Aya Gold & Silver (AYA) Investor presentation summary

Strategic positioning and leadership

• Operates as a pure-play silver producer with a first-mover advantage in Morocco, leveraging a mining-friendly jurisdiction and established infrastructure.

• Board and management bring decades of mining, finance, and legal expertise, with a strong track record in project development and operational turnaround.

• High governance standards and sustainability leadership, including significant ESG transparency, low-carbon initiatives, and a focus on local workforce development.

Asset portfolio and growth

• Zgounder Silver Mine achieved record production in 2025, with 4.8Moz Ag produced and a robust reserve/resource base (73Moz P&P reserves, 100Moz M&I resources).

• Boumadine Polymetallic Project offers district-scale potential, with a PEA outlining 37Moz AgEq production (Y1–Y5), low initial capex ($446M), and strong economics (post-tax NPV5% $1.5B, IRR 47%).

• Exploration pipeline strengthened by new permit acquisitions and aggressive drilling programs targeting both near-mine and regional growth.

Financial performance and capital structure

• FY2025 revenues reached $202M (up 5x YoY), with net income of $39M and $136M in year-end cash.

• Maintains a robust balance sheet: $3.2B market cap, $112M debt, and strong institutional/family office ownership.

• Industry-low discovery costs ($0.10/oz AgEq) and high AgEq per share growth since 2020.