Unaudited interim results for the three-and six-month periods ended 30 June 2025

Core Viewpoint - Serabi, a Brazilian gold mining and development company, reported strong financial performance for the first half of 2025, with significant increases in gold production, revenue, and profit compared to the same period in 2024 [4][7]. Financial Performance - Gold production for the first half of 2025 totaled 20,545 ounces, a 14% increase from 18,010 ounces in the same period of 2024 [4][8]. - Revenue for the six months ended 30 June 2025 was $62.5 million, up from $42.7 million in the same period of 2024 [11]. - EBITDA for the first half of 2025 reached $26.3 million, more than double the $13.0 million reported in the first half of 2024 [4][8]. - Post-tax profit for the period was $18.9 million, compared to $9.2 million in 2024, translating to earnings of 24.99 cents per share, up from 12.18 cents [7][8]. Cash and Costs - The company ended the period with a cash balance of $30.4 million, significantly up from $22.2 million at the end of 2024 [5][8]. - All-In Sustaining Costs (AISC) for the period were $1,792 per ounce, reflecting inflationary pressures and increased development activity, compared to $1,782 per ounce in the same period of 2024 [6][12]. Operational Developments - The company is conducting a 30,000-meter drill program across the Palito Complex and Coringa, aiming for future resource growth and long-term value creation [5]. - The ore sorter at Coringa has been operational for six months, processing low-grade ore and is expected to exceed original production plans for the year [10]. Debt and Financing - The company completed a $5.0 million unsecured loan arrangement with Santander in January 2025, carrying a fixed interest coupon of 6.16%, repayable in January 2026 [9][37].