Caravel Minerals Limited · ASX:CVV
Caravel Minerals — RIU Gold Coast Investment Showcase 2026
22 slides from Caravel Minerals's conference presentation, Jun 12, 2026
Slide 1: Developing Australia's Next Copper Project
ASX: CVV For personal use only Developing Australia’s Next Copper Project RIU Gold Coast June 2026 1
Slide 2: Forward Looking and Cautionary Statements
Forward Looking and Cautionary Statements Caravel Minerals Limited (Caravel or the Company) This presentation should be considered in its entirety. If you do not understand available to view on the Company’s website at www.caravelminerals.com.au. The the material contained in this presentation, you
Slide 3: The past months have de-risked the Caravel Copper Project
The past 24 months have de-risked the Caravel Copper Project Methodically progressing to a Definitive Feasibility Study For personal use only APPROVALS & ENVIRONMENT TECHNICAL DE-RISKING CORPORATE & COMMERCIAL ✓ Mining license granted ✓ Mine plan updated and ore ✓ Land agreements signed reserve veri
Slide 4: CVV Corporate Snapshot
CVV Corporate Snapshot A$151m A$0.27 ~559 m A$9.5 m For personal use only MARKET CAP SHARE PRICE SHARES ON ISSUE CASH (31 MAR 2026) SHARE PRICE · LAST 12 MONTHS MAJOR SHAREHOLDERS $0.60 6.0 Paradice, 8.6% Glenvar, $0.50 5.0 3.5% Board & Management, $0.40 4.0 10.0% Volume Traded (M) Share Price (A$)
Slide 5: Extensive Mining & Project Development Capabilities
Extensive Mining & Project Development Capabilities Highly experienced Board, leadership and management team with a track record of delivering shareholder value BOARD & LEADERSHIP For personal use only Wayne Trumble Don Hyma Alasdair Cooke Richard Monti Greg Lilleyman Dan Davis Non-Executive Chairma
Slide 6: Caravel Copper Project
Caravel Copper Project Australia’s largest undeveloped copper deposit and the fourth-largest copper discovery worldwide in the last 14-years 3.03 Mt For personal use only CONTAINED COPPER (RESOURCE) 1,277 Mt @ 0.24% Cu plus Mo, Au, Ag 1.42 Mt 30 km CONTAINED COPPER (RESERVE) MINERALISED TREND 583Mt
Slide 7: Globally Significant Resource
Globally Significant Resource Caravel sits comfortably as a globally significant resource amongst feasibility-stage peers Rank Project Company Country DFS Status For personal use only 1st El Arco SCC Mexico 2022 17.7 2nd Frieda River PanAust PNG 2018 12.6 3rd Cascabel SolGold/Jiangxi Ecuador In prog
Slide 8: Globally Significant Mine Life
Globally Significant Mine Life Initial 25+ year life of mine will be the 6th largest globally amongst undeveloped copper projects Rank Project Company Country Study For personal use only 1st Copper Creek Faraday Copper USA 2023 PEA 32 Years 2nd Berg Surge Copper Canada 2023 PEA 30 Years 3rd North Is
Slide 9: Resource – Simple Geology & Large-Scale
Resource – Simple Geology & Large-Scale The Bindi deposit is a large open pit resource that remains open at depth For personal use only Measured & Inferred Total Indicated Cu 1.70 Mt 0.24% 1.33 Mt 0.23% 3.03 Mt 0.24% Copper Au 0.50 Moz 0.02 g/t 0.39 Moz 0.02 g/t 0.89 Moz 0.02 g/t Gold ~700Mt in M&I
Slide 10: Mining - Conventional Bulk Mining
Mining - Conventional Bulk Mining Delivers a low cost per lb through scale and cost efficiency For personal use only 583 Mt reserve sufficient for two decades of mining Tailings Storage Low cut-off grade enables simple bulk mining Waste Rock Formation Ultra-class mining fleet with large bench
Slide 11: Processing - Proven, Simplified Flowsheet
Processing - Proven, Simplified Flowsheet De-risked to protect the principal revenue stream For personal use only Admin, warehouse, workshop, fueling Primary crusher and stockpile Conventional design 1 Lower construction risk Standard process equipment 2 Understood by operating teams Simplification
Slide 12: Infrastructure & Logistics - in a Tier Jurisdiction
Infrastructure & Logistics - in a Tier 1 Jurisdiction Project favorably located close to existing world class infrastructure POWER For personal use only Access to 132kV grid power from a decarbonising WA State (SWIS) grid WATER Borefield ~60km west via pipeline uses non agricultural saline water for
Slide 13: Copper Market and M&A
For personal use only Copper Market and M&A 13
Slide 14: The copper industry is transitioning
The copper industry is transitioning Grades are declining and discoveries are few Historic & Forecast – Global Average Grade of Mined Copper Copper Discoveries vs. Exploration Spend For personal use only ■ Steady, long-term decline: from 1.60% in 1990 to ~0.87% in 2022 ■ Discovery rate has collapsed
Slide 15: Copper Has Re-Rated Structurally Higher
Copper Has Re-Rated Structurally Higher Consensus now sees prices above US$5.50/lb to 2030 - far above the 2024 view 2020s: demand led by renewables, power grids & data centres For personal use only $7 $5.50 $6 2004 - 2015: China urbanisation & industrialisation outpace a decade of mine under-invest
Slide 16: Copper Faces a Structural Supply Deficit
Copper Faces a Structural Supply Deficit Demand to ~43 Mtpa by 2035 outpaces declining supply - only major new projects can close the gap 45.0 For personal use only —— Primary demand 42.5 - - - Base case supply —— Total potential supply (incl. risked/speculative projects) ▮ Growing structural defici
Slide 17: Pathway to Vertical Supply Chain
Pathway to Vertical Supply Chain ~67% of global smelting capacity is in China, India and Japan TWO CLEAN CONCENTRATES Key Smelter Destinations For personal use only • A 20-22% Cu concentrate (1.3 g/t Au, 85 g/t Ag credits) with no impurities. • A 52% Mo concentrate. CHINA COPPER CONCENTRATE VERTICAL
Slide 18: Significant value with leverage to copper price
Significant value with leverage to copper price Strong leverage to a rising copper price For personal use only Scenario PFS Base Case Copper Consensus Price Cu US$4.00/lb · Mo US$20/lb · Au US$1,700/oz · Ag US$18/oz Cu US$5.50/lb Free Cash Flow A$6.6 B A$13.0 B Pre-tax NPV (7%) A$2.0 B A$4.7 B Pre-t
Slide 19: First Concentrate Production Aligned with Tight Copper Market
First Concentrate Production Aligned with Tight Copper Market Key Milestones in the next 18 Months Pathway to First Concentrate For personal use only Q2 2026 Updated Ore Reserve Statement 2026 2027 2028 2029 2030 2031 Reserve update reflecting current resource model Jan Feasibility Study Q3 2026 DFS
Slide 20: Key Takeaways of the Caravel Investment Case
Key Takeaways of the Caravel Investment Case The right commodity, the right place, the right time For personal use only Proven Mining & Long Life Resource Tier-1 Location Processing 25+ year mine life on a 1.28Bt 150 km from Perth in WA, on private Simple bulk open-pit, low strip ratio, resource — g
Slide 21: Thank you
FOR MORE INFORMATION ASX:CVV caravelminerals.com.au For personal use only Thank you 21
Slide 22: Mineral Resource & Ore Reserve
A P P E N D I X Mineral Resource & Ore Reserve For personal use only Cu & Mo Mineral Resource Ore Reserve 0.10% Cu cut-off grade · reported 13 November 2023 0.10% Cu cut-off · based on Nov 2021 resource — update due Q2 2026 CLASS Mt Cu % Mo ppm Cu (t) Mo (t) DEPOSIT CLASS Mt Cu % Cu (Mt) Measured 15
Caravel Minerals — RIU Gold Coast Investment Showcase 2026 on 6ix