Announcement PDF = 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN: 49 625 763 957 SEPTEMBER 2026 QUARTERLY ACTIVITIES REPORT Elizabeth Creek advances towards key development decisions. HIGHLIGHTS Elizabeth Creek – Copper-Silver Project – Key PFS Data Delivered - High copper and silver extraction1. Preliminary laboratory tests on four representative Emmie Bluff composites averaged 94.4% copper, 95.9% silver and 39.7% cobalt extraction. The cobalt results represent potential upside given that existing published whole-ore chloride leach base case assumes no cobalt revenue. Further testwork is required to establish final recoveries and economic assumptions. - Hydrogeological drilling advanced. Drilling progressed at Windabout and Emmie Bluff during the quarter, with the six-hole, 1,378m programme completed in October. Pump testing will inform mine design, water supply and environmental approvals2. - LiDAR data drives site engineering3. The high-fidelity terrain model generated by the Company’s 480 square km LiDAR survey (delivered in July) has allowed for detailed surface water modelling and site infrastructure engineering during the quarter. - Approvals pathway defined4. Gazettal of the Environmental Scoping Report in July established the project-specific studies and assessments required to support a Mining Lease Application. Near-Term News Flow and Catalysts - Hydrogeological pump testing. Testing of the completed bores will assess groundwater flow and recharge, informing mine design, the site water balance and environmental approvals. - Processing pathway assessment. Chloride leach and flotation remain under assessment. Ongoing testwork, including further evaluation of cobalt residue flotation, will inform flowsheet selection based on recovery, cost and practicality. - PFS workstreams advancing. Processing, mine design and infrastructure studies continue towards completion of the Elizabeth Creek PFS. Corporate - Placement completed. Tranche 2 of the oversubscribed $6.7 million placement was completed in August at $0.13 per share, raising $1.975 million in cash before costs. Cash supports continued PFS work. Coda held $10.08 million in cash and cash equivalents at 30 September 2026. CONTENTS Overview 1.0 Projects & Assets 2.0 Tenement Schedule 2.1 Elizabeth Creek Copper Project Update 2.2 Corporate 3.0 Finance & Use of Funds 3.1 Upcoming and Subsequent Events 4.0 Events Subsequent to Quarter End 4.1 Near-Term Catalysts and Development Activities 4.2 Appendix 1 5.0 ASX RELEASE 2026 ASX:COD 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 1. Overview Discussing the quarter, Coda Minerals Chair, Keith Jones, said: “The September quarter advanced the fieldwork and technical studies supporting the Elizabeth Creek PFS. Hydrogeological drilling at Windabout and Emmie Bluff was completed in October. Most of the required field samples are now in hand, allowing greater focus on laboratory testing and project design. Pump testing and some geotechnical fieldwork remain. “Preliminary chloride leach tests returned high copper and silver extraction and averaged 39.7% cobalt extraction across four representative Emmie Bluff composites. Our published chloride leach economic case assumes no cobalt revenue. These results give us a basis to investigate whether cobalt can make an economic contribution through that process. “Both chloride leach and flotation remain under assessment. Recovery, cost and practicality will guide the flowsheet decision. Further variability and downstream testwork are required before final recovery and cost assumptions can be established. “We ended the quarter with $10.08 million in cash to support continued study work. Our priority is to complete the PFS and establish a clearer basis for assessing development of our 100%-owned copper-silver project in South Australia.” 1234 Figure 1: Hydrogeological drilling ongoing at Windabout. 1 Please see ASX Announcement “Strong Copper & Silver Results Drive Elizabeth Creek PFS - Amended Announcement”, rereleased on 25 September 2026 and available at https://codaminerals.com/announcements/69gMmX-elizabeth-creek-pfs-copper-silver-results-amended. 2 Please see ASX Announcement “Hydro Drilling Concludes, Oakden Exploration to Commence”, released on 28 October 2026 and available at URL https://codaminerals.com/announcements/gBG8pp-hydro-drilling-concludes-oakden-exploration-to-commence 3 Please see ASX Announcement “Key Engineering Data Delivered for Elizabeth Creek PFS”, released on 13 July 2026 and available at https://codaminerals.com/announcements/7629253. 4 Please see ASX Announcement “Elizabeth Creek Approvals Milestone Achieved”, released on 22 July 2026 and available at https://codaminerals.com/announcements/7644314. 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 2. Projects & Assets 2.1 Tenement Schedule In accordance with ASX Listing Rule 5.3.3, Coda provides the following information about its tenements for the quarter ended 30 September 2026. Table 1 Coda tenement schedule Tenement Project Location Grant Date Expiry Date Area km2 Ownership EL 6141 Elizabeth Creek SA 29 October 2017 28 October 2028 47 100% Tenements are held in a 70:30 split between Coda Minerals and Torrens Mining Ltd, a wholly owned subsidiary of Coda Minerals, resulting in effective 100% control by Coda Minerals. EL 6518 Elizabeth Creek SA 25 March 2020 24 March 2031 363 100% EL 6265 Elizabeth Creek SA 7 October 2018 6 October 2029 291 100% EL 6945 Elizabeth Creek5 SA 17 October 2023 16 October 2029 73 100% Held 100% by Coda Minerals. EPM 27042 Cameron River Queensland 10 October 2019 9 October 2029 22.4 100% EPM 27053 Cameron River Queensland 14 February 2020 13 February 2030 12.8 100% EL 6962 Kinloch SA 7 December 2023 6 December 2029 854 25% Held in a 25:75 split with Boss Energy. Coda has 100% base metals rights for the ground. EL 6963 Kinloch SA 13 December 2023 12 December 2029 990 25% EL 6964 Kinloch SA 18 December 2023 17 December 2029 555 25% EL 6965 Kinloch SA 18 December 2023 17 December 2029 785 25% 2.2 Elizabeth Creek Project Update During the quarter, Coda advanced multiple Pre-Feasibility Study (“PFS”) workstreams for its 100%-owned Elizabeth Creek Copper-Silver Project in South Australia. The Company’s focus for the quarter was on hydrogeological drilling in the field and metallurgical test work away from the field, but work progressed simultaneously in other areas as well, such as mining engineering, site infrastructure and environmental approvals. Major PFS Field Programmes Hydrogeological Drill Programme Coda's six-hole hydrogeological drill programme at Windabout and Emmie Bluff was largely carried out during the September quarter, with five holes commenced and three completed by quarter end. The programme was completed subsequent to quarter end, for a total of 1,378m drilled (764m of monitoring bores and 614m of production bores – see Table 2). The programme established three production bores and three associated monitoring bores (one of each at Windabout and two of each at Emmie Bluff – see Figure 2), designed to assess water drawdown across the strata likely to be affected by future mining. Existing historical hydrogeological data was deemed sufficient at MG14 and no additional drilling was undertaken at that deposit. Pump testing of the production bores will follow, informing dewatering, the site water balance and environmental approvals. Monitoring bore MB26EB0001 (479m) also served a secondary exploration purpose, being located approximately 300m NW of weakly mineralised Tapley Hill Formation material encountered in 2025.6 The hole did not intersect Tapley Hill 5 Tenure is adjacent to Elizabeth Creek but has not been formally integrated into the broader Elizabeth Creek Project. 6 DD25EB0038 intersected a sub-economic intercept of mineralised Tapley Hill Formation (0.76m @ ~0.81% Cu from 435.6m). For full details, including JORC Table 1, please see “Material Uplift in Copper and Silver Recoveries”, released to the market on 26 Jun 2025 and available at https://codaminerals.com/announcements/7023903. 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 Formation black shale. The result has no bearing on the Emmie Bluff Mineral Resource and has been incorporated into the Company's geological model to refine future exploration targeting. Table 2 Hydrogeological borehole collar data for the recently completed programme. Coordinates are reported as MGA94 Zone 53. Hole ID Prospect Tenement Hole Type Easting Northing RL Dip Azimuth EOH Start Date End Date PB26EB0001 Emmie Bluff EL 6265 Production 707627 6554201 191.4 -90 0 410 4/09/2026 24/10/2026 MB26EB0001 Emmie Bluff EL 6265 Monitoring 707626 6554164 190.5 -90 0 479 21/08/2026 30/08/2026 PB26EB0002 Emmie Bluff EL 6265 Production 707656 6554161 190.6 -90 0 126 29/09/2026 7/10/2026 MB26EB0002 Emmie Bluff EL 6265 Monitoring 707653 6554196 191.7 -90 0 158 8/10/2026 16/10/2026 PB26WIND0001 Windabout EL 6518 Production 701422 6525402 96.8 -90 0 78 28/07/2026 6/08/2026 MB26WIND0001 Windabout EL 6518 Monitoring 701411 6525446 96 -90 0 127 21/07/2026 27/07/2026 Airborne LiDAR survey delivered7 A 480km² fixed-wing airborne LiDAR survey was flown over the Project during the June quarter. The processed terrain model and high-resolution imagery were delivered during the quarter, and are now being used across engineering, mining, environmental and approvals studies. Elizabeth Creek PFS: Other Preliminary Chloride Leach Variability8 During the quarter, Coda completed a preliminary (“pre-variability”) laboratory test programme on its whole-ore chloride leach flowsheet for Elizabeth Creek. The work was undertaken by AMAC Process Solutions in Western Australia on five Emmie Bluff composites and one Windabout composite, selected to cover a range of head grades and copper mineralogies. All variability tests used Elizabeth Creek site water, after a separate direct comparison showed that site water performed in line with fresh tap water. After 24 hours of leaching (including a residue wash stage), the four representative Emmie Bluff composites averaged 94.4% copper and 95.9% silver extraction, with peak extractions of 97.2% copper and 99.7% silver. The fifth Emmie Bluff composite, which was deliberately selected to represent low-quality potential feed ore, being very low-grade (approximately 0.4% Cu, 4g/t Ag) and high in chalcopyrite, was tested as a proof of concept rather than as a representative sample. Despite this, the sample still returned 90.0% copper and 86.8% silver extraction. The composite selected from Windabout returned 93.4% copper extraction and 96.8% Ag extraction from a head grade of 1.03% Cu and 14.2 g/t Ag, supporting the broader applicability of the process. The copper and silver results achieved were broadly consistent with Scoping Study level estimates and continue to support whole-ore chloride leach as an option for the PFS. Table 3 Cu, Co and Ag extraction from Emmie Bluff and Windabout pre-variability composites. Mineralogy is copper deportment (% of Cu hosted in each mineral group) by QEMScan; the remainder is typically Cu-S-Fe intergrowths or other phases. Shaded composites 7 Please see ASX Announcement “Key Engineering Data Delivered for Elizabeth Creek PFS”, released on 13 July 2026. 8 Please see ASX Announcement “Strong Copper & Silver Results Drive Elizabeth Creek PFS – Amended Announcement”, released on 25 September 2026 (amending the announcement of 21September 2026 to correct the basis of the head grades shown in its Table 1; no extraction result or conclusion was affected) and available at https://codaminerals.com/announcements/69gMmX-elizabeth-creek-pfs-copper-silver-results-amended. 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 are considered by the Company to be representative of expected Emmie Bluff production based on grade. Feed grades are assayed head grades. 24-hour results include a wash step to capture precipitated metal solids; unwashed 8-hour results are not shown (–). Cobalt data is not available (n/a) for the Windabout sample due to a mass imbalance between fluid and solid assays; the test is being repeated. Composite Sample Cu Mineralogy (% deportment) Feed Grade Extraction (8 hours) Extraction (24 hours) Chalcocite, Covellite, Bornite Chalcopyrite Carrollite Cu (%) Ag (g/t) Co (ppm) Cu Ag Co Cu Ag Co DD26EB0050_Upper 40 21 7 1.11 12.2 820 – – – 87.0% 90.8% 34.2% DD26EB0051_Upper 58 11 2 0.69 11.2 245 – – – 97.2% 99.7% 51.4% DD25EB0046_Merged 64 10 2.5 1.51 14.5 995 93.6% 97.1% 43.6% 96.9% 97.7% 51.7% DD26EB0050_Lower 51 23 3 2.13 11.4 1,025 79.3% 85.8% 12.8% 96.4% 95.3% 21.5% DD26EB0051_Lower 16 53 0 0.41 4.1 110 82.2% 82.4% 26.1% 90.0% 86.8% 22.0% DD25WIND0004_Upper 33 17 5 1.03 14.2 587 – – – 93.4% 96.8% n/a Cobalt extraction, while variable, was encouraging. It averaged 39.7% across the four representative Emmie Bluff composites and exceeded 50% in two samples (peaking at 51.7%). The principal cobalt host mineral at Elizabeth Creek, carrollite, is resistant to oxidative leaching, and improving and stabilising cobalt extraction remains a key priority. Coda’s published whole-ore chloride leach base-case economics assume no cobalt revenue; assuming continued replication of these or similar results, the Company will seek to include cobalt in future economic assumptions. Work to recover the cobalt remaining in the leach residue has since returned positive flotation results, reported after quarter end (see Cobalt Residue Flotation under Events Subsequent to Quarter-End, below). Site Water Testing A separate test was undertaken, reported in the same announcement, to assess the impact of site water on leach performance. A representative Emmie Bluff composite leached for 22.5 hours in Elizabeth Creek water returned copper and silver extractions 0.7 percentage points higher (95.8% vs 95.1% Cu extraction, 93.6% vs 92.9% Ag extraction) and cobalt extraction 6.6 percentage points higher (30.6% vs 24% Co extraction) than the same composite leached in Perth tap water. The Company considers that the natural salinity of the site water may assist leaching, although further testing would be required to confirm this. Table 4 Cu, Co and Ag extraction from an Emmie Bluff composite leached in Elizabeth Creek site water vs Perth tap water. Mineralogy is reported as for the variability composites above; Ag and Co feed grades are estimated. 22.5-hour results include a wash step; 8- hour results are unwashed. No 8-hour cobalt result was reported for the tap water test (–). Composite Sample Cu Mineralogy (% deportment) Feed Grade Extraction (8 hours) Extraction (22.5 hours) Chalcocite, Covellite, Bornite Chalcopyrite Carrollite Cu (%) Ag (g/t) Co (ppm) Cu Ag Co Cu Ag Co Composite (Site Water) 25 44 2 1.15 12 470 82.5% 86.2% 2.4% 95.8% 93.6% 30.6% Composite (Tap Water) 25 44 2 1.15 12 470 84.5% 88.0% – 95.1% 92.9% 24.0% The final leach duration remains under assessment and is expected to be longer than assumed in the Scoping Study. This would be expected to increase tankage requirements and associated capital cost, although it may be partly offset by a higher solids ratio; any impact is yet to be quantified. Average net metal recovery assumed in the PFS is expected to remain close to the previously published estimates of 94.8% copper and 98.2% silver, though further work is required to confirm these figures. Final PFS recovery assumptions will depend on completion of a broader variability programme, including additional testwork at MG14 and Windabout. This programme has since commenced, subsequent to quarter end. Additional work, including downstream recovery testwork (currently underway at AMAC Process Solutions) and 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 process modelling (also underway with Ausenco as principal process engineering consultant) will also be required before a final decision on the PFS flowsheet can be made. The results described above are derived from laboratory-scale batch testwork and remain preliminary. They should be considered indicative under the stated laboratory conditions, not an absolute measure of final metallurgical recovery. Investors are cautioned that these results are not definitive and should not be relied upon as a basis for investment decisions; further testwork will be required before any production or economic outcomes can be confirmed. Flowsheet development work continued, with work on both the chloride leaching and flotation flowsheet options. Significant cobalt recoveries were achieved via flotation of leach residues (reported in October: see Events Subsequent to Quarter-End, below, for details). Environmental approvals Early in the quarter, the South Australian Department for Energy and Mining ("DEM") gazetted the Project's Scoping Report9, a key milestone on the path to a Mining Lease Application. Gazettal followed a lengthy period of technical and regulatory work to settle the project-specific environmental studies and data collection required to support that application. The endorsed Scoping Report establishes the project-specific terms of reference for the Mining Lease Application, providing Coda with greater certainty around the scope of studies, assessments and stakeholder engagement required. This represents an important step on the approvals process and provides a clear pathway for progressing the necessary environmental and technical work alongside the ongoing PFS. Coda also advanced laboratory work pertaining to its waste rock characterisation study during the quarter, and anticipates completion of this study in Q4 of 2026. Mine planning and infrastructure Mine planning has been supported during the quarter by completion of the geotechnical testwork programme and delivery of draft geotechnical reports to Coda’s mining engineering consultants. The Company is currently undertaking final trade-off studies into equipment selection, mining methods and underground tailings storage, among other opportunities. Mining method decisions are expected to be formalised in the current quarter. Surface water modelling was completed during the quarter using the data collected during the LiDAR survey, and will inform overall project layout and non-process infrastructure. TSF planning was supported by a field visit during the quarter, and government approvals are currently pending to commence a geotechnical test-pitting programme to inform TSF design, though the total size of the TSF is yet to be finalised pending a decision on underground tailings disposal. 9 Please see ASX Announcement “Elizabeth Creek Approvals Milestone Achieved”, released on 22 July 2026 and available at https://codaminerals.com/announcements/DG19wg-elizabeth-creek-approvals-milestone-achieved 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 Figure 2 Production bore locations at Emmie Bluff and Windabout. Monitoring bores have been drilled on the same cleared pads, within 50m of their associated production bores. 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 3. Corporate 3.1 Finance & Use of Funds Pursuant to ASX Listing Rule 5.3.2, the Company confirms that there were no mining production and development activities during the quarter by the Company. The Company incurred total cash outflow from operating activities of $2.46 million for the quarter ended 30 September 2026. The exploration and evaluation expenditure for the pre-feasibility study included initial drilling expenditure for the Hydrogeological programme, completion of the LiDAR survey, advancement of the metallurgical test work and technical advisor fees for various PFS workstream totalling $1.78 million. The quarterly corporate costs included annual insurance renewals, annual subscription costs together with final annual compliance costs and associated consultants, investor relations and conference costs and general admin and office costs of $0.45 million. Payments to staff (after allocation of costs to exploration expenditure) amounted to $380k which included year-end bonuses of $165k. Coda received $104k in interest on cash balances during the quarter. During the quarter ended 30 September 2026, a total of $272k was paid to the Directors of the Company. Please refer to Section 6.1 of the Appendix 5B below and FY2026 Annual Report for full details. The Company issued 15,384,617 fully paid ordinary shares at an issue price of $0.13 per share as part of a Tranche 2 placement to sophisticated investors announced in early June 202610. The Company raised $1,975,000 (before costs) and issued share in lieu of a payment for services totalling $25,000. The company also issued a total of 12,884,616 placement options for both Tranche 1 and Tranche 2 share issues on a ratio of one option for every four shares subscribed. The options are listed on the ASX under the security code of CODO. The Company issued 7,700,000 unquoted options at an exercise price of $0.26 each expiring 3 years after issue to brokers as part of their fees structure for capital raising service. The Company issued 5,361 fully paid ordinary shares on exercise of options at $0.15 and issued 800,000 fully paid ordinary shares under an agreement with Cumulus Wealth for corporate advisory services. The Company ended the quarter with $10.08 million in cash and cash equivalents as it continues to progress the pre- feasibility study on the Company’s flagship Elizabeth Creek project. 4. Upcoming and Subsequent Events 4.1 Events Subsequent to Quarter-End Hydrogeological drilling completed11 As detailed above, the Company’s hydrogeological drilling programme was concluded subsequent to the reporting period, though the bulk of the work was done in the previous quarter. Full details are presented above. Metallurgy12 Subsequent to quarter end, Coda reported positive results from laboratory flotation testwork on residue from its whole- ore chloride leach programme. The work builds on the September quarter leach results (see Preliminary Chloride Leach Variability, above), in which an average of 39.7% of the cobalt was extracted from representative Emmie Bluff composites, leaving most of the cobalt in the leach residue. 10 Please see ASX Announcement “$6.7m Placement to Expedite PFS Workstreams”, released on 1 June 2026 and available at URL https://codaminerals.com/announcements/7561524 11 Please see ASX Announcement “Hydro Drilling Concludes, Oakden Exploration to Commence”, released on 28 October 2026 and available at URL https://codaminerals.com/announcements/gBG8pp-hydro-drilling-concludes-oakden-exploration-to-commence 12 Please see ASX Announcement “Positive Cobalt Flotation Results at Elizabeth Creek”, released on 22 October 2026 and available at https://codaminerals.com/announcements/pQzVVX-positive-cobalt-flotation-results-at-elizabeth-creek. 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 The tests simulated a conventional flotation stage between the leach and tailings disposal, primarily targeting carrollite. In the latest test (JR012), 83% of the cobalt in the leach residue was recovered into a 1.48% cobalt concentrate representing just 4.0% of the residue mass, from a head grade of 717ppm cobalt. An earlier test on a different, higher- grade residue (JR009) recovered 73% of the cobalt to a 1.28% cobalt concentrate at 5.5% mass pull. Copper and silver were also upgraded into the concentrate. Emmie Bluff alone contains approximately 23kt of cobalt, none of which contributes revenue under the Company’s current published leach-case economics. Coda’s preferred option is to return the concentrate to the chloride leach circuit, potentially avoiding a separate hydrometallurgical circuit. Re-leach testwork is underway, to be followed by locked-cycle and variability testing and an economic assessment that will determine whether residue flotation is included in future project studies. These results are from preliminary, laboratory-scale, open-circuit batch tests and are indicative only. Recoveries relate to cobalt contained in the leach residue, not in the original ore. The leach and flotation results come from different samples and tests, have not been demonstrated together in an integrated test, and should not be combined to estimate project recovery. Realising these recoveries would be expected to require additional capital expenditure not assumed in any Elizabeth Creek economic analysis released by the Company to date. Investors are cautioned that these results are not definitive and should not be relied upon as a basis for investment decisions. Finally, detailed comminution studies have been undertaken across all three major deposits (MG14, Windabout and Emmie Bluff), with results expected to be finalised in the coming weeks. 4.2 Near-Term Catalysts and Development Activities Priority during the upcoming months will be given to the completion of trade-off studies, including the key decision between leach and flotation based flowsheets, as well as detailed mining, geotechnical, process and non-process engineering studies. Metallurgy Metallurgical testwork is expected to continue in the December quarter. Assays are currently pending to assess various potential improvements to cobalt extraction and recovery from chloride leaching, and a second round of variability testwork on the same leaching flowsheet has commenced. Similarly, flotation variability has commenced with a separate lab, allowing a final assessment of both potential processing pathways to be completed before the end of the year. Mine design, geotechnical and infrastructure With geotechnical information now collected and preliminary reports received, Coda is continuing to progress mine design and planning, which is anticipated to allow completion of both the mine plan and the updated Mineral Resource Estimate. Tailings Storage Facility design will advance in the December quarter following completion of geotechnical fieldwork. Environmental approvals Aquifer pump testing will commence immediately following the Oakden exploration programme, measuring groundwater flow and recharge rates. Though partially driven by environmental approvals, these results will also support a full site water balance and inform mining studies. The outcomes will guide the next field steps, potentially including a further programme later in the year to define available water resources and plan a production borefield or, should water risk be assessed as low, deferral of this work to the Definitive Feasibility Study stage. Alongside this work, Coda will continue to advance key environmental workstreams, including greenhouse gas studies, waste rock characterisation, baseline soil surveys and more. -- 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 This announcement has been authorised for release by the Board of Coda Minerals Ltd Further Information: Chris Stevens Chief Executive Officer Coda Minerals Limited info@codaminerals.com 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 5. Appendix 1 5.1 Elizabeth Creek Mineral Resources Table 5 Aggregated Mineral Resources at Elizabeth Creek OPEN PIT Proposed Tonnage Cut-off Copper Cobalt Silver Zinc Copper Equivalent Resource Category Type Mining Mt Grade Grade Contained Grade Contained Grade Contained Grade Contained Grade Contained Method (% Cu) Metal (t) (ppm Co) Metal (t) (g/t Ag) Metal (Moz) (ppm Zn) Metal (t) (% CuEq) Metal (t) MG14 Indicated Zambian Open Pit 1.8 0.5% CuEq 1.2% 22,700 330 600 14 0.8 1.7% 30,600 Cattle Grid South Inferred Breccia Open Pit 5.8 0.2% Cu 0.6% 36,000 120 700 3.5 0.7 684 4000 36,00013 Windabout Indicated Zambian Open Pit 17.7 0.5% CuEq 0.8% 136,100 490 8700 8 4.6 1.4% 249,100 Sub Totals Indicated Zambian Open Pit 19.5 0.5 CuEq 0.8% 158,800 480 9300 8.5 5.4 1.4% 316,000 (Open Pit) Inferred Breccia Open Pit 5.8 0.2% Cu 0.6% 36,000 120 700 3.5 1 684 4,000 UNDERGROUND Proposed Tonnage Cut-off Copper Cobalt Silver Zinc Copper Equivalent Resource Category Type Mining Mt Grade Grade Contained Grade Contained Grade Contained Grade Contained Grade Contained Method (% Cu) Metal (t) (ppm Co) Metal (t) (g/t Ag) Metal (Moz) (ppm Zn) Metal (t) (% CuEq) Metal (t) Indicated Zambian Underground 37.5 1% CuEq 1.3% 485,000 590 22,000 17 20.6 1800 66000 1.9% 715,000 Emmie Bluff Inferred Zambian Underground 2.7 1% CuEq 0.9% 26,000 280 1,000 12 1.1 1700 5000 1.3% 36,000 Sub Total (Underground) Combined Zambian Underground 40.2 1% CuEq 1.3% 511,000 570 23,000 16.8 21.7 1700 70000 1.9% 751,000 Project Wide Total14 65.5 Mt 705,800t Contained Cu 33,000t contained Co 28 Moz Contained Ag 75,000t Contained Zn15 1,067,000t contain CuEq 13 No Copper Equivalent was calculated for Cattle Grid South. Contained CuEq tonnes quoted in this column for Cattle Grid South consist of contained copper only. 14 Total figures have been aggregated purely for convenience and to contextualise the specific contribution of individual Mineral Resource Estimates to the overall project scale. Grades reported are tonnage-weighted averages of the individual Mineral Resource Estimates. Coda notes that the total figure includes resources reported at varying cut-off grades, with varying estimation techniques, metallurgical properties and proposed mining methods. Individual Mineral Resource Estimates should be considered individually. A total copper equivalent figure has not been disclosed as Coda does not believe it is currently appropriate to calculate a copper equivalent for the Cattle Grid South Mineral Resource Estimate. Please see below sections Statement Regardi