Americas Gold and Silver (USA) Corporate presentation summary

Strategic growth and operational highlights

• Achieved district-scale consolidation in Idaho's Silver Valley, acquiring 100% of the Galena Complex and the nearby Crescent Silver Mine to drive production growth and operational synergies.

• Raised over US$300M through equity and debt financings, fully funding growth projects in Idaho and Mexico, and reduced variable liabilities by US$85M, strengthening the balance sheet.

• Leadership team with a proven track record in operational turnarounds and value creation, previously delivering significant shareholder returns at Karora Resources and Klondex Mines.

• Major upgrades at Galena Complex, including doubling hoisting capacity, expanding the mining fleet, and implementing mechanized mining, resulting in a 300% increase in productivity since 2024.

• Integration of Crescent Mine expected to add ~1.5 Moz Ag/year, leveraging existing infrastructure and processing capacity, with significant exploration and development underway.

Resource growth and exploration success

• Consolidated measured and indicated silver resources increased to 116 Moz (+10%) at 240 g/t Ag, with Galena Complex contributing 87.9 Moz (+19%) at 501 g/t Ag, among the highest grades globally.

• Inferred silver resources rose to 133 Moz (+15%) at 264 g/t Ag, highlighting substantial conversion and exploration upside.

• Largest-ever exploration program launched in 2026, with 64,000 meters of drilling targeting high-grade Ag-Cu-Sb zones at Galena and Crescent, resulting in multiple new high-grade vein discoveries.

• Key discoveries include the 034, 149, 520, and 43L-TJ vein complexes, with intercepts such as 24,913 g/t Ag & 16.9% Cu over 0.21m and 4,458 g/t Ag, 3.34% Cu & 1.5% Sb over 0.5m.

• Coeur Mine infill drilling targeting high grades below the 3400 Level, with intercepts up to 4,131 g/t Ag & 5.0% Cu.

Financial performance and guidance

• 2026 production guidance targets a 30% increase to 3.2–3.6 Moz Ag at an all-in sustaining cost (AISC) of US$30–35/oz, with capital investments of US$90–120M.

• Achieved record Q1 2026 silver production of 787k oz and sales of 830k oz.

• Eliminated over US$85M in future variable metal price-linked obligations and US$28M in annual debt service, improving earnings visibility and leverage to silver prices.

• JV with U.S. Antimony positions the company as the largest U.S. producer of antimony, unlocking downstream value and critical mineral security.

• Attractive valuation at 0.60x NAV compared to peer average of 1.06x, with ~80% of revenue derived from silver.