Taca Taca DEVELOPMENT Salta, Argentina OPERATOR First Quantum Minerals ("First Quantum") COMMODITY TYPE TERMS LAND AREA Copper, Gold, Royalty 0.42% NSR 6.375 ha Molybdenum Royalty Summary Reserves Taca Taca, located in Salta, Argentina, is one of the largest copper Reserves & Resources - Cu projects in the Americas, wholly-owned by First Quantum. First Quan- P&P Reserves (mlbs Cu) 17,058 tum outlined that Taca Taca will consist of an open pit mine with a M&I Resources (mlbs Cu) 20,895 large 60 million tonnes per annum processing plant expected to pro- Inferred Resources (mlbs Cu) 4,899 duce more than 275,000 tonnes of copper per year at its peak along Reserves & Resources - Au with 106,000 ounces of gold and 2,205 tonnes of molybdenum. P&P Reserves (koz Au) 5,087 M&I Resources (koz Au) 6,051 Taca Taca is expected to be a long-life asset with an initial 32-year Inferred Resources (koz Au) 1,154 mine life and a large resource base providing a pre-tax net present Reserves & Resources - Mo value at an 8% discount rate of $3.4 billion and a 17.4% internal rate P&P Reserves (mlbs Mo) 465 of return. M&I Resources (mlbs Mo) 581 Inferred Resources (mlbs Mo) 142 Pre-development activities are ongoing by First Quantum including Metalla Royalty Ounces - GEOs positive progress on water sourcing and power line development. An P&P Reserves (koz) 149.0 initial Environmental and Social Impact Assessment for the project M&I Resources (koz) 182.0 was submitted in 2019 with approval expected in 2024. First Quan- Inferred Resources (koz) 41.7 tum expects to make a development decision on Taca Taca not be- * Mineral Resources are reported inclusive of Mineral Reserves * For Royalty GEOs calculation, Metalla estimates 100% of Taca Taca’s Mineral Resources and fore 2024. Mineral Reserves are subject to our royalty interest and a rate of 0.357% is applicable for the copper and molybdenum Royalty GEOs (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound. Molybdenum has been con verted to Royalty GEOs assuming $10.00 per pound. Royalty & Mineralization Map * For sources, please refer to note 29 on the Notes & Sources page. Mineralization Property Boundary Pit Boundary 44 Metalla Royalty & Streaming Ltd.