Ero Copper (ERO) Investor Day 2026 summary

Strategic transformation and operational excellence

• The One Ero/OneEro initiative integrated people, culture, and operations, driving safety, performance, and procurement savings of $10–15 million annually and over $20 million from renegotiated contracts, with over $20 million in expected 2026 savings.

• Achieved commercial production at Tucumã, advanced the Furnas copper-gold project, and completed mine mechanization at Xavantina, driving record throughput, operational efficiency, and $5 million annual opex savings.

• Maintained stable share count while delivering significant production, revenue, and resource growth since 2016.

• Focused on health and safety, achieving one of the lowest LTIFRs in 2025, zero fatalities in 2025 and YTD 2026, and 1,000 days without a lost-time injury at Furnas.

• Technology and innovation, such as AI-driven mills and remote drilling, are being implemented to enhance productivity and safety across all sites.

Operational performance and growth

• Caraíba’s plant capacity expanded to 4.8 Mtpa, with the new Pilar shaft unlocking higher mining rates, lower costs, and access to high-grade zones; sustained throughput of 4.5–4.7 Mtpa expected through 2028.

• Tucumã achieved commercial production in July 2025, with tailings filtration upgrades to reach 4 Mtpa run-rate by end of 2026 and ongoing exploration for underground resource extensions.

• Xavantina’s mechanization and infrastructure upgrades improved mining rates and safety, with gold concentrate sales from historic stockpiles generating incremental cash flow.

• Three-year production outlook (2026–2028): Caraíba 35–50 kt Cu, Tucumã 32.5–40 kt Cu, Xavantina 40–60 koz Au.

• New regional exploration, including the Odin copper-nickel district, is advancing with early drilling success and a disciplined, low-cost approach.

Growth projects and exploration pipeline

• Furnas is positioned as the cornerstone for future growth, with a 24-year mine plan, robust economics, over 200,000m drilled, 11 rigs active, and a pre-feasibility study expected in 2027; FID targeted for 2029.

• Exploration strategy prioritizes mine life extension, new regional discoveries (e.g., Cu-Ni sulphide near Vermelhos, Odin greenfield district), and organic pipeline development.

• In-mine and near-mine drilling at Caraíba, Tucumã, and Xavantina continues to confirm high-grade extensions and resource growth.