Slide 1: Marathon Copper-Palladium Mine
MARATHON COPPER-PALLADIUM MINE BUILDING CANADA’S NEXT CRITICAL MINERALS MINE January 2026
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT TSX:GENM OTCQB: GENMF This presentation contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expect
Slide 3: Value Proposition: Why Generation Mining
VALUE PROPOSITION: WHY GENERATION MINING TSX:GENM OTCQB: GENMF Copper-Palladium project in Shovel-ready with all tier one jurisdiction in necessary construction Northwestern Ontario permits approved Trading at a substantial Strong support from local discount to its peers – approx. Indigenous communi
Slide 4: Polymetallic Global Resources
POLYMETALLIC GLOBAL RESOURCES TSX:GENM OTCQB: GENMF PALLADIUM PLATINUM COPPER 4 million oz. 1.3 million oz. 1.1 billion lbs. First 3 Years of Operations 240 koz. Pd 50 Mlbs. Cu GOLD Per Anum SILVER 510,000 oz. 13 million oz. # Total Measured and Indicated Mineral Resource estimates. For additional i
Slide 5: Active Mines in Northwestern Ontario
ACTIVE MINES IN NORTHWESTERN ONTARIO TSX:GENM OTCQB: GENMF Hemlo Mining Corp: Hemlo Gold Mine (Formerly owned by Barrick) Alamos Gold: Magino & Island Gold Mines Equinox Gold: Greenstone Mine Impala Platinum: Lac Des Iles Mine Wesdome: Eagle River 5
Slide 6: Excellent Location and Jurisdiction
EXCELLENT LOCATION AND JURISDICTION TSX:GENM OTCQB: GENMF o Located on Trans-Canada Highway o Served by CPR main rail line o Main Marathon deposit is 10 km from Town of Marathon (~3,000 pop.) o New 230kV power line from Wawa to Thunder Bay crosses property o 276 Bed Construction Camp (Option to own)
Slide 7: Why Is Copper Important for the Future
WHY IS COPPER IMPORTANT FOR THE FUTURE TSX:GENM OTCQB: GENMF o Copper is fundamental to the energy transition and data centres (need up to 30,000 tonnes of copper) because it is essential for electricity generation, distribution, data centres and storage. o Lack of new discoveries over the past 10 y
Slide 8: Why Palladium Is Important for the Future
WHY PALLADIUM IS IMPORTANT FOR THE FUTURE TSX:GENM OTCQB: GENMF o Primary demand of platinum (Pd) is for catalytic converters of Internal Combustion Engines (ICE) which include hybrid and plug-in hybrid. o Worldwide adoption of Hybrid Electric Vehicles is accelerating. o Hybrid Electric Vehicles use
Slide 9: Light Duty Vehicle Sales 2015 to 2025
LIGHT DUTY VEHICLE SALES 2015 TO 2025 TSX:GENM OTCQB: GENMF 9
Slide 10: GENM Value Proposition
GENM VALUE PROPOSITION GENERATION MINING | IVANHOE ELECTRIC | FORAN MINING TSX:GENM OTCQB: GENMF Generation Mining Ivanhoe Electric Foran Mining Market Capitalization C$240 million C$3.34 billion C$2.93 billion Status DFS & Permitted PFS & Permitting Construction Capex US$770 million US$1.23 billion
Slide 11: March 2025 Feasibility Study Highlights ($CAD)
MARCH 2025 FEASIBILITY STUDY HIGHLIGHTS ($CAD) TSX:GENM OTCQB: GENMF After-Tax NPV6% After-Tax IRR Initial Capital4 Payback Period $1.07 Billion (FS) 28% (FS) $992 Million CAD 1.9 years (FS) $2.2 Billion (Spot) 42% (Spot) $703 Million USD 1.3 years (Spot) Average Annual AISC Net of LOM Payable Produ
Slide 12: Revenue & EBITDA -- Feasibility & Spot Metal Prices
REVENUE & EBITDA -- FEASIBILITY & SPOT METAL PRICES TSX:GENM OTCQB: GENMF Gross Revenue and EBITDA 1,400 1,200 1,000 800 600 400 200 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 (200) Gross Revenue (Incl. Stream Adjustment) @ FS Price Deck Incremental Gross Revenue (Incl. Stream Adjustment) @ Spot EBI
Slide 13: After-Tax Cash Flow
FEASIBILITY PRICING GROSS REVENUE TSX:GENM OTCQB: GENMF 600 4,000 500 409 3,000 400 342 300 258 267 2,000 240 209 191 196 After-Tax Cash Flow (M C$) 181 Cumulative After-Tax CF (M C$) 200 172 164 1,000 100 68 (2) (100) (1,000) (200) (154) (149) (300) Payback (2,000) (400) (361) After-Tax Cash Flow C
Slide 14: Construction Permitting Completed
CONSTRUCTION PERMITTING COMPLETED TSX:GENM OTCQB: GENMF Supporting Technical Regulatory Key Permit Regulatory Agency Documents Approval Phase 1 - Necessary to start early works Closure Plan Ministry of Mines Complete Received Ministry of Environment, Endangered Species Act Permit Complete Received C
Slide 15: Advancing the Marathon Project Towards Production
ADVANCING THE MARATHON PROJECT TOWARDS PRODUCTION TSX:GENM OTCQB: GENMF PROGRESS ENGINEERING, FIRST COMMENCE NATIONS’ AGREEMENTS and PERMITS CONSTRUCTION PALLADIUM ENVIRONMENTAL ASSESSMENT & COPPER DECISION PRODUCTION TIMELINE (ESTIMATED) Before 2025 2025 H1 2026 H2 2026 C$240 Million Wheaton Precio
Slide 16: The Financial Road Map to Production
THE FINANCIAL ROAD MAP TO PRODUCTION ALL NUMBERS IN CAD TSX:GENM OTCQB: GENMF Initial Capital Costs $992 Million.(a) ($703 Million USD) Wheaton Precious Metals Stream: early deposit of $40 million (received) and $200M construction payments for 100% gold and 22% platinum production. Mandate letter fo
Slide 17: Copper Equivalent Grade Comparables
COPPER EQUIVALENT GRADE COMPARABLES TSX:GENM OTCQB: GENMF MARA Glencore 0.79% Marathon Project Generation Mining 0.70% FS Grade Galore Creek Teck / Newmont 0.69% Copper World Hudbay 0.63% Reko Diq Barrick 0.60% Taca Taca First Quantum 0.52% Schaft Creek Teck / Copper Fox 0.47% Catcus Arizona Sonoran
Slide 18: Generation Mining Peer Positioning
GENERATION MINING PEER POSITIONING TSX:GENM OTCQB: GENMF Development Stage Comparables | Market Capitalization (US$M) $2,453 $2,199 $1,066 $870 $866 $776 $665 $636 $517 $361 $325 $200 $163 $162 $78 $21 $13 Ivanhoe Foran Marimaca Trilogy ATEX Arizona NorthIsle Western Faraday Osisko Copper Fox Highla
Slide 19: Base Metal Developer Comparables
BASE METAL DEVELOPER COMPARABLES TSX:GENM OTCQB: GENMF Flagship Market Enterprise R&R EV/R&R Company Location Stage P/NAV Property Capitalization Value 2P MI&I 2P MI&I US$M US$M Ratio Blbs CuEq Blbs CuEq US$/lb CuEq US$/lb CuEq Ivanhoe Electric Santa Cruz Nevada PFS $2,453 $2,617 1.04x 4.0 17.2 $0.6
Slide 20: Lassonde Curve – The Discovery Lifecycle
LASSONDE CURVE – THE DISCOVERY LIFECYCLE TSX:GENM OTCQB: GENMF Funding risk Technical risk Exploration risk HIGH Discovery This is most likely the time when VALUE There is a tipping point in exploration when people outside of the mining industry hear of a new discovery drilling amounts to a real min
Slide 21: Corporate Structure
CORPORATE STRUCTURE TSX:GENM OTCQB: GENMF Issued and Outstanding 319,550,516 Offering Warrants Analyst Coverage Warrants - expiry 11/21/2026 - $0.50 10,257,953 Pierre Vaillancourt Warrants - expiry 08/24/28 - $0.48 13,773,370 Warrants - expiry 01/15/28 - $1.00 23,960,250 Options 5,698,131 RSUs 2,867
Slide 22: Management Team
MANAGEMENT TEAM TSX:GENM OTCQB: GENMF JAMIE LEVY CLINTON SWEMMER P.Eng PrEng (rsa) PMP MSAICE President, CEO & Director VP Projects Mr. Levy is President, Chief Executive Officer and a director of the Mr. Swemmer is a seasoned project leader with over 25 years of global Company. Prior thereto, Mr. L
Slide 23: Board of Directors
BOARD OF DIRECTORS TSX:GENM OTCQB: GENMF KERRY KNOLL JAMIE LEVY Chairman President and CEO Mr. Knoll was a co-founder of Generation Mining and started several mining Mr. Levy is President, Chief Executive Officer and a director of the Company. Prior companies over the past four decades, including su
Slide 24: Jamie Levy
Jamie Levy President & CEO Email: Jlevy@genmining.com Phone: 416 567 2440 100 King St West, Suite 7010 Toronto, Ontario, Canada M5X 1B1
Slide 25: Appendix
GENERATION MINING Appendix
Slide 26: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES TSX:GENM OTCQB: GENMF Mineral Reserves (Marathon Deposit) Tonnes Pd Cu Pt Au Ag Classification Mt g/t koz % M lb g/t koz g/t koz g/t koz Proven 115.5 0.66 2,434 0.22 549 0.20 754 0.07 264 1.7 6,242 Probable 12.7 0.47 193 0.20 56 0.15 61 0.06 26 1.6 635 Total P&P 128.3
Slide 27: Mineral Resources by Deposit
MINERAL RESOURCES BY DEPOSIT TSX:GENM OTCQB: GENMF Mineral Tonnes Pd Cu Pt Au Ag Resource Classification Mt g/t koz % M lbs g/t koz g/t koz g/t koz Marathon Deposit Measured 164.0 0.56 2,973 0.20 712 0.18 970 0.07 358 1.7 9,089 Indicated 38.1 0.39 476 0.18 153 0.13 159 0.06 71 1.6 1,896 Meas. + Ind.
Slide 28: Mineral Resources and Reserves Notes
MINERAL RESOURCES AND RESERVES NOTES TSX:GENM OTCQB: GENMF Mineral Reserves Notes: a. The Mineral Reserves Estimate were prepared by Marc Schulte, P.Eng., who is also an independent Qualified Person, reported using the 2014 CIM Definition Standards, and have an effective date of November 1, 2024. b.
Slide 29: Metal Sensitivities
METAL SENSITIVITIES TSX:GENM OTCQB: GENMF After-Tax NPV6% Palladium Price Sensitivity (US$/oz) Palladium Price Sensitivity (US$/oz) After-Tax IRR Results 800 1,000 1,250 1,500 1,525 1,750 2,000 2,200 Results 800 1,000 1,250 1,500 1,525 1,750 2,000 2,200 2.50 (291) (9) 308 612 643 916 1,214 1,466 2.5
Slide 30: Marathon Critical Minerals Mine Plan
MARATHON CRITICAL MINERALS MINE PLAN TSX:GENM OTCQB: GENMF Units 2025 TR LOM Throughput Peak Process Plant Throughput TPD 27,700 Mt/year 10.1 Peak Mining Rate Tpd 164,000 Mt/year 60 Mine Production (LOM) Total Mined Mt 489.7 Total Waste Mined Mt 361.4 Total Ore Mined Mt 128.3 Strip Ratio Waste:Ore 2
Slide 31: Capex and Opex
CAPEX AND OPEX TSX:GENM OTCQB: GENMF 2025 FS Operating Capital Area Description Units ($M) Cost Mobile Equipment for Construction(a) 74 Mining(a) $/t processed 12.93 Processing Plant 280 Processing $/t processed 8.57 Infrastructure 88 General & Administration $/t processed 2.62 TSF, Water Management