Andean Silver Limited

Career chronology

• CFO from 9 December 2024; CEO from 23 February 2026; Managing Director from 1 July 2026: Andean Silver Limited — Managing Director; CEO from February 2026, then Managing Director from 1 July 2026. Annual Report for the transitional year ended 31 December 2025 (Annual Report, p. 45 CFO appointment effective 9 December 2024; p. 98 subsequent events, CEO effective 23 February 2026; corporate leadership transition is also dated on issuer page); Corporate and Management Team (Corporate page, lines 48–52, CEO from February 2026 and MD appointment on 1 July 2026)

• Previous role; dates not disclosed: Global Lithium Resources — Chief Financial Officer. Corporate and Management Team (Corporate page, line 51 (prior CFO role))

• Previous role; dates not disclosed: Hastings Technology Metals — Chief Financial Officer. Corporate and Management Team (Corporate page, line 51 (prior CFO role))

• 2014–2020: Otto Energy Limited — Managing Director and Chief Executive Officer. Corporate and Management Team (Corporate page, lines 51–52)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Role overlaps event; causation unproven. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Role overlaps event; causation unproven. The regulator proceeding names the operating company, not the individual. Current or prior role overlap is not evidence of personal causation; the annual report attributes historic issues to previous operators.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Suitability for the current role

Experience broadly matches current Managing Director and Chief Executive Officer remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Matthew Allen as Managing Director and Chief Executive Officer and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, formal qualifications and full career dates remain incomplete, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 48–52)

Evidence gaps

• No verified education institution or degree was identified in the reviewed sources; the issuer identifies FCPA status but this was not checked directly with the professional body.

• Prior-employer start/end dates beyond Otto Energy (2014–2020) and project-level personal delivery details are not established.

Career chronology

• 17 April 2024–current; Technical Director from 23 February 2026: Andean Silver Limited — Technical Director; CEO until 23 February 2026. Annual Report for the transitional year ended 31 December 2025 (Annual Report, pp. 26 and 42, Technical Director appointment and employment agreement commencement; p. 20 Competent Person statement)

• Most recent position before Andean; dates not disclosed: Northern Star Resources — Business development; evaluated project acquisitions and divestments, including Saracen/Northern Star merger and Super Pit acquisition. Corporate and Management Team (Corporate page, lines 70–74)

• Dates not disclosed: Saracen Minerals — Senior roles. Corporate and Management Team (Corporate page, lines 70–74)

Personal achievements

Chairman attributes Cerro Bayo acquisition and resource establishment to Laneyrie and team

2024–2025 · issuer reported · medium materiality

In the annual report, the chairman thanks Laneyrie for a pivotal role in helping Andean acquire Cerro Bayo and establish a high-grade silver-gold resource. This is an explicit issuer attribution; the source does not isolate his share of the team outcome or establish production delivery.

Attribution: Individual involvement documented. The chairman explicitly names Laneyrie and describes his contribution; the extent of individual decision authority or technical work is not quantified.

Relevance: Relevant to a technical director charged with continued exploration and resource growth.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Individual involvement documented. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Role overlaps event; causation unproven. The regulator proceeding names the operating company, not the individual. Current or prior role overlap is not evidence of personal causation; the annual report attributes historic issues to previous operators.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Suitability for the current role

Experience broadly matches current Technical Director remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Timothy Laneyrie as Technical Director and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, academic degree and full prior-career dates remain incomplete; the annual report identifies him as an AusIMM member and Competent Person, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 70–74; annual report, Board and Management Changes); Annual Report for the transitional year ended 31 December 2025 (Annual Report, p. 20, Competent Person statement; issuer reports AusIMM membership and full-time Technical Director employment)

Evidence gaps

• No university or academic degree was disclosed in reviewed sources; the issuer identifies Laneyrie as a geologist and the annual report identifies him as a Member of AusIMM/Competent Person, but membership was not checked directly with the professional body.

• Dates and decision authority in Northern Star/Saracen transactions were not established.

Career chronology

• Current at cutoff; exact commencement not established: Andean Silver Limited — Chief Operating Officer – Americas; General Manager Exploration. Corporate and Management Team (Corporate page, lines 80–84)

• Dates not disclosed: Newcrest Mining — Exploration technical/management roles. Corporate and Management Team (Corporate page, lines 80–84)

• Dates not disclosed: Billiton — Exploration technical/management roles. Corporate and Management Team (Corporate page, lines 80–84)

• Dates not disclosed: MIM — Exploration technical/management roles. Corporate and Management Team (Corporate page, lines 80–84)

• Dates not disclosed: Mirasol Resources — Exploration technical/management roles. Corporate and Management Team (Corporate page, lines 80–84)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Role overlaps event; causation unproven. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Role overlaps event; causation unproven. The regulator proceeding names the operating company, not the individual. Current or prior role overlap is not evidence of personal causation; the annual report attributes historic issues to previous operators.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Litigation and enforcement

Local claimant reports a criminal complaint and alleges historical Los Domos and current conflict concerns

Claim published 20 August 2026; claimed underlying role/activity in 2017; official Los Domos process 2019–2023 · alleged · medium materiality

A local activist/blog publisher, Andrés Gillmore, states that he filed a criminal complaint naming Damien Koerber and cites RUC 2601282110-6. The post alleges Koerber was involved as Southern Gold operations manager in 2017 Los Domos activity and accuses him/Andean of current improper influence through community-project support. These are allegations by the claimant, not findings of fact. The historic corporate exploration matter is separately supported by SMA’s official record: its docket shows a 2021 requirement for Southern Gold to enter Los Domos into Chile’s environmental assessment system and later process documents; it shows no associated sanctioning proceeding in that requirement file. The claimant’s further assertion of an active complaint could not be verified against an official public docket or disposition by the cutoff. No evidence reviewed establishes that community collaboration was improper.

Attribution: Responsibility unresolved. The claimant names Koerber and cites a case number, but the complaint itself, an official docket, charging document, or judicial determination was not located. The SMA matter establishes company-level regulatory history; it does not establish individual wrongdoing. No finding of misconduct is made.

Relevance: Material to an exploration/operations leader in Chile because it concerns a publicly reported allegation and the historical regulatory record; its unverified status substantially limits weight.

Denuncia en contra del representante legal y gerente de operaciones de minera Southern Gold SpA (Equus) y Andean Silver SpA (AQUIAYSÉN post, 20 August 2026, lines/sections “Exposición de hechos” and “Denuncia” (claimed RUC, allegations and alleged community support)); SNIFA requirement to enter Los Domos exploration into environmental assessment, REQ-006-2019 (SNIFA REQ-006-2019, file state, document history, requirement and no associated sanctioning proceeding)

Suitability for the current role

Experience broadly matches current Chief Operating Officer – Americas and General Manager Exploration remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Damien Koerber as Chief Operating Officer – Americas and General Manager Exploration and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, formal qualifications and full career dates remain incomplete, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 80–84; 2025 presentation management team slide)

Evidence gaps

• No education or professional-membership details were identified in the reviewed sources.

• Exact employer tenures, project-specific responsibilities, and complete safety/legal histories were not established.

• A local activist says a criminal complaint was lodged naming Koerber (RUC 2601282110-6), but the complaint document and any official case disposition were not located; the claims remain unverified allegations.

Career chronology

• Current at cutoff; exact commencement not established: Andean Silver Limited — Exploration Manager. Corporate and Management Team (Corporate page, lines 90–94)

• Dates not disclosed: Bellevue Gold — Senior geological roles. Corporate and Management Team (Corporate page, lines 90–94)

• Dates not disclosed: Bellavista Resources — Senior geological roles. Corporate and Management Team (Corporate page, lines 90–94)

• Dates not disclosed: Gold Fields Australia — Exploration geology roles. Corporate and Management Team (Corporate page, lines 90–94)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Role overlaps event; causation unproven. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Employer context; no individual link established. The regulator proceeding names the operating company, not the individual. Current or prior role overlap is not evidence of personal causation; the annual report attributes historic issues to previous operators.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Suitability for the current role

Experience broadly matches current Exploration Manager remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Alex Forster as Exploration Manager and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, formal qualifications and full career dates remain incomplete, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 90–94; November 2025 presentation management team slide)

Evidence gaps

• No degree, university, geology accreditation or professional membership was verified; the issuer identifies her as an exploration geologist.

• Exact prior role dates and attributable discovery outcomes were not disclosed in reviewed sources.

Career chronology

• Current at cutoff; exact commencement not established: Andean Silver Limited — General Manager; leads Chile operations and project development. Corporate and Management Team (Corporate page, lines 85–89)

• Dates not disclosed: KGHM — General Manager. Investor Presentation, November 2025 (Investor Presentation, December 2025, slide 7, management biographies: KGHM and Ausenco South America roles)

• Dates not disclosed: Ausenco South America — Commercial Director. Investor Presentation, November 2025 (Investor Presentation, December 2025, slide 7, management biographies: KGHM and Ausenco South America roles)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Role overlaps event; causation unproven. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Role overlaps event; causation unproven. The regulator proceeding names the operating company, not the individual. Current or prior role overlap is not evidence of personal causation; the annual report attributes historic issues to previous operators.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Suitability for the current role

Experience broadly matches current General Manager – Operations remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Alvaro Fuentes as General Manager – Operations and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, formal qualifications and full career dates remain incomplete, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 85–89; November 2025 presentation slide 11)

Evidence gaps

• No verified education, qualification or professional-membership details were identified.

• The issuer presentation's historical claims about asset sales over A$100 million do not name the transactions or define his individual responsibility; no individual achievement finding is assigned.

Career chronology

• Current at cutoff; exact commencement not established: Andean Silver Limited — Environment Manager. Corporate and Management Team (Corporate page, lines 95–99)

• Previous service; dates not disclosed: SERNAGEOMIN — Geologist; role details not disclosed. Corporate and Management Team (Corporate page, lines 95–99)

• Previous role; dates not disclosed: Environmental Assessment Service Executive Directorate (SEA) — Head of Environmental Assessment Department. Corporate and Management Team (Corporate page, lines 95–99)

• Previous role; dates not disclosed: Minería y Medio Ambiente Ltda. (Myma) — Project Manager. Corporate and Management Team (Corporate page, lines 95–99)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Role overlaps event; causation unproven. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Role overlaps event; causation unproven. The regulator proceeding names the operating company, not the individual. Current or prior role overlap is not evidence of personal causation; the annual report attributes historic issues to previous operators.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Suitability for the current role

Experience broadly matches current Environment Manager remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Sofia Aravena as Environment Manager and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, formal qualifications and full career dates remain incomplete, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 95–99; 2025 Annual Report (RSU holders); November 2025 presentation)

Evidence gaps

• No verified university, degree, geology/hydrogeology qualification, professional licence or membership was identified.

• Exact dates for Chilean public service and consulting roles were not disclosed.

Career chronology

• Appointed 20 March 2023–current: Andean Silver Limited — Company Secretary. Annual Report for the transitional year ended 31 December 2025 (Annual Report, p. 25, Company Secretary: role, LLB, BA (Hons), appointment 20 March 2023 and biography)

• Prior role; dates not disclosed: Bellevue Gold — Joint Company Secretary. Annual Report for the transitional year ended 31 December 2025 (Annual Report, p. 25, Company Secretary biography (former Bellevue Gold Company Secretary))

• Prior role; dates not disclosed: Bellanhouse Legal — Associate. Annual Report for the transitional year ended 31 December 2025 (Annual Report, p. 25, Company Secretary biography (associate at Bellanhouse Legal and HWL Ebsworth Lawyers))

• Prior role; dates not disclosed: HWL Ebsworth Lawyers — Associate. Corporate and Management Team (Corporate page, lines 100–104)

• Current at cutoff per undated issuer page: Alicanto Minerals; Bellavista Resources; Cygnus Metals; Midas Minerals — Company Secretary concurrent roles. Corporate and Management Team (Corporate page, lines 100–104)

Contributions and company outcomes

Cerro Bayo resource growth and acquisition are documented at company level

2024–30 June 2026 · issuer reported · medium materiality

Andean states that it completed the Cerro Bayo acquisition and expanded/established a high-grade silver-gold resource; by 30 June 2026 its reported resource was 136 Moz AgEq. The chairman directly credited Timothy Laneyrie and the team with the acquisition and resource establishment. This is an issuer-reported company outcome; for people other than Laneyrie, individual contribution is not established. The project remains on care and maintenance and current restart/feasibility work is planned, not delivered.

Attribution: Role overlaps event; causation unproven. The chairman specifically credited Laneyrie and the team with the acquisition/resource establishment; the source does not allocate separate causal responsibility to each manager. For Laneyrie, that is a direct issuer attribution; for other executives, role overlap only.

Relevance: Relevant to current project stewardship, but delivery remains exploration/resource definition rather than restarted production.

Annual Report for the transitional year ended 31 December 2025 (Annual Report, Chairman’s Letter; the chair attributes the acquisition and resource establishment to Laneyrie and the team); Cerro Bayo Project (Cerro Bayo Project, resource statement as at 30 June 2026 and forward-work-plans section, lines 56–58 and 80–95)

Environmental record

Cerro Bayo environmental compliance programme remains in execution

2024–9 October 2026 · documented · medium materiality

The SMA initiated case D-029-2024 with four charges against the Cerro Bayo operator relating to dust suppression over tailings, revegetation, groundwater monitoring and related environmental approvals. The official docket shows a compliance programme was approved on 6 November 2025, no sanction is listed, and the programme remained in execution at the cutoff. The annual report describes the matters as historical non-compliance attributable to previous operators and says the programme was approved, suspending the sanctioning process subject to full and timely execution, with no significant environmental damage identified. The regulator record controls on status; issuer characterization is attributed to the issuer. This is a company/project-level record and no reviewed source assigns responsibility to the listed executive.

Attribution: Employer context; no individual link established. The regulator proceeding names the operating company, not the individual; the annual report attributes historic issues to previous operators. No environmental-management responsibility or personal causation is established for the company secretary.

Relevance: Relevant as oversight and remediation context for a team advancing a restart; current programme completion was not established by cutoff.

SMA formula cargos a Minera Cerro Bayo por incumplimientos en el control de emisiones de material particulado y compromisos de monitoreo de variables ambientales (SMA release, 3 April 2024, summary and project description); SNIFA sanctioning file D-029-2024, Minera Cerro Bayo (SNIFA case D-029-2024, current state, charges table and document history, including 6 November 2025 approval); Annual Report for the transitional year ended 31 December 2025 (Annual Report, Environmental Regulation, pp. 13–14)

Suitability for the current role

Experience broadly matches current Company Secretary remit

Current role at 9 October 2026 · analyst inference · medium materiality

The issuer identifies Maddison Cramer as Company Secretary and describes relevant professional experience in the corporate biography. This supports a limited role-fit inference. Employer biographies are not independently verified, degree institutions, direct qualification verification and full career dates remain incomplete, and this is not a personal clearance.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred by the role-fit assessment.

Relevance: Role-relevant experience is disclosed by the issuer, but independent credential and chronology checks remain incomplete.

Corporate and Management Team (Corporate page lines 100–104; annual report, corporate directory); Annual Report for the transitional year ended 31 December 2025 (Annual Report, p. 25, Company Secretary; reported qualifications and career biography)

Evidence gaps

• The annual report states LLB and BA (Hons), but does not name the institutions; the degrees and professional status were not checked directly with awarding institutions or a professional body.

• Exact date ranges for private practice and prior secretary roles were not disclosed.