Orion Minerals (ORN) Investor presentation summary

Strategic priorities and project pipeline

• Focus on three priorities: advancing Prieska Copper Zinc Mine (PCZM), optimising Okiep Flat Mines, and building an exploration pipeline in the Northern Cape base metals province.

• PCZM is moving from exploration to production, with first concentrate targeted for Q3 2027 and Glencore funding secured.

• Okiep Flat Mines project is undergoing drilling and optimisation, aiming to bring production forward and reduce upfront capital.

• Exploration pipeline strengthened by participation in the 2026 BHP Xplor accelerator, providing funding and access to global expertise.

Flagship project: Prieska Copper Zinc Mine (PCZM)

• Total Mineral Resources: 31Mt @ 1.2% Cu and 3.6% Zn; Probable Ore Reserves: 15.6Mt @ 1.1% Cu and 3.1% Zn.

• Life-of-mine production: 213,055t Cu and 610,630t Zn in concentrate.

• Post-tax NPV: AUD568 million; IRR: 26%; payback in 4.8 years from start of concentrate production.

• All-in sustaining cost (AISC): USD0.94/lb Cu, placing it in the lowest quartile globally.

• Two-phase development: Uppers and Deeps, with Glencore providing a US$250m prepayment facility.

Okiep Flat Mines project

• Total Mineral Resources: 10Mt @ 1.3% Cu; Probable Ore Reserves: 6.1Mt @ 1.2% Cu.

• Life-of-mine production: 78,340t contained Cu; post-tax NPV: AUD75 million; IRR: 19%.

• AISC: USD2.39/lb Cu; capital intensity: USD10,383/t Cu (pa).

• Drilling at Flat Mines East and South targeting high-grade intersections, with optimisation to be completed in 6 months.