Lumina Metals (LMCU) Investor presentation summary

Project overview and history

• Three major sediment-hosted copper-silver deposits discovered in western Poland, including Nowa Sól, Sulmierzyce, and Mozów, with over $125M invested since 2011 and more than 51,000m drilled.

• Nowa Sól is among the largest undeveloped copper and silver projects globally, with a measured and indicated resource of 604Mt at 1.24% Cu and 38.3g/t Ag, and inferred resource of 112Mt at 1.08% Cu and 28.9g/t Ag.

• Sulmierzyce project holds an inferred resource of 308Mt at 2.09% Cu and 31.9g/t Ag, with potential for a spinoff focused on resource growth.

• Strategic cooperation with KGHM, Poland’s leading copper producer, is supported by a recent letter of intent.

Market position and resource rankings

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

• Nowa Sól is positioned among the world’s largest copper and silver development projects by contained metal.

• Poland is the 13th largest copper producer and 4th largest silver producer globally.

Project economics and production profile

• Nowa Sól’s PEA highlights a 20+ year mine life, with average annual production (years 1-10) of 290Kt Cu and 28Moz Ag.

• Pre-tax NPV (7%) is $8.3B and IRR is 20.5%; post-tax NPV (7%) is $1.6B and IRR is 10.8%, based on $4.75/lb Cu and $37.50/oz Ag.

• At higher price assumptions ($6/lb Cu, $90/oz Ag), pre-tax NPV (7%) rises to $22.4B and IRR to 31.9%.

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

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