Broken Hill Mines Limited · ASX:BHM
Broken Hill Mines — Q1 2026 Earnings Presentation
19 slides from Broken Hill Mines's earnings presentation, Apr 24, 2026
Slide 1: March 2026 Quarterly Results Presentation
For personal use only March 2026 Quarterly Results Presentation Rasp & Pinnacles Ag-Pb-Zn Mines Consolidating one of Australia’s great mining jurisdictions
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer Summary information For personal use only This presentation has been prepared by Broken Hill Mines Limited (BHM or the Company) relating to the operation and Not a recommendation or financial product advice development of the Rasp Mine and the Pinnacles Mine in Broken H
Slide 3: March 2026 Quarter Results Summary
BHM March Completed 2026 reverse listing Coolabah Metals Ltd Quarter via the takeover Results Summary of ASX-listed Continued improvement across all core For personal use only production and financial metrics Performance Sep 2025 Dec 2025 Mar 2026 % QoQ Units Transitioning from one to three ore feed
Slide 4: Growing Silver Exposure Strategy
Broken Hill Mines’ 100% Metal Value Contribution Within ZnEq Grade at Current Spot Silver Price1 Growing Silver For personal use only Lead Exposure Strategy Lead Lead Zinc BHM provides investors with Zinc significant & increasing Gold exposure to silver production Zinc 50% revenue, allowing investor
Slide 5: Maintaining a Strong Balance Sheet & Tight Capital Structure
Board Maintaining a Strong Balance Track record in developing & operating world-class mature mines Completed reverse listing via the takeover of ASX-listed Coolabah Metals Ltd Patrick Walta Sheet & Tight Capital Structure Executive Chair For personal use only Experience in M&A & large-scale Ag-Pb-Zn
Slide 6: BHM is Consolidating the Famous Broken Hill Ore Body
BHM is Consolidating the Famous Broken Hill Ore Body For personal use only BHM now controls two of three assets covering the largest & richest silver-lead-zinc ore Continuous ore body growth 300Mt Resource (15% Zn+Pb) Produced >1 Billion oz Ag, body in the world: & mining for 140 years & 300g/t Ag ~
Slide 7: Rasp Mine
Rasp Mine High-grade Main Lode ore feed now online For personal use only 7
Slide 8: Rasp Mine Overview: Transitioning to Multiple Ore Feeds
Rasp Mine Overview: Transitioning to Multiple Ore Feeds 10.1Mt @ 9.9% ZnEq, 273g/t AgEq2 (48.5g/t Ag, 3.2% Pb & 5.7% Zn)1 For personal use only Western Mineralisation N CML7 Centenary Main Lode Perilya North Mine Perilya South Mine High-Grade “Line of Lode” Workings (Remnant mining opportunity) Pinn
Slide 9: High Grade Main Lode Now Online
High Grade Main Lode Now Online Clear upside potential to existing Mineral Resource Estimate (MRE) based on identified targets and historical operational knowledge For personal use only Mining underway, shallow ore body starting ~200m depth December 2025 quarter Main Lode drilling1 highlights: • 4.3
Slide 10: Rasp Operational Infrastructure
Rasp Operational Infrastructure For personal use only Mining Processing & Surface Tailings • Sub-level open stoping and up-hole stoping • Grinding, flotation, thickening and filtration • Current practice: • 100% owned operating mobile fleet • 750ktpa ore throughput capacity o Wet, thickened tailings
Slide 11: Pinnacles Mine
Pinnacles Mine One of the highest-grade and shallowest deposits in Broken Hill For personal use only Overview of Pinnacles Operation 11
Slide 12: Accelerating Pinnacles Growth
Accelerating Pinnacles Growth Fast-track resource growth and development, with a 25,000m expanded For personal use only drilling program across high-priority targets Successful Phase 1 & 2 Drilling Programs • Phase 1 program (total ~8,500 m) completed with highly encouraging initial results • 25,000
Slide 13: Pinnacles is Potentially the Most Significant Discovery in Broken Hill in 100 Years
Pinnacles is Potentially the Most Significant Discovery in Broken Hill in 100 Years For personal use only BHM’s Inaugural ASX Pinnacles Release (22 September 2025) Exceptional High Grade Shallow Mineralisation (Section A – A’)1, 2 8.9m @ 54.6% ZnEq, 1,537g/t AgEq (922g/t Ag, 12.3% Pb, 1.6% Zn, 3.7g/
Slide 14: Pinnacles Mine Restart in June Quarter
Pinnacles Mine Restart in June Quarter Rapidly progressing toward near-term restart, leveraging installed infrastructure, approved Mining Leases For personal use only and expedited study programs alongside 25,000m expanded drilling program across high-priority targets Pinnacles and Rasp are connecte
Slide 15: Potential for Expedited Underground Development
H H’ Potential for Expedited Underground Development For personal use only Identification of very high-grade underground zone Zone extends >350m down dip (open), up to 100m wide & 2 to 10m thickness Multiple intercepts >1,000g/t AgEq, One of the highest grade undeveloped silver systems in Au
Slide 16: Investment Proposition
Investment Proposition For personal use only Solid Foundation: Rasp’s infrastructure and Western Mineralisation, providing a base for growth Near-Term Growth: Rasp’s Main Lode and Pinnacles’ Open Pit to increase metal production Silver Exposure: Silver-rich new ore sources significantly increasing A
Slide 17: Mineral Resource Estimates
Mineral Resource Estimates1,2 For personal use only Rasp Pinnacles Tonnes ZnEq AgEq Zn Pb Ag Tonnes ZnEq AgEq Zn Pb Ag Au Classification (kt) (%) (g/t) (%) (%) (g/t) Classification (kt) (%) (g/t) (%) (%) (g/t) (g/t) Main Lode Open Pit Measured 245 19.3 533 8.50 7.00 152 Measured 84 8.3 230 3.4 2.2 8
Slide 18: Metal Equivalents
Metal Equivalents Metal recoveries used in the zinc equivalent (ZnEq) and silver equivalent (AgEq) calculations for each element are based on the average For personal use only metallurgical recoveries of Rasp achieved based on historical performance and applied to all ore types, including Pinnacles
Slide 19: For personal use only
For personal use only Patrick Walta Shane Goodwin Executive Chairman Head of Corporate Affairs pwalta@brokenhillmines.com sgoodwin@brokenhillmines.com 19