For personal use only ASX: HCH TSXV: HCH OTCQX: HHLKF www.hotchili.net.au Costa Fuego Copper -Gold Project Exciting New Porphyry Discovery, Top Global Copper Development & Strategic Water Assets February 2026 1 Disclaimers This presentation has been prepared by management of Hot Chili Limited ("Hot Chili" or the "Company") and does not represent a recommendation to buy or sell securities of the Company. Investors should always consult their investment advisors prior to making any investment decisions. This ...

Core Highlights - Hot Chili Limited announced strong drill results from its La Verde copper-gold porphyry discovery, located 30 km south of the Costa Fuego project in Chile's Atacama region [1] - Significant intersections include DKD036 recording 150 m grading 0.52% CuEq (0.37% Cu, 0.21 g/t Au) from 30 m depth and DKD035 recording 220 m grading 0.47% CuEq (0.37% Cu, 0.14 g/t Au) from 38 m depth [1][2] - The results indicate a higher-grade, near-surface copper-gold zone, which is expected to contribute positively to the financial metrics of Hot Chili's March 2025 Pre-Feasibility Study [1] Drill Results - DKD036 includes 38 m grading 0.70% CuEq (0.55% Cu, 0.21 g/t Au) from 117 m depth [1] - DKD035 includes 68 m grading 0.64% CuEq (0.52% Cu, 0.15 g/t Au) from 187 m depth [1] - The latest results are located up-dip from previously reported intersections, indicating potential for further resource expansion [1] Mineralisation and Recovery - Visual estimates from drillhole DKD039 show strong copper porphyry-style mineralisation with chalcopyrite abundance estimated to average greater than 1% [1] - Initial metallurgical testwork indicates recoveries of 83% Cu, 56% Au, 83% Mo, and 37% Ag, similar to those recorded at Costa Fuego [1] - The copper equivalent (CuEq) formula used for calculations incorporates various metal prices, including Cu at 4.50 USD/lb and Au at 3,150 USD/oz [1][2] Future Plans - The company plans to expand its Phase two drill program, with a second drill rig expected to commence shortly [1] - Further exploration activities are aimed at extending the mineralised footprint at La Verde, with drilling having commenced on September 22, 2025 [2]

Core Insights - ATERRA Metals Inc. has executed option agreements for the Totora copper-gold porphyry properties located in Chile, which includes multiple porphyry systems such as the Frontera deposit and two advanced prospects, Totora and Clinton [1][2] Group 1: Project Overview - The Totora Project is situated 60 kilometers south of Vallenar in Chile's Region III and hosts several copper-gold porphyry systems [1] - The project includes the Frontera, Taruca, Clinton properties, and a newly added Sevilla concession, which has evidence of artisanal mining activities [4] Group 2: Financial and Operational Updates - ATERRA recently closed a private placement of $2.78 million, which will support the exploration activities at the Totora Project [2] - The company plans to mobilize a field crew to start exploration activities immediately, focusing on re-logging historical drill core and preparing for geophysical studies [2] Group 3: Historical Results and Resource Estimates - Historical drilling results from the Frontera deposit indicate 16 million indicated tonnes grading 0.66% CuEq and 34 million inferred tonnes grading 0.64% CuEq [6][8] - The Clinton property has historical drilling highlights, including 166 meters grading 0.63% CuEq [12] - The Totora porphyry has been the focus of various drill programs, with approximately 10,140 meters completed, outlining a mineralized system extending to depths of up to 500 meters [15] Group 4: Geological Context - The copper-gold porphyries in the Totora area are associated with quartz diorite and dacitic intrusions linked to the Domeyko Intrusive Complex, with mineralization closely related to regional fault structures [5]

Core Insights - Hot Chili Limited has reported significant assay results from its La Verde copper-gold discovery, highlighting the strategic importance of this project against a backdrop of record copper and gold prices [2][4][12] Drilling Results - The latest diamond drillhole DKD033 recorded 495 meters grading 0.38% copper and 0.10 g/t gold from a depth of 3 meters, including 123 meters grading 0.50% copper and 0.13 g/t gold from 289 meters depth [6][7] - Drillhole DKD034 returned 426 meters grading 0.37% copper and 0.08 g/t gold from 194 meters depth, with notable intersections including 220 meters grading 0.43% copper and 0.10 g/t gold from 322 meters depth [9][6] - The results indicate a significant expansion of La Verde's high-grade core, with further assays pending for six additional drillholes [5][11] Project Significance - Costa Fuego is identified as one of the few independent, large-scale, near-term copper projects globally, with a notable leverage to copper prices; for every US$0.10/lb increase in copper price above US$4.30/lb, the project's NPV increases by approximately US$100 million [3][12] - The addition of La Verde is expected to enhance the financial metrics of Hot Chili's March 2025 Pre-feasibility Study, with long-term consensus prices for copper and gold significantly higher than previous assumptions [12][3] Future Plans - Diamond drilling activities have resumed as of January 12, 2026, with plans to target further expansions of La Verde's high-grade core and additional lateral extensions [13][19] - The company anticipates providing further results as assays are received, indicating ongoing exploration efforts [13][11]

Core Insights - Hot Chili Limited has reported significant drilling results from its La Verde copper-gold discovery, indicating a promising expansion of its mineral resource base and future operational scale [2][4][10] Drilling Update - The second phase of diamond drilling commenced on September 22, 2025, with six drillholes completed, aiming to extend the initial discovery footprint of +0.2% Cu by 750 m laterally and 400 m in depth [3][4][8] - The standout result from drillhole DKD032 showed 529 m grading 0.41% Cu and 0.21 g/t Au, with notable intervals including 148 m grading 0.60% Cu and 0.30 g/t Au from 70 m depth [5][6] Mineralization Insights - The new drill results confirm the convergence of higher-grade Cu-Au mineralization centers at depth, significantly expanding the vertical and lateral extent of the northeastern higher-grade mineralization center [6][8] - The vertical extent of the mineralization system has been pushed to approximately 600 m deep, with further lateral growth to the east and west [8] Future Implications - The drilling results have implications for the growth of Hot Chili's Costa Fuego Mineral Resource base, potentially adding significant open pit material to the mine schedule and enhancing financial metrics for the March 2025 Pre-feasibility Study [4][10] - Assay results for five remaining diamond drillholes are pending, with expectations for further updates in the coming weeks [9][10]

Core Viewpoint - Hot Chili Limited has commenced diamond drilling at the La Verde copper-gold discovery in Chile, aiming to expand the initial shallow porphyry discovery and enhance the Costa Fuego project's financial metrics [1][4][6]. Drilling Operations - Diamond drilling began on September 22, 2025, with one drill rig operating on a double-shift basis [3]. - This second phase of drilling follows a successful first-pass reverse circulation (RC) drill program that confirmed a significant copper discovery footprint measuring 1,000 m by 750 m and extending up to 400 m in vertical depth [4]. Mineralization and Targets - Over half of the initial drill holes ended in significant mineralization, indicating that the porphyry discovery remains open at depth and laterally [4]. - Three distinct higher-grade centers have been confirmed near the surface, and the current drilling will target depth extensions to these centers [5]. Financial Implications - Impact modeling suggests that additional open pit material could be added to the Costa Fuego's 20-year mine schedule, potentially increasing mine life and improving financial metrics for the March 2025 Pre-feasibility Study [6]. Regulatory and Future Plans - Regulatory applications for further drill access at La Verde are in the final stages of approval, which will allow testing of lateral extensions to the discovery footprint and nearby targets [7].

Core Viewpoint - Hot Chili Limited successfully completed a fully subscribed entitlement offer, raising A$14.1 million to support its Costa Fuego Project and other strategic initiatives [2][3][4]. Group 1: Entitlement Offer Details - The entitlement offer was structured as a pro-rata non-renounceable offer of 2 new shares for every 13 shares held, at an issue price of A$0.60 per share [2][4]. - A total of 23,648,329 new shares were validly applied for, raising A$14,188,997 before costs [5][7]. - The offer closed on September 2, 2025, and the new shares will be issued on September 9, 2025 [4][5]. Group 2: Use of Proceeds - Proceeds from the entitlement offer will fund the completion of asset-level strategic partnerships, diamond drilling at La Verde, and ongoing development studies [3][7]. - The funding will also support general working capital needs for the company [3][7]. Group 3: Market Response and Future Plans - The entitlement offer received strong demand from shareholders in Australia, Canada, and other international jurisdictions [3][7]. - The successful fundraising is seen as a validation of the Costa Fuego Project, which is one of the few large-scale copper projects with near-term production timelines [4][7].