Capstone Copper Reports First Quarter 2026 Results

• Adjusted EBITDA1 reaches new highs, up last six quarters
• Record adjusted earnings per share1
• Focused on operational execution and advancing high-return organic growth opportunities

Capstone Copper Corp. reported financial results for the three months ended March 31, 2026 (Q1 2026). Consolidated total contained copper production for Q1 2026 was 47,960 tonnes at C1 cash costs1 of $2.66/lb, which included sulphide copper production of 40,875 tonnes at C1 cash costs1 of $2.18/lb. Net income attributable to shareholders was $102.5 million, or $0.13 per share, compared to a net loss of $6.8 million, or $(0.01) per share, in Q1 2025. Adjusted net income attributable to shareholders1 was a record $94.8 million, or $0.12 per share, compared to $8.1 million in Q1 2025. Adjusted EBITDA1 reached a record $329.1 million, up from $179.9 million in Q1 2025. Operating cash flow before changes in working capital was $217.9 million. Net debt1 decreased to $737.5 million as of March 31, 2026, and total available liquidity1 was $1,046.3 million. The company's 2026 production and cost guidance remains unchanged. The Mantoverde Optimized Project progressed according to plan, with the capital cost estimate of $176 million unchanged.

2026 production guidance of 200,000 to 230,000 tonnes of copper and C1 cash costs1 guidance of $2.45 to $2.75 per payable pound of copper is unchanged.

The company is focused on operational execution and continuing to advance its high-return organic growth opportunities, including executing the Mantoverde Optimized Project, advancing Santo Domingo to a sanctioning decision, and progressing its exploration strategy centered around district-scale growth.