Unico Silver Limited · ASX:USL
Unico Silver — Euroz Hartleys Institutional Conference 2026
24 slides from Unico Silver's conference presentation, Mar 17, 2026
Slide 1: The Next Tier-One Silver Development Company
Unico Silver ASX:USL For personal use only The Next Tier-One Silver Development Company Euroz Hartleys Institutional Conference INVESTOR PRESENTATION MARCH 2026
Slide 2: Forward Looking Statements and Disclosures
For personal use only Forward Looking Statements and Disclosures DISCLAIMER COMPETENT PERSON STATEMENT The following material is for general information purposes only and is not to be relied upon for the making of an investment This presentation contains information extracted from previous ASX relea
Slide 3: Vision and Strategic Pillars
VISION Strategic Pillars Resource Scale Development Pathway + Macro Tailwinds PFS Execution (oxide-led) & Jurisdiction For personal use only Build a globally significant, Consolidation of two adjacent silver development - ready silver districts Stage 1 “oxide first” development Fully funded accelera
Slide 4: Corporate Snapshot
Corporate Snapshot Register Composition HNW / Private investors Institutional Investors Austral Gold Rest For personal use only 45.62% 16.94% 6.74% 30.70% INCLUDING INCLUDING INCLUDING Board and insiders 29% Nokomis Capital 3% Eduardo Elsztain and associates 6.74% Eric Sprott 2.7% Sprott Asset Mgt 2
Slide 5: Leadership team: Board and In-Country Management
Leadership team: Board and In-Country Management For personal use only Peter Mullens Todd Williams Melanie Leydin José Bordogna Peter Canterbury Peter Holmes Chairperson Managing Director Non-Executive Director Non-Executive Director Executive Director Executive Director Geologist with 30+ years’ Ge
Slide 6: Corporate achievements
7 years operating in Santa Cruz Corporate achievements Leveraging over 260,000 m of drilling For personal use only Total drill meters Acquisition Exploration Mineral Financing 160,000 Resources 140,000 120,000 62,833 100,000 5 Transactions >95,000m 3 resources >$120m 33,708 USL 80,000 completed dril
Slide 7: Logical consolidation of underexplored silver district
Logical consolidation of underexplored, Plata Leon undercapitalised silver district Pinguino Sierra Blanca Joaquin For personal use only CERRO LEON Total endowment: 31Mt at 161gpt AgEq for 162Moz AgEq JOAQUIN Cerro Puntudo 45.3Mt at 115gpt AgEq for 167Moz AgEq PROJECT SUMMARY Conserrat Tier 1 - Cerr
Slide 8: Joaquin Mineral Resource
Joaquin Mineral Resource Increased by 148% silver equivalent resources to 167Moz AgEq Gold 26% Metal Mix For personal use only 2013 Foreign Estimate versus 2026 MRE Silver 74% 74% of contained metal New Resources primary silver 180 97Moz Mineral Resource AgEq Moz 160 140 120 131 Additional 27,723 me
Slide 9: Plus 150 Target Achieved
Plus 150 And Beyond 300 Target Achieved Development pathway underpinned by +100% increase in global resources in less than 12 months For personal use only 250 Strategic Objective In Short In Detail 200 Development Strategy • Initial focus on free-milling oxide conventional processing as the foundati
Slide 10: La Negra & La Negra SE Block Models
La Negra & La Negra SE Block Models NE - SW Section Views LA NEGRA SE For personal use only SECTION 1 SECTION 1 LA NEGRA SECTION 2 View Looking To SE 100m SECTION 2 AgEq (ppm) >150 70 - 150 40 - 70 Indicated Inferred 300m 100m ASX:USL 10
Slide 11: La Morocha & La Morocha SE Block Models
La Morocha & La Morocha SE Block Models LA MOROCHA SE NE - SW Section Views SECTION 2 SECTION 1 LA MOROCHA For personal use only SECTION 1 View Looking To SE 100m SECTION 2 AgEq (ppm) >150 70 - 150 40 - 70 Indicated Inferred 200m 100m ASX:USL 11
Slide 12: Unico Silver is rapidly becoming a leading pure-play silver developer
Unico Silver is rapidly becoming a leading pure-play silver developer Resource Growth Increase . Decrease Total 185Moz of primary silver resources with significant gold 350 97 For personal use only 300 250 South American Silver Developers 69 Primary Silver Resources AgEq (Moz) 200 500 74 450 150 -4
Slide 13: Global Silver Majors
Global Silver Majors Unico Silver is well positioned to deliver a Tier-One Silver asset producing 5-7Moz pa Ag Moz Ag Moz Company Valuation Asset (2025) (2026E) Annual Silver production of For personal use only Los Gatos 5.9 5.1 assets held by Global Majors 5.4 4.2 ~5Moz Ag San Dimas First Majestic
Slide 14: Development timeline
Development timeline Accelerating for maiden feasibility, RIGI approvals and EIA application by CY2026 2026 2027 2028 For personal use only Granted Resource Mining Leases - Exploration ✓ MRE Update - MRE ✓ 50,000m drilling Mining Agreements in Development studies place until - Geotechnical ✓ PFS due
Slide 15: Cerro Leon
Cerro Leon 162Moz AgEq resource confirms second cornerstone asset in the Joaquin Silver District For personal use only Significant Resource Growth • 31Mt at 161g/t AgEq for 162Moz AgEq (JORC 2012 Mineral Resource). • 73% increase in contained ounces since the May 2023 resource estimate. • Resource g
Slide 16: New Discoveries Drive Resource Growth
New Discoveries Drive Resource Growth Mineralisation remains open at all prospects For personal use only Cerro Leon Project – September 2025 Global Mineral Resource Recent drill highlights (May 2025) AgEq AgEq Ag Au Pb Zn Ag Au Pb Zn Category Tonnes (gpt) (Moz) (gpt) (gpt) (%) (%) (Moz) (Koz) (Mlb)
Slide 17: Cerro Leon Marta Este September 2025 MRE
For personal use only Cerro Leon Marta Este September 2025 MRE ASX:USL 17
Slide 18: Case Study: AbraSilver
Case Study: AbraSilver Capitalising on macro-tailwinds in silver and Argentina Closing the valuation gap For personal use only 12 Month Share Price Key advantages of RIGI ABRASILVER UNICO SILVER Performance 8.00 Reduced Corporate Tax Rate: Market Cap CAD$2.2B AUD$520M Corporate income tax reduced to
Slide 19: Track record of creating value
Track record of creating value Through M&A and Exploration For personal use only AgEq resources per 1000 USL Shares Maiden $110m in financings since April 2023: 600 Joaquin at sequentially higher prices $8m MRE $50m at 17c at 55c Accretive M&A: 500 Joaquin acquired Joaquin for USD$2m upfront Acquisi
Slide 20: Site Overview La Negra SE
Site La Negra SE Overview For personal use only La Morocha SE Joaquin camp Diamond Drilling Easy access, close to infrastructure La Negra SE (La Morocha SE only 350m from the Joaquin camp) ASX:USL 20
Slide 21: Disclosure of Mineral Resources - Appendix A
Disclosure of Mineral Resources Appendix A Table 1. Cerro Leon – 2025 JORC (2012) Mineral Resources For personal use only Category Tonnes AgEq (gpt) AgEq (Moz) Ag (gpt) Au (gpt) Pb (%) Zn (%) Indicated 9.4 190 57.8 95 0.54 0.57 0.95 Inferred 21.6 154 104 48 0.55 0.54 1.3 Total 31 161 162 62 0.55 0.5
Slide 22: Disclosure of Mineral Resources - Appendix B
Disclosure of Mineral Resources Appendix B Joaquin Mineral Resource Estimate as of 17 March 2026 For personal use only Indicated Inferred Total Ag Au AgEq Ag Au AgEq Ag Au AgEq Prospect Mt Ag Au AgEq Mt Ag Au AgEq Mt Ag Au AgEq (Moz) (koz) (Moz) (Moz) (koz) (Moz) (Moz) (koz) (Moz) La Negra 11.4 129
Slide 23: Development Strategy: Historical metallurgical testwork
Development Strategy: Underpinned by comprehensive historical metallurgical testwork Appendix C For personal use only PLUS 150 Exploration Target is limited to mineralised domains considered to be free milling and recoverable via whole ore cyanidation Significant metallurgical testwork complete from
Slide 24: Unico Silver
Unico Silver ASX:USL For personal use only unicosilver.com.au INVESTOR PRESENTATION
Unico Silver — Euroz Hartleys Institutional Conference 2026 on 6ix