Quarterly Activities/Appendix 5B Cash Flow Report

• Copper recovery increased to 78%, up from 66% in March
• Record revenue of approximately US$11.8m achieved, up 30% from the previous quarter
• Positive EBITDA of approximately US$0.5m recorded
• Significant reduction in creditor exposure to approximately US$32.2m
• Exploration activities ramped up with four operational drill rigs in operation

Cobre Ltd. has reported a third consecutive quarter of operational improvement at its Sierra Atacama Copper Project in Chile. Key highlights include a significant increase in copper recovery to 78% from 66% in March, record revenue of approximately US$11.8 million, positive EBITDA of approximately US$0.5 million, a substantial reduction in creditor exposure to approximately US$32.2 million, and intensified exploration efforts with four operational drill rigs now in use. The company also completed a geotechnical review, ensuring safe and compliant mining practices. Additionally, Cobre secured control of Sierra Atacama, increasing its ownership to 62.86%, and completed a capital raising of A$90 million. The company is also focusing on workforce and community engagement, with a local community engagement plan in place.