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 output and all operations in low-risk jurisdictions.

• Peer-leading silver exposure, with 59% of Q4 2025 revenue from silver and nearly 73% excluding Casa Berardi.

• Average reserve mine life of 13.3 years, nearly double the industry peer average.

• Maintains lowest cost position among peers, with 2025 AISC at $11.28/oz.

• Robust project pipeline and ongoing investment in exploration and growth.

Financial performance and outlook

• 2025 silver production reached 17 Moz, with gold at 151 Koz, both at or above guidance.

• 2025 free cash flow was $310M, with a gross leverage ratio reduced to 0.4x.

• Projected 2026 consolidated free cash flow of ~$850M at $100/oz silver and $5,500/oz gold.

• 2026 silver production guidance is 15.1–16.5 Moz, with strong margins maintained.

• Exploration spend for 2026 set at $55M, about 4.5% of projected revenue.

Operational highlights and asset performance

• Greens Creek produced 8.7 Moz silver in 2025, with AISC in the best 15th percentile globally.

• Lucky Friday achieved record 5.3 Moz silver production in 2025, with a 15-year reserve mine plan.

• Keno Hill produced 3.0 Moz silver in 2025, with a pathway to profitability at 440 tpd and significant exploration upside.

• Midas and Nevada assets offer medium-term growth and hub-and-spoke operational potential.

• Major projects include tailings reprocessing, surface cooling, and tailings expansion to extend mine life.