Coeur Mining (CDE) Canaccord Global Metals and Mining Conference presentation summary

Strategic growth and portfolio transformation

• Completed Rochester mine expansion, acquired SilverCrest (Las Chispas), and added New Gold's Canadian mines, creating a balanced North American portfolio with seven operations and a $20B market cap.

• Revenue mix for 2026E is projected at 65% gold, 30% silver, and 5% copper, with 70%+ of revenue from the U.S. and Canada.

• Proven and probable gold equivalent reserves increased by 46% and measured/indicated resources by 68% after acquisitions.

• Integration of New Gold expected to drive significant EBITDA and free cash flow growth, with over $3B EBITDA and $2B FCF projected for 2026.

• Enhanced exploration investment in 2026 targets resource expansion and reserve replacement across multiple sites.

Financial performance and capital allocation

• Adjusted EBITDA and free cash flow have seen a step change, with 2026E guidance of >$3B EBITDA and >$2B FCF.

• Cost control initiatives have mitigated inflationary pressures, supporting margin expansion.

• Net leverage ratio improved from 4.1x in 2Q 2023 to (0.1x) in 1Q 2026, with a cash balance of $843M.

• Announced a $750M share repurchase program and first semi-annual dividend; S&P and Moody’s upgraded credit ratings post-acquisition.

• Updated financial policy emphasizes disciplined capital allocation, maintaining a net cash position, and returning excess capital to shareholders.

Operational highlights and guidance

• 2026 consolidated production guidance: 680,000–815,000 oz gold, 18.7–21.9M oz silver, 50–65M lbs copper.

• Major capital investments in 2026 focus on ramping up New Afton C-Zone, Rainy River underground transition, and sustaining/development projects at all sites.

• New Afton and Rainy River technical updates highlight strong production, extended mine life, and significant exploration upside.

• Exploration at Palmarejo, Las Chispas, and Silvertip aims to expand resources and reserves, with aggressive district-scale programs at Rainy River.

• Wharf mine extended its life to ~12 years, achieving record free cash flow and significant reserve additions.