Lumina Metals (LMCU) Investor presentation summary

Project scale and resources

• Three large sediment-hosted copper-silver deposits discovered in Western Poland, including Nowa Sól, one of the largest undeveloped copper and silver projects globally, with a forecasted average annual production (years 1-10) of 290Kt Cu and 28Moz Ag.

• Nowa Sól measured and indicated resource: 604Mt at 1.24% Cu and 38.29 g/t Ag; inferred resource: 112Mt at 1.08% Cu and 28.91 g/t Ag.

• Sulmierzyce project (150km from Nowa Sól): inferred resource of 308Mt at 2.09% Cu and 31.9 g/t Ag.

• Nowa Sól ranks among the largest global copper and silver projects by contained metal.

• Poland is #6 globally in copper resource endowment and #1 in silver resource endowment.

Location and infrastructure

• Nowa Sól is 25km from KGHM's smelter, with access to skilled labor, highways, rail, and power infrastructure.

• The project benefits from EU regulatory stability and proximity to major cities and transportation networks.

Economic highlights and cost structure

• Preliminary Economic Assessment (PEA) shows pre-tax NPV7% of US$8.3B and IRR of 20.5%; post-tax NPV7% of US$1.6B and IRR of 10.8%.

• By-product AISC averages US$1.17/lb Cu (years 1-10), placing the project in the lower half of the global cost curve.

• Pre-production capital cost totals US$6.4B, with capital intensity of US$16,416/t CuEq.

• Forecasted annual EBITDA (years 1-10) is US$2.5B, with significant free cash flow generation.