Quarterly Activities/Appendix 5B Cash Flow Report

HIGHLIGHTS

• Approved Phase 1 Cathode Restart, with first cathode production anticipated in mid-2026
  
• Completed transformational A$80 million capital raise via Placement and Entitlement Offer
  
• Improved balance sheet flexibility through refinancing of senior secured loan facility
  
• Appointed Jim Simpson and Amber Banfield as Non-Executive Directors to Cyprium Board
  
• 1-for-10 Share Consolidation finalised following shareholder approval at the Company’s Annual General Meeting (AGM) in October 2025
  
• Completed surplus generator sale with total consideration of US$6.4M now received in full
  
• Maintained strong cash position: A$75.0M cash at quarter-end

Commenting on the December 2025 Quarter, Cyprium Executive Chairman Matt Fifield, said:

“Cyprium enters 2026 with the Nifty Phase 1 Cathode Restart well underway following completion of our transformational $80 million capital raise and the refinancing of our existing debt facility. Across the quarter we made significant progress preparing the heap leach infrastructure to be ready to operate, and ordered the long lead items that will allow our extended team to refurbish the SXEW plant across the first half of this year. This next half year is continued focus on project execution and preparing ourselves to transition from developer to producer.

As our first project starts to deliver, we are naturally increasing our focus on growing our business rapidly. We continuing to advance all workstreams around the next phase of the Nifty Copper Complex which involves designing and building a surface mine to access the permitted shallow open-pit oxide ores and the sulphide ores beneath it.

We have also increased our focus on resources outside of the Nifty Copper Complex that could quickly come into a production plan. Now that we have regained control of the Paterson Exploration Project from IGO, there is significant potential to leverage exploration data from the past into potentially meaningful developments for Cyprium as we continue to build Australia’s next great copper company.”

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