Slide 1: March Quarter 2026
March Quarter 2026 Unlocking value to empower the future 29 April 2026
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: Why Invest In 29Metals
Why Invest In 29Metals Copper – a critical future facing metal to enable the global transition towards electrification Large copper endowments 2.3Mt Contained Copper + 2.2Mt Zinc, 1.2Moz Gold, 73Moz Silver in Group Mineral Resources estimates2 Long life assets Resources to support 10+ year mine live
Slide 4: 29Metals - Copper exposure for ASX investors
29Metals - Copper exposure for ASX investors Uniquely positioned with two large copper metal endowments in a tier 1 jurisdiction – 2.3Mt contained copper in Mineral Resource estimates1 Production Snapshot 2025 Production (Golden Grove) 2026 Guidance (Golden Grove)2 ▪ 22kt Copper @ AISC US$3.55/lb Cu
Slide 5: Copper focused – multi commodity exposure
Copper focused – multi commodity exposure 10-year price history for base and precious metals produced by 29Metals Copper Price1 (US$/lb) Zinc Price1 (US$/lb) 7.0 59% Revenue2 2.5 20% Revenue2 6.0 2.0 5.0 1.5 4.0 3.0 1.0 2.0 0.5 1.0 0.0 0.0 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 Apr-22 Apr-23 Apr-
Slide 6: Key Points
Key Points Mar-Qtr-2026 Safety1 Golden Grove Copper Production Zinc Production C1 Costs2 6.4kt 0.1kt US$4.25/lb Cu ▪ Positive cash flow after capital expenditures of $10 million (Dec-Qtr: negative $23 million). 9.3 ▪ ▪ Following ongoing geotechnical review of seismic impacts at Xantho Extended, addi
Slide 7: Golden Grove
Golden Grove
Slide 8: High-grade copper mine with valuable zinc, gold & silver by-products
High-grade copper mine with valuable zinc, gold & silver by-products 30+ year track record of exploration success and mine life extensions – existing mining fronts remain open at depth Gossan Valley 63Mt in Mineral Resources estimates1 Development in progress - First ore by end 2026 Gossan Hill Scud
Slide 9: Golden Grove: Mar-Qtr-2026 Operations Overview
Golden Grove Mar-Qtr-2026: Operations Overview Ore mined contribution by source (%) Comments 100% 18% ▪ TRIF1 and LTIF1 of 9.8 (Dec-Qtr: 7.4) and 0.0 (Dec-Qtr: 0.0), respectively. 26% 26% 29% 38% ▪ Ore mined 290kt (Dec-Qtr: 397kt). 32% ▪ Ore milled 305kt (Dec-Qtr: 391kt). 41% 64% ▪ Ore milled was pr
Slide 10: Xantho Extended
Xantho Extended Additional works planned to provide greater production certainty from the end of 2026 and for the life of mine. Comments Additional planned works at Xantho Extended ▪ As previously reported, mining at Xantho Extended was suspended whilst ground support upgrades were implemented, whic
Slide 11: Alternate ore sources are available whilst additional works are completed
Alternate ore sources are available whilst additional works are completed Copper guidance maintained. Works are in progress to incorporate additional copper and gold ore sources into the rest of year mine plan to maximise mill throughput and production outcomes to partially offset lower by-product r
Slide 12: Golden Grove: Mar-Qtr-2026 Costs and Capital Overview
Golden Grove Mar-Qtr-2026: Costs and Capital Overview Site Costs ($ million) Comments ▪ C1 Costs1 of US$4.25/lb copper sold (Dec-Qtr: US$2.46/lb copper sold). ▪ AISC2 of US$5.08/lb copper sold (Dec-Qtr: US$3.52/lb copper sold). 103 96 97 97 91 ▪ Higher C1 unit costs were primarily driven by a stockp
Slide 13: Gossan Valley remains on track for first ore by end of 2026
Gossan Valley remains on track for first ore by end of 2026 Gossan Valley to provide production flexibility from an independent and relatively shallow high-grade mining front Gossan Valley box cut aerial view, 31-Mar-2026 Gossan Valley box cut and decline development - iso looking north-east 31-Dec-
Slide 14: Gossan Valley Mineral Resource Estimates remain open at depth
Gossan Valley Mineral Resource Estimates1 remain open at depth Potential to build on the long history of mine life extensions at Golden Grove Gossan Valley Gossan Hill Scuddles Legend: : >0.4% Cu wireframe1 : >2.0% Zn wireframe1 : Organic growth target areas 400m 400m 1992 400m 2025 N 1994 N N 31 33
Slide 15: High-grade copper intercepts during 2025 highlight Golden Grove growth potential
High-grade copper intercepts during 2025 highlight Golden Grove growth potential 2025 drilling demonstrated potential mine-life extensions at Gossan Hill and has highlighted Cervantes as an attractive future growth option Golden Grove Long Section1 Highlights: Gossan Hill Scuddles Tryall Resource Ex
Slide 16: A bright future at Golden Grove
A bright future at Golden Grove Progressive ramp-up of mining from fresh ore sources to support metal production growth Investment phase to enable mining of high-grade ore sources is nearing completion ✓ ▪ Reduction in capital expenditures expected post 2026. ▪ Harvest of the operational and financi
Slide 17: Capricorn Copper
Capricorn Copper
Slide 18: Potential value to be unlocked at Capricorn Copper
Potential value to be unlocked at Capricorn Copper Low capital intensity brownfields restart project with significant Mineral Resources1, established infrastructure and large land position in prolific Mt. Isa Inlier province Substantial high-grade contained copper metal endowment Mineral Resources:
Slide 19: A profitable operation prior to impact of 2023 extreme weather event
A profitable operation prior to impact of 2023 extreme weather event1 24kt of copper production at AISC of US$3.71/lb copper sold, for $66 million of EBITDA in last full year of operation EBITDA ($ million)2 AISC (US$/lb)2 Capricorn Copper Capricorn Copper $110 million $66 million 80 Copper Price (A
Slide 20: Water levels no longer an impediment to a restart of production
Water levels no longer an impediment to a restart of production Approval for a long-term Tailings Storage Facility (‘TSF’) 3 is now the critical path imperative for a restart of production. ▪ Progress Water inventory reductions: ✓ Water inventory reductions ▪ Site water levels no longer an impedimen
Slide 21: Tailings Storage Facility approval is the critical path item for a restart decision
Tailings Storage Facility (‘TSF’) approval is the critical path item for a restart decision Request for Information (‘RFI’) from the Regulator in relation to TSF 3 application was received Dec-Qtr-2025, in line with normal process, with a response planned for submission in Sep-Qtr-2026. 2024 2025 20
Slide 22: A bright future at Capricorn Copper
A bright future at Capricorn Copper Substantial high-grade copper Mineral Resources1 with pathway to production Tier 1 location Capricorn Copper Long Section1 ~2 km ✓ Large land position in prolific Mt. Isa Inlier in Queensland, Australia Large copper metal endowment Esperanza South Esperanza South
Slide 23: Corporate
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Slide 24: Finance and Corporate
Finance and Corporate Balance sheet and cash flows Unaudited group cash and cash equivalents, and available liquidity ($ million)1 Comments1 15 238 ▪ Unaudited Group liquidity at 31 March 2026 was $238 million (31 December 2025: $118 223 $10 million positive million). free cash flow ▪ Unaudited cash
Slide 25: Why Invest In 29Metals
Why Invest In 29Metals Copper – a critical future facing metal to enable the global transition towards electrification Large copper endowments 2.3Mt Contained Copper + 2.2Mt Zinc, 1.2Moz Gold, 73Moz Silver in Group Mineral Resources estimates2 Long life assets Resources to support 10+ year mine live
Slide 26: Unlocking value to empower the future
Unlocking value to empower the future 26
Slide 27: Appendix
Appendix
Slide 28: Capricorn Copper: Site water inventory summary
Capricorn Copper1 Appendix: Site water inventory summary Workshop Area Mill Creek Dam Site water Inventory 31 March 2026: (MCD) Gunpowder 2.0 Gigalitres of Reductions Creek Ponds Gigalitres 3&4 3.90 Maximum Operating Level2 Approx surface water inventory at the start of 2022/2023 wet season3 0.45 1.
Slide 29: Appendix: Group Mineral Resources and Ore Reserve Estimates
Appendix: Group Mineral Resources and Ore Reserve Estimates Mineral Resources estimates at the Group level are the aggregation of 31 December 2025 Mineral Resources Ore Reserves estimates at the Group level are the aggregation of the 31 December 2025 Ore Reserves estimates for estimates for Golden G
Slide 30: Appendix: Golden Grove Mineral Resources and Ore Reserve Estimates
Appendix: Golden Grove Mineral Resources and Ore Reserve Estimates The 31 December 2025 Mineral Resources estimates for Golden Grove are set out in the table below and incorporate the results of resource conversion, resource extension and grade control drilling completed since the cut-off-date for t
Slide 31: Appendix: Capricorn Copper Mineral Resources and Ore Reserve Estimates
Appendix: Capricorn Copper Mineral Resources and Ore Reserve Estimates 29Metals suspended production at Capricorn Copper on 26 March 2024 and production continues to be suspended. See 29Metals announcement, “Capricorn Copper – Suspension of Operations” dated 26 March 2024. The Mineral Resources esti
Slide 32: Appendix: Redhill Mineral Resources Estimates
Appendix: Redhill Mineral Resources Estimates The Mineral Resources estimates for Redhill are set out in the table below. These Mineral Resources estimates were first reported and effective on 16 May 2016. There have been no material changes to the Mineral Resources estimated for Redhill since 16 Ma
Slide 33: Unlocking value to empower the future
Unlocking value to empower the future 33