Slide 1: December Quarter 2024
December Quarter 2024 rsonal use only Unlocking value to empower the future 29 January 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 investment thesis
29Metals investment thesis Copper – a critical future facing metal to enable the global transition towards electrification Capricorn Copper Large copper endowments rsonal use only (Production Suspended1) Significant contained copper, zinc and precious metals in Mineral Resources estimates2 Long life
Slide 4: Our priorities
Our priorities Ongoing productivity and cost improvement at Golden Grove; progress the imperatives for a future restart of Capricorn Copper rsonal use only ▪ Health and safety Group ▪ Productivity improvements and cost discipline Golden ▪ Maximise free cash flow Grove ▪ Gossan Valley1 ▪ Progress the
Slide 5: Key Points December Quarter 2024
Key Points December Quarter 2024 Safety1 Golden Grove Copper Production Zinc Production C1 Costs3 rsonal use only 10.0 2.4 5.3kt 17.6kt US$1.82/lb Cu Group Group ▪ Gossan Valley Final Investment Decision to extend and optimise the Golden Grove life-of-mine plan.4 TRIF LTIF ▪ High-grade copper interc
Slide 6: Golden Grove
rsonal use only Grove Golden
Slide 7: Golden Grove Dec-Qtr-2024: Operations Overview
Golden Grove Dec-Qtr-2024: Operations Overview Ore mined contribution by source (%) Comments 100% ▪ TRIF1 and LTIF1 of 11.1 (Sep-Qtr: 11.6) and 1.5 (Sep-Qtr: 2.1), respectively. rsonal use only 22% 23% 25% 22% 32% ▪ Xantho Extended development of 969 metres (Sep-Qtr: 692 metres). 30% 30% 44% 18% ▪ O
Slide 8: Golden Grove Dec-Qtr-2024: Costs and Capital Overview
Golden Grove Dec-Qtr-2024: Costs and Capital Overview Site Costs ($ million) Comments 94 96 91 91 ▪ C1 Costs1 of US$1.82/lb copper sold (Sep-Qtr: US$2.52/lb copper sold). rsonal use only 86 ▪ AISC2 of US$3.32/lb copper sold (Sep-Qtr: US$3.42/lb copper sold). ▪ Stockpile movements and by-product cred
Slide 9: Tailings Storage Facility on-track for completion Mar-Qtr-2025
Tailings Storage Facility 4 on-track for completion Mar-Qtr-2025 New facility to lower unit production costs and provide long-term tailings solution for Golden Grove ▪ Practical completion of TSF 4 project occurred post quarter end. rsonal use only ▪ First deposition of tailings on-track for Mar-Qtr
Slide 10: Gossan Valley 2024 Feasibility Study highlights
Gossan Valley 2024 Feasibility Study highlights Optimisation of Golden Grove life-of-mine plan; potential to extend Gossan Valley Mineral Resources, which remain open at depth Golden Grove Mine Life Optimisation Economics4 Production / Capital Macro Assumptions1 rsonal use only ✓ Production flexibil
Slide 11: Potential to extend Gossan Valley Mineral Resources at depth
Potential to extend Gossan Valley Mineral Resources, which remain open at depth Current Gossan Valley Mineral Resources1 sufficient to support investment decision – Mineral Resource1 expansion to be targeted with underground drilling upon development Gossan Valley Gossan Hill Scuddles rsonal use onl
Slide 12: High-grade copper intercepts extend Europa
High-grade copper intercepts extend Europa High-grade copper mineralisation intercepted approx. 100 metres below existing Europa Mineral Resource estimates1 Section view of Xantho Extended and Europa sulphide lenses ✓ High grade copper intercepts extend Europa ~100 metres rsonal use only ▪ Results i
Slide 13: Capricorn Copper
rsonal use only Capricorn Copper
Slide 14: Potential value to be unlocked at Capricorn Copper
Potential value to be unlocked at Capricorn Copper Large Mineral Resources1, established infrastructure and ~1,900km2 land position in prolific Mt. Isa inlier province ✓ Substantial Mineral Resources1 with potential for in-mine and near-mine extensions ✓ Processing plant & other surface infrastructu
Slide 15: Capricorn Copper production restart imperatives
Capricorn Copper production restart imperatives Immediate focus on short term water reduction Imperative Objective Activity in Dec-Qtr-2024 rsonal use only Immediate term focus ▪ Environmental Enforcement Order (‘EEO’) received, removing limits on the maximum volume of controlled treated water relea
Slide 16: Prepared for treated water releases during 2024/2025 wet season
Prepared for treated water releases during 2024/2025 wet season (Nov–Apr) Total water reduction of ~200ML achieved in Dec-Qtr, including 72ML of treated water release from the water treatment plant (repurposed process plant1). Higher flows than observed to date are required in Gunpowder Creek for re
Slide 17: Capricorn Copper site water inventory summary
Capricorn Copper1 Site water inventory summary Mill Creek Workshop Area 0.2GL water reductions during the Dec-Qtr-2024 Dam (MCD) Gunpowder Creek Ponds Site water Inventory 31 December 2024: 3&4 rsonal use only 0.2GL Gigalitres (GL) 3.5 0.5 3.3 0.1 0.5 2.8 Maximum Operating Level 2.2 (MOL)2 Esperanza
Slide 18: Significant reduction in cash outflows planned in 2025
Significant reduction in cash outflows planned in 2025 Reduction of cash outflows expected into 2025 as environmental compliance and water management capital projects are completed, and operating costs are reduced to reflect lower steady state activity levels focused on immediate term imperative of
Slide 19: Corporate
rsonal use only Corporate
Slide 20: Senior debt refinancing
Senior debt refinancing Refinancing reduces debt levels, extends maturities and supports Gossan Valley investment to optimise Golden Grove’s life-of-mine plan Existing Refinanced Debt amortisation (US$ million)1 Debt amortisation (US$ million)1 ✓ rsonal use only US$18 million debt reduction Balance
Slide 21: Balance sheet and cash flows
Finance and Corporate Balance sheet and cash flows Unaudited group cash and cash equivalents, and available liquidity ($ million)1 Comments rsonal use only ▪ Fully underwritten $180 million Equity Raising completed2. 16 268 ▪ Golden Grove operating cash flows and free cash flows of 252 $48 million a
Slide 22: Unlocking value to empower the future
rsonal use only Unlocking value to empower the future 22