Hot Chili Limited · ASX:HCH
Hot Chili — RIU Fremantle Explorers Conference 2025
32 slides from Hot Chili's conference presentation, Feb 18, 2025
Slide 1: La Verde Cu-Au Porphyry Discovery
La Verde Cu-Au ASX: HCH TSXV: HCH Porphyry Discovery OTCQX: HHLKF - Large Scale Appeal 18 to 20th February 2025 COMPANY PRESENTATION | 1 www.hotchili.net.au @hotchililimited @hotchiliIR Esplanade Hotel, Fremantle
Slide 2: Disclaimer & Forward-Looking Statements
Disclaimer & Forward-Looking Statements Disclaimer This Presentation (the "Presentation") is to be used by the recipient for informational purposes only and does not purport to be complete or contain all of the information that may be material to the current or future business, operations, financial
Slide 3: Copper & Gold
US$4.71/lb US$2,894/oz Copper & Gold Strategic Assets Powering Global Growth, Innovation, and Sustainability Indicated Resource contains Indicated Resource contains 6.4 Blb Cu, Inferred Resource 2.6 Moz Au, Inferred Resource contains 1.1 Blb Cu contains 0.4 Moz Au The critical commodity for Gold is
Slide 4: Costa Fuego Copper-Gold Project, Chile
Costa Fuego Copper-Gold Project, Chile One of the Largest Scale, Lowest Elevation Copper Resources in the World (not controlled by a major miner) Top 10 Undeveloped Copper Low Risk – Elevation, Costa Fuego – Large Scale Resource (S&P 2022) Infrastructure & Permitting Appeal and Growth Potential • In
Slide 5: Corporate Overview
Investors By Type Corporate Exchange Capital Structure ASX/TSXV: HCH Glencore 7.5% GS Group 5.7% Overview Shares Outstanding OTCQX: HHLKF 151.4 M Blue Spec 5.5% Insider Retail, s 0.7% 49.3% Options & Performance Rights 9.1 M Institutional A$19.0 M 31.4% Cash (as of 31 December 2024) Market Capitalis
Slide 6: Low Elevation Advantage – Lowers Economic Hurdle
Low Elevation Advantage – Lowers Economic Hurdle Long-term Commitment to Risk-Reduction of Future Development 1 Water Risk Removed ✓ Granted maritime concession with land access ✓ All water required for operations secured 2 Power Line Risk Removed ✓ Secured electrical connection to grid ✓ Renewables
Slide 7: Costa Fuego Indicated Resource of 798 Mt and Growing
Costa Fuego Indicated Resource of 798 Mt and Growing Over 85% of Costa Fuego’s Contained CuEq Metal Classified as Indicated Oblique Long-Section View of Cortadera – Looking North-East Consistent and sustained track record of Resource Growth: • Total Indicated Resource (798 Mt grading 0.45% CuEq)1,2
Slide 8: World's Largest Undeveloped Copper Mineral Resources
World's Largest Undeveloped Copper Mineral Resources Peer Benchmark – projects not controlled by a major mining company 3.6 Mt CuEq* The Global Resource Peer Group of Mineral Resources were selected on the following basis: Top 20 largest global primary copper Mineral Resources (not controlled by a m
Slide 9: Elevation & Water Permits for Copper Development Projects
Elevation & Water Permits for Copper Development Projects Peer Benchmark – elevation above sea level and water permits (maritime or terrestrial) Water Permit Approved No Water Permit , , le a on (masl ) Increasing Elevation Average Elevation 740m asl Maritime Concession Granted , Andean Winter Snowl
Slide 10: La Verde – Confirmation of a Significant Cu-Au Porphyry Discovery
La Verde – Confirmation of a Significant Cu-Au Porphyry Discovery Unified Under Single Ownership For First Time, After Years of Strategic Consolidation La Verde Open Pit (Shallow copper oxide pit) Discovery Drillhole DKP002 (Completed Nov 2024, Announced 18 Dec 2024) 308 m @ 0.5% Cu, 0.3g/t Au from
Slide 11: Large Scale Appeal - Expanding Fast
Large Scale Appeal - Expanding Fast 5,700 metres of Reverse Circulation Drilling Across Nineteen Drill Holes1 • Wide, Shallow, Near Surface Mineralisation • Current footprint extent 550 m by 400 m • Open in all directions • Larger Footprint of Mapped +1% Veined Porphyry to be tested • Surface mappin
Slide 12: Open Laterally, Southern Extension Confirmed
Open Laterally, Southern Extension Confirmed Drilling is Currently Testing Significant Along-Trend Extensions1 • Lateral extents being tested in first-pass drilling • Current drilling activity focused on southern porphyry extension, could rapidly increase footprint size • Gravel cover masking larger
Slide 13: Untapped Potential at Depth
Untapped Potential at Depth Drillholes Finishing Strong, Further Opportunity at Depth1 • Mineralised to depth of Reverse Circulation (RC) drilling capability • 8 of 12 RC holes with strong assay results to end-of-hole • Boosted by significant gold • Higher gold to copper ratio than current Costa Fue
Slide 14: Big Footprint, 70% Covered by Shallow Gravels
Big Footprint, 70% Covered by Shallow Gravels Defined by Geophysical Surveys – Airborne Magnetics and Induced Polarisation • Visibility under gravel cover • Look-alike targets present over wider magnetic footprint • Implementation of Artificial Intelligence (A.I.) • Preparing to deploy AI- powered e
Slide 15: Comparable Scale to Large Cu-Au Porphyry Deposits
Comparable Scale to Large Cu-Au Porphyry Deposits Better First-pass Drill Results than Reported for Cortadera in 2019 La Verde Cortadera • Following in the footsteps of Cortadera • Nearby Cortadera Mineral Resource1 of 531 Mt at 0.44% CuEq (Indicated) and 149 Mt at 0.30% CuEq Open Open (Inferred) •
Slide 16: A Significant New Copper-Gold Discovery
A Significant New Copper-Gold Discovery HCH Leveraging 16 years of Exploration Expertise in the Region La Verde1 Cortadera2 • Insights from Cortadera Shaping Exploration Strategy • Highest grades were inaccessible with RC drilling at Cortadera • ‘4D modelling’ of lithology commenced • Geological und
Slide 17: Huasco Water
Huasco Water Huasco Water plans to construct a multi-user water network in Southern Atacama region of Chile2 • New Joint Venture water company established. Hot Chili (80% interest) & CMP1 (20% interest) • Long lead-time items secured, including a granted maritime water concession to extract seawater
Slide 18: Huasco Water – Conceptual Basis of Study
Huasco Water – Conceptual Basis of Study1 Proposed Three-Stage Approach Aligned with Costa Fuego Development Plan Basis of Study - Stage 11: Establishment of sea water intake, Stage 2 Network1 principal pipeline route and infrastructure connection to supply up to 600 L/s seawater to Costa Fuego. Pot
Slide 19: Environment, Social & Governance Focused
Environment, Social & Governance Focused Over a Decade of Responsible and Respectful Investment 2 Environment 3 Social Energy • Connection to Chilean • Community engagement national grid at Maitencillo program underway, substation including MOU agreements with Indigenous stakeholders • Renewable ene
Slide 20: Investment Highlights
Investment Highlights Costa Fuego is a Large Scale, Low-Cost, Low Elevation Primary Copper Development Project Located in Chile High-quality, Long-life, Low-cost Near-term Copper Development Project 1 • After-tax NPV8% of US$1.10 bn and IRR of 21% based on an initial mine life of 16 years1 • Competi
Slide 21: Appendices
Appendices COMPANY PRESENTATION | www.hotchili.net.au 21
Slide 22: Board Members
Board Members Dr Nicole Adshead-Bell Christian Easterday Stephen Quin Independent Chairman Managing Director & Chief Independent Non-Executive Executive Officer Director Roberto de Andraca Mark Jamieson Adriasola1 Non-Executive Director Non-Executive Director (Glencore Nominee) COMPANY PRESENTATION
Slide 23: Management
Management José Ignacio Silva1 Grant King Carol Marinkovich Andrea Aravena1 Kirsty Sheerin Executive Vice President – Chief Operating Officer Company Secretary Geology Manager – Chile Resource Development Chile Manager Ryan Finkelstein Marcelo Hernando1 Cristobal Julia1 Chief Financial Officer Engin
Slide 24: Key Consultants
Key Consultants Dr Steve Garwin Dr John Beeson Elizabeth Haren Chief Technical Advisor Lead Structural Geologist Independent Resource Consultant COMPANY PRESENTATION | www.hotchili.net.au 24
Slide 25: Water Fundamentals for Copper in Chile
Water Fundamentals for Copper in Chile Seawater and elevation advantage – low cost and security of supply Operational expenditures by altitude, 2028 Water stress in Share of copper Fresh water supply and demand Sources of water used in Chilean mining and forecast, $ per metric ton of payable metal C
Slide 26: ESG - Our People
ESG - Our People Hot Chili values and embraces diversity As an Australian company, operating in Chile and with North American stakeholders, our Board and Employees represent the places where we work. International Team Gender Diversity • 67% of Company Employees are Chilean • Women represent 28% of
Slide 27: Notes to Mineral Resource Disclosure – Costa Fuego
Notes to Mineral Resource Disclosure – Costa Fuego Costa Fuego Project Mineral Resource Estimate, 26 February 2024 1 Mineral Resources are reported on a 100% Basis - combining Mineral Resource estimates for the Cortadera, Productora, Alice and San Antonio deposits. All figures are rounded, reported
Slide 28: Global Resource Peer Group
Company Average Project Au Ag Mo CuEq Reported Report Report Class Mt Cu% Cu Mt Au g/t Ag g/t Mo Mt Mo kt CuEq% Processing Moz Moz ppm Mt Level of Study Date Source Recovery Northern Dynasty Cu=84%, Preliminary Cascabel Pebble MI 6,456 0.40 25.8 0.34 71 1.7 345 240 1.55 1,551 0.72 46.4 Au=73%, Econo
Slide 29: Global Resource Peer Group
Resources Resource Filo Mining Company Average Reported Haib AntaKori Caravel La Verde Warintza Filo del Sol Project Au Ag Mo Mo Mo CuEq Report Report Class Mt Cu% Cu MtAu g/t Ag g/t CuEq% Processing Level of Moz Moz ppm Mt kt Mt Date Source Recovery Study Ind Oxide 362 0.34 1.2 0.33 3.8 13.3 155 0.
Slide 30: Qualifying Statements
Qualifying Statements Financial Risk Management The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information are described under the heading headings “Forward Looking Statements “ and “
Slide 31: COMPANY PRESENTATION
COMPANY PRESENTATION | www.hotchili.net.au 31
Slide 32: Narrated
Narrated Hot Chili Limited ACN 130 955 725 Mr Christian Easterday Overview of First Floor, 768 Canning Managing Director Costa Fuego Highway, Applecross, Western E: admin@hotchili.net.au Australia 6153 PO Box 1725, Applecross, Western Australia 6953 Graham Farrell Investor & Public Relations (Canada