Avino Silver & Gold Mines (ASM) investor relations material

Strategic growth and project portfolio

• Transitioning from a single-operation to a multi-asset mid-tier producer in Mexico, with a focus on silver and gold production and exploration in Durango.

• Key assets include the Avino Mine (production), La Preciosa (development), and the Oxide Tailings Project (development), with a combined proven and probable reserve base of 127 million AgEq oz and measured and indicated resources of 301 million AgEq oz as of October 31, 2025.

• La Preciosa acquisition and integration have shifted the resource base to be primarily silver, supporting the company's growth strategy.

• Production guidance for 2026 is 2.4–2.7 million AgEq oz, with a medium-term outlook targeting 8–10 million AgEq oz annually by 2029.

• Ongoing exploration and resource expansion at both Avino and La Preciosa, with 15,000 metres of drilling budgeted for each in 2026.

Financial performance and capital structure

• Record Q1 2026 revenues of $39.4 million, up 109% year-over-year, with 60% of revenues from silver production.

• Net income for Q1 2026 reached $15.9 million, a 183% increase from Q1 2025, and adjusted earnings were $24.3 million.

• Operating cash flow before non-cash working capital was $18.7 million, and free cash flow excluding La Preciosa development was $17.2 million.

• Strong balance sheet with $139 million in cash and $140 million in working capital as of March 31, 2026; company is debt-free except for equipment leases.

• Market capitalization of approximately CAD $1.4B (USD $1B) with 170 million shares outstanding as of July 2026.

Operational highlights and cost metrics

• Avino Mine produced 510,915 AgEq oz, 1,766 Au oz, and 1.3M lbs Cu in Q1 2026.

• Cash cost per AgEq oz in Q1 2026 was $24.46, with AISC per AgEq oz at $34.72; cash cost per tonne processed was $64.04.

• La Preciosa processed 14,098 tonnes in Q1 2026, with ongoing ramp advancement and underground development.

• Both Avino and La Preciosa are targeting increased production and updated resource estimates in 2026.

• Average reserve mine life is approximately 13 years, exceeding the industry peer average of 8 years.