August 2021 Mining sector institutional framework in Colombia Responsible for the National Mining Policy Vice Ministry of Mines Mining Authority and Sectoral Planning and Geological Knowledge Delegated mining Mining Resources Manager Market Monitoring and Monitoring of authority in the province Geological Threats of Antioquia About the National Mining Agency Main functions Regional presence Article 4 Decree 4134 / 2011 Management of national mineral resources. Bogota - Headquarters Medellin - Regional service office Cali - Regional service office 7 Ibague - Regional service office Hold, manage and audit concession and mining rights for 6 Bucaramanga - Regional service office exploration and development of minerals. 5 Valledupar - Regional service office 2 Cucuta- Regional service office 4 8 1 Nobsa - Regional service office Cartagena - Regional service office Management of the national mining registry. Pasto - Regional service office 3 Manizales - Regional service office Quibdo - Regional service office Calculate, collect, manage and transfer royalties and Mining Safety and Rescue Stations compensations. 1 Ubate 2 Amaga 3 Jamundi 4 Marmato 5 Bucaramanga 6 Remedios 7 Cucuta 8 Nobsa Promote and encourage development of mining. Mining in Colombia 1.3% Of Colombia’s GDP 2020 • Member of the OCDE since May 2018 25% Of exports by 2020 Main functions Regional presence • 4th destiny in LATAM Doing Business (DB) in 2020 167k Direct employees 2020 • 3rd country in LATAM with a mineral resources and reserves standard USD • 19 investment agreements, 16 commerce 415M Of royalties in 2020 agreements and 11 double tax agreements • 25 TSX / TSXV companies in 2021 12.6% Of the FDI in 2020 Exporter in LATAM N°: 1st of coal and emeralds Of LATAM's non-ferrous metals 4th of ferronickel 5% exploration budget in 2020 7th of copper and gold Investment Attractiveness Index and *Fraser Institute Annual Survey of Mining Companies 2020 Best Practices Mineral Potential GDP, exports and employment. Source: DANE st FDI. Source: Central Bank of Colombia 1 Index in Latin America and the Royalties' preliminary data. Source: NMA report Mapa Regallias, DNP as of 30/06/2021 Exploration budget MNF. Source: Cochilco based on S&P Global 2020. Caribbean Basin in 2020* Mining Coal ranked first in mining GDP, with 53%. Gold and contributed 1.3% metals ranked second, with 32% of the GDP 2020 1% 1% 1% 1% 1% 1% USD 7,711M mining exports 2020 25% 15% 13% 14% 15% 15% 14% of Colombia's exports Coal 24% 25% 19% 18% 19% 32% 54% Gold and 37% precious metals Ferronickel 60% 61% 65% 66% 65% 53% 6% GDP mining sector mining GDP Other 2% minerals 2015 2016 2017 2018 2019 2020 1% Emeralds Other activities related to the sector Exploitation of mines – gold and metals Exploitation of other mines Exploitation of coal mines DANE, 07/2021 *GDP to constant prices (2015) information as of May 14, 2021 Foreign1.3% direct investment in Mining 3500 3,108 Annual mining FDI Global Nonferrous Exploration Budget 3000 2,424 2020 2500 2,165 1,803 2,504 2000 1,757 USD 8.3 billion 1,401 1500 1,155 1,021 1000 25% LATAM with more than USD 2.06 billion 608 USD USD Million 500 643 -187 Q1 0 52% of Budget destined to gold exploration 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 -500 23% of the Budget destined to copper exploration FDI MINING In 2020, mining sector accounted for 12.6% of the total FDI in Colombia, reaching In 2020, Colombia accounted for 5% or more Colombia than USD 103 million of LATAM’s exploration USD 1.02 billion budget Source: Central Bank of Colombia 11/06/2021, S&P Global Market Intelligence – World exploration trends 2020, Cochilco based on S&P Global. Potential Mineral Areas 1.3% KNOWLEDGE OF SUBSOIL POTENTIAL 73% High GEOLOGICAL potential 70% GEOPHYSICAL 36% GEOCHEMICAL FOCUS ▷ Increase mineral production. ▷ Diversifying the mining production matrix - “copper”. ▷ Raising the levels of formality of mining activity with the best practices of informal economies. A Country To Explore 1.3% “Mining activity in the Mining titles Applications Construction 2.9% of the territory” 50% materials 35% 28% Gold and precious 42% By contractual stage: metals (Exploitation: 86%, Exploration: 10% 14% Coal 10% and Construction and assembly: 4%) 4% Other minerals 4% 2.9% 8.2% 3% Emeralds 5% Of the territory Of the territory 1% Copper 4% Titled area Request area 3,293,084 ha 9,362,646 ha Continental area: 114,174,800 ha 7,273 10,146 Excludable areas Mining titles Applications 20% 22,940,138 ha Source: NMA - AnnA 15/07/2021 “Colombia has territory susceptible to exploration” Gold and Precious Metals Mining Activity Production 2,068 Titles 1.72% of national territory (1,966,550 ha) 2018 2019 2020Pr -------- -------- -------- “Four new gold projects Gold Gold Gold began production in 4,230 Applications 35.96 Ton 38.00 Ton 48.47 Ton 2018/2020” Silver Silver Silver 5.77% of national territory 16.69 Ton 14.48 Ton 19.93 Ton (6,583,867 ha) Platinum Platinum Platinum 270.46 Kg 177.95 Kg 413.99 Kg Source: NMA 15/07/2021, Pr: Preliminary Op. Aluvial Potential Areas El Bagre and Nechi El Limon Mina Carla Buritica 1,38% Segovia Gold and Precious Metals Cisneros Rionegro El Zancudo Soto Norte Mining Activity Titiribi Quebradona La Mina Yarumalito Andes Gold Marmato Gramalote Gold deposits are clustered in districts associated with El Roble metallogenic belts in the provinces of Antioquia, Condoto Santander, Tolima, Huila, Caldas, Nariño, Cauca and Choco Bolivar. Deposits are also found along the Pacific coast, Quinchia Gold which are formed by the erosion of the western San Antonio branches of the Andes mountain chain. With an Guayabales average tenor between 0.7 g/t y 10.4 g/t Au in Quinchia La probable reserves. Cumbre La Colosa Much of Colombia’s platinum comes from alluvial Cauca deposits, which are mostly located in the province of Project in exploration Choco. Next to production Project in exploitation Precious metals mining titles Applications Gold production by type of authorized mine operator (Ton) 41% Mining title 1% 1% 1% 2% 2% 2% 1% 2% 2% 2% 3% 1% 2% 8% 4% 12% 46% 59% 45% 41% of gold production in 40% Colombia comes from 48% small-scale mining 48% 46% 41% 2017 2018 2019 2020 Mining title Barequeros Formalization subcontracts Applications for legalization Special reservation areas Scrap metal Source: NMA 30/06/2021 54.1 Gold MINERAL RESOURCES AND RESERVES Mineral resources and reserves in 17 main gold projects according to International Information Standards (Moz) 7.5 16.6 14.3 5.8 Source: Resources and reserves projects reports including Buritica, Cisneros, El Roble, Gramalote, La Colosa, La Mina, Marmato, Op. Aluvial, Op. Subterranea, Quebradona, Quinchia, Quinchia Gold, San Matias, Measured and Indicated Inferred Segovia, Soto Norte, Titiribi and Yarumalito projects. Proven + probable Probable Calculation NMA June 2020. indicated resources resources resources reserves reserves Gold production is expected 18% in to increase by more than 2021 Gold projects with an approved 2020 – Buritica 2024* – Gramalote 10.3 g/t Au, 40.7g/t Ag 0.85 g/t Au – Indicated 78.2 Mt environmental M+I 16.02 Mt 2.14 Moz Au license 5.32 Moz Au, 21 Moz Ag 2025* – Quinchia Gold 2025* – Santa Ana 2025* – San Matias 3.3 g/t Au, 2.8 g/t Ag Recently discovered vein 0.29 g/t Au, 0.51% Cu, 2.7 g/t Ag 0.46 Moz Au outcrop and float that assay up 0.89 Moz Au to 4.7 g/t Au and 5,242 g/t Ag Pipeline of projects 2024* – Quinchia La Cumbre 2024* – Quebradona 2025* – Anza 0.71 g/t Au, 1.76 g/t Ag 0.66 g/t Au, 7.05 g/t Ag, 1.21% Cu Best intercepts to date include 0.57 Moz Au 2.22 Moz Au 15 m of 40 g/t Au and 41 m of 14 g/t Au; Zn, Pb y Cu Investments 2017 / 2021 * Estimated projection by NMA, 08/2021. Copper Mining Activity 1,106 Titles Production 0.9% of national territory (1,043,656 ha) 2018 2019 2020Pr -------- -------- -------- 1,540 Applications 9,920 7,644 9,372 2.9% of national territory Ton Ton Ton (3,401,847 ha) In Colombia, deposits with an average tenor between 1.25% and 2.51% Cu in Probable Reserves are explored and exploited Source: NMA 15/07/2021, Aticomining.com, nextsmallcap.com. Pr: Preliminary Potential Areas Copper Mining1,38% Activity Cesar San Matias Titiribi Colombia has three (3) copper belts where important prospects can be found: Murindo La Mina ✓ Central: Quebradona, El Pisno, Piedrasentada-Dominical y Pantanos Soto Norte Mazamorras Cobrasco ✓ Western: Acandi, Murindo, Pantanos-Pegadorcito, Andagueda y El Roble Piedrancha Quebradona ✓ Eastern: Andes, Infierno-Chili, Dolores y Mocoa Yarumalito San Antonio Guayabales El Dovio Cauca Mocoa Project in exploration Project in exploitation Copper mining titles Applications Source: https://www.loscerros.com.au/site/PDF/f9fedd30-8b4e-4df8-bddb-b3ee3aa775df/MergerPresentation, Figure: Earthquake Hypocentres & Benioff Zone Contours. 8,445.16 Copper 6,061.56 MINERAL RESOURCES AND RESERVES 2,875.05 Mineral resources and reserves in 9 main copper projects according to International Information Standards (Mlbs) 109.92 798.85 Probable reserves Inferred Proven + probable Indicated resources reserves Resources and reserves projects reports including El Roble, Quebradona, San Matias, Soto Norte, La Mina ,Titiribi , resources Yarumalito, Mocoa y Cauca. Calculation NMA June 2020. Measured and indicated resources Copper production expected next 5 to increase over the years El Roble Copper project in Proven + Probable reserves 1.00 Mt 3.02% Cu, 1.76 g/t Au Measured + Indicated resources 1.17 Mt 3.26% Cu, 2.33 g/t Au exploitation 84.3 Mlb Cu 2025* – Titiribi 2024* – Quebradona 2029* – Mocoa Measured + indicated resources Inferred resources 636 Mt Probable reserves 104.05 Mt* 285.8 Mt 0.33% Cu, 0.036% Mo 1.21% Cu, 0.66 g/t Au, 7.05 g/t Ag 0.16% Cu, 0.50 g/t Au 4.6 Blb Cu 2,769 Mlb Cu 654.4 Mlb Cu Pipeline of projects 2025* – Cesar 2025* – San Matias 2027* – La Mina Indicated resources 114.3 Mt Highlight values of 34,4% Cu Indicated resources 37 Mt 0.45% Cu, 0.26 g/t Au, 2.4 g/t Ag and 205 g/t Agi n samples 0.24% Cu, 0.74 g/t Au, 1.77 g/t 1,142.7 Mlb Cu 150.2 Mlb Cu * Estimated projection by NMA, 08/2021.