Orion Minerals (ORN) Investor Presentation summary

Capital structure and financing

• Shares on issue as of September 2025 total 7,502 million, with a market capitalization of AUD 82.5 million (USD 53.8 million).

• Recent capital raising included a placement and loan conversion totaling AUD 5.8 million (ZAR 67 million), with 477 million shares issued to date.

• Project financing for Prieska Copper Zinc Mine (PCZM) includes a ZAR 250 million (USD 20 million) IDC Convertible Loan and a USD 10 million Triple Flag early funding arrangement.

• Acquisition of controlling interest in Okiep Copper Project involves a ZAR 60 million (USD 4.9 million) purchase, partly settled in cash and shares.

• Funding workflow includes equity capital raises, offtake negotiations, IDC funding, and traditional debt options.

Project portfolio and development strategy

• Two fully permitted brownfield projects: Prieska Copper Zinc Mine (PCZM) and Flat Mines at Okiep Copper Project (OCP), both with DFS published in March 2025.

• PCZM to be developed first, starting with shallow mining (Uppers) and transitioning to deeper mining (Deeps), targeting first concentrate by Christmas 2026.

• Flat Mines at OCP is undergoing optimization, with a focus on improving DFS financial metrics.

• PCZM Phase 1 targets shallow underground mining, while Phase 2 aims for annual production of 22kt copper and 65kt zinc.

• Project execution emphasizes governance, operational readiness, and value engineering.

Mineral resources and reserves

• PCZM total mineral resources: 31Mt @ 1.2% Cu and 3.6% Zn (370kt Cu, 1.12Mt Zn); probable ore reserves: 15.6Mt @ 1.1% Cu and 3.1% Zn (164kt Cu, 458kt Zn).

• Flat Mines (OCP) total mineral resources: 10Mt @ 1.3% Cu (132kt Cu); probable ore reserves: 6.1Mt @ 1.2% Cu (71kt Cu).

• PCZM Deeps LoM plan: 22.6Mt @ 1.0% Cu and 3.3% Zn, with a Cu equivalent grade of 1.6%.

• Combined Uppers and Deeps probable reserves: 15.6Mt @ 1.1% Cu, 3.1% Zn, 1.6% CuEq.

• Flat Mines Project (OCP) total mineral resources: 10Mt @ 1.3% Cu (132kt contained copper).