Coeur Mining (CDE) investor relations material

Strategic transformation and growth

• Achieved significant transformation, shifting from short mine lives and weak balance sheets to a balanced North American portfolio with strong leadership and operations in the U.S., Canada, and Mexico.

• Completed Rochester mine expansion and acquired SilverCrest (Las Chispas) and New Gold's Canadian mines, enhancing scale, asset quality, and mine life.

• Market cap reached $20 billion, positioning for potential S&P 500 inclusion and sector-leading free cash flow yield.

• Metals mix for 2026 projected at 65% gold, 30% silver, and 5% copper, maintaining a leading position among global silver producers.

• Proven and probable reserves increased by 46% and measured and indicated resources by 68% following recent acquisitions.

Financial performance and policy

• Expectation to generate over $3 billion in EBITDA and $2 billion in free cash flow in 2026, with lower costs and higher margins.

• Adjusted EBITDA margin reached 63% in 2025, with free cash flow of $666 million for the year.

• Net leverage ratio improved to (0.2x) by year-end 2025, with cash balance more than doubling to $554 million.

• Announced initial semi-annual dividend of $0.02 and a $750 million buyback, reflecting a shift to shareholder returns.

• Upgraded revolving credit facility from $400 million to $1 billion, maintaining favorable terms and enhancing liquidity.

Capital allocation

• Updated financial policy prioritizes disciplined capital allocation, investment in exploration, sustaining and growth capital, and return on invested capital.

• Targeting liquidity at 15%-25% of market cap, building cash reserves for flexibility during market downturns.

• Sustaining capital expenditures for 2026 are projected at $291M–$337M, with development capital at $146M–$189M.

• Consolidated bond structure through obligor exchange, improving capital return flexibility and reducing costs.

• Initiated a $750 million share repurchase program and a semiannual cash dividend policy of $0.02 per share.