Cu) Total Resource Grad
Slide 26: Haib Benchmarking – Low Grade Producing Copper Mines
HAIB BENCHMARKING – LOW GRADE PRODUCING COPPER MINES M&I COPPER RESOURCE GRADE (% Cu) PRODUCTION(1) (Cu ktpa) 123 99 92 449 57 74 102 40 48 75 43 37 229 117 0.41% 0.39% 0.35% 0.33% 0.29% 0.29% 0.28% 0.27% 0.24% 0.24% 0.24% 0.24% 0.21% 0.14% Bingham El Abra Haib Cerro Verde Pinto Valley Lomas Bayas H
Slide 27: Haib Benchmarking – Capital Intensity
HAIB BENCHMARKING – CAPITAL INTENSITY (MAJOR AND NON-MAJOR CONTROLLED PROJECTS) LOM CAPITAL INTENSITY (US$/ktpa Cu) Technical Report >3 Years 45,000 Connection to a Major 40,000 35,000 30,000 (US$/ktpa Cu) 25,000 20,000 $17,702 15,000 10,000 5,000 - Michiquillay MOD Schaft Creek Haquira Arctic Antle
Slide 28: Haib Benchmarking – Positioning on Industry Copper Cost Curve
HAIB BENCHMARKING – POSITIONING ON INDUSTRY COPPER COST CURVE $6.00 $5.00 $4.00 Haib AISC AISC (US$/lb Cu) $3.00 (first 10 years): US$2.02/lb $2.00 $1.00 -- 25% - 50% - 75% - - - - ($1.00) ($2.00) Paid Copper (mm lbs Cu) Source: Wood Mackenzie 2026E Copper Cost Curve Note: Cost curve shown on a by-p
Slide 29: Haib Regional Exploration Potential
HAIB REGIONAL EXPLORATION POTENTIAL Regional Targets Satellite imagery and hyperspectral data with various historical regional datasets, including stream sediment & soil geochem • Extensive historical regional (point data) and IP gridded data (larger area and single lines) exploration, particularly
Slide 30: Process Flow Sheet Development
PROCESS FLOW SHEET DEVELOPMENT DRA’s advanced pre-tax cash flow model was used to compare multiple options & trade-off analyses to optimise the envisaged processing flowsheet TSXV:KRY 30
Slide 31: Zambia Copper Belt Strategy
ZAMBIA COPPER BELT STRATEGY ➢ 2 large licences under Earn-in JV, 51% ownership ➢ Luanshya West (54km2) o Previous work includes soil geochemistry, ground geophysics (IP/Res) and regional magnetics interpretation o Detailed airborne mag survey & add. geochem completed ➢ Mpongwe (691km2) o Initial reg
Slide 32: Peer Group Supporting Data by Project and Study Effective Date
PEER GROUP SUPPORTING DATA BY PROJECT and STUDY EFFECTIVE DATE • Cactus, Arizona Sonoran 10/24/24 Presentation • MOD, Marimaca 8/25/25 DFS presentation • Santo Tomas, Oroco PEA, effective date 8/15/24 • Cascabel, Solgold PFS, effective date 12/31/23 • Costa Feugo, Hot Chili PFS, effective date 3/27/