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SEPTEMBER 202 6 QUARTERLY UPDATE ASX Code : AMI 28 October 202 6
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This presentation has been prepared by Aurelia Metals Limited (‘AMI’ or the ‘Company’). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. This presentation contains forward-looking statements that are not based on historical fact, including those identified by the use of forward-looking terminology containing such words as “believes”, “may”, “will”, “estimates”, “continue”, “anticipates”, “intends”, “expects”, “should”, “schedule”, “program”, “potential” or the negatives thereof and words of similar import. AMI cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the statements. The Company believes that the estimates are reasonable but should not be relied upon. AMI makes no representation, warranty (express or implied), or assurance as to the completeness or accuracy of these projections and, accordingly, expresses no opinion or any other form of assurance regarding them. The Company does not intend to publish updates or revisions of any forward-looking statements included in this document to reflect Aurelia’s circumstances after the date hereof or to reflect subsequent market analysis, other than to the extent required by law. By its very nature, production and exploration for gold and base metals is a high risk business and is not suitable for certain investors. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to AMI and of a general nature which may affect the future operating and financial performance of AMI and the value of an investment in AMI including and not limited to economic conditions, stock market fluctuations, commodity price movements, regional infrastructure constraints, equipment availability, timing of approvals from relevant authorities, regulatory risks, operational risks, reliance on key personnel and foreign currency fluctuations. You should not act or refrain from acting in reliance on this presentation material. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Non-IFRS Financial Information The Company results are reported under International Financial Reporting Standards (IFRS). This presentation also includes non-IFRS information including EBITDA. The non-IFRS information has not been subject to audit or review by the Company’s external auditor and should be used in addition to IFRS information. This presentation has been authorised for release to the ASX by the Board of Aurelia Metals. All amounts are expressed in Australian dollars unless stated otherwise. FORWARD LOOKING STATEMENTS JUNE 2025 QUARTERLY | 21 JULY 2025 | PAGE 2 SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 2
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HIGHLIGHTS SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 3 Gold, copper and zinc production increased Cash building with liquidity above $200M Peak plant expansion nearing completion Great Cobar project remains on budget and schedule New Managing Director and CEO commenced Image: concrete pour of the Great Cobar fresh air raise collar (October 2026) Production growth driving cash generation Highest Cobar Region operating cash flow since 2018
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PRODUCTION AND COSTS Strong start to FY27 with increased gold, copper and zinc production 1. Group Operating Cost includes mining, processing, site admin, transport and logistics, TCRCs, royalties, corporate costs and care and maintenance. Dargues Rehabilitation was reported in Group Operating Costs in FY26 but is reported separately for FY27. SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 4 Measure Unit MarQ FY26 JunQ FY26 SepQ FY27 FY27 Guidance Gold produced koz 13.0 15.3 16.2 50 – 60 Copper produced kt 0.6 0.9 1.3 2.5 – 3.5 Zinc produced kt 6.9 7.6 8.3 26 – 34 Lead produced kt 4.3 5.4 5.2 17 – 25 Group Operating Costs1 $M 76.7 94.5 89.4 340 – 375 Sustaining Capital $M 12.7 15.0 13.2 65 – 75 Growth Capital $M 13.8 14.7 11.7 50 – 70 Exploration $M 2.3 2.1 4.0 14 – 18 Dargues Rehabilitation1 $M 1.3 10 – 12.5 11.7 13.0 15.3 16.2 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Gold Production (koz) 7.2 6.9 7.6 8.3 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Zinc Production (kt) 4.3 4.3 5.4 5.2 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Lead Production (kt) 0.6 0.6 0.9 1.3 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Copper Production (kt) Gold Production (koz) Continuing to benefit from high grade ore from Peak South mine Copper Production (kt) 43% of FY27 guidance midpoint delivered in Q1 Zinc Production (kt) Highest quarterly production since FY22 Lead Production (kt) Q1 production tracking in line with FY27 guidance
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Consistent mine development and ore production 1,547 1,359 1,528 1,506 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Development rates sustained above 1,500m/ qtr 107 113 160 148 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Mining rates building ahead of plant expansion 1,417 1,449 1,336 1,147 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Quarterly development supports the scheduled production ramp up 76 108 112 97 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Sustainable mining rates following a strong FY26 finish Peak Federation MINING SUPPORTS PRODUCTION GROWTH SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 5
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187 197 230 226 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr GOLD, COPPER AND ZINC PRODUCTION INCREASED Higher grades and strong throughput lift metal production Tonnes processed (kt) maintained near record levels SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 6 8.03% 6.12% 6.59% 9.14% 4.48% 3.63% 4.35% 5.37% 1.75g/t 1.72g/t 2.30g/t 2.08g/t 0.00 2.00 4.00 6.00 8.00 10.00 12.00 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Zinc Lead Gold 0.83% 1.03% 1.03% 1.22% 2.48g/t 3.00g/t 2.03g/t 2.71g/t 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Copper Gold Zinc-Lead ore processed: Federation ore lifting processed grade Copper ore processed: Grade higher due to mine sequence 37 61 104 123 Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr ROM stocks increased that will support expanded plant throughput rates
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Tailings and Process Water Management: Project Complete • Ball mill and new cyclone cluster installed • Final tie-in scheduled for late October • Commissioning to be completed in Q2 FY27 • Expected to lift copper throughput and recovery Tertiary Ball Mill: Final tie - in and commissioning underway • Second leach feed thickener completed in July 2026 • Supports improved copper and zinc recoveries • Reduces cyanide consumption SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 7 PEAK PLANT EXPANSION NEARING COMPLETION Expanded capacity from Q3 FY27
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GREAT COBAR ON BUDGET AND SCHEDULE Fresh air raise (FAR) works mark the next major development milestone Mine development of 506m for the quarter Surface collar foundation for raisebore rig completed Raisebore rig mobilisation planned for November to commence pilot hole FAR location (plan view) Image: Great Cobar long section looking west south -west showing planned development through to FY28 Total of 2,380m completed to date First ore on track for FY28 Location of FAR shaft SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 8
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EXPLORATION Peak South Mine continues to deliver exciting results SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 9 Significant gold intersected between the Peak and Kairos deposits1 10.0m (8.5m ETW) @ 1.3% Cu and 113.3g/t Au in UD26PK0224 from 58.0m 1. Refer to ASX Announcement dated 27 October 2026, ‘Cobar District Exploration Update’. Image: Long section of the Peak South Mine area with recently reported drillholes with significant intersections. Kairos Eastern Copper Peak – Kairos 100m strike and 80m down-dip extensions1 23.5m (21.8m ETW) @ 1.3% Cu, 0.1g/t Au and 7g/t Ag in UD26PP2083 from 129.5m 30m strike extension close to current workings1 11.0m (6.4m ETW) @ 1.4% Cu, 1.6% Zn, 2.0% Pb and 13g/t Ag in UD25PE0538 from 39.3m Perseverance Zone A
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Balance sheet benefiting from strong operating performance 8.3 42.9 36.2 53.1 65.3 Sep 25 Qtr Dec 25 Qtr Mar 26 Qtr Jun 26 Qtr Sep 26 Qtr Cobar Region operating cash flow this quarter is highest result since 2018 Net cash increased to $160.7M. Liquidity of over $200M provides growth flexibility OPERATING CASH FLOW DRIVING LIQUIDITY HIGHER SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 10 143.9 65.3 (11.7) (4.0) (9.8) (23.0) 160.7 40.0 200.7 Jun 26 Cash Bal Cobar Region Ops cash flow Growth Capital Exploration Corp, Tax Interest & Other Working Capital Sep 26 Cash Bal Undrawn RCF Total Liquidity
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SEPTEMBER 2026 QUARTERLY | 28 OCTOBER 2026 | PAGE 11 Deliver safe, predictable operating performance Embed asset management fundamentals Execute growth projects, build operational readiness KEY FOCUS AREAS Continue advancing orebody knowledge Attract, develop and retain a high - performing team Drive productivity and cost improvement initiatives
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CONTACT T: +61 7 3180 5000 E: office@aureliametals.com.au Level 10, 10 Felix Street BRISBANE QLD 4000 GPO Box 7 BRISBANE QLD 4001 aureliametals.com