Americas Gold and Silver (USA) investor relations material

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 $300M through equity and debt financings, fully funding growth projects in Idaho and Mexico, and significantly strengthening the balance sheet.

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

• Implemented major infrastructure upgrades, including doubling hoisting capacity and deploying new mining equipment, resulting in a 300% increase in mining productivity since 2024.

• Transitioned to mechanized mining and long hole stoping, improving productivity and reducing costs at the Galena Complex.

Resource growth and exploration

• Consolidated measured and indicated silver resources to 116 Moz (+10%) at 240 g/t Ag, with Galena Complex M&I resources at 87.9 Moz (+19%) at 501 g/t Ag.

• Inferred silver resources increased to 133 Moz (+15%) at 264 g/t Ag, with substantial conversion potential.

• Largest-ever exploration program underway, with 64,000 meters of drilling planned across Idaho and Mexico in 2026.

• Multiple high-grade discoveries at Galena, including the 034, 149, 520, and 43L-TJ vein complexes, with intercepts up to 24,913 g/t Ag and 16.9% Cu.

• Crescent Mine acquisition adds significant infrastructure and exploration upside, with potential to contribute ~1.5 Moz Ag/year.

Production and cost guidance

• 2026 silver production guidance of 3.2–3.6 Moz, representing a ~30% increase over 2025.

• All-in sustaining cost (AISC) projected at $30–$35/oz, with total capital investments of $90–$120M planned for 2026.

• Major capital projects include shaft upgrades, mill expansions, and construction of a new paste fill plant to support long hole stoping.

• Cosalá Operations in Mexico achieved record 2025 production of 1.2 Moz Ag and entered commercial production at EC120.