FireFly Metals (FFM) Investor presentation summary

Resource and growth

• Green Bay resource totals 60.2Mt at 2.4% CuEq Measured & Indicated and 23.5Mt at 2.5% CuEq Inferred; 72% is in the higher-confidence M&I category.

• High-grade core totals 18.1Mt at 4.3% CuEq M&I and 7.0Mt at 4.4% CuEq Inferred; deepest reported hole graded 49m at 6.1% CuEq.

• The 346km² district land package includes 325+ drill targets, with less than 5% tested; six underground and two surface rigs are operating.

• FY27 regional exploration budget is A$16.7M, targeting Ming extensions, historic VMS mines, Tilt Cove, Nugget Pond and Little Deer.

PEA economics

• The 1.8Mtpa case forecasts a 32-year mine life, post-tax NPV at 7% of ~A$2.2B, IRR of ~41%, and post-tax LOM free cash flow of ~A$5.3B.

• The 1.8Mtpa case targets peak production of ~50ktpa CuEq; initial capital is ~A$514M and C3 cash cost is US$2.34/lb CuEq.

• The 4.6Mtpa case forecasts a 22-year mine life, post-tax NPV at 7% of ~A$3.0B, IRR of ~39%, and post-tax LOM free cash flow of ~A$6.5B.

• The 4.6Mtpa case targets ~100ktpa CuEq peak production; expansion capital is ~A$484M and C3 cash cost is US$2.17/lb CuEq.

• The 4.6Mtpa expansion is expected to be substantially funded from cash flow generated by the 1.8Mtpa base case.

Funding and development

• Pro forma cash and liquid assets are ~A$368M, with no debt or streams; initial debt advice indicates capacity above US$350M (~A$500M) for the 1.8Mtpa case.

• Financing discussions with tier 1 banks, potential offtake partners, export credit agencies and other lenders have included conditional, non-binding indicative terms.

• Early works began in April 2026, including underground development, additional ventilation and power, exploration platforms, camp expansion and water-treatment upgrades.

• Indicative milestones: DFS in Q1 2027, debt and offtake in Q2 2027, FID in mid-2027 and first copper production in 2029.