Endeavour Silver (EXK) investor relations material

Executive summary

• Achieved record production and revenue in Q1 2026, with nearly 2 million ounces of silver and 12,000 ounces of gold produced, totaling 3 million silver equivalent ounces, a 78% increase year-over-year.

• Achieved mid-tier silver producer status with operations in Mexico and Peru, and a robust pipeline of exploration projects in Mexico, Chile, and the US.

• Terronera Mine commenced commercial production in October 2025, with steady ramp-up and no significant downtime.

• Strategic acquisition of Kolpa Mine in Peru completed in May 2025, expanding production profile and geographic footprint.

• Completed Kolpa plant expansion and finalized the sale of Bolañitos mine, realizing a $35.6 million gain.

Financial highlights

• Revenue reached $210 million, up 230% year-over-year; mine operating earnings were $94 million.

• Net earnings were $64.9 million versus a net loss of $32.9 million in Q1 2025.

• Adjusted net earnings were $59 million, with adjusted EPS of $0.21.

• Mine operating cash flow before taxes was $115 million, a 400% increase from Q1 2025.

• EBITDA was $112.6 million, with adjusted EBITDA at $108.4 million.

Outlook and guidance

• Expect further reductions in operating costs as Kolpa and Terronera ramp up and capital expenditures normalize.

• Higher ore grades anticipated at Terronera in the second half of 2026, with significant improvements in cost per ounce expected.

• Feasibility study for Pitarrilla targeted for Q3 2026, with construction potentially starting in 2027 pending permit approvals.

• 2026 consolidated production guidance: 14.6–15.6 Moz AgEq, up ~30% from 2025.

• Strong production and financial performance expected for the remainder of 2026.