Foran Mining (FOM) Corporate Presentation summary

Strategic positioning and investment highlights

• Positioned as North America's leading copper developer with a multi-generational, scalable asset base and a focus on net zero carbon copper production.

• Supported by top-tier investors and strategic partnerships, including Fairfax Holdings, Agnico Eagle, Canada Growth Fund, and Pierre Lassonde.

• Saskatchewan offers a premier mining jurisdiction with favorable tax incentives, transparent regulations, and strong collaboration with indigenous communities.

• Ownership structure features significant institutional, retail, and insider participation, reflecting strong stakeholder alignment.

• Sustainability and ESG are core priorities, targeting critical metals demand and responsible development.

Project portfolio and development progress

• Mcllvenna Bay is a wholly owned, company-making VHMS asset with an 18-year initial mine life and expansion potential.

• Over 160,000m of exploration drilling since 1998 supports robust resource definition and low execution risk.

• Construction is well advanced: 42% of surface construction and 98% of detailed engineering completed as of June 30, 2025.

• Underground development reached 1,232m, with 61,000 tonnes of ore stockpiled and commercial production targeted for mid-2026.

• Project execution is managed by an integrated team from G Mining Services and Foran.

Financial position and capital structure

• Total estimated capital sources of C$833–848M, with liquidity needs of C$791–801M for Phase 1 construction, working capital, and exploration.

• Projected liquidity surplus of C$32–57M ensures financial flexibility and full project delivery.

• Market capitalization stands at C$1,384M with 538.5M shares outstanding and strong analyst coverage with an average target price of C$4.08.

• Cash position of C$745M and debt of C$279M as of March 31, 2025, including proceeds from a recent C$350M private placement.

• Access to undrawn credit facilities and equipment finance further supports liquidity.