Earnings release
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 1 June 2025 Quarterly Report Unico Silver (USL or the Company) presents its quarterly report for the three months ended 30 June 2025. This quarter was defined by continued drilling success across both the Joaquin (63 holes for 9,009m) and Cerro Leon (65 holes for 9,143m) projects in Santa Cruz, Argentina, with new discoveries, extensions to high-grade zones, and strong progress toward the Company’s PLUS 150 and BEYOND 300 resource growth and development strategy. PLUS 150 Strategy – Immediate plan to transition from explorer to developer focusing on high-value silver ounces • Strategy targets 150 Moz AgEq in free-milling, pit constrained silver equivalent resources at Joaquin and Cerro Leon. Significant progress toward upgrading Foreign Estimate at Joaquin and expanding oxide domains at both Joaquin and Cerro Leon. JOAQUIN • Step out drilling defines wide zones o f oxide silver gold mineralisation at two prospect , La Negra SE and La Morocha SE, with mineralisation remaining open at depth and to the south. JDD017-25 90m at 144gpt AgEq (1.3gpt Au, 40gpt Ag) from 10m, including 4m at 718gpt AgEq (8.7gpt Au, 20gpt Ag) from 23m, and 6m at 559gpt AgEq (6.5gpt Au, 35gpt Ag) from 38m JDD028-25 69m at 163gpt AgEq (0.9gpt Au, 94gpt Ag) from 124m, including 8.5m at 656gpt AgEq (3.9gpt Au, 342gpt Ag) from 163.5m • Infill drilling at La Negra confirms historical mineralisation and highlight s previously under -modelled high- grade zones. (JRC024-25) 4m at 507gpt AgEq (0.1gpt Au, 499gpt Ag) from 56m 53m at 161gpt AgEq (0.3gpt Ag, 135gpt Ag) from 76m, including 7m at 472gpt AgEq (0.16gpt Au, 460gpt Ag) from 82m (JDD003-25) 15m at 222gpt AgEq (0.1gpt Au, 213gpt Ag) from 31m, and 13m at 243gpt AgEq (0gpt Au, 243gpt Ag) from 51m (JDD005-25) 28m at 522gpt AgEq (0.2gpt Au, 507gpt Ag) from 33m, including 7m at 1474gpt AgEq (0.3gpt Au, 1452gpt Ag) from 39.7m For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 2 • New Brunilda Discovery 1.5km east of La Negra on a separate parallel structure (JRC011-25: 23m at 88gpt AgEq from 4m, including 8m at 134gpt AgEq). • Assay results pending for 27 holes for 3,932m. CERRO LEON • Significant PLUS150 oxide intercepts reported during the quarter, including the highest silver drill intercepts to date at the project: Marta Norte (PR008-25) 36m at 474gpt AgEq (0.4gpt Ag, 436gpt Ag) from 1m, inc. 13m at 1096gpt AgEq (0.8gpt Au, 1024gpt Ag) from 16m Karina (PR015-25) 39m at 255gpt AgEq (0.55gpt Au, 208gpt Ag) from 16m, inc. 7m at 1011gpt AgEq (0.93gpt Au, 903gpt Ag) from 38m BEYOND 300 Strategy – Medium-term focus to unlock value through growth in sulphide resource, enhancing project scale and longevity • Medium term aspiration to increase mineral resource to 300Moz AgEq, underpinned by new discoveries at the Cerro Leon project: o Karina (P049-25): 13m at 772gpt AgEq from 42m, including 1.7m at 4,625gpt AgEq. o Savary (P030-25): 30m at 293gpt AgEq from 92.6m o Kasia, (P054-25): 39m at 150gpt AgEq from 60.6m o MS Link (P005-25): 72.4m at 83gpt AgEq from 46.6m o Ivonne (P062-25): 15.1m at 175gpt AgEq from 149.5m Resource Definition Accelerating • Significant progress toward upgrading Foreign Estimate at Joaquin and expanding oxide and sulphide domains at Cerro Leon. JORC Mineral Resource Estimates on track for release September 2025. Corporate • Peter Canterbury, former CFO of De Grey Mining, has been appointed to the Board as an Independent Non - Executive Director. Mr Canterbury played a key leadership role in advancing the world -class Hemi gold discovery (Western Australia) from initial discovery through to Feasibility Study culminating in the $6 billion acquisition of De Grey by Northern Star in May 2025. • The Company held a cash balance of $12.5 million as at 30 June 2025. A significant reduction in cash outflows is expected in the September quarter, with drilling and field activities temporarily paused to prioritise delivery of a revised Mineral Resource Estimate (MRE) in September 2025. For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 3 Managing Director Todd Williams commented: “The June quarter marked a major step forward in Unico’s transition from explorer to developer. With nearly 20,000 metres drilled across Cerro Leon and Joaquin, we delivered two new discoveries, strong infill results, and multiple zones of oxide and sulphide mineralisation across both projects. The La Morocha SE and La Negra SE step -outs confirm kilometre -scale systems with open extensions and outstanding grades, directly supporting our PLUS 150 strategy – with multiple standout drill holes. Meanwhile, sulphide hits at MS Link, Savary and Karina strengthen our confidence in the BEYOND 300 growth target. As we head into Q3, our resource work is already well advanced — but the pace of discovery shows upside for a further MRE early 2026 – which speaks to the geological potential of the portfolio. . Finally, we are pleased to welcome Peter Canterbury to the Board. His experience guiding De Grey Mining through resource growth, feasibility and its $6 billion acquisition brings tremendous insight as Unico embarks on a similar trajectory.” Building a World-Class Silver Portfolio in Santa Cruz Unico Silver holds a significant portfolio of exploration properties in Santa Cruz province, Argentina, a region well- known for its multi-million-ounce gold and silver epithermal vein deposits (Figure 1). The Cerro Leon Project is in the central Deseado Massif geological province, approximately 45 kilometers northwest of AngloGold Ashanti's Cerro Vanguardia mine. In August 2024, the Company announced the acquisition of the Joaquin and Cerro Puntudo properties (collectively the Joaquin Project) from Pan American Silver Corp (PAAS), further expanding its presence in the region ( see ASX Announcement, 20 August 2024 ). The transaction was finalised on 11 October 2024 (see ASX Announcement, 11 October 2024). Strategic Consolidation The Joaquin acquisition is part of Unico Silver’s broader consolidation strategy, which has secured 100% ownership of five projects previously held by major miners (PAAS and Yamana) and three junior companies. This positions the Company with a consolidated , camp -scale portfolio in Santa Cruz, offering significant future development potential (Figure 2). Resource Highlights • Cerro Leon: hosts a JORC -compliant Mineral Resource Estimate (MRE) of 91Moz AgEq for 16.5Mt at 172gpt AgEq (Table 1). • Joaquin: hosts a Foreign Estimate of 73Moz AgEq for 16.7Mt at 136gpt AgEq (Table 2), with historical production of 4.3Moz Ag by PAAS from 2019–2022 (Table 3). For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 4 Figure 1. Santa Cruz portfolio Figure 2. Joaquin and Cerro Leon projects For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 5 Cautionary Statement The Foreign Estimate of mineralisation included in this announcement is not compliant with the Australasian Code for Reportin g Exploration Results, Mineral Resources and Ore Reserves (2012 JORC Code) and is a “Foreign Estimate”. An independent resource consulting group NCL Ingenieria y Construccion Ltda. was commissioned by Coeur D’Alene Mines Corporation to prepare an independent Technical Report on the Joaquin Project suitable for reporting purp ose under the standards of NI 43-101. A Competent Person (under ASX Listing Rules) has not yet done sufficient work to classify the Foreign Estimate as Mineral Resou rces or Ore Reserves in accordance with the 2012 JORC Code. It is uncertain that following evaluation and/or further exploration work that the foreign estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code 2012. Table 1: Cerro Leon Project - Mineral Resource Estimate Category Tonnes AgEq (gpt) AgEq (Moz) Ag (gpt) Au (gpt) Pb (%) Zn (%) Ag (Moz) Au (Koz) Pb (Mlb) Zn (Mlb) Indicated 6.82 172 37.8 86 0.49 0.28 0.93 18.8 107 41.9 140 Inferred 9.65 172 53.5 71 0.77 0.77 0.77 22.1 237 53.7 163 Total 16.47 172 91.3 77 0.65 0.57 0.84 40.9 344 95.6 304 The preceding statements of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. The information in this announcement that relates to the current Mineral Resources for Cerro Leon has been extracted from the ASX release by Unico Silver entitled “Cerro Leon Resource Grows 84% to 92Moz” dated 18 May 2023, available at www.unicosilver.com.au and www.asx.com.au (“Unico Silver Announcement”).Unico Silver confirms that it is not aware of any new information or data that materially affects the information included in the Unico Silver Announcement in relation to estimates of Mineral Resources and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Unico Silver confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the announcement. Due to rounding to appropriate significant figures minor discrepancies may occur. Lead and Zinc credits are only considered for the Marta Centro prospect, all other prospects the Pb and Zn are attributed no economic value. Cerro Leon’s reported silver equivalent (AgEq) is consistent with previous reports and is based on the following assumptions: AgEq = Ag (g/t) + 79.18 x Au (g/t) + 25.56 x Pb (%) + 39.41 x Zn (%), where: silver price is $23.5/oz and recovery is 95%, gold price is $1964/oz and recovery is 90%, lead price is $0.95/lb and recovery is 87.6% and zinc price is $1.39/lb and recovery is 92.3%.In the Company’s opinion, the silver, gold, zinc, lead included in the metal equivalent calculations have a reasonable potential to be recovered and sold. Table 2: Joaquin Project – Historical Foreign Estimate as of February 2013 Resource Category Tonnes (Mt) Ag (gpt) Au (gpt) Ag (Moz) Au (Koz) AgEq (gpt) AgEq (Moz) M&I 15.7 128 0.12 65.2 61.1 138 70.1 Inferred 1 100 0.12 3.1 3.7 110 3.3 Total 16.7 126 0.12 68.3 64.2 136 73.4 The estimates of mineralisation in respect of the Joaquin Project included in this announcement are foreign estimates and are not reported in accordance with the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (2012 JORC Code) and is a “Foreign Estimate”. Unico Silver confirms that it is not aware of any new information or data that materially affects the information included in the Foreign Estimate and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Unico Silver confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the announcement. A Competent Person has not yet done sufficient work to classify the Foreign Estimate as Mineral Resources or Ore Reserves in accordance with the 2012 JORC Code. It is uncertain that following evaluation and/or further exploration work that the Foreign Estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code 2012. Joaquin’s reported silver equivalent (AgEq) is based on the following assumptions: AgEq = Ag (g/t) + 79.18 x Au (g/t) where: silver price is $23.5/oz and recovery is 95%, gold price is $1964/oz and recovery is 90%. In the Company’s opinion, the silver and gold included in the metal equivalent calculations have a reasonable potential to be recovered and sold. Table 3: Joaquin Project – Historical Production 2019 to 2022 Resource Category Tonnes (Mt) Ag (gpt) Au (gpt) Ag (Moz) Au (Koz) AgEq (gpt) AgEq (Moz) Depletion 0.33 410 0.14 4.3 1.5 421 4.5 Total 0.33 410 0.14 4.3 1.5 421 4.5 Historical production figures from Pan American Silver Corp. internal reconciliation reports For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 6 Drilling Continues at Cerro Leon Cerro Leon (Figure 3) comprises three separate projects that were consolidated through transactions with Austral Gold (ASX: AGD), Capella Metals and private Australian company RN Gold. The project is host to the second largest vein field in Santa Cruz (behind Cerro Vanguardia) with measured dimensions of 12 km by 9 km. Mineralised veins are up to 13m wide in outcrop and cover a combined strike of 115 km. Figure 3. Cerro Leon Project During the June quarter, the Company completed Phase 2 diamond (70 holes for 9,909 m) and Phase 3 RC and diamond drill programs (53 holes for 4,203m). Total drilling since work commenced in October 2024 now totals 183 holes for 20,456. Assay results reported for the quarter include 110 drill holes for 13, 346m. For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 7 Significant assay results reported during the June 2025 quarter are shown in Figure 4 and Table 4. Cerro Leon PLUS 150 Oxide Resource De-Risking • Phase 3 RC infill drilling targeted oxide mineralisation to convert Inferred resources to the higher confidence Indicated category: o Marta Norte (PR008-25): 36m at 474gpt AgEq from 1m, including 13m at 1,096gpt AgEq. o Karina (PR015-25): 39m at 255gpt AgEq from 16m, including 7m at 1,011gpt AgEq. Cerro Leon BEYOND 300 Sulphide Resource Expansion During the reporting period, the Company confirmed several important sulphide discoveries and has focused on converting historical prospects into a maiden MRE. Significant drill intercepts that fall outside the current MRE include: Karina Karina continues to return bonanza -grade silver intercepts with mineralisation defined over 900m strike and 125m down-dip. • (P042-25) 7.6m at 980gpt AgEq from 11.4m, inc. 1.1m at 5969gpt AgEq • (P046-25) 38.6m at 176gpt AgEq from 20.8m • (P049-25) 13m at 772gpt AgEq from 42m, inc. 1.7m at 4,625gpt AgEq • (PR004-25) 26m at 321gpt AgEq from 81m, inc. 3m at 2,002 gpt AgEq Savary New drilling on 150m -spaced sections, supported by historical 75m -spaced holes, has confirmed a 700m strike by 150m vertical zone of mineralisation. Hole P030-25 intersected a massive sulphide feeder structure with strong polymetallic grades. • (P030-25) 30m at 293gpt AgEq from 92.6m Kasia Kasia mineralisation spans 800m strike and 125m vertical, with significant silver-zinc-lead grades at the Savary–Kasia structural intersection • (P054-25) 39m at 150gpt AgEq from 60.6m Hole P054-25 lies directly beneath PR110-11, confirming vertical continuity over 50m. For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 8 Figure 4: Cerro Leon Projects – 3D oblique view of all prospects, 2023 Mineral Resource and 2024 -2025 drill holes. MS Link MS Link represents a new style of flat-lying stockwork-hosted mineralisation between the Marta Sur and Ivonne Sur vein corridors. Mineralisation begins from 25m depth and remains open laterally. • (P005-25) 72.4m at 83gpt AgEq from 46.6m • (P007-25) 74.2m at 69gpt AgEq from 56.5m • (P008-25) 25.1m at 125gpt AgEq from 47.1m • (P069-25) 28.6m at 133gpt AgEq from 41m This is in addition to significant historical drill results within the MS Link zone that reported: • (P200-08) 71.3m at 208gpt AgEq from 38.6m • (P379-11) 27.8m at 231gpt AgEq from 65.9m Defined over 350m and 200m, mineralisation occurs within a 100m vertical envelope (375mRL to 275mRL) and is open to the northwest and southeast. Ivonne Extension Deeper drilling under the Ivonne Mineral Resource (included in the May 2023) has defined a potential southeast plunging mineralised shoot, extending 400m strike and over 100m vertical beyond the current Mineral Resource boundary. Drill hole P062-25 returned 15.1m at 175g pt AgEq from 149.5m including 4.6m @ 419g pt AgEq, confirming continuity with historical hole P374-11 (13.9m @ 156gpt AgEq from 158.1m). For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 9 Silvia Follow-up diamond drilling on wide -spaced sections has confirmed a 450m strike and 100m vertical zone of polymetallic mineralisation, open at depth and along strike. P061-25: 12.8m at 160g pt AgEq from 140.2m and P057 -25: 7.6m at 178g pt AgEq from 134.3m confirm consistent downhole thickness and tenor. Table 4: Cerro Leon project, significant drill hole assay results reported during the June 2025 quarter. AgEq GT = Silver equivalent grade multiplied by downhole mineralised interval (Grade Thickness) Prospect Hole ID From To Interval Au (gpt) Ag (gpt) Pb (%) Zn (%) AgEq AgEq GT MS LINK P005-25 46.6 119 72.4 0 16 0.6 1.2 83 5982 including 99.18 104.55 5.37 0.12 62 2.2 4.5 305 1639 MS LINK P007-25 56.5 130 73.5 0.04 13 0.4 1.1 70 5128 P008-25 47.05 72.2 25.15 0.08 26 0.7 1.9 125 3148 CSS P009-25 5.45 17 11.55 0.49 123 0.1 0.2 173 1994 and 48 65.1 17.1 0.21 66 0.2 0.3 100 1705 and 116 129 13 0.16 25 0.7 2.4 150 1954 MS LINK P010-25 2 15 13 0.1 42 0.7 0.1 72 934 and 40 89 49 0.03 12 0.5 0.9 63 3070 and 128 135.5 7.5 0.05 14 0.8 2.3 129 968 and 172.1 174.6 2.5 0.5 16 0.4 4.4 240 599 KASIA P011-25 79.5 86.5 7 0.02 50 1.2 1.7 149 1045 CSS P014-25 119.8 130.7 10.9 0.22 34 0.3 1.3 111 1204 P019-25 71.67 78.07 6.4 0.37 21 0.6 3 184 1179 SAVARY P028-25 105 118.35 13.35 0.44 24 0.5 1 111 1487 P029-25 104.6 112.5 7.9 0.95 36 0.4 2 201 1588 P030-25 92.6 108.6 16 0.96 49 1.6 3.2 293 4685 and 97.6 106.6 9 1.63 78 2.6 5 472 4247 KASIA P035-25 118.65 132.25 13.6 0.02 10 0.7 1.5 89 1205 P036-25 129.7 145.75 16.05 0.03 11 0.2 2.7 125 2005 KARINA P039-25 78.15 94.3 16.15 0.51 42 1.2 0.4 129 2087 P042-25 11.4 19 7.6 0.9 876 1.1 0.1 980 7448 P043-25 26.15 32.5 6.35 0.76 227 0.9 0 311 1974 and 42 47 5 2.49 46 0.1 0 248 1239 SAVARY/KARINA P046-25 20.85 59.5 38.65 0.57 114 0.5 0.1 176 6815 P049-25 21.8 35 13.2 0.46 54 1.3 0.1 128 1689 and 42 55 13 0.52 707 0.3 0.4 772 10,036 MARTA SUR P050-25 204.75 221.5 16.75 0.07 12 0.4 1.6 91 1522 KASIA P054-25 60.65 100 39.35 0.09 12 0.5 3 150 5911 including 84.9 88 3.1 0.44 38 1.5 11 545 1690 MARTA SUR P055-25 124.2 136.2 12 0.01 5 0.1 2.2 95 1141 SILVIA P057-25 134.35 142 7.65 0.17 76 1.3 1.4 178 1362 SILVIA P061-25 140.2 153 12.8 0.3 35 1 1.9 160 2041 IVONNE P062-25 134.4 149.5 15.1 1.44 29 0.1 0.8 178 2692 For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 10 Prospect Hole ID From To Interval Au (gpt) Ag (gpt) Pb (%) Zn (%) AgEq AgEq GT inc. 134.4 139 4.6 3.79 74 0.1 1 419 1928 MS LINK P069-25 41 69.6 28.6 0.04 36 0.9 1.8 133 3808 including 57.5 64.6 7.1 0.09 112 2.5 4.7 368 2615 ARCHEN P071-25 176.5 184.5 8 1.3 21 129 1038 P072-25 163.5 167.3 3.8 2.3 149 328 1247 SAVARY P073-25 115 122.5 7.5 0.29 30 1.1 2.4 176 1319 P074-25 104.75 111.7 6.95 0.13 14 0.4 5.8 263 1829 P074-25 157.5 169.7 12.2 0.97 50 1.5 3.6 308 3755 CSS P076-25 98 101.9 3.9 0.74 260 0.6 1.5 394 1535 P077-25 26.8 36.5 9.7 0.11 40 0.3 1.4 112 1083 P077-25 48 55.6 7.6 0.39 51 0.6 1.8 168 1280 KASIA P079-25 95.95 116.5 20.55 0.09 8 0.4 3.7 171 3519 KARINA P080-25 95 101 6 0.56 44 1.3 4 280 1678 P080-25 140.5 151.3 10.8 0.19 19 0.5 1.6 110 1188 P081-25 17 22 5 0.84 87 1.9 0 203 1014 P081-25 102 106 4 0.55 417 0 0 461 1844 P082-25 124.45 133 8.55 0.21 25 0.8 1.4 117 1004 KASIA P083-25 47 105.55 58.55 0.06 8 0.4 1.2 70 4117 TRANQUILO PR001-25 55 67 12 0.37 364 1.1 0.7 449 5392 PR002-25 60 66 6 0.17 167 0.2 0.5 205 1233 KARINA PR003-25 9 29 20 0.57 59 1.2 0.1 139 2784 PR003-26 57 64 7 2.35 26 0.6 0.2 237 1661 PR004-25 49 56 7 0.3 40 1.5 1.3 154 1075 PR004-25 81 107 26 0.27 255 0.5 0.8 321 8344 PR004-25 91 94 3 1.03 1839 1 1.4 2002 6006 MARTA N PR006-25 35 50 15 0.1 65 0 0 73 1095 PR007-25 39 52 13 0.14 121 0.3 0 140 1818 PR008-25 1 37 36 0.41 436 0.2 0 474 17061 PR008-25 16 29 13 0.8 1024 0.3 0 1096 14244 MARTA NW PR011-25 87 95 8 0.25 138 0.1 0 161 1284 KARINA PR015-25 16 55 39 0.55 208 0.1 0 255 9928 PR015-25 38 45 7 0.93 903 1.3 0 1011 7074 PR016-25 12 50 38 0.45 78 0.1 0 117 4429 PR017-25 0 24 24 0.24 36 0.6 0.1 74 1787 PR018-25 22 36 14 0.57 121 0.6 0 182 2547 CSS PR021-25 22 26 4 0.59 285 2.4 0.2 401 1606 PR022-25 30 36 6 0.64 193 0.9 0.2 275 1651 CSS PR023-25 22 26 4 0.41 205 2.7 0.3 319 1275 SAVARY PR025-25 55 69 14 0.43 22 0.6 1.8 143 1997 PR026-25 78 85 7 0.42 21 0.5 2.4 162 1134 PR027-25 72 86 14 0.33 20 0.5 1.7 126 1766 PR028-25 79 82 3 2.45 98 2 2.2 432 1295 PR028-25 92 109 17 0.38 9 0.2 1.5 104 1762 For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 11 Prospect Hole ID From To Interval Au (gpt) Ag (gpt) Pb (%) Zn (%) AgEq AgEq GT PR029-25 77 88 11 1.88 91 1.7 2.2 372 4087 PR030-25 69 82 13 0.95 35 0.6 1.5 185 2411 KASIA PR031-25 34 51 17 0.43 28 0.5 1.7 142 2417 PR032-25 45 62 17 0.86 37 0.8 0.9 162 2749 PR035-25 80 90 10 0.09 22 0.4 1.9 114 1143 MARTA NW PR036-25 35 51 16 0.05 15 0.6 1 74 1180 Drilling Commences at Joaquin The Phase 1 drill program at Joaquín comprised 65 holes 9,009m of drilling, including both RC and diamond drilling. Assay results reported for 36 holes for 4,634m. Assay results for a further 27 holes for 3,932m remain pending. Significant assay reported during the period are shown in Figures 5 to 6 and Table 5. Joaquin PLUS 150 Oxide Resource Delineation and Expansion Joaquin hosts a substantial Foreign Estimate and an oxide silver-gold resource (see Tables 2 and 3), which have been the primary focus of the Phase 1 drilling program. Activities during the period included infill drilling aimed at increasing confidence in near-surface and high -grade mineralisation, alongside step -out drilling designed to test the southern extension and lateral continuity of mineralisation into the adjacent, underexplored Cerro Puntudo property. Significant assay results reported during the period include: • Step-out hole at La Morocha SE confirms new discovery (Figure 7) o JDD028-25: 69m at 163gpt AgEq from 124m, including 8.5m at 656gpt AgEq from 163.5m. • Step out drilling returns exceptional La Negra SE Extension (Figure 8 to 9) o JDD017-25: 90m at 144gpt AgEq from 10m, including 4m at 718gpt AgEq. o JRC017-25: 23m at 268 gpt AgEq from 98m, including 3m at 1,189 gpt AgEq. Phase 1 drilling has significantly expanded the known strike of mineralisation at La Negra from 1km to over 2km. Importantly, mineralisation is open to the north, south and at depth. Infill drilling is designed on a 25m by 50m grid to improve confidence in geological models and support the conversion of 2013 Foreign Estimate to a JORC (2012) MRE. Initial infill holes confirm historical mineralisation and highlight previously under-modelled high-grade zones, including hole JDD005-25 which is one of the best holes drilled to date at the prospect. o JRC024-25: 4m at 507gpt AgEq from 56m, and 53m at 161gpt AgEq from 76m. o JDD005-25: 28m at 522 gpt AgEq from 33m, including 7m at 1,474 gpt AgEq. New Brunilda Discovery located 1.5km east of La Negra on a parallel structure. Broad zones of near -surface silver mineralisation were intersected in all scout drill holes, highlighting strong potential for additional discoveries. o JRC011-25: 23m at 88gpt AgEq from 4m, including 8m at 134gpt AgEq. For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 12 Table 5: Joaquin Project, significant drill hole assay results reported during the June 2025 quarter. AgEq GT = Silver equivalent grade multiplied by downhole mineralised interval (Grade Thickness) In accordance with Clause 50 of the JORC Code, silver equivalent (AgEq) assay statement is calculated as Ag (g/t) + 79.18 x Au (g/t) where the silver price is $23.5/oz and recovery is 95%, gold price is $1964/oz and recovery is 90%. The metallurgical assumptions are based on metallurgical test work completed on 2013 La Negra drill core samples by Coeur Mining between 2012. In the Company’s opinion, the silver, gold, zinc, lead included in the metal equivalent calculations have a reasonable potential to be recovered and sold. Prospect Hole ID From To Interval Au (gpt) Ag (gpt) AgEq AgEq GT LA NEGRA JRC002-25 63 80 17 0.26 238 258 4,400 inc. 65 66 1 0.66 1161 1213 1,214 JRC003-25 88 103 15 0.19 83 98 1,473 JRC004-25 121 144 23 0.31 70 94 2,180 JRC007-25 7 34 27 0.14 43 54 1,463 JRC007-25 7 34 27 0.14 43 54 1,463 and 47 74 27 0.23 50 68 1,847 JRC008-25 53 141 88 0.27 49 70 6,213 and 87 133 46 0.48 56 94 4,342 and 130 150 20 0.69 57 112 2,244 BRUNILDA JRC011-25 4 27 23 0.25 68 88 2,024 JRC011-25 11 19 8 0.24 115 134 1,074 JRC012-25 2 45 43 0.05 45 49 2,107 JRC013-25 49 80 31 0.05 53 57 1,767 JRC014-25 47 89 42 0.13 44 54 2,285 LA MOROCHA JRC015-25 56 72 16 0.05 73 77 1,232 LA NEGRA JRC017-25 98 121 23 0.38 238 268 6,173 inc. 105 108 3 1 1109 1189 3,567 JRC018-25 37 48 11 0.05 219 223 2,453 JRC022-25 38 53 15 0.07 253 258 3,879 Inc. 40 44 4 0.18 557 571 2,285 LA NEGRA JRC024-25 56 60 4 0.1 499 507 2,028 And 76 129 53 0.33 135 161 8,554 Inc. 82 89 7 0.16 460 472 3,309 LA NEGRA JRC028-25 111 121 10 0.18 126 140 1,404 JRC029-25 117 125 8 0.11 206 214 1,718 JDD003-25 31 46.5 15.5 0.12 213 222 3,450 and 51 64 13 0.06 243 247 3,221 JDD004-25 78.15 110 31.8 0.11 96 104 3,337 JDD005-25 33 61 28 0.19 507 522 14,621 Inc. 39.7 47 7.3 0.28 1452 1,474 10,763 JDD017-25 10 100 90 1.3 40 144 12,960 inc. 23 27 4 8.7 20 718 2,873 and 28 44 6 6.5 35 559 3,354 For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 13 Figure 5: Drill hole location (historical and new) Figure 6: Significant intercepts (historical and new) For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 14 Figure 7: La Morocha SE cross section, hole JDD028-25 Figure 8: La Negra long section Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and as such there ha s been insufficient exploration to determine a mineral resource and there is no uncertainty that further exploration drilling will result in the estimation of a mineral resource. The Exploration Target has been prepared and reported in accordance with the Au stralasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition (JORC). For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 15 Figure 9: La Negra cross section, hole JDD017-25 Figure 10: La Negra cross section -holes JDD003-25, JDD004-25, JDD005-25 and JDD007-25 For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 16 Figure 11: La Negra cross section - holes JRC024-25, JDD001-25, JDD002-25 Corporate Summary of Expenses For the quarter ended 30 June 2025, the Company recognized $6.8 million in expenses related to exploration and evaluation activities, $1 86k in staff costs, and $ 394k in administrative and corporate expenses, which included realized foreign exchange losses. A significant reduction in cash outflows is expected in the September quarter, with drilling and field activities temporarily paused to prioritise delivery of a revised Mineral Resource Estimate (MRE) in September 2025. Payments to related parties The payments as disclosed in section 6.1 of the Appendix 5B. • Payment of $156k for Director’s fees for the quarter, and • Payment of $73k to Vistra Australia, an associated entity of Ms Melanie Leydin, for CFO and company secretarial fees during the June 2025 quarter. Cash balance at the end of the June 2025 quarter was $12.5 million. For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 17 Schedule of Tenements Description Tenement number Holder Interest owned by USL Metals Limited % Evelina, Argentina 423.826/MS/09 Minera 100 Lago Hermoso, Argentina 423.827/MS/09 Minera 100 El Salado Este, Argentina 423.828/MS/09 Minera 100 El Salado Central I, Argentina 424.985/MS/10 Minera 100 El Porvenir Norte, Argentina 421.672/MS/12 Minera 100 Tres Cerros Oeste, Argentina 422.990/MS/12 Minera 100 Sierra Morena I, Argentina 430.269/MS/14 Minera 100 Sierra Morena II, Argentina 430.270/MS/14 Minera 100 Cañadón La Angostura, Argentina 437.502/BVG/17 Minera 100 Van Norte, Argentina 437.503/BVG/17 Minera 100 Corona Norte, Argentina 437.470/BVG/17 Minera 100 Corona Sur, Argentina 437.472/BVG/17 Minera 100 Corona Este, Argentina 423.084/MLD/23 Minera 100 Corona Oeste, Argentina 423.085/MLD/23 Minera 100 Conserrat, Argentina 437.471/BVG/17 Minera 100 Felipe, Argentina 440.732/LD/19 Minera 100 Corona Este (Cateo), Argentina 422.315/MLD/23 Minera 100 Cerros Blancos, Argentina 32.053/M/2007 Minera 100 Arroyo de la Ventana, Argentina 32.056/M/2007 Minera 100 Paredes Este, Argentina 45.248/M/2020 Minera 100 Paredes Norte, Argentina 46.387-M-2021 Minera 100 Paredes Sur, Argentina 47.465-M-2022 Minera 100 Ofelia, Argentina 45.044-M-2020 Ivael 100 Quila Mahuida, Argentina 45.038-M-2020 Ivael 100 Vista Alegre, Argentina 45.035-M-2020 Ivael 100 Yanquihuen, Argentina 45.036-M-2020 Ivael 100 Comallo Arriba, Argentina 46.000-M-2021 Ivael 100 Doradillo, Argentina 46.001-M-2021 Ivael 100 Efeil, Argentina 46.002-M-2021 Ivael 100 Saladero Sur, Argentina 46.004-M-2021 Ivael 100 Ofelia Norte, Argentina 46.110/M/2021 Ivael 100 Cerro Bayo, Argentina 46.111-M-2021 Ivael 100 Rosillo Sur, Argentina 46.154-M-2021 Ivael 100 Vista Alegre Este, Argentina 46.166-M-2021 Ivael 100 Quila Mahuida Este, Argentina 46.178-M-2021 Ivael (Option) 100 Yanquihuen Oeste, Argentina 46.179-M-2021 Ivael (Option) 100 Bonito, Argentina 46.180-M-2021 Ivael (Option) 100 For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 18 Description Tenement number Holder Interest owned by USL Metals Limited % Ofelia Este, Argentina 46.181-M-2021 Ivael (Option) 100 Cañadon Guanaco Muerto Norte, Argentina 46.210-M-2021 Ivael (Option) 100 Cañadon Guanaco Muerto Sur, Argentina 46.211-M-2021 Ivael (Option) 100 Quinihuau, Argentina 46.208-M-2021 Ivael (Option) 100 Rosillo Oeste, Argentina 46.226-M-2021 Ivael (Option) 100 Nuevo Rosillo, Argentina 46.185-M-2021 Ivael 100 Rosillo Este, Argentina 48.045-M-2023 Ivael 100 Rosillo Occidental, Argentina 48.149-M-2023 Ivael 100 Main Rosillo, Argentina 48.150-M-2023 Ivael 100 Pingüino, Argentina 414.409/CID/00 SCRN Properties Ltd 100 Tranquilo 1, Argentina 405.334/SCRN/05 SCRN Properties Ltd 100 Tranquilo 2, Argentina 405.335/SCRN/05 SCRN Properties Ltd 100 Cañadón, Argentina 405.336/SCRN/05 SCRN Properties Ltd 100 Cóndor, Argentina 414.085/CID/00 SCRN Properties Ltd 100 Alto Condor, Argentina 400.720/SCRN/10 SCRN Properties Ltd 100 Cerro Contreras Oeste, Argentina 424.987/SCRN/10 SCRN Properties Ltd 100 Cerro Contreras Este, Argentina 424.988/SCRN/10 SCRN Properties Ltd 100 Diamante 1, Argentina 407.929/CID/03 SCRN Properties Ltd 100 Diamante 2, Argentina 407.928/CID/03 SCRN Properties Ltd 100 Plata Leon II, Argentina 445.249/SCRN/21 SCRN Properties Ltd 100 Plata Leon III, Argentina 421.850/SCRN/22 SCRN Properties Ltd 100 Plata Leon I, Argentina 432.542/SCRN/15 SCRN Properties Ltd 100 Menucos 6, Argentina 28.036-M-03 SCRN Properties Ltd 100 Menucos 7, Argentina 28.037-M-03 SCRN Properties Ltd 100 Menucos 8, Argentina 28.038-M-03 SCRN Properties Ltd 100 Menucos 9, Argentina 28.039-M-03 SCRN Properties Ltd 100 Menucos 10, Argentina 28.040-M-03 SCRN Properties Ltd 100 Menucos 11, Argentina 28.041-M-03 SCRN Properties Ltd 100 Menucos 12, Argentina 28.042-M-03 SCRN Properties Ltd 100 Menucos 13, Argentina 28.043-M-03 SCRN Properties Ltd 100 Sierra Blanca I 425.588/IAM/09 Sierra Blanca SA 100 Sierra Blanca II 422.899/MMA/10 Sierra Blanca SA 100 Sierra Blanca III 442.900/MMA/10 Sierra Blanca SA 100 Sierra Blanca IV 441.504/SB/19 Sierra Blanca SA 100 Sierra Blanca V 423.273/SB/23 Sierra Blanca SA 100 Cruz del Sur 404.119/IA/07 Sierra Blanca SA 100 Cruz del Sur II 410.747/IA/04 Sierra Blanca SA 100 Jacobito 426744-ER-09 IVAEL 100 Lazarito 426743-ER-09 IVAEL 100 For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 19 Description Tenement number Holder Interest owned by USL Metals Limited % Jacobito II 424982-ER-10 IVAEL 100 Lazarillo 423174-ER-10 IVAEL 100 Isaias III 426617-ER-11 IVAEL 100 Jacobito III 426620-ER-11 IVAEL 100 Isaias 426742-ER-09 IVAEL 100 Esmeralda 410449-CV-03 IVAEL 100 Isaias II 424981-ER-10 IVAEL 100 Vetas Joaquin 409.303/Mirasol/06 Minera Joaquin SRL 100 Quino I 413.854/Mirasol/06 Mineral Joaquin SRL 100 Quino II 413.855/Mirasol/06 Minera Joaquin SRL 100 Quino II-2 428.242/MA/14 Minera Joaquin SRL 100 Quino III 400.272/MA/07 Minera Joaquin SRL 100 Quino IV 403.093/Mirasol/07 Minera Joaquin SRL 100 Joaco IV 437.962/MJ/17 Minera Joaquin SRL 100 THIS ANNOUNCEMENT IS AUTHORISED FOR RELEASE TO THE MARKET BY THE BOARD OF DIRECTORS OF UNICO SILVER LIMITED CONTACT For more information, please contact: TODD WILLIAMS Managing Director todd@unicosilver.com.au Streamline Competent Person’s Statement This report contains information extracted from previous ASX releases which are referenced in the report. The Company is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and content in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. ASX Announcements 18 May 2023, Cerro Leon Resource Grows 84% to 92Moz 20 August 2024, Acquisition of Joaquin silver district 5 May 2025, Cerro Leon Drill Results For personal use only
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ASX Announcement 30 July 2025 JUNE 2025 QUARTERLY REPORT www.unicosilver.com.au 20 19 May 2025, New Silver Discovery Expands Joaquin Project 13 June 2025, Unico Outlines Growth Strategy 16 June 2025, Highest Silver Intercept to Date at Cerro Leon 20 June 2025, Infill Drilling at La Negra Returns High-Grade Silver 14 July 2025, La Negra Delivers Growth with Exceptional Drill Results 28 July 2025, Drilling Confirms New La Morocha discovery. Forward Looking Statement Certain statements in this announcement constitute “forward-looking statements” or “forward looking information” within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward -looking statements or information. Such statements ca n be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results, and speak only as of the date of this announcement. All such forward-looking information and statements are based on certain assumptions and analyses made by USL’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors managem ent believe are appropriate in the circumstances. For personal use only
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Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Unico Silver Limited ABN Quarter ended (“current quarter”) 34 116 865 546 30 June 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for (6,810) (15,250) (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (186) (675) (e) administration and corporate costs (394) (1,878) 1.3 Dividends received (see note 3) - - 1.4 Interest received 276 507 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) (13) (13) 1.9 Net cash from / (used in) operating activities (7,127) (17,309) 2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (84) (84) (d) exploration & evaluation - - (e) investments, net of cash acquired - (4,813) (f) other non-current assets - - For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - 33 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (net gains received from the sale of Bonds) 15 1,189 2.6 Net cash from / (used in) investing activities (69) (3,675) 3. Cash flows from financing activities - 30,500 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities (52) (2,064) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities (52) 28,436 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 19,827 5,052 4.2 Net cash from / (used in) operating activities (item 1.9 above) (7,127) (17,039) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (69) (3,675) 4.4 Net cash from / (used in) financing activities (item 3.10 above) (52) 28,436 For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 4.5 Effect of movement in exchange rates on cash held (60) 15 4.6 Cash and cash equivalents at end of period 12,519 12,519 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 8,999 3,807 5.2 Call deposits 3,520 16,020 5.3 Bank overdrafts 5.4 Other (Short term bonds) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 12,519 19,827 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 229 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 7,127 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - 8.3 Total relevant outgoings (item 8.1 + item 8.2) 7,127 8.4 Cash and cash equivalents at quarter end (item 4.6) 12,519 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 12,519 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 1.76 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: No. Unico Silver Limited recorded a higher than usual level of exploration expenses, which are related to its drilling activities in Argentina, including four drill rigs operational across two projects (Cerro Leon and Joaquin). Drilling and field activities concluded at the end of the June quarter. 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: As mentioned in 8.8.1, the planned ~30,000m drill program was completed end of June 2025, resulting in a significant reduction in operating costs. As at quarter end, the Company has $12.5 million Cash and cash equivalents which is estimated to be sufficient to meet its operations for the next two quarters. For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Yes, the entity expects to be able to continue to meet its operations and meet its business objectives as a result of the actions contemplated in items 8.8.1 and 8.8.2. Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 30 July 2025 Authorised by: By the Board................................................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. For personal use only