Santacruz Silver Mining (SCZ) investor relations material

Corporate overview and strategy

• Operates as a multi-asset, multi-metal mining company in Mexico and Bolivia, specializing in underground vein systems and producing silver, zinc, lead, and copper.

• Achieved record production in both countries, with operational excellence and sustainable growth as key focuses.

• Fully repaid Glencore debt and advanced brownfield projects toward full production permitting.

• Largest underground mining company in Bolivia, leveraging established infrastructure and expertise.

Asset portfolio and production

• Portfolio includes four producing mines, one ore feed sourcing company, and one brownfield project targeting full permits by Q3 2026.

• YTD 2026 production: 2.91 Moz silver, 44.88 kt zinc, 5,851 t lead, and 645 t copper; silver accounts for 53.2% of revenues.

• Zimapan (Mexico) and Bolivar, Porco, Caballo Blanco (Bolivia) are key producing assets, with San Lucas supporting ore feed sourcing.

• San Lucas business optimizes plant utilization and provides operational flexibility in Bolivia.

Financial performance and valuation

• YTD 2026 revenue reached $241M, gross profit $94M, adjusted EBITDA $89.2M, and cash on hand $72.8M.

• Realized silver price averaged $76.33/oz, with consolidated AISC at $25.34/oz and mine-level margins up to $59.75/oz.

• EV/Adjusted EBITDA at 3.2x and EV/Revenue at 1.2x, with a 37% adjusted EBITDA margin and $86.1M working capital.

• Revenue and adjusted EBITDA grew 68% and 64% YoY, respectively, through H1 2026.