Endeavour Silver (EXK) investor relations material

Strategic positioning and growth outlook

• Operates three producing mines: Guanaceví and Terronera in Mexico, and Kolpa in Peru, with a robust pipeline of exploration projects in Mexico, Peru, Chile, and the US.

• Achieved commercial production at Terronera in October 2025, supporting significant organic growth and sector-leading silver leverage.

• Kolpa acquisition in Peru adds 5.0 Moz AgEq to annual production, expanding geographic footprint and production scale.

• Pitarrilla project in Mexico is one of the world’s largest undeveloped silver deposits, enhancing future growth potential.

• Focused on maintaining steady output, advancing operational alignment, and leveraging technical strengths for further expansion.

Production and cost guidance

• 2026 consolidated production guidance: 14.6–15.6 Moz AgEq, up ~30% from 2025, with lower cash costs.

• 2026 cash costs projected at $12–$13/oz AgEq and AISC at $27–$28/oz AgEq, reflecting operational efficiencies.

• Guanaceví: 3.6–3.8 Moz Ag, Kolpa: 2.3–2.5 Moz Ag, Terronera: 2.4–2.6 Moz Ag expected in 2026.

• Capital spending for 2026 totals $91M, supporting mine development and expansion.

• Terronera and Kolpa ramp-ups are key drivers for increased production and cost optimization.

Asset performance and operational highlights

• Terronera processed 175,729 tonnes in Q2 2026, producing 1.3 Moz AgEq at $5.07/oz cash cost and $26.42/oz AISC.

• Kolpa processed 233,408 tonnes in Q2 2026, producing 1.18 Moz AgEq at $22.23/oz cash cost and $29.40/oz AISC.

• Guanaceví maintained steady production with 955,070 AgEq oz in Q2 2026, supported by high-grade drill results.

• Kolpa’s plant expansion to 2,500 tpd largely commissioned, with ongoing exploration and resource growth.

• Pitarrilla advancing toward feasibility study in Q3 2026, with $15M budgeted for study and $2.8M for exploration.