Ann: Cyprium Metals Secures A$21million of Funding, page-4

The current SOFR is about 5%, so that is an effective coupon rate of 11.5%p.a. at the current SOFR.

Plus these secured bonds are issued at a discount. The first tranche ($7.5m) @5% discount, which means the effective yield is actually a bit over 12.1%. The second tranche (if drawn) is at a 10% discount, making the effective yield 12.8%.

The bonds mature 31 Dec 24.

The warrants are described as 2 years, 1 for 5.5 warrants. So I assume that means warrents for up to 41.25M shares (if converted) for tranche one and the same again for tranche two. Strike price is either 20% premium to next capital raise (if before end of calendar year) otherwise set at 8.88c share.

Please correct any of the above if needed.

"It is anticipated that this facility will be rolled into a larger, longer term development financing facility inthe near term (likely within 12 months), pending the finalisation of the Nifty life of mine study on theintegrated copper oxide Heap Leach SX-EW starter operation and the larger scale sulphide open pit (referto CYM ASX announcement dated 23 May 2023 “Cyprium Metals Corporate Update). These studies arecurrently underway and anticipated to be completed by Q1 2024."