With silver prices up nearly 30% in 2024 and a bullish outlook ahead, Santacruz Silver is positioned to take advantage of this momentum through its strong production base. In Q3 2024 alone, Santacruz produced 4.64 million silver equivalent ounces, including 1.7 million ounces of silver and over 23,000 tonnes of zinc. ➡️ Q3 2024 Financial Highlights: Revenue increased 21% YoY to US $78 million EBITDA increased 242% YoY to US $16 million Operating Cash Flow 2,623% YoY to US $21 million Cash and cash equivalents increased 505% YoY to US $18 million Working Capital was $24,191 at the end of Q3 2024, improving from a deficit of $43,168 as of Q4 2024. Santacruz has high-quality producing assets in Bolivia and Mexico, including the Bolivar (45% ownership), Porco (45% ownership), and Caballo Blanco mines (100% ownership) in Bolivia, and the Zimapan mine (100% ownership) in Mexico. ➡️ Beyond its production capabilities, Santacruz also operates a feed sourcing business, San Lucas Feed Sourcing, which focuses on sourcing regional mineralized material and processing it at the Bolivar, Porco, and Don Diego milling facilities. This operation, wholly-owned by Santacruz, produces lead and zinc concentrates with payable silver, providing fair and transparent processing services for local mining groups. ➡️ Additionally, Santacruz fully owns the Soracaya Exploration Asset in Bolivia, with initial inferred resources indicating a high-quality silver project. Located just 4.4 km from Pan American’s San Vicente mine and part of the same mineralized system, Soracaya offers development options. Recent exploration includes a 29 km² surface IP survey and trenching, along with 29,604 meters of drilling across 95 holes, indicating potential for resource expansion. ➡️ Recently, Santacruz restructured its purchase agreement with Glencore, securing terms that provide financial flexibility. The revised terms include two key considerations: (1) a cash payment of $40 million due on or before November 1, 2025, and (2) a Conditional Value Right (CVR) of $77 million, contingent upon zinc prices exceeding $3,850. The new agreement also allows Santacruz to retain VAT returns amounting to $58 million, eliminates all Net Smelter Return (NSR) considerations (previously valued at approximately $8 million per year), plus Santacruz keeps inventory remaining at the purchase date valued at $9 million. ➡️ Santacruz is led by a highly experienced management team with deep expertise in mining and finance, enabling the company to capitalize on the ongoing momentum in the silver market. ➡️ Investor Breakdown: Retail: 84%; Management & Insiders: 9%; Institutional Funds: 5%; SILJ ETF: 2% ➡️ C$98M Mkt Cap  ➡️ P: C$0.275; 52wk H/L: C$0.48/C$0.177 ➡️ 355M S/O; 373M FD  (As of Nov 26, 2024) ♦️ TSX.V: SCZ ♦️ OTCQB: SCZMF ♦️ FSE: 1SZ ♦️ ➡️ Santacruz Silver Website: https://santacruzsilver.com/