TABLE OF KEY METRICS
Key Valuation Metrics at $4.60/lb Copper Price Base Case
| Valuation Metrics (Unlevered) | Unit | 2026 PEA |
| Net Present Value @ 8% (after-tax) | $ millions | 1,952 |
| Net Present Value @ 10% (after-tax) | $ millions | 1,419 |
| Internal Rate of Return (after-tax) | % | 22.7 |
| Payback Period | # years | 3.9 |
| EBITDA¹ (annual average Y1–Y15) | $ millions | 488 |
| EBITDA¹ (annual average Y1–Y21) | $ millions | 435 |
| Free Cash Flow¹ (annual average Y1–Y15) | $ millions | 366 |
| Free Cash Flow¹ (annual average Y1-Y21) | $ millions | 329 |
Notes:
1. Non-IFRS financial measure; see “Non-IFRS Financial Measures”.
Key Project Metrics
| Project Metrics | Unit | 2026 PEA |
| Construction Period | # months | 24 |
| Life of Mine | # years | 21 |
| Strip Ratio | Waste : Feed | 2.56 |
| Mineralized Material Mined | millions tons | 641 |
| High Purity Limestone Mined | millions tons | 133 |
| Alluvium-Gravel Waste Mined | millions tons | 1,007 |
| Hard-Rock Waste Mined | millions tons | 501 |
| Copper Grade of Material Placed on Leach Pad | % CuT | 0.43% |
| Annual Crusher Throughput (max) | millions tons | 40 |
| Copper Recovery – Global | % CuT | 68.0% |
| Oxide / Enriched Recoveries | % CuTSol | 90.2% |
| Primary Sulfide Recoveries (years 10 to 21) | % CuSu | 59.9% |
| Recovered Copper Cathode | millions lbs | 3,187 |
| Average Annual Copper Production (years 1-15) | millions lbs 000’s tons |
174 87 |
| Initial Capital (including contingency) | $ millions | 1,544 |
| Initial Capital Excluding Acid Plant | $ millions | 1,261 |
| Capital Intensity Excluding Acid Plant1 | $/ton Cu Capacity | 14,278 |
| Profitability Ratio | NPV8% / Initial Capex | 1.3 |
| Expansion Capital (including contingency)2 | $ millions | 682 |
| Sustaining Capital3 | $ millions | 613 |
| Cash Cost (C1)4 | $/lb Cu | 1.69 |
| Sustaining Cash Cost5 | $/lb Cu | 2.00 |
| All-In Sustaining Cash Cost6 | $/lb Cu | 2.06 |
Notes:
1. Capital intensity is calculated as initial capital excluding acid plant, $1,261M, divided by maximum annual copper cathode plant capacity 88.3 Ktons
2. Expansion capital is expenditures to either build new facilities, for example the cement plant built in years 4-5, or to expand the capacity of initial facilities, for example increased capacity of leach pad
3. Sustaining Capital are expenditures to maintain initial facilities. Includes $186 million in deferred stripping costs. Includes sustaining capital for both the copper plant and the cement plant
4. Cash Cost includes mine operating, crushing and leaching, process plant operating, and general and administrative costs ("G&A")
5. Sustaining Cost includes Cash Cost, Sustaining Capex, Deferred Stripping, and Royalties
6. All-In Sustaining Cost (AISC) includes Sustaining Cost, Property Taxes, Severance Taxes, and Closure Costs. It excludes expansion and initial capital and income taxes
