Tesoro holds one of the largest and most prospective gold properties in Chile. Unconstrained Mineral Resource Estimate of 1.46Moz Gold announced on 9 March 2023. TERNERA DEPOSIT MINERAL RESOURCE ESTIMATE PHASE 1 OPEN PIT SCOPING STUDY HIGHLIGHTS Study completed at an assumed life of mine price of US$1,750/oz MINE SCHEDULE 17.1 Mt at 1.2 g/t gold Initial open pit mine MINING PHYSICALS 2.4 Mtpa throughput For initial 8-year operating life STANDARD CIP PLANT 94.5% gold recovery Simple non-refractory metallurgy PHASE 1 GOLD OUTPUT 651 koz Average production 93 koz p.a. AISC US$1,068/oz Including US$8.6M of sustaining capital UPFRONT CAPITAL COST US$132M Including US$10.4M in pre-strip NPV5% US$201M Pre-tax at US$1,750/oz gold IRR 27.5% Pre-tax at US$1,750/oz gold PAYBACK 3.4 years Pre-tax from first production