29metals Limited · ASX:29M
29metals — Q3 2026 Earnings Presentation
27 slides from 29metals's earnings presentation, Oct 21, 2026
Slide 1: September Quarter 2026
September Quarter 2026 rsonal use only Unlocking value to empower the future 21 October 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 rsonal use only 2.3Mt Contained Copper + 2.2Mt Zinc, 1.2Moz Gold, 73Moz Silver in Group Mineral Resources estimates2 Long life assets Resources to support 10
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 rsonal use only 2025 Production (Golden Grove) 2026 Guidance (Golden Grove) ▪ 22kt Copper @ AIS
Slide 5: Key Points
Key Points Sep-Qtr-2026 Safety1 Golden Grove Copper Production Zinc Production C1 Costs2 rsonal use only 4.2kt 2.0kt US$5.24/lb Cu 7.9 ▪ Safe execution of an 11-day planned major maintenance shutdown. ▪ Xantho Extended mining recommenced in October, Golden Grove’s highest-grade copper and zinc ore s
Slide 6: Golden Grove
rsonal use only Golden Grove
Slide 7: Golden Grove Sep-Qtr-2026: Operations Overview
Golden Grove Sep-Qtr-2026: Operations Overview Ore mined contribution by source (%) Comments 100% ▪ Ore mined 351kt (Jun-Qtr: 299kt). 18% 15% 29% - Up 17%, despite Xantho Extended being offline during the quarter. rsonal use only 38% 32% ▪ Ore milled 301kt (Jun-Qtr: 363kt). - Down 17% due to major p
Slide 8: Xantho Extended safely back online
Xantho Extended safely back online Mining recommenced at Xantho Extended in October, Golden Grove’s highest-grade ore source First stope fired in October and development activities advanced ▪ Three stopes scheduled to be mined by end 2026, first already fired rsonal use only ▪ New multi-level access
Slide 9: Gossan Valley remains on track for first ore by end of 2026
Gossan Valley remains on track for first ore by end of 2026 Gossan Valley to provide production flexibility from an independent and relatively shallow high-grade mining front Gossan Valley box cut and decline development, aerial view, looking north-east rsonal use only 30-Jun-26 30-Sep-26 ~90 Days 9
Slide 10: Golden Grove Sep-Qtr-2026: Costs and Capital Overview
Golden Grove Sep-Qtr-2026: Costs and Capital Overview Site Costs ($ million) Comments ▪ Elevated Site Costs were largely driven by higher labour, power, diesel and consumable costs associated with the planned 11-day maintenance shutdown, rsonal use only 108 increased material movement and site elect
Slide 11: High-grade Resource Extension intercepts highlight Golden Grove growth potential
High-grade Resource Extension intercepts highlight Golden Grove growth potential Drilling results in past 12 months demonstrate potential mine-life extensions at Gossan Hill and an attractive future growth option at Cervantes Golden Grove Long Section1 Gossan Hill Scuddles Highlights: Tryall Resourc
Slide 12: 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 ✓ rsonal use only ▪ Reduction in capital expenditure expected from 2027. ▪ Harvest of the operational and financial bene
Slide 13: Capricorn Copper
rsonal use only Capricorn Copper
Slide 14: 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 rsonal use only Min
Slide 15: A profitable operation prior to temporary suspension due to extreme weather
A profitable operation prior to temporary suspension due to extreme weather1 2yr average copper production of 24.5kt, at an AISC of US$3.60/lb, generating EBITDA of $88m with a copper price significantly lower than today Copper Production (kt) AISC (US$/lb)2 EBITDA ($ million)2 rsonal use only Capri
Slide 16: Regulator approval for TSF is critical for a restart decision
Regulator approval for TSF 3 is critical for a restart decision Response to Request for Information (‘RFI’) in relation to TSF 3 application was submitted to the Regulator in the Sep-Qtr as planned. 2024 2025 2026 Yr 0 Yr 1 Yr 2 rsonal use only Suspension of operations1 Approval Timing Uncertainty T
Slide 17: 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 ✓ Large land position in prolific Mt. Isa Inlier in rsonal use only Capricorn Copper Long Section1 Queensland, Australia ~2 km Large copper metal endowment Esperanza South
Slide 18: Corporate
rsonal use only Corporate
Slide 19: Finance and Corporate: Balance sheet and cash flows
Finance and Corporate Balance sheet and cash flows Unaudited group cash and cash equivalents, and available liquidity ($ million)1 Comments1 rsonal use only ▪ Cash and cash equivalents at 30 September 2026 was $128m (30 June 2026: $188m). 7 ▪ Group liquidity of $142m (30 June 2026: $202m), declined
Slide 20: Why Invest In 29Metals
Why Invest In 29Metals Copper – a critical future facing metal to enable the global transition towards electrification Large copper endowments rsonal use only 2.3Mt Contained Copper + 2.2Mt Zinc, 1.2Moz Gold, 73Moz Silver in Group Mineral Resources estimates2 Long life assets Resources to support 10
Slide 21: Unlocking value to empower the future
rsonal use only Unlocking value to empower the future 21
Slide 22: Appendix
rsonal use only Appendix
Slide 23: 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 estimates Ore Reserves estimates at the Group level are the aggregation of the 31 December 2025 Ore Reserves estimates for for Golden G
Slide 24: 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 25: 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 26: 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 27: Unlocking value to empower the future
rsonal use only Unlocking value to empower the future 27