Atalaya Mining Copper (ATYM) investor relations material

Executive summary

• Q3 copper production rose to 13,967 tonnes from 12,123 tonnes YoY, supported by stronger grade and recovery; FY2026 production is expected at the low end of guidance.

• Higher copper prices and operating performance contributed to a stronger balance sheet, with net cash of €342.1 million at 30 September 2026.

Financial highlights

• Average realised copper price, excluding QPs closed during Q3, was US$6.44/lb versus US$6.14/lb in Q2; average spot price was US$6.41/lb.

• Q3 settlement and fair-value adjustments for provisional pricing were negative €1.1 million.

• Cash and cash equivalents were €354.1 million at 30 September 2026, versus €166.3 million at 31 December 2025.

Outlook and guidance

• FY2026 copper production expected at the low end of 50,000–54,000 tonnes; silver contained in concentrate expected at the low end of 0.9–1.1 million ounces.

• FY2026 Cash Costs guidance remains US$2.60–2.90/lb and AISC US$3.10–3.40/lb of payable copper, despite cost pressures.

• Riotinto guidance: ore mined 15.5–16.0 million tonnes, ore processed 15.8–16.2 million tonnes, copper grade 0.36–0.39%, and recovery 80–83%.