Contango Ore (CTGO) investor relations material

Executive summary

• The proxy filing details a proposed merger between Contango and Dolly Varden, with Contango acquiring all Dolly Varden shares at a fixed exchange ratio of 0.1652 Contango shares per Dolly Varden share, resulting in a combined company with 50/50 ownership by each group of shareholders.

• The transaction is structured as a statutory plan of arrangement under British Columbia law, subject to approval by both companies' shareholders, the Supreme Court of British Columbia, and relevant regulatory bodies.

• The combined company will be named Contango Silver & Gold Inc., with a board composed of four directors from Contango and three from Dolly Varden, and a management team including executives from both companies.

• The merger aims to create a leading North American precious metals company with a diversified asset portfolio, enhanced funding, and exploration upside.

Voting matters and shareholder proposals

• Shareholders are asked to vote on: (1) the Arrangement Proposal (issuance of shares for the merger), (2) the Share Increase Proposal (increase authorized shares from 45M to 250M), and (3) the Incentive Plan Proposal (adoption of a new omnibus incentive plan).

• The board unanimously recommends voting FOR all proposals; the Arrangement and Share Increase Proposals are cross-conditioned, while the Incentive Plan Proposal is independent.

• Voting can be done online, by phone, or by mail, and a quorum requires a majority of outstanding shares.

Board of directors and corporate governance

• The post-merger board will have seven members, with a majority being independent under NYSE American standards.

• The board will maintain Audit, Compensation, and Nominating and Corporate Governance Committees, all composed of independent directors.

• Annual election of directors and established risk oversight through board committees are in place.