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hot 호혼 chili limited Quarterly Report Period Ending March 31st 2021 Highlights 361 High Grade Copper - Gold Core Continues to Expand at Cortadera • • Fully funded 40,000m drill programme commenced at the Cortadera copper - gold discovery in Chile , with three rigs in operation Significant new drill results have confirmed continuity and extensions to the high grade core of the Cuerpo 3 main porphyry , with the seventh world - class drill result returned from Cortadera Results of fourteen drill holes for approximately 6,700m of drilling are pending On track to deliver a significant upgrade to Cortadera's 451 Mt maiden resource later this year 4km Long Copper Porphyry Footprint Secured Next to Cortadera - Santiago Z • • A new landholding named Santiago Z has been consolidated , 5km south of Cortadera Santiago Z boasts a large historical soil molybdenum anomaly , double the size of Cortadera Exploration efforts have identified and confirmed Santiago Z as a large - scale copper porphyry footprint , which has never been drill tested • Further exploration work programmes are planned ahead of first pass drill testing later in 2021 Cortadera Acquisition Nears Completion • US $ 10 million payment satisfied to acquire Cortadera from private Chilean mining group SCM Carola , bringing total payments to US $ 17 million since February 2019 VAT Refund Approval from Chilean Tax Authority and Strong Cash Position • VAT refund funds set to boost Hot Chili's cash position by up to A $ 4 million • Current cash position of A $ 9.5 million Hot Chili Limited ACN 130 955 725 First Floor , 768 Canning Highway , Applecross , Western Australia 6153 ☑ PO Box 1725 , Applecross , Western Australia 6953 ASX : HCH P : +61 8 9315 9009 F : +61 8 9315 5004 www.hotchili.net.au Contact Mr Christian Easterday Managing Director E : admin@hotchili.net.au 1