IMPACT Silver (IPT) investor relations material

Executive summary

• Achieved the most successful quarter in 20 years, with revenue reaching $31.2 million, nearly tripling year-over-year, driven by higher silver prices, grades, and mill throughput at Zacualpan.

• Net income reached a record $11.3 million, or $0.03 per share, reversing a loss of $0.1 million in Q1 2025.

• Gross profit surged to $20.3 million from $2.2 million year-over-year, reflecting operational improvements and favorable market conditions.

• Strong cash position at quarter-end: $45.3 million in cash, $4.0 million in GICs, and no long-term debt.

Financial highlights

• Revenue increased to $31.2 million from $10.7 million in Q1 2025.

• Gross profit was $20.3 million, up from $2.2 million year-over-year.

• Net income of $11.3 million, or $0.03 per share, compared to a net loss of $0.1 million in Q1 2025.

• Working capital stood at $48.0 million.

• No outstanding long-term debt.

Outlook and guidance

• Expect continued positive quarters, though results will vary due to epithermal vein variability and development cycles.

• Silver price and ore grade will be key variables; margins expected to remain strong if current silver prices persist.

• Anticipates a busy and profitable year unless silver prices change dramatically.

• Capire restart not expected before 2027 due to technical and equipment lead times.

• Plans to focus Zacualpan production on higher-grade silver veins and expand drilling at key mines.