Cobre Signs Agreement with ENAMI

• Secured approximately 150,000t of low-cost ENAMI copper oxide material at ~0.65% CuT
• On-site copper recovery program under way targeting additional low-cost PLS
• Initiatives expected to have low acid requirements in high acid-price environment

Cobre Limited has entered into an agreement with Empresa Nacional de Minería (ENAMI) to purchase approximately 150,000 tonnes of crushed-leached copper oxide material grading around 0.65% CuT, which will be delivered to Sierra Atacama. This initiative is part of Cobre's strategy to increase the utilization of its existing leach and solvent extraction-electrowinning (SX-EW) infrastructure. Additionally, Cobre is implementing an on-site copper recovery program targeting additional low-cost, pregnant leach solution (PLS) from historical leach pads and ponds. These efforts are expected to support increased copper production as the company ramps up underground mining and progresses towards open-pit operations. Importantly, all initiatives are anticipated to have relatively low acid requirements, providing an advantage in the current high acid-price environment.