Unico Silver (USL) investor relations material

Executive summary

• Quarter focused on de-risking the Joaquin development: initial La Mata estancia consideration secured surface rights for the resource areas and preferred infrastructure footprint.

• The integrated Joaquin–Cerro Leon maiden PFS was rescheduled from September 2026 to January 2027 to incorporate an updated resource and further metallurgical and process testwork.

• An institutional placement of ~A$60m was completed, supporting 20,000m of planned resource-growth drilling and funding the PFS and DFS work through end-2027.

Financial highlights

• Quarter-end cash and cash equivalents were A$100.265m, compared with A$55.068m at the prior quarter end.

• Cash flows included A$60.0m from equity issues, A$0.510m from option exercises, A$3.099m of equity-issue costs and A$0.649m net operating outflow.

• Exploration and evaluation payments were A$6.337m; property, plant and equipment payments were A$5.228m, including the US$3.5m initial La Mata cash payment and US$0.2m Cerro La Mata signing payment.

• Quarterly expenditure also included A$0.321m in staff costs and A$1.035m in administration and corporate costs.

Outlook and guidance

• Updated Joaquin Mineral Resource Estimate and maiden integrated Joaquin–Cerro Leon PFS targeted for January 2027; RIGI inclusion remains targeted for 2H 2027.

• Summer program plans 20,000m of resource-growth and extensional drilling across Joaquin and Cerro Leon; DFS targeted for end-2027.

• Planned PFS work includes metallurgical and heap-leach testing, geotechnical and water studies, and Phase 2 baseline environmental studies for mining approvals.