Announcement PDF Strategic Acquisition of Peel Mining February 2026 Reinforcing Aeris as a leading Australian mid-tier copper and gold producer Not for release to US wire services or distribution in the United States Disclaimer This investor presentation has been prepared by Aeris Resources Limited (“Aeris” or the “Company”) and Peel Mining Limited (“Peel”). By attending an investor presentation or briefing, or accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out below. This presentation has been prepared in relation to the proposed acquisition by Aeris of all of the issued capital of Peel by way of a Scheme of Arrangement (“Scheme”) and a proposed demerger (“Demerger”) of certain Peel assets into a newly formed company. Further information on the Scheme and the Demerger (together, the “Transaction”) is included in this presentation and in the announcement of today’s date released by Aeris on the Australian Securities Exchange (“ASX”) Market Announcements Platform. SUMMARY INFORMATION This presentation is for information purposes only and should be read in conjunction with the most recent financial reports and other documents lodged by Aeris and Peel with the ASX in connection with its continuous disclosure obligations. This presentation does not purport to contain all of the information that an investor should consider when making an investment decision nor does it contain all of the information which would be required in a product disclosure statement or prospectus prepared in accordance with the requirements of the Corporations Act. No reliance should be placed on the information or opinions contained in this presentation, which are provided as at the date of this presentation (unless otherwise stated) and to the maximum extent permitted by law, neither Aeris nor Peel have an obligation to update the information contained in this presentation. An investment in securities is subject to known and unknown risks, some of which are beyond the control of Aeris and Peel. Investors should consult with their own legal, tax, business and/or financial advisors in connection with any acquisition of securities. FINANCIAL INFORMATION All financial information set out in this presentation is expressed in Australian Dollars unless stated otherwise. Investors should be aware that certain financial measures included in this presentation are “non-IFRS financial information” under ASIC Regulatory Guide 230: “Disclosing non- IFRS financial information” published by ASIC and also “Non-GAAP financial measures” within the meaning of Regulation G under the US Securities Exchange Act of 1934 and are not recognised under the AAS or IFRS. Aeris and Peel believe the non-IFRS financial information and non-GAAP financial measures provide useful information to users in measuring the financial performance and condition of Aeris or Peel. However, investors should note that the non-IFRS financial information and non-GAAP financial measures do not have standardised meanings prescribed by AAS or IFRS. Therefore, the non-IFRS financial information is not a measure of financial performance, liquidity or value under the IFRS and may not be comparable to similarly titled measures presented by other entities, nor should the information be construed as an alternative to other financial measures determined in accordance with AAS or IFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial information included in this presentation. FUTURE PERFORMANCE AND FORWARD-LOOKING STATEMENTS This presentation contains certain ‘forward-looking’ statements, opinions and estimates, which are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks and uncertainties beyond the control of Aeris, Peel and their officers. This includes statements about market and industry trends, which are based on pretations of current market conditions. Indications of, and guidance on, future earnings and financial position and performance are forward-looking statements. As are statements containing the words “expect”, “anticipate”, “aiming”, “estimate”, “intend”, “believe”, “guidance”, “should”, “could”, “may”, “will”, “predict”, “plan” and other similar expressions. Forward-looking statements are based on information available to Aeris and Peel as at the date of this presentation and should not be relied upon as an indication or guarantee of future performance. Except as required by law or regulation (including the ASX Listing Rules), none of Aeris, Peel their representatives or advisers undertakes any obligation to provide any additional or updated information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise. Investors are strongly cautioned against placing undue reliance on forward-looking statements, especially considering the current economic climate and significant volatility, uncertainty and disruption caused by world events such as the COVID-19 pandemic and national hostilities and associated economic changes. DISCLAIMER To the maximum extent permitted by law, Aeris and each of its respective related bodies corporate, shareholders and affiliates, and each of their respective officers, directors, partners, employees, representatives, affiliates, agents, consultants and advisers (each a “Limited Party”): • expressly disclaim any and all responsibility and liability (including, without limitation, any liability arising from fault, negligence or negligent misstatement) for any direct, indirect, consequential or contingent loss or damage arising from this presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this presentation; • disclaim any obligations or undertaking to release any updates or revisions to the information in this presentation and; • do not make any representation or warranty, express or implied, as to the accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this presentation or that this presentation contains all material information about Aeris or the Transaction or that a prospective investor or purchaser may require in evaluating a possible investment in Aeris or acquisition of shares in Aeris, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement. 2 Disclaimer NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES This Presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The securities referred to in this Presentation have not been, and will not be, registered under the US Securities Act of 1933 (the "US Securities Act") or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, to any person in the United States or to any person acting for the account or benefit of a person in the United States unless they have been registered under the US Securities Act (which neither Aeris nor Peel has an obligation to do or to procure) or are offered or sold pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and any applicable securities laws of any state or other jurisdiction of the United States. JORC Code This presentation is a public report as defined by The JORC Code (2012) Edition (“JORC Code”) and has been prepared in accordance with the JORC Code and the ASX Listing Rules. The presentation contains references to previously reported Mineral Resources, Ore Reserves and Exploration Results of Aeris and Peel. No new Mineral Resources, Ore Reserves or Exploration results are reported in this presentation. NO NEW INFORMATION STATEMENT - Aeris This presentation refers to Exploration Results, estimates of Mineral Resources and Ore Reserves contained in the Group Mineral Resource and Ore Reserve Statement as at 31 December 2024 (announced on 22 July 2025 “Group Mineral Resource and Ore Reserve Statement”), as well as an Ore Reserve Estimate for Constellation (announced on 28 October 2025, “Maiden Open Pit Ore Reserve Estimate for Constellation Project”) and prior market announcements released by Aeris, (“Prior Reports”). The Prior Reports are footnote referenced in this presentation and available from: https://www.aerisresources.com.au/investor. Aeris confirms that it is not aware of any new information or data that materially affects the information included in the Prior Reports and, in the case of Exploration Results, estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the results or estimates in the Prior Reports continue to apply and have not materially changed. Aeris confirms that the form and context in which the Competent Person’s findings are presented in this document have not been materially modified from the Prior Reports. NO NEW INFORMATION STATEMENT - Peel Previous results referred to herein have been extracted from previously released ASX announcements included in footnote references. Previous announcements and reports are available to view on www.peelmining.com.au and www.asx.com.au. In the case of estimates of mineral resources or ore reserves, Peel confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. Peel confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. Peel confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. AGGREGATION OF ESTIMATES This presentation contains pro-forma combined Mineral Resource and Ore Reserve estimates which represent an aggregation of estimates (with rounding) of Aeris and Peel. These pro-forma estimates do not represent new or independent estimates. The aggregated figures are presented for illustrative and comparative purposes only, are not representative of any individual deposit and should be read in conjunction with the individual project-level Mineral Resource and Ore Reserve estimate statements included in Appendix Supporting Information. 3 Acquiring Peel to Deliver Aeris’ Growth Strategy 5 314 122 75 511 Tritton Mallee Bull Wirlong Total Combined 5 Strategic Acquisition to Transform Tritton Enlarges Tritton’s Cobar region resource base to over 500kt contained copper(2) Measured & Indicated Resources (Contained Cu kt) Inferred Resources (Contained Cu kt) Grade (Cu %) +63% Total Contained Copper 1.7% 1.9% 1.8% 1.7% +85% Indicated Contained Copper 1. This vision is an aspirational statement (and not a production target). Refer to the Forward Looking Statements section of the Disclaimer. 2. Pro-forma combined Mineral Resources and Ore Reserves for Tritton and South Cobar Copper Project, refer to the Appendix for a breakdown of the underlying Mineral Resource and Ore Reserve Statements. Mineral Resources are inclusive of Ore Reserve. Positions Aeris’ flagship Tritton Operations for a +10 year mine life(1) Significant growth upside for Aeris and Peel shareholders, with both projects open at depth Peel assets to benefit from Aeris’ operational skills and existing Tritton mill and infrastructure Mallee Bull to be prioritised as a near term, high-grade base load ore source Aeris to acquire Peel’s South Cobar Copper Project (Mallee Bull + Wirlong) via Scheme of Arrangement 6 Two large, high-grade copper deposits within trucking distance from Tritton, creating a combined 3,822km2 tenement package Mallee Bull resource with c. 88% Indicated status(1) and preliminary mine design – will facilitate release of Ore Reserve within 6 months of completion Metallurgical test work confirms suitability for processing at Tritton Aeris team has reviewed Mallee Bull development plans with a study on an integrated Tritton operation to be completed within the next 6 months Wirlong is a highly prospective exploration project with future development potential Exploration declines approved at both projects, de-risks and accelerates development potential 6 1. Refer to the Appendix for a breakdown of the underlying Mineral Resource. Acquisition of advanced Mallee Bull and Wirlong resources Logical Consolidation Within the Cobar Region Tritton tenements: 2,343km2 Tenements acquired: 1,479km2 100km 100km Wirlong Project Mallee Bull Project Tritton Operations Tritton mine life to be underpinned by base load feed from Constellation and Mallee Bull Mallee Bull expected to be fully permitted for stoping and ore transport in H2 FY29(2) Aeris to release integrated life of mine plan aiming for a +10 year mine life within the next 6 months(1) Potential cost benefits from increased throughput and maximising mill capacity Wirlong has potential to become another future ore source – following further resource definition drilling and studies Positioning Tritton for a +10 Year Mine Life(1) 7 Increasing mine life by combining Tritton’s processing capacity with Mallee Bull high-grade ore 1. This vision is an aspirational statement (and not a production target). Refer to the Forward Looking Statements section of the Disclaimer. 2. Subject to feasibility study, NSW Government Mining Activity Approval and FID. Tritton Copper Production (kt) 24 17 20 19 29 FY23 FY24 FY25 FY26 Guidance Constellation Other Tritton Mallee Bull Wirlong Current Producing Deposits M+I: 65kt Inferred: 26kt Contained Copper Resources(3) M+I: 94kt Inferred: 60kt M+I: 108kt Inferred: 14kt M+I: 21kt Inferred: 44kt M+I: 44kt Inferred: 31kt Guidance Range 3. Refer to the Appendix for a breakdown of the underlying Mineral Resource and Ore Reserve Statements. Mineral Resources are inclusive of Ore Reserve. Current Producing Deposits include Tritton, Avoca Tank, Murrawombie and Budgerygar. Other Tritton includes South Wing, Tritton Remnants, Budgery, Kurrajong and ROM Stockpiles. 8 1,812 851 760 533 475 138 Capstone Sandfire Develop Aeris PF 29Metals Aurelia AIC Peel 2,166 981 563 435 373 235 Capstone Sandfire 29Metals Aeris PF AIC Aurelia Develop Peel 8 Enhanced Market Position Market Capitalisation (A$M) Mineral Resources (kt Cu) Copper Production (FY26 guidance)(4) 1. Calculated based on Aeris closing share price at 0.565 multiplied by the expected 1,505,674,571 Aeris shares on issue following implementation of the Scheme (assuming a 0.3363 exchange ratio). 2. Pro-forma combined Mineral Resources and Ore Reserves for Aeris and the South Cobar Copper Project, refer to the Appendix for a breakdown of the underlying Mineral Resource and Ore Reserve Statements. Mineral Resources are inclusive of Ore Reserve. 3. Total Global contained copper Mineral resources for Peel. 4. Taken as midpoint of FY26 guidance. 5. 29Metals guidance for CY26 6. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t). Assumed average commodity prices FY26: US$9,429/t Cu, US$3,241/oz Au, US$35/oz Ag, US$2,827/t Zn, US$2,029/t Pb. Aeris confirms that it is the Company’s opinion that all the elements included in its metal equivalents calculation have a reasonable potential to be recovered and sold. All other metrics obtained from publicly accessible data as at 11-Feb-26. Pro-forma 12,738 9,023 Pro-forma 14,251 159 45 44 30 15 Sandfire Aeris 29Metals Aurelia AIC (5) (1) (2) 3,499 Copper Production (Cu kt) Copper Equivalent(6) (Cu Eq kt) (3) 9 Continuing to Deliver on Aeris’ FY26 Strategy 9 Realise value for shareholders 01 Sell non-core assets 02  Divesting North Queensland exploration assets for total consideration up to $15.5M(1) • Completion Q3 FY26 Operational Delivery Tritton • Murrawombie Pit • Constellation on time • Resource extension • LOM Cracow • Golden Plateau • Resource extension • LOM 05 Growth • Focus on life extensions through greenfield exploration • Consider external opportunities Balance Sheet 06  Repay debt  Assets sales  Consider hedging strategy Unlock Stockman 04  Finalise Albion test work • Update feasibility study  Concept study on acid production 03 Jaguar strategy  Focus on +10 year life • Reduce care and maintenance • Test base metals targets 1. Refer to ASX release “Agreement to Divest North Queensland Copper Assets”, 27 October 2025.   Peel’s South Cobar Copper Project (Mallee Bull and Wirlong) 11 11 Note: The conceptual Exploration Decline has been designed for the purposes of a Review of Environmental Factors (REF) submission to the NSW Resources Regulator. No economic studies have been completed as part of its design. 1. Refer to Appendix for Mallee Bull Mineral Resource. Advanced copper project expected to become a near term, high-grade ore source for Tritton Mallee Bull Pre-Development Milestones & Next Steps  Preliminary mine design / scheduling completed  Metallurgical testwork, geotechnical engineering, project design  Construction of exploration decline and surface infrastructure approved by NSW Resources Regulator  Extensive flora, fauna and heritage studies  Ownership of land over the project site  Preliminary feasibility study well progressed  Integration study with Tritton commenced, expected to be completed within 6 months  Development of exploration decline and resource definition drilling Location Stage Resource(1) Approvals Status South of Cobar New South Wales c. 130km from Tritton Development ready 6.3Mt @ 1.92% Cu, 0.35g/t Au for 122kt Cu, 71koz Au Exploration Decline Approved Mallee Bull Summary Deposit open at depth 12 12 1. Refer to Appendix for Wirlong Mineral Resource. 2. Refer to Peel ASX announcement released on 9 January 2023. Highly prospective exploration project Wirlong Location Stage Resource(1) Approvals Status South of Cobar New South Wales c. 100km from Tritton Resource Definition 4.3Mt @ 1.75% Cu for 75kt Cu Exploration Decline Approved Wirlong Summary Exploration Milestones & Next Steps  Proven high-grade copper resource commencing at ~200m depth, remains open along strike  Previous drill program completed – totalling 66,092m of RC and diamond drilling(2)  Extensive flora, fauna and heritage surveys completed, REF permit for exploration decline has been approved  Ownership of land over the project site  Preliminary mine design and scheduling previously completed by Peel, Aeris to review  Aeris planning additional drilling to further build the geological model  Mining studies to be undertaken following update of model Deposit open at depth Transaction Overview 14 14 1. See the ASX announcement of today’s date for further information on the Scheme and the Scheme Implementation Deed. 2. Subject to no superior proposal emerging and an Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of Peel shareholders. 3. As at the date of this announcement, Peel Directors have a Relevant Interest in certain Peel shares, options and performance rights which will be affected by the Scheme. See the ASX announcement of today’s date “Aeris Resource to Acquire Peel Mining” for further information on the interests of the Peel directors. 4. Based on the last closing price of Aeris of $0.565 at 11 February 2026. 5. Refer to Peel’s ASX announcement “Landmark Sale of South Cobar Copper Project to Aeris Resources and Creation of a New ASX-listed Precious and Base Metals Explorer” lodged on 12 February 2026. 6. Investors are cautioned that although the application for admission of NewCo to the official list of ASX is intended to occur after implementation of the Scheme, there can be no certainty as to the timing of when such application will be made or that any such application will be successful. Any application by NewCo to admission of the official list of ASX will be subject to satisfying the requirements of ASX. 7. Perth Capital Pty Ltd and its associates control 139,017,840 shares in Peel. Key Transaction Details Scheme Structure • Aeris has entered into a Scheme Implementation Deed for an all-scrip acquisition of Peel Mining Limited (Peel), by way of a Scheme of Arrangement (Scheme)(1) • The Scheme has been unanimously recommended by the Peel Board(2,3) • The Scheme is subject to certain customary conditions, including, among other things, the entry into a demerger implementation deed and approval by Peel shareholders and the Court(1) • The Scheme is subject to an Independent Expert concluding the Scheme is in the best interests of Peel shareholders Offer Consideration • In exchange for their shares, Peel shareholders will receive: • 0.3363 Aeris shares for every one (1) Peel share held, valuing the South Cobar Copper Project and associated tenements at $0.19 per share(4); and • Indicatively one (1) NewCo share for every 4.6 Peel shares held, valued at $0.044 per share(5) • The Transaction values Peel at A$0.234 per share (based on the closing price of Aeris on 11 February 2026), and A$214 million on a diluted equity value basis (including the indicative additional A$0.044 of value received by Peel shareholders from their shareholding in NewCo), representing: • 46.0% premium to Peel’s closing share price; and • 49.1% premium to Peel’s one-month VWAP Pro-Forma Ownership • Aeris shareholders to hold 79.5% of the combined entity, while Peel shareholders to hold 20.5% NewCo In-Specie Distribution • Peel to undertake an inter-conditional demerger of Peel’s remaining precious and base metals tenements in the Cobar Basin, plus remaining cash on completion (net of transaction costs and completion adjustments) into a NewCo, which intends to apply to list on the ASX (Demerger)(6) • Peel and NewCo are proposing to enter into a Demerger Implementation Deed, under which Peel will demerge NewCo via a capital reduction • Demerger will require Peel shareholder approval, and certain other items necessary to prepare NewCo for its eventual listing Peel Board Support • Peel directors have confirmed that they each intend to vote any Peel shares in which they have a relevant interest in favour of the Scheme and Demerger(2). At the time of announcement, Peel directors hold approximately 4.9% of Peel ordinary shares(2,3) Peel Major Shareholder Support • Perth Capital Pty Ltd and its associates, that currently control a 16.1% interest in Peel(7), have provided a Voting Intention Statement, confirming that they intend to vote, or cause to be voted, those shares in favour of the Scheme and Demerger(2) Advisors • Aeris Resources has appointed Jefferies Australia as financial advisor and HopgoodGanim Lawyers as legal advisor • Peel has appointed Euroz Hartleys and Sternship Advisers as financial advisors and Hamilton Locke as legal advisor 15 15 1. This vision is an aspirational statement (and not a production target). Refer to the Forward Looking Statements section of the Disclaimer. 2. Based on Aeris’ close price of $0.565 per share on 11 February 2026, the Consideration (including additional NewCo value) implies a value of $0.234 per Peel share, which represents a 46% premium to Peel’s closing share price. Pro-forma ownership assumes full vesting and exercise of Peel’s performance rights and options. Refer to Peel’s ASX announcement “Landmark Sale of South Cobar Copper Project to Aeris Resources and Creation of a New ASX-listed Precious and Base Metals Explorer” lodged on 12 February 2026. Compelling Transaction Rationale Value to Aeris Shareholders  Enhances the quality, scale and grade of the existing Tritton Operations  Stable, long-life operation with increased operational flexibility  Positions Tritton for a +10 year mine life(1)  Platform to consider further consolidation in the Cobar Region  Larger, more liquid and investable copper and gold producer Value to Peel Shareholders  46% premium to Peel’s closing share price (including the indicative additional value of $0.044 per share received from NewCo shareholding)(2) and 20% ownership(2) in the combined group  Logical consolidation to utilise Aeris’ established mining and processing infrastructure, reducing unit costs and eliminating significant capital  Ownership of a larger, more liquid ASX-listed copper and gold producer  Strong NewCo foundation asset portfolio, comprising high-grade Southern Nights Complex and Cobar Basin exploration portfolio  Renewed growth strategy at NewCo, led by members of Peel’s existing management team and Board Highly synergistic acquisition to secure long term, high-grade base load mill feed for Tritton 16 16 Pro-forma Snapshot Aeris Peel(5) Pro-forma Share price / offer price(1) A$/sh 0.565 0.190 0.565 Shares outstanding(2) M 1,197.2 917.4 1,505.7 Market capitalisation A$M 676.4 174.3 850.7 Cash and concentrate receivables (31 Dec 2025)(3) A$M 106.4 Nil 106.4 Debt (31 Dec 2025) A$M - - - Enterprise value A$M 570.0 174.3 744.3 Pro-forma Group – Copper Mineral Resources(4) Cu (kt) 784 197 981 Pro-forma Group – Gold Mineral Resources(4) Au (koz) 1,362 74 1,436 Pro-forma Group – Silver Mineral Resources(4) Ag (Moz) 37 6 43 1. Aeris share price as at 11 February 2026. Offer consideration of $0.19/sh in Aeris shares based on Aeris’ closing share price at 11 February 2026. 2. Pro-forma ordinary shares on issue and market capitalisation based on Aeris’ share price as at 11 February 2026. 3. Pro-forma cash and receivables based on Aeris’ balance sheet as at 31 December 2025 excluding transaction costs. 4. Pro-forma combined Mineral Resources and Ore Reserves for Aeris and the South Cobar Copper Project, refer to the Appendix for a breakdown of the underlying Mineral Resource and Ore Reserve Statements. Mineral Resources are inclusive of Ore Reserve. 5. Represents Peel excluding assets to be demerged to NewCo. Pro forma based on Peel’s diluted shares and assumes full vesting and exercise of Peel’s performance rights and option. Remaining cash in Peel (net of transaction costs and completion adjustments) will be demerged to NewCo. All other metrics obtained from publicly accessible data as at 11 February 2026. Creating a ~A$850M copper and gold company 17 NewCo Highlights As part of the proposed transaction, Peel shareholders will retain full exposure to the precious and base metals exploration and development potential of NewCo  Peel to undertake a demerger of Peel’s remaining precious and base metals assets in the Cobar Basin, plus remaining cash on completion (net of transaction costs and completion adjustments) into NewCo, which intends to apply to list on the ASX(1)  Peel shareholders are indicatively anticipated to receive one (1) share in NewCo for every 4.6 Peel shares they hold, valued at $0.044 per Peel share(2)  NewCo asset base underpinned by the high-grade Southern Nights Complex (Wagga Tank and Southern Nights Projects), hosting 10Mt polymetallic resource base(3) with significant exploration upside  ~1,375km2 of 100% owned highly prospective exploration tenure in the Cobar Basin  NewCo will assess further M&A growth opportunities in the base and precious metals space 1. Investors are cautioned that although the application for admission of NewCo to the official list of ASX is intended to occur after implementation of the Scheme, there can be no certainty as to the timing of when such application will be made or that any such application will be successful. Any application by NewCo to admission of the official list of ASX will be subject to satisfying the requirements of ASX. 2. Refer to Peel’s ASX announcement “Landmark Sale of South Cobar Copper Project to Aeris Resources and Creation of a New ASX-listed Precious and Base Metals Explorer” lodged on 12 February 2026. 3. Refer to Appendix for Southern Nights Mineral Resource. 18 18 Indicative Transaction Timeline Timeline Indicative Date Scheme and Demerger Timeline First Court Date for Scheme Early May 2026 Scheme Booklet sent to Peel shareholders Early May 2026 Scheme Meeting of Peel Shareholders to approve Scheme and Demerger Mid June 2026 If the Scheme and Demerger are approved by Peel shareholders Second Court Date Mid to late June 2026 Effective Date Mid to late June 2026 Scheme and Demerger Record Date Late June 2026 Demerger implementation (transfer of NewCo shares) Late June 2026 Implementation Date for Scheme Early July 2026 Proposed NewCo ASX listing (subject to ASX and other required approvals) Q3 CY26 Scheme Booklet expected to be dispatched to Peel shareholders in early May 2026, ahead of a Scheme Meeting in mid June 2026 and transaction completion by early July 2026 Note: The dates referred to above are indicative and may change. Aeris Overview Australian mid-tier, base and precious metals producer Aeris Resources 2 producing operations (FY26: 40-49kt copper Eq)1 Multiple development projects Investing in exploration Substantial copper production and metal inventory Excellent platform for growth 20 1. Cu Eq t = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t) Assumed average commodity prices FY26: US$9,429/t Cu, US$3,241/oz Au, US$35/oz Ag. Aeris confirms that it is the Company’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. 1. As at 11 Feb 2026 2. As at 31 Dec 2025 3. As at 30 June 2025 Corporate overview 21 CAPITALISATION Market capitalisation1 $676 million Cash2 $86 million Debt - Tax Losses3 $434 million Michele Muscillo Non-Executive Director Colin Moorhead Non-Executive Director Senior Executives Board of Directors Andre Labuschagne Executive Chairman MAJOR SHAREHOLDERS Washington H. Soul Pattinson 19.5% Tudor Court 7.1% AIS SHARE PRICE BROKER COVERAGE Paul Harris COO Cameron Schubert CTO Larnie Roberts CPO Dane v