Coda Minerals Ltd · ASX:COD
Coda Minerals — RIU Explorers Conference - Fremantle 2026
23 slides from Coda Minerals's conference presentation, Feb 17, 2026
Slide 1: Coda Minerals Investor Presentation
For personal use only ASX COD Coda Minerals Investor Presentation RIU Explorers - Fremantle February 2026
Slide 2: Important Notices
ASX COD Important Notices Nature of this document: The purpose of this presentation is to provide general information about Coda Minerals Limited (ACN 625 763 957) (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and esti
Slide 3: www.codaminerals.com
For personal use only www.codaminerals.com
Slide 4: Investment highlights: Elizabeth Creek, South Australia
SOUTH AUSTRALIA OLYMPIC DAM STAGE ELIZABETH OAK DAM WEST CARRAPATEENA Scoping Study Phase CREEK NPV7 (Pre-Tax) :2.3B & IRR: 56% For personal use only TEAM PORT AUGUSTA Experienced Board >17 Project Experience LOCATION South Australia Supportive jurisdiction, low sovereign risk ADELAIDE SOLID FOUNDAT
Slide 5: Major Cu-Ag-Co resource in an exceptional jurisdiction
ASX COD OLYMPIC DAM - BHP 114KM NN ROXBY DOWNS OAK DAM WEST - BHP For personal use only 16KM NE WOOMERA CARRAPATEENA - BHP CODA MINERALS 40KM EAST ELIZABETH CREEK Major Cu-Ag-Co Total Area: 701 km2 Resource in an exceptional jurisdiction PORT AUGUSTA SOUTH AUSTRALIA with massive upside N 0 25 50 km
Slide 6: Coda's Copper Portfolio
ASX:COD ELIZABETH CREEK Total Area: 701 km2 EMMIE BLUFF CODA’S COPPER PORTFOLIO (FLAGSHIP) Underground 65.5Mt @ 1.6% CuEq Deposit For personal use only EMMIE DEEPS ~ 400m depth Iron Oxide Copper Gold (IOCG) Underground Deposit ~ 800m depth > 1 Million Tonnes of CuEq WINDABOUT Open Pit Deposit JORC R
Slide 7: Shallow by global standards
ASX:COD SHALLOW BY GLOBAL STANDARDS For personal use only EMMIE BLUFF WILL BE MINED AT • SHALLOWER DEPTH • LARGER AVERAGE MINED THICKNESS; AND • LOWER THROUGHPUT THAN IS ACHIEVED AT SIMILAR DEPOSITS WORLDWIDE Upper Lower Average Avg Mined Project Nation Mining Mining Productivity Thickness Depth Dep
Slide 8: Corporate
ASX COD CORPORATE $0.17 372M $63M $11.25M Share Price Ordinary Shares Market Capitalisation Cash and Equivalents For personal use only 12 February 2026 12 February 2026 12 February 2026 31 December 2025 4.5 0.22 Volume Close Announcements Market Data ASX:COD 0.20 4.0 2025.11.13 -Elizabeth Creek Dril
Slide 9: Metallurgy – Whole Ore Leach
Copper ASX:COD METALLURGY – WHOLE ORE LEACH RECOVERY Cu 29 94.8% Simplified flowsheet For personal use only Silver Source: LME delivering exceptional recoveries in a Ag 47 98.2% strengthening Cu & Ag market FLOWSHEET Source: silverprice.org SX/EW JAW CRUSHER COPPER WHOLE ORE LEACH ROM CATHODE MILLIN
Slide 10: Emmie Bluff Underground Mining
ASX:COD EMMIE BLUFF UNDERGROUND MINING 40.2Mt @ 1.9% CuEq 400m For personal use only RESOURCE 31.81Mt @ 1.8% CuEq PRODUCTION TARGET 13 Years MINE LIFE NEXT STEPS Emmie Bluff MRE Update Integrating recent drilling data In Progress Optimise production targets leveraging updated recoveries Mine Plannin
Slide 11: Key Financial Metrics
ASX:COD KEY FINANCIAL METRICS PREVIOUS UPDATED SPOT STUDY BASE CASE PRICE Cu $9,260/t $10,500/t $13,108/t For personal use only Ag $30/oz $60/oz $82/oz PREVIOUS UPDATED SPOT FX AUD:USD 0.68 0.68 0.71 STUDY BASE CASE PRICE REVENUE 3% 2% 2% NPV7 PRE-TAX (A$B) $1.29Bn $2.25Bn $3.32Bn BREAKDOWN 12% 20%
Slide 12: Catalyst Rich Newsflow
CATALYST RICH NEWSFLOW PFS RAPIDLY ADVANCING Next Steps For personal use only Drilling Program Complete ✓ Major PFS Milestone Achieved – Powering Next-Phase Studies Updated Emmie Bluff MRE In Progress Leveraging Recent Drilling to Deliver Updated Mineral Resource Estimate Flowsheet & Metallurgy In P
Slide 13: PFS – Key to Commercialisation
PFS – KEY TO COMMERCIALISATION For personal use only PFS Most fundamental step on the road to development NPV7 (Pre-Tax) :2.3B & IRR: 56% VALUE UPLIFT Peers have seen huge value uplift Targeting a commercial outcome to unlock development TIMING Copper & Silver at historic highs Increasing M&A activi
Slide 14: Appendices
For personal use only Appendices
Slide 15: Appendix A: Statements – Mineral Resources
APPENDIX A: STATEMENTS Mineral Resources Mineral Resources and Exploration Targets For personal use only 1. MG14 Indicated Mineral Resource: The information is extracted from the report entitled "Confirmation Statements JORC" created on 26th October 2020 and is available to view at: https://cdn-api.
Slide 16: Appendix A: Competent Person Statement
APPENDIX A: STATEMENTS Competent Person Statement Competent Person Statement for JORC 2012 Mineral Resources - MG14 & Windabout For personal use only This report was prepared in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Slide 17: Appendix B: Aggregated Mineral Resources at Elizabeth Creek
APPENDIX B: MINERAL RESOURCES Aggregated Mineral Resources at Elizabeth Creek OPEN PIT Proposed Tonnage Cut-off Copper Cobalt Silver Zinc Copper Equivalent For personal use only Resource Category Type Mining Mt Grade Grade Contained Grade Contained Grade Contained Grade Contained Grade Contained Met
Slide 18: Appendix C: Metal Equivalent Calculations
APPENDIX C: METAL EQUIVALENT CALCULATIONS Statement Regarding Metal Equivalent Calculations Metal Equivalent grades are quoted for one or more of the Emmie Bluff, Windabout and MG14 Mineral Resources, or for exploration results considered by the company to be related directly to one of these Mineral
Slide 19: Appendix C: Metal Equivalent Calculations (continued)
APPENDIX C: METAL EQUIVALENT CALCULATIONS Statement Regarding Metal Equivalent Calculations (continued) The calculation of this metal equivalent is based on the following assumptions: For personal use only Metal Mining Dilution % Recovery % Payability % Forecast Price Price Unit Recovery % Copper 0.
Slide 20: Appendix D: Statements & References
APPENDIX D: STATEMENTS & REFERENCES Production Targets – Listing Rule 5.19.2 For personal use only In relation to any Production Target or any forecast financial information based on any Production Target quoted or referenced in this announcement, the Company confirms that all material assumptions u
Slide 21: Appendix E: Board of Directors & Senior Management
APPENDIX E : BOARD OF DIRECTORS & SENIOR MANAGEMENT Keith Jones Susan Park NON-EXECUTIVE CHAIR COMPANY SECRETARY For personal use only Chartered Accountant and senior mining industry leader with over 40 years of Over 25 years’ experience in the corporate finance industry and extensive corporate advi
Slide 22: Appendix F: Comparable Underground Copper Projects Data
APPENDIX F : COMPARABLE UNDERGROUND COPPER PROJECTS DATA Avg Mining Other Mine Name Company Project Status Location Thickness Depth Source Thickness Sources For personal use only Lubin KGHM Operating Poland 1.5-5.5m 2.8m 368-1006m https://kghm.com/sites/kghm2014/files/mrmr_english.pdf Polkowice- KGH
Slide 23: For personal use only
For personal use only 6 Altona Street West Perth WA 6005 08 6270 6331 info@codaminerals.com
Coda Minerals — RIU Explorers Conference - Fremantle 2026 on 6ix