Cyprium Metals : Investor Webinar Presentation

BUILDING AN AUSTRALIAN COPPER COMPANY

onlyuseCYM Investor Webinar

ersonalDecember 2021

ASX: CYM

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Important Notices and Disclaimer

IMPORTANT: You must read the following before continuing.

This investor presentation ("Presentation") has been prepared by Cyprium Metal s Limited (ABN 48 002 678 640) ("Cyprium" or "Company").

onlySummary information

By reviewing or retaining these materials, or attending or participating in this Presentation, you acknowledge and represent that you have read, understood and accepted the terms of this "Important Notices and Disclaimer". This Presentation contains summary information about Cyprium, and its activities current only at the date of this Presentation. This Presentation is for information purposes only. The information in the Presentation is of a general nature only and does not purport to be complete. This Presentation should be read in conjunction with Cyprium's most recent financial report and other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange ("ASX") which are available at www.asx.com.auand also available on Cyprium's website at www.cypriummetals.com. Certain information in this Presentation has been sourced from Metals X Limited, the former owner of Paterson and their representatives or associates. While steps have been taken to review that information, no representation or warranty, expressed or implied, is made as to its fairness, correctness, completeness or accuracy. Certain information in this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Cyprium

or its representatives have independently verified any such information sourced from third parties or industry or general publications.

N t an offer

This Presentation is for information purposes and is not, and does not purport to be, a prospectus, product disclosure statement or any other offering document under Australian law or the law of any other jurisdiction (and will not be lodged with the Australian Securities and Investments Commission ("ASIC") or any foreign regulator). The information does not and will not constitute or form part of an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this Presentation nor anything in it shall form any part of any contract for the acquisition of Cyprium shares. The distribution of this Presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

useNot investment or financial product advice

This Presentation does not constitute financial product, investment, legal, taxation, accounting or other advice and is not intended to be used or relied upon as the basis for making an investment decision. This Presentation is not a recommendation by Cyprium or its advisers to acquire Cyprium shares or New Shares. This Presentation has been prepared without taking into account the objectives, financial situation or needs of individuals.

Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek financial, legal and taxation advice appropriate to their jurisdiction. Cyprium is not licensed to provide financial product advice in respect of Cyprium shares.

Effect of rounding

A n mber of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation.

Past performance

Past performance information, including past share price performance of Cyprium and pro forma financial information, given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of Cyprium's (or anyone else's)

views on Cyprium's future financial performance or condition. Past performance of Cyprium cannot be relied upon as an indicator of (and provides no guidance as to) the future performance of Cyprium. Nothing contained in this Presentation nor any information made ersonalavai able to you is, or shall be relied upon as a promise, representation, warranty or guarantee, whether as to the past, present or future.

Future performance

This Presentation contains certain "forward-looking statements" and comments about future events, including statements regarding Cyprium's intent, belief or current expectations with respect to the Company's business and operations, market conditions, results of operations and financial condition, and risk management practices. The words "likely", "expect", "aim", "should", "could", "may", "anticipate", "predict", "believe", "plan", "estimate", "will", "believe", "target" and other similar expressions are intended to identify forward- looking statements. Indications of, and guidance outlook on, future earnings or financial position or performance are also forward-looking statements and include statements in this Presentation regarding the conduct and the future performance of Cyprium.

Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumption on which these statements are based. These statements may assume the success of Cyprium's business strategies. The success of any of those strategies will be realised in the period for which the forward-looking statement may have been prepared or otherwise. Recipients of this Presentation are cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic, and except as required by law or regulation, none of Cyprium, its representatives or advisers assumes any obligation to update these forward-looking statements. No representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in this Presentation. The forward-looking statements are based on information available to Cyprium as at the date of this Presentation. Except as required by law or regulation (including the ASX Listing Rules), none of Cyprium, its representatives or advisers undertakes any obligation to provide any additional or updated information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements.

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Cyprium Investment Overview

Cyprium Metals - Building an Australian Copper Company

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ersonal1

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ASX listed, West Australian focused copper developer and explorer

Near term copper producer - heap leach operation targeting H1 2023 commissioning

Portfolio of development opportunities with over +1.2Mt1 of contained copper in Mineral Resources

Material exploration upside with large landholding in the Paterson Province & farm-in with IGO Ltd

Highly credentialled Board and Management team focussed on creating shareholder value

Multi-asset strategy set to capitalise on global electrification thematic

Well funded to execute strategy with A$40M2 of cash

Cyprium ASX announcement: 17 November 2021 - Updated Nifty Copper Mineral Resource Estimate, 10 February 2021 - Transformational Acquisition of Highly Attractive Copper Portfolio & 29 September 2020- Hollandaire Copper-Gold Mineral Resources Estimate

Cyprium ASX Announcement 29 October 2021- Quarterly Activities and Cashflow Report

Unvested Director and employee performance rights issued at a nil exercise price and subject to performance-basedvesting conditions. Unlisted Convertible Notes at 4% per annum, maturing 30 March 2025.

Table excludes the impact of any shares to be issued, subject to the conversion of the Metals X convertible notes.

Corporate Overview

Focused on building a mid-tier Australian copper mining business

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•	Cyprium Metals (ASX:CYM) is an Australian copper developer and explorer
• Owns a portfolio of near-term development projects focussed in Western Australia
• Highly credentialed board and management team
	− Led by experienced mining executives Barry Cahill and Gary Comb
• Focussed on the near-term development of Nifty open pit heap leach copper strategy to
	produce LME grade A copper cathode

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	Capital Structure
		Securities	A$M
	Ordinary shares	564,819,214
	Performance rights 1	57,000,000
	Unlisted options (ex $0.3141 cents, expiring 30 March 2022)	20,274,755
	Un isted options (ex $0.30 cents, expiring 11 Dec 2022)	6,000,000
ersonal	20,274,755
	Unlisted options (ex $0.3551 cents, expiring 30 March 2023)
	Ordinary shares	564,819,214
	Market Capitalisation (A$0.18)		A$101.7M
	Co vertible notes issued to Metals X 2,3		A$36.0M
	Cash (30 September 2021)		A$40.0M
	Enterprise Value		A$97.7M

Notes 1 2 3

Share Price Performance (as of 1/12/21)

	$0.40	45
	$0.35	40
	$0.30	35
		30
(A$/Share)PriceShare	$0.25			(m)Volume
	25
	$0.20
		20
	$0.15
		15
	$0.10	10
	$0.05	5
	$0.00		0

Dec-20	Mar-21		Jun-21	Sep-21	Dec-21
			Volume		Share Price	4

Board and Management

A strong management team with experience in technically assessing, financing, building and operating successful copper mines

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Gary Comb

Barry Cahill

Nicholas Rowley

Wayne Apted

Peter van Luyt

Non-Executive Chairman

Managing Director

Non-Executive Director

CFO & Company Secretary

Chief Geologist

Mr Comb is an engineer with over 30 years'

Mr Cahill is a mining engineer with over 30 years'

Mr Rowley is an experienced corporate executive

Mr Apted is a chartered accountant with over 25

Mr van Luyt is a geologist with 30 years'

experience in the Australian mining industry,

experience,

including

management

of

with a strong financial background with over 15

years' experience in the mining industry. He was

experience

in

mining,

development

and

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exploration,

financing, project

development,

years' specialising in corporate advisory, M&A

the Chief Financial Officer of Finders Resources

exploration geology. He commenced his career as

with a strong track record in successfully

commissioning and operating base metal mines.

commissioning and operations.

transactions and equities markets.

Ltd until its takeover in 2018.

a mine geologist working in gold mines.

He was Chairman of Finders Resources Ltd from

He was the Managing Director of Finders

Mr Rowley currently serves as a Non-Executive

Mr Apted has previously worked in senior finance

Since 2004 he has been a contract and consultant

2013 to 2018. Mr Comb was previously the

Resources Ltd and previously the Operations

Director of Titan Minerals and Oro X Mining

roles for Masan Resources Ltd, Glencore plc,

geologist specialising in the development of and

Managing Director of Jabiru Metals Ltd and the

Director at Perilya Ltd and Managing Director of

Corporation.

Xstrata plc, Normandy Mining Ltd and Aurora

exploration for base metals and gold projects in

CEO of BGC Contracting Pty Ltd.

Australian Mines Ltd and Norseman Gold Plc.

Gold Ltd in global locations.

Australia, Papua New Guinea and Canada.

ersonal

John Banning

Gavin Hammer

Clint Moxham

Mike Efthymiou

Terry Burns

Chief Operating Officer

GM Project Development

GM Nifty

Chief Metallurgist

Study Manager

Mr Banning is a mining engineer with over 20

Mr Hammer is a maintenance professional with

Mr Moxham is a mining engineer, geologist and

Mr Efthymiou is a metallurgical engineer with 50

Mr Burns is a geologist with over 30 years of

years'

experience,

including

project

over 30 years' experience, including constructing,

mineral economist with over 20 years'

years' global experience in providing

experience additional qualifications in mineral

development, operations,

technical,

business

commissioning, optimisation, asset management

experience, with a track record of delivering

sophisticated mineral processing and project

economics and mine engineering and >30 years

improvement and management.

of process plants and mobile fleets.

greenfield and restart operations.

development services in the mining industry.

of post graduate experience.

Mr Banning has previously been a consultant,

Prior to joining Cyprium Metals, Mr Hammer

Mr Moxham has previously worked in senior

Mr Efthymiou has previously worked in senior

Mr Burns has held senior technical and

Managing Director of Consolidated Tin Mines Ltd

worked with Finders Resources Ltd follow by 2

roles at Nathan River Resources, BGC, Atlas Iron,

roles at BHP Group Ltd, WMC Resources Ltd MIM

management roles at WMC Resources, Finders

and worked at Kagara Ltd, Newcrest, Rio Tinto,

years in Western Africa

in

operational

and

Rio Tinto, Norther Star, Mineral Resources, BHP

Holdings Ltd, Freeport-McMoRan Incorporated

Resources

Ltd,

Mount

Isa Mines Ltd

and

5

BHP, Xstrata Copper, Metals X and Goldfields.

project construction roles.

Billiton, KCGM and Henry Walker Eltin.

and Zambia Consolidated Copper Mines Ltd.

Normandy Metals Ltd.