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PRESS RELEASE RIC² RIO2 REPORTS Q2 2026 FINANCIAL AND OPERATING RESULTS AND WEBINAR For Immediate Release August 13 , 2026 VANCOUVER , BC - Rio2 Limited ( “ Rio2 ” or “ the Company ” ) ( TSX : RIO ; OTCQX : RIOFF ; BVL : RIO ) reports financial results for the three months ended June 30 , 2026 , including operational updates for the Fenix Gold Mine ( " Fenix Gold " ) and the Condestable Copper Mine ( " Condestable " ) . Rio2's consolidated production for the quarter totaled 13,539 ounces of gold , 75,437 ounces of silver , and 9,296,883 pounds of copper . All financial information in this press release is reported in U.S. dollars unless otherwise indicated . Andrew Cox , President and Chief Executive Officer of Rio2 , stated : " Q2 2026 was the second quarter of ramp- up for Rio2 at Fenix Gold , supported by steady production and cash flows from Condestable . At Fenix Gold , operational performance continued to improve during the quarter with more work areas opened , more people employed and the arrival of the principal mining contractor's mining equipment , all of which we anticipate will make a meaningful impact to productivities and costs during Q3 . As expected , production numbers improved over Q1 and the mine plan has been adjusted to recover production that was not previously achieved . Unusually cold temperatures and snowfall in Q2 presented challenges for the onsite team , but it was a good lead - in to the coming winter months . At Condestable , operations continued to deliver to plan . The integration process continues to advance well and is expected to be complete in early Q4 . " Alex Black , Executive Chairman of Rio2 , stated : " Peru and Chile are currently in the midst of one of the strongest El Niños ever recorded . This weather event began to impact gold production at the Fenix Gold mine late in Q2 with significant localized snowstorms accompanied by extremely low temperatures , which continued into July and August . Our priority during these storms has been the safety of our people . Mining operations were halted when necessary , and we are evaluating the impact of these events to gold production and the ramp - up . The operations team at Fenix Gold is doing a great job handling the weather challenges , maintaining pad leaching , continuing operation of the processing plant , and systematically addressing key ramp - up constraints . Condestable , on the other hand , is not experiencing the same weather impacts due to its close proximity to the coast and its low - altitude location . " Operational and financial results for the Condestable Mine in this press release are presented for the period of January 30 , 2026 ( acquisition date ) to June 30 , 2026 . SECOND QUARTER 2026 HIGHLIGHTS • • • Fenix Gold ramp - up is progressing well with key start - up constraints identified and being addressed , improved production numbers from mining an expanding work area , reduction of staff turnover , and the introduction of the larger - capacity mining fleet nearing completion . Rio2 is on track to achieve commercial production in Q4 2026 . Condestable continued to perform to expectations , providing solid free cash flows from copper , gold and silver production . Evaluations of both grade enhancement through ore sorting and an expansion of the plant to 10ktpd are ongoing . Rio2 continues to expect to receive approval for the modifications to the mine EIA during Q3 to expand operations . Earnings before interest , tax , depreciation and amortization ( “ EBITDA ” ) ¹ of $ 76.2 million for the three months ended June 30 , 2026. Adjusted EBITDA¹ of $ 46.5 million for the three months ended June 30 , 2026 .