Canadian Phosphate Limited · ASX:CP8
Canadian Phosphate — Investor Presentation (May 2026)
24 slides from Canadian Phosphate's investor presentation, May 2026
Slide 1: Developing Canada's only advanced sedimentary rock phosphate platform
Developing Canada's only advanced sedimentary rock phosphate platform C O MP AN Y PR E S E N T AT IO N - MA Y 20 26 Daniel Gleeson, CEO & Managing Director daniel.gleeson@canadianphosphate.com Confidential & Proprietary
Slide 2: Disclaimer
D IS C LAI ME R This presentation has been prepared and issued by Canadian Phosphate Ltd (“the Company”) to inform interested parties about the Company and its progress. The material contained in this presentation sets out general background information on the Company and its activities. It does not
Slide 3: Advancing Canada's only developed sedimentary phosphate deposits
C O MP AN Y O VE R V IE W Advancing Canada’s only developed sedimentary phosphate deposits. CURRENT BU SINESS Providing a secure, high- quality domestic source of Hold the only advanced sedimentary rock phosphate deposits in Canada rock phosphate from Canada’s only advanced Ready to scale existing p
Slide 4: Board and Capital Structure (ASX Listed)
LE A D E R S H IP Board and Capital Structure (ASX Listed) CAPITAL STRUCTURE 347M Shares on issue $0.18 Share price (at 28 May 26) DANIEL GLEESON STUART MAL WEBER PETER DOYLE $62.4M Market cap (at 28 May 26) CEO & Managing RICHARDSON Non-Executive Non-Executive Director Non-Executive Director Direct
Slide 5: Industry Overview: $35B Critical Mineral Market
IN D US TR Y O V E R V IE W Phosphate underpins global $35B agriculture and fast growing LFP Global rock phosphate market in 2025, growing at a 5.8% CAGR to $54.4B by 20334 battery demand. ~70% A finite mineral, phosphate is used to create phosphoric acid, it is a core component of a multi-billion-d
Slide 6: Canada is 100% import-dependent for this critical mineral
PR O B LE M Canada is 100% import- dependent for this • Fertilizer supply chains are increasingly politicized GEO- critical mineral. POLITICAL • U.S. tariffs, Middle East instability, Russia-Ukraine war tighten supply and increase shipping & input cost risk SI TUATION • China’s export limits tighten
Slide 7: Building Canada's only integrated domestic phosphate supply chain
S O LUT IO N Building Canada's High-confidence only integrated phosphate assets domestic phosphate supply chain. →Onshore, domestic phosphate production →Large-scale, surface-expressed sedimentary deposits →Cost-effective access to key processing inputs (Sulfur & Natural Gas) →Multiple high-value en
Slide 8: Two active projects in BC, Canada
AS S E T S Two active projects FIRST TWO LO CATIONS in BC, Canada Wapiti Fernie Tumbler Ridge, British Columbia, Location BC, Canada Canada Ownership state CP8-owned CP8-owned Acreage / Size 11,382 ha 10,775 ha Exploration target of Work in 2026 and 2027 Resource Estimate 20-28 mt* planned Wapiti Dr
Slide 9: Owners of high-confidence phosphate resources — drilling to validate and classify
D E - R IS K E D R E S O UR CE BA SE Owners of high-confidence phosphate resources — drilling to validate and classify, not to discover. Our deposits sit within large-scale sedimentary basins with surface-expressed mineralization and strong geological continuity — the characteristics that define a v
Slide 10: Laying the groundwork for accelerated mine development
MI LE S TO N E S Laying the groundwork for accelerated mine development. Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 Q4 2027 • Stage 1 Exploration • Update MRE • Complete • Initiate PEA/PFS • Industrial Mineral • Initiate DFS studies (3000-5000m • Environmental metallurgical / (100,000t SSP faci
Slide 11: Flexible, phased development enabling early revenue and long-term upside
PH A S E D PR O C E S SI N G & E XP AN SIO N PA T H S Flexible, phased development enabling early revenue and long-term upside. No Plant Crushed Rock Fertilizer Phase 1 Required (5% P2O5) MINIMAL CAPEX Phase Single Super Dry Fertilizer Access to W ap iti 2 Phosphate Plant (20% P2O5) economical sulfu
Slide 12: A structurally advantaged, fully integrated phosphate platform
O UR P LA TF O R M ADV AN T A GE S A structurally advantaged, fully integrated phosphate platform built for cost, scale, and supply security. Regional Supply Structural Cost & Fully Integrated, Low-Cost Demand Tailwinds & Scalability Sourcing Advantage Production Model & Policy Support → The only do
Slide 13: Low Capex SSP plant bringing efficient vertical integration to Wapiti & Fernie
PH A S E 2 : S IN G LE S UP E R PH O S PH A TE ( S SP ) PLA N T Low Capex SSP plant bringing efficient vertical integration to Wapiti & Fernie. The SSP plant produces high-level phosphate and other nutrient-rich ingredients that fulfill strong Canada agriculture demand. P2O5 Nitrogen Sulfur Calcium
Slide 14: Building Canada's first domestic sedimentary phosphate supply chain
Only domestic sedimentary phosphate in Canada Building Canada's first High-confidence, surface-exposed resource domestic sedimentary phosphate supply chain, Clear path from exploration to scalable production from the ground up. Where energy, infrastructure, and inputs align for an economical phospha
Slide 15: Appendix
Appendix © 2026. © 2026. Confidential Confidential & Proprietary. & Proprietary. 15
Slide 16: Wapiti Overview
W AP IT I O V E R VI E W 2026 start to update the Mineral Resource Estimate and confirm syncline depth. THE LOCATION • 100% held by CP8 • JORC Compliant Exploration Target, 2025: 20.2-28.6Mt @ 15.96% P2O5 over 11.5km strike* • Further 16.5km strike and central syncline area remain open (total strike
Slide 17: Wapiti Exploration Target
W AP IT I E XP LO R A TI O N T AR G E T * Exploration of the East and West limbs and the upper phosphate zone. Phosphate Lower Upper P2O5 P2O5 Domain Range Mt Range Mt Main Zone— 11.0 17.78% 16.8 17.85% East Limb Main Zone— 7.7 13.00% 10.2 12.95% West Limb Main Zone—East 0.7 15.44% 0.7 15.44% Limb (
Slide 18: Fernie Overview
F E R N I E O VE R V IE W Targeted bulk sampling in 2026 followed by drilling in 2027. THE LOCATION • 100% held by CP8 • Tenures hold known phosphate strive over 60km—further exploration required • Bulk sample completed at Marten site (2022)—8,000t averaging 22.5% P2O5 TARGETED NEXT STEP S • Barnes
Slide 19: Phosphate Demand
PH O S P HA T E D E MA N D Consistent demand due to the rapid rise in LFP batteries and the need for fertilizer for global food production. FERTILIZER DEMAND LFP BATTERY DEMAND Structural food, soil replenishment, and renewable fuel Global LFP battery adoption is growing rapidly, creating growth tre
Slide 20: Mining Exploration Process
MI N IN G E XP LO R A TI O N PR O C E S S Advancing our rock phosphate mining sites into initially phase 2 growth. 1. Land 2. Baseline Studies 3. Initial 4. Resource Definition 5. Engineering Acquisition & Permitting Exploration & Feasibility Studies & Development Acquire mineral rights Geological a
Slide 21: Wapiti Conceptual Exploration Target
OVERVIEW Wapiti Conceptual Exploration Target* Phosphate Domain Lower Range Mt P2O5 (%) Upper Range Mt P2O5 (%) Main Zone – East Limb 11.0 17.78 16.8 17.85 Main Zone – West Limb 7.7 13.00 10.2 12.95 Main Zone – Wapiti Syncline East limb 0.7 15.44 0.7 15.44 Main Zone – Wapiti Syncline West 0.4 19.93
Slide 22: Wapiti Exploration Target
O VE RV I EW Wapiti Exploration Target The Company’s Exploration Target wax prepared by independent consultant, Dahrouge Geological Consulting Ltd (Refer to ASX announcement dated 17 July 2025). The Exploration Target outlines a potential 20.2 to 28.6 million tonnes grading 15.76% to 15.96% P₂O₅ acr
Slide 23: Exploration Target Development
O V E R V IE W Exploration Target Development Wapiti’s Exploration Target is based on 1980, 1985, 1987 and 2008 trench/channel samples as well as drilling completed in 1980, 2012 and 2013. Dahrouge completed a 100% validation of the existing database which included verification of drillhole/trench l
Slide 24: Wapiti Property Exploration Targets
The Exploration Target (refer Table 1 below) is presented as an upper and lower range, rounded to the closest 0.1 Mt. Conceptual Exploration Targets are presented as a range to represent the uncertainty in mineralized zone thickness, grade, and location. The upper (larger) tonnage range was generate
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