Slide 1: A$80m Institutional Placement – Investor Presentation
S OUTH AME R IC A MEJILLONES MARIMACA ANTOFAGASTA SANTIAGO For personal use only MARIMACA COPPER C H IL E A$80m Institutional Placement – Investor Presentation Exceptional Development Project, Outstanding Exploration Potential September 2025 TSX: MARI ASX: MC2 Not for release to US wire services or
Slide 2: Disclaimer
Disclaimer The following notices and disclaimers apply to this presentation and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation is not for release to US wire services or
Slide 3: Disclaimer – Forward Looking Statements
Disclaimer Forward Looking Statements and Cautionary Statements - Australia (cont.) Forward-looking statements and information are not guarantees of future performance and involve known and unknown risks, uncertainties, sensitivities, contingencies, assumptions and other important factors, many of w
Slide 4: Disclaimer – JORC Code
Disclaimer JORC Code (cont.) This presentation contains estimates of the Mineral Resources and Ore Reserves estimated for the Project. This information in this presentation that relates to those Mineral Resources and Ore Reserves has been extracted from Marimaca's ASX and SEDAR announcement entitled
Slide 5: Disclaimer – JORC Code differs from other countries
Disclaimer JORC Code differs from reporting requirements in other countries It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the JORC Code. Investors outside Australia should note that while ore reserve and mineral resourc
Slide 6: Disclaimer – No liability
Disclaimer No liability (cont.) To the maximum extent permitted by law, Marimaca and its affiliates, directors, officers, employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for an
Slide 7: Disclaimer – Disclosure
Disclaimer Disclosure Each of the Joint Lead Managers and their respective affiliates and related bodies corporate (JLM Group) are full service financial institutions engaged in various activities, which may include (but are not limited to) underwriting, securities trading, financing, corporate advi
Slide 8: Table of Contents
Table of Contents 01 MARIMACA KEY HIGHLIGHTS For personal use only 02 EQUITY RAISING OVERVIEW 03 MARIMACA DFS & PROJECT OVERVIEW APPENDIX A SUPPLEMENTARY MOD DFS INFORMATION B SUPPLEMENTARY COMPANY INFORMATION C KEY RISKS D INTERNATIONAL OFFER RESTRICTIONS 8
Slide 9: Marimaca Key Highlights
For personal use only 1 MARIMACA KEY HIGHLIGHTS 9
Slide 10: Marimaca: Overview
Marimaca: Overview Infrastructure access lowers execution risk Close to all aspects required to build a mine For personal use only Proximity to first class utilities and infrastructure Water, Power, Transport, Communications Within 25km of Port of Mejillones Access to all major consumables for a SX-
Slide 11: Introduction: Marimaca Copper Project
Introduction: Marimaca Copper Project MEJILLONES MARIMACA For personal use only ANTOFAGASTA D FS c o m p l e te SANTIAGO Continuous growth of Low strip ratio open pit oxide copper resources operation with CHILE conventional heap leach Rapidly advancing Low execution risk CHUQUICAMATA MANTOS DE LA LU
Slide 12: Marimaca Oxide Deposit: 2025 DFS Results
Marimaca Oxide Deposit: 2025 DFS Results Low Strip Ratio, High Margin Project with Industry Leading Capital Intensity For personal use only US$1.1bn US$2.09/lb US$587m Post-Tax NPV8(1) 2nd Quartile AISC(2) Pre-Production Capex 39% IRR with 2.2-year payback period C1 cash cost of US$1.69/lb Initial c
Slide 13: Pampa Medina – a potential Game Changer
Pampa Medina – a potential Game Changer. 300m step-out holes confirm sulphide mineralization remains open Cross Section N7440800 Looking North Faults For personal use only Alluvium Pampa Oxide Upper Sediments Cu% Shells SMRD-16 70m @ 1.03% Cu from 434m Incl. 10m @ 4.2% Cu from 438m 116m @ 0.61% Cu f
Slide 14: Marimaca: Green Copper
Marimaca: Green Copper Mining Project of the Future WATER – recycled seawater supply secured from the Bay of Mejillones For personal use only POWER – certified renewable electricity supply available COMMUNITIES – no community land overlap, skilled local workforce IMPACT – limited flora & fauna
Slide 15: Equity Raising Overview
For personal use only 2 EQUITY RAISING OVERVIEW 15
Slide 16: Equity raising overview
Equity raising overview Proceeds used to accelerate exploration at Pampa Medina and Marimaca Sulphides • Marimaca Copper Corp. (“Marimaca”) is conducting a non-underwritten institutional placement of fully paid For personal use only CHESS Depository Interests (“CDIs”) to raise A$80 million (~US$52 m
Slide 17: Sources & uses and pro-forma capital structure
Sources & uses and pro-forma capital structure Proceeds used to accelerate exploration at Pampa Medina and Marimaca sulphides discovery, and provide flexibility as MOD progresses towards FID For personal use only Sources1,4 Pro-forma capital structure1,2,3,4 A$m US$m C$m Current Pro-Forma Institutio
Slide 18: Indicative equity raising timetable
Indicative equity raising timetable For personal use only Event Date Placement Trading halt Friday, 5 September 2025 Launch of Offer and Investor Presentation Friday, 5 September 2025 Announcement of completion of Placement Friday, 5 September 2025 (Canada) Monday, 8 September 2025 (Australia) Tradi
Slide 19: Marimaca DFS & Project Overview
For personal use only 3 MARIMACA DFS & PROJECT OVERVIEW 19
Slide 20: Marimaca Projects: 2025 / 2026 Work Programs
Marimaca Projects: 2025 / 2026 Work Programs Exploration and Development in Parallel 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 For personalMODuse only ✓ DFS complete, delivering long life open pit with MOD DFS robust economics and significant upside potential Permitting Approval Process ✓ First milestone un
Slide 21: Marimaca Oxides: Extensive Met Work Completed
Marimaca Oxides: Extensive Met Work Completed Marimaca has completed rigorous met testing on materials across the deposit Tests completed on materials from across the full extent of the deposit and addressed all defined → For personal use only mineral subzones Seven extensive phases of met testing c
Slide 22: MOD Processing: Simple SX-EW Processing
MOD Processing: Simple SX-EW Processing Low complexity processing supports robust project economics DFS Processing Flowsheet 3-stage crushing to achieve P80 passing → 12.5mm (1/2”) For personal use only ▪ Crushed ore agglomerated and acid cured with variable dose based on mineral sub-domain ▪ Ore st
Slide 23: Water Supply: De-risked and sustainable
Water Supply: De-risked and sustainable Recycled seawater from Mejillones will supply the Marimaca Copper Project • Water option secured from the Bay of Mejilllones – recycled seawater ― De-risks water supply for the For personal use only MARIMACA COPPER Marimaca Project – intake is already PROJECT
Slide 24: Marimaca: Mineral Resource Growth at the MOD
Marimaca: Mineral Resource Growth at the MOD Consistent Resource growth underpinned by strong M&I conversion to Reserves M&I (MOD) Inferred (MOD) Proven (MOD) Probable (MOD) +5% 88% Conversion of 900kt M&I +54% 670kt M&I M&I into P&P 141kt Inf 846kt M&I For personal use only 322kt Inf 59kt Inf +99%
Slide 25: Marimaca: Multi-Pronged Strategy
Marimaca: Multi-Pronged Strategy Developing, exploring and integrating a Tier-1 copper district in Chile Continued de-risking of the MOD ▪ Project permit submitted – target FID in H2 2026 Project ▪ Phase 7 metallurgical program complete For personal use only Advancement ▪ Water supply engagement com
Slide 26: Complementary Resources: District Scale Potential
Complementary Resources: District Scale Potential Strong ‘repetition’ style discovery potential Cindy Target1: Compelling complementary resource 30-40Mt at 0.3-0.4% CuT Roble Target1: potential adding leachable resources to 20-30Mt at 0.2-0.3% CuT For personal use only the scale of the MOD Geophysic
Slide 27: Complementary Resources: Sierra de Medina Region
Complementary Resources: Sierra de Medina Region Clear regional scale synergies – close to all major infrastructure For personal use only CHILE’S NEW COPPER DISCOVERY 27 Advancing Development With District Scale Potential
Slide 28: Complementary Resources: Sierra de Medina Region
Complementary Resources: Sierra de Medina Region Compelling district scale potential through exploration Pampa Medina & Madrugador Acquisitions For personal use only →o Both located ~25km from the planned MOD processing plant as defined in the DFS →o High grade, shallow, open-pitable historical oxid
Slide 29: A Supplementary MOD DFS information
For personal use only A Supplementary MOD DFS information CHILE’S NEW COPPER DISCOVERY 20 Advancing Development With District Scale Potential
Slide 30: Marimaca Oxide Deposit: 2025 DFS Consultants
Marimaca Oxide Deposit: 2025 DFS Consultants Specialist consultants with significant experience in the region 2025 DFS prepared by Marimaca team → in conjunction with Ausenco and NCL Processing Metallurgical ▪ Led by Ausenco and NCL – two For personal use only prominent engineering Carlos Garcia con
Slide 31: Marimaca Oxide Deposit: 2025 DFS Results
Marimaca Oxide Deposit: 2025 DFS Results Simple mining & processing support robust margins First 5 Years of Metric Unit Steady State(1) LOM Simple open pit mining with LOM strip ratio of 0.8:1 Mining Summary → (including pre-stripped material) Total Ore Mined kt 80,683 178,635 ▪ P&P Mineral Reserve
Slide 32: MOD DFS: Capital Cost in Detail
MOD DFS: Capital Cost in Detail Strong technical fundamentals supporting globally competitive capital intensity Metric Unit Total % of Total Capital costs are within AACE Class 3 guidelines; expected Initial Capital Cost US$m $587 - → accuracy of -20% to +25% Mine US$m $24 4% ▪ Budget quotes obtaine
Slide 33: MOD DFS: Global Cu Project Benchmarking
MOD DFS: Global Cu Project Benchmarking Low initial capex and robust NPV reinforces MOD’s position among global peers Profability Index (Pre-Tax NPV8% / Initial Capex) for Global Copper Projects Near Term Production (Pre 2028) Long Term Production (Post 2028) Marimaca 5.0 MOD positioned as one of th
Slide 34: MOD DFS: Significant EBITDA and Free Cash Flow
MOD DFS: Significant EBITDA and Free Cash Flow Significant cash flow generation underpins compelling 2.5-year payback EBITDA and Margin ($m) EBITDA EBITDA Margin 68% 68% 69% 67% 63% 63% For personal use only 58% 57% 53% 53% 33% $332 $330 $335 $328 27% $307 $282 25% $277 $225 $236 $229 $85 $51 $39 Ye
Slide 35: MOD DFS: Mining & Processing Profile
MOD DFS: Mining & Processing Profile Mine expansion in year 5 to accommodate increase in crushing capacity Waste Mined (Mt) Ore Mined (Mt) Strip Ratio 1.23 1.15 1.23 1.04 0.96 0.72 0.83 0.70 0.55 0.53 For personal use only 0.46 35 35 35 35 35 0.24 33 28 25 25 25 9 6 Year -1 Year 1 Year 2 Year 3 Year
Slide 36: MOD DFS: Unique Access to Critical Infrastructure
MOD DFS: Unique Access to Critical Infrastructure Location & access to infrastructure / utilities deliver lower execution risk Mejillones – 25km For personal use only Power Spur and Line Seawater Pipeline Ripios Norte Open Pit Route 1 – National Highway Heap Leach & Antofagasta – 40km SX-EW Waste Du
Slide 37: MOD DFS: Simple Open Pit Mining
MOD DFS: Simple Open Pit Mining Conventional truck and shovel operation through 8 phases of pit development DFS considers 8 phases of pit development to provide → consistent ore feed to the heap leach Plan view of pit phases & final pit shell ▪ Mine sequence developed to achieve a consistent, steady
Slide 38: MOD DFS: Resource Update
MOD DFS: Resource Update 93% of total resource tonnes now in Measured and Indicated categories 3D View of Marimaca Oxide Blanket Continued conversion of Inferred tonnage and → contained metal over the 2023 MRE ▪ Updated recoveries from Phase 7 metallurgical For personal use only testing now underpin
Slide 39: Complementary Resources: Sierra de Medina Region
Complementary Resources: Sierra de Medina Region Compelling district scale potential through exploration Sierra de Medina Claim Block Geological Setting For personal use only Cachorro: 3,000kt Contained Cu 300 Mt at 1.0% Cu Pampa Medina & Madrugador Marimaca Oxide Deposit Pampa Medina & Madrugador:
Slide 40: Pampa Medina – a potential Game Changer
Pampa Medina – a potential Game Changer. Clear oxide synergies with the MOD, but sulphide potential is compelling For personal use only CHILE’S NEW COPPER DISCOVERY 40 Advancing Development With District Scale Potential
Slide 41: Pampa Medina – a potential Game Changer
Pampa Medina – a potential Game Changer. Drilling to date has delineated material extensions at depth and along strike Long Section E406900 Looking West For personal use only CHILE’S NEW COPPER DISCOVERY 41 Advancing Development With District Scale Potential
Slide 42: Marimaca: Summary
Marimaca: Summary Advancing Development & Outstanding Potential → A unique development stage copper asset with a clear development pathway to near-term production Tier 1 Location ▪ MOD DFS delivers strong US$[1bn] NPV8% with industry leading capital intensity(1) For personal use only ▪ Confirmation
Slide 43: B Supplementary Company information
For personal use only B Supplementary Company information CHILE’S NEW COPPER DISCOVERY 20 Advancing Development With District Scale Potential
Slide 44: Experienced Board
Experienced Board Experienced and Leading explorational, invested Board and Deep experience in regional and financial management team copper and Chile experience For personal use only Michael Haworth Hayden Locke Clive Newall Tim Petterson Non-Executive Chairman CEO, President & Director Non-Executi
Slide 45: Experienced Management
Experienced Management Experienced and Leading explorational, invested Board and Deep experience in regional and financial management team copper and Chile experience For personal use only Hayden Locke Sergio Rivera Jose Antonio Merino Nico Cookson CEO, President & Director Vice President of Explora
Slide 46: Corporate Structure
Corporate Structure $12.00 600,000 $10.00 500,000 $8.00 400,000 Share Price (C$/sh) For personal use only Volume $6.00 300,000 $4.00 200,000 $2.00 100,000 - - Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Capital Structure Board Analyst Coverage Stock Exc
Slide 47: 2025 Mineral Resource Estimate
2025 Mineral Resource Estimate Cut-off Measured Indicated Measured + Indicated Inferred grade (% CuT) Quantity Quantity Quantity Quantity CuT [%] CuS [%] CuT [%] CuS [%] CuT [%] CuS [%] CuT [%] CuS [%] For personal use only kt kt kt kt 0.40 44.6 0.73 0.44 31.1 0.65 0.36 75.7 0.70 0.41 4.6 0.56 0.26
Slide 48: 2025 Ore Reserve
2025 Ore Reserve Contained Tonnage Copper Grades Reserve Category Ore Type Copper (kt) (%CuT) (%CuS) (%CuCN) (kt) For personal use only BROC 39,456 0.58 0.41 0.08 227.5 CRIS 17,607 0.42 0.30 0.04 73.8 Proved Mineral WAD 17,242 0.26 0.14 0.05 44.8 Mineral Reserves are reported as constrained within M
Slide 49: Marimaca Copper – Commitment to Sustainability
Marimaca Copper – Commitment to Sustainability Health, Safety and Security Constructive Stakeholder The health, safety and wellbeing of our Engagement employees is at the forefront of For personal use only We value the trust and support from our everything we do. We implement the local stakeholders.
Slide 50: C Key risks
For personal use only C Key risks CHILE’S NEW COPPER DISCOVERY 20 Advancing Development With District Scale Potential
Slide 51: Key Risks
KEY RISKS This section discusses some of the risks associated with an investment in the Company. The Company's business is subject to a number of risk factors both specific to its business and of a general nature which may impact on its future performance. Before subscribing for New CDIs, prospectiv
Slide 52: Key Risks – Financing risks
KEY RISKS Financing risks: The Company notes that it does not have sufficient funding to finance development of the Marimaca Copper Project for funds required as outlined in the DFS and subject to a final investment decision being made by the Company's Board. Additional funding may be required soone
Slide 53: Key Risks – Debtor Risk
KEY RISKS Debtor Risk (cont.): On 27 December 2023, the Company entered into a memorandum of understanding with the buyers, pursuant to which the Company agreed to accept a revised total payment of US$7.0 million provided the buyers made payment of such revised amount in full on or before 1 July 202
Slide 54: Key Risks – Repatriation of earnings
KEY RISKS Any changes to the legislation regarding the repatriation of earnings received from the countries where the Company currently operates could adversely affect the Company’s financial condition: The Company conducts the majority of its operations through, to varying degrees, subsidiaries inco
Slide 55: Key Risks – Environmental Risks
KEY RISKS Environmental Risks: The Company’s activities are subject to laws and regulations governing environmental protection and employee health and safety. These laws and regulations address many aspects of the exploration and development of mineral properties, including air and water quality, ma
Slide 56: Key Risks – Community Relations and Social License
KEY RISKS Community Relations and Social License to Operate: The Company’s relationship with the communities living in the regions where it operates are critical to ensure the future success of its existing operations and the construction and development of its projects. There is an increasing level
Slide 57: Key Risks – Corruption and Bribery Laws
KEY RISKS Corruption and Bribery Laws: The Company’s operations are governed by, and involve interactions with, many levels of government in Chile, Canada and Australia. In recent years, there has been a general increase in both the frequency of enforcement and the severity of penalties under such l
Slide 58: D International Offer Restrictions
For personal use only D International Offer Restrictions CHILE’S NEW COPPER DISCOVERY 20 Advancing Development With District Scale Potential
Slide 59: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS This presentation does not constitute an offer of New CDIs of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New CDIs may not be offered or sold, in any country outside Austral
Slide 60: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS Norway: This presentation has not been approved by, or registered with, any Norwegian securities regulator under the Norwegian Securities Trading Act of 29 June 2007 no. 75. Accordingly, this document shall not be deemed to constitute an offer to the public in Norway
Slide 61: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS United Kingdom (cont.): In the United Kingdom, this presentation is being distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial
Slide 62: For personal use only
For personal use only CHILE’S NEW COPPER DISCOVERY Advancing Development With District Scale Potential CHILE’S NEW COPPER DISCOVERY Advancing Development With District Scale Potential