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Investor Update - Warintza PFS November 2025
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2 Forward-Looking and Cautionary Statements This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the continuous disclosure documents of Solaris Resources Inc. (“Solaris” or the “Company”). No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed on the merits of this presentation and no representation or warranty is made by Solaris to that effect. The information in this presentation is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Solaris and should not be used for the purpose of making investment decisions concerning securities of Solaris. All amounts expressed in Canadian dollars unless otherwise stipulated. Forward-looking Statements This presentation includes certain statements that constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements. These statements appear in a number of places in this presentation and include statements made with respect to anticipated exploration and development activities. When used in this presentation, words such as "intends", "expects", "will be", "underway", "targeted", "planned", "objective", "expected", "potential", "continue", "estimated", "would", "subject to" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements in this presentation include, but are not limited to: the Company’s anticipated exploration and business plans; timing and completion of future activities of Solaris; expected life of mine; use of capital; the impacts and benefits of the Warintza Project; the timing and amount of estimated future production, if any; achievement of certain metrics compared to the Company’s peer group; future updates to the mineral resource and mineral reserve estimates of the Warintza Project; the completion of resource drilling; all prospective information in the pre-feasibility study, licensing and permitting at the Warintza Project; the technical approval of an Environmental Impact Assessment; the commencement of the Free, Prior and Informed Consultation process and the outcome thereof; the Company’s entrance into an exploitation agreement; and fluctuations in copper prices, supply and demand. Estimates of mineral reserves and mineral resources are also forward- looking statements because they incorporate estimates of future developments including future mineral prices, costs and expenses and the amount of minerals that will be encountered if a property is developed. Although Solaris believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks related to the business of the Company; global outbreaks and contagious diseases; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; adverse claims made by local communities; changes in commodity prices; unanticipated exploration and development challenges (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); adverse weather conditions; political risk and social unrest; changes in interest and currency exchange rates; and the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. These forward-looking statements were derived using numerous assumptions, including assumptions regarding general business and economic conditions; the Company’s ability to develop and maintain relationships with local communities (including the local Shuar Centres of Warints and Yawi); commodity prices; anticipated costs and expenditures; the Company’s ability to advance exploration efforts at the Warintza Project and its other projects; the receipt of any necessary permits, licenses, social licenses and regulatory approvals in connection with the future development of Solaris’ projects in a timely manner; the availability of financing on suitable terms for the development and continued operation of Solaris’ projects; Solaris’ ability to comply with environmental, health and safety laws; the assumptions underlying mineral resource and mineral reserve estimates and the realization of such estimates; and the results of exploration efforts. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward- looking statements. If we update any forward- looking statements, no inference should be drawn that we will make additional updates with respect to other forward-looking statements. All forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement. Technical Information The technical information contained in this document was approved by, or based upon disclosure prepared by Mr. Nicholas Szebor, EurGeol, CGeol, Director and Global Lead – Geosciences at AMC Consultants, who supervised and approved the Mineral Resource Estimate and Mr. Roderick Carlson, FAIG (RPGeo), MAusIMM, Technical Lead – Geosciences at AMC Consultants who is responsible for the exploration, drilling, sample preparation, and assays. The preparation of the Mineral Reserve Estimate and mining aspects of the PFS was supervised and approved by Mr. Eugene Tucker, P.Eng., Director and Global Lead – Open Pit Mining at AMC Consultants. The costs (excluding process plant and site services) and economics of the PFS were prepared under the supervision of Ms. Mary Alejo Hito, P.Eng., Principal Mining Engineer at AMC Consultants. The preparation of the metallurgy, processing, and site infrastructure aspects (excluding TMF, WRF, and water management) of the PFS was supervised by Mr. Greg Lane, FAusIMM, Principal Consultant at Ausenco. Mr. Guillermo Hernán Barreda Flores, SME Registered Member, Regional Manager at Knight Piésold, prepared the TMF, WRF, and site water management aspects of the PFS. Each of the aforementioned individuals are a "Qualified Person" as defined in National Instrument 43‐101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). This technical information contained in this presentation has been extracted from Solaris’ press release entitled “Solaris publishes positive pre-feasibility study results and maiden mineral reserve for the Warintza project, with significant mineral resource increase, an extensive mine life, and US$4.6bn NPV” dated 6th of November 2025, a copy of which is available on SEDAR+ under the Company’s profile at www.sedarplus.ca and EDGAR at www.sec.gov/edgar. The remaining technical information contained in this document has been reviewed and approved by Jorge Fierro, M.Sc., DIC, PG, Vice President Exploration of Solaris who is a “Qualified Person” as defined in NI 43-101. Jorge Fierro is a Registered Professional Geologist through the SME (registered member #4279075).
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3 Forward-Looking and Cautionary Statements Cautionary Note Regarding Non-IFRS Measures This presentation refers to various non-IFRS measures, such as “all-in sustaining costs” or “AISC”. These measures do not have any standardized meaning prescribed by the International Accounting Standards Board and are therefore unlikely to be comparable to similar measures presented by other companies. The non-IFRS measures are permitted by National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources The mineral resource and mineral reserve estimates described in this presentation have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These definitions differ from the definitions in requirements under United States securities laws adopted by the United States Securities and Exchange Commission (the “SEC”). Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre- feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. An “inferred mineral resource” is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that most inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Investors are cautioned not to assume that all or any part of mineral resources determined in accordance with NI 43-101 and CIM standards will qualify as, or be identical to, mineral resources estimated under the standards of the SEC applicable to U.S. companies. Accordingly, information contained in this presentation may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. Statutory Rights of Action Securities legislation in certain of the provinces of Canada may deem this presentation to be an offering memorandum and, accordingly, provide purchasers with statutory rights of rescission or damages, or both, in the event this presentation contains a misrepresentation. Where used herein, “misrepresentation” means an untrue statement of a material fact or an omission to state a material fact that is required to be stated or that is necessary to make any statement not misleading in light of the circumstances in which it was made. These remedies, or notice with respect to these remedies, must be exercised or delivered, as the case may be, by the purchaser within the time limits prescribed by applicable securities legislation. The following summary is subject to the express provisions of the applicable securities laws, regulations and rules, and reference is made thereto for the complete text of such provisions. Such provisions may contain limitations and statutory defenses not described herein on which the Company and other applicable parties may rely. Purchasers should refer to the applicable provisions of the securities legislation of their province for the particulars of these rights or consult with a legal adviser. The following is a summary of rights of rescission or damages, or both, generally available to purchasers resident in the provinces of Ontario, New Brunswick, Nova Scotia and Saskatchewan. If there is a misrepresentation herein and you are a purchaser under securities legislation in Ontario, New Brunswick, Nova Scotia and Saskatchewan you may have, without regard to whether you relied upon the misrepresentation, a statutory right of action for damages, or while still the owner of the securities, for rescission against the Company. This statutory right of action is subject to the following: (a) if you elect to exercise the right of action for rescission, you will have no right of action for damages against the Company; (b) except with respect to purchasers resident in Nova Scotia, no action shall be commenced to enforce a right of action for rescission after 180 days from the date of the transaction that gave rise to the cause of action; (c) no action shall be commenced to enforce a right of action for damages after the earlier of (i) 180 days (with respect to purchasers resident in Ontario) or one year (with respect to purchasers resident in Saskatchewan and New Brunswick) after you first had knowledge of the facts giving rise to the cause of action and (ii) three years (with respect to purchasers resident in Ontario) or six years (with respect to purchasers resident in Saskatchewan and New Brunswick) after the date of the transaction that gave rise to the cause of action; (d) with respect to purchasers resident in Nova Scotia, no action shall be commenced to enforce a right of action for rescission or damages after 120 days from the date on which payment for the securities was made by you; (e) the Company will not be liable if it proves that you purchased the securities with knowledge of the misrepresentation; (f) in the case of an action for damages, the Company will not be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities as a result of the misrepresentations; and (g) in no case will the amount recoverable in such action exceed the price at which the securities were sold to you. The foregoing is a summary only and is subject to the express provisions of the Securities Act (Ontario), the Securities Act (New Brunswick), the Securities Act (Nova Scotia) and the Securities Act (Saskatchewan), and the rules, regulations and other instruments thereunder, and reference is made to the complete text of such provisions contained therein. Such provisions may contain limitations and statutory defenses on which the Company may rely. Notwithstanding that the Securities Act (British Columbia), the Securities Act (Alberta), and the Securities Act (Québec) do not provide, or require the Company to provide, to purchasers resident in these jurisdictions any rights of action in circumstances where this presentation or an amendment hereto contains a misrepresentation, the Company hereby grants to such purchasers contractual rights of action that are equivalent to the statutory rights of action set forth above with respect to purchasers resident in Ontario. In Manitoba, the Securities Act (Manitoba), in Newfoundland and Labrador, the Securities Act (Newfoundland and Labrador), in Prince Edward Island, the Securities Act (PEI), in Yukon, the Securities Act (Yukon), in Nunavut, the Securities Act (Nunavut) and in the Northwest Territories, the Securities Act (Northwest Territories) provide a statutory right of action for damages or rescission to purchasers resident in Manitoba, Newfoundland and Labrador, PEI, Yukon, Nunavut and Northwest Territories respectively, in circumstances where this presentation or an amendment hereto contains a misrepresentation, which rights are similar, but not identical, to the rights available to Ontario purchasers. The statutory right of action described above is in addition to and without derogation from any other right or remedy at law.
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4 Solaris Investment Case PFS confirms Warintza’s Tier 1 status Global scale resource with multi-decade mine life and first quartile costs driving significant EBITDA and FCF District scale potential with no attachment to a major One of the few copper projects globally with multigenerational scale without an attachment to a major Social license to operate Impact & Benefits Agreement signed along with Municipal, Provincial and Federal government endorsements Favourable mining jurisdiction Open economy with USD denominated economy and stable fiscal regime Experienced team Diverse skillsets covering all critical elements required at this stage of Solaris’ development Fully funded to complete feasibility study US$200 mm financing package with Royal Gold in May 2025 Operational simplicity Conventional open pit mining methods at low elevation and leveraging conventional processing plant 4
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5 PFS Highlights PFS Confirms Warintza’s Status as a Tier 1 Project Source: Warintza PFS 1. Copper equivalent production based on metal prices of US$4.50/lb Cu, US$20.00/lb Mo, US$28.00/oz Ag and US$2,800/oz Au 2. By-product AISC, inclusive of the Royal Gold stream and royalty 3. Capital Intensity calculated as Initial Capex / Avg Annual CuEq. Produced for first 15 years 4. Commodity price assumptions: US$4.50/lb Cu, US$20.00/lb Mo, US$28.00/oz Ag and US$2,800/oz Au for years 1-3 then US$2,500/oz for years 4-22 Key Features of Warintza 312% increase in M&I Mineral Resources compared to the 2024 MRE Excellent access to infrastructure (water, power, roads, labour, etc) Clean high-quality concentrate providing marketing flexibility Significant potential to extend LOM by 25 to 30 years beyond Reserves Key PFS Outputs 304kt (Avg. Y1-5) +20 Years 0.53:1 US$15,440/t(3) $4.6bn(4) PFS prepared in conjunction with highly experienced consultants 2.6 Years 242kt (Avg. Y1-15) Production (CuEq)(1) $0.85/lb (Avg. Y1-5) $1.07/lb (Avg. Y1-15) Annual EBITDA(4) $1.9bn (Avg. Y1-5) $1.4bn (Avg. Y1-15) Annual Post-tax FCF(4) $1.3bn (Avg. Y1-5) $1.0bn (Avg. Y1-15) Reserve Life LOM Strip Ratio First Quartile AISC(2) Capital Intensity US$3,684 mm pre-production capex Post-tax NPV8% and IRR Post-tax Payback Period 26%
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6 5,294 Reserves Resources Significant Resource Base & Production Scale Global Scale & Strategic Flexibility Average Annual Copper Equivalent Production (ktpa)(1)(2)Ore Reserves & Mineral Resources (contained CuEq kt) Source: Wood Mackenzie, Technical Reports, Warintza PFS Model 1. Excludes projects with LOM average copper equivalent production < 100 ktpa 2. Copper equivalent production obtained from Technical Report if disclosed, otherwise calculated based on metal prices of US$4.50/lb Cu, US$20.00/lb Mo, US$28.00/oz Ag and US$2,500/oz Au Average Annual Copper Equivalent Production (kt) Attachment to a Major Only 10 (of top 30) Greenfield projects with scale, have no attachment to a major No attachment to a Major Further Exploration Potential Tonnage (Mt) CuEq (%) Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq. (kt) Cu (kt) Proven 797 0.49% 0.37% 0.05 0.02% 1.37 3,884 2,957 Probable 503 0.28% 0.22% 0.03 0.01% 1.19 1,410 1,123 Total Reserves 1,300 0.41% 0.31% 0.04 0.02% 1.30 5,294 4,080 Measured 1,196 0.45% 0.35% 0.04 0.02% 1.31 5,428 4,149 Indicated 2,550 0.25% 0.20% 0.03 0.01% 1.13 6,392 4,986 Total M&I Resources 3,746 0.32% 0.24% 0.04 0.01% 1.19 11,820 9,135 Inferred Resources 2,092 0.20% 0.16% 0.02 0.01% 1.11 4,276 3,341 Reserves for 22-year operation Significant potential to extend LOM by 25 - 30 years beyond Reserves Reserves represent less than a third of Warintza’s current resource endowment Basis for PFS Measured: 5,428 Indicated: 6,392 Inferred: 4,276 242 304 Yandera Arctic Tia Maria Copper Creek Ann Mason Santo Tomas Costa Fuego La Arena II Ruta del Cobre El Arco Canariaco Los Chancas Tampakan Schaft Creek Casino Cascabel Vizcachitas Galeno Haquira Los Azules Josemaria Golpu Taca Taca Warintza (Yr 1-15) Galore Creek Michiquillay NuevaUnion Pebble El Pachon La Granja Warintza (Yr 1-5) Reko Diq
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7 Low Capital Intensity Highly attractive capital intensity relative to peers and industry leaders Source: Wood Mackenzie, Technical Reports, Warintza PFS Model, public filings 1. Capital Intensity calculated as Initial Capex / Avg Annual CuEq. Produced for first 15 years 2. Weighted average capital intensity of organic brownfield and greenfield growth projects as per 2024 Annual Report (published March 2025) 3. Represents the median capital intensity (Initial Capex / Avg Annual CuEq. Production) of copper development projects that are forecast to produce >200ktpa CuEq 4. Average mid-point capital intensity of BHP’s Chilean organic growth projects as published in their February 2025 corporate presentation Capital Intensity Benchmarking (US$/t CuEq)Key Drivers of Warintza’s Low Capital Intensity 15,440 $15,000 - $20,000 $21,000 $23,000 Solaris (Yr 1-15) Glencore Similar Scale Copper Development Projects BHP Peer Development Projects Median (1) (2) (3) (4) Substantial existing infrastructure Low average elevation of 1200m Fresh water available Low-cost operating inputs Minimal pre-stripping capex Conventional concentrator plant Simple open pit mining method
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8 Low Strip Ratio Warintza boasts one of the highest strip-adjusted grades of any copper development project globally Source: Wood Mackenzie, Technical Reports, Warintza PFS Model 1. Excludes underground projects and projects with LOM average copper equivalent production < 100 ktpa 2. Strip adjusted grade calculated as: Contained Copper / Total Material Moved Strip-Adjusted Grade Benchmarking(1)Advantage of close to surface ore body Minimal waste removal significantly reduces costs High grade at surface Optimization opportunities for mine planning Copper Head Grade (%) LOM Strip Ratio Strip-Adjusted Grade (%)(2) Reduces the mine’s physical footprint 0.19% 0.26% 0.29% 0.30% 0.30% 0.33% 0.34% 0.35% 0.35% 0.36% 0.36% 0.37% 0.38% 0.38% 0.38% 0.43% 0.44% 0.44% 0.46% 0.46% 0.47% 0.48% 0.51% 0.55% 0.55% 0.57% 0.69% 0.71% 0.91% 2.11% Casino Schaft Creek Pebble Ann Mason Josemaria Santo Tomas Yandera Ruta del Cobre Canariaco Warintza (Yr 1-15) Vizcachitas Tia Maria El Arco Costa Fuego La Arena II Copper Creek Warintza (Yr 1-5) Taca Taca Los Azules Haquira Los Chancas Reko Diq Galeno El Pachon NuevaUnion La Granja Michiquillay Galore Creek Tampakan Arctic 0.10% 0.11% 0.13% 0.13% 0.13% 0.14% 0.14% 0.14% 0.15% 0.15% 0.15% 0.15% 0.17% 0.17% 0.18% 0.20% 0.20% 0.21% 0.21% 0.21% 0.23% 0.23% 0.23% 0.24% 0.25% 0.26% 0.29% 0.29% 0.37% 0.39% La Arena II Vizcachitas Ann Mason Schaft Creek Casino Santo Tomas Galore Creek Yandera Canariaco Haquira Josemaria Costa Fuego Taca Taca NuevaUnion Ruta del Cobre Copper Creek Tia Maria Michiquillay Los Azules Los Chancas La Granja Reko Diq Warintza (Yr 1-15) El Arco Arctic Pebble Warintza (Yr 1-5) El Pachon Tampakan Galeno 7.3x 3.9x 2.9x 2.3x 2.3x 2.3x 2.1x 1.6x 1.5x 1.5x 1.5x 1.4x 1.4x 1.3x 1.3x 1.2x 1.2x 1.2x 1.1x 1.0x 1.0x 0.9x 0.9x 0.9x 0.6x 0.5x 0.4x 0.3x 0.1x Arctic Galore Creek La Arena II Vizcachitas Michiquillay NuevaUnion Haquira Taca Taca Costa Fuego La Granja Tampakan Santo Tomas Yandera Canariaco Ann Mason Los Chancas Copper Creek Los Azules Reko Diq Schaft Creek Josemaria Ruta del Cobre El Pachon Tia Maria El Arco Warintza Casino Galeno Pebble Lower truck hours which reduces carbon footprint
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9 270 370 319 318 237 251 262 219 224 193 $1.28 $0.47 $0.79 $0.63 $1.14 $1.07 $0.89 $1.38 $1.08 $1.26 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 ($2.00) ($1.00) -- $1.00 $2.00 $3.00 $4.00 $5.00 -- 5,000 10,000 15,000 Cumulative Copper Production (kt) Large-scale, Low-cost Production Warintza to produce ~250ktpa CuEq over the first 15 years with first-quartile AISC Source: Warintza PFS Model, Wood Mackenzie Global Copper Cost Curve 1. AISC figures inclusive of the Royal Gold stream and royalty 1-15 Yr: US$1.07/lb Reserve life continues for 20+ years LT Copper Price: US$4.50/lb 1-5 Yr: US$0.85/lb Margin: 77% Margin: 82% By-Product AISC(US$/lb)(1): 2025E By-product AISC Curve (US$/lb Cu)(1) First 10 years CuEq. Production (kt)
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10 $1,058 $1,781 $1,448 $1,426 $991 $1,035 $1,111 $837 $924 $777 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 FCF $1,691 $2,475 $2,062 $2,031 $1,367 $1,475 $1,592 $1,249 $1,307 $1,063 76% 81% 78% 78% 70% 71% 74% 70% 71% 67% Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 EBITDA EBITDA Margin Significant EBITDA & FCF Generation 1st Quartile Costs Drive Significant EBITDA and FCF Generation Source: Warintza PFS Model 1. Financial metrics shown are inclusive of the Royal Gold stream and royalty First 10 years Post-tax Free Cash Flow (US$ mm)(1) Reserve life continues for 20+ years Reserve life continues for 20+ years LOM Total EBITDA: US$25,433 mm LOM Total FCF: US$17,431 mm First 10 years EBITDA (US$ mm) and EBITDA Margin(1)
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11 Technical simplicity Environmentally Encapsulated South ridge line West ridge line North ridge line Technical simplicity Conventional open pit mining methods Conventional processing equipment Operating at low elevation Available fresh water Substantial existing infrastructure Clean high-quality concentrate providing strategic marketing flexibility PFS prepared in conjunction with Ausenco, Knight Piesold & AMC Pit TMF WRF Stockpile Plant Environmentally encapsulated Footprint encapsulated by the north, west and south ridge line Small and compact footprint Water flows downstream from Southwest to Northeast Principal access road to port Water runoff to the East
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12 Social License to operate Favourable Mining Jurisdiction Partnerships signed with all Indigenous organisations in the area of influence Impact & Benefits Agreements signed, updated in 2024 Proactive engagement ensuring communities are informed & empowered Final Technical EIA report submitted and is currently under government review FPIC informative government led process is to commence shortly “The IBA brings greater opportunities for the development of our communities, supported by a permanent relationship based on mutual respect, transparent dialogue, and a history of positive impacts. We look forward to continuing our relationship and playing an integral role in the advancement of the Project.” Mr. Agustin Kayuk, Leader of Shuar Warints Center and Board member of the Strategic Alliance Export driven country with strong infrastructure including deep sea ports US$ denominated currency with stable fiscal regime Mining is a major growth pillar of the economy Left, Right, Centrist governments have supported mining 12
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13 District Potential Warintza Cluster and District Opportunity Note: San-Carlos-Panantza are independent of Solaris and are no guarantee of the future performance of Solaris projects and no inference can be made of mineral resources or reserves from adjacent deposits 1: Preliminary Assessment Report, Panantza & San Carlos Copper Project, Morona-Santiago, Ecuador (effective date October 30, 2007) Further Exploration Potential in the district Measured: 1,196 Indicated: 2,550 Inferred: 2,092 Resources at Warintza (Mt) Inferred: 1,063 Resources at San Carlos & Panantza (Mt) Potential to become one of the World’s Largest Undeveloped Copper Cluster’s Ecuador Peru 40km to Mirador Mine 80km to Fruta del Norte 13
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14 US$200m Financing Package May 2025 Project Timeline Growth & Derisking 20251 20262 1. EIA Technical Approval is Company guidance purposes only and are no guarantee of future performance 2. Exploitation agreement, early works and Feasibility Study publication are Company guidance purposes only and are no guarantee of future performance 3. Construction Decision timeline is Company guidance purposes only and are no guarantee of future performance 2027 - 20303 Funded via US$200m financing package with Royal Gold PFS Publication November 2025 Updated MRE November 2025 EIA Technical Approval H2/25 Exploitation Agreement H2/26 Early Works to begin H2/26 Feasibility Study Publication H2/26 Construction Period 2027-2030
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15 Solaris Investment Case PFS confirms Warintza’s Tier 1 status District scale potential with no attachment to a major Social license to operate Favourable mining jurisdiction Experienced team Fully funded to complete feasibility study Operational simplicity 15
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Appendix
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17 Senior Management Team Diverse skillsets covering all critical elements required at this stage of Solaris’ development Matthew Rowlinson President & CEO Extensive leadership experience across operations, M&A, and portfolio management, supported by a deep understanding of the global copper market. Matthew previously held senior executive roles within Glencore’s Copper Department, most recently serving as Head of Copper Business Development, where he was jointly responsible for the strategic direction and growth of one of the world’s largest copper portfolios. Richard Hughes CFO Over 20 years of experience in the natural resources sector, most recently as CFO & Executive Director of Trident Royalties PLC until its acquisition in late 2024. Prior to joining Trident, he was a senior member of the Metals and Mining Investment Banking team at RBC Capital Markets. Ignacio Shimamoto VP Finance A senior finance executive with over 20 years of experience in financial planning, business improvement, and cost optimization within the natural resources sector. He led financial operations for major mining projects at Glencore, including Antapaccay and Coroccohuayco, and later served as Regional Finance Manager across mining operations in Argentina, Chile, and Peru. Javier Toro COO A Mining Engineer with over 25 years of experience leading the design and execution of engineering and economic studies for global scale open pit copper projects in the Americas. Prior to joining Solaris in January 2024, Mr. Toro worked with Hudbay Minerals for over 11 years, most recently as Vice President, Mining Technical Services. Jorge Fierro VP Exploration Prior to joining Solaris over 9 years ago, Jorge spent 6 years as CIC Resources’ GM for South America, 2 years as Rio Tinto’s Mining & Exploration Country Manager for Peru and 10 years with BHP in a variety of positions including Northern Andes Exploration Manager, Chief Mine Geologist for the Tintaya copper mine and part of the team that discovered the Antapaccay mine. Ricardo Obando VP Community & Govt affairs An expert in the field of government and community social relations with a specialty in the formulation and design of dialogue and consultation processes. Prior to joining Solairs in 2019, Ricardo held senior roles in the Ecuadorian public sector, including Advisor to the Ministry of Energy & Mines and Strategic Coordinator of Social Intervention of the Ministry of Strategic Sectors. Patrick Chambers VP Business Development & Investor Relations Metals and mining investor relations professional with a strong track record across a broad range of commodities, with a particular focus on Latin America. Patrick began his career as a geologist with Fresnillo in Mexico before moving into corporate finance and subsequently investor relations, combining technical insight with financial and strategic expertise. Diverse skillsets covering all critical elements required at this stage of Solaris’s development Proven track record of success in mining projects Extensive operational experience in Latin America Expertise in corporate structuring and financing
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18 Solaris Capital Structure(1) Strong alignment with stakeholders TSX SLS NYSE SLSR Basic Shares Outstanding 165.8m Fully-Diluted Shares Outstanding 176.7m Close Price (SLS:TSX) October 4 2025 C$8.70 Basic Market Cap2 US$1,033M Available Liquidity3 US$47.8M RESEARCH COVERAGE CAPITALISATION Management & Insiders 41% Float 19% Institutions 40% OWNERSHIP (% as of 30 September, 2025) SHARE DISTRIBUTION Richard Warke (Non-Exec Chairman) 36.09 Blackrock 5.09 Daniel Earle 4.29 Orion Resource Partners 3.29 Boundary Creek 3.00 L1 Capital 2.97 Helikon Investments 2.90 US$200M financing package with Royal Gold secured in May 2025, comprising a gold stream and NSR Royalty 1. Capital structure as at September 30, 2025 2. Dated as at October 27, 2025 3. Balance as at June 30, 2025
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19 $0.01 $0.01 $0.01 $0.02 $0.02 $0.03 $0.04 $0.04 $0.14 $0.17 $0.19 $0.44 $0.65 $0.15 $0.20 $0.46 Los Andes Northern Dynasty Hot Chili SolGold ATEX Arizona Sonaran Western Copper Solaris NGEx Trilogy Ivanhoe Electric Marimaca Foran BM Developers Avg. BM Junior Producers Avg. BM Int. Producers Avg. 0.09x 0.23x 0.24x 0.25x 0.28x 0.30x 0.37x 0.46x 0.79x 0.94x 0.94x 1.19x 1.62x 0.62x 1.10x 1.22x Los Andes Solaris Hot Chili SolGold Western Copper Arizona Sonaran ATEX Northern Dynasty Marimaca NGEx Foran Ivanhoe Electric Trilogy BM Developers Avg. BM Junior Producers Avg. BM Int. Producers Avg. Source: Company Filings, Street Research 1. Developers include Northern Dynasty, Marimaca, Arizona Sonoran, Trilogy, NGEx, ATEX, Western Copper, Ivanhoe Electric, SolGold, Los Andes, Foran and Hot Chili. 2. Juniors include Atalaya, Central Asia Metals, Ero Copper and Taseko. 3. Intermediates include Boliden, Hudbay, Lundin Mining, Nexa, Ivanhoe, Capstone and Sandfire. Compelling Valuation Solaris trades at a meaningful discount to peers and broker target prices, offering strong re-rating potential P / NAV (ratio) EV / Resource (US$/lb Cu) (1) (2) (3) (1) (2) (3)
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20 Plant Optimal layout and design with other infrastructure Highlights Throughput: 165,000 tpd Primary and secondary crusher Produce two separate concentrate: Cu concentrate with Ag and Au content Molybdenum concentrate Plant close to mine Plant is located at a higher elevation than the tailings management facility for gravity discharge 20
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21 Tailings Management Facility Strategic Location B B A A A ABB Highlights Capacity: 1,300 M tonnes TMF with one principal dam and three smaller dams Center Line method with a rockfill starter dam and cyclone sand raising Water management with tailing beach's in all dams Slope stability following the Canadian Dam Association (CDA) criteria The dam slopes are designed following the long- term stability under operations and seismic loading conditions 21
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22 Infrastructure Excellent access to infrastructure Existing road access to Warintza Project Concentrate transport route from the Bolivar Port to Warintza Project of ~340 Km Connection to Bomboiza substation using an overhead transmission line (~62 Km) Bolivar port will be primary destination for logistical purposes 22
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