Santacruz Silver Mining (SCZ) Corporate presentation summary

Corporate overview and strategy

• Operates as a multi-asset, multi-metal mining company in Mexico and Bolivia, with expertise in complex underground vein systems and a focus on silver, zinc, lead, and copper production.

• Achieved record production in Bolivia and Mexico, fully paid off Glencore debt, and is advancing a brownfield project toward full production permitting.

• Holds four producing mines, one ore feed sourcing company, and one exploration/development asset, with a scalable platform across both countries.

• Strategic synergies between Mexico and Bolivia create a globally competitive silver-zinc platform with significant exploration upside and resource expansion potential.

Production and operational performance

• YTD 2026 silver production reached 2.91 million ounces and zinc production 44,880 tonnes, with silver accounting for 56.4% of revenues.

• Bolivar Mine saw a 32% quarter-over-quarter increase in silver production, with full production recovery expected in Q4 2026 after a water inflow event.

• Porco, Caballo Blanco, and Zimapan mines maintained consistent output, with San Lucas supporting high plant utilization through third-party ore sourcing.

• Soracaya asset in Bolivia is advancing through permitting, with initial production targeted for Q4 2026 and a significant inferred resource base.

Financial highlights and valuation

• Q1 2026 revenue was $127.5 million, net income $28.5 million, and adjusted EBITDA $42.6 million, with $64.9 million in cash and marketable securities.

• Realized silver margin increased 221% year-over-year, with an average realized silver price of $63.30/oz and consolidated AISC of $31.60/oz.

• Maintains a robust balance sheet: $447M in assets, $209M in equity, $75.9M working capital, and a current ratio of 1.5x.

• Market capitalization stands at $599M, with 92.7M shares outstanding and a diversified ownership structure (60% retail, 22% institutional, 16% insiders).