Dpm Metals Inc. · TSX:DPM
Dpm Metals — Investor Day (June 2026)
39 slides from Dpm Metals's investor day presentation, Jun 17, 2026
Slide 1: Uniquely Positioned to Deliver Superior Value
Uniquely Positioned to Deliver Superior Value 2026 Analyst and Investor Tour: Growth Projects & Exploration June 17-19, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains Forward Looking Statements. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “budget”, “sche
Slide 3: Introductions
Introductions Name Title Dragana Davidovic Country Director, Serbia Stefan Metodiev General Manager, Exploration Adriana Tufis Project Director, Čoka Rakita Corporate David Rae President & CEO Iliya Garkov COO Joao Zanon SVP, Projects & Evaluations John DeCooman EVP, Corporate Development Jennifer C
Slide 4: Growing European-focused Precious Metals Producer
Growing European-focused Precious Metals Producer Peer-leading growth and margins for quality returns through the cycle Hungary Operator with 11-year track record 350,000 GEO at $1,450/oz GEO sold1,2,3 Croatia Romania Bosnia and Serbia Herzegovina Rakita Camp prospects High-margin production growth
Slide 5: Growing European-focused Precious Metals Producer: Organic growth funded from a strong balance sheet
Growing European-focused Precious Metals Producer Organic growth funded from a strong balance sheet Operating Assets Growth Pipeline Gold equivalent production (Koz.) 355 - 400 Growth prospects 305 - 365 320 - 365 Dumitru Potok 288 Čoka Rakita project +189,000 oz.4 Wedge Zone (first 5 years) prospec
Slide 6: Platform to Support Fully-Funded Growth Pipeline
Platform to Support Fully-Funded Growth Pipeline DPM has the people, the capabilities and the capital in place to drive growth Proven operators Financial Strength to Fund Growth • 11-year operating track record $ millions • Experienced operations leadership team • Robust training and development pro
Slide 7: Čoka Rakita project
Čoka Rakita project Developing a low-cost, high-margin mine 7
Slide 8: Geological Setting
Geological Setting District scale discovery with multiple styles of mineralization ▪ Part of the Western margin of Timok Magmatic Complex (TMC) known as High Sulfidation-Porphyry district ▪ Čoka Rakita is part of large zoned complex hydrothermal system that includes: ▪ Porphyry copper-gold ▪ Skarn c
Slide 9: Čoka Rakita Geology
Čoka Rakita Geology Concentrated high-grade orebody ▪ Gold-bearing exoskarns, developed as massive stratabound bodies in a Ca-rich sandstones, in the hanging wall of a sill-like porphyritic diorite ▪ Endoskarn zone of the diorite, up to several meters from the intrusive contact, rich in copper and g
Slide 10: 2026 Ongoing Activities
2026 Ongoing Activities Exploration progress up to June 1, 2026 ▪ A total of 16,918 metres of drilling was completed to date at Coka Rakita (CRA), Potaj Cuka (POC), Pester Jug (PEJ) and Miranovac (MIR) licenses. ▪ Extension, infill and scout drilling is ongoing at CRA license with 10 drill rigs and
Slide 11: Čoka Rakita Feasibility Study Results
Čoka Rakita Feasibility Study Results Confirms high-margin, low-cost operation that will generate significant returns for investors Production (life of mine averages, unless otherwise noted) Improvements relative to the PFS: Mineral Reserve Mt 7.3 ▪ Additional year of mine life Average gold grade mi
Slide 12: Mine Plan Optimized for Early Access to High Grades
Mine Plan Optimized for Early Access to High Grades N 910m RL S 660m RL Optimizations from the PFS include: Lower Decline 735m RL Surface Vent Upper Decline ▪ Improved development layout and overall design efficiency Raise ▪ Ground support design optimized based on geotechnical drilling results 650m
Slide 13: Conventional Flowsheet with Strong Gold Recoveries
Conventional Flowsheet with Strong Gold Recoveries Relatively standard comminution, gravity and flotation flowsheet to process 850ktpa ▪ Processing facility designed for 850ktpa throughput ▪ Conventional flowsheet: crushing & comminution → gravity recovery → flotation ▪ Strong metallurgical performa
Slide 14: Site Layout
Site Layout Optimized design and site layout 14
Slide 15: Manageable Capital Intensity for a High Return Project
Manageable Capital Intensity for a High Return Project Well-within DPM’s capacity to fund with existing cash and cash flow generation $ millions Changes relative to the PFS: Initial capital estimates1 ▪ Updated mine development contracting strategy Mine development $129 ▪ Accelerated decline develop
Slide 16: Targeting First Concentrate Production in 2029
Targeting First Concentrate Production in 2029 ▪ Revised permitting timeline anticipates start-up of mine construction in early 2027 ▪ DPM confident in project's overall progress ▪ Technical workstreams progressing as planned ▪ Proactive stakeholder engagement ▪ Initiated Special Purpose Spatial Pla
Slide 17: Stakeholder Engagement
Stakeholder Engagement DPM has maintained a local and regional presence for 20+ years Building and maintaining strong partnerships with local communities and governments ▪ Ongoing, consistent engagement with local communities ▪ Prioritizing open and transparent communication ▪ Well-established and r
Slide 18: Rakita camp
Rakita camp District-scale potential 18
Slide 19: Rakita Camp: District Scale Potential
Rakita Camp: District Scale Potential Testing the continuation of the system with step-out drilling Step-out drilling: 20,000 metres planned ▪ Valja Saka ▪ Follow-up results from Valja Saka intercepts reported in Q1 2025 ▪ Shallow sandstone and marble-hosted gold-silver-base metal skarn mineralizati
Slide 20: Infill and Delineation Drilling
Infill and Delineation Drilling 20,000 metres of drilling program at the Čoka Rakita licence commenced Q2 2026 ▪ Infill and extension of the contact and stratabound A B skarns based on existing resource shapes ▪ Delineation of the Frasen gold-copper porphyry target A B 20
Slide 21: Deposits Remain Open for Further Growth Potential
Deposits Remain Open for Further Growth Potential Each of Dumitru Potok, Rakita North and Frasen remain open in multiple directions ▪ Sub-vertical contact skarn mineralization Dumitru Potok remains open to the north, south and at depth ▪ Stratabound mineralization remains open in numerous locations
Slide 22: Dumitru Potok Mineralization
Dumitru Potok Mineralization ▪ A large, zoned calcic Cu–Au–Ag skarn system centered on a causative intrusion, with: ▪ Proximal Sulphide dominant Cu-Au skarn near the intrusion grading outward and upward into skarn with oxidized Cu mineral assemblages ▪ Continues as stratabound, manto-like skarn / Ca
Slide 23: Initial Metallurgical Testwork Results
Initial Metallurgical Testwork Results Indicates high recoveries are achievable, generating saleable copper and gold concentrate Positive testwork outcomes ▪ Initial testwork focused on testing key mineralization styles at the Dumitru Potok, Rakita North and Frasen prospects ▪ Medium bond mill index
Slide 24: Initial Inferred MRE Establishes District Scale Platform
Initial Inferred MRE Establishes District Scale Platform Underscores the significant potential of the Rakita camp ▪ Inferred MRE: 2.6 Moz. Au and 1.9 B lbs. Cu ▪ Significant higher-grade and higher-tonnage core of the mineral resource within Dumitru Potok: 2.4 Moz. Au and 1.7 B lbs. Cu ▪ MRE incorpo
Slide 25: Chelopech exploration
Chelopech exploration Defining new district-scale potential 25
Slide 26: Brevene South Porphyry Discovery
Brevene South Porphyry Discovery Major discovery of high-grade gold-copper porphyry system adjacent to Chelopech mine • Results demonstrating grade, scale and continuity • 713 m at 2.52 g/t AuEq, including 398 m at 3 g/t AuEq • Outlined alteration footprint of 1.5 km by 1 km • Further expanding know
Slide 27: Chelopech District Potential
Chelopech District Potential • Adjacent to the Chelopech mine, which we have successfully expanded and operated for over 20 years • Leverages DPM’s strong social licence in Bulgaria Further expanding known mineralization with intensive exploration program • 5 high capacity drill rigs with up to 15,0
Slide 28: Wedge Zone Discovery
Wedge Zone Discovery Located in Chelopech mine concession approximately 250 m from existing Mineral Reserves • Potential to augment Chelopech life of mine plan • Newly discovered high-grade zone • Higher than current reserve grade of 2.2 g/t Au • Results include: • 68.3 m at 7.42 g/t AuEq • 58 metre
Slide 29: Chelopech District Potential
Chelopech District Potential Potential to transform Chelopech district into one of the top copper-gold operations within Europe Strategy: Near-mine drill testing and licence conversion • Predictable, proven permitting processes from +20-years of DPM ownership • Multiple exploration targets across th
Slide 30: Vareš exploration
Vareš exploration Prospective land package 30
Slide 31: Prospective Vareš Land Package
Prospective Vareš Land Package 22-kilometre corridor in proximity to Vareš infrastructure and mill ▪ Large land package ▪ Well-understood permitting regime ▪ Progressing engagement with local communities ▪ Exploration activities planned for 2026 ▪ Additional geophysics (MT) ▪ 20,000 metres of brownf
Slide 32: DPM Metals: A Premier Mining Business
DPM Metals: A Premier Mining Business The people, the capabilities and the capital all in place to drive growth pipeline High-margin asset portfolio driving strong free cash flow generation Attractive high-quality growth projects Proven project development capabilities Strong balance sheet and susta
Slide 33: Appendix
DPM) Appendix
Slide 34: Čoka Rakita Feasibility Study Results
Čoka Rakita Feasibility Study Results Production (life of mine averages, unless otherwise noted) Unit Operating and all-in sustaining cost (life of mine averages) Mineral Reserve Mt 7.3 $ millions $/t of ore processed $/oz. payable gold Average gold grade mined g/t 6.44 Mining $267 $36 $203 Annual t
Slide 35: Production Schedule
Production Schedule First decile margins drive fast capital return LOM average gold grade Higher production in first 5 years Top decile all-in sustaining cost 6.44 g/t 189,000 gold ounces $644/oz. gold ounce sold (LOM avg.) Mined Tonnes & Gold Grades Payable Gold Production & 1000 All-in Sustaining
Slide 36: First Decile All-in Sustaining Cost
First Decile All-in Sustaining Cost Life of Mine Unit Operating and All-in Sustaining Cost $/t of ore $/oz. payable $ millions processed gold Mining $267 $36 $203 Processing $205 $28 $156 General & administrative $115 $16 $88 Royalties $121 $16 $92 Total cash costs $786 $96 $538 Offsite cost $78 $69
Slide 37: Feasibility Study Mineral Resource and Reserves
Feasibility Study Mineral Resource and Reserves Mineral Reserves tonnage increased by 10% and contained gold increased by 11% Mineral Resource Estimate (as of January 17, 2025) exclusive of Mineral Reserves Improved Mineral Resource and Mineral Reserve Estimates Gold Content Classification Tonnes (M
Slide 38: Endnotes
Endnotes 1) Cost of sales per ounce of gold sold represents cost of sales for Chelopech and Ada Tepe, divided by payable gold in concentrate sold. This measure is before by- product credits. All-in sustaining cost per ounce of gold, or GEO where applicable, is a non-GAAP ratio which represents cost
Slide 39: Corporate Head Office Investor Relations
Corporate Head Office 150 King Street West, Suite 902 Toronto, Ontario M5H 1J9 T: 416 365-5191 Investor Relations jcameron@dpmmetals.com T: 416 219-6177 www.dpmmetals.com ARBN 689 370 894