Coeur Mining (CDE) Investor update summary

Strategic transformation, acquisitions, and transaction impact

• Closed the New Gold acquisition, expanding to a seven-asset North American platform with a ~$20B market cap and sector-leading free cash flow yield.

• Recent investments and the SilverCrest acquisition have positioned the company as a leading North American precious metals producer.

• Now listed on both the NYSE and TSX, enhancing trading liquidity and investor access.

• Transaction delivers double-digit cost reductions, accretive to NAV, OCF, and FCF per share, and enhances financial flexibility.

• Executive team and board comprise experienced leaders from major mining and energy companies, ensuring strong governance.

Updated 2026 production, financial, and cost guidance

• 2026 guidance: 680,000–815,000 oz gold, 18.7–21.9M oz silver, 50–65M lbs copper, with 80% gold production growth driven by new Canadian assets and nine months of new mine contributions.

• Revenue mix for 2024 expected to be 65% gold, 30% silver, and 5% copper, with 70% from US/Canada and 30% from Mexico.

• EBITDA and free cash flow for 2026 expected to exceed $3B and $2B, respectively, even with only nine months of contributions from new assets.

• Cost applicable to sales (CAS) per gold ounce: $750–$2,350; silver: $12.50–$25.00/oz; copper: $1.20–$1.35/lb.

• Sustaining capital expenditures: $291–$337M; development capex: $146–$189M; effective tax rate: 30%–36%.

Asset updates, reserves, and resource expansion

• Addition of New Afton and Rainy River increases proven and probable reserves by 46% and measured/indicated resources by 68% on a gold equivalent basis.

• Rainy River mine life extended to 2035; New Afton mine life extended to 2032, with strong B-Zone and C-Zone performance and ramp-up.

• Initial K-Zone resource at New Afton: 48M tonnes M&I plus 6M tonnes inferred, supporting future mine life extension; feasibility study to start in H2 2026.

• Rainy River’s annual production to average 287,000 oz gold and 527,000 oz silver over the next three years.

• $18M allocated for New Afton drilling in 2024 and $24M planned for K-Zone exploration in 2026.