Andean Precious Metals (APM) Corporate presentation summary

Strategic transformation and growth

• Transitioned from a single-asset operator to a diversified precious metals producer with strong cash flow and disciplined growth strategy over the past decade.

• Acquired Golden Queen Mine in California in 2023, diversifying portfolio and strengthening cash flow.

• Graduated to the Toronto Stock Exchange in 2025, enhancing capital markets profile.

• Focused on operational excellence, cost control, and strategic M&A in the Americas.

• Clear path to long-term value creation with multiple near-term catalysts and growth opportunities.

Asset portfolio and operations

• Operates Golden Queen (California, open-pit heap-leach gold mine) and San Bartolome (Bolivia, silver oxide processing facility).

• Golden Queen projected 2026 production: 45–54k oz Au Eq; AISC: $1,850–$2,150/oz.

• San Bartolome projected 2026 production: 4.4–4.9Moz Ag Eq; CGOM: $20–$35/oz.

• Golden Queen mine life extension and operational optimization underway, including expanded drilling and leach pad capacity.

• San Bartolome leverages a diversified ore supply model, with ~87% third-party ore in 2025.

Financial performance and outlook

• 2026 production guidance: 100k–114k gold equivalent ounces across both assets.

• Strong margins with cash cost at Golden Queen of $1,500–$1,800/oz and AISC of $1,850–$2,150/oz.

• Sustaining capital program of $17M–$24M and growth capital of $21M–$30M for 2026.

• $167M in cash and cash equivalents as of December 31, 2025, supporting organic growth and acquisitions.

• Free cash flow of $35M in 2025, with enhanced liquidity and a clean balance sheet.