Slide 1: Marimaca Copper Corporate Presentation
S OUTH AME R IC A MEJILLONES MARIMACA ANTOFAGASTA SANTIAGO MARIMACA C H IL E COPPER CO RPORATE PRESENTATION Exceptional Development Project, Outstanding Exploration Potential September 2026 TSX: MARI ASX: MC2
Slide 2: Disclaimer
Disclaimer The following notices and disclaimers apply to this presentation and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation is dated the 1st of September 2026 and has
Slide 3: Disclaimer
Disclaimer Forward-looking statements and information (including Marimaca’s belief that it has a reasonable basis to expect it will be able to fund the costs of the Project for its estimated life of mine) are (further to the above) based on the reasonable assumptions, estimates, analysis and opinion
Slide 4: Disclaimer
Disclaimer The information in this presentation that relates to the Company's exploration results has been extracted from the Company's previous ASX and SEDAR announcement[s] including: ASX and SEDAR announcement[s] entitled “MOD Feasibility Study Confirms Robust Capital Intensity and 30%+ IRR” with
Slide 5: Disclaimer
Disclaimer Not financial product advice This presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product or investment advice, financial, legal, tax, accounting or other advice, or a recommendation to acquire any securities of Marimaca.
Slide 6: Introduction: Marimaca Copper Three core value pillars
Introduction: Marimaca Copper Three core value pillars Pampa Medina: Game → Exploration: Complementary → MOD: Near Term → Production Changing Growth Opportunities DFS Complete – 50ktpa run rate Tier 1 discovery opportunity Near-mine oxide potential production ▪ Leading capital intensity, high ▪
Slide 7: Where? Antofagasta Region, Chile
Where? Antofagasta Region, Chile Clear regional scale synergies – low altitude, close to all major infrastructure CHILE’S NEW COPPER DISCOVERY 7 Advancing Development With District Scale Potential
Slide 8: Introduction: Marimaca Copper Project
Introduction: Marimaca Copper Project MEJILLONES MARIMACA ANTOFAGASTA D FS c o m p l e te SANTIAGO Continuous growth of Low strip ratio open pit oxide copper resources operation with CHILE conventional heap leach Rapidly advancing to a Low execution risk CHUQUICAMATA MANTOS DE LA LUNA construction d
Slide 9: MOD Environmental Approval Received
MOD Environmental Approval Received Formal Resolución de Calificación Ambiental (“RCA”) acquired in November Key Environmental Approval for the MOD Project ▪ Marks the formal approval of the Company’s DIA submission made in December 2024 ▪ Multiple Community engagement sessions conducted in Mejillon
Slide 10: Marimaca: Green Copper
Marimaca: Green Copper Mining Project of the Future WATER – recycled seawater supply secured from the Bay of Mejillones POWER – certified renewable electricity supply available COMMUNITIES – no community land overlap, skilled local workforce IMPACT – limited flora & fauna impact expected in th
Slide 11: Key Workstreams in 2026
Key Workstreams in 2026 MOD Project Advancement Exploration ▪ MOD Detailed ▪ Site Early ▪ Project ▪ Pampa Design + Works pre-FID Financing Medina Engineering workstreams Significant drill ▪ Long-lead with execution underway program in Items (>50 strategy to be 2026 weeks ▪ Positive defined delivery)
Slide 12: Marimaca Oxide Deposit: 2025 DFS Results
Marimaca Oxide Deposit: 2025 DFS Results Low Strip Ratio, High Margin Project with Industry Leading Capital Intensity US$1.1bn US$2.09/lb US$587m Post-Tax NPV8(1) 2nd Quartile AISC(2) Pre-Production Capex 39% IRR with 2.2-year payback period C1 cash cost of US$1.69/lb Initial capital intensity of US
Slide 13: MOD 2025 DFS Consultants
MOD 2025 DFS Consultants Specialist consultants with significant experience in the region 2025 DFS prepared by Marimaca team → in conjunction with Ausenco and NCL Processing Metallurgical ▪ Led by Ausenco and NCL – two prominent engineering Carlos Garcia consultants in the region ▪ Ausenco utilized
Slide 14: MOD DFS: Results
MOD DFS: Results Simple mining & processing support robust margins First 5 Years of Metric Unit Steady State(1) LOM Simple open pit mining with LOM strip ratio of 0.8:1 Mining Summary → (including pre-stripped material) Total Ore Mined kt 80,683 178,635 ▪ P&P Mineral Reserve of 179Mt @ 0.42% Cu for
Slide 15: MOD DFS: Capital Cost in Detail
MOD DFS: Capital Cost in Detail Strong technical fundamentals supporting globally competitive capital intensity Metric Unit Total % of Total Capital costs are within AACE Class 3 guidelines; expected Initial Capital Cost US$m $587 - → accuracy of -20% to +25% Mine US$m $24 4% ▪ Budget quotes obtaine
Slide 16: MOD DFS: Global Cu Project Benchmarking
MOD DFS: Global Cu Project Benchmarking Low initial capex and robust NPV reinforces MOD’s position among global peers Profability Index (NPV8% / Initial Capex) for Global Copper Projects Near Term Production (Pre 2028) Long Term Production (Post 2028) Marimaca 5.0 MOD positioned as one of the 4.0 to
Slide 17: MOD DFS: Unique Access to Critical Infrastructure
MOD DFS: Unique Access to Critical Infrastructure Location & access to infrastructure / utilities deliver lower execution risk Port of Mejillones – 25km Power Spur and Line Seawater Pipeline Ripios Norte Open Pit Route 1 – National Highway Heap Leach & Antofagasta & Airport – 40km SX-EW Waste Dump O
Slide 18: MOD DFS: Simple Open Pit Mining
MOD DFS: Simple Open Pit Mining Conventional truck and shovel operation through 8 phases of pit development DFS considers 8 phases of pit development to provide → consistent ore feed to the heap leach Plan view of pit phases & final pit shell ▪ Mine sequence developed to achieve a consistent, steady
Slide 19: MOD DFS: Resource Update
MOD DFS: Resource Update 93% of total resource tonnes now in Measured and Indicated categories 3D View of Marimaca Oxide Blanket Continued conversion of Inferred tonnage and → contained metal over the 2023 MRE ▪ Updated recoveries from Phase 7 metallurgical testing now underpins geometallurgical mod
Slide 20: Water Supply: De-risked and sustainable
Water Supply: De-risked and sustainable Recycled seawater from Mejillones to supply the Marimaca Copper Project • Water option secured from the Bay of Mejilllones – recycled seawater ― De-risks water supply for the MARIMACA COPPER Marimaca Project – intake is already PROJECT permitted ~32km ― No use
Slide 21: MOD Processing: Simple SX-EW Processing
MOD Processing: Simple SX-EW Processing Low complexity processing supports robust project economics DFS Processing Flowsheet 3-stage crushing to achieve P80 passing → 12.5mm (1/2”) ▪ Crushed ore agglomerated and acid cured with variable dose based on mineral sub-domain ▪ Ore stacked on 4m high dynam
Slide 22: Marimaca: Overview
Marimaca: Overview Infrastructure access lowers execution risk Close to all aspects required to build a mine Proximity to first class utilities and infrastructure Water, Power, Transport, Communications Within 25km of Port of Mejillones Access to all major consumables for a SX-EW Marimaca Oxide Depo
Slide 23: Marimaca: Multi-Pronged Strategy
Marimaca: Multi-Pronged Strategy Developing, exploring and integrating a Tier-1 copper district in Chile Continued de-risking of the MOD ▪ RCA Approval received – key environmental permit in hand Project ▪ Phase 7 metallurgical program complete Advancement ▪ Water supply engagement complete – water
Slide 24: Complementary Exploration Targets
Complementary Exploration Targets 1 Strong ‘repetition’ style oxide resource discovery potential Cindy Exploration Target: Roble Exploration Compelling potential to add leachable 30-40Mt at 0.3-0.4% CuT Target: resources for future growth 20-30Mt at 0.2-0.3% CuT Cedro Geophysics Merecedes Exploratio
Slide 25: Complementary Resources: Sierra de Medina Region
Complementary Resources: Sierra de Medina Region Compelling district scale potential through exploration Sierra de Medina Claim Block Cachorro: Geological Setting 3,000kt Contained Cu 300 Mt at 1.0% Cu Pampa Medina & Madrugador Marimaca Oxide Deposit Pampa Medina & Madrugador: Oxide and Sulphide 214
Slide 26: Sierra de Medina Region
Sierra de Medina Region Compelling district scale potential through exploration Pampa Medina & Madrugador → Both located ~25km from the planned MOD processing Antena plant as defined in the DFS → High grade, shallow, which appears to be open-pitable mineralization and which the Company believes is c
Slide 27: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. Potential Tier-1 discovery with step-out drilling program ongoing 1km SMR-36 SMR-06 Open Open Open SWR-12A SWR-11 SWR-10 SMRD-26 SMRD-23 SMRD-21 SMRD-30 SMR-29 Diamond Tails SMRD-04 SMR-05 Underway SMD-01 SWR-13 SWRD-09 SMRD-20 SPRD-14 SMRD-18 SMRD-17 SMD-04 SPRD-06 SP
Slide 28: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. Drilling to date has delineated material extensions at depth and along strike Long Section E406900 Looking West 800 m SMR-29 116m of 0.5% Cu 700m from 204m Incl. 24m of 1.6% Cu and 15g/t Ag from 296m SMR-29 SMRD-30 162m of 0.6% SMRD-20 SMRD-30 Cu from 220m SMRD-13 Incl
Slide 29: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. Ultra-high-grade manto intersected in multiple 150m delineation holes Cross Section N7440950 Looking North – Drilling on section 150m north of section N7440800 SMR-10 SMR-11 SPRD-06 SPRD-15 SPRD-05 SPRD-16A SPRD-01 SPRD-04 SPRD-06 424m @ 0.38% Cu and 2.2g/t Ag SMR-11 –
Slide 30: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. Drilling on 150m centres show consistent, high-grade stacked mantos Cross Section N7440800 Looking North – Drilling on section 150m south of section N7440950 SMRD-14 SWRD-03 SWRD-01 SMRD-16 SPRD-17 SMRD-12 SMRD-02 SMRD-13 SMRD-15 SMRD-16 SMRD-12 SMRD-02 70m of 1.0% Cu
Slide 31: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. 300m step-out holes continue to confirm sulphide mineralization remains open Cross Section N7440500 Looking North SWRD-04 SWRD-02 SMRD-34 SMRD-24 SMRD-22 SMD-03 Volcanics SMRD-34 36m @ 1.08% Cu and SMD-03 SWRD-04 13.8g/t Ag from 158m 42m @ 0.72% Cu and 5.7g/t Ag 16m @
Slide 32: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. 150m step-out holes continue to confirm sulphide mineralization remains open Cross Section E406200 Looking West SPRD-09 SMRD-34 SPRD-08B SMRD-16 SPRD-06 SMRD-20 SPRD-02 SPRD-03 SPRD-15 SPRD-08B Volcanics 660m of 0.41% Cu and 1.8g/t Ag from 386m Incl. 98m of 1.21% Cu an
Slide 33: Pampa Undiluted Potential Thickness at >0.5% Cu
Pampa Undiluted Potential Thickness at >0.5% Cu 3 km Pampa Medina (intervals >0.5% Cu) within broader UHG Zone: Drill intercepts >10m thickness boundary with grades >0.50% Cu over thickness >70m 94% Drill Holes > 10 Cu% m 88% Drill Holes in > 20 Cu% m Kupferschiefer(1) (1.6% Cu x 4.5m avg. thickness
Slide 34: Pampa Medina – a Game Changer.
Pampa Medina – a Game Changer. UHG manto intersected ~650m apart showing strong continuity SPRD-05 from 692m downhole SMRD-13 from 580m downhole Cu % 3% 6% 9% 12% Cu % 4m @ 11.3% Cu and 144g/t Ag Mineralized Zone: 96m Mineralized Zone: 26m 16m @ 5.7% Cu and 62.6g/t Ag 6m @ 12% Cu and 96m @ 1.2% Cu 8
Slide 35: Marimaca: Summary
Marimaca: Summary Advancing Development & Outstanding Potential → A unique development stage copper asset with a clear development pathway to near-term production Tier 1 Location ▪ MOD DFS delivers strong US$1.1 NPV8% with industry leading capital intensity(1) ▪ Key Environmental Approval (RCA) in h
Slide 36: Appendices
Appendices CHILE’S NEW COPPER DISCOVERY 20 Advancing Development With District Scale Potential
Slide 37: MOD DFS: Significant EBITDA and Free Cash Flow
MOD DFS: Significant EBITDA and Free Cash Flow Significant cash flow generation underpins compelling 2.5-year payback EBITDA and Margin (US$m) EBITDA EBITDA Margin 68% 68% 69% 67% 63% 63% 58% 57% 53% 53% 33% $332 $330 $335 $328 27% $307 $282 25% $277 $225 $236 $229 $85 $51 $39 Year 1 Year 2 Year 3 Y
Slide 38: MOD DFS: Mining & Processing Profile
MOD DFS: Mining & Processing Profile Mine expansion in year 5 to accommodate increase in crushing capacity Waste Mined (Mt) Ore Mined (Mt) Strip Ratio 1.23 1.15 1.23 1.04 0.96 0.72 0.83 0.70 0.55 0.46 0.53 35 35 35 35 35 0.24 33 28 25 25 25 9 6 Year -1 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year
Slide 39: Pampa Medina – Extraordinarily Thick Sed Hosted
Pampa Medina – Extraordinarily Thick Sed Hosted Mineralized sediment at Pampa significantly thicker than the Kupferschiefer Typical Kupferschiefer sediment hosted deposit(1) Pampa Medina – SMRD-13 Cu % Cp>Bn Mineralized Zone: 5m Mineralized Zone: 26m Cp-Bn Kupferschiefer 6m @ 12% Cu Bn Cp-Bn Notes:
Slide 40: Experienced Board
Experienced Board Experienced and Leading explorational, invested Board and Deep experience in regional and financial management team copper and Chile experience Giancarlo Bruno Hayden Locke Tim Petterson Nicole Porcile Non-Executive Chairman CEO, Director Non-Executive Director Non-Executive Direct
Slide 41: Experienced Management
Experienced Management Experienced and Leading explorational, invested Board and Deep experience in project and financial management team copper and Chile experience Hayden Locke Nico Cookson Jose Antonio Merino Sergio Rivera CEO, Director President Managing Director, Chile and Vice President of Exp
Slide 42: Corporate Structure
Corporate Structure $14.00 1,000,000 900,000 $12.00 800,000 $10.00 700,000 Share Price (C$/sh) 600,000 $8.00 Volume 500,000 $6.00 400,000 $4.00 300,000 200,000 $2.00 100,000 - - Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Jul-26 Aug-26 Capital Structure Board Analyst
Slide 43: 2025 Mineral Resource Estimate
2025 Mineral Resource Estimate Cut-off Measured Indicated Measured + Indicated Inferred grade (% CuT) Quantity Quantity Quantity Quantity CuT [%] CuS [%] CuT [%] CuS [%] CuT [%] CuS [%] CuT [%] CuS [%] Mt kt kt kt 0.40 44.6 0.73 0.44 31.1 0.65 0.36 75.7 0.70 0.41 4.6 0.56 0.26 0.30 52.6 0.67 0.41 39
Slide 44: 2025 Ore Reserve
2025 Ore Reserve Contained Tonnage Copper Grades Reserve Category Ore Type Copper (kt) (%CuT) (%CuS) (%CuCN) (kt) BROC 39,456 0.58 0.41 0.08 227.5 CRIS 17,607 0.42 0.30 0.04 73.8 Proved Mineral WAD 17,242 0.26 0.14 0.05 44.8 Mineral Reserves are reported as constrained within Measured and Reserves I
Slide 45: Marimaca Copper – Commitment to Sustainability
Marimaca Copper – Commitment to Sustainability Health, Safety and Security Constructive Stakeholder The health, safety and wellbeing of our Engagement employees is at the forefront of We value the trust and support from our everything we do. We implement the local stakeholders. We endeavor to work h
Slide 46: Chile's New Copper Discovery
CHILE’S NEW COPPER DISCOVERY Advancing Development With District Scale Potential CHILE’S NEW COPPER DISCOVERY Advancing Development With District Scale Potential