Coeur Mining (CDE) Investor update summary

Strategic transformation, acquisitions, and transaction impact

• Closed the New Gold acquisition, expanding to a seven-asset North American platform and forming a mining leader with ~$20B market cap and sector-leading free cash flow yield.

• Recent investments and the SilverCrest acquisition have positioned the company as a leading North American precious metals producer with a dominant silver sector presence.

• Transaction delivers double-digit cost reductions, accretive to NAV, OCF, and FCF per share, and enhances financial flexibility.

• Enhanced free cash flow profile supports an expanded $750M share repurchase program and a new $0.02/share semiannual dividend policy.

• The expanded asset base is expected to drive significant growth in gold and copper production, with gold output projected to rise 80% by 2026.

Updated 2026 guidance, production outlook, and cost structure

• 2026 consolidated production guidance: 680,000–815,000 oz gold, 18.7–21.9M oz silver, 50–65M lbs copper, reflecting nine months of New Afton and Rainy River contributions.

• Metals mix for 2026: ~65% gold, 30% silver, 5% copper; 70% of revenue from US and Canada, 30% from Mexico.

• Cost applicable to sales (CAS) per gold ounce: $750–$2,350; silver: $12.50–$25.00/oz; copper: $1.20–$1.35/lb.

• Sustaining capital expenditures: $291–$337M; development capex: $146–$189M; effective tax rate: 30%–36%.

• Rainy River and New Afton are expected to be the largest free cash flow contributors.

Reserve, resource, and mine life expansion

• Addition of New Afton and Rainy River increases proven and probable reserves by 46% and measured/indicated resources by 68% on a gold equivalent basis.

• New Afton’s 2025 reserves: 36.2M tonnes with 780,000 oz gold, 2.1M oz silver, 591M lbs copper; maiden K-Zone resource established.

• Rainy River’s 2025 reserves: 2.2M oz gold, 5.6M oz silver; mine life extended by two years to 2035, with annual gold production averaging 287,000 oz through 2028.

• K-Zone at New Afton offers substantial future mine life extension, with resources open laterally and at depth.

• Updated technical reports highlight mine life expansion and strong free cash flow at both New Afton and Rainy River.