Capstone Copper (CS) Corporate presentation summary

Strategic growth and operational overview

• Five long-life copper assets in stable American jurisdictions, targeting ~400ktpa copper production with declining unit costs and over $1B in liquidity as of June 2025.

• District-scale growth driven by expansions at Mantoverde, Santo Domingo, and Mantos Blancos, with significant exploration at Sierra Norte and other sites.

• Mantoverde achieved nameplate throughput within one year post-construction, outperforming industry ramp-up averages.

• Mantoverde Optimized brownfield expansion to 45ktpd throughput, adding 20ktpa copper at $176M capex, with further Phase II expansion potential.

• Santo Domingo project fully permitted, with a 19-year mine life, 106ktpa average copper production, and robust economics (24% post-tax IRR, $2.3B capex).

Financial strength and capital allocation

• Net debt of $692M and $1.1B liquidity as of June 2025, with a disciplined approach targeting <1.0x net leverage before sanctioning major projects.

• Simplified debt structure with long-dated maturities and a $1B revolving credit facility maturing in 2029.

• 2025 guidance: consolidated copper production of 220–255kt at C1 cash costs of $2.20–$2.50/lb; $585M total capex and $40M exploration budget.

• Q2 2025: $543M revenue, $216M adjusted EBITDA, and $27.5M adjusted net income.

Asset and project pipeline

• Mantoverde and Santo Domingo integration targets >250ktpa low-cost copper with significant iron and cobalt by-products.

• Mantos Blancos Phase II and tailings reprocessing studies underway, aiming to expand sulphide and cathode production.

• Pinto Valley district consolidation and Copper Cities project offer long-term resource and mine-life extension potential.

• Cozamin mine plan extended to 2030, with productivity improvements and selective mining techniques reducing costs.