Solaris Resources (SLS) Investor presentation summary

Investment highlights

• Warintza project confirmed as a Tier 1 asset with global scale, multi-decade mine life, and first quartile costs, driving significant EBITDA and free cash flow generation.

• District-scale potential with exploration upside and no attachment to a major, offering strategic flexibility.

• Fully funded to complete feasibility study and value-accretive actions, supported by a US$200 million financing package secured in May 2025.

• Social license to operate secured, with Impact & Benefits Agreements signed and government endorsements at all levels.

• Experienced management team with a proven track record in global copper projects and Latin American operations.

Project economics and operational metrics

• PFS highlights a 312% increase in measured and indicated mineral resources compared to 2024, with a reserve life exceeding 20 years and potential to extend by 25–30 years.

• Average annual copper equivalent production of 304kt (years 1–5) and 242kt (years 1–15), with first quartile AISC of $0.85/lb (years 1–5) and $1.07/lb (years 1–15).

• Post-tax NPV (8%) of $4.6 billion and IRR of 26%, with annual EBITDA of $1.9 billion (years 1–5) and $1.4 billion (years 1–15).

• Post-tax payback period of 2.6 years, with LOM total EBITDA of $25.4 billion and FCF of $17.4 billion.

• Capital intensity benchmarked at $15,440/t, significantly lower than industry peers due to existing infrastructure and low elevation.

Technical and environmental advantages

• Conventional open pit mining and processing methods at low elevation, with minimal pre-stripping and simple plant design.

• Low strip ratio (0.53:1) and high strip-adjusted grades reduce costs and environmental footprint.

• Clean, high-quality concentrate provides marketing flexibility; plant and tailings management facility designed for optimal safety and environmental standards.

• Project footprint is compact and environmentally encapsulated by natural ridge lines, with water management aligned to best practices.