Coeur Mining (CDE) 34th Annual BMO Global Metals, Mining & Critical Minerals Conference summary

Strategic milestones and outlook

• Acquisition of SilverCrest Metals and Las Chispas mine completed, expected to boost 2025 silver and gold production by 62% and 20% year-over-year, respectively, enhancing asset quality and portfolio diversity.

• 2025 projected as a record year for production growth, free cash flow, and debt reduction, with combined EBITDA of $700 million and free cash flow of ~$350 million.

• Silver production expected to rise from 11 million to 16.7–20.3 million ounces; gold output guidance is 380,000–440,000 ounces.

• Rochester expansion completed, with production up 75%, costs down 25-30%, and 16-year mine life.

• Net debt to EBITDA leverage ratio targeted to approach zero by year-end 2025, with improvement to 1.6x by end of 1Q 2025.

Operational performance and optimization

• Rochester throughput to reach 30 million tons annually, with $100 million free cash flow expected at current prices.

• Ongoing optimization at Rochester includes achieving target crush size and cost reductions, driving strong cash flow.

• Las Chispas integration focuses on maintaining operational consistency and aggressive in-mine exploration.

• No major operational changes planned at Las Chispas in the near term.

• Significant investments in exploration at Palmarejo, Las Chispas, Silvertip, Kensington, and Wharf to expand resources and reserves.

Exploration, reserves, and resource development

• Over $285 million invested in exploration over five years, with 85% focused on existing mines, resulting in significant reserve and resource growth.

• Gold equivalent ounces increased by 10 million over five years, now totaling 22 million.

• Palmarejo exploration shifts focus eastward, targeting non-streamed ground for higher returns, with 60% of 2025 budget outside the main area.

• Kensington mine life extended to five years, now positioned as a cash flow contributor.

• Silvertip: $13 million exploration investment planned for 2025, with step-out drilling doubling strike length and initial assessment expected by year-end.