Coeur Mining (CDE) investor relations material

Executive summary

• Achieved record Q2 2026 results with revenue of $1.1 billion, up 27% sequentially and 126% year-over-year, driven by the first full quarter of contributions from New Afton and Rainy River acquisitions.

• Net income was $122 million ($0.12/share), adjusted EBITDA reached $478 million, and free cash flow was $388 million, all record highs.

• Cash balance at quarter-end was $1.1 billion, nearly ten times higher than the prior-year quarter-end, with liquidity exceeding $2 billion.

• Initiated a $750 million share repurchase program, repurchased $121 million in stock, and paid an inaugural $0.02 per share dividend.

• Integration of new Canadian assets progressing on schedule, with operational ramp-ups underway.

Financial highlights

• Quarterly revenue reached $1,085.6 million, up 27% quarter-over-quarter and 126% year-over-year.

• Adjusted EBITDA was $478 million, despite a $141 million non-cash expense from Rainy River's inventory accounting.

• Free cash flow hit $388 million, a 45% increase from the previous quarter and 165% year-over-year.

• Net income for Q2 was $122 million, up 72% year-over-year; operating cash flow rose to $513 million.

• Adjusted CAS per gold ounce was $2,442 and per silver ounce $22.99, both up from the prior quarter due to non-cash inventory impacts.

Outlook and guidance

• Full-year 2026 production guidance: ~690,000 oz gold, 20 million oz silver, 45 million lbs copper.

• 2026 adjusted EBITDA forecasted at $2.3 billion and free cash flow at $1.5 billion, based on updated metals price assumptions.

• Capital expenditure guidance raised to $520–$605 million, mainly due to Rainy River development and reclassification of stripping costs.

• Cash income and mining tax guidance lowered to $350–$450 million due to lower assumed metals prices.

• Amortization guidance reduced to $1.1–$1.2 billion.