Annual General Meeting Investor Presentation

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INVESTOR PRESENTATION

Annual General Meeting

Jo Battershill – Managing Director

WHY INVEST IN SILVER MINES LIMITED

Bowdens Silver mineralisation remains open with outstanding drilling results along strike and at depth

Multiple options to extend mine life

Extensive tenement holdings – 2,115km2 at Bowdens and 747km2 at Tuena

Drilling has commenced at Bara Creek targeting Bowdens analogy (collapsed caldera)

Drilling targets identified at Tuena

Highly leveraged to a positive silver price environment

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SILVER MINES LIMITED CORPORATE INFORMATION

Share Trading History

0.40

0.35

XAG (US$/oz)

Capital Structure (ASX: SVL)

Directors

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Strong commitments to ESG through collection of detailed baseline environmental and social information

Governance policies ensure compliance with ASX corporate standards and promote a safe, non- discriminatory, diverse and inclusive workplace

Silver Mines Limited now Digbee ESG Certified

Digbee ESG is the industry standard disclosure framework for the mining industry

Highly credible score of BBB

reflecting robust process of technical design, environmental and social impact studies, assessment and consultation

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Advice received suggests the Development Application remains alive and on foot and has not been finally determined by the consent authority, the IPC

…the court had not refused the Bowdens DA but had declared

the consent void … the application remains on foot with the IPC to assess the application based on the law as it applies at the time of the IPC’s determination.” – Paul Scully - Minister for

Planning and Public Spaces

NSW government’s proposed amended legislation will permit the Planning Secretary to determine what forms part of a single proposed development

Bowdens Silver progressing with work programs to enable the IPC to consider the potential impacts of the transmission line under the relevant legislation

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Bowdens Silver falls under the New South

Wales Government’s Critical Minerals and High-Tech Metals Strategy

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Establishing NSW as a world leader for investment in sustainable mining is a key

priority for the NSW Government.”

… identify critical minerals as an emerging sector and represents a new future for the NSW mining

sector.”

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State royalties from mining are significant (FY2023 = $6.0 billion) and are budgeted to decrease to $2.8 billion in FY2026. NSW mining royalties are mostly coal

Deferral of the first five years of royalties for new critical minerals projects announced by the NSW Government in October

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• Monetary value and store of wealth
• Highest electrical and thermal conductivity of all metals
• The best reflector of visible light
• Global efforts to electrify and decarbonize will contribute to increased silver demand:
• Solar powered renewable energy
• Electric vehicles – solid state Ag-C batteries
• Broadband cellular (5G)

SILVER

PHOTOVOLTAIC

• Solar energy is an inexhaustible fuel source that is pollution free
• Solar capacity in China is now greater than the rest of the world combined
• In 2023, China installed more solar panels than the US has in its history
• US government policy states 100% ‘clean’ electricity grid by 2035
• 3 million solar panels are required to generate 1GW of energy

Paving the way for electrification and helping

shape the world’s

cleaner and greener future.

Demand from solar forecast to grow 3x by 2030