Safi Silver (SF) Corporate Presentation summary

Strategic vision and corporate overview

• Aims to become a mid-tier African copper producer, leveraging established infrastructure and permits for growth in copper production and exploration across Namibia and Morocco.

• Management team brings deep experience in mine finance, resource development, and African mining operations.

• Rebranding to Safi Silver and shifting focus to exploration projects in Morocco and Namibia following the Kombat Mine sale.

Kombat Mine operations and production

• Kombat Mine has a 15+ year life, with historical production of 12.5 million tonnes of ore at 2.6% copper, 1.55% lead, and 18 g/t silver.

• Combined indicated mineral resource: 13.56 Mt at 1.92% Cu, 0.73% Pb, 14 g/t Ag; probable reserve: 2.40 Mt at 2.40% Cu, 17.4 g/t Ag.

• Production guidance for FY2025: 5,500–6,100 tonnes copper, C1 cash cost $2.80–$3.15/lb, targeting 69.8 million pounds copper by 2027.

• Underground expansion at Asis West and Asis Far West to increase output and lower costs, with significant high-grade drill results.

Exploration and growth potential

• Holds 35 km of mineralized strike length in Namibia, with ongoing exploration and upside at Kombat and the Kalahari Copperbelt.

• Addana Project in Morocco covers 112 km² with high-grade silver, lead, zinc, and copper veins; Silver Hill Project shows strong trench and drill results.

• Kalahari Copper Project spans 963,000 hectares, selected for a €5M EU-funded research initiative to advance exploration technologies.