Announcement PDF INDEPENDENT REVIEW REPORT TO THE MEMBERS OF WEST COAST SILVER LIMITED Financial Report for the half-year ended 31 December 2025 westcoastsilver.com.au | ASX: WCE WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 1 CONTENTS Page Corporate Directory............................................................................................................................................................. 1 Directors’ Report ................................................................................................................................................................. 2 Directors’ Declaration........................................................................................................................................................ 18 Independence Declaration to the Directors of West Coast Silver Limited ......................................................................... 19 Independent Review Report to the Members of West Coast Silver Limited ...................................................................... 20 Consolidated Statement Profit or Loss and Other Comprehensive Income .......................................................................................................................................... 22 Consolidated Statement of Financial Position................................................................................................................... 23 Consolidated Statement of Changes in Equity.................................................................................................................. 24 Consolidated Statement of Cash Flow .............................................................................................................................. 26 Condensed notes to the Consolidated Financial Statements............................................................................................ 27 CORPORATE DIRECTORY Board of Directors Executive Chairman Mr Bruce Garlick Non-Executive Director Mr Thomas Reddcliffe Mr Eugene Sharrock Company Secretary Mrs Mindy Ku Principal Office Level 2, 10 Ord Street West Perth WA 6005 Postal Address 86 West Perth, Western Australia 6872 Contact Details +61 8 9322 3383 (Telephone) info@westcoastsilver.com.au (Email) www.westcoastsilver.com.au (Website) ABN 95 155 472 834 Auditors Stantons Level 2, 40 Kings Park Road, West Perth, Western Australia, 6005 Registered Office Level 12, 197 St Georges Terrace Perth, Western Australia 6000 Social Network Sites Twitter | @AuNiCuWA LinkedIn | West Coast Silver Ltd Share Registry Automic Level 5/191 St George’s Terrace Perth, Western Australia, 6000 1300 288 664 (Telephone) www.automicgroup.com.au (Website) Lawyers Steinepreis Paganin Level 4, The Read Buildings 16 Milligan Street, Perth, Western Australia, 6000 DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 2 The Directors of West Coast Silver Limited (the Group or Company) submit the financial report for the half-year ended 31 December 2025. In order to comply with the provisions of the Corporations Act 2001, the Directors report as follows: The names of the Directors of the Company who have held office during and since the end of the half-year are: Executive Chairman Mr Bruce Garlick Non Executive Directors Mr Thomas Reddclffe Mr Robert Mosig (resigned 16 October 2025) Mr Matthew Birney (appointed 8 September 2025, resigned 23 January 2026) Mr Eugene Sharrock (appointed 9 January 2026 (alternate), 23 January 2026 (full) The Directors held their position throughout the entire half-year period and up to the date of this report unless stated otherwise. PRINCIPAL ACTIVITIES The principal activity of the Group during the half-year period was exploration and evaluation of mineral interests. RESULTS The consolidated net loss of the Group for the half-year period after income tax expense was $6,638,651 (Dec 2024: loss $1,398,011. REVIEW OF OPERATIONS Executive Summary 1H / FY2026 was focused on advancing exploration at the high-grade Elizabeth Hill Joint Venture (WCE 70%), with activity centred on drilling for resource growth and target development. The Company successfully completed its 2025 drilling program in December 2025, comprising two phases of diamond drilling (25 holes) and an aircore program (76 holes), providing a strong technical foundation to support ongoing exploration and future resource definition. Work Completed and Forward Plans Elizabeth Hill JV • The Company’s focus has been on the Elizabeth Hill JV (70% WCE) with diamond and aircore programs completed by December 2025. The Company completed a total of 25 diamond drill holes for approximately 2,200 metres across two drilling phases during 2025: o Phase 1 Diamond Drilling, a total of twelve diamond core holes (25WCDD001-012) were completed for 1,183m with high silver grades being returned, including from 25WCDD001: 21m @ 1,047g/t Ag from 10m, incl. within 8m @ 2,632g/t Ag from 22m, and 1m @ 15,071g/t Ag from 27m. o Phase 2 diamond drilling, a total of thirteen holes (25WCDD013-025) completed for 1,015m to tighten near-surface weathered zone continuity and test deeper down-plunge targets beneath historical workings. Bonanza grade assay results have been released including a spectacular intercept in 25WCDD014 of 27.4m @ 1,314g/t Ag from 49m, including 0.35m @ 33,107g/t Ag from 74.6m. • During November and December 2025, the Company completed an aircore drilling program comprising 76 holes for a total of 1,060 metres. Drilling confirmed a fertile ultramafic–granite contact at the NM2, NM5 and NM6 prospects, consistent with the structural setting of historical high grade silver mineralisation at the Elizabeth Hill deposit. Follow-up work is ongoing. Aircore assay results are anticipated during February 2026. Andover South • There has been no further reconnaissance at White Quartz Hill undertaken in 2025. Errabiddy / Falcon Metals JV • Once the final phase of the rock chip sampling is completed by Falcon Metals (ASX:FAL), a heritage survey will be undertaken ahead of the first ever drilling program at Olsen Well. Binti Binti • The Company has commenced a review of the Binti Binti tenement (E27/577). DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 3 Figure 1. Location of West Coast Silver Projects DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 4 Elizabeth Hill JV (70% WCE) The Company’s 2025 exploration programs at the Elizabeth Hill JV consisted of 25 diamond holes (25WCDD001-025) (~2,200m) over two phases of drilling and 76 aircore holes (25WCAC001-076) (~1,060m). The diamond drilling delivered strong results confirming high-grade silver mineralisation and identifying new near-mine targets along a fertile structural corridor (refer Figures 2-6). • Phase 1 Diamond drill program: 12 holes (25WCDD001-012) (1,183m) targeted historical intersections. Significant success with a number of high-grade silver intercepts including: o 25WCDD001: 21m @ 1,047g/t Ag from 10m, incl. 8m @ 2,632g/t Ag from 22m, and 1m @ 15,071g/t Ag from 27m. o 25WCDD002: 15m @ 723g/t Ag from 1m, incl. 3m @ 2,639g/t Ag from 1m; plus 1m @ 2.03g/t Au from 4m. o 25WCDD011: 17m @ 858g/t Ag from 5m, incl. 2m @ 6,349g/t Ag from 7m; 10m @ 850g/t Ag from 47m; 13m @ 1,615g/t Ag from 62m, incl. 2m @ 10,049g/t Ag from 63m; plus 1m @ 11.1g/t Au from 51m. o 25WCDD012: 6m @ 317g/t Ag from 10m, incl. 1m @ 1,455g/t Ag from 13m, and 14m @ 162g/t Ag from 18m. o 25WCDD008: 6m @ 316g/t Ag from 44m, incl. 1.4m @ 1,007g/t Ag from 45m, and 21m @ 50g/t Ag from 20m. o 25WCDD010: 3.4m @ 219g/t Ag from 63m. • Phase 2 Diamond drill program: 13 holes (25WCDD013-025) (1,015m) to tighten near-surface weathered zone continuity and test deeper down-plunge targets beneath historical workings. Subsequent to the half, assays were released on 4 February 2026: o Native silver intersected in multiple drill holes with assays returning exceptionally high grades and broad zones of high-grade mineralisation:  25WCDD014: 27.4m @ 1,314g/t Ag from 49m incl. 4.15m @ 3,677g/t Ag from 52.85m and 0.35m @ 33,107g/t Ag from 74.6m (refer Figure 2).  25WCDD019: 22m @ 578g/t Ag from 6m incl. 0.9m @ 9,070g/t Ag from 9m.  25WCDD022: 1.95m @ 1,252g/t Ag from 54.6m incl. 1.2m @ 1,894g/t Ag from 54.6m. o Silver mineralisation in 25WCDD019 highlights exploration opportunities further northwest than any prior drilling, suggesting the mineralised system is still open and may extend significantly along the strike. o Furthermore, high grade drill results from 25WCDD019 and 25WCDD020 are hosted almost entirely in granite, unlike previous ultramafic dominated mineralisation, encouraging further exploration to the west of the main mineralised zone. DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 5 Figure 2. Photograph of sectioned and preserved half HQ3 drill core (25WCDD014) at 75.05m to 75.15m. This drill core shows 2mm to 4mm grains of native silver hosted within and adjacent to 5cm thick carbonate vein in an ultramafic host rock. Note: Intervals shown in the photo are contained within the assay intervals in the text above, but do not show the entire interval. • Aircore Drill Program: Following the Phase 2 diamond drill program an aircore program was completed in November and December with 76 aircore holes (25WCAC001-076) for a total of 1,060m. o Aircore drilling identified strong geological indicators, similar to those seen in drill core from recent diamond drilling at the historical high-grade Elizabeth Hill silver mine, including chlorite–silica alteration, carbonate veining and iron oxide staining associated with interpreted structures. o Drilling confirmed a fertile ultramafic–granite contact at the NM2, NM5 and NM6 prospects, consistent with the structural setting of historical high grade silver mineralisation at the Elizabeth Hill deposit. Follow-up work is ongoing. o Ongoing geological modelling and interpretation of mineralisation. o Assay results from the aircore program are pending. • The NM5 and NM6 prospects, about 300-500m south of the historical Elizabeth Hill mine, have been upgraded, based on the favourable geological setting and alteration mineralogy, and provide strong encouragement for priority follow up drilling. • A drone magnetic survey along the Munni Munni fault was completed collecting detailed high-resolution data to aid in identifying potential magnetic signatures akin to that associated with the Elizabeth Hill orebody. A larger, drone survey is being planned to be undertaken in 2026. A Loupe TEM survey to test for near surface conductive anomalies was also completed. DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 6 Figure 3. Significant silver intercepts from the 2025 diamond drill programs DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 7 Figure 4. Long section of Elizabeth Hill Silver Lode with significant 2025 silver intercepts Figure 5. Cross Section showing silver mineralisation in 25WCDD014 DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 8 Figure 6. Photograph of cut half HQ3 drill core (25WCDD014) from 53.45m to 54.18m showing 2mm to 4mm grains of native silver hosted within and adjacent to 1cm to 3cm thick carbonate veins in an ultramafic host rock. Next Steps Following the high-grade results intersected in the 2025 diamond drilling programs (Phase 1 and 2), the Company will progress exploration at Elizabeth Hill in a structured and disciplined manner. • Results from the 76-hole (1,060m) aircore drill program completed in November 2025 are pending and expected during February 2026. It is anticipated that any anomalous results will be utilised to refine targets for near-surface silver mineralisation and priority follow-up RC and diamond drilling. • Detailed geological and structural review of all 2025 drilling data, including the interpreted change in strike and plunge of mineralisation, particularly the newly identified targets in the northwest of the Elizabeth Hill Project. Planning of follow-up drilling, subject to results and approvals, targeting near-surface and near-mine extensions of known mineralisation. • Further drilling planned targeting : o extensions of high-grade mineralisation along strike and at depth. o near-mine targets adjacent to historical workings. o priority targets identified from aircore drilling and the new geological reinterpretation. o Surface and down-hole geophysical surveys to improve targeting and support drill planning during 2026. o JORC Mineral Resource Estimate and economic studies of near surface mineralisation will be undertaken to support ongoing evaluation of a development pathway. DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 9 Near Mine Targets Elizabeth Hill hosts a highly prospective suite of near-mine prospects that provide a clear and immediate pathway for rapid resource growth and new discoveries (Figure 7). • Multiple high-priority prospects located within a 1 km radius of the Elizabeth Hill Mine. • Cluster of prospects (NM1–NM6 and RS series) in close proximity to historical workings. • Strong structural control along the Munni Munni Fault corridor, consistent with known mineralisation. • Targets supported by drilling, surface geochemistry, and detailed geological mapping. • Geological signatures analogous to the high-grade Elizabeth Hill orebody. • Mineralisation remains open along strike and at depth. • Supports potential for resource extensions and new satellite discoveries. • Existing access and infrastructure enable lower cost, rapid drill testing. • Provides an immediate, high-impact exploration pipeline for near-term success. Figure 7. Priority Near Mine Prospects DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 10 Regional Targets The broader project area hosts a district-scale exploration opportunity, with multiple underexplored corridors providing a strong foundation for large-scale discovery beyond the Elizabeth Hill mine (refer Figure 8). • District-scale landholding (~180km²) covering multiple underexplored mineralised corridors. • Systematic regional geochemical sampling defining priority anomalies across the tenure. • Multiple untested and emerging targets located outside the near-mine area. • Evidence for large-scale mineralising systems extending beyond Elizabeth Hill. • Prospects ranked and prioritised through integrated geological, geochemical, and geophysical datasets. • Scalable exploration pipeline supporting long-term discovery and resource growth. Figure 8. Priority Regional Prospects DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 11 Radio Hill MOU provides Processing option for Elizabeth Hill: • West Coast Silver and Artemis Resources (ASX:ARV) jointly executed a non-binding Memorandum of Understanding (“MOU”) to collaboratively assess processing options for the Elizabeth Hill Silver Mine. • The evaluation will focus on the suitability of the Radio Hill Processing Plant to potentially treat material from WCE’s Elizabeth Hill Silver Mine. Other Projects & JV activity • Falcon Metals (JV, E09/2457): awaiting completion of a Heritage survey by ASX exploration company Falcon Minerals Ltd (ASX: FAL) ahead of first RC drilling at the Olsen Well gold anomaly (a 5.8km long-soil anomaly). • Portfolio focus: No field activities were undertaken at other projects during the half year given Elizabeth Hill drilling priorities. Corporate & Finance • During the half-year, the Company raised $6.125 million through the issue of 55,681,819 fully paid ordinary shares at an issue price of $0.11 per share. Subsequent to the half-year end, WCE received firm commitments totalling $3.2m via a share placement to new institutional, professional and sophisticated investors. The Placement was priced at $0.19 per share representing an 11.9% discount to the 15-day VWAP. • Cash: $3.45m as of 31 December 2025. As of 7 January 2026, the balance was $6.7m, which includes the $3.2m placement. Management • David Lewis and Ian Stockton appointed to the Technical Advisory Board (28 October 2025). • Matthew Greenfield, a structural geologist, and former Ausgold (ASX:AUC) Managing Director has been appointed as a consultant. • Nathan Ogden, a qualified geologist; was appointed in October 2025. • Simon Tonkin was appointed as Business Development Manager. • Subsequent to the half-year, Sergei Smolonogov was appointed Technical Director – Growth & Development. DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 12 Other Project Updates Andover South Project There has been no exploration undertaken on the Andover South tenement E47/4352 (refer Figure 9). Figure 9. Andover South Project E47/4352 Errabiddy Project The Errabiddy Project is in the Gascoyne Region of Western Australia, approximately 190km northwest of Meekatharra and 360km east of Carnarvon, and within the Shires of Upper Gascoyne and Murchison. The project comprises four tenements namely E09/2457, E09/2459, E09/2652 and E09/2602 (refer Figure 10). The Errabiddy project tenements are considered highly prospective due to their location and the encouraging results achieved by both previous and current explorers. Activities In July 2025, Falcon released its reconnaissance and soil sampling results collecting 272 ultrafine samples. This consisted of infill sampling following up on previous results and extensional sampling that was successful in increasing the strike length of the anomaly, at a >10ppb Au threshold, from 3km to 5.8km. Although these results were generated during the half-year and have assisted in progressing the Olsen Well Prospect, they do not change Falon’s planned work program at the Project. Once the final phase of the rock chip sampling is completed, a heritage survey will be undertaken ahead of the first ever drilling program at Olsen Well. DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 13 Future work • Drilling at Olsen Well following Heritage clearance. • JV partners will be sought for the remaining Errabiddy tenements and the graphite project. Figure 10.. Errabiddy Project Tenements DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 14 Binti Binti/Ginbaldi Project Located in the Eastern Goldfields, Western Australia, within the Kalgoorlie gold province (Yilgarn Craton) Approximately 50 km north-east of Kalgoorlie. Situated in the Menzies–Kalgoorlie region, a well-established mining district with long production history. The Binti Binti area lies ~25 km north-east of the Gindalbie pastoral homestead, east of Lake Emu. Tenements cover ~68 km² of prospective greenstone terrain A new gold anomalous zone with a 2km strike was identified from reconnaissance soil sampling aimed at assessing the lithium prospectivity of the tenement (refer Figure 11). Activities • A reconnaissance soil sampling program on a 100m x 300m grid was completed over the entire tenement in 2024. This survey was aimed initially at assessing the lithium prospectivity of the tenement. • A weak but significant linear gold anomaly with a strike of 2km was interpreted from the soil sample results. This anomaly is located some 1.5km from historical workings and known gold occurrences. The Company is reviewing follow-up work. Figure 11. Binti Binti/Gindalbi Gold Target DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 15 Future Work The Company is reviewing follow up programs. Tenements Details of the tenements are shown in Table 1. Table 1. Tenement Details Project Tenement Errabiddy E09/2652 Elizabeth Hill E47/3322* Binti Binti E27/0577 Elizabeth Hill E47/4422* Elizabeth Hill P47/1832 Elizabeth Hill M47/0342 Elizabeth Hill M47/0123* Elizabeth Hill M47/0124* Elizabeth Hill M47/0125* Elizabeth Hill M47/0126* Errabiddy E09/2602 Errabiddy E09/2457 Elizabeth Hill E47/3535 Andover South E47/4352 Errabiddy E09/2459 *WCE has a JV DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 16 Competent Person Statement The information in this announcement that relates to Exploration Results is based on information reviewed by Mr Max Nind who is a Member of the Australian Institute of Geoscientists. Mr Nind is a consultant to West Coast Silver and a full-time employee of ERM Australia Consultants Pty Ltd. Mr Nind has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and a Specialist under the VALMIN Code 2015 Edition of the ‘Australasian Code for Public Reporting of Technical Assessments and Valuations of Mineral Assets’. Mr Nind consents to the inclusion in the announcement of the matters based on this information and in the form and context in which it appears. Cautionary Statements The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant ASX announcements and that all material assumptions and technical parameters underpinning the announcements continue to apply. Refer to ASX announcements for full details of Exploration Results and JORC Table 1 information. Forward-Looking Statements Statements in this announcement which are not statements of historical facts, including but not limited to those relating to the proposed transaction, are forward-looking statements. These statements instead represent management’s current expectations, estimates and projections regarding future events. Although management believes the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are based on the opinions, assumptions and these type of announcement, estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on such statements. SUBSEQUENT EVENTS On 8 January 2026 the Company issued 16,842,106 fully paid ordinary shares at an issue price of $0.19 per share to raise $3,200,000 before costs. On 16 January 2026 the Company issued 1,010,526 fully paid ordinary shares in lieu of broker fees for the afrementioned placement. On 16 January 2026 the Company issued 51,429 fully paid ordinary shares on the conversion of options with an exercise price of $0.155 per option. On 22 January 2026 the Company issued 2,100,000 fully paid ordinary shares on the conversion of options with an exercise price of $0.155 per option. On 22 January 2026 the Company issued 2,000,000 fully paid ordinary shares on the conversion of options with an exercise price of $0.12 per option. On 23 January 2026 the Company issued 2,000,000 fully paid ordinary shares on the conversion of performance rights issued to a Director following achievement of the relevant vesting milestones. On 23 January 2026 1,000,000 options with an expiry date of 19 November 2028 and with an exercise price of $0.25 per option was cancelled by agreement between the Company and optionholder. On 10 February 2026 the Company issued 1,000,000 fully paid ordinary shares on the conversion of options with an exercise price of $0.12 per option. On 11 February 2026 the Company issued 2,500,000 options with an expiry date of 11 Feburary 2029 and with an exercise price of $0.30 per option. No other matters or circumstances have arisen since 31 December 2025 that may significantly affect, the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years. DIRECTORS’ REPORT WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 17 AUDITOR’S INDEPENDENCE DECLARATION The auditor’s independence declaration is included on page 19 and forms part of the Directors’ report for the six months ended 31 December 2025. Signed in accordance with a resolution of directors. On behalf of the Directors Bruce Garlick Executive Chairman 10th March 2026 DIRECTORS’ DECLARATION WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 18 The Directors declare that in the Directors’ opinion: (a) subject to the achievement of matters noted in note 2(b), there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; and (b) the attached financial statements and notes thereto are in accordance with the Corporations Act 2001, including compliance with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 as disclosed in note 2 and giving a true and fair view of the financial position and performance of the Group for the half-year ended 31 December 2025. Signed in accordance with a resolution of the Directors made pursuant to s.303(5) of the Corporations Act 2001. On behalf of the Directors Bruce Garlick Executive Chairman Perth, Western Australia this 10th day of March 2026 INDEPENDENCE DECLARATION TO THE DIRECTORS OF WEST COAST SILVER LIMITED WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 19 INDEPENDENT REVIEW REPORT TO THE MEMBERS OF WEST COAST SILVER LIMITED WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 20 INDEPENDENT REVIEW REPORT TO THE MEMBERS OF WEST COAST SILVER LIMITED WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 21 CONSOLIDATED STATEMENT PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the half-year ended 31 December 2025 WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 22 Note Half-year ended 31 Dec 2025 $ Half-year ended 31 Dec 2024 $ Continuing operations Other income 57,379 93,722 Share-based payment expense 10 (2,365,330) (84,174) Employee expenses (236,593) (92,515) Consultants expenses (774,508) (228,665) Depreciation expense (31,302) (11,543) Interest expense - (275) Occupancy expenses (3,936) (23,521) Exploration and evaluation expenses (2,835,377) (842,882) Fair value gain / (loss) on other financial assets 42,991 (71,682) Other expenses (491,975) (136,476) (Loss) from continuing operations before income tax benefit (6,638,651) (1,398,011) Income tax benefit – – (Loss) attributable to members of the parent entity (6,638,651) (1,398,011) Other comprehensive income for the period – – Total comprehensive (loss) for the period (6,638,651) (1,398,011) Net (loss) attributable to: Owner of West Coast Silver Limited (6,638,063) (1,341,676) Non-controlling interest (588) (56,335) (6,638,651) (1,398,011) Total comprehensive (loss) attributable: Owner of West Coast Silver Limited (6,638,063) (1,341,676) Non-controlling interest (588) (56,335) (6,638,651) (1,398,011) (Loss) per share attributable to the parent entity: Basic (cents per share) (2.10) (1.40) Diluted earnings per share are not disclosed as the economic entity incurred a loss and the options are not deemed to be dilutive. The accompanying notes form part of the financial statements. CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2025 WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 23 Note 31 Dec 2025 $ 30 Jun 2025 $ Current assets Cash and cash equivalents 3,448,836 1,473,082 Trade and other receivables 3 742,097 209,258 Other financial assets at fair value through profit and loss 4 26,208 186,170 Other assets 25,000 25,000 Total current assets 4,242,141 1,893,510 Non–current assets Property, plant and equipment 61,197 67,560 Right-of-use asset - 19,758 Total non–current assets 61,197 87,318 TOTAL ASSETS 4,303,338 1,980,828 Current liabilities Trade and other payables 5 1,558,558 1,668,570 Provision 13,846 13,846 Lease liability - 20,790 Total current liabilities 1,572,404 1,703,206 Non-current liabilities Trade and other payables 5 21,440 56,979 Total non–current liabilities 21,440 56,979 TOTAL LIABILITIES 1,593,844 1,760,185 NET ASSETS 2,709,494 220,643 Equity Issued capital 6 20,939,545 15,409,317 Reserves 7 5,423,086 2,186,135 Accumulated losses (23,223,840) (16,946,100) Parent interest 3,318,791 649,352 Non-controlling interest (429,297) (428,709) TOTAL EQUITY 2,709,494 220,643 The accompanying notes form part of the financial statements. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the half-year ended 31 December 2025 WEST COAST SILVER LIMITED Financial report for the half-year ended 31 December 2025 | 24 For the half-year ended 31 December 2025 Issued Capital $ Option Reserve $ Performance Rights Reserve $ In-specie Distribution Reserve $ Accumulated Losses $ Non- controlling Interest $ Total Equity $ Balance as at 1 July 2025 15,409,317 1,043,706 413,849 728,580 (16,946,100) (428,709) 220,643 Total comprehensive income Loss for the period – – – – (6,638,063) (588) (6,638,651) Other comprehensive loss for the period – – – – – – – Total comprehensive loss for the period – – – – (6,638,063) (588) (6,638,651) Transactions with owners recorded direct to equity Issue of shares 7,337,329 – – – – – 7,337,329 Is