Centaurus Metals (CTM) AGM 2025 Presentation summary

Strategic positioning and project overview

• Focus on developing critical minerals projects in Brazil, targeting nickel, copper, and iron assets in Pará and Minas Gerais provinces.

• Board and management team with deep mining, finance, and engineering experience; strong balance sheet and clear growth strategy.

• Brazil offers a favorable mining jurisdiction with clear regulations, low effective tax rates, and abundant renewable energy.

Jaguar Nickel Sulphide Project highlights

• One of the world's largest undeveloped near-surface nickel sulphide resources: 138.2Mt @ 0.87% Ni for 1.2Mt contained nickel.

• JORC Ore Reserve: 52Mt @ 0.78% Ni for 406,100t contained nickel; average production of 22,600tpa Ni for first 7 years.

• First quartile AISC of US$4.43/lb Ni (payable), low pre-production capex of US$380M, and capital payback in 1.8 years.

• Life-of-mine CO2 emissions of 6.54t/t Ni, ranking below 90% of global nickel production.

• Key environmental licences secured; mining lease expected Q2 2025.

Project economics and financials

• Post-tax NPV of US$735M, IRR of 34%, and LOM post-tax operating cash flow of US$2.0B.

• EBITDA of US$2.45B and average annual free cash flow of US$169M over first 7 years.

• Sensitivity analysis shows robust economics across nickel price, recovery, and FX scenarios.

• Value engineering reduced capex, improved concentrate grade (30.1% Ni), and increased payability.