Central Asia Metals (CAML) Trading update summary

Production and operational performance

• Copper, zinc, and lead production for the first five months of 2026 exceeded 2025 levels, with copper at 5,141 tonnes, zinc at 7,566 tonnes, and lead at 11,142 tonnes.

• Record copper prices led to an average received price of $13,076 per tonne, with zinc at $3,299 and lead at $1,934 per tonne.

• Lead concentrate treatment charges turned negative, boosting Sasa's net revenues.

• No supply chain issues or abnormal input prices reported despite geopolitical challenges.

Financial position and dividends

• Cash balance at year-end 2025 was $80.1 million with minimal debt.

• Final 2025 dividend of 7.5p per share approved, payable on 29 June 2026.

• Dividend policy maintained at distributing 30-50% of adjusted free cash flow.

• H1 2026 is expected to be highly profitable and cash-generative.

Exploration and growth initiatives

• Maiden drilling completed at two Kazakhstan exploration projects, on schedule and within budget.

• Option agreement signed for a new licence in the Tengiz Basin, targeting multiple mineralised zones.

• Additional drilling funded at Aberdeen Minerals' Arthrath project in Scotland.

• First results from Kazakhstan drilling expected in Q3 2026.