Vicuña

• In December 2025, Vicuña submitted its application to join the Incentive Regime for Large Investments (RIGI) under the PEELP (Long-Term Strategic Export Projects), the first of its kind –copper- in Argentina. • In January 2026, Vicuña launched Tender Process for Construction of the Northern Corridor. • Vicuña has budgeted expenditures of US$900 million for 2026 for engineering activities, including the completion of the PEA and the work required to support it. Conceived as an operation starting at the Josemaría deposit, subsequent stages would transform it into a cross-border operation through the integration of activities in Argentina and Chile, with the progressive incorporation of the Filo del Sol deposit. Vicuña has three development stages; this sequence could enable the generation of funds to finance future expansions: • Stage 1: Development of the Josemaría deposit as a conventional open-pit mine, where the Central Sulfide Plant will be built for milling and flotation processes. • Stage 2: Expansion toward Filo del Sol to process oxide mineralization through a multi-stage leaching circuit designed for different types of ore blends. • Stage 3: Full consolidation with infrastructure expansion—including the potential incorporation of pipelines for ore, desalinated water, and power lines—and the expansion of the sulfide plant to process Filo ore, a milestone that would firmly position Vicuña as one of the world’s top five copper operations. On June 2026, Vicuña received the approval to join the RIGI as a Long-Term Strategic Export Project

The final product will be the copper, gold, and silver concentrate, which will be transported from the mine and exported to refinery plants abroad.

500,000 tonnes of copper, 800,000 ounces of gold, and 20 Moz of silver in the first 10 years, and average production of 400,000 tonnes of copper with an increase in silver to 22 Moz annually over the first 25 years.

Vicuña Project (Josemaria & Filo del Sol): Measured and Indicated Resources: 14.338 Kt copper, 36.1 Moz of gold and 729 Moz of silver / Inferred Resource: 32.255 Kt copper, 61.3 Moz of gold and 1,051 Moz of silver.

Copper/gold porphyry (Josemaria deposit) & High-sulphidation epithermal copper-gold-silver deposit associated with a large porphyry copper-gold system (Filo del Sol deposit)