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, Chile, and the US.

• Commercial production at Terronera began October 1, 2025, supporting a leading organic growth profile in the silver sector.

• Kolpa acquisition in Peru adds significant production and regional diversification, with expansion plans to increase plant capacity.

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

• Maintains a silver-dominant production profile, offering high leverage to silver prices.

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 expected at $12–$13/oz AgEq and AISC at $27–$28/oz AgEq.

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

• Kolpa’s 2024 production: 2.0 Moz Ag, 19.8 kt Pb, 12.6 kt Zn, 518 t Cu; cash costs $12.58/oz, AISC $22.80/oz.

• Terronera’s Q1 2026 production in line with plan; ramp-up to higher grades expected in H2 2026.

Asset highlights and operational performance

• Terronera: 10+ year mine life, 2,000 tpd capacity, 60% Ag/40% Au reserve mix, strong ramp-up and exploration upside.

• Kolpa: 1,800 tpd plant, expanding to 2,500 tpd, produced 31.6 Moz AgEq since 2016, strong synergies with existing operations.

• Guanaceví: 80% Ag/20% Au, 61.4 Moz Ag produced since 2005, steady production with high-grade drill results.

• Pitarrilla: 600 Moz Ag defined, advanced infrastructure, feasibility study expected mid-2026.

• Exploration at all core assets supports resource growth and mine life extension.