Orion Minerals (ORN) Investor presentation summary

Strategic priorities and project focus

• Three main priorities: Prieska Copper Zinc Mine (current), Flat Mines Okiep Copper Project (medium term), and a broader exploration pipeline (medium to long term).

• Prieska Copper Zinc Mine has a Mineral Resource of 31 Mt @ 1.2% Cu, 3.6% Zn and a Probable Ore Reserve of 15.6 Mt @ 1.1% Cu, 3.1% Zn.

• Okiep Flat Mines Project holds a Mineral Resource of 10 Mt @ 1.3% Cu and a Probable Ore Reserve of 6.1 Mt @ 1.17% Cu.

• Exploration pipeline includes Okiep Copper Project, Areachap, and Jacomynspan Ni-Co-Cu-PGE Project.

• US$250m Glencore funding secured for Prieska, with first production targeted for Q3 2027.

Project economics and resource details

• Prieska Copper Zinc Mine NPV (post-tax) is AUD568m, IRR 26%, LOM 13 years, and AISC USD0.94/lb Cu.

• Okiep Flat Mines Project NPV (post-tax) is AUD75m, IRR 19%, LOM 12 years, and AISC USD2.39/lb Cu.

• Prieska's life-of-mine production includes 995,598 dmt Cu concentrate and 1,229,197 dmt Zn concentrate.

• Flat Mines Project life-of-mine production includes 261,133 dmt Cu concentrate.

• Prieska's payback period is 4.8 years, while Flat Mines is 5.3 years from start of concentrate production.

Exploration and regional opportunity

• Holds 3,400 km² of prime mining and exploration rights in the Northern Cape, covering 70% of the Areachap Belt and 75% of the Okiep District.

• Project pipeline includes multiple targets at various stages, leveraging historical datasets with over 17,000 drillholes and 1.6 million metres of logging.

• Macro-scale geophysical mapping and new technology are being used to identify deep mineral systems and target zones.

• The region has a rich copper history, with historical ore grades up to 20% Cu and over 2 million tonnes of copper produced.

• Ongoing optimisation and high-grade extension drilling at Flat Mines.