Avino Silver & Gold Mines (ASM) investor relations material

Strategic growth and project portfolio

• Transitioning from a single operation to a multi-asset mid-tier producer in Mexico, targeting significant production growth by 2029 with the addition of La Preciosa and the Oxide Tailings Project.

• Avino Mine operates at 2,500 tpd with four circuits, while La Preciosa aims for 500 tpd and is located near the Avino mill.

• Proven and probable mineral reserves total 6.7 million tonnes at 55 g/t silver and 0.47 g/t gold.

• Large resource base: 277 million AgEq oz measured & indicated, 94 million AgEq oz inferred (NI 43-101, Oct 2023).

• La Preciosa acquisition increased silver weighting to 60% of resources.

Financial and operating performance

• Record annual revenue of $92.2M in 2025, up 39% year-over-year; Q4 revenue $30.5M.

• Gross profit margin at 58% for 2025, with net income of $26.6M and adjusted earnings of $46.5M.

• Operating cash flow before non-cash changes reached $35.3M for 2025, with free cash flow (excluding La Preciosa) at $24.3M.

• Cash cost per AgEq oz was $16.13 and AISC per AgEq oz was $23.75 for FY 2025.

• Ended 2025 with $102M in cash and $99M in working capital, debt-free except for equipment leases.

Production and resource expansion

• Five-year growth plan targets 8–10 million AgEq oz annual production by 2029.

• Silver will represent an increasing share of production, returning to primary silver status by 2029.

• 2026 goals include 15,000 meters of exploration drilling at both Avino and La Preciosa, with updated resource estimates in H1 2026.

• Recent drilling at La Preciosa shows higher-than-average grades, supporting underground mining potential.

• Optimization and cost reduction opportunities identified at La Preciosa, with independent engineers engaged for strategic planning.