Andean Silver (ASL) Investor presentation summary

Project overview and resource base

• Advancing the restart of the Cerro Bayo silver-gold project in Chile, with a total mineral resource of 136Moz AgEq (20Mt @ 211g/t AgEq), including 55Moz pure silver and 1Moz pure gold contained metal.

• Indicated resource increased by 230% to 60Moz AgEq as of June 2026.

• The project is fully permitted, infrastructure-ready, and has a strong social license with 23 environmental approvals and a history of local employment.

• Infrastructure includes a 500ktpa mill, 2mtpa crusher, 14MW power station, assay lab, workshops, offices, and a permitted tailings storage facility.

• Historic production reached up to 3.7Moz silver per year, with consistent output and substantial gold credits.

Equity raising and financials

• Launching a single tranche, non-underwritten institutional placement to raise A$40 million at A$2.45 per share, a 13.7% discount to last close.

• Pro-forma market capitalization of A$561M and pro-forma cash of ~A$83M post-raise.

• No debt, with 54.5% institutional ownership and coverage from major research firms.

• Funds will accelerate restart activities, resource upgrades, and greenfield exploration.

• Timetable includes trading halt on 31 August 2026, placement announcement on 2 September, settlement on 8 September, and allotment on 9 September 2026.

Exploration and growth strategy

• Aggressive drilling program with six rigs upgrading resources and testing new targets.

• Greenfield permitting underway for >200 drill pads in the Juanita to Droughtmaster corridor, with drilling to commence in 2H CY27.

• District-scale exploration upside with over 15km of vein strike, much of it untouched for 20 years.

• High-grade discoveries at Trinidad (2.4m @ 15,558g/t AgEq) and Delia SE (3.1m @ 3,356g/t AgEq) near the mill.

• Scoping study underway, with feasibility study and maiden ore reserve targeted by end CY27.