Silvercorp Metals (SVM) Investor presentation summary

Operational performance and growth

• Over 100 million ounces of silver and 1.5 billion pounds of lead and zinc produced since 2006, generating more than $600M in profits and returning over $200M to shareholders.

• Current operations in China include the Ying and GC mines, both with over 15-year mine lives, and the BYP gold mine under permit.

• El Domo copper-gold mine in Ecuador is under construction, with commissioning targeted for late 2026 and a 10-year mine life.

• Kuanping silver mine in China and Condor gold deposit in Ecuador are advancing, with the latter under PEA study.

• Extensive exploration and mine optimization in the Ying District, with over 2.6 million meters drilled and $25M allocated for ramp access in FY2026.

Financial performance and outlook

• FY2026E revenue projected at $354M, rising to $425M in FY2027E, driven by El Domo's copper and gold production.

• Maintained stable AISC per tonne over the last decade, generating profit on every tonne mined.

• EBITDA margin at 53% and return on equity at 11.3%, both outperforming industry averages.

• Free cash flow and adjusted net income have shown consistent growth, with positive trends expected to continue.

• Company trades at lower EV/EBITDA and P/OCF multiples compared to peers, indicating undervaluation.

Strategic initiatives and expansion

• Growth strategy includes organic expansion in China and Ecuador, disciplined acquisitions, and incubating early-stage opportunities.

• Adventus transaction completed in July 2024, securing El Domo and Condor projects in Ecuador.

• 28% interest in New Pacific Metals provides indirect exposure to large silver projects in Bolivia.

• Key catalysts include advancing El Domo construction, updating Condor PEA, increasing Ying District production, and permitting progress at BYP and Bolivian projects.