Cyprium Metals Limited · ASX:CYM
Cyprium Metals — Investor Presentation (August 2025)
33 slides from Cyprium Metals's investor presentation, Aug 28, 2025
Slide 1: Unlocking Value at Nifty Copper Complex
For personal use only UNLOCKING VALUE AT NIFTY COPPER COMPLEX ASYMMETRIC OPPORTUNITY FROM BROWNFIELD ASSET BASE INVESTOR PRESENTATION | AUGUST 2025 www.cypriummetals.com www.cypriummetals.com Not for release to US wire services or distribution in the United States
Slide 2: Disclaimers and Forward-Looking Statements
DISCLAIMERS AND FORWARD-LOOKING STATEMENTS IMPORTANT: You must read the following before continuing. This Investor Presentation (“Presentation”) has been prepared by Cyprium Metals Limited (ABN 48 002 678 640) (“Cyprium” or “Company”) and authorised for release by the Executive Chair of Cyprium. Sum
Slide 3: Acceleration of Nifty Copper Complex Restart
ACCELERATION OF NIFTY COPPER COMPLEX RESTART Executing at speed to capitalize on asymmetric opportunity 1 Nifty, a former prolific producer currently at midlife, is a company-making asset with brownfield advantages of cost, time and scale – Early shutdown of SXEW left an above-ground heap leach JORC
Slide 4: Cyprium Metals Snapshot
CYPRIUM METALS SNAPSHOT (ASX: CYM) CORPORATE SUMMARY1 OWNERSHIP2 Share Price A$0.030 Flat Footed 19.9% Shares on issue 2,064m Other Shareholders Market Capitalisation A$61.9m 55.0% Cash A$16.2m Paradice 8.0% For personal use only Senior Debt (maturity September 2028) A$42.3m Pacific Road Capital / C
Slide 5: Cyprium Metals' Paterson Assets
CYPRIUM METALS’ PATERSON ASSETS Cyprium Metals owns a suite of quality assets in the Paterson region of Western Australia NIFTY COPPER COMPLEX Status Next JORC Resource JORC Reserve Development; PFS Concentrate Project 1,038,000t copper contained 83Mt @ 0.90% Cu for complete BFS in open pit resource
Slide 6: Nifty Copper Complex: Prolific Producer at Midlife
NIFTY COPPER COMPLEX: PROLIFIC PRODUCER AT MIDLIFE Historic mining pursued shallow oxides and very high-grade underground, leaving substantial reserves for new surface mine 220,000 Tonnes of Cathode Nifty: Sedimentary-hosted Copper Orebody via Heap Leach Surface Oxides (’93-’06) For personal use onl
Slide 7: Asset-Rich Brownfield Sets Stage for Rapid Restart
ASSET-RICH BROWNFIELD SETS STAGE FOR RAPID RESTART Unique opportunity to reposition a massive resource endowment through a change of mining method 83Mt reserve at 0.9% Cu for 750kt contained copper remains 2 in zone between the oxide open pit and the underground mine, adjacent existing concentrator*
Slide 8: Fast Track to Cash Flow: Restart Copper Cathode Production
FAST TRACK TO CASH FLOW: RESTART COPPER CATHODE PRODUCTION Pre-tax NPV @ 8% - Nov 24 PFS A$86m PRODUCTION (KT) & PRE-TAX FCF (A$M) – PFS Case Pre-tax IRR - Nov 24 PFS 110% Reserve life 4.2 years 5.4 6.2 6.0 3.9 2.9 24kt For personal use only LOM production Cu - Reserve only Average production Cu 6kt
Slide 9: Above Ground Copper Is Stockpiled in Heap Leach
ABOVE GROUND COPPER IS STOCKPILED IN HEAP LEACH Retreatment of existing leach pads is a low complexity, low capital path to cash flow For personal use only Drill holes data completed at partial depth determined block model Metallurgical accounting: 17.2Mt material stacked contains 200 mmlbs of resid
Slide 10: SXEW Plant Can Be Quickly and Inexpensively Rebuilt
SXEW PLANT CAN BE QUICKLY AND INEXPENSIVELY REBUILT Significant work to date shows low capital is required to refurbish plant for 6,000 ktpa operation PFS Project Cost Estimate Item A$m Heap Leach 0.3 For personal use only Mechanical 6.8 Electrical 6.5 Piping 3.4 SX Plant (“Solvent Extraction”) requ
Slide 11: Large Value Driver: Sulphide Open Pit and Concentrator Restart
LARGE VALUE DRIVER: SULPHIDE OPEN PIT AND CHALCOPYRITE MINERALISATION NIFTY EXISTING CONCENTRATOR CONCENTRATOR RESTART Pre-tax NPV @ 8% - Nov 24 PFS A$1.04B Pre-tax IRR - Nov 24 PFS 26.3% Project life 20 years For personal use only LOM production Cu 694 kt Average production Cu 38.7 ktpa AISC A$/t p
Slide 12: We Are Executing a Very Simple Plan at Pace
WE ARE EXECUTING A VERY SIMPLE PLAN AT PACE 2024 saw rebuild of information from first principles to develop forward action plan 2024 2025 2026 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Nifty: Concentrate PFS BFS Concentrate For personal use only Nifty: Cathode HL MRE PFS Cathode FS Cathode Refurb / Restart Permits/E
Slide 13: Where Are the Other Big Copper Opportunities?
WHERE ARE THE OTHER BIG COPPER OPPORTUNITIES? Selected recent transactions show that Australian developers and producers with scale and longevity have material strategic value Bastion Mining to acquire Kinterra to acquire Harmony Gold to acquire Metals Xanadu Mines New World Resources Acquisition Co
Slide 14: Cyprium Currently Dislocated vs Peers
CYPRIUM CURRENTLY DISLOCATED VS PEERS Continued execution will drive re-rate in line with Nifty’s premium scale and longevity MAC subject to A$1.6B takeover offer with similar copper resource tonnes (A$m) and production profile to Cyprium (kt) 1,600 60 Producer Developer 1,400 For personal use only
Slide 15: Maroochydore Rediscovered
MAROOCHYDORE REDISCOVERED Globally significant copper resource in Paterson district within haul distance to Nifty 370.8Mt @ 0.43% Cu, 227 ppm Co 106.3Mt @ 0.67% Cu, 308 ppm Co Sedimentary copper Higher-grade domain Inferred resources Higher-grade zone within inferred mineralisation style Will be fur
Slide 16: Equity Raising Details
For personal use only EQUITY RAISING DETAILS 16 CYPRIUM | AUGUST 2025 INVESTOR PRESENTATION
Slide 17: Capital Raising Overview
CAPITAL RAISING OVERVIEW A$80.0 million institutional placement and underwritten entitlement offer to accelerate path to cashflow generation ▪ A$74 million two-tranche Institutional Placement via the issue of approximately 2,643 million new fully paid ordinary shares in Cyprium (“New Shares”) to Off
Slide 18: Sources and Uses of Funds
SOURCES AND USES OF FUNDS Funding to accelerate path to cashflow generation Sources & Uses of funds Uses of funds A$m For personal use only Restart of the Company’s SXEW plant (Heap Leach, Mechanical, Electrical, Piping, Concrete and structural, Construction overheads) 21.0 Other supporting infrastr
Slide 19: Pro Forma Capital Structure
PRO FORMA CAPITAL STRUCTURE Transformational funding solution to accelerate growth Current Pro-Forma Capital Structure (Pre-Raise) (Post-Raise)7 Shares on issue (CYM:ASX) 2,064m 4,922m For personal use only Share price / Offer price A$0.0301 A$0.028 Market capitalisation A$61.9m A$137.8m Cash A$16.2
Slide 20: Indicative Timetable
INDICATIVE TIMETABLE Summary of key dates Event Indicative Time / Date (2025) Trading Halt Tuesday 26 August For personal use only Trading halt lifted, announce Placement and Entitlement Offer Thursday 28 August Entitlement offer Record Date 7:00pm (AEST) on Tuesday, 2 September Settlement of New Sh
Slide 21: Supplementary Material
For personal use only SUPPLEMENTARY MATERIAL 21 CYPRIUM | AUGUST 2025 INVESTOR PRESENTATION
Slide 22: Concentrate Operations – PFS Mine Plan
CONCENTRATE OPERATIONS – PFS MINE PLAN Significant positive exposure to forward copper prices PRODUCTION & REVENUE – PFS Case For personal use only 1,200 44 45 44 42 42 42 38 40 39 38 33 33 33 32 34 1,000 27 21 11 13 13 800 - 3 676 670 664 596 623 630 631 589 565 593 588 589 564 558 559 600 528 522
Slide 23: Project Interactions Can Be Well Managed
PROJECT INTERACTIONS CAN BE WELL MANAGED Interaction of the Cathode Project and Concentrate Project assuming simultaneous project operations Fast access to sulphide ores from oxide open pit – Oxide ores were mined from a shallow open pit, put on heap leach pads and leached – with resulting pregnant
Slide 24: Peer Production References
PEER PRODUCTION REFERENCES Annual Company Ticker Mkt Cap (A$m)1 Stage Production Reference Production MAC Copper Limited announces 2024 Resource and Reserve Statement and Production Guidance - 24 February MAC Copper ASX:MAC 1,5222 45,500 Production 2025 Rex Minerals N.A. 3932 42,000 PFS Rex Minerals
Slide 25: Key Risks
For personal use only KEY RISKS 25 CYPRIUM | AUGUST 2025 INVESTOR PRESENTATION
Slide 26: Key Risks: Company Specific
KEY RISKS Company specific Risk Category Risk On 30 September 2024, the Company announced that it had executed long form documentation with Glencore International AG and its affiliates (Glencore) which resulted in the Company completing a drawdown of US$27.3 Debt facilities million. In addition to t
Slide 27: Key Risks: Industry Specific
KEY RISKS Industry specific Risk Category Risk The operations and proposed activities of the Company are subject to State and Federal laws and regulations concerning the environment. As with most exploration projects and mining operations, the Company’s activities are expected to have an impact on t
Slide 28: Key Risks: Industry Specific
KEY RISKS Industry specific Risk Category Risk The operations of the Company may be affected by various factors, including failure to locate or identify mineral deposits, failure to achieve predicted grades in exploration and mining, operational and technical difficulties encountered in mining, insu
Slide 29: International Offer Restrictions
For personal use only INTERNATIONAL OFFER RESTRICTIONS 29 CYPRIUM | AUGUST 2025 INVESTOR PRESENTATION
Slide 30: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS This document does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, this Presentation may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Australia except t
Slide 31: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission in Hong Kong
Slide 32: Joint Lead Managers Disclaimer
JOINT LEAD MANAGERS DISCLAIMER The Company has appointed Wilsons Corporate Finance Limited (ACN 057 547 323), Canaccord Genuity (Australia) Limited (ACN 075 071 466) and Euroz Hartleys Limited (ACN 104 195 057) (collectively, Joint Lead Managers), to act as the joint lead managers to the placement a
Slide 33: Contact
CONTACT For personal use only Angus Miles Corporate Development and Investor Relations communications@cypriummetals.com +61 8 6374 1550 Dannika Warburton Investor & Media Relations investors@investability.com.au +61 401 094 261 Registered Office Level 1, 437 Roberts Road Subiaco WA 6008 Australia Te