Other

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Costa Fuego

Copper-Gold Project

ASX: HCH

TSXV: HCH

OTCQX: HHLKF

www.hotchili.net.au August 2026

Exciting New Porphyry Discovery

Top Global Copper Development & Strategic Water Assets

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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 presentation does not purport to be complete or contain all of the information that may be material to the current or future business,

operations, financial condition or prospects of the Company and Hot Chili makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this presentation.

Certain information contained herein is based on, or derived from, information obtained from independent third-party sources, publicly available reports and other trade and industry sources. Hot Chili believes that such

information is accurate and that the sources from which it has been obtained are reliable; however, Hot Chili has not independently verified such information and does not assume any responsibility for the accuracy or

completeness of such information. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this news release.

Cautionary Note for U.S. Investors Concerning Mineral Resources

NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical

disclosure contained in this presentation has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Classification System. These standards differ from the

requirements of the U.S. Securities and Exchange Commission (“SEC”), and technical information contained in this press release may not be comparable to similar information disclosed by domestic United States

companies subject to the SEC’s reporting and disclosure requirements.

All amounts in this news release are in U.S. dollars unless otherwise noted.

Non IFRS Financial Performance Measures

“Total Cash Cost”, “Sustaining Capital”, “Expansion Capital”, “Start-Up Capital”, “All-in costs LOM”, “C1”, and “Free ” are not performance measures reported in accordance with International Financial Reporting

Standards (“IFRS”). These performance measures are included because these statistics are key performance measures that management uses to monitor performance. Management uses these statistics to assess

how the Costa Fuego Project compares against its peer projects and to assess the overall effectiveness and efficiency of the contemplated mining operations. These performance measures do not have a meaning

within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for

measures of performance in accordance with IFRS.

Mineral Reserves and Ore Reserves

The Costa Fuego Mineral Reserve is reported in accordance with the JORC Code (2012) and the CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing

Committee on Reserve Definition, as required by NI 43-101. References to "Mineral Reserves" mean "Ore Reserves" as defined in the JORC Code and references to "Proven Mineral Reserves" mean "Proved Ore

Reserves" as defined in the JORC Code. There is no material difference between the definitions of Probable Ore Reserves under the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves and

the equivalent definitions in the JORC Code (2012). Terms Mineral Reserve (CIM) and Ore Reserve (JORC) are equivalent, and this study uses Mineral Reserve for consistency.

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Glencore,

7.5% GS Group ,

5.1%

Blue Spec,

5.8%

Insiders,

1.6%

Institutional,

37.2%

Retail,

42.8%

Stock Exchanges ASX/TSXV: HCH

OTCQX: HHLKF

Shares Outstanding 202.8 M

Options & Performance Rights 6.4 M

Cash A$46 M (approx. as of 31 July 2026)

Market Capitalisation1 A$285 M (as of 31 July 2026)1

Corporate Overview

Capital Structure

Supporting Brokerage

Ownership

Investors

By Type

1 HCH:ASX share price of A$1.41 as of 31 July 2026

12-Month Share Price Performance

ASX Index S&P All Ordinaries since March 2026

ETF Coverage

Sprott Copper Miners ETF NASDAQ : COPP

Sprott Junior Copper Miners ETF NASDAQ : COPJ

Grizzle Growth ETF NYSE : DARP

ETF Shares ASX : CPPR

HCH:ASX Closing Price

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26

HCH:ASX Share Price (AUD)

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Strong Regional Interest

Recent transaction highlights potential of Huasco Valley for undeveloped copper projects

Share price (July 31st) C$1.90 A$1.41 / C$1.39

Transaction (Announced

June 3rd)

C$91 M private placement at

C$0.68

Market Cap undiluted C$537 M1 A$285 M / C$281 M

Market Cap fully diluted C$711 M1 A$294 M / C$290 M

Strategics Sumitomo & Gignac Family

(20%), Franco Nevada (~6%) Glencore (7.5%)

Project Domeyko Sulfuros Costa Fuego

Location Atacama Coastal belt, Huasco

Valley, ~104km from port

Atacama Coastal belt, Huasco

Valley, ~60km from port

Infrastructure Requires access for seawater,

power, port

Access granted for seawater,

power, port MOU executed

Permitting Early Stage Timelines reduced

Resource (M+I) 101 Mt @ 0.51% CuEq2 798 Mt @ 0.45% CuEq

Resource (Inferred) 266 Mt @0.48% CuEq2 203 Mt @ 0.31% CuEq

M+I/Inferred Resource 30% 80%

Reserves None 502 Mt @ 0.43% CuEq

Study Status PEA Optimised PFS incl La Verde

NPV8 Post tax US$328 M US$1.2 B

Startup Capex US$1.28 B US1.27 B

Production (CuEq) 52 ktpa2 116 ktpa first 14 years

First Production 2032 2031

Resource Growth Tricolor Exploration Target La Verde Maiden MRE 2026

Hot ChiliTintina Mines

1 Tintina: Market Caps are estimated post-placement and 100% project ownership. Strategic investors % based on post completion of transaction. Sources:

20260202_TTS_Technical-report_NI43-101_PEA_Domeyko-Sulfuros.pdf and 20260602_TTS_Announces-C91M-Private-Placement-and-Partnership_Gignac-

and-Sumitomo-Corp-1.pdf

2 Tintina CuEq. calcs US$4.20/lb Cu, US$2,200/oz Au, recoveries 87.4% Cu, 65.4% Au. Hot Chili CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) +

(Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne

× Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.30 USD/lb, Au=2,280 USD/oz, Mo=20 USD/lb, and Ag=27 USD/oz. Recoveries of 83%

Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

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Market Valuations (EV/lb) of Cu Developers Increasing

Sharp rallies by independent copper developers since mid-2025

EV = Enterprise Value, Cu Price Source - https://tradingeconomics.com/commodity/copper, see slide 33 for peer company details

While copper markets continue to strengthen, Hot Chili is trading significantly below the mean for its peer group

of 7 independent junior copper developers, with a published Preliminary Economic Assessment or Prefeasibility

Study, despite being one of the nearest-term, top-five production scale copper developers in the world

5.9 6.0 5.8 5.5

7.7

9.2

16.3

11.1

2.3 2.5 2.7

2.1

1.6 1.4

4.4

3.8

3.50

4.00

4.50

5.00

5.50

6.00

6.50

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

Dec-22 Mar-23 Jun-23 Sep-23 Nov-23 Feb-24 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 May-26 Aug-26

Copper Price (US$/lb Cu)

Market Valuation (US$ EV/lb CuEq)

EV/lb re-rate

opportunity

2.9x

Peer Group Mean Value (US$ EV/lb Proven + Probable Reserve CuEq metal)

HCH:ASX Value (US$ EV/lb Proven + Probable Reserve CuEq metal)

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Copper Project Transaction Values (P/NAV) Increasing

Strengthening copper and gold prices in a supply-constrained market

Source: Transaction Database - BMO (February 2026), Cu Price Source - https://tradingeconomics.com/commodity/copper

3.50

4.00

4.50

5.00

5.50

6.00

6.50

7.00

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

Nov-23 Mar-24 Jun-24 Sep-24 Dec-24 Apr-25 Jul-25 Oct-25 Feb-26 May-26

Copper Price (US$/lb Cu)

Price to Net-Asset Value (P/NAV) ratio

Median P/NAV

-

Copper Producers 0.55

0.90

0.78

0.63

P/NAV re-rate

opportunity

2.3x

Median P/NAV

–

Advanced Copper Developers 0.46

Project – Company

(Acquirer)

Copper Producer

Advanced Copper Developer (FS stage)

Copper Developer (PFS stage)

SolGold

(Jiangxi Copper)

New World Resources

(Kinterra)

Copper World – Hudbay

(Mitsubishi)

Josemaria – Lundin (BHP)

Santo Domingo –

Capstone (Orion)

MAC Copper

(Harmony Gold)

Neves-Corvo & Zinkgruvan – Lundin

(Boliden AB)

Cactus -Arizona Sonoran

(Hudbay)

Early Copper Developer (PEA stage)

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Advancing Three

Strategic Fronts

Exciting La Verde Porphyry Discovery

Advanced Costa Fuego Cu-Au Project

Strategic Huasco Water Asset

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Low Elevation Advantage – Lowers Economic Hurdle

Long-term Commitment to Risk-Reduction of Future Development

✓ Water Risk Removed

✓ Permitting Timelines Reduced

✓ Offtake Not Fully Committed1

✓ Power Line Risk Removed

✓ Access to Existing Infrastructure

✓ Port MOU Executed

✓ Project Registered for Priority Status

1 Glencore can purchase up to 60% of concentrate for first 8 years life of mine

– at benchmark terms but must maintain >7.5% ownership in Company