Slide 1: Positioned for Transformational Growth
POSITIONED FOR TRANSFORMATIONAL GROWTH Q1 2021 RESULTS WEBCAST – APR 2021 Aerial of Santo Domingo future operations site
Slide 2: Participants On Today's Call
Participants On Today’s Call Darren Pylot Raman Randhawa Brad Mercer Jerrold Annett President and CEO SVP and CFO SVP and COO SVP, Strategy and Capital Markets CAPSTONE MINING (TSX:CS) • 2
Slide 3: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE ON FORWARD LOOKING INFORMATION This document may contain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (col
Slide 4: Cautionary Notes
Cautionary Notes CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING PRESENTATION OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES As a British Columbia corporation and a “reporting issuer” under Canadian securities laws, we are required to provide disclosure regarding our mineral properties in ac
Slide 5: Darren Pylot
ee Darren Pylot Sn President & CEO
Slide 6: Q1 2021 Results Summary
Q1 2021 Results Summary Copper Production C1 Cash Costs1 (million pounds) Per Pound Payable Produced Pinto Valley Mine has bought two Caterpillar 994K wheel loaders for its operation, as it looks to reduce its emissions and improve its operating cost base at the copper mine. Pinto Valley 36.4 $1.94
Slide 7: Record EBITDA Generation
Record EBITDA Generation Q1 EBITDA vs. Consensus (US$M) 2021E Site EBITDA at $4.00/lb Cu (US$M) C1 Margin for Mid-point of 2021 Guidance at $4.00/lb Cu +$400M $402M Q1 2021 Consolidated Actual Results Q1 2021 copper sales of 49.2 Mlbs at consolidated C1 cash +$250M $254M costs of $1.70/lb Realized c
Slide 8: Record Operating Cash Flow
RECORD Operating Cash Flow(1) Generation… $245M including $150M Cozamin stream proceeds …driven by strong first quarter sales of 49.2 Mlbs Cu at C1 cash costs of $1.70/lb New Record (Q1/21): (1) 2 operating mines Operating Cash Flow (US$M) Copper Price (US$/lb) $100 $5.00 $95M $90 $4.50 Previous Rec
Slide 9: What a Difference a Year Makes
What a Difference a Year Makes Adj. EBITDA (US$M) OCF (After-Tax) Before Changes in WC (US$M) $119 $95 (1) $65 $64 $45 $52 $24 $20 $16 $11 $13 ($3) Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Adj. EPS (US$/sh) (Net Debt) / Net Cash (US$M) $75 (2) $0.16 $45 $0.09 Debt Free
Slide 10: Balance Sheet is Positioned to Power Our Transformation
Balance Sheet is Positioned to Power Our Transformation Available Liquidity (US$M) DEBT FREE1 Cash & ST 2021E-2023E with $45 Investments RCF Capacity Cumulative After-Tax Operating Cash Flow* STRONG $270M BALANCE SHEET ~$1,400 LIQUIDTY $225 ~$1,200 • Capstone has pipeline of low capital, high return
Slide 11: Q1 2021 Highlights
Q1 2021 Highlights Corporate • Generated record operating cash flow1 of $95M (excluding $150M Cozamin Santo Domingo • Announced $290M gold stream with Wheaton Precious Metals stream proceeds) • Consolidated 100% ownership, providing greater flexibility to Capstone’s • Debt free2 and further bols
Slide 12: Innovating to 2020s New Mill Performance from a 1970s Old Mill
Innovating to 2020s NEW MILL Performance from a 1970s OLD MILL Pinto Valley Mine • Predictive Blast Fragmentation Technology has increased fines generation in run-of-mine ore allowing higher mill throughput • Eriez HydroFloat Coarse Particle Flotation Technology now in feasibility expected to increa
Slide 13: 2021 Catalysts
2021 Catalysts Corporate Debt free1 Q1 2021 Sustainable 200 Mlbs copper producer by 2022 On track Coarse particle flotation Decision mid 2021 Pyrite agglomeration Decision mid 2021 Pinto Valley PV3 Optimization projects Completed H2 2021 Updated Technical Report Release H2 2021 Cozamin Ramp up to
Slide 14: Transformational Growth in 2024
Transformational Growth in 2024 Transformational copper production 2022-2023 ~200 Mlbs sustainable copper production 2024** growth with Santo Domingo Pinto Valley Cozamin Santo Domingo • PV4 study released; • Impact23 Growth Project • Cobalt feasibility released 500 $2.30 evaluating scenarios for re
Slide 15: Contact Information
Contact Information GENERAL INQUIRIES MEDIA AND INVESTOR INQUIRIES Capstone Mining Corp. Jerrold Annett Suite 2100 – 510 West Georgia Street Senior VP, Strategy & Capital Markets Vancouver, BC V6B 0M3 1-647-273-7351, Toronto, ON www.capstonemining.com info@capstonemining.com info@capstonemin