Slides
Page 1
Producer Today, Growth Tomorrow IMARC Presentation October 2026 Bob Fulker Chief Executive Officer & Managing Director ASX : KAN
Page 2
Disclaimer To the maximum extent permitted by law, neither Kantra nor its related corporations, directors, officers, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. Kantra is under no obligation to release any updates or revisions to this presentation to reflect any change in expectation or assumptions and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for fraud or negligence). Nothing contained in this Document constitutes investment, legal, tax or other advice. The information in this Document does not take into account the investment objectives, financial situation or particular needs of any recipient. Before making an investment decision, each recipient of this Document should make its own assessment and take independent professional advice in relation to this Document and any action taken on the basis of this Document. All currency referred to is Australian dollars ($) unless otherwise indicated (e.g. US$). Forward Looking Statement This presentation contains or may contain certain forward-looking statements and comments about future events, that are based on Kantra's beliefs, assumptions and expectations and on information currently available to management as at the date of this presentation. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "plan", "believes", "estimate", "anticipate", "outlook", and "guidance", or similar expressions, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production and production potential, financial forecasts, product quality estimates of future Mineral Resources and Ore Reserves. Such statements are only expectations or beliefs and are subject to inherent risks and uncertainties which could cause actual values, results or performance achievements to differ materially from those expressed or implied in this announcement. Where Kantra expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and on a reasonable basis. No representation or warranty, express or implied, is made by Kantra that the matters stated in this presentation will in fact be achieved or prove to be correct. Except as required by law, Kantra undertakes no obligation to provide any additional or updated information or update any forward-looking statements whether as a result of new information, future events, results or otherwise. Readers are cautioned against placing undue reliance on forward-looking statements. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Kantra, the directors, and management of Kantra. These factors include, but are not limited to difficulties in forecasting expected production quantities, the potential that any of Kantra's projects may experience technical, geological, metallurgical and mechanical problems, changes in market prices and other risks not anticipated by Kantra, changes in exchange rate assumptions, changes in product pricing assumptions, major changes in mine plans and/or resources, changes in equipment life or capability, emergence of previously underestimated technical challenges, increased costs, and demand for production inputs. Competent Persons Statement As an Australian company with securities listed on the Australian Securities Exchange (ASX), Kantra is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of ore reserves and mineral resources in Australia comply with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). The information in this presentation that relates to the 2026 Kanmantoo Mineral Resource Estimate is extracted from ASX release titled ‘Kanmantoo delivers 31% Ore Reserve Growth’ dated 27 October 2026 and is available to view at www.kantra.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate and Ore Reserve in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this presentation that relates to the 2025 Kanmantoo Mineral Resource Estimate and the 2025 Ore Reserve is extracted from ASX release titled ‘Hillgrove Resources Delivers Ore Reserve Extension at 1.0%CuEq’ dated 30 October 2025 and is available to view at www.kantra.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate and Ore Reserve in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this presentation that relates to the 2024 Kanmantoo Mineral Resource Estimate is extracted from ASX release titled ‘Maiden Kanmantoo Underground Ore Reserve And 96% Increase In Copper Mineral Resource Endowment’ dated 18 October 2024 and is available to view at www.kantra.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate and Ore Reserve in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this presentation that relates to the Coburn Mineral Resource is extracted from two ASX releases. The first titled ‘Mutooroo Copper-Cobalt Deposit Resource Statement’ dated 18 October 2010, and the second titled ‘New Mutooroo Cobalt Resource’ dated 5 June 2020. Both announcements are available to view at www.asx.com.au and at https://www.havilah-resources.com.au/. Havilah Resources confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the relevant market announcement continue to apply and have not materially changed. Havilah Resources confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this presentation that relates to the Coburn metallurgical test work is extracted from ASX release titled ‘Mutooroo Renamed Coburn, Metallurgical Test Work Derisks PFS’ dated 7 October 2026 and is available to view at www.kantra.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate and Ore Reserve in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. 2 Important Notice and Disclaimer
Page 3
3 With strong development & exploration pipelines An Australian Copper Producer Derek Carter Non-Exec. Chair Bob Fulker CEO & Managing Director Murray Boyte Non-Exec. Director Roger Higgins Non-Exec. Director Luke Anderson CFO & Co. Sec. Note: Currency is in Australian dollars unless otherwise stated 1. Closing share price on 23 October 2026. 2. Cash balance as at 30 September 2026. 3. Refer to Results for Half Year Ended 30 June 2026 released on 20 August 2026. 4. Register analysis is based on a point-in-time snapshot dated 18 September 2026 and may not reflect later trading activity. 13.9% BOARD & MANAGEMENT Share price1 $1.010 Shares on issue1 237 M Market capitalisation $239 M Debt Nil Cash2 $44 M Enterprise value $195 M Options on issue 9.7 M Income tax losses (est. & unaudited) $260 M Franking credits3 $18 M ASX:KAN SUBSTANTIAL SHAREHOLDER4 SHARE DISTRIBUTION4 13.9% 28.3% 3.3% 1.0% 53.5% Freepoint Institutions excl Freepoint Havilah Resources Board & management Others 3 Coburn
Page 4
4 Building the Next Mid-Tier Copper Company Producer Today Growth Tomorrow Growth Opportunities ▪ Development pipeline: progress Coburn Pre-Feasibility Study (PFS) ▪ Regional exploration pipeline ▪ Inorganic growth opportunities as they arise Mine Life & Throughput Upsides ▪ Kanmantoo mine life extension through Resources and Reserve Growth ▪ Focusing on 2+Mtpa pathway (currently at ~1.8Mtpa) Our Strategy Our Performance H1 5,545 H1 6,290 H2 5,770 Sep Q 3,419 2025 2026 Cu Production kt Guidance: 12,750 – 14,000 6.19 5.78 2025 YTD 2026 AISC $/lb payable Cu Sold Guidance: 5.75 – 6.25 20.6 25.2 32.2 44.1 Dec Q 2025 Mar Q 2026 Jun Q 2026 Sep Q 2026 Cash $Million
Page 5
5 Our Growth Platform in South Australia Kanmantoo Copper Mine (100% owned) >95% Local Workforce TSF Plant Crusher ROM Backfilled Emily Star Pit UG Workshop Railway 55km From Adelaide Strong Support By Local Communities Railway On Premise Giant Pit Grid Power 3.6 Mtpa Processing Plant 1.8 Mtpa UG Run Rate ~95% Cu Recovery >70% Renewable Grid power 6.0 Mt TSF Capacity 2 Active Mining Fronts 700m/mth Development 3rd Mining Front Under Development Our Operation Complemented by its location New Portal
Page 6
19,300 22,000 27,000 2024 2025 2026 Mineral Resources (kt) 22% Resource Growth Underpins Mine Life Extension +14% +22% 2,800 4,000 5,200 2024 2025 2026 Ore Reserves (kt) Kavanagh Nugent Emily Star Other +43% +31% 6 Extracted from ASX release titled ‘Kanmantoo delivers 31% Ore Reserve Growth’ dated 27 October 2026, ‘Hillgrove Resources Delivers Ore Reserve Extension at 1.0%CuEq’ dated 30 October 2025 and ‘Maiden Kanmantoo Underground Ore Reserve And 96% Increase In Copper Mineral Resource Endowment’ dated 18 October 2024
Page 7
7 Coburn Growth Opportunity (formerly Mutooroo) Metallurgy Derisked, Logistics Assessment & Drilling Underway Logistics Assessment Underway Results expected in December 2026 Quarter OCTOBER 2026 - Metallurgy Substantially Derisked >90% Cu recovery >50% Au recovery OCTOBER 2026 - Project name changed from Mutooroo to Coburn Phonetic spelling of nearby township Cockburn to create a distinctive and readily recognisable project identity MAY 2026 - Entered into Farm-in Agreement with Havilah Resources Potential pathway to beyond 20ktpa Cu Coburn Coburn Coburn Coburn
Page 8
8 Why Kantra? ✓ Producing Cu today ✓ In Tier 1 Mining Jurisdiction of South Australia ✓ Growing the Kanmantoo Resource base ✓ Advancing Coburn development opportunity ✓ Leveraging existing infrastructure for capital efficient growth ✓ Supplemented by district-scale exploration pipeline Our advantages … further amplified by ✓ Forecast structural Cu supply deficit ✓ Strong long-term Cu demand fundamentals ✓ Highly supportive and growing institutional shareholder base Blue Tree – Our Commitment to Mental Health Awareness
Page 9
To receive up-to-date company information, scan the QR code to join our Investor Hub Kantra Copper Limited 5-7 King William Road Unley SA 5041 info@kantra.com www.kantra.com Bob Fulker CEO & Managing Director +61 (0)8 7070 1698 Luke Anderson CFO & Joint Company Secretary +61 (0)8 7070 1698 Jane Brunton Head of Investor Relations & Growth +61 (0)8 7070 1698 Contact Thank you
Page 10
10 As at 01 July 2026 Appendix - Kanmantoo Ore Reserves Mine Area Classification Tonnes (kt) Cu (%) Au (g/t) Ag (g/t) CuEq (%) Cu Metal (kt) Au Metal (koz) Kavanagh (including Spitfire and North Kavanagh) Proved 1,800 0.90 0.12 2.3 1 16 7.0 Probable 1,000 0.80 0.13 2.3 0.9 8.2 4.3 Sub-Total 2,800 0.87 0.13 2.3 1 24 11 Nugent Proved 630 0.79 0.39 1.9 1 5.0 7.9 Probable 1,000 0.77 0.32 2.0 1 7.7 10 Sub-Total 1,600 0.78 0.35 1.9 1 13 18 Emily Star Proved 87 0.99 0.09 1.9 1 0.9 0.3 Probable 660 0.90 0.13 2.2 1 5.9 2.7 Sub-Total 740 0.91 0.12 2.2 1 6.8 3.0 Total Ore Reserves Proved 2,500 0.88 0.19 2.2 1 22 15 Probable 2,700 0.81 0.20 2.2 0.9 22 17 Total 5,200 0.85 0.20 2.2 1 44 33 Notes: 1. Dry metric tonnes. 2. Stope cut-off grade 0.8% CuEq (Copper Equivalent) to define development limits, 0.6% CuEq for stopes along defined development. Development cut-off grade 0.4% Copper. Minimum stoping widths of 4m true width. 3. Reported Ore Reserves do not include any diluting Inferred, Unclassified or Sterilised material. The Mine Schedule includes 499kt at 0.35% Cu of non-Reserving material that is mined as unavoidable dilution or is a sterilisation shell around extracted stopes. 4. Reported grades are rounded to two significant figures. Tonnes are rounded to two significant figures. Copper equivalent to one significant figure as for reporting recoveries and payabilities are averaged values and so have a lower accuracy. 5. Any minor apparent discrepancies for sums in the table are due to rounding. 6. The period of economic extraction is from July 2026 to December 2029. 7. Ore Reserves are converted from Mineral Resources based on 2026 Mineral Resources, reported herewith. 8. Competent Person: Huw Wright MAusIMM (#3078867) with technical review by Mark Hamilton FAusIMM (#221080). 9. Over 30 months of mining actual data demonstrates very good ground conditions. It is expected that this will continue, with Geotech modelling demonstrating stability over modelled life of mine. Copper equivalent includes copper and gold. The calculation expresses recovered and payable gold value as an equivalent in-situ copper grade. Driving values are Cu = US$4.20/lb, Au = US$3,250/oz; metallurgical recoveries are Cu Rec = 95.8%, Au Rec = 54.9%; and payabilities are Cu Pay 95%, Au Pay 90%. CuEq (%) = Cu (%) + 100 × [(Au (g/t) ÷ 31.1034 × Au Rec × Au Pay × Au price)] ÷ [Cu price (US$/t) × Cu Rec × Cu Pay]. It is Kantra’s view that all metals within this formula will be recovered and sold. Metallurgical recoveries are based on current plant performance. Metal payability is based on current concentrate quality and contracted marketing terms.
Page 11
11 As at 30 September 2026 Appendix - Kanmantoo Mineral Resources Mine Area JORC Classification Tonnage (kt) Cu (%) Au (g/t) Ag (g/t) Cu Metal (kt) Au Metal (koz) Kavanagh (including Spitfire) Measured 4,600 0.76 0.11 2.2 35 17 Indicated 2,200 0.70 0.11 2.1 16 7.7 Inferred 1 5,200 0.64 0.13 1.9 33 22 Sub-Total 12,000 0.7 0.12 2.1 84 47 North Kavanagh Measured - - - - - - Indicated 280 0.73 0.16 2.8 2.1 1.5 Inferred 2 240 0.67 0.19 2.4 1.6 1.5 Sub-Total 520 0.70 0.18 2.6 3.7 3.0 Nugent Measured 970 0.76 0.39 1.9 7.3 12 Indicated 2,300 0.75 0.35 2.1 17 25 Inferred 3 3,900 0.78 0.35 2.0 30 44 Sub-Total 7,100 0.76 0.35 2.0 55 81 Valentines Measured - - - - - - Indicated 190 0.65 0.07 1.3 1.2 0.41 Inferred 4 190 0.52 0.06 1.1 1.0 0.40 Sub-Total 380 0.58 0.07 1.2 2.2 0.81 Emily Star Measured 140 0.96 0.09 1.8 1.3 0.38 Indicated 2,000 0.74 0.09 1.7 15 5.9 Inferred5 3,900 0.67 0.07 1.4 26 9.1 Sub-Total 6,000 0.70 0.08 1.5 42 15 Critchley Measured 8.4 0.60 0.06 0.8 0.05 0.02 Indicated 380 0.54 0.10 1.2 2.1 1.2 Inferred 140 0.48 0.06 1.2 0.66 0.25 Sub-Total 520 0.53 0.09 1.2 2.8 1.5 TOTAL 27,000 0.71 0.17 1.9 190 150 Notes: 1. Due to effects of rounding, total numbers may not sum. 2. Inferred 1 – includes Kavanagh high grade Inferred; Central Kavanagh, North Kavanagh and Valentines Categorical Indicator Kriging (CIK) Inferred. 3. Inferred 2 – includes North Kavanagh high grade Inferred only. 4. Inferred 3 – includes Nugent high grade and CIK Inferred. 5. Inferred 4 – includes Valentines high grade Inferred only. 6. Inferred 5 – includes Emily Star high grade and CIK Inferred. 7. Reporting criteria are: Measured, Indicated and Inferred material (RESCAT = 1 or RESCAT = 2 or RESCAT = 3), Cu >= 0.40% (CU_PCT >= 0.4), in-situ (VOIZONE = 0) with reasonable prospects of eventual economic extraction envelope (MREZONE = 1), Reasonable Prospects for Eventual Economic Extraction (RPEEE=1). 8. Tonnage and metal are rounded to the nearest 1,000 tonnes, grades are rounded to two significant figures. 9. Mineral Resource is reported at a 0.40% Cu cut-off grade for all mine areas. 10. Mineral Resource is depleted for mining to 30 June 2026. 11. Mine depletion refers to the current Kanmantoo underground operation, and historical Giant, Nugent and Emily Star open pits.
Page 12
12 Appendix - Coburn Mineral Resources Classification Resource Category Tonnes Copper (%) Cobalt (%) Gold (g/t) Copper (t) Cobalt (t) Gold (oz) Measured Oxide 598,000 0.56 0.04 0.08 Subtotal Oxide 598,000 0.56 0.04 0.08 3,300 200 1,500 Measured Sulphide 4,149,000 1.23 0.14 0.18 Indicated Sulphide 1,697,000 1.52 0.14 0.35 Inferred Sulphide 6,683,000 1.71 0.17 0.17 Subtotal Sulphide 12,529,000 1.53 0.16 0.20 191,700 20,000 80,600 TOTAL 13,127,000 195,000 20,200 82,100 Notes: All figures in this table are rounded. The information is extracted from Mineral Resource Estimate stated in the Havilah Resources Limited Annual Report for the financial year ended 31 July 2025, first released in the Havilah ASX media release titled ‘Mutooroo Copper-Cobalt Deposit Resource Statement’, dated 18 October 2010, and ‘New Mutooroo Cobalt Resource’, dated 5 June 2020. The information that relates to the Coburn Mineral Resource is extracted from two ASX releases. The first titled ‘Mutooroo Copper-Cobalt Deposit Resource Statement’ dated 18 October 2010, and the second titled ‘New Mutooroo Cobalt Resource’ dated 5 June 2020. Both announcements are available to view at www.asx.com.au and at https://www.havilah-resources.com.au. 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 and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.