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CBE Targets 25,000TPA Copper Cathode, Upside to 50,000 TPA

SIERRA ATACAMA EXPANSION TARGETS 25,000 TPA WITH LONG-TERM POTENTIAL FOR 50,000 TPA COPPER CATHODE PRODUCTION ASX Announcement 13 October 2026 HIGHLIGHTS p A fully funded, staged and modular expansion pathway has been defined for Sierra Atacama, leveraging existing infrastructure, and targeting an initial increase in copper cathode capacity to approximately 18,000 tonnes per annum (tpa), followed by expansion to approximately 25,000 tpa and evaluation of a longer-term development case of up to approximately 50,000 tpa. The modular expansion combines refurbishment and recommissioning of existing SX-EW facilities with selective additions to processing capacity, targeting an accelerated and capital-efficient pathway to growth. p Stage 1 – Restore and optimise existing capacity to ~18,000 tpa: Detailed engineering review of the existing Sierra Atacama SX-EW plant has established the scope to refurbish and upgrade the operating solvent extraction circuit and recommission the currently unused second electrowinning bay, targeting approximately 18,000 tpa of copper cathode capacity. p Stage 2 – Expand processing capacity to ~25,000 tpa: Conceptual engineering is underway for refurbishment and recommissioning of the currently unused second solvent extraction line and development of an additional electrowinning bay, providing a potential pathway to increase SX-EW capacity to approximately 25,000 tpa. p Stage 3 – Evaluate a larger development case of up to ~50,000 tpa: Following completion of Cobre’s ongoing 40,000 metre drilling programme, updated Mineral Resource modelling and expanded open-pit mine design, the Company intends to evaluate a larger-scale development case targeting up to approximately 50,000 tpa of copper cathode production.1 p Engineering and environmental studies are advancing for a Declaración de Impacto Ambiental (DIA) designed to support the proposed 25,000 tpa operation, including grid power connection, increased water supply, expanded leach and ROM pads, increased crushing capacity, additional open-pit mining areas and supporting site infrastructure, with DIA submission targeted for the end of 2026. p Tendering for the Stage 1 SX refurbishment and recommissioning of the second electrowinning bay is underway, with awarding to be confirmed by the end of the quarter. ASX: CBE Cobre Limited Level 10, Kyle Ho