Slide 1: September Quarter 2025
September Quarter 2025 For personal use only Unlocking value to empower the future 15 October 2025
Slide 2: Important information
Important information The information in this presentation is provided for general information regarding 29Metals Limited (the ‘Company ‘) and its subsidiaries (together with the Company, ‘29Metals‘). Material information in this presentation has been derived from information publicly released by th
Slide 3: 29Metals - Copper exposure for ASX investors
29Metals - Copper exposure for ASX investors Uniquely positioned with two large copper metal endowments in a tier 1 jurisdiction - 2Mt contained copper in Mineral Resource estimates1 Company Snapshot For personal use only 2024 Production (Golden Grove) 2025 Guidance (Golden Grove)2 Capital Structure
Slide 4: Our priorities
Our priorities Ongoing productivity and cost improvement at Golden Grove; progress the imperatives for a future restart of Capricorn Copper For personal use only ▪ Health and safety Group ▪ Productivity improvements and cost discipline Golden ▪ Maximise operating cash flow Grove ▪ Gossan Valley proj
Slide 5: Key Points
Key Points Sep-Qtr-2025 Safety1 Golden Grove Copper Production Zinc Production C1 Costs2 For personal use only 5.8kt 2.0kt US$3.74/lb Cu 5.4 ▪ Access to high-grade zinc stopes restricted due to impact of seismic activity at Xantho Extended3. ▪ Revised 2025 guidance for zinc and precious metals assum
Slide 6: Golden Grove
For personal use only Grove Golden
Slide 7: Golden Grove: Sep-Qtr-2025 Operations Overview
Golden Grove Sep-Qtr-2025: Operations Overview Ore mined contribution by source (%) Comments 100% ▪ TRIF1 and LTIF1 of 5.6 (Jun-Qtr: 6.2) and 0.0 (Jun-Qtr: 1.0), respectively. 18% For personal use only 25% 22% 26% 26% ▪ Ore mined 344kt (Jun-Qtr: 334kt); Ore milled 330kt (Jun-Qtr: 385kt). 30% ▪ Coppe
Slide 8: Golden Grove: Sep-Qtr-2025 Costs and Capital Overview
Golden Grove Sep-Qtr-2025: Costs and Capital Overview Site Costs ($ million) Comments ▪ C1 Costs1 of US$3.74/lb copper sold (Jun-Qtr: US$2.09/lb copper sold). For personal use only 103 ▪ AISC2 of US$4.93/lb copper sold (Jun-Qtr: US$3.29/lb copper sold). 94 96 96 91 ▪ Higher quarter-on-quarter C1 uni
Slide 9: Xantho Extended
Xantho Extended Access to high-grade zinc stopes in Xantho Extended temporarily restricted due to impact of seismic activity Comments Golden Grove mining area temporarily impacted by exclusion zone ▪ As previously reported, access to high-grade Gossan Hill Scuddles For personal use only zinc stopes
Slide 10: Exploration drilling ramping up in 2025 to test priority targets
Exploration drilling ramping up in 2025 to test priority targets Planned exploration expenditures of $10 million to $14 million in 2025, up from $4 million in prior year Golden Grove Long Section1 For personal use only Gossan Valley Gossan Hill Scuddles Tryall North Hougoumont Xantho Extended Cervan
Slide 11: High-grade copper intercepts highlight Golden Grove growth potential
High-grade copper intercepts highlight Golden Grove growth potential 2025 drilling to date is demonstrating potential mine-life extensions at Gossan Hill and highlights Cervantes as an attractive future growth option Golden Grove Long Section1 Gossan Hill Scuddles Tryall Resource Extension drilling2
Slide 12: Investment period to optimise Golden Grove for the future is nearing completion
Investment period to optimise Golden Grove for the future is nearing completion Investment to establish long-term infrastructure and to enable Golden Grove’s two highest-grade ore sources - Xantho Extended and Gossan Valley 2022 - 2023 2024 2025 - 2026 For personal use only ✓ Xantho Extended debottl
Slide 13: Gossan Valley remains on track for first ore by end of 2026
Gossan Valley remains on track for first ore by end of 2026 Gossan Valley is the next logical development option to enhance milled head-grades and optimise Golden Grove’s life-of-mine plan For personal use only Box cut area Box cut area ~90 Days Surface civil works Surface civil works 13
Slide 14: Gossan Valley Mineral Resource Estimates remain open at depth
Gossan Valley Mineral Resource Estimates1 remain open at depth Potential to build on the long history of mine life extensions at Golden Grove Gossan Valley Gossan Hill Scuddles For personal use only Legend: : >0.4% Cu wireframe1 : >2.0% Zn wireframe1 400m 400m 1992 400m 2024 N 1994 N N : Gossan Vall
Slide 15: Capricorn Copper
For personal use only Copper Capricorn
Slide 16: Potential value to be unlocked at Capricorn Copper
Potential value to be unlocked at Capricorn Copper Significant Mineral Resources1, established infrastructure and ~1,900km2 land position in prolific Mt. Isa inlier province Substantial contained copper metal endowment For personal use only Mineral Resources: 64.3 million tonnes @ 1.8% Copper1 Conta
Slide 17: A profitable operation prior to impact of 2023 extreme weather event
A profitable operation prior to impact of 2023 extreme weather event1 24kt of copper production at AISC of US$3.71/lb copper sold, for $66 million of EBITDA in last full year of operation EBITDA ($ million)2 AISC (US$/lb)2 For personal use only Capricorn Copper Capricorn Copper $110 million $66 mill
Slide 18: Imperatives for restart of operations
Imperatives for restart of operations Photo: Esperanza Pit (‘EPit) One more successful wet season expected to be required, along with derisking of regulatory approvals for a long-term TSF, prior to progression of a restart. For personal use only ▪ Water level reductions are being progressed via evap
Slide 19: Site water inventory reductions
Site water inventory reductions Capricorn Copper surface water inventory reductions are well progressed For personal use only 1.5 Gigalitres of water inventory reduction 0.5 Water inventory (Gigalitres) 3.4 Maximum Operating Level1 0.5 Approx surface water inventory at the start of 2022/2023 wet sea
Slide 20: Materially reducing cash outflows whilst restart imperatives are being progressed
Materially reducing cash outflows whilst restart imperatives are being progressed Conserving group liquidity whilst water level reductions and tailings approvals are being progressed Suspension operating and capital expenditures ($ million) For personal use only Ramp-down of investment in environmen
Slide 21: Corporate
For personal use only Corporate
Slide 22: Finance and Corporate
Finance and Corporate Balance sheet and cash flows Unaudited group cash and cash equivalents, and available liquidity ($ million)1 Comments For personal use only ▪ Unaudited available cash and cash equivalents at 30 September 2025 of $153 million (30 June 2025: $187 million). ▪ Unaudited available g
Slide 23: Why Invest In 29Metals
Why Invest In 29Metals Copper – a critical future facing metal to enable the global transition towards electrification Capricorn Copper Large copper endowments For personal use only (Production Suspended1) 2.2Mt Contained Copper + 2.3Mt Zinc, 1.2Moz Gold, 75Moz Silver in Group Mineral Resources esti
Slide 24: Unlocking value to empower the future
For personal use only Unlocking value to empower the future 24
Slide 25: Appendix: Site water inventory summary
Capricorn Copper1 Appendix: Site water inventory summary Workshop Area Mill Creek Dam Site water Inventory 30 September 2025: (MCD) Gunpowder 1.5 Gigalitres of Reductions Creek Ponds Gigalitres 3&4 For personal use only 3.9 Maximum Operating Level2 0.5 2.4 0.1 0.3 1.9 1.5 Approx surface water invent
Slide 26: Appendix: Group Mineral Resources and Ore Reserve Estimates
Appendix: Group Mineral Resources and Ore Reserve Estimates Mineral Resources estimates at the Group level are the aggregation of 31 December 2024 Mineral Resources Ore Reserves estimates at the Group level are the aggregation of the 31 December 2024 Ore Reserves estimates for estimates for Golden G
Slide 27: Appendix: Golden Grove Mineral Resources and Ore Reserve Estimates
Appendix: Golden Grove Mineral Resources and Ore Reserve Estimates The 31 December 2024 Mineral Resources estimates for Golden Grove are set out in the table below and incorporate the results of resource conversion, resource extension and grade control drilling completed since the cut-off-date for t
Slide 28: Appendix: Capricorn Copper Mineral Resources and Ore Reserve Estimates
Appendix: Capricorn Copper Mineral Resources and Ore Reserve Estimates 29Metals announced the suspension of production at Capricorn Copper on 26 March 2024 and production continues to be suspended. See 29Metals announcement, “Capricorn Copper – Suspension of Operations” dated 26 March 2024. Due to t
Slide 29: Appendix: Redhill Mineral Resources Estimates
Appendix: Redhill Mineral Resources Estimates The Mineral Resources estimates for Redhill are set out in the table below. These Mineral Resources estimates were first reported and effective on 16 May 2016. There have been no material changes to the Mineral For personal use only Resources estimated f