Hot Chili (HCH) Investor presentation summary

La Verde discovery

• La Verde drilling exceeds 40,000 m and outlines a 1,400 m x 800 m x 800 m mineralised footprint, open in all directions; 15 holes reported significant intercepts above 0.7% CuEq.

• Step-out drilling identified La Verde South, a second porphyry centre that nearly doubles the mineralisation footprint; DKP084 returned 148 m at 0.44% CuEq from 36 m.

• DKD039 returned 725 m at 0.42% CuEq from 18 m, including 62 m at 1.03% CuEq from 671 m; four rigs were operating, with assays pending for 25 holes.

• A maiden La Verde MRE is planned, with infill and step-out drilling underway; integration into Costa Fuego is identified as a growth pathway.

Costa Fuego development

• Costa Fuego has 798 Mt of indicated resources at 0.45% CuEq, containing 3.6 Mt CuEq; total inferred resources are 203 Mt at 0.31% CuEq.

• The 2025 PFS estimates post-tax NPV8 of US$1.20B, IRR of 19%, startup capital of US$1.27B and 4.5-year payback at long-term prices of US$4.30/lb copper and US$2,280/oz gold.

• Primary production is forecast at 116 ktpa CuEq for 14 years, including 95 ktpa copper; project life is 20 years and C1 cash cost is US$1.38/lb copper, net of by-product credits.

• Planned infrastructure includes a central processing facility at Productora, 60 km from the seawater intake; project elevation is 740 m and road distance to port is ~60 km.

• Guidance targets EIA submission in Q2 2027, FID in 2029 and first production in 2031.

Huasco water asset

• The 80%-owned Huasco Water business holds the region’s only active maritime licence with permitted seawater access; a Costa Fuego water offtake agreement is in place.

• Stage 1 seawater supply to Costa Fuego is designed for 500 L/s, with post-tax NPV8 of US$122M, IRR of 19%, US$151M construction capital and 4.5-year payback.

• Stage 2 plans 1,300 L/s desalinated supply to the Huasco Valley, with post-tax NPV8 of US$977M, IRR of 19%, US$1.4B construction capital and 4.0-year payback.

• Staged expansion indicates cumulative supply capacity of up to 2,300 L/s, against identified strategic-window demand above 4,000 L/s within a 150 km radius.