Aya Gold & Silver (AYA) Investor presentation summary

Strategic positioning and jurisdiction

• Holds a first-mover advantage in Morocco, a top mining jurisdiction with efficient permitting, skilled workforce, and established infrastructure.

• Morocco ranks #15 globally and #2 in Africa for mining investment attractiveness, with a mining-friendly code and no state free-carried interest.

Asset portfolio and growth

• Operates the Zgounder Silver Mine, producing 4.8Moz Ag in 2025, and advancing the Boumadine polymetallic project with 37Moz AgEq production expected in years 1–5.

• Zgounder has 73Moz P&P reserves and 100Moz M&I resources; Boumadine holds 74Moz M&I and 378Moz inferred AgEq resources.

• Multiple exploration pathways, including regional drilling and permit acquisitions, target further resource growth.

Financial performance and capital structure

• Achieved record Q1-2026 revenues ($117M), net income ($49M), and operating cash flow ($70M), driven by Zgounder ramp-up and high silver prices.

• Maintains a strong balance sheet with $172M cash and $98M debt as of March 2026; market cap at $4.2B.

• Board and management own 8% of shares; institutional holders are primarily US-based.