Los Andes Copper Ltd. · TSXV:LA
Los Andes Copper — Investor Presentation (September 2026)
23 slides from Los Andes Copper's investor presentation, September 2026
Slide 1: Vizcachitas: Chile's Next Copper Giant
TSX-V:LA Vizcachitas Chile’s Next Copper Giant Extraordinary Value | Massive Scale September 2026 www.losandescopper.com
Slide 2: Disclaimer
TSX-V:LA 2 Disclaimer Certain of the information and statements contained in this presentation constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as: “believe”, “expect”,
Slide 3: Value & Growth in copper
TSX-V:LA 3 Value & Growth in copper 11 Billion lbs CuEq Initial Reserves * · 15 Billion lbs CuEq Measured and Indicated Resources · 15 Billion lbs CuEq Inferred Resources Positive PFS robust economics · post-tax NPV8 US$2.8 billion IRR 24% at US$3.68 Cu · post-tax NPV8 US$5.48 billion IRR 37% at US$
Slide 4: Building the future supply of copper
TSX-V:LA 4 Building the future supply of copper Sustainable mining design – reduced water & power consumption and Project footprint Access to existing infrastructure – roads, ports, rail, power 26 - year initial life of mine with potential for significant extension 183,000 tpy of Cu production durin
Slide 5: Copper: Essential to Electrification - Current Opportunity
TSX-V:LA 5 Copper: Essential to Electrification - Current Opportunity The long-term Electrification is A copper deficit Scarcity fundamentals a long-term is coming of greenfield have not driver of copper projects to changed demand provide a supply response
Slide 6: Share Capital
TSX-V:LA 6 Share Capital Market Cap* C$ 391 M Board of Directors: Share Price* C$ 12.86 Eduardo Covarrubias Chairman Corinne Boone Director 52 week high - low C$ 18.97/6.40 Francis O’Kelly Director Paul Miquel Director Cash as of June 30, 2026 C$17.6 M Francisco Covarrubias Director Shares Outstandi
Slide 7: Located Within Chile's Prolific Central Copper Belt
X TSX-V:LA 7 Los Pelambres Located Within Chile’s Chile Argentina Prolific Central Copper Belt Proven & Measured & Inferred Probable Reserves Indicated Resources Resources X Project Cu lb billions Cu lb billions Cu lb billions Los Pelambres1 9.2 36.7 26.4 Vizcachitas Los Bronces2 16.8 56.9 126.3 X R
Slide 8: Infrastructure Advantages
Chile TSX-V:LA 8 Highways Infrastructure Advantages Railroad Vizcachitas Project Low elevation, 1,950 meters above sea level X El Soldado Port of 60km from 220KV substation Los Andes Argentina Ventanas Substation Desalinated water LOI signed in September 2022 Port of Chagres Valparaiso smelter Nearb
Slide 9: Surrounded by Mining Majors
TSX-V:LA 9 Chile Surrounded by Mining Majors Legend Historical Limit Exploration and Mining Claims Preference for projects of scale New Mining Claims low capital intensity M&A gives potential bolt-on development Existing roads, power and other infrastructure
Slide 10: Amongst the Largest & Lowest Cost Undeveloped Copper Projects
10 TSX-V:LA Amongst the Largest & Lowest Cost Undeveloped Copper Projects One of the largest projects not held by a major (Central & South American copper projects with resources >1,500Mt) $3.5 0.6 $3.0 La Granja $2.5 0.5 El Pachon Los Chancas Vizcachitas Michiquillay $2.0 Copper grade, % LoM Taca T
Slide 11: 2023 PFS Economics
TSX-V:LA 11 2023 PFS Economics Mill capacity (dmt) 136,000tpd Cu production (first 8 years) 183,000tpy Meaningful initial production, long-life Head grade (first 8 years) 0.52% CuEq* asset with potential for significant LOM 26 years extension C1 cash cost (first 8 years) US$0.93/lb Initial capex US$
Slide 12: Copper Price Sensitivity
TSX-V:LA 12 Copper Price Sensitivity 6,000 40% 35% 5,000 30% (After-tax ) US$ Million 4,000 25% Project NPV IRR (%) 3,000 20% 15% 2,000 10% 1,000 5% - 0% 2.75 3.00 3.25 3.50 3.68 3.75 4.00 4.25 4.50 4.75 5.00 NPV (After-tax) 800 1,342 1,861 2,381 2,776 2,900 3,420 3,939 4,459 4,979 5,480 IRR (%) 14%
Slide 13: Potential to Continue Growing Deposit
TSX-V:LA 13 Potential to Continue Growing Deposit East • Extend mineralization from CMV-012B, first deep drill hole to the east of diatreme • Same mineralization as the historical center • Redefines the potential center of the deposit West • The 2022 drilling extended the mineralization to the west
Slide 14: PFS Project Design Features
TSX-V:LA 14 PFS Project Design Features Mine • Mine designed for autonomous fleet • Mine design considers extensive access works to accelerate production ramp up • Minimize uphill material movement and haulage distances Comminution and Processing • HPGR tertiary crushing reduces energy consumption,
Slide 15: Environment
TSX-V:LA 15 Environment Use of desalinated Introduction of HPGR Use of dry-stacked Scope 1 CO2 emissions water and 50% water on the grinding tailings reduces the are 1.02 t CO2E / t CuEq consumption circuit reduces power footprint hectares produced and reduction through the consumption by 25% confin
Slide 16: Community Engagement
TSX-V:LA 16 Community Engagement Social and political Los Andes Copper 320+ meetings with Use of desalinated context similar to Community team, different stakeholders water offers other major Copper based in Putaendo, in the last two years opportunity for water operations in Chile building relations
Slide 17: Advancing Vizcachitas Development
TSX-V:LA 17 Advancing Vizcachitas Development Potential Environment Commencement Permits and of commercial Construction operations Completion Funding 2033 PFS Completed of FS Study 2028 - 2030 Q1-2023 2028 Construction Updated Value 2030- 2033 Resources – Emphasized and Mine Plan for the PFS Project
Slide 18: Management, Experienced Across Disciplines
TSX-V:LA 18 Management, Experienced Across Disciplines ALBERTO CERDA ANTONY AMBERG IGNACIO MELERO HARRY NIJJAR MANUEL MATTA Mining Project Director Interim Chief Executive Officer Director of Corporate Affairs Chief Financial Officer Senior Mining Project & Chief Geologist & Sustainability Consultan
Slide 19: Board
TSX-V:LA 19 Board EDUARDO COVARRUBIAS CORINNE BOONE PAUL MIQUEL Executive Chairman Director Director Oversaw the mining interests of Turnbrook Corporation Over 25 years of experience focused on sustainable Experience working in international investment banking prior to the consolidation of ownership
Slide 20: Contacts
TSX-V:LA 20 Contacts Antony Amberg, Interim CEO & Chief Geologist Antony.amberg@losandescopper.com Elizabeth Johnson, Investor Relations Elizabeth.johnson@losandescopper.com
Slide 21: Appendix
TSX-V:LA 21 Appendix ~~ LOS ANDES COPPER:
Slide 22: 2023 Initial Reserve Statement
TSX-V:LA 23 2023 Initial Reserve Statement Tonnage Cu Grade CuEq Mo Grade Ag Grade Cu Mo Ag CuEq Category (000 t) (%) (%) (ppm) (g/t) (million lb) (million lb) (million oz) (million lb) Proven 302,247 0.41 0.45 135 1.2 2,714 89.8 11.9 3,031 Probable 917,685 0.34 0.39 136 1.1 6,908 275.3 31.8 7,858 P
Slide 23: 2023 Resource Statement
TSX-V:LA 24 2023 Resource Statement Resource Classification Tonnage Cu Grade CuEq Mo Grade Ag Grade Cu Mo Ag CuEq @0.25% Cu cut-off (Mt) (%) (%) (ppm) (g/t) (million lb) (million lb) (million oz) (million lb) Measured Resources 273 0.433 0.482 139 1.3 2,605 84 11 2,900 Indicated Resources 1,268 0.37
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