Austral Gold (AGD) investor relations material

Executive summary

• Quarterly production increased 3% quarter-on-quarter to 7,335 gold equivalent ounces (GEO), with Casposo contributing 61% (4,456 GEO).

• Sales revenue rose 43% sequentially to US$34.1 million, driven by higher realized gold and silver prices.

• Cash and cash equivalents ended at US$24.3 million, with a net cash position of US$0.6 million after financial debt.

• Completed a brokered private placement raising gross proceeds of A$8.5 million (US$5.9 million).

Financial highlights

• Operating cash flow after working capital was US$10.4 million, up US$0.4 million from Q4 2025 and US$10.6 million from Q1 2025.

• Net cash from investing activities was US$1.3 million, mainly from the sale of Unico Silver shares.

• Net cash from financing activities totaled US$2.1 million, primarily from the private placement.

• Financial debt decreased by US$2.9 million to US$23.7 million, with net current assets improving by US$20.7 million to US$14.3 million.

Outlook and guidance

• Guanaco 2026 production guidance remains at 16,000–20,000 GEOs, but output is expected at the lower end due to Q1 underperformance.

• Casposo 2026 production guidance is 11,000–13,000 GEOs, with full-year output dependent on the start of the toll agreement.

• Revised cost guidance: Guanaco C1 US$2,400–2,700/oz, AISC US$2,600–2,900/oz; Casposo C1 US$2,200–2,400/oz, AISC US$2,400–2,600/oz.

• Updated Mineral Resource and Reserve estimates for Guanaco expected in Q2 2026.