Hecla Mining Company (HL) investor relations material

Strategic positioning and market leadership

• Largest silver producer in the U.S. and Canada, with 39% of 2025 U.S. silver production and a peer-leading reserve mine life nearly double the industry average.

• Operations are exclusively in low-risk jurisdictions (U.S. and Canada), with a focus on high-grade, long-life assets.

• Silver exposure is among the highest in the industry, with 68% of Q2 2026 revenue from silver and a reserve/resource base heavily weighted to silver.

• Maintains a low-cost profile, with 2025 AISC at $11.28/oz, positioning at the lower end of the industry cost curve.

• Robust organic project pipeline and disciplined capital allocation drive value creation and growth.

Financial performance and outlook

• Q2 2026 revenues reached $318M, with 68% from silver; consolidated free cash flow was $136M and adjusted EBITDA $265M.

• Ended Q2 2026 with $483.5M in cash, no long-term debt, and a fully undrawn $225M credit facility.

• Projected 2026 free cash flow ranges from $542M to $759M, resilient across a wide range of silver prices.

• 2026 silver production guidance is 15.1–16.1 Moz, with strong margins maintained and AISC guidance of $4.00–$4.25/oz at Greens Creek.

• Ongoing annual exploration spend of $55M, targeting resource growth and new discoveries.

Operational highlights and growth projects

• Greens Creek, Lucky Friday, and Keno Hill are cornerstone mines, each with over a decade of reserve life and significant free cash flow generation.

• Greens Creek advancing pyrite concentrate circuit and dry stack tailings reprocessing, targeting additional silver/gold output and reduced reclamation liability.

• Midas restart leverages existing infrastructure for medium-term production growth; aggressive exploration underway in Nevada.

• Keno Hill ramping up to 440 tpd, with ongoing permitting and infrastructure upgrades.

• Innovative mining methods and safety initiatives have improved productivity and reduced injury rates by 72% since 2012.