Ero Copper (ERO) Investor presentation summary

Company overview and strategy

• Operates a diversified, high-margin copper portfolio in Brazil with meaningful gold production and a strong sustainability focus.

• Significant near-term growth expected as the Tucumã Operation ramps up to full capacity.

• Long-term pipeline includes advancing the Furnas Copper-Gold Project with Vale Base Metals.

• Maintains a robust balance sheet, well-positioned to fund growth initiatives.

• Supported by Brazil’s clean energy matrix, enhancing ESG credentials.

Operational performance and growth

• Copper production has grown from 20.1 kt in 2017 to an estimated 73.8 kt in 2025, with further growth to 90.0 kt projected for 2026–2027.

• Caraíba is a high-margin flagship copper operation with steady production and ongoing expansion, including a new external shaft at Pilar Mine.

• Tucumã achieved commercial production in July 2025, with ramp-up supporting sequential production increases.

• Xavantina is a high-grade, low-cost gold operation, targeting increased production and operational efficiencies through mechanization.

Project pipeline and exploration

• Furnas Copper-Gold Project features initial indicated and inferred resources of 35 Mt and 61 Mt, respectively, with a five-year earn-in for a 60% interest.

• Phase 1 drilling at Furnas completed in July 2025, with 40,000 meters planned for 2025 to support scoping and pre-feasibility studies.

• Exploration targets include regional copper and nickel at Caraíba, brownfield and greenfield at Tucumã, and vein extensions at Xavantina.