Amerigo Resources (ARG) Corporate presentation summary

Strategic positioning and business model

• Operates a long-term copper asset with a sustainable, simple business model focused on recovering copper from mining waste, minimizing traditional mining risks and overhead.

• Maintains a strategic, multi-decade partnership with Codelco’s El Teniente mine, processing waste from the world’s largest underground copper mine, with operations expected to continue until at least 2082.

• Operations are based in Chile, offering minimal jurisdictional risk and direct leverage to copper prices.

Capital return strategy and shareholder value

• Capital Return Strategy (CRS) prioritizes returning capital to shareholders through quarterly and performance dividends, as well as share buybacks, with no need for growth capital.

• CRS has delivered a 54.95% CAGR since October 2021, outperforming copper peers and ETFs.

• Over $39.9M CAD spent on share buybacks since CRS inception, resulting in a significant reduction in shares outstanding.

• Yield on quarterly dividends is 2.4% (as of May 31, 2026), excluding performance dividends.

Operational performance and financial guidance

• Consistently strong copper production, with 2024 guidance at 64.6M lbs and 2026 guidance at 63.8M lbs; operational excellence supported by high plant availability and cost controls.

• Cash cost per pound produced ranged from $1.89 to $2.17 in recent years, with optimization and risk mitigation Capex managed to protect margins.

• EBITDA and FCF for 2026 are highly sensitive to copper prices, with EBITDA projected at $74.5M–$100.1M and FCF at $34.8M–$59.2M depending on copper price scenarios.

• Molybdenum by-product credits further reduce cash costs, with credits increasing as moly prices rise.