Highlander Silver Corp.

Performance Graph

The following graph compares the annual percentage change in the Company’s cumulative total Shareholder return based on the assumption that C$100 was invested in the Company’s common shares on January 1, 2021, against the cumulative total Shareholder return of the S&P/TSX Composite Index and the TSX Global Mining Index for the five most recently completed years ended December 31, 2025. The Common Shares of the Company were previously listed for trading on the Canadian Securities Exchange and commenced trading on the Toronto Stock Exchange on May 13, 2025.

As discussed in the Compensation Discussion and Analysis, compensation for the Company’s NEOs is comprised of various elements including a base salary and bonus that may not necessarily correlate directly to the market price of the Company’s shares. In addition, the market price of a publicly traded stock, especially a junior resource issuer as is the case for the Company, may be affected by many variables that may not be directly related to NEO performance including the market for junior resource stocks, the strength of the economy generally, commodity prices, the availability and attractiveness of alternative investments, and the breadth of the public market for the stock.

The trend in overall compensation paid to the Company’s executives over the period has not specifically tracked the performance of the market price of the Company’s common shares, or the S&P/TSX Composite Index.

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