Coda Minerals Ltd · ASX:COD
Coda Minerals — RIU Sydney Conference 2026
24 slides from Coda Minerals's conference presentation, May 7, 2026
Slide 1: Coda Minerals Investor Presentation
For personal use only ASX COD Coda Minerals Investor Presentation RIU Sydney May 2026
Slide 2: Important Notices
ASX COD Important Notices Nature of this document: The purpose of this presentation is to provide general information about Coda Minerals Limited (ACN 625 763 957) (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and esti
Slide 3: Rapidly Advancing PFS
SOUTH AUSTRALIA OLYMPIC DAM STAGE ELIZABETH OAK DAM WEST CARRAPATEENA Rapidly Advancing PFS CREEK NPV7 (Pre-Tax) :2.3B & IRR: 56% For personal use only TEAM PORT AUGUSTA Experienced Board >17 Project Experience LOCATION South Australia Supportive jurisdiction, low sovereign risk ADELAIDE SOLID FOUND
Slide 4: Elizabeth Creek: Major Cu-Ag-Co Resource in an Exceptional Jurisdiction
ASX COD OLYMPIC DAM - BHP 114KM NN ROXBY DOWNS OAK DAM WEST - BHP For personal use only 16KM NE WOOMERA CARRAPATEENA - BHP ELIZABETH CREEK - SA 40KM EAST ELIZABETH CREEK Major Cu-Ag-Co Total Area: 701 km2 Resource in an exceptional jurisdiction PORT AUGUSTA SOUTH AUSTRALIA surrounded by Tier-1 N 0 2
Slide 5: Coda's Copper Portfolio
ASX:COD ELIZABETH CREEK Total Area: 701 km2 EMMIE BLUFF CODA’S COPPER PORTFOLIO (FLAGSHIP) Underground 65.5Mt @ 1.6% CuEq Deposit For personal use only EMMIE DEEPS ~ 400m depth Iron Oxide Copper Gold (IOCG) Underground Deposit ~ 800m depth > 1 Million Tonnes of CuEq WINDABOUT Open Pit Deposit JORC R
Slide 6: Shallow by Global Standards
ASX:COD Shallow by Global Standards For personal use only Emmie Bluff: • Shallower depth • Larger average mined thickness; and • Lower throughput than is achieved at similar deposits worldwide Upper Lower Average Avg Mined Project Nation Mining Mining Productivity Thickness Depth Depth (MTPA) Emmie
Slide 7: Corporate
ASX COD CORPORATE $0.13 374M $49M $9.01M Share Price Ordinary Shares Market Capitalisation Cash and Equivalents For personal use only 4 May 2026 4 May 2026 4 May 2026 31 March 2026 5.0 Volume Close Announcements 0.22 2025.11.13 -Elizabeth Creek Drilling 2026.03.10 – Elizabeth Creek Project 4.5 2025.
Slide 8: Metallurgy – Whole Ore Leach
Copper ASX:COD METALLURGY – WHOLE ORE LEACH RECOVERY Cu 29 94.8% Simplified flowsheet For personal use only Silver Source: LME delivering exceptional recoveries in a Ag 47 98.2% strengthening Cu & Ag market FLOWSHEET Source: silverprice.org SX/EW JAW CRUSHER COPPER WHOLE ORE LEACH ROM CATHODE MILLIN
Slide 9: Emmie Bluff: Foundation Development Asset
ASX:COD EMMIE BLUFF: FOUNDATION DEVELOPMENT ASSET 40.2Mt @ 1.9% CuEq 400m For personal use only RESOURCE 31.81Mt @ 1.8% CuEq PRODUCTION TARGET 13 Years Updated MRE Targeted June 2026 MINE LIFE NEXT STEPS Emmie Bluff MRE Update Mine planning and updated resource work are advancing Mine Planning devel
Slide 10: Key Financial Metrics
ASX:COD KEY FINANCIAL METRICS PREVIOUS UPDATED SPOT STUDY BASE CASE PRICE Cu $9,260/t $10,500/t $13,108/t For personal use only Ag $30/oz $60/oz $82/oz PREVIOUS UPDATED SPOT FX AUD:USD 0.68 0.68 0.71 STUDY BASE CASE PRICE REVENUE 3% 2% 2% NPV7 PRE-TAX (A$B) $1.29Bn $2.25Bn $3.32Bn BREAKDOWN 12% 20%
Slide 11: A Rapidly Advancing Development Story
A RAPIDLY ADVANCING DEVELOPMENT STORY RIU 2025 RIU 2026 Company SP $0.076 $0.130 peak $0.205 For personal use only 2x Pre-TaxNPV7 $1.2Bn $2.3Bn Commodity Cu $9,500 /t $13,000/t Prices (USD) Ag $33/Oz $76/Oz peak $0.117/Oz Co $34,000/t $56,000 /t Recoveries Cu 81.4% 13.4%↑ 94.8% Ag 79.5% 18.7%↑ 98.2%
Slide 12: Catalyst Rich Newsflow
CATALYST RICH NEWSFLOW 2026 For personal use only Complete Scoping Study Update ✓ Drilling Program ✓ In Progress Updated Emmie Bluff MRE Flowsheet & Metallurgy Environmental & Mining Scoping Report Finalised Mining Lease Submission Approvals Upcoming Mine Plan Optimisation Water Drilling Trade-Off S
Slide 13: Why the PFS Matters
WHY THE PFS MATTERS For personal use only PFS Most fundamental step on the road to development NPV7 (Pre-Tax) :2.3B & IRR: 56% VALUE UPLIFT Peers have seen huge value uplift Targeting a commercial outcome to unlock development TIMING Copper & Silver at historic highs Increasing M&A and metals stream
Slide 14: Appendices
For personal use only Appendices
Slide 15: A: Statements – Mineral Resources
APPENDIX A: STATEMENTS Mineral Resources Mineral Resources and Exploration Targets For personal use only 1. MG14 Indicated Mineral Resource: The information is extracted from the report entitled "Confirmation Statements JORC" created on 26th October 2020 and is available to view at: https://cdn-api.
Slide 16: A: Competent Person Statement
APPENDIX A: STATEMENTS Competent Person Statement Competent Person Statement for JORC 2012 Mineral Resources - MG14 & Windabout For personal use only This report was prepared in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Slide 17: B: Aggregated Mineral Resources at Elizabeth Creek
APPENDIX B: MINERAL RESOURCES Aggregated Mineral Resources at Elizabeth Creek OPEN PIT Proposed Tonnage Cut-off Copper Cobalt Silver Zinc Copper Equivalent For personal use only Resource Category Type Mining Mt Grade Grade Contained Grade Contained Grade Contained Grade Contained Grade Contained Met
Slide 18: C: Metal Equivalent Calculations
APPENDIX C: METAL EQUIVALENT CALCULATIONS Statement Regarding Metal Equivalent Calculations Metal Equivalent grades are quoted for one or more of the Emmie Bluff, Windabout and MG14 Mineral Resources, or for exploration results considered by the company to be related directly to one of these Mineral
Slide 19: C: Metal Equivalent Calculations (continued)
APPENDIX C: METAL EQUIVALENT CALCULATIONS Statement Regarding Metal Equivalent Calculations (continued) The calculation of this metal equivalent is based on the following assumptions: For personal use only Metal Mining Dilution % Recovery % Payability % Forecast Price Price Unit Recovery % Copper 0.
Slide 20: D: Statements & References
APPENDIX D: STATEMENTS & REFERENCES Production Targets – Listing Rule 5.19.2 For personal use only In relation to any Production Target or any forecast financial information based on any Production Target quoted or referenced in this announcement, the Company confirms that all material assumptions u
Slide 21: E: Board of Directors & Senior Management
APPENDIX E : BOARD OF DIRECTORS & SENIOR MANAGEMENT Keith Jones Susan Park NON-EXECUTIVE CHAIR COMPANY SECRETARY For personal use only Chartered Accountant and senior mining industry leader with over 40 years of Over 25 years’ experience in the corporate finance industry and extensive corporate advi
Slide 22: F: Comparable Underground Copper Projects Data
APPENDIX F : COMPARABLE UNDERGROUND COPPER PROJECTS DATA Avg Mining Other Mine Name Company Project Status Location Thickness Depth Source Thickness Sources For personal use only Lubin KGHM Operating Poland 1.5-5.5m 2.8m 368-1006m https://kghm.com/sites/kghm2014/files/mrmr_english.pdf Polkowice- KGH
Slide 23: G: A Difference a Year Makes
APPENDIX G: A DIFFERENCE A YEAR MAKES RIU 2025 RIU 2026 Company SP $0.076 Market Index: Closing Price 6th May 2025 $0.13 $0.205 Market Index: Closing Price 6th May 2026 Market Index: Closing Price 3rd March 2026 For personal use only Pre-TaxNPV7 $1.2Bn 03.12.2024 - New Resources, Higher $2.4Bn 10.03
Slide 24: For personal use only
For personal use only 6 Altona Street West Perth WA 6005 08 6270 6331 info@codaminerals.com