Mr. John MacKenzie reports

CAPSTONE COPPER PUBLISHES 2022 SUSTAINABILITY REPORT

Capstone Copper Corp. has published its 2022 sustainability report, "Growing Responsibly." Growing Responsibly is Capstone's inaugural sustainability report as a combined company, continuing a practice established by its predecessor companies. The report has been prepared in accordance with the Global Reporting Initiative (GRI) standards and the Sustainability Accounting Standards Board metals and mining sustainability accounting standard. The report details the company's management approach and performance on material sustainability topics across its operations for the period from Jan. 1 to Dec. 31, 2022.

John MacKenzie, Capstone's chief executive officer, commented: "I am pleased to share our first sustainability report for the combined Capstone Copper. Integral to our values, we are committed in our drive to direct our resources and the skills of our people to address some of the world's biggest sustainability challenges. Our growth is deliberate and responsible. Copper is an essential metal that facilitates decarbonization and electrification; it plays a critical role in addressing the climate crisis, and we recognize our role as a responsible producer."

2022 sustainability report highlights:

• Capstone underwent a steady and deliberate embedding of responsible practices in all areas. Some of its highlights from 2022 include the company adopted a sustainable development strategy, which will guide its future growth. The strategy serves as a blueprint to ensure alignment with Capstone's vision and values. It is supported by five strategic priorities (climate, water, tailings, biodiversity and communities), each of which has meaningful targets.
• Capstone continued to invest in significant development projects to extend the life of its mines and to make its operations more efficient and competitive. The expansion of the Mantos Blancos sulphide processing plant was completed in April, 2022, and construction continued at the Mantoverde development project.
• In Capstone's first year of reporting as a combined company, it not only integrated its sustainability data streams but enhanced its disclosure as well. The company has included more in-depth commentary on processes for community engagement and biodiversity management. It reports sustainability metrics for all sites with three years of data.

Some 2021 to 2022 data trends include:

• Total water consumption remained steady at 18.3 million cubic metres while total freshwater use decreased by 14 per cent (from 21 per cent to 18 per cent) primarily due to increased pit dewatering at Pinto Valley.
• Total energy use rose by 12 per cent due to increases in both fuel (13 per cent) and electricity (11 per cent) use, mainly driven by fuel for capital projects and electricity for new facilities. However, overall greenhouse gas emissions decreased by 1 per cent due to significant reductions in emissions from both the Chile and Arizona grids.
• Per 200,000 hours in 2022, Capstone's lost time injury frequency rate (LTIFR) was 0.15 and its total reportable injury frequency rate (TRIFR) was 0.21. These metrics improved across most sites, falling 35 per cent and 33 per cent, respectively, attributable to the emphasis on pro-active safety management practices.
• Capstone's combined work force grew by 36 per cent to 8,425 over 2021, driven by the temporary work force needs of key development and construction projects. Capstone's employee demographics remained relatively constant, with 8 per cent women. Global new hire rate (22 per cent) and turnover rate (14 per cent) both decreased in 2022 by 28 per cent and 7 per cent, respectively, which is an indication of a relatively stable employee work force.

The 2022 sustainability report is available on Capstone's website.

About Capstone Copper Corp.

Capstone Copper is an Americas-focused copper mining company headquartered in Vancouver, Canada. It owns and operates the Pinto Valley copper mine located in Arizona, United States, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and 70 per cent of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, it owns the fully permitted Santo Domingo copper-iron-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas.

Capstone Copper's strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization, and safe and responsible production throughout its portfolio of assets. The company focuses on profitability and disciplined capital allocation to surface stakeholder value. It is committed to creating a positive impact in the lives of its people and local communities, while delivering compelling returns to investors by sustainably producing copper to meet the world's growing needs.

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