Orvana Minerals (ORV) Corporate presentation summary

Strategy and operations overview

• Focus on three 100%-owned assets: Orovalle (Spain), Don Mario (Bolivia), and Taguas (Argentina), each at different stages of production and exploration.

• Orovalle has delivered stable production since 2011, with ongoing brownfield and greenfield exploration to expand resources.

• Don Mario is resuming production in 2026, with a ramp-up of oxide stockpile processing and plant expansion, targeting stable cash flow.

• Taguas is advancing with its first deep drilling campaign, targeting copper-gold porphyry potential, with results expected to inform long-term strategy.

Financial and production performance

• FY2025 revenue was $98.9M, with a net loss of $12.3M and EBITDA of $21.4M; Q1 FY2026 revenue was $32.0M with a net loss of $7.2M.

• Orovalle produced 29.3k oz gold, 115.5k oz silver, and 3.6M lbs copper in FY2025.

• FY2027 production targets: 65k oz gold and 19M lbs copper across all operations.

• As of December 31, 2025, unrestricted cash was $32.2M, with no debt and a market capitalization of $230M CAD.

Asset and resource highlights

• Orovalle (Spain): Proven and probable reserves of 2.53Mt at 2.61 g/t Au, 0.25% Cu, and 4.10 g/t Ag; measured and indicated resources of 7.53Mt at 3.36 g/t Au, 0.36% Cu, and 6.72 g/t Ag.

• Don Mario (Bolivia): Proven reserves of 2.03Mt at 1.85 g/t Au, 1.89% Cu, and 49.3 g/t Ag; measured resources of 2.18Mt at 1.84 g/t Au, 1.89% Cu, and 49.3 g/t Ag.

• Taguas (Argentina): Indicated oxide resources of 39.5Mt at 0.37 g/t Au and 11.1 g/t Ag; inferred sulfide resources of 80.4Mt at 0.28 g/t Au, 7.5 g/t Ag, and 0.17% Cu.