Hecla Mining Company (HL) Corporate presentation summary

Strategic positioning and market leadership

• Largest silver producer in the U.S. and Canada, with 37% of 2024 U.S. silver production and all operations in top-tier jurisdictions.

• Peer-leading silver exposure, with 48% of Q3 2025 revenue from silver and 75% of reserves based in silver.

• Average reserve mine life of 14 years, double the industry peer average, supporting long-term production stability.

• Trades at a 16% premium to peer group NAV, below the 10-year historical average, indicating potential for re-rating.

• Maintains the lowest cost profile among peers, with 2024 AISC at $11.01/oz for silver and strong free cash flow generation.

Operational and financial performance

• Q3 2025 silver production reached 4.59 Moz, with gold at 40,654 oz, and consolidated free cash flow of $90.1M.

• Net leverage ratio improved to 0.3x, with $393.4M in Q3 2025 revenue and 74% silver margin.

• Greens Creek and Lucky Friday are cornerstone mines, with Greens Creek in the lowest 15th percentile of cost curve and Lucky Friday positioned for its best decade.

• Keno Hill is the largest silver producer in Canada, with a 16-year reserve mine plan and positive free cash flow at 440 tpd.

• Casa Berardi continues to generate strong cash flow, with 2025 gold production guidance of 92-95 Koz and ongoing strategic review.

Growth, exploration, and resource expansion

• $28M exploration budget for 2025, focused on Greens Creek, Keno Hill, and Nevada, with significant new discoveries at Midas and Bermingham.

• Nevada operations offer district-scale potential, with 313M SEO inferred resources and low-capital intensity for production readiness.

• Greens Creek extended Gallagher mineralization 550 feet, supporting resource growth and future drilling programs.

• Keno Hill identified a new high-grade Bermingham ore shoot, targeting an additional 50 Moz silver resource potential.

• Montana projects hold 330 Moz silver and 2.8B lbs copper in inferred resources, with recent permitting advances.