Slides
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August 14, 2026 Second Quarter 2026 Results A World -Class Discovery in the Right Part of the World
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Important Notice and Disclaimers 2 Important Information The following slides are part of a presentation by Sinda Ltd. (the “Company,” “we,” “our” or “us”) in connection with reporting quarterly financial results and are intended to be viewed as part of that presentation. No representation is made that the information in these slides is complete. For additional financial, statistical and business-related information, see the earnings release included as an exhibit to the Company’s Current Report on Form 8-K filed on August [14], 2026, and available in the Investor Relations section on the Company’s website ([investors.sinda.mx]) and the website of the Securities and Exchange Commission (“SEC”) (www.sec.gov). Cautionary Note Regarding Forward-Looking Statements Certain statements in this presentation and the accompanying oral commentary are forward-looking statements and relate to or are based on estimates regarding market and industry data that we prepared based on management’s knowledge and estimates, together with information obtained from publicly available resources, other third-party sources, and other contacts in the markets in which the Company operates. Management’s estimates are derived in part from third party sources and data from the Company’s internal research. The Company does not guarantee the accuracy or completeness of this information, and the Company has not independently verified this information. In presenting market and industry data in this presentation, management has made certain assumptions based on the data available to the Company and other sources, as well as on management’s knowledge of, and experience to date in, the industry and markets in which the Company operates. These statements relate to future events or the future performance of the Company, as well as its business strategy and plans and objectives for future operations, and are subject to a number of known and unknown risks, uncertainties and other factors, including the risk factors set forth in our registration statement on Form S-1 filed with the SEC and other filings that we make from time to time with the SEC, that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by words such as “aim,” “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “project,” “predicts,” “plans,” “future,” “ongoing,” “targets,” “guidance,” “forecast,” “indicate,” “approximately,” “current,” “intend,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” and similar expressions or terminology. All statements other than statements of historical fact could be deemed forward-looking, including any expectations regarding the Company’s commercial and/or research and development initiatives; any projections of financial information, market opportunities or profitability; any statements about historical results that may suggest trends for the Company’s business; any statements of the plans, strategies, and objectives of management for future operations; any statements of expectation or belief regarding future events, potential markets or market size, or technology developments; and any statements of assumptions underlying any of the items mentioned. The Company has based these forward-looking statements largely on its current expectations, assumptions, estimates and projections. Such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control. These and other important factors may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this presentation are made only as of the date hereof. Except to the extent required by law, the Company assumes no obligation and does not intend to update any of these forward-looking statements after the date of this presentation or to conform these statements to actual results or revised expectations. Market data and industry information used throughout this presentation are based on management’s knowledge of the industry and the good faith estimates of management. Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys and other data obtained from third-party sources and our own internal estimates and research. We have not independently verified, and make no representations as to the adequacy, fairness, accuracy or completeness of any information obtained from third-party sources. In addition, no independent source has evaluated the reasonableness or accuracy of our internal estimates or research and no reliance should be made on any information or statements made in this presentation relating to or based on such internal estimates and research. The Mineral Resource and Exploration Target estimates contained in this presentation were derived from the Technical Report Summary, Sinda Project, Guanajuato, Mexico, dated January 19, 2025 (the “Technical Report Summary”) and the addendum to the Technical Report Summary, dated June 2, 2026 prepared by SRK Consulting (U.S.), Inc. (“SRK”) in accordance with subpart 1300 of Regulation S-K (“S-K 1300”) with an effective date of November 24, 2025, and have not been updated since that time. This presentation refers to estimated Mineral Resources, including Inferred Mineral Resources and Indicated Mineral Resources. The estimates include mining dilution and mining recovery. Mining dilution and recovery factors vary and are influenced by several factors including deposit type, deposit shape and mining methods. The Mineral Resource estimates contained in this presentation may be materially affected by changes to the geological, geotechnical and geometallurgical models, infill drilling to convert material to a higher classification, drilling to test for extensions to known Mineral Resources, collection of additional bulk density data and significant changes to commodity prices, and by environmental permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Inferred Mineral Resources are subject to significant uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an Inferred Mineral Resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability.
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3 Your Leadership Team Presenters Daniel Muñiz Quintanilla Executive Chairman María José Romero VP Operations
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4 Why Sinda? Daniel Muñiz Quintanilla Executive Chairman
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No title left of this line No title right of this line No title left of this line No logo above this line No logo below this line No logo below this line Introducing Sinda: A Differentiated Discovery that, in Quantity and Quality, Holds the Potential to Become the “Next Mining Giant” in Mexico Strategy to Take Sinda Up the Value Chain via Aggressive Exploration and Positive “News Flow” Driving NAV Through Asset De-risking and Uncovering the Multi-mine Potential of our District The Guanajuato Silver Rush “Guanajuato is a historical mining district... But now we are exploring in new parts new portions of this district where significant silver and gold veins have been discovered, brand-new structures, which were discovered by the use of epithermal methodology… And we had a very successful 2025 exploration results.” – Guillermo Gastelum (VP Exploration, Fresnillo), H2 FY2025 earnings call Notes: 1. The conceptual Exploration Targets range from 32 to 37 million tonnes of mineralized material at grades ranging from 400 to 440 silver-equivalent grams per tonne of mineralized material, which the Company estimates to be equivalent to approximately 452 to 484 million potential incremental silver-equivalent ounces, based on multiplying the high and low ranges of the tonnage by the high and low ranges of the silver-equivalent grade and converting these products from grams to ounces. Exploration Targets do not represent, and should not be construed to be, an estimate of a Mineral Resource or Mineral Reserve • Utilizing the Buchanan Model, Sinda Made its First Discovery in 2017 and Now Boasts 369 Moz AgEq of Inferred Resources, 16 Moz AgEq of Indicated Resources, and 452 – 484 Moz AgEq in Exploration Targets (1) • Sinda Has 15 Drill Rigs Currently Operating as of June 2026 • In 2025, Fresnillo Announced a Maiden Resource of 388 Moz Ag and 3 Moz Au at its Guanajuato project and Completed a Core Drilling Program with 122,098m Drilled • In 2026, Fresnillo Plans to Undertake Several Studies Expected to Form the Basis of a PEA by Year-End 2026 • Sinda Represents a Pure Play Focus in this Multi-Mine District ✓ Benefitting from Excellent Existing Infrastructure in the Industrial Center of the Country ✓ Led by a Seasoned Team with Decades of Experience in Mining in Mexico, including Infrastructure, Business Development, Community Engagement, Environmental Stewardship, and Permitting ✓ Community-first Approach; Significant Investments in the Community and Environment from Day 1, Consistent with the Mexican Paradigm Location, Location, Location: Guanajuato is a Historic Silver- Producing Region and Among the Most Prolific Silver Districts in the World’s Largest Silver-Producing Country ✓ 5
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6 Sources Fresnillo: https://www.proquest.com/openview/6b01896b049 9919342e13eaa9bc69403/1?pq- origsite=gscholar&cbl=15490#:~:text=Mining%20at% 20Fresnillo%20dates%20from,%22specimen%20frien dly%22%20mining%20system. Guanajuato: https://www.heliostarmetals.com/_resources/report s/Heliostar-Cerro-del-Gallo-Report-23Jan-26-v1- Signed.pdf?v=022707 pg. 51 Pachua https://pubs.geoscienceworld.org/gsa/books/edited- volume/785/chapter-abstract/3904505/Pachuca- Real-del-Monte-Mining-District- Hidalgo?redirectedFrom=fulltext El Oro https://xaligold.com/projects/mexico/overview/ Original report (in Spanish): http://xcaret.igeofcu.unam.mx/bogeolpdf/geo37/ge o37-1.pdf https://xaligold.com/site/assets/files/6302/cdg_ni43- 101-inferred-mineral-resource-mexico_mine-tail.pdf (district history does not state total historical prod pg. 40) No recent technical reports with production history for El Oro and Pachua To discuss further with counsel NTD: define and justify “giant” term in third bullet on LHS Source: January 2026 Cerro del Gallo Pre-Feasibility Study Is there another source for the district’s production other than the PFS of another QP? Located in one of the most prolific areas of Mexico’s world-renowned silver belt ✓ Access to readily available existing infrastructure ✓ Home to multiple iconic deposits which have each produced >1Boz Ag ✓ One of the last known undeveloped significant silver opportunities in Mexico ✓ 1.4+ Boz of Ag | 6.5 Moz of Au produced historically (2) 1.3+ Boz of Ag | 6.6 Moz of Au produced historically (3) Notes: 1. Source: November 2003 “Famous Mineral Localities: Fresnillo: Zacatecas, Mexico” University of Arizona, Department of Geosciences 2. Source: January 2026 Cerro del Gallo Pre-Feasibility Study 3. Source: C. Fries (1991), Geological Society of America, Economic Geology of Mexico 45 km southeast of Guanajuato Mining District ✓ Sinda interpreted as southeastern continuation of Guanajuato vein corridor ✓ 1.4+ Boz of Ag produced historically (1) Sinda is Located in the Heart of Mexico’s Prolific Silver Belt (The Belt of Silver)
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369 16 Already a Major Silver Discovery… in Proximity to “The Giants” 7 Source: Company Filings, Technical Report Summary; Note: Reserves and Resources of other assets based on latest publicly available information as of February 1, 2026 Notes: 1. Based on silver price of $32.00 per ounce, gold price of $2,750 per ounce, copper price of $4.25 per pound, zinc price of $1.30 per pound and lead price of $0.94 per pound 2. All Measured and Indicated Mineral Resources are inclusive of Mineral Reserves where applicable 3. Based on underground primary silver assets in Latin America with silver-equivalent Measured Mineral Resources and Indicated Mineral Resources greater than 15 million ounces and Inferred Mineral Resources greater than 20 million ounces 4. The conceptual Exploration Targets range from 32 to 37 million tonnes of mineralized material at grades ranging from 400 to 440 silver-equivalent grams per tonne of mineralized material, which the Company estimates to be equivalent to approximately 452 to 484 million potential incremental silver-equivalent ounces, based on multiplying the high and low ranges of the tonnage by the high and low ranges of the silver-equivalent grade and converting these products from grams to ounces. Exploration Targets do not represent, and should not be construed to be, an estimate of a Mineral Resource or Mineral Reserve Notable Underground Primary Silver Assets in Latin America (1)(2)(3) Moz AgEq 420 247 188 90 88 369 141 223 169 79 75 85 49 25 22 571 379 389 317 284 16 228 144 101 169 137 98 112 126 92 26 Inferred Measured & Indicated Exploration Targets (4) Existing Resource Recent M&A target Recent M&A target Recent M&A target + Development Asset Development Asset Fresnillo JuanicipioSaucito Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11SindaSinda ✓ Sinda is one of the last known undeveloped significant properties in the Mexican Silver Belt and represents a rare opportunity to develop a large-scale primary silver district ✓ Mexico alone hosts 13 of the top 15 underground silver assets in Latin America Mineral Resource Estimate of Peer Underground Primary Silver Assets in Latin America Development Asset Development Asset “The Giants” Development Asset one of the last undeveloped properties NTD: provide support to counsel 452 to 484
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Sinda’ s Grades Compare Favorably to Noteworthy Latin American Silver Assets 8 Source:Company filings, Technical Report Summary; Note: Mineral Reserves and Mineral Resources of other assets based on latest publicly available information as of February 1, 2026. Notes: 1. Based on assets with M&I or Inferred Mineral Resources >250 Moz AgEq 2. Based on silver price of $32.00 per ounce, gold price of $2,750 per ounce, copper price of $4.25 per pound, zinc price of $1.30 per pound and lead price of $0.94 per pound 3. Based on underground primary silver assets in Latin America with silver-equivalent Measured Mineral Resources and Indicated Mineral Resources greater than 15 million ounces and Inferred Mineral Resources greater than 20 million ounces 4. All Measured Mineral Resources and Indicated Mineral Resources are inclusive of Mineral Reserves where applicable Among the Top Notable Underground Primary Silver Assets in Latin America 386 604 507 498 471 469 454 441 418 417 306 279 241 224 121 Sinda Las Chispas Fresnillo San Dimas Juanicipio Palmarejo Complex La Colorada Uchucchac ua Saucito Panuco San Julian Los Gatos Huaron Cerro Las Minitas Los Ricos (N+S) 692 672 648 641 623 547 532 506 435 359 317 306 263 236 203 Sinda Las Chispas Fresnillo Juanicipio San Dimas Panuco Saucito Uchucchac ua Los Gatos La Colorada Palmarejo Complex San Julian Huaron Cerro Las Minitas Los Ricos (N+S) • Among the highest silver- equivalent resource grade profiles in Latin America – Among assets with a large contained resource, Sinda is among the top five(1) • Inferred Mineral Resources at 386 g/t AgEq • Indicated Mineral Resources at an average grade of 692 g/t AgEq Inferred Mineral Resource Grade Profile of Notable Underground Primary Silver Assets in Latin America(2)(3) g/t AgEq Measured Mineral Resource and Indicated Mineral Resource Grade Profile of Notable Underground Primary Silver Assets in Latin America(2)(3)(4) g/t AgEq M&I or Inferred > 250 Moz AgEq M&I or Inferred > 250 Moz AgEq
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Our Strategy: Building Sinda into Mexico's Next Great Silver District 9 Building our First Mine While Creating the Next Great Silver District Advance Caracol to Production Unlock Multi-Mine District Potential DUAL TRACK DEVELOPMENT • Deliver ~400,000 meters of surface and underground drilling to support resource growth, conversion and district-scale • Deliver updated Mineral Resource and PEA/PFS studies • Advance engineering, permitting and exploration decline development • Prioritize the highest-value mining areas within the Caracol– Agaves system • Advance the resource into production • Position Sinda for first production by the end of 2031 • Systematically unlock the full potential of the land package • Continue testing the remaining ~60%+ of identified vein systems that remain unexplored • Expand known mineralization through discoveries such as Don Diego • Advance new district-scale exploration targets • Develop a pipeline of future mining centers beyond the initial operation • Establish Sinda as a long-life, multi-mine silver district 1 2
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World-Class Mineral Endowment & Multiple Validated Exploration Targets 10 Source: Technical Report Summary Notes: 1. Tonnage, grade, and contained metal information based on the Technical Report Summary 2. Resource defined by a cut-off grade of 150 g/t AgEq assuming a silver price of $32.00/oz and a gold price of $2,750/oz 3. The conceptual Exploration Targets range from 32 to 37 million tonnes of mineralized material at grades ranging from 400 to 440 silver-equivalent grams per tonne of mineralized material, which the Company estimates to be equivalent to approximately 452 to 484 million potential incremental silver-equivalent ounces, based on multiplying the high and low ranges of the tonnage by the high and low ranges of the silver-equivalent grade and converting these products from grams to ounces. Exploration Targets do not represent, and should not be construed to be, an estimate of a Mineral Resource or Mineral Reserve Grade (g/t) Contained (koz) Tonnes (kt) Ag Au AgEq Ag Au AgEq Caracol Indicated 711 432 3.02 692 9,870 69 15,797 Inferred 19,494 259 1.75 410 162,441 1,099 256,860 Agaves Inferred 10,250 267 0.86 341 87,966 283 112,320 Total Indicated 711 432 3.02 692 9,870 69 15,797 Total Inferred 29,743 262 1.45 386 250,407 1,382 369,180 • Underground Mineral Resource Estimates (1)(2) (As of November 24, 2025) • Mineral Resource estimate based on drilling of ~230,000m from 2017-2023 • Two distinct primary deposit areas have been discovered and delineated so far: Caracol and Agaves • 369 Moz AgEq of total Inferred Mineral Resources at 386 g/t AgEq • 16 Moz AgEq total Indicated Mineral Resources at 692 g/t AgEq Discovery Areas Amidst Underexplored Land Package …and >4.6K ha Left to Explore Full page of map 32 to 37 Mt of mineralized material at 400 to 440 g/t AgEq (based on the Technical Report Summary) implying 452 – 484 Moz AgEq incremental Exploration Targets (3) +
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Large-Scale Land Package with Multi-Mine District Potential 11 Current Resource Estimate (369 Moz AgEq Inferred and 16 Moz AgEq Indicated) Just Scratching the Surface of the “Blue Sky” Drilled Exploration Targets (1) 38% of Identified Veins Not Fully Drilled Identified Veins 62% of Identified Veins Not Drilled 74% of Land Package “Overall averages of the drill results show about four blind veins for each mapped vein, which equates to potentially five individual structures per vein noted in surface mapping.” - Technical Report Summary 257 Moz AgEq Inferred & 16 Moz AgEq Indicated • Caracol 112 Moz AgEq Inferred • Agaves 452 to 484 Moz AgEq (1) SRK 2025 Exploration Targets – aim to convert Mineral Resource with closer spaced drilling Numerous Veins Identified Potential new discoveries across >4,600 ha land package not yet fully explored 3 4 1 2 Source: Technical Report Summary Notes: 1. The conceptual Exploration Targets range from 32 to 37 million tonnes of mineralized material at grades ranging from 400 to 440 silver-equivalent grams per tonne of mineralized material, which the Company estimates to be equivalent to approximately 452 to 484 million potential incremental silver-equivalent ounces, based on multiplying the high and low ranges of the tonnage by the high and low ranges of the silver-equivalent grade and converting these products from grams to ounces. Exploration Targets do not represent, and should not be construed to be, an estimate of a Mineral Resource or Mineral Reserve
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Current Resource Estimate Is Entirely Contained Within Just 26% of Our Land Package — and Based on Only 38% of Veins We Have Identified So Far 12 • +6,200 ha land package, of which 74% remains significantly underexplored Massive Land Package • Sinda’s five contiguous concessions span a large and prospective area, and have terms expiring between 2051-2058 ‒ Each concession is renewable for an additional term of at least 25 years Contiguous, Multi-Decade Concessions • Numerous exploration areas including Don Diego and Domo Potentially Single Large Mineralization Corridor • Phase 1 concluded — 60,810 meters drilled from October 2025 through June 2026 • Our strategy currently plans for ~345,000 meters of drilling over the next ~3 years, split between infill and exploration Aggressive Drilling Plans District Scale Exploration and Development Opportunity Underpinned by Multi-decade Long Duration Concessions
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Sinda’s Location Also Affords Us Infrastructure & Logistics Advantages 13 We Expect These Attributes to Support Future Lower Capital Intensity and Operating Costs ✓ Two international airports, each within a ~1.5 hours drive (within ~120 km) Airports Workforce ✓ Located in an active mining area with a skilled labor force. Close to Guanajuato and San Miguel de Allende; mining constitutes a significant portion of the regional economy Power ✓ Reliable power from the national grid, supplied by a national utility transmission line Roads ✓ Connected by paved roads to federal and state highways, 40- minute drive to urban centers such as San Miguel de Allende and Celaya, Guanajuato NTD - Please provide support for title sentence Rail bullet: NTD - Consider reverting to "Sinda is only 9 miles from the SIPSA Bajio Rail Terminal (Mexican cargo rail system)" to conform to S-1 Alternatively, we can update the S-1 to highlight this rail system ✓ Close to container port terminals on both the Pacific and Atlantic coasts ✓ Several options for water Other Infrastructure Rail ✓ Sinda is nearby to the Canadian Pacific Kansas City Rail system, providing access to Lázaro Cárdenas port
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2026 2027 2028 2029 2030 2031 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Development Catalysts Surface Drilling Results(1) Metallurgical Testing Underground Decline Underground Drilling EIA for Mine Construction Permitting for Construction Construction Capital Mine Construction First Production Technical Reports Updated Mineral Resource Estimate Initial Assessment ("IA" or "PEA") Pre-feasibility Study Feasibility Study Near-Term Catalysts Driving Value Now and into Production 14 Growing NAV through infill and exploratory drilling, technical work, and overall project de-risking Goal of Transitioning to Producer-like P/NAV Trading Ratios Through Project De-Risking Indicative Timeline Notes: 1. Current surface drill program commenced in October 2025
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15 Building Momentum: Second Quarter 2026 Strategic & Operational Review Daniel Muñiz Quintanilla Executive Chairman María José Romero VP Operations
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16 Sinda’s Market Debut Strengthens our Growth Strategy NYSE: SIND Since June 26, 2026 • Successfully commenced trading on the NYSE (Ticker: SIND) on June 26, 2026 • Raised ~US$331 million (gross proceeds) through the IPO, concurrent private placement and over-allotment option(1) • Strategic investments from Fresnillo and Franco-Nevada support the quality and long-term potential of the Project • Well-capitalized for the next 2 to 3 years, providing financial flexibility to execute our business plan • Strong balance sheet supports accelerated exploration, engineering, permitting and project development (1) Includes gross proceeds from the IPO, the exercise of the overallotment options granted to underwriters, and the concurrent placement with Fresnillo plc.
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Pillars to Success in Mexican Mining Pillars to Success in Mexican Mining Our Team: Built for Successful Mining in Mexico 17 PERMITTING SECURITY COMMUNITY ENVIRONMENT Leadership Strategy Finance TECHNICAL Permitting ✓Our philosophy is that approaching development correctly underpins permitting success, which we continue to achieve Environment ✓Sinda has plans to be a net positive water contributor and has already undertaken several environmental initiatives Community ✓We believe that we are uniquely positioned to advance development through long- standing community relationships Security ✓We possess a deep understanding of security matters in Mexico and have implemented effective measures from prior mines we have operated Technical ✓Our expertise within the Mexican mining industry in developing/operating major mines is unparalleled and will be instrumental in developing the country’s next significant silver asset Sources: https://mexicobusiness.news/mining/news/policy-permit- path-regulatory-clarity Daniel's 20+ Years of Experience Building Major Mines in Mexico Have Shaped Our Playbook We Understand What Repeatedly Wins in Mexico and Have Assembled a Winning Team for Each Decisive Execution Pillar
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Successfully Concluded Phase 1 of Surface Drilling Program 18 Second Quarter Highlights & Ongoing Progress • Completed ~61 km of Phase 1 drilling at ~$247 / meter, totaling $15.1 million • Infill drilling confirmed high-grade continuity at Dolores, while directional drilling delivered ~14 km of drilling savings and improved targeting efficiency • Don Diego drilling continues to support the potential connection between the Caracol and Agaves areas and district-scale growth potential Started Phase 2 of Surface Drilling Program Making Progress on Exploration Decline Development at Caracol Anticipate Updated MRE by Year-end 2026 Initial Assessment is Expected by Mid-2027 • Targeting 122 km by end of 2027 • Expected to significantly expand drill program, accelerating resource definition for a planned MRE update in December 2026 • Contract award expected; construction starting in 2H 2026 • Target start of underground infill drilling in 2H 2026 • Drilling cut-off set for September 2026. The updated resource estimate is expected to incorporate ~45 km results of infill drilling at Caracol and Agaves • Inferred to Indicated conversion; de-risks resource base; potential NAV re-rating • Expect Initial Assessment in Q2 2027 • First independent economic study to provide a preliminary assessment of potential project economics (Capex, AISC, production) 1 2 3 4 5
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19 Phase 1 | Surface Drilling Program Concluded Directional drilling has significantly enhanced the efficiency of Sinda's drilling campaign, generating approximately ~14 km of drilling savings, improving pierce-point accuracy, reducing drilling costs and accelerating resource definition at the Caracol deposit Meterage Growth, Structured Cost Allocation and Optimized Rig Positioning Across the Project Areas Summary Oct 2025 – Jun 2026 Meters Drilled per Area (m) Caracol Infill exploration 33,134 Don Diego step-out exploration 16,746 Other step-out exploration 10,930 Total Infill and Step-out Exploration 60,810 All-in Drilling Costs (Avg. US$/m) 247 Total Invested (US$ million) 15.1 • 61 km drilled across key project areas • 29 km drilled during Q2 • Drilling fleet ramp-up from 6 to 15 rigs ✓ ~33 km infill drilling at the Caracol area • Reduced drill spacing to ~50 m x 50 m in target areas for resource conversion ~27 km of step-out exploration drilling • Focused on Domo, Agaves, and Don Diego • ~17 km drilled in Don Diego zone; starting to develop the connection between Caracol and Agaves areas
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20 Phase 1 | Assays Continue to Confirm High-Grade Mineralization Preliminary Results • Don Diego continues to emerge as a significant exploration discovery, reinforcing the potential connection between the Caracol and Agaves areas • High-grade intercepts are being returned consistent with the geological model, reinforcing confidence in resource continuity and demonstrating the grade potential of the District • Intersected zones have typical epithermal quartz textures and sulfide mineralization occurring as disseminations and veinlets Surface Drilling Program – Outstanding Intercepts Oct 2025 – June 2026 ✓ Post IPO Results Assay Results Since IPO Continue to Support the Geological Model and Strengthen the Investment Thesis Hole ID Area From (m) To (m) Interval (m) Ag (g/t) Au (g/t) AgEq (g/t) CEAG-26-062 Don Diego 977.0 977.5 0.5 3,080 1.4 3,204 CEAG-26-062 Don Diego 981.6 982.3 0.8 1,350 0.7 1,408 CEAG-26-064 Don Diego 1147.5 1148.3 0.8 3,080 12.3 4,137 CEAG-26-065 666.0 666.5 0.5 2,250 22.7 4,201 CEAG-26-065 666.5 667.1 0.5 896 7.9 1,577 CECA-25-027-A Caracol 692.9 693.9 1.0 3,290 2.5 3,503 CECA-25-027-B 576.3 578.3 2.0 997 5.8 1,495 CECA-25-027-B 586.5 587.1 0.6 965 5.1 1,404 CECA-25-027-C 560.0 560.5 0.5 602 7.8 1,276 CECA-25-027-C 601.6 602.4 0.8 1,260 9.3 2,057 CECA-25-027-C 719.7 720.2 0.5 8,120 28.5 10,569 CECA-25-029-A Caracol 558.4 559.0 0.6 965 2.3 1,158 CECA-26-030-A 296.0 296.5 0.5 493 158.5 14,114 CECA-26-030-A 580.3 581.1 0.8 2,360 69.4 8,324 CECA-26-031-A 513.7 514.3 0.6 28 13.2 1,158 CECA-26-031-A 518.7 519.4 0.7 576 7.9 1,254 CECA-26-032-A 732.5 733.0 0.5 72 38.2 3,355 CECA-26-032-A 734.2 734.8 0.6 717 4.5 1,102 Don Diego Caracol Caracol Caracol Caracol Caracol
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21 Phase 1 | Assays Continue to Confirm High-grade Mineralization (Cont’d) • Exceptional assay results continue to support the geological model and reinforce district-scale potential • ~23,500 samples submitted to ALS, with ~80% of assays received, providing a strong pipeline of results for the year-end Mineral Resource Estimate Preliminary Results ✓ Post IPO Results Multiple High-Grade Intercepts Reinforce the Quality, Scale and Long-Term Growth Potential Surface Drilling Program – Outstanding Intercepts Oct 2025 – June 2026 Hole ID Area From (m) To (m) Interval (m) Ag (g/t) Au (g/t) AgEq (g/t) CECA-26-033-A 521.7 522.3 0.5 2,990 14.1 4,202 CECA-26-033-A 718.7 719.3 0.6 3,630 19.4 5,297 CECA-26-033-A 815.4 815.9 0.5 196 50.1 4,501 CECA-26-033-B Caracol 769.7 770.3 0.6 8,220 1.81 8,376 CECA-26-034-A Caracol 677.9 678.4 0.5 3,870 14.8 5,142 CECA-26-034-B Caracol 646.6 647.2 0.5 963 1.6 1,101 CECA-26-035-A 555.1 555.7 0.7 1,465 1.52 1,596 CECA-26-035-A 555.7 556.2 0.5 1,195 1.29 1,306 CECA-26-036-A Caracol 489.3 490.5 1.3 2,530 2.93 2,782 CECA-26-037-A Caracol 723.7 724.4 0.7 1,040 1.225 1,145 CEDO-25-008 Domo 624.7 625.4 0.6 753 15.1 2,051 CEAG-26-063 1020.5 1021.7 1.1 619 0.951 701 CEAG-26-063 1021.7 1023.2 1.5 124 0.221 143 CEAG-26-063 1023.2 1024.7 1.6 397 1.015 484 CEAG-26-063 Don Diego 1024.7 1026.0 1.3 266 0.62 319 CEAG-26-063 1026.0 1027.1 1.0 701 0.88 777 CEAG-26-063 1027.1 1027.6 0.5 500 0.502 543 CEAG-26-063 1027.6 1028.5 0.9 402 0.493 444 Caracol Caracol
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Don Diego: Potential Connection Between Caracol & Agaves Areas 22 The Potential Caracol-Agaves Connection Supports the Development of a District-Scale Mining Complex Note: Volumes represent current classified Mineral Resources as of November 24, 2025. • Drilling is progressively increasing confidence in the geological model supporting a potential connection between the Caracol and Agaves areas • Establishing this linkage would represent a value catalyst by expanding mineral resources and strengthening the case for a world-class silver district
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Don Diego: Potential Connection Between Caracol & Agaves Areas (Cont’d) 23 High Potential Zone Connecting Caracol and Agaves From (m) To (m) Interval (m) (1) Ag g/t Au g/t 976.25 976.95 0.70 352.00 0.27 976.95 977.45 0.50 3,080.00 1.44 977.45 978.05 0.60 276.00 0.19 978.05 978.75 0.70 49.40 0.08 978.75 979.30 0.55 231.00 0.22 • Don Diego is a prospective corridor between Caracol and Agaves • Our exploration drilling in Don Diego is expanding district continuity ‒ We interpret Don Diego as a prospective corridor representing a structural linkage between the Caracol and Agaves vein systems Don Diego Intercepts 976.25-979.30 (3.05 m) @ 726.76 g/t AgEq Including 976.95-977.45 (0.5M): 3,204 g/t AgEq Cross-Section of Don Diego Showing Holes 060, 062 & 063 Notes: 1. Drillhole intervals are reported downhole and may not equate to vein true thickness
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From (m) To (m) Interval (m) Ag g/t Au g/t 666.0 666.5 0.5 2,250.0 22.7 666.5 667.1 0.5 896.0 7.9 24 High Potential Zone Connecting Caracol and Agaves Don Diego Intercepts CEAG-26-064 1,147.50 – 1,148.39 (0.70 m) – 4,137.03 g / Ag Eq Cross-Section of Don Diego Showing Holes 064 & 065 Notes: 1. Drillhole intervals are reported downhole and may not equate to vein true thickness Don Diego: Potential Connection Between Caracol & Agaves Areas (Cont’d) CEAG-26-065 666 – 667.05 (1.05 m) @ 2,826 g/t AgEq Including 666 -666.5 (0.5M): 4,201 g/t AgEq From (m) To (m) Interval (m) Ag g/t Au g/t AgEq g/t 1,147.5 1,148.3 0.8 3,080.0 12.3 4,137.0
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25 Phase 2 | Surface Drilling Program Progressing as Planned Phase 2 Surface Drilling Plan • Total plan for ~122,000 meters drilled by end of 2027 • ~67 km planned for 2026 to accelerate resource definition & infill drilling • Expanding drill fleet from 15 to 18 active rigs in September: - Caracol infill (8) - Don Diego / Caracol-Agaves connection (5) - Agaves infill (3) - Geotechnical (2) • Balanced program—strengthening confidence in existing resources while simultaneously developing new areas ✓Summary Phase 2 2H 2026 Meters per Area (m) Caracol Infill ~31,000 Don Diego / Caracol-Agaves Connection ~19,000 Agaves Infill ~11,000 Other ~6,000 Total Exploration + Infill (m) ~67,000 Drilling – Targeting >50% of the Total 122,000m Program Goal in Two Quarters
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26 Caracol Exploration Decline | Advancing Underground Development Project Objective • Accelerate underground drilling and improve mineral resource confidence • De-risk project development and provide foundation for future production Project Scope • 9 km long decline with 5.5 m × 5.5 m profile • Fully equipped with drifts, crosscuts, ventilation, dewatering and pumping systems Design Philosophy • Engineered for exploration and data collection (geotechnical and hydrogeological) • Build to international mining standards to optimize for future production To Safely Unlock the Full Potential of the Sinda District While Providing the Foundation for Future Mine Development Exploration Decline Plan View Portal Design Caracol Exploration Decline | Tender Process Timeline Ongoing
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27 Q&A
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28 Appendix
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Globally Significant, High-Grade, Multi-Mine District 29 Proven Leadership ✓ Executive Chairman, Daniel Muñiz Quintanilla, brings unparalleled experience in Mexican mining and infrastructure ✓ Supported by a highly experienced, hand-picked, multidisciplinary team ✓ Execution model centered on community engagement Backed By The Electrum Group ✓ 30-year track record of success in natural resources ✓ Acquired the Sinda Property in 2016, with ~230,000m drilled since acquisition and >$100 million invested Strategic Location in Mexican Silver Belt ✓ Located within the Mexican Silver Belt with several >1 Boz Ag historic producers (Fresnillo: 1.4+ Boz Ag, Guanajuato: 1.4+ Boz Ag, Pachuca: 1.3+ Boz Ag) ✓ In the heart of world-class infrastructure and industrial operations of major international companies ✓ Investor protections under USMCA and growing importance of critical minerals Large Scale, High-Grade ✓ 369 Moz AgEq Inferred Mineral Resources at 386 g/t AgEq and 16 Moz AgEq Indicated Mineral Resources at 692 g/t AgEq as per the Technical Summary Report ✓ 452 – 484 Moz AgEq incremental Exploration Targets (1) ✓ 62% of identified veins not yet fully drilled, just 26% of 6,232 ha land package fully drilled ✓ 15 drill rigs active as of June 2026, currently planning 345,000m+ of surface and underground drilling ✓ Aiming to become a producer of global scale with an objective to be in production by 2031 Aggressive Exploration and Development Underway NTD – Counsel requires source for 13 drill rigs Notes: 1. The conceptual Exploration Targets range from 32 to 37 million tonnes of mineralized material at grades ranging from 400 to 440 silver-equivalent grams per tonne of mineralized material, which the Company estimates to be equivalent to approximately 452 to 484 million potential incremental silver-equivalent ounces, based on multiplying the high and low ranges of the tonnage by the high and low ranges of the silver-equivalent grade and converting these products from grams to ounces. Exploration Targets do not represent, and should not be construed to be, an estimate of a Mineral Resource or Mineral Reserve
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Our Executive Chairman, Daniel Muñiz Quintanilla, Brings Longstanding and Unique Experience in Mexican Mining 30 Demonstrated Track Record of Leadership 1994 - 2007 Corporate Finance and M&A Lawyer London and Mexico City CFO (2007-2014) Successfully raised $11Bn+ through a variety of securities CEO of Industrial Minera Mexico (2010-2018) Mining Division of Grupo México Board Member (2019-2024) Board Member (2021-2025) Acquired by First Majestic Silver in 2025Board Member (2008-2018) 20082007 2010 Managing Director and Executive Vice Chair of Americas Mining (2014-2018) Integrated operations: Mexico, Peru, USA & Spain 2014 2019 • Seasoned executive with unique experience in Mexican mining • 12 years as CFO and Executive Vice Chairman of Grupo México and Southern Copper: led restructuring and turnaround of ASARCO, delivered infrastructure projects across Grupo México's mining portfolio • Drove 285% total shareholder return during tenure at Grupo México • Founder and key executive across multiple independent mining ventures 2022 Board Member (2022-2025) 2021 A Production: Production Expansion: Development: Cuajone La Caridad IMMSA Toquepala Buenavista Cuajone Toquepala Buenavista Tia Maria Pilares El Arco Los Chancas A Select Execution Highlights (2007 – 2018) Board Member (2019-Present) Present Board Member (2023-Present) Board Member (2026-Present)
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Our Team: Built for Successful Mining in Mexico 31 Highly Experienced Across Key Disciplines with Extensive Connections in Mexico Security Community Technical EnvironmentPermitting Legend: Previous / Current Experience 20+ Years 20+ years of experience as a mining engineer with expertise in exploration, mine operations, mine development, and technical management. Maria has demonstrated success in directing multidisciplinary teams projects for Peñoles, Coeur Mining and Silver Bull Resources María José Romero 30+ Years 30+ years of experience across finance, accounting, and treasury operations, primarily in the mining and metals industry. Prior to joining Sinda, Scott has led finance teams at Jervois Global’s U.S. operations, ASARCO – Grupo México, and BHP. Scott has also obtained his CPA designation Scott Cole 15+ Years 15+ years of experience in the mining and natural resources sector, with a background spanning operations, finance, and M&A. Prior to joining Sinda, Fabián held senior positions at Grupo México overseeing its U.S. copper operations and other senior roles in strategic planning and M&A 25+ Years 25+ years across infrastructure, transportation and energy sectors with deep global transaction and capital markets expertise, including 12 years at Brookfield Infrastructure, and several years at Citigroup. Luis has also lived in Mexico for ~5 years when he opened Brookfield's Mexico office. He also co-founded MegaFlux, an EV powertrain manufacturer based in Mexico Luis Barreto 30+ Years 30+ years of experience as a transactional lawyer in M&A, private equity, structured finance, securitization, capital markets, restructuring and corporate governance. Counsel in numerous domestic and international equity offerings, including pioneering IPOs of Mexican issuers. Previously he was a partner at leading local firms 30+ Years 30+ years of experience leading governance, institutional relations, stakeholder engagement, and legal strategy across the public and private sectors. Carla’s experience spans across trade and industrial policy, renewable energy development, institutional justice reform, and government affairs Carla Llantada 30+ Years 30+ years of experience as an environmental lawyer across leading Mexican law firms, with responsibilities ranging from permitting, project development and litigation, as well as environmental management programs. Estefania joined Sinda over 4 years ago working as Director of Sustainability Estefania Nevarez 10+ Years 10+ years of experience in corporate affairs and as manager of ESG responsibilities across the Government of Sonora, and the development of Cerro del Gallo project previously owned by Argonaut Gold (now Heliostar Metals Ltd.). Prior to joining Sinda, Lourdes served as project director of Cerro del Gallo for about 2 years Lourdes McPherson Jaime Cortés Álvarez Fabián Galindo Technical Services VP, FinanceChief Financial Officer Institutional Relations Sustainability Community RelationsGeneral CounselCountry Manager Government of Puebla Government of Sonora Supported by a Board of Directors and Advisory Board with Significant Experience in Mexico
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Commitment to Safety & Responsible Mining 32 Embedded in Sinda’s Philosophy – Focused on Community Initiatives and Safety Since the Early Stages of Exploration Culture of Safety Community Partnership & Impact 600+ Local women trained to lead new workshops and micro- businesses 5,000+ Local schoolchildren benefited from the “Adopt a School” program • Our number one priority is the health and safety of our people • Zero fatalities and a steadfast commitment to zero harm • Implementing modern safety protocols to ensure every team member returns home safely • Environmental programs designed to meet or exceed all regulatory standards • Focused on responsible water conservation and protecting biodiversity Environmental Stewardship Health, Safety & Environment (HSE) Performance TRIFR Total Recordable Injury Frequency Rate(1) LTIFR Lost Time Injury Frequency Rate(1) Notes: (1) Per 200,000 hours worked. Fatalities (YTD) Hours without Lost-Time Incident 0 0 0 94,338 Hours Worked without a Lost-time Injury
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No title left of this line No title right of this line No title left of this line No logo above this line No logo below this line No logo below this line Contact Investor Relations: ir@sinda.mx Corporate Communications: media@sinda.mx IR Website: https://investors.sinda.mx