Coeur Mining (CDE) Corporate presentation summary

Strategic growth and portfolio transformation

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

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

• Integration of New Afton and Rainy River mines expected to drive significant EBITDA and free cash flow growth, with 2026 guidance targeting over $3 billion EBITDA and $2 billion free cash flow.

• Expanded reserve and resource base, with gold equivalent proven and probable reserves up 46% and measured and indicated resources up 68% following acquisitions.

Financial performance and capital allocation

• Adjusted EBITDA and free cash flow have seen a step change, with 2026E guidance of >$3 billion EBITDA and >$2 billion free cash flow, supported by higher metals prices and portfolio optimization.

• Cost control initiatives have mitigated inflationary pressures, with reductions in diesel, maintenance, and labor costs per unit.

• Net leverage ratio improved from 4.1x in mid-2023 to (0.1x) by Q1 2026, with a cash balance of $843M and expanded $750M share repurchase program.

• Initiated first semi-annual dividend and upgraded credit ratings post-acquisition.

• Updated financial policy emphasizes disciplined capital allocation, maintaining a strong balance sheet, 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, and 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 across all sites.

• Exploration investment for 2026 is $147M–$169M, targeting resource expansion at Palmarejo, Las Chispas, Silvertip, and reserve replacement at Kensington and Wharf.

• Technical updates: New Afton and Rainy River both report strong reserve/resource growth and extended mine lives, with significant exploration upside.