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Investor Presentaiton

MERDEKA COPPER GOLD Competitive "Cycle-Proof" Cost Structure Tujuh Bukit Copper Project is anticipated to be a low-cost, long-life operation with a 1st quartile AISC of US$0.50/lb net of gold credits1 – favourably positioned compared to peer SLC and block caving operations - US$/lb 12.0 10.0 First Quartile 8.0 6.0 4.0 MERDEKA COPPER GOLD 2.0 Grasberg ON Carrapateena newgold Rio Tinto Government of Mongolia Oyu Tolgoi Underground New Afton Rio Tinto/CODEL.CO El Teniente Open Pit/Mixed Second Quartile 44444444042% (ZTS) Tongkuangyu Development Third Quartile LEE 河钢集团 GROUP HBIS GROUP Palabora Production Fourth Quartile 0.0 Source: CRU, S&P Global Market Intelligence. AISC inclusive of by-product credits. 1. Estimated AISC based on a Scoping Study prepared by independent technical consultant ORELOGY with significant specialist contributions from Stantec, DRA, Ausenco and Hatch. Refer to the Tujuh Bukit Copper Project Update released on 17 October 2022 for additional information 10
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