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A fully-permitted Tier-1 nickel project moving towards financing and construction | September 2026 Delivering the world’s next major nickel sulphide mine
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2 Disclaimer ► This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. ► To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. ► This presentation includes certain forward-looking statements. Forward looking statements include indications of, and guidance or outlook on, future earnings or financial position or performance, including forecast financial information derived from a production target. Forward-looking statements are predictions and are subject to risks, uncertainties and assumptions which are outside the control of Centaurus Metals. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place undue reliance on forward looking statements. Any forward-looking statements in this presentation speak only as of the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Centaurus Metals does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. ► This presentation contains information extracted from the following ASX market announcements made by the Company; ► Strong International Financier Interest for Jaguar Funding – 13 April 2026 ► Brazil National Development Bank (BNDES) Non-Binding Letter of Intent – 23 March 2026 ► Maiden Nickel Offtake Agreement – 16 March 2026 ► Jambreiro Pilot Plant Testwork – 16 February 2026 ► Boi Novo Exploration Results - 5 June 2025, 30 June 2025, 6 May 2026 ► Jaguar Ore Reserve Estimate & Value Engineering Process - 8 May 2025 ► Skarn’s Jaguar Project GHG Emission Assessment - 8 May 2025 ► Jaguar Project Mineral Resource Estimate - 5 August 2024 ► Jambreiro Project testwork results -10 April 2024 ► Jambreiro Ore Reserves & PFS Cost Detail Results - 5 July 2019 ► Jambreiro Mineral Resource Estimate - 30 July 2014 ► The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements noted above, and in the case of exploration results, estimates of Mineral Resources and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person’s findings were presented have not been materially modified from the original announcements. ► The information in this presentation that relates to Exploration Targets is based on information compiled by Mr Roger Fitzhardinge who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Fitzhardinge is a permanent employee and shareholder of Centaurus Metals Limited. Mr Fitzhardinge has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Fitzhardinge consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. ► Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature. There has been insufficient exploration to date to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. ► The image appearing on the cover page of this presentation was created using artificial intelligence (AI) tools. It is intended for illustrative purposes only and should not be relied upon as a factual representation of the Company's operations, assets or activities.
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3 Investment Highlights Delivering the world’s next major nickel sulphide mine Targeting funding and a Final Investment Decision by end Q3 CY2026 Tier-1 Asset 1.2Mt contained nickel Long-life open pit operation – initial 15-year life First quartile operating costs and strong margins Development-Ready Mining Lease granted Environmental approvals secured National power grid connection approved Financing Momentum 5-year Glencore offtake. Multiple debt proposals - up to US$320M Further offtake targeting strategic equity Outstanding Project Credentials Strong leverage to Nickel market recovery Low-carbon product with strong ESG credentials Mine life extension optionality from underground
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4 Progress Checklist Jaguar is now entering the financing and execution phase Discovery Resource DFS Mining Lease Environmental Approval Power Offtake Debt Process FID Construction Production August 2025 Timeline$23m capital raising to propel Jaguar towards financing and development October 2025 Jaguar Nickel Project Mining Lease granted October 2025 Acquisition of Rio Novo Copper Project March 2026 Maiden US$450m, 5-year nickel offtake agreement secured with Glencore March 2026 LOI received for US$190m in funding from Brazil’s National Development Bank March 2026 Experienced Project Director appointed April 2026 Multiple non-binding term sheets received from international financiers – up to US$320M June 2026 Para State Tax Incentives granted June 2026 National Power Grid access approved
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5 Brazil – Highly Favourable Mining Jurisdiction Active Government support for Critical Minerals ROAD MAP TO MINING Well-established mining regulation and tenement system with Jaguar Mining Lease granted MINING CULTURE Well-established mining region with skilled workforce and infrastructure ROYALTIES TO THE REGIONS Royalties split between the municipal (65%), State and Federal authorities TAX INCENTIVES 15% effective tax rate under SUDAM Program plus State-based tax incentives granted GOVERNMENT SUPPORT Strong support from Brazil Government for critical minerals RENEWABLE POWER 80% of Brazil’s power currently generated from renewable sources
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6 Brazil’s Carajás Mineral Province A world-class global mining province – “land of the giants” The Carajás contains one of the world’s largest known concentrations of large-tonnage world-class mineral deposits
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7 Board and Capital Structure (ASX:CTM, OTCQX: CTTZF) An experienced leadership team, clean corporate structure and strong balance sheet with a clear pathway to value growth as project development advances. Didier Murcia, AM Chair Lawyer Dr Natalia Streltsova Non-Executive Director Chemical Engineer Darren Gordon Managing Director Chartered Accountant Mark Hancock Non-Executive Director Chartered Accountant Chris Banasik Non-Executive Director Geologist Bruno Scarpelli Executive Director Engineer Broker CoverageRecent Key Appointment Highly Experienced Board Thiago Costa Project Director Mechanical Engineer 574m Shares on issue 33.1m Unlisted options 73% Top-20 holders A$298m Market cap at A$0.52 A$17.5m Cash (30/6/26)
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8 Jaguar Nickel Project – Key Project Highlights Large-scale, long-life project moving to FID One of the world’s largest undeveloped nickel projects, in a Tier-1 Brazilian mining jurisdiction 1.2Mt Nickel (Contained) US$735M NPV (Post Tax basis, US$9/lb Ni Price) 34% IRR (Post Tax basis, US$9/lb Ni Price) 22.6ktpa Ni production (Avg production first 7 years) 15-year life First quartile costs Low-carbon nickel
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9 Jaguar – A World-Class Nickel Deposit Tier-1 Resource with further exceptional growth potential JORC MRE: 138.2Mt @ 0.87% Ni for 1.20 million tonnes of contained nickel Refer to slide 21 for underlying data references
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10 Jaguar – Upside and Growth Opportunities Improvement opportunities to be pursued after FID ► Resources of 21.5Mt at 1.46% Ni for 313kt of contained nickel metal below the current pits ► Of this, 15.5Mt at 1.50% Ni for 233kt of contained nickel is classified as Measured and Indicated categories ► Integrated schedule with open pit mining required to determine underground development timing ► Potential for significant mine life extension beyond the open pit operations
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11 Jaguar – Mining Operations Globally significant project delivering 22.6ktpa of Ni over first 7 years ► Low capital intensity, with pre-production CAPEX of US$380 million ► JORC Reserve – 52.0Mt @ 0.78% Ni for 406,100t Ni metal ► Open pit mining by local mining contractor; Tailings facilities built from mine waste production ► 3.5Mtpa conventional nickel sulphide flotation plant – 18.7ktpa average LOM nickel production
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12 Jaguar – Financial Metrics Strong free cash flow of US$169m pa (A$264m) over first seven years US$1.62b Total Free Cash Flow Capital Payback 1.8 years US$3.34/lb LOM C1 Cash Costs (payable basis) US$4.43/lb LOM AISC (payable basis) * Project cash flows at US$9/lb *
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13 Jaguar – Positioned for a Nickel Price Recovery LME Nickel Price Jaguar Acquired Centaurus hasn’t been waiting for the cycle to turn – it has continued to significantly de-risk Jaguar ahead of a potential nickel market recovery
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14 Jaguar – Offtake and Financing Process Gaining Momentum Initial Binding Offtake Agreement Secured ► Maiden nickel Offtake Agreement secured with Glencore AG ► Covers supply of 20,000tpa of high-grade nickel concentrate (~6,400 tpa of nickel in concentrate) ► Average one-third of Jaguar’s forecast production capacity. Balance available for further offtakers. ► Initial Glencore contract is for 5 years – estimated value of US$450 million Offtake Strategic Equity ► Strategic Equity process ongoing supported by Standard Chartered Bank ► Jaguar seen as a highly strategic source of cost competitive, low carbon and non-Indonesian nickel supply ► Future offtakes targeted to be supported with strategic equity ► Range of potential transaction structures under consideration Debt Funding ► Debt funding process progressing well, supported by the Company’s debt advisor, Orimco ► Ten Non-Binding Indicative Offers for debt funding now received for up to US$320 million with multiple proposals over US$250 million ► Proposals include Non-Binding Letter of Intent received from Brazilian National Development Bank (BNDES) for debt funding of R$1 billion (US$190 Million)
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15 Jaguar – Pre-Development Activities Accelerating Activities accelerating on multiple fronts ahead of FID ENGINEERING ► Basic Engineering completed. Detailed design underway on multiple fronts INFRASTRUCTURE ► Initial road improvement and site establishment work underway POWER CONNECTION ► High-voltage national power grid connection approved KEY CONSTRUCTION PERSONNEL ► Highly experienced Project Director appointed
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16 Emerging copper- gold discovery in the Carajás Boi Novo Copper-Gold Project
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17 Boi Novo Project – Copper-Gold Exploration The Carajás is the world’s premier IOCG address 5.5m at 8.38% Cu and 0.18g/t Au from 147.0m ► 75 km2 Project footprint recently expanded with acquisition of Rio Novo tenure ► Drilling at Boi Novo intersected semi-massive sulphide zones, intersections include: ► 36.7m at 1.58% Cu and 0.05g/t Au ► 5.5m at 8.38% Cu and 0.18g/t Au ► 11.5m at 2.84% Cu and 0.90g/t Au ► 24.5m at 0.96% Cu and 0.11g/t Au ► 6.8m at 1.89% Cu and 1.08g/t Au ► Multiple copper-gold exploration opportunities with a high- grade focus and bulk tonnage low-medium grade optionality ► Copper flotation testwork delivers a high quality (+25%) copper concentrate at ~95% recovery including 1.3g/t gold ► Rio Novo initial soil sampling has identified multiple large copper- in-soil anomalies extending up to 2km in strike – ongoing soils, FLEM and Drone Magnetics Drilling planned to start Q4 2026
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18 Key Investment Takeaways • Tier-1 scale - 1.2Mt contained nickel MRE, long-life open-pit operation. • Development-ready - fully permitted, power secured and site establishment underway. • Low-cost - First-quartile costs; 1.8-year payback and strong free cash flows • Funding is the Near-Term Catalyst - Glencore offtake secured, debt proposals up to US$320m received and FID imminent • Significant Growth Opportunities - leverage to nickel price recovery, underground expansion potential and emerging Boi Novo copper-gold upside
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Roger Fitzhardinge General Manager – Exploration & Growth A fully-permitted Tier-1 nickel project moving towards financing and construction Delivering the world’s next major nickel sulphide mine : +61 8 6424 8420 : office@centaurus.com.au : Centaurus Metals : @CentaurusMetals
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20 Jaguar Nickel Sulphide Project August 2024 Mineral Resource Estimate & May 2025 Ore Reserve Estimate * Within pit limits cut-off grade 0.3% Ni; below pit limits cut-off grade 0.7% Ni; Totals are rounded to reflect acceptable precision; subtotals may not reflect global totals. All oxide material is considered as waste and therefore not reported as Resources. Mineral Resources are reported inclusive of Ore Reserves. The rounding in the above tables is an attempt to represent levels of precision implied in the estimation process and apparent errors in summation may result from the rounding. Ore Reserve has been reported at a 0.4% nickel cut-off grade Classification* Grade Contained Metal (Tonnes) Mt Ni % Cu % Co ppm Ni Cu Co Measured 14.8 1.06 0.07 388 156,100 10,200 5,900 Indicated 97.8 0.84 0.06 246 822,800 61,100 24,000 Measured & Indicated 112.6 0.87 0.06 266 978,900 71,300 29,900 Inferred 25.7 0.88 0.09 257 225,500 22,900 6,700 Total 138.2 0.87 0.07 262 1,204,400 94,200 36,600 Deposit Classification Ore Tonnes Ore Grades Contained Metal Mt Ni % Cu % Co ppm Ni (t) Cu (t) Co (t) Jaguar Deposits Proved 6.9 0.86 0.05 252 59,500 3,700 1,700 Probable 42.1 0.75 0.06 207 313,600 24,800 8,700 Total 49.0 0.76 0.06 214 373,100 28,600 10,500 Onca Preta Proved 2.9 1.10 0.09 623 32,000 2,500 1,800 Probable 0.1 0.82 0.08 367 1,000 100 0 Total 3.0 1.09 0.08 612 33,000 2,600 1,900 Jaguar Nickel Project Proved 9.8 0.93 0.06 362 91,500 6,200 3,600 Probable 42.2 0.75 0.06 208 314,600 24,900 8,800 Total 52.0 0.78 0.06 237 406,100 31,200 12,300
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21 Centaurus Data and references for comparison of pre-mined resources of global nickel sulphide Deposits and Camps Source: MinEx Consulting © August 2024, based on the latest available published data from the various mine owners. Notes: The quoted resources shown in the graph are “Pre-Mined Resources”; Pre-Mined Resources refers to Current Resource plus Historic Production (adjusted, where possible for processing losses); Current Resource refer to Measured + Indicated + Inferred Resources. Current Resource are inclusive of any reported Proven & Probable (P&P) Reserves where appropriate. Of the listed camps/deposits Kabanga and Jaguar are the only projects that have resources that are yet to be mined. Camps are a collection of deposits sharing a common proximal location and geology - and they usually share a common processing facility. When a set of mines is owned by a single company, the reported endowment often refers to the entire camp. a) The Norilsk and Talnakh deposits are now treated as separate camps - the Norilsk name remains associated with the Talnakh deposits as it is the historical name and more recognisable to the market; b) The Talnakh and Norislsk 1 figures are for the combined M&I Resource. NorNickel does not report Measured and Indicated (M&I) Resources on a separate basis and Resources are not JORC compliant; c) Jinchuan Group does not report any official Resource figures for Jinchuan. For completeness MinEX have set the Measured Resource to match the most recent published Reserve, these are not JORC compliant; d) The P&P Reserves have been allocated across both the Measured and indicated Resource figures; e) The Measured Resource includes 31.1 Mt @ 1.791% Ni of P&P Reserves; f) MinEX have assigned all of the P&P Reserves to the published Measured Resource; g) In October 2022 Mincor Resources announced that the LN04a deposit contained a P&P Reserve of 0.136 Mt @ 3.6% Ni. The associated Resource is allocated to the Resource figures for Long and Durkin North deposits; h) Cumulative historical production are estimates by MinEx Consulting based on available published data from various sources (in the first instance the operating company itself); i) Companies with resources within the Sudbury Camp include: Vale, Glencore, KGHM, Magma Mining, SPC Nickel Corp and First Nickel; j) Companies with resources within the Thompson Belt Camp include: Vale, Blackstone, CaNickel Mining and Mistango River Resources; k) Companies with resources within the Kambalda Camp include : Lunnon Metals, Wyloo Pty Ltd, Cherish Metals, Westgold Resources, Develop Global Ltd and Lefroy Exploration. Historic Prodn (h) Camp / Deposit Country Company Stage Resource Date Measured (f) Indicated Inferred Total Mt Ni in-situ Mt Ore % Ni Mt Ni Metal Norilsk - Talnakh Camp (a) Russia Nornickel Operating 01-Jan-24 na 11.4 (b) 5.1 16.6 10.5 2,673 1.01 27.1 Sudbury Camp Canada Mutiple Companies (i) Operating 31-Dec-23 1.2 1.3 1.0 3.5 11.6 1,157 1.30 15.1 Jinchuan Deposit China Jinchuan Group Operating 21-Dec-09 5.5 (c) na na 5.5 1.4 641 1.08 6.9 Thompson Belt Camp Canada Mutiple Companies (j) Operating 31-Dec-23 0.2 0.6 0.4 1.1 2.8 236 1.69 4.0 Leinster Camp Australia BHP Operating 30-Jun-20 0.4 0.8 0.6 1.8 1.4 265 1.22 3.2 Raglan Camp Canada Glencore Operating 31-Dec-23 0.2 (d) 0.5 (d) 0.5 1.1 0.8 66 3.04 2.0 Voiseys Deposit Canada Vale Operating 31-Dec-23 0.57 (e) 0.01 0.14 0.7 1.0 77 2.25 1.7 Kambalda Camp Australia Mutiple Companies (k) Care & Maintenance Circa 2023 0.01 (g) 0.26 0.14 0.4 1.5 66 2.92 1.9 Kabanga Deposit Tanzania Lifezone & BHP Feasibility 30-Nov-23 0.3 0.6 0.4 1.3 0.0 61 2.08 1.3 Jaguar Deposit Brazil Centaurus Metals Feasibility 5-Aug-24 0.2 0.8 0.2 1.2 0.0 138 0.87 1.2 Pre-Mined Resource MI&ICurrent Resource MI&I - Ni Metal