Press Release Koryx Copper Investor Presentation – May 2026

INVESTMENT HIGHLIGHTS

Advancing a world-class Cu project in Namibia

Simple, scalable, near term.

Low r isk, low cost, long life.

Investor Presentation Canaccord Las Vegas Conference / May 2026 Alan Friedman : Chairman

INVESTMENT HIGHLIGHTS - THE WORLD CLASS NEW HAIB Cu/Mo PROJECT

1. Excellent Pedigree: Formerly Rio Tinto and Teck owned, >120,000m of historical drilling and extensive metallurgical

   testwork. Updated PEA & technical studies completed in 2025 incl. +55,000m infill drill program underway.

2. Technically Simple & Economically Sound: Large-scale, low cost, long life. Scalable, pre-PFS-stage open pit sulphide Cu/Mo/Au project located at low altitude in an ideal, infrastructure-rich area of southern Namibia close to the South African border. PFS to be published in H2 2026.

3. Refinanced under credible new Leadership: Since end of 2024 under proven Namibian leadership & technical team with impeccable track record of successful Namibian mine development & shareholder value creation.

4. Proven Value Creation Strategy: Stated aim of optimizing, right-sizing and de-risking the project towards an investment decision and/or asset/equity sale.

5. Low Equity Valuation

   TSXV:KRY 2

   
   
   A PROVEN TRACK RECORD OF SUCCESS IN NAMIBIA

   • Highly successful business partnership. Delivered significant shareholder value

     through multiple successful mining exits since 2011.

   • Proven leadership & technical team with strong Namibian roots.

   • Focus on core competence (identify, acquire, advance) and repeating past success.
   • In early 2024 took over leadership & management control of TSXV-KRY and

initiated turn-around (refinanced, new technical team & strategy)

In progress …..

Completed 2024

Completed 2016 Completed 2011

• Change in management control in early 2024

• ~$100m working capital raised since 2024

• ~10x growth in share price

  since early 2024

• PEA-stage

• PFS Q4 2026

* incl. break-fee, reverse break-fee & bridge equity

** Chinese listed Au producer with $8 billion market cap

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ACCOMPLISHED LEADERSHIP & TECHNICAL TEAM

Executive Team

Heye Daun

President & CEO

• Namibian mining engineer and company builder with

  +25 years of mining &

  public markets experience

• Three successful exits: OSI sold to Shanjin for $368m in 2024; AYX sold to BTO for

  $180m in 2012 and EGX

  merged into LUM in

  $200m transaction in 2016

• Previous roles in banking & fund management in South Africa. First 10 years of career with Rio Tinto, AngloGold & Goldfields, building & operating mines in Africa

  Alan Friedman

  
  
  

  Chairman

  • Toronto-based public markets entrepreneur with 25 years of experience in acquisitions, financings, go-public transactions and M&A

  • Co-founder and Director of TSX-V listed Eco (Atlantic) Oil and Gas Ltd., and co-founder of Auryx Gold Corp. and Osino Resources Corp. Formerly with Investec Bank and Director of the Canada-Southern Africa Chamber of Business

  • Two successful mining exits:

    AYX sold to BTO for C$ 180m

    in 2012 and Osino sold to

    Shanjin for C$ 380m in 2024

    Tony Da Silva

    
    
    

    Chief Financial Officer

  • Qualified Chartered Accountant with + 20 years of experience as a finance professional in private and public companies, auditing and capital asset management,

  • Ex-CFO for Osino Resources, sold to Shanjin for $380m

Previously with Nexia International and BlueAlpha Investment Management.

Management Team

Charles Creasy VP Project Development

Steve Burks Senior Met Study Director

Jon Andrew

VP Exploration

Simson Kupindi Operations Geology Manager

Rob Zipplies Sustainability Manager

Julia Becker Corporate Communications

TSXV:KRY 4

CLEAN & SIMPLE SHARE STRUCTURE WITH STRONG FINANCIAL BACKING

CAPITAL STRUCTURE

SHAREHOLDER OVERVIEW

SIGNIFICANT SHAREHOLDERS

Other 54%

120.3m

Issued

Institutions, Strategics, & HNW 26%

Teck

~5%

Management

& Directors

SHARE PRICE PERFORMANCE (RELATIVE 1-YEAR)

CAD51m financing

concluded Jan 2026 @ C$2.45/share

~15%

Ross Beaty

Management & Namibian HNW

RESEARCH COVERAGE

TSXV:KRY 5

NAMIBIA - A WORLD-CLASS MINING JURISDICTION

Current & former in-country mining producers (gold, diamonds, uranium, copper and industrial metals)

+120 year mining history

STABLE & MINING FRIENDLY

• Stable democracy, independent judiciary,

  diverse economy

• Transparent system of mineral & surface title

• Strong political and social support of mining with stated ambitions to develop mineral resources

  EXCELLENT INFRASTRUCTURE

• Excellent physical & social infrastructure

• Within 20km's of essential utilities, roads, grid power, water supply & well-serviced towns

  WELL-ESTABLISHED MINING INDUSTRY

• Major revenue earner & employer

• Stable tax code and fair fiscal terms

  
  
  
  
  
  
  
  
  

• N$ sovereign bonds trading at 8.3% YTM, comparing well to other favorable mining development jurisdictions such as Botswana (10.2%), Mexico (7.8%), and Brazil (9.7%) for similar maturities

TSXV:KRY 6

Haib Cu/Mo

Porphyry Project

Location

TSXV:KRY

NAMIBIA - TECTONO-STRATIGRAPHIC SETTING

• Haib is a large, world-class, advanced open-pit Cu/Mo porphyry deposit with a long history of exploration & project development

• One of a few Paleoproterozoic porphyry copper

  deposit in the world (two in Namibia).

  Excellent pedigree (Falconbridge, Rio Tinto, Teck) with a long history of exploration & project advancement

• Due to its age (1.9Ga), multiple metamorphic and deformation events, but classic mineralization and alteration features typical of these deposits remain.

• Mainly chalcopyrite with minor bornite and chalcocite present

• Comparable size & grade projects in younger belts; Pebble (Alaska), Warintza (Ecuador). Tier 1 examples often have significant supergene enrichment; Escondida (Chile)

  7

  HAIB COPPER PROJECT: AERIAL VIEW LOOKING EAST
  
  

  Approximate Future Open Pit Outline

  TSXV:KRY 8

  
  
  
  
  HAIB MINERAL RESOURCE ESTIMATE (MARCH 2026)

  Category Type

  Tonnes Cu Grade Mo Grade Au Grade

  CuEq Grade

  Cu Content

  Mo Content

  Cu Content

  Mo Content

  Au Content

  Indicated

  Inferred

  (Mt) (%) (ppm) (g/t)

  Total High Grade (>0.25% Cu) 389 0.36 69 0.02

  Total Low Grade (0.15-0.25% Cu) 355 0.19 56 0.02

  Total 744 0.28 63 0.02

  Total High Grade (>0.25% Cu) 182 0.35 84 0.02

  Total Low Grade (0.15-0.25% Cu) 397 0.19 58 0.02

  Total 579 0.24 66 0.02

  (%) (Mlbs)

  0.40 3,106

  0.22 1,502

  0.32 4,608

  0.39 1,402

  0.22 1,651

  0.28 3,052

  (Mlbs)

  59.3

  44.2

  103.6

  33.9

  50.7

  84.5

  (kt)

  1,409

  681

  2,090

  636

  749

  1,385

  (kt) (koz)

  26.9 272

  20.1 216

  47 488

  15.4 124

  23 256

  38.3 380

  TSXV:KRY 10

  HAIB PROJECT

  NW-SE Longitudinal Section Looking North-east

  
  
  

  0m 250m 500m

  
  
  IDEAL INFRASTRUCTURE LOCATION AND SITE LAYOUT
  
  

  Existing Grid power close to site (to be upgraded)

  Haib Open Pit

  Orange river water pump station, pipeline & site water storage dam

  
  
  

  Grid Power

  • Application for NamPower to conduct a capacity assessment to connect to the 220kV line 45km from the plant site

  • 150MW power demand sufficient grid power available from SA grid via Namibia

  • PV, wind power assessment underway

    Water Supply

  • 20m m3 pa water demand for a 20mtpa plant. Various supply scenarios:
  • Orange river source: (9km) plus on- site water storage in attenuation dams - capacity for up to 6 month's water storage
  • Neckartal dam alternative: (230km pipeline) backup / growth option being advanced

TSXV:KRY 11

KORYX TECHNICAL STRATEGY: DELIVER HAIB AS A WORLD CLASS Cu/Mo/Au PROJECT

1. Right-size & Optimize:

   • Complete met testwork, demonstrate techno-economic feasibility of conventional sulfide flotation process

   • Investigate viable, novel processing techniques to enhance process flowsheet

   • MRE Update (Q1 2026)

   • PFS (Q4 2026)

2. Deliver Additional Upside:

   • Improve MRE size and grade (Mo/Au by-products, high grade shoots, low grade halo)

   • Evaluate low grade processing options (conventional mill/float + sorting vs. heap leach options)

   • Demonstrate effectiveness of ore sorting, coarse particle flotation (CPF) & heap leach trade-offs

3. Further De-risk & Permit:

   • Establish strong social license (national, regional, local)

   • Enhanced infrastructure & utility trade-off studies (water, power, transport)

   • Complete major permitting (environmental & mine permitting)

Best-in-class specialist mining & engineering consultants, directed by proven & highly competent in-house technical team with a fifteen (15) year track record of successful Namibian mine development and project exits.

TSXV:KRY 12

INDICATIVE DEVELOPMENT SCHEDULE

• C$35m work program aiming to increase MRE grade and size, optimize & right size & demonstrate the techno-economic feasibility of a 100ktpa open pit copper mine

• Aiming to deliver a permitted, de-risked PFS project, with financing, DFS & implementation to commence in 2027

  
  
  

  2024 2025 2026 2027

  EXP LO RATIO N PHASE

  ST UDY PHASE

  F EASIBILIT Y & F IN AN CIN G

  IM PLEM EN T ATIO N PH ASE

  Drilling &

  Resource

  MRE

  Update

  55,000m resource conversion & growth drill program

  H a i b C o p p e r P r o j e c t

  Studies

  Met Testwork & Trade-offs

  PEA

  MRE

  Update

  PFS

  Variability

  Testwork

  DFS & FEED

  Permitting

  Permitting (Mining & Environmental)

  Site-specific

  Permits

  
  
  

  Financing

  Project Financing

  Construction

  
  
  

  EXP LO RATIO N

  EXP LO RATIO N

  EXP LO RATIO N &

  EXP LO RATIO N

  icense consolidation,

  data interpretation

  Target definition, target testing, discovery drilling

  L

  O t h e r

  Zambia/Namibia Regional Exploration

  (1) Level of Technical Studies ( Upd ated MRE/PEA/PFS) depen dant on p rogress with resource con ver sion dr illing, on going heap lea ch (HL) testwork a nd additional mill/float (MF) versus HL trade-off studies

  TSXV:KRY 13

  SCHEMATIC SITE LAYOUT (CLAUDE AI-GENERATED)

  Image Credit: Tertius Liebenberg / Capricorn Asset Management

  
  
  
  
  RESPONSIBLE MINING

  Sustainability Management

  
  
  Developing a sustainability plan and implementation roadmap

  2025

  2026

  
  
  

  That is materiality-driven and considers compliance, risk, stakeholder and investor expectations, best practices and business strategy

  • Develop responsible mining implementation roadmap

  • Define Koryx's responsible mining narrative

  • Map and engage community stakeholders

  • Develop local content plan (employment, supply, economic development)

  • Ensure environmental stewardship, regulatory compliance and high

    occupational health & safety standards

  • Continue embedding sustainability practices and improve sustainability performance

  • Publish inaugural sustainability report

Guiding frameworks and standards

TSXV:KRY 15

a SH.".AE 'ZF Fl1 CAL f?E*z"ENl?zS

THE NAMIBIAN MINING

KORYX

COPPER

Where does the money go?

What is this data showing?

Revenue breakdown per tonne of copper

produced at Koryx Copper's Haib project.

Revenue per tonne Cu

Local Spend

Fo eign pen

5140

1380

of revenues captured by Namibia

PAYE

Import Duties Revenue-based Taxes

5262

Final fñvéstors

Returns

20%

Source: Wood Mackenzie Analysis

These numbers are based on Koryx Oopper's recently published, and publicly available Preliminary Economic Assessment and the projections made therein. Refer to koryxcopper.com

KORYX VALUATION BENCHMARKING - P / NAV Copper Developers Junior Copper Producers Intermediate Copper Producers

1.50x

1.37x

1.27x 1.37x

1.19x

0.95x

0.87x

0.77x 0.85x

0.71x

0.61x

0.47x

0.39x 0.44x 0.45x 0.46x

0.32x 0.38x

0.22x 0.27x 0.28x 0.31x

0.12x

0.06x 0.11x

Alta

St.

Augustine

Oroco

Caravel

Gunnison

Hot Chili

Koryx

Western Copper

Aldebaran

SolGold

Northern Dynasty

ATEX

Solaris

Northisle

Arizona

Sonoran

Faraday

Marimaca

Trilogy

NGEx

Ivanhoe Electric

Atalaya

Capstone

29Metals

Sandfire

Lundin

Mining

(ratio)

Ero Copper

Source: Street consensus broker estimates

Notes: Metrics accounted for on an attributable basis for Trilogy, Oroco, Aldebaran and NGEx. Pricing date as of 13-Feb.

TSXV:KRY 17

INVESTMENT HIGHLIGHTS - THE NEW KORYX

PEA-stage copper exploration and development company focused on advancing its 100% owned, advanced-stage Haib Copper Project in Namibia, whilst also building a portfolio of copper exploration licenses in Zambia.

• Highly Capable Team

Multi-exit track record in capital markets, mining project development and M&A

• Quality Asset Pedigreed Haib Cu/Mo project long-life, low-risk, low-cost, fast-tracking to development

  • World-class Jurisdiction

  Namibia is stable, mining-friendly with excellent infrastructure & predictable permitting

• Blue-chip Financial Backing Management, Ross Beaty, Teck (Anglo), Institutions & Namibian HNW

  • Excellent Growth Potential Right-size & optimize, improved MRE, improved PFS due end 2026

• Low Equity Valuation Low valuation, downside protected, primed for re-rating Major near-term Catalysts MRE Update Q1 and PFS Q4 2026

TSXV:KRY 18

THANK YOU

Picture taken during February 2025 Investor Site Visit

RECENT PRE-MINING INDABA 2025 SITE VISIT WITH INVESTORS & ANALYSTS

TSXV:KRY 19

PEER GROUP BENCH MARKING

HAIB BENCHMARKING - CAPITAL INTENSITY (MAJOR AND NON-MAJOR CONTROLLED PROJECTS)

LOM CAPITAL INTENSITY (US$/ktpa Cu)

Connection to a Major

$17,702

45,000

Technical Report >3 Years

40,000

35,000

30,000

(US$/ktpa Cu)

25,000

20,000

15,000

10,000

5,000

Cactus

Santo Tomas

Cascabel

Haquira

Costa Fuego

MOD

Michiquillay

Taca Taca

Gunnison

Tia Maria

Vizcachitas

Canariaco

Arctic

Golpu

Haib

Copper Creek

Caravel

Antler

Galeno

Los Azules

La Granja

Santa Cruz

Los Chancas

Josemaria

El Pachon

La Arena II

Schaft Creek

Warintza

Reko Diq

Pebble

El Arco

Galore Creek

NuevaUnion

Ruta del Cobre

Casino

KingKing

-

Source: Company filings, technical reports, Wood Mackenzie

Note: All metrics shown on a copper-only basis due to inconsistancies in companies formally reporting Cu Eq. grades, and does not show future growth at Haib through the addition of

molybdenum.

TSXV:KRY 21