• Safety performance maintained with TRIF of 7.0 and LTIF of 0.0
• Golden Grove copper and zinc production increased quarter-on-quarter
• Gossan Valley project remains on track for first ore by end of 2026
• Capricorn Copper successfully managed heavy rainfall conditions

29METALS Ltd reported results for the December 2025 quarter, with safety performance maintained at a TRIF of 7.0 and LTIF of 0.0. At Golden Grove, copper production increased to 6.9kt and zinc production to 3.4kt quarter-on-quarter, driven by higher ore tonnes milled and improved grades and recoveries. C1 costs improved to US$2.49/lb copper sold. The Gossan Valley project remains on track for first ore by the end of 2026, with the award of a mining contract to Byrnecut and completion of the first portal cut. Exploration drilling continued to highlight potential mine life extensions at existing Gossan Hill deposits. At Capricorn Copper, heavy rainfall conditions were successfully managed, achieving an approximately neutral water balance versus the prior quarter. The company continues to progress approvals for the Tailings Storage Facility 3. 29METALS provided 2026 production and cost guidance, with copper production expected between 20-24kt, zinc 40-50kt, and gold 12-20koz. Site costs are guided at A$385-415 million, with sustaining capital of A$15-20 million, development capital of A$35-45 million, and growth capital of A$110-130 million, including A$65-70 million for the Gossan Valley project.

Golden Grove production guidance for 2026: Copper 20-24kt, Zinc 40-50kt, Gold 12-20koz, Silver 600-800koz. Site costs A$385-415 million, sustaining capital A$15-20 million, development capital A$35-45 million, growth capital A$110-130 million (including A$65-70 million for Gossan Valley). Capricorn Copper suspension operating and capital costs A$30-40 million.