Atalaya Mining Copper Sa · LSE:ATYM
Atalaya Mining Copper Sa — Atalaya Mining — RBC Global Mining & Materials Conference 2026
40 slides from Atalaya Mining Copper Sa's conference presentation, June 2026
Slide 1: European copper producer with operations in Spain
European copper producer with operations in Spain RBC Global Mining & Materials Conference June 2026
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by Atalaya Mining (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give
Slide 3: Disclaimer: Technical Disclosure
Disclaimer: Technical Disclosure Technical Disclosure – Proyecto Riotinto Mineral Resources and Ore Reserves for the Cerro Colorado and San Dionisio deposits (stockwork material) are effective 30 June 2025 and were prepared by SRK Consulting (UK) Limited. The Reporting Standard adopted for reporting
Slide 4: Introduction
ATALAYA MINING > Introduction
Slide 5: Atalaya Snapshot
Atalaya Snapshot European copper producer with operations in Spain Ticker . Operations Asset locations ATYM Riotinto District TOURO LSE Main Market 15 Mtpa processing plant FTSE 250 Index Cerro Colorado mine SPAIN constituent San Dionisio deposit MADRID San Antonio deposit OSSA MORENA Proyecto Masa
Slide 6: Operating Performance
Operating Performance Stable copper producer following the delivery of multiple expansions Throughput (Mt) Copper Production (kt) (1) 1. Low end 6
Slide 7: Q1 2026 Financial Results
Q1 2026 Financial Results
Slide 8: Review of Q1 2026
Review of Q1 2026 Good financial performance to begin 2026 despite lower production ‒ Copper production of 9.9 kt, which was impacted by unfavourable weather ‒ Cash Costs of US$2.52/lb and AISC of US$3.20/lb, which are consistent with FY2026 cost guidance Operating despite lower copper production ‒
Slide 9: Q1 2026 Production Results
Q1 2026 Production Results Well positioned for future growth despite recent weather events Copper production Ore Throughput (Mt) 9,939 tonnes Cu 14,291 tonnes Cu | Q1 2025 Throughput & recoveries 4.1 Mt ore processed 0.30% Cu grade Copper Recovery 4.2 Mt | Q1 2025 0.42% | Q1 2025 81.54% Cu recovery
Slide 10: Q1 2026 Financial Results
Q1 2026 Financial Results Good financial performance to begin 2026 despite lower production Income statement highlights Revenues (€m) Revenue: €117.3m Op. costs: €(69.2)m €130.7m | Q1 2025 €(78.2)m | Q1 2025 EBITDA: €48.0m Profits: €28.3m €52.5m | Q1 2025 €30.5m | Q1 2025 Cash flow statement highlig
Slide 11: Cash Costs & AISC Breakdown
Cash Costs & AISC Breakdown Q1 2026 costs are consistent with full year guidance despite lower production US$/lb Copper Payable Q1 2026 Q1 2025 FY2025 FY2024 ▪ Cash Costs and AISC were impacted Mining 1.31 0.85 1.01 1.07 by lower production, but Processing 1.10 0.80 0.85 0.90 remain consistent Other
Slide 12: AISC Benchmarking
AISC Benchmarking ATYM cost positioning is competitive vs. notable copper producer peers Reported AISC (US$/lb) Atalaya 29Metals Capstone First Quantum Constancia Copper Mountain Candelaria Caserones Neves-Corvo Lumwana Zaldívar (Hudbay) (now Hudbay) (Lundin) (Lundin) (now Boliden) (Barrick) (Antofa
Slide 13: 2026 Guidance
2026 Guidance Minor impact from Q1 2026 production; potential for Middle East cost impact Operational Guidance ▪ Production Ore mined Mt 15.5 – 16.0 ‒ Heavy rainfall in late January / early February 2026 impacted Q1 2026 copper production Waste mined (1) Mt 38 – 44 ‒ Portion of production shortfall
Slide 14: Strategic Focus
ATALAYA MINING > Strategic Focus
Slide 15: San Dionisio Deposit
San Dionisio Deposit Stripping underway and expected to deliver higher-grade feed to the plant May 2026 Copper Resource Grade (M&I)(1) Waste stripping at San Dionisio is expected to be 19 – 23 Mt in 2026E Note: CuSW = copper stockwork; PolyMS = polymetallic massive sulphide 1. Per 2025 Annual Report
Slide 16: Proyecto Masa Valverde
Proyecto Masa Valverde Planned access ramp to allow for initial exploitation of copper zone(1) 3D View Looking Southwest Access ramp development expected to be completed over 2 – 3 years at a cost of ~€30 – 40m(2) 1. Access ramp development is subject to final Board approval 2. Atalaya management es
Slide 17: Atalaya's Polymetallic Resources
Atalaya’s Polymetallic Resources Significant resource base of higher-grade material near existing infrastructure Atalaya Resources in the Riotinto District(1)(2)(3)(4) Resources that could be exploited through the development of a polymetallic circuit 1. Cerro Colorado and San Dionisio O/P CuSW per
Slide 18: Riotinto Polymetallic Circuit
Riotinto Polymetallic Circuit Expected to enhance operational flexibility and treat higher-grade material Riotinto Processing Plant: Modifications and Future Flowsheet Development of a polymetallic circuit would involve relatively simple modifications to the existing processing plant at Riotinto Exi
Slide 19: Resource Definition and Growth
Resource Definition and Growth Focus is on increasing resource confidence and making new discoveries Key Projects ▪ Polymetallic deposit located ~1 km east of the Cerro Colorado pit ▪ Current inferred resource San Antonio ‒ 11.8 Mt at 1.32% Cu, 1.79% Zn, 0.99% Pb ▪ Near-term focus: ‒ Further infill
Slide 20: Mining Policy in Galicia
Mining Policy in Galicia Increasing focus on the responsible development of critical minerals resources 20
Slide 21: Touro: Early Works
Touro: Early Works Engineering works to enable rapid project execution once final permits received Conceptual Touro Processing Plant Design 21
Slide 22: Touro: Path to Multi-Asset Future
Touro: Path to Multi-Asset Future Competitive capital intensity & favourable characteristics to support economics Touro(1) Riotinto(2) Copper Production ktpa ~30 50+ Initial Capex US$m ~$250 – 300 Capex Intensity US$/t produced <$10,000 Strip Ratio w:o <2.0 ~2.1 Copper Grade ~0.42% 0.37% Copper Reco
Slide 23: Atalaya's Growth Objectives
Atalaya’s Growth Objectives Portfolio of growth projects provide a pathway up to 100 ktpa CuEq production Annual Copper Equivalent Production (kt)(1)(2)(3) Masa Valverde polymetallic Riotinto East San Dionisio Copper Ossa Morena (4) Masa Valverde Copper Riotinto polymetallic MPS earn-in Copper | Zin
Slide 24: Appendix
ATALAYA MINING > Appendix
Slide 25: Why Invest in Atalaya?
Why Invest in Atalaya? ▪ MAP Established European copper producer with attractive scale ▪ ASSETS ‒ Leading copper “pure play” listed in London and FTSE 250 constituent ‒ 2026 production guidance of 50 – 54 kt Cu (1) Significant growth potential ‒ Portfolio of low-risk projects providing a pathway up
Slide 26: Key Information
Key Information Capitalisation Share Price Performance (GBp) Ticker - LSE: Main Market ATYM Share price (04-Jun-26) GBp 841.5 Basic shares m 153.8 Fully-diluted shares m 160.5 Market capitalisation (basic) £m 1,294 Market capitalisation (basic) US$m $1,736 Cash (at 31-Mar) €m 280 Debt (at 31-Mar) €m
Slide 27: Electricity Prices in Spain
Electricity Prices in Spain Stability has returned to market electricity prices Spot Market + Adjustment in Spanish System (€/MWh)(1)(2) 1. Source: OMI, Polo Español S.A. (OMIE), day-ahead operations program 2. Since 15-Jun-2022, includes daily adjustment mechanism related to legislated gas cap 27
Slide 28: Riotinto Solar Plant
Riotinto Solar Plant Reducing Atalaya’s carbon footprint and processing costs February 2025 Electricity Sources(1) 1. Upon completion of solar plant’s 2nd phase 28
Slide 29: Proyecto Touro: Background
Proyecto Touro: Background Past producing mine located in a region with high quality infrastructure 29
Slide 30: Touro: Permitting Progress
Touro: Permitting Progress Public support and “strategic” status following proactive engagement strategy ▪ In June 2024, the project was awarded the status of strategic industrial project (or proxectos industriais estratéxicos (“PIE”)) by the Xunta de Galicia ▪ In January 2025, the public consultati
Slide 31: Iberian Pyrite Belt
Iberian Pyrite Belt World class minerals district Riotinto Masa Valverde 31
Slide 32: Riotinto District
Riotinto District World class regional infrastructure 32
Slide 33: Regional Infrastructure
Regional Infrastructure Access to the critical inputs required for modern and sustainable operations $/t Copper Production Villages Fresh water reservoirs Current TSF Transmission line Planned future TSF NOT REQUIRED: Fresh water reservoir • Labour camps • Fly-in fly-out Villages • Desalination • Pi
Slide 34: Proyecto Riotinto: 2014 vs. Today
Proyecto Riotinto: 2014 vs. Today Original Mills – 2014 New Mills – Today 34
Slide 35: Riotinto Operating & Funding History
Riotinto Operating & Funding History Re-start & expansions delivered with low capex intensity & limited equity dilution Expansion History and Throughput (Mt) Re-start – 5.0 Mtpa Expansion to 9.5 Mtpa Expansion to 15.0 Mtpa Executed: 2015 Executed: 2016 Executed: 2019 Capex: US$82m Incremental Capex:
Slide 36: Riotinto Deposits
Riotinto Deposits Adjacent deposits are expected to be mined concurrently Long Section San Dionisio Cerro Colorado San Antonio CuSW Mineralised material PolyMS CuSW PolyMS Open pit Mining method Underground Open pit Underground Legend Copper grade 0.00 – 0.139% 0.14 – 0.199% 0.20 – 0.499% 0.50 – 0.9
Slide 37: Reserves and Resources
Reserves and Resources Attributable Grade Contained Metal Contained Metal Asset Ownership Tonnage Cu Zn Pb Au Ag Cu Zn Pb Au Ag CuEq Cu CuEq Notes Mt g/t g/t Mt Mt Mt Moz Moz Mt Mt Mt Cerro Colorado & San Dionisio O/P Cu 100% Reserves 132.0 0.40% - - - - 0.5 - - - - 0.5 0.5 0.5 Reserves at 0.16% Cu
Slide 38: Senior Management
Senior Management Decades of operations, project development and financial expertise Alberto César Fernando Fernando Lavandeira Sánchez Araúz de Robles Díaz Riopa Chief Executive Officer, Chief Financial Officer General Manager, General Manager, Director Proyecto Riotinto Proyecto Touro Over 40 year
Slide 39: Board of Directors
Board of Directors Mining, capital markets, sustainability and finance expertise Non-Executive Over 30 years’ experience investing in mining and oil and gas companies. From 2010-2020, was a Managing Director at J.P. Neil Chair of the Morgan Asset Management. Before that, from 1990-2009, was Head of
Slide 40: Atalaya Mining Copper, S.A. Investor Relations
Contacts: Atalaya Mining Copper, S.A. Alberto Lavandeira, CEO +34 959 59 28 50 info@atalayamining.com Investor Relations Michael Rechsteiner michael.rechsteiner@atalayamining.com
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