Coeur Mining — Oct 29, 2025 release

NEWS RELEASE              Coeur Reports Third Quarter 2025 Results Record quarterly production, solid cost performance drive margin expansion; cash balance more than doubles to $266 million; full-year production and CAS 1 guidance ranges narrowed and refined Chicago, Illinois - October 29, 2025 - Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported record third quarter 2025 financial results, including revenue of $555 million and cash flow from operating activities of $238 million. The Company reported record quarterly GAAP net income from continuing operations of $267 million, or $0.41 per share. On an adjusted basis 1 , Coeur reported record quarterly EBITDA of $299 million, record cash flow from operating activities before changes in working capital of $239 million and record net income from continuing operations of $147 million, or $0.23 per share. Key Highlights • Record quarterly production and solid cost performance – Operating strength across the portfolio together with higher gold and silver prices drove a second consecutive quarter of record results. Quarterly silver production of 4.8 million ounces was 1% higher quarter-over-quarter and 57% higher year-over-year. Gold production increased 3% quarter-over-quarter and 17% year-over-year to 111,364 ounces. Average realized prices for gold and silver increased 4% and 15%, respectively, compared to the second quarter, leading to further margin expansion • Record quarterly financial results – Fifth consecutive quarter of positive free cash flow, which increased 29% versus the prior quarter to a record $189 million. Adjusted EBITDA 1 increased 23% versus the prior quarter to a record $299 million, bringing the last twelve-month (“LTM”) total to $808 million. Sixth consecutive quarter of GAAP net income, which totaled a record $267 million, or $0.41 per share • Significantly bolstered liquidity position – Quarter-end cash and equivalents more than doubled to $266 million compared to the prior quarter-end. Year-to-date, the Company has repaid over $228 million of total debt and its net leverage ratio decreased to 0.1x at quarter-end with a strong net cash position expected at year-end. Nearly 10% of the Company’s share repurchase program has been completed at an average price of $11.79 per share • Full-year production and cost guidance refined – Coeur refined its full year 2025 production guidance ranges, resulting in a 1% increase in the midpoint of expected full year gold production to 415,250 ounces and a 2% decrease in the midpoint of expected full year silver production to 18.1 million ounces. Coeur also adjusted its full-year 2025 cost guidance lower at three of its five operations “Coeur delivered another quarter of record financial results, driven by higher prices, balanced contributions from all five of our North American gold and silver operations along with overall strong cost control,” said Mitchell J. Krebs, Chairman, President and Chief Executive Officer. “Las Chispas experienced a particularly strong quarter, with the team continuing to exceed expectations in just its second full quarter of operations with the Company. 1 “We look forward to delivering another record quarter in the final three months of the year based on anticipated higher average realized prices and increasing margins which is expected to push full-year 2025 adjusted EBITDA to over $1 billion, full-year 2025 free cash flow to over $550 million and place the Company in an extremely strong position to achieve record-setting operating and financial results in 2026.” 2 Financial and Operating Highlights (Unaudited) (Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Gold Sales $ 360.5   $ 323.1  $ 235.3  $ 205.2  $ 223.8  Silver Sales $ 194.1   $ 157.5  $ 124.7  $ 100.2  $ 89.7  Consolidated Revenue $ 554.6   $ 480.7  $ 360.1  $ 305.4  $ 313.5  Costs Applicable to Sales 2 $ 248.7   $ 229.5  $ 204.3  $ 158.8  $ 156.7  General and Administrative Expenses $ 14.8   $ 13.3  $ 13.9  $ 11.1  $ 11.0  Net Income $ 266.8   $ 70.7  $ 33.4  $ 37.9  $ 48.7  Net Income Per Share $ 0.41   $ 0.11  $ 0.06  $ 0.08  $ 0.12  Adjusted Net Income 1 $ 147.3   $ 127.4  $ 59.9  $ 45.3  $ 47.2  Adjusted Net Income 1 Per Share $ 0.23   $ 0.20  $ 0.11  $ 0.11  $ 0.12  Weighted Average Shares Outstanding 644.9   643.1  521.2  401.0  400.8  EBITDA 1 $ 249.1   $ 203.0  $ 105.3  $ 104.6  $ 121.1  Adjusted EBITDA 1 $ 299.1   $ 243.5  $ 148.9  $ 116.4  $ 126.0  Cash Flow from Operating Activities $ 237.7   $ 207.0  $ 67.6  $ 63.8  $ 111.1  Capital Expenditures $ 49.0   $ 60.8  $ 50.0  $ 47.7  $ 42.0  Free Cash Flow 1 $ 188.7   $ 146.2  $ 17.6  $ 16.1  $ 69.1  Cash, Equivalents & Short-Term Investments $ 266.3   $ 111.6  $ 77.6  $ 55.1  $ 76.9  Total Debt 3 $ 363.5   $ 380.7  $ 498.3  $ 590.1  $ 605.2  Average Realized Price Per Ounce – Gold $ 3,148   $ 3,021  $ 2,635  $ 2,399  $ 2,309  Average Realized Price Per Ounce – Silver $ 38.93   $ 33.72  $ 32.05  $ 31.11  $ 29.86  Gold Ounces Produced 111,364   108,487  86,766  87,149  94,993  Silver Ounces Produced 4.8   4.7  3.7  3.2  3.0  Gold Ounces Sold 114,495   106,948  89,316  85,555  96,913  Silver Ounces Sold 5.0   4.7  3.9  3.2  3.0  Adjusted CAS per AuOz 1 $ 1,215   $ 1,260  $ 1,330  $ 1,192  $ 1,113  Adjusted CAS per AgOz 1 $ 14.95   $ 13.41  $ 14.28  $ 16.93  $ 15.67  Financial Results Third quarter 2025 revenue totaled $555 million compared to $481 million in the prior period and $314 million in the third quarter of 2024. The Company produced 111,364 and 4.8 million ounces of gold and silver, respectively, during the quarter. Metal sales for the quarter totaled 114,495 ounces of gold and 5.0 million ounces of silver. Average realized gold and silver prices for the quarter were $3,148 and $38.93 per ounce, respectively, compared to $3,021 and $33.72 per ounce in the prior period and $2,309 and $29.86 per ounce in the third quarter of 2024. Gold and silver sales represented 65% and 35% of quarterly revenue, respectively, compared to 67% and 33% in the prior period. The Company’s U.S. operations accounted for approximately 55% of both third and second quarter revenue. Adjusted costs applicable to sales per ounce 1 of gold and silver totaled $1,215 and $14.95 respectively. General and administrative expenses increased $2 million, or 11%, quarter-over-quarter to $15 million, due primarily to increased stock-based compensation. Coeur invested approximately $30 million ($25 million expensed and $5 million capitalized) in exploration during the quarter, compared to approximately $30 million ($23 million expensed and $7 3 million capitalized) in the prior period. See the “Operations” and “Exploration” sections for additional detail on the Company’s exploration activities. The Company recorded a significant income and mining tax benefit during the third quarter driven primarily by recording a $216 million tax benefit related to recognition of a significant portion of its U.S. deferred tax assets, including Federal Net Operating Losses on the balance sheet at September 30, 2025. The $216 million valuation allowance release is comprised of $54 million related to current year income and $162 million related to forecasted future year income. The recognition of the deferred tax asset was triggered as the three year cumulative net income position from the Company’s U.S. operations turned positive during the quarter. Cash income and mining taxes paid during the period totaled approximately $36 million and have totaled $137 million year to date, including $63 million and $38 million in the first and second quarters, respectively. Quarterly operating cash flow increased to $238 million compared to $207 million in the prior period, driven by strong operational performance, increased metal sales and higher average metals prices. Changes in working capital during the quarter were $(1) million. Third quarter capital expenditures were $49 million compared to $61 million in the prior period. Sustaining and development capital expenditures accounted for approximately $34 million and $15 million, or 70% and 30%, respectively, of Coeur’s total capital investment during the quarter. 4 Operations Third quarter 2025 highlights for each of the Company’s operations are provided below. Las Chispas, Mexico (Dollars in millions, except per ounce amounts) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Tons milled 139,916 118,399 59,368 — — Average gold grade (oz/t) 0.110 0.150 0.130 — — Average silver grade (oz/t) 10.32 13.32 12.71 — — Average recovery rate – Au 97.9   % 98.6  % 98.6  % —  % —  % Average recovery rate – Ag 97.8   % 98.5  % 98.1  % —  % —  % Gold ounces produced 16,540 16,271 7,175 — — Silver ounces produced (000’s) 1,572 1,489 714 — — Gold ounces sold 17,800 16,025 9,607 — — Silver ounces sold (000’s) 1,675 1,479 924 — — Average realized price per gold ounce $ 3,427 $ 3,315 $ 2,902 $ — $ — Average realized price per silver ounce $ 38.89 $ 33.48 $ 32.63 $ — $ — Metal sales $ 126.1 $ 102.7 $ 58.0 $ — $ — Costs applicable to sales 2 $ 68.1 $ 57.7 $ 42.8 $ — $ — Adjusted CAS per AuOz 1 $ 934 $ 894 $ 744 $ — $ — Adjusted CAS per AgOz 1 $ 10.75 $ 8.94 $ 8.38 $ — $ — Exploration expense $ 2.5 $ 3.3 $ 1.9 $ — $ — Cash flow from operating activities $ 75.9 $ 58.6 $ 97.1 $ — $ — Sustaining capital expenditures (excludes capital lease payments) $ 9.8 $ 9.2 $ 5.3 $ — $ — Development capital expenditures $ — $ — $ — $ — $ — Total capital expenditures $ 9.8 $ 9.2 $ 5.3 $ — $ — Free cash flow 1 $ 66.1 $ 49.4 $ 91.8 $ — $ — Operational • Third quarter gold and silver production increased to 16,540 ounces and 1.6 million ounces, respectively, compared to 16,271 gold ounces and 1.5 million silver ounces in the prior period • Production during the quarter benefited from higher mill throughput driven by the consumption of the remaining acquired stockpile and recovery of in-circuit inventory Financial • Adjusted CAS 1 for gold and silver on a co-product basis totaled $934 for gold and $10.75 for silver, which were higher quarter-over-quarter due to the planned processing of lower grade acquired stockpile material • Gold and silver accounted for approximately 48% and 52% , respectively, of revenue during the quarter • Free cash flow 1 totaled $66 million compared to $49 million in the prior period Exploration • Exploration investment in the third quarter totaled approximately $4 million (substantially all expensed) compared to $3 million (substantially all expensed) in the prior period • In the Las Chispas Block and the Gap Zone, up to six rigs were active during the quarter: three on surface and three underground, while in the Babicanora Block up to 7 additional rigs were active underground • Infill and expansion drilling of the Augusta vein (in the Gap Zone) commenced from the new underground ramp with excellent results received, including the discovery of the Promesa vein located between Augusta and William Tell. The high-grade Augusta discovery made earlier this year has now 5 been traced over 450 meters along strike and 150 meters down dip, consistently yielding multi-kilo grade intercepts on a silver equivalent basis • The William Tell, William Tell Mini, North Las Chispas and La Sopresa veins continued to expand, supporting the potential for expansion of these resource zones • In the Babicanora Block, infill drilling delivered excellent results • In the fourth quarter, drilling is expected to continue on all veins detailed above and scout drilling is expected to commence on a number of targets across the district Guidance • The Company has increased Las Chispas’ 2025 gold and silver production guidance ranges to reflect strong performance since the acquisition closed on February 14 and strong expected mining and milling rates in the fourth quarter • Prorated production reflecting 10.5 months of contributions in 2025 is expected to be 50,000 - 58,000 ounces of gold (previously 42,500 - 52,500 ounces) and 5.0 - 5.5 million ounces of silver (previously 4.25 - 5.25 million ounces) • Prorated adjusted CAS 1 reflecting 10.5 months of contributions in 2025 are expected to be $850 - $950 per gold ounce and $9.25 - $10.25 per silver ounce, which are unchanged from previous guidance ranges • Prorated capital expenditures reflecting 10.5 months of contributions in 2025 are expected to be $30 - $34 million, consisting primarily of sustaining capital, which is unchanged from the previous guidance range • Prorated exploration investment reflecting 10.5 months of contributions in 2025 is expected to be $16 - $18 million (substantially all expensed), which is unchanged from the previous guidance range 6 Palmarejo, Mexico (Dollars in millions, except per ounce amounts) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Tons milled 485,267 483,880 440,920 419,008 413,463 Average gold grade (oz/t) 0.050 0.060 0.050 0.059 0.070 Average silver grade (oz/t) 3.47 4.06 4.36 4.17 5.15 Average recovery rate – Au 95.0   % 92.9  % 95.2  % 91.2  % 94.8  % Average recovery rate – Ag 89.9   % 88.6  % 87.4  % 88.3  % 85.6  % Gold ounces produced 24,802 27,272 23,032 22,490 27,549 Silver ounces produced (000’s) 1,514 1,741 1,680 1,543 1,823 Gold ounces sold 26,850 26,782 22,713 22,353 28,655 Silver ounces sold (000’s) 1,633 1,720 1,636 1,598 1,861 Average realized price per gold ounce $ 2,144 $ 2,093 $ 1,924 $ 1,750 $ 1,922 Average realized price per silver ounce $ 38.97 $ 33.76 $ 31.85 $ 31.27 $ 29.71 Metal sales $ 121.2 $ 114.1 $ 95.8 $ 89.1 $ 110.4 Costs applicable to sales 2 $ 51.0 $ 48.7 $ 43.7 $ 45.5 $ 47.5 Adjusted CAS per AuOz 1 $ 887 $ 888 $ 882 $ 894 $ 818 Adjusted CAS per AgOz 1 $ 16.44 $ 14.39 $ 14.37 $ 15.92 $ 12.60 Exploration expense $ 5.7 $ 4.0 $ 3.9 $ 3.8 $ 4.3 Cash flow from operating activities $ 52.6 $ 47.9 $ 8.7 $ 33.2 $ 55.6 Sustaining capital expenditures (excludes capital lease payments) $ 4.3 $ 3.6 $ 2.5 $ 6.5 $ 4.0 Development capital expenditures $ 1.4 $ 2.0 $ 3.4 $ 3.4 $ 4.0 Total capital expenditures $ 5.7 $ 5.6 $ 5.9 $ 9.9 $ 8.0 Free cash flow 1 $ 46.9 $ 42.3 $ 2.8 $ 23.3 $ 47.6 Operational • Third quarter gold and silver production totaled 24,802 and 1.5 million ounces, respectively, compared to 27,272 and 1.7 million ounces in the prior period and 27,549 and 1.8 million ounces in the third quarter of 2024 • Production during the quarter was affected by lower gold and silver grades, partially offset by higher recoveries Financial • Adjusted CAS 1 for gold and silver on a co-product basis totaled $887 and $16.44 per ounce, respectively • Capital expenditures totaled $6 million, which were flat compared to the prior period • Free cash flow 1 in the third quarter increased to $47 million compared to $42 million in the prior period, driven by stronger metals sales due to higher realized prices Exploration • Exploration investment totaled approximately $6 million (substantially all expensed) • The exploration program ramped up to 11 rigs across the property during the third quarter • A key area of focus during the quarter was the San Miguel deposit in the Guazapares block (in the Eastern District), including validation drilling of the historic Paramount resource. Most results are pending but visual inspection of the core is encouraging • On the Hidalgo Corridor, drilling continues to deliver excellent results, outlining an additional 500 meters of strike length year to date. Since its discovery in 2019, Hidalgo has become Palmarejo’s 7 second largest reserve after Guadalupe and is expected to expand further. Three ri gs are expected to remain active in the Hidalgo Corridor through year-end • At the Independencia Sur block, validation drilling of the historic Fresnillo resource is progressing with additional rigs added to enable completion by year-end resource calculations. This block is immediately adjacent to existing infrastructure and outside the area of interest of the Franco-Nevada gold stream agreement. Multiple veins, including Bruno and Independencia Sur, as well as potential new zones, have been intersected. Assay results are as expected and the program exhibits potential to confirm the historic resources in this area • At the Camuchin target located to the East, scout drilling has confirmed multiple veins spanning several kilometers, and assay results indicate veins are gold-rich, with good grades and narrow widths. Planning for a subsequent phase of the program in 2026 is underway Other • Approximately 49% of Palmarejo’s gold sales in the third quarter were sold under the gold stream agreement with Franco-Nevada at a price of $800 per ounce, totaling 13,228 ounces. The Company anticipates approximately 40% - 50% of Palmarejo’s 2025 gold sales will be sold under the gold stream agreement Guidance • The Company has increased Palmarejo’s 2025 gold and silver production guidance ranges and lowered the 2025 cost guidance ranges to reflect strong year-to-date performance and higher expected grades in the fourth quarter • Full-year 2025 production is expected to be 96,000 - 106,000 ounces of gold (previously 95,000 - 105,000 ounces) and 6.0 - 6.8 million ounces of silver (previously 5.4 - 6.5 million ounces) • Adjusted CAS 1 in 2025 are expected to be $890 - $960 per gold ounce (previously $950 - $1,150 per gold ounce) and $15.00 - $16.00 per silver ounce (previously $17.00 - $18.00 per silver ounce) • Capital expenditures are expected to be $26 - $32 million, consisting primarily of sustaining capital and underground development, which is unchanged from the previous guidance range • Exploration investment in 2025 is expected to be $16 - $18 million (substantially all expensed), which is unchanged from the previous guidance range 8 Rochester, Nevada (Dollars in millions, except per ounce amounts) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Ore tons placed 8,306,272   7,851,665  6,987,324  8,226,820  7,064,623  Average silver grade (oz/t) 0.57   0.60  0.59  0.44  0.57  Average gold grade (oz/t) 0.002   0.003  0.003  0.003  0.002  Silver ounces produced (000’s) 1,644   1,456  1,284  1,551  1,155  Gold ounces produced 14,801   14,302  13,353  15,752  9,690  Silver ounces sold (000’s) 1,656   1,438  1,282  1,571  1,098  Gold ounces sold 13,975   13,881  14,713  14,824  9,186  Average realized price per silver ounce $ 38.95   $ 33.88  $ 31.86  $ 30.97  $ 30.13  Average realized price per gold ounce $ 3,431   $ 3,333  $ 2,840  $ 2,604  $ 2,492  Metal sales $ 112.5   $ 95.0  $ 82.6  $ 87.2  $ 56.0  Costs applicable to sales 2 $ 52.0   $ 47.9  $ 48.5  $ 51.5  $ 39.4  Adjusted CAS per AgOz 1 $ 17.73   $ 16.83  $ 18.41  $ 17.96  $ 20.88  Adjusted CAS per AuOz 1 $ 1,585   $ 1,675  $ 1,670  $ 1,495  $ 1,735  Prepayment, working capital cash flow $ —   $ —  $ (17.5) $ —  $ —  Exploration expense $ 3.2   $ 1.2  $ 1.5  $ 2.7  $ 1.0  Cash flow from operating activities $ 41.2   $ 39.6  $ (7.0) $ 26.0  $ 3.2  Sustaining capital expenditures (excludes capital lease payments) $ 4.8   $ 20.7  $ 8.5  $ 10.4  $ 7.0  Development capital expenditures $ 6.8   $ 3.8  $ 6.4  $ 3.5  $ 3.1  Total capital expenditures $ 11.6   $ 24.5  $ 14.9  $ 13.9  $ 10.1  Free cash flow 1 $ 29.6   $ 15.1  $ (21.9) $ 12.1  $ (6.9) Operational • Silver and gold production in the third quarter increased to 1.6 million and 14,801 ounces, respectively, compared to 1.5 million and 14,302 ounces in the prior period and 1.2 million and 9,690 ounces in the third quarter of 2024 • Ore tons placed during the quarter totaled 8.3 million tons, consisting of approximately 6.3 million tons through the crushing circuit, down from 6.7 million tons in the prior quarter largely due to planned downtime in July to complete several crusher upgrades. Additionally, the Company placed approximately 2.0 million tons of direct to pad (DTP) material, up from 1.1 million tons of DTP material placed in the prior quarter Financial • Third quarter adjusted CAS 1 for silver and gold on a co-product basis totaled $17.73 and $1,585 per ounce • Capital expenditures decreased to $12 million compared to $25 million in the prior period, driven mainly by capitalized stripping to offload material from the legacy Stage I and II leach pads • Free cash flow 1 in the third quarter totaled $30 million compared to $15 million in the prior period Exploration • Exploration investment in the third quarter totaled approximately $3 million substantially all expensed compared to roughly $4 million ($1 million expensed and $3 million capitalized) in the prior quarter • One rig was active during the quarter conducting infill, expansion and condemnation drilling at Lincoln Hill. Most results are pending but visual review of core indicate mineralized veins in the expected locations 9 • Significant focus was placed on completion of geological models to support the Nevada Packard, Rochester and Lincoln Hill resource modelling for year end. This modeling is allowing us to make rapid strides in our understanding of the orebodies and this solid foundation is being used to support planning for district exploration in 2026 Guidance • The Company has revised Rochester’s 2025 production and cost guidance ranges to reflect the cumulative effect of lower than planned tons placed under leach year-to-date due to crusher down time to complete a range of upgrades and the expected timing of these placed ounces • Full-year 2025 production is expected to be 6.0 - 6.7 million ounces of silver (previously 7.0 - 8.3 million ounces) and 55,000 - 62,500 ounces of gold (previously 60,000 - 75,000 ounces) • Adjusted CAS 1 for 2025 are expected to be $17.00 - $18.50 per silver ounce (previously $14.50 - $16.50 per silver ounce) and $1,550 - $1,650 per gold ounce (previously $1,250 - $1,450 per gold ounce) • Capital expenditures are expected to be $57 - $70 million, which is unchanged from the previous guidance range • Exploration investment in 2025 is expected to be $13 - $16 million ($11 - $12 million expensed and $2 - $4 million capitalized), which is unchanged from the previous guidance range Kensington, Alaska (Dollars in millions, except per ounce amounts) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Tons milled 188,705   192,169  185,344  183,639  165,916  Average gold grade (oz/t) 0.16   0.15  0.13  0.16  0.16  Average recovery rate 90.5% 91.8% 93.3% 91.8% 90.4% Gold ounces produced 27,231   26,555  22,715  26,931  24,104  Gold ounces sold 28,011   26,751  22,205  25,839  24,800  Average realized price per gold ounce, gross $ 3,588   $ 3,410  $ 2,990  $ 2,702  $ 2,563  Treatment and refining charges per gold ounce $ 56   $ 56  $ 53  $ 53  $ 56  Average realized price per gold ounce, net $ 3,532   $ 3,354  $ 2,937  $ 2,649  $ 2,507  Metal sales $ 98.9   $ 89.8  $ 65.2  $ 68.3  $ 62.2  Costs applicable to sales 2 $ 46.7   $ 46.1  $ 42.2  $ 39.7  $ 38.1  Adjusted CAS per AuOz 1 $ 1,659   $ 1,713  $ 1,882  $ 1,529  $ 1,539  Prepayment, working capital cash flow $ —   $ —  $ (12.1) $ (12.9) $ 11.8  Exploration expense $ 2.2   $ 1.5  $ 3.3  $ 0.7  $ 2.0  Cash flow from operating activities $ 46.4   $ 36.0  $ 5.9  $ 8.5  $ 38.1  Sustaining capital expenditures (excludes capital lease payments) $ 9.4   $ 12.3  $ 15.2  $ 18.9  $ 20.0  Development capital expenditures $ 6.2   $ 4.0  $ 0.3  $ —  $ —  Total capital expenditures $ 15.6   $ 16.3  $ 15.5  $ 18.9  $ 20.0  Free cash flow 1 $ 30.8   $ 19.7  $ (9.6) $ (10.4) $ 18.1  Operational • Gold production in the third quarter increased to 27,231 ounces compared to 26,555 ounces in the prior period and 24,104 ounces in the third quarter of 2024 • Stronger production during the quarter was driven by higher average gold grade partially offset by a decrease in mill throughput Financial 10 • Third quarter adjusted CAS 1 decreased to $1,659 per ounce compared to $1,713 per ounce in the prior period, due primarily to increased metal sales • Capital expenditures increased 4% quarter-over-quarter to $16 million. The second quarter marked the end of the multi-year underground mine development program at Kensington • Free cash flow 1 in the third quarter increased to $31 million, reflecting increased metals sales Exploration • Exploration investment in the third quarter totaled approximately $4 million ($2 million expensed and $2 million capitalized), compared to $5 million ($2 million expensed and $3 million capitalized) in the prior period • Programs in Upper Kensington (expansion and infill drilling at Zones 30 and 30B) were completed during the quarter with excellent results received. Drilling is continuing in Lower Kensington with most results pending but exhibiting highly encouraging visual results • At Elmira, drilling is progressing well, with over 95% of the drillholes intersecting mineralization as predicted by the geology model. Results are as expected, supporting the potential for positive contributions to year end resource and reserve calculations • Drilling at the Johnson target, located 150 meters to the east of Elmira was not in the original budget for 2025 but excellent 2024 results received in the first quarter warranted follow-up this year Guidance • The Company has increased Kensington’s 2025 gold production guidance range and narrowed its cost guidance range to reflect strong year-to-date performance and higher expected mining face availability in the fourth quarter as a result of the Company’s recently completed multi-year investment in underground development • Full-year 2025 production is expected to be 98,500 - 108,500 gold ounces (previously 92,500 - 107,500 ounces) • Adjusted CAS 1 in 2025 are expected to be $1,700 - $1,800 per gold ounce (previously $1,700 - $1,900 per ounce) • Capital expenditures are expected to be $55 - $64 million, which are unchanged from the previous guidance range • Exploration investment in 2025 is expected to be $11 - $14 million ($6 - $8 million expensed and $5 - $6 million capitalized), which are unchanged from the previous guidance range 11 Wharf, South Dakota (Dollars in millions, except per ounce amounts) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q2024 Ore tons placed 1,345,662   1,105,605  1,033,699  1,164,894  1,424,649  Average gold grade (oz/t) 0.028   0.035  0.020  0.023  0.046  Gold ounces produced 27,990   24,087  20,491  21,976  33,650  Silver ounces produced (000’s) 25   36  51  54  42  Gold ounces sold 27,859   23,509  20,078  22,539  34,272  Silver ounces sold (000’s) 22   35  50  54  45  Average realized price per gold ounce $3,412 $3,315 $2,827 $2,620 $2,440 Metal sales $ 95.9   $ 79.1  $ 58.4  $ 60.7  $ 85.0  Costs applicable to sales 2 $ 30.9   $ 29.0  $ 27.0  $ 22.1  $ 31.8  Adjusted CAS per AuOz 1 $ 1,079   $ 1,175  $ 1,260  $ 902  $ 885  Prepayment, working capital cash flow $ —   $ —  $ (12.5) $ —  $ —  Exploration expense $ 0.7   $ 3.5  $ 2.6  $ 2.7  $ 2.3  Cash flow from operating activities $ 57.2   $ 41.4  $ 15.7  $ 22.2  $ 51.6  Sustaining capital expenditures (excludes capital lease payments) $ 1.2   $ 2.3  $ 6.4  $ 2.9  $ 2.8  Development capital expenditures $ 2.0   $ 1.3  $ 1.0  $ —  $ —  Total capital expenditures $ 3.2   $ 3.6  $ 7.4  $ 2.9  $ 2.8  Free cash flow 1 $ 54.0   $ 37.8  $ 8.3  $ 19.3  $ 48.8  Operational • Gold production in the third quarter increased 16% quarter-over-quarter to 27,990 ounces, driven by higher gold grades Financial • Adjusted CAS 1 on a by-product basis decreased 8% quarter-over-quarter to $1,079 per ounce, due primarily to higher gold sales • Capital expenditures totaled approximately $3 million compared to $4 million in the prior period • Free cash flow 1 in the third quarter increased to $54 million compared to $38 million in the prior period Exploration • Exploration investment during the third quarter totaled $3 million (substantially all expensed), compared to $4 million (substantially all expensed) in the prior quarter • All drilling in the quarter was focused on the Juno deposit, following up on 2024 expansion drilling, which extended mineralization approximately 500 feet to the northwest. This program was completed at the end of August • Results from all programs support a meaningful expected contribution to year-end reserve and resource estimates Guidance • The Company has increased Wharf’s 2025 gold and silver production guidance ranges to reflect strong year-to-date performance and higher expected grades in the fourth quarter • Full-year 2025 production is expected to be 93,000 - 103,000 gold ounces (previously 90,000 - 100,000 ounces) and 100,000 - 150,000 ounces of silver (previously 50,000 - 200,000 ounces) • Adjusted CAS 1 in 2025 are expected to be $1,125 - $1,225 per gold ounce (previously $1,250 - $1,350 per ounce) 12 • Capital expenditures are expected to be $13 - $17 million, which is unchanged from the previous guidance range • Exploration investment in 2025 is expected to be $7 - $10 million (substantially all expensed), which is unchanged from the previous guidance range 13 Exploration The Company’s exploration investment in 2025 is expected to total $67 - $77 million for expansion drilling (classified as exploration expense) and $10 - $16 million for infill drilling (capitalized exploration) for a total expected investment of $77 - $93 million. Top exploration priorities for 2025 are: (1) continuing to build the inferred pipeline at Palmarejo to provide optionality to the operation, including to the east of existing operations outside the Franco-Nevada gold stream area of interest, where 60% of this year’s exploration investment is budgeted; (2) outlining higher-grade structures to enhance near-term margins and longer-term free cash flow profile of Rochester; (3) maintaining a 5-year reserve-based mine life at Kensington while finding higher-grade zones to enhance cash flow; (4) completing the expansion and infill programs at Wharf to add to the life of mine; (5) building on the new geological model and understanding at Silvertip to grow the resource base, and; (6) rapidly building detailed knowledge of Las Chispas and maintaining mine life. During the third quarter, Coeur invested approximately $30 million ($25 million expensed and $5 million capitalized), compared to roughly $30 million ($23 million expensed and $7 million capitalized) in the prior period. At Silvertip, exploration investment totaled approximately $10 million in the third quarter, compared to $9 million in the prior period, with up to five rigs drilling across the property. During the third quarter, drilling focused on a number of targets in the Southern Silver, Discovery, Camp Creek and Saddle Zones, using one underground rig and four surface rigs. Drilling was also undertaken over the Silverknife Property which is under option agreement. In addition to drilling a comprehensive regional program of geological mapping, rock chip sampling, stream and soil geochemical surveys and a LiDAR survey was completed. Results are mostly pending but core review indicates highly encouraging visual results. 14 2025 Guidance The Company has refined its 2025 production and cost guidance ranges as reflected below. 2025 Production Guidance Previous Updated Gold Silver Gold Silver (oz) (K oz) (oz) (K oz) Las Chispas 42,500 - 52,500 4,250 - 5,250 50,000 - 58,000 5,000 - 5,500 Palmarejo 95,000 - 105,000 5,400 - 6,500 96,000 - 106,000 6,000 - 6,800 Rochester 60,000 - 75,000 7,000 - 8,300 55,000 - 62,500 6,000 - 6,700 Kensington 92,500 - 107,500 — 98,500 - 108,500 — Wharf 90,000 - 100,000 50 - 200 93,000 - 103,000 100 - 150 Total 380,000 - 440,000 16,700 - 20,250 392,500 - 438,000 17,100 - 19,150 2025 Adjusted Costs Applicable to Sales Guidance Previous Updated Gold Silver Gold Silver ($/oz) ($/oz) ($/oz) ($/oz) Las Chispas (co-product) $850 - $950 $9.25 - $10.25 $850 - $950 $9.25 - $10.25 Palmarejo (co-product) $950 - $1,150 $17.00 - $18.00 $890 - $960 $15.00 - $16.00 Rochester (co-product) $1,250 - $1,450 $14.50 - $16.50 $1,550 - $1,650 $17.00 - $18.50 Kensington $1,700 - $1,900 — $1,700 - $1,800 — Wharf (by-product) $1,250 - $1,350 — $1,125 - $1,225 — 2025 Capital, Exploration, G&A and Income and Mining Tax Guidance Previous Updated ($M) ($M) Capital Expenditures, Sustaining $142 - $156 $142 - $156 Capital Expenditures, Development $55 - $69 $55 - $69 Exploration, Expensed $67 - $77 $67 - $77 Exploration, Capitalized $10 - $16 $10 - $16 General & Administrative Expenses $48 - $52 $50 - $55 Effective Tax Rate (%) — 27% - 33% Cash Taxes — $165 - $195 Note: The Company’s previous guidance figures assume estimated prices of $2,700/oz gold and $30.00/oz silver as well as CAD of 1.425 and MXN of 20.50. Guidance figures exclude the impact of any metal sales or foreign exchange hedges. The Company’s updated guidance figures assume estimated prices of $3,411/oz gold and $37.82/oz silver as well as CAD of 1.38 and MXN of 20.0. Guidance figures exclude the impact of any metal sales or foreign exchange hedges. On August 6, 2025, the Company increased its 2025 general & administrative expense guidance to reflect the non-cash increase in incentive compensation related to expected performance share expense. 15 The normalized effective tax rate excludes items that are not reflective of Coeur’s underlying performance, such as the impacts of foreign currency on deferred taxes, taxes related to prior periods, and one-time, non-cash, tax valuation allowance adjustments. 16 Financial Results and Conference Call Coeur will host a conference call to discuss its third quarter 2025 financial results on October 30, 2025 at 11:00 a.m. Eastern Time. Dial-In Numbers:        (855) 560-2581 (U.S.)         (855) 669-9657 (Canada)         (412) 542-4166 (International) Conference ID:        Coeur Mining Hosting the call will be Mitchell J. Krebs, Chairman, President and Chief Executive Officer of Coeur, who will be joined by Thomas S. Whelan, Senior Vice President and Chief Financial Officer, Michael “Mick” Routledge, Senior Vice President and Chief Operating Officer, Aoife McGrath, Senior Vice President, Exploration, and other members of management. A replay of the call will be available through November 6, 2025. Replay numbers:        (877) 344-7529 (U.S.)         (855) 669-9658 (Canada)         (412) 317-0088 (International) Conference ID:        144 51 57 About Coeur Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with five wholly-owned operations: the Las Chispas silver-gold mine in Sonora, Mexico, the Palmarejo gold-silver complex in Chihuahua, Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota. In addition, the Company wholly-owns the Silvertip polymetallic critical minerals exploration project in British Columbia. Cautionary Statements This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding EBITDA, cash flow, production, costs, capital expenditures, tax rates and treatment, exploration and development efforts and plans and potential impacts on reserves and resources, mine lives and expected extensions, the gold stream agreement at Palmarejo, anticipated production, and costs and expenses and operations at Las Chispas, Palmarejo, Rochester, Kensington and Wharf. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that anticipated production, cost and expense levels are not attained, the risks and hazards inherent in the mining business (including risks inherent in developing and expanding large-scale mining projects, environmental hazards, industrial accidents, weather or geologically-related conditions), changes in the market prices of gold and silver and a sustained lower price or higher treatment and refining charge environment, the uncertainties inherent in Coeur’s production, exploration and development activities, including risks relating to permitting and regulatory delays (including the impact of government shutdowns) and mining law changes, ground conditions, grade and recovery variability, any future labor disputes or work stoppages (involving the Company and its subsidiaries or third parties), the risk of adverse outcomes in litigation, the uncertainties inherent in the estimation of mineral reserves and resources, impacts from Coeur’s future acquisition of new mining properties or businesses, risks associated with the continued integration of the Las Chispas mine after the recent acquisition of SilverCrest Metals, Inc., the risk that the Rochester expansion does not sustain planned performance, the loss of access or insolvency of any third-party refiner or smelter to whom Coeur markets its production, materials and equipment availability, inflationary pressures, changes in applicable tax laws or regulatory interpretations, impacts from tariffs or other trade barriers, continued access to financing sources, the effects of environmental and other governmental regulations and government shut-downs, the risks inherent in the ownership or operation of or investment in mining properties or businesses in 17 foreign countries, Coeur’s ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur’s most recent reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities. This does not constitute an offer of any securities for sale. The scientific and technical information concerning our mineral projects in this news release have been reviewed and approved by a “qualified person” under Item 1300 of SEC Regulation S-K, namely our Vice President, Technical Services, Christopher Pascoe. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for each of the Company’s material properties which are available at www.sec.gov. Non-U.S. GAAP Measures We supplement the reporting of our financial information determined under United States generally accepted accounting principles (U.S. GAAP) with certain non-U.S. GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted net income (loss), operating cash flow before changes in working capital and adjusted costs applicable to sales per ounce. We believe that these adjusted measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. We believe these adjusted financial measures are important indicators of our recurring operations because they exclude items that may not be indicative of, or are unrelated to our core operating results, and provide a better baseline for analyzing trends in our underlying businesses. We believe EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted net income (loss) and adjusted costs applicable to sales per ounce are important measures in assessing the Company’s overall financial performance. For additional explanation regarding our use of non-U.S. GAAP financial measures, please refer to our Form 10-K for the year ended December 31, 2024. Notes 1.    EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted net income (loss), operating cash flow before changes in working capital and adjusted costs applicable to sales per ounce (gold and silver) are non-GAAP measures. Please see tables in the Appendix for the reconciliation to U.S. GAAP. Free cash flow is defined as cash flow from operating activities less capital expenditures. Liquidity is defined as cash and cash equivalents plus availability under the Company’s RCF. Future borrowing under the RCF may be subject to certain financial covenants. Please see tables in Appendix for the calculation of consolidated free cash flow and liquidity. 2. Excludes amortization. 3. Includes capital leases. Net of debt issuance costs and premium received. Average Spot Prices 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Average Gold Spot Price Per Ounce $ 3,457  $ 3,280  $ 2,860  $ 2,663  $ 2,474  Average Silver Spot Price Per Ounce $ 39.40  $ 33.68  $ 31.88  $ 31.38  $ 29.43  Average Zinc Spot Price Per Pound $ 1.28  $ 1.20  $ 1.29  $ 1.38  $ 1.26  Average Lead Spot Price Per Pound $ 0.89  $ 0.88  $ 0.89  $ 0.91  $ 0.92  For Additional Information Coeur Mining, Inc. 200 S. Wacker Drive, Suite 2100 Chicago, IL 60606 Attention: Jeff Wilhoit, Senior Director, Investor Relations Phone: (312) 489-5800 www.coeur.com 18 Source: Coeur Mining 19 COEUR MINING, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) September 30, 2025 December 31, 2024 ASSETS In thousands, except share data CURRENT ASSETS Cash and cash equivalents $ 266,342  $ 55,087  Receivables 67,715  29,930  Inventory 156,666  78,617  Ore on leach pads 143,126  92,724  Prepaid expenses and other 33,321  16,741  667,170  273,099  NON-CURRENT ASSETS Property, plant and equipment and mining properties, net 2,772,267  1,817,616  Goodwill 632,380  —  Ore on leach pads 107,576  106,670  Restricted assets 9,129  8,512  Receivables 14,266  19,583  Deferred tax assets 239,214  3,632  Other 70,160  72,635  TOTAL ASSETS $ 4,512,162  $ 2,301,747  LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable $ 136,753  $ 125,877  Accrued liabilities and other 155,188  156,609  Debt 24,859  31,380  Reclamation 16,954  16,954  333,754  330,820  NON-CURRENT LIABILITIES Debt 338,657  558,678  Reclamation 259,270  243,538  Deferred tax liabilities 420,438  7,258  Other long-term liabilities 66,261  38,201  1,084,626  847,675  COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY Common stock, par value $0.01 per share; authorized 900,000,000 shares, 642,210,145 issued and outstanding at September 30, 2025 and 399,235,632 at December 31, 2024 6,422  3,992  Additional paid-in capital 5,778,718  4,181,521  Accumulated deficit (2,691,358) (3,062,261) 3,093,782  1,123,252  TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 4,512,162  $ 2,301,747  . 20 COEUR MINING, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)   Three Months Ended September 30, Nine Months Ended September 30,   2025 2024 2025 2024   In thousands, except share data Revenue $ 554,567  $ 313,476  $ 1,395,279  $ 748,562  COSTS AND EXPENSES Costs applicable to sales (1) 248,736  156,742  682,456  447,456  Amortization 72,930  33,216  177,444  88,441  General and administrative 14,830  10,966  41,992  36,611  Exploration 25,141  19,567  68,079  42,932  Pre-development, reclamation, and other 15,843  8,583  45,957  35,401  Total costs and expenses 377,480  229,074  1,015,928  650,841  Income from operations 177,087  84,402  379,351  97,721  OTHER INCOME (EXPENSE), NET Gain (loss) on debt extinguishment (6) —  (6) 417  Fair value adjustments, net —  —  (342) —  Interest expense, net of capitalized interest (6,273) (13,280) (24,974) (39,389) Other, net (865) 3,434  1,001  11,329  Total other income (expense), net (7,144) (9,846) (24,321) (27,643) Income before income and mining taxes 169,943  74,556  355,030  70,078  Income and mining tax benefit (expense) 96,881  (25,817) 15,873  (49,030) NET INCOME $ 266,824  $ 48,739  $ 370,903  $ 21,048  OTHER COMPREHENSIVE INCOME (LOSS): Change in fair value of derivative contracts designated as cash flow hedges —  —  —  (18,507) Reclassification adjustments for realized (gain) loss on cash flow hedges —  —  —  17,176  Other comprehensive income (loss) —  —  —  (1,331) COMPREHENSIVE INCOME $ 266,824  $ 48,739  $ 370,903  $ 19,717  NET INCOME PER SHARE Basic income per share: Basic $ 0.42  $ 0.12  $ 0.62  $ 0.05  Diluted $ 0.41  $ 0.12  $ 0.61  $ 0.05  (1) Excludes amortization. 21 COEUR MINING, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)   Three Months Ended September 30, Nine Months Ended September 30,   2025 2024 2025 2024   In thousands CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 266,824  $ 48,739  $ 370,903  $ 21,048  Adjustments: Amortization 72,930  33,216  177,444  88,441  Accretion 4,988  4,233  14,620  12,463  Deferred taxes (145,740) (816) (175,297) (5,604) (Gain) loss on debt extinguishment 6  —  6  (417) Fair value adjustments, net —  —  342  —  Stock-based compensation 5,012  2,809  12,527  9,789  Write-downs —  —  —  3,235  Deferred revenue recognition (153) (130) (42,661) (55,407) Acquired inventory purchase price allocation 33,443  —  90,163  —  Other 1,392  (1,119) 5,944  10,259  Changes in operating assets and liabilities: Receivables (7,132) 1,616  (7,953) (520) Prepaid expenses and other current assets (7,489) (352) 77,000  3,185  Inventory and ore on leach pads (5,011) (14,320) (27,484) (53,788) Accounts payable and accrued liabilities 18,636  37,187  16,738  77,757  CASH PROVIDED BY OPERATING ACTIVITIES 237,706  111,063  512,292  110,441  CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (49,034) (41,980) (159,843) (135,468) Acquisitions, net (10,000) (10,000) 93,635  (10,000) Proceeds from the sale of assets (76) 1  4  25  Other (80) (70) (255) (285) CASH USED IN INVESTING ACTIVITIES (59,190) (52,049) (66,459) (145,728) CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of common stock 320  —  9,769  22,823  Issuance of notes and bank borrowings, net of issuance costs 20,000  77,500  166,500  327,500  Payments on debt, finance leases, and associated costs (37,486) (133,250) (394,451) (297,128) Share repurchases (5,334) —  (7,338) —  Other financing activities (1,388) (208) (9,293) (2,018) CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (23,888) (55,958) (234,813) 51,177  Effect of exchange rate changes on cash and cash equivalents 78  (263) 282  (584) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 154,706  2,793  211,302  15,306  Cash, cash equivalents and restricted cash at beginning of period 113,470  75,891  56,874  63,378  Cash, cash equivalents and restricted cash at end of period $ 268,176  $ 78,684  $ 268,176  $ 78,684  22 Adjusted EBITDA Reconciliation (Dollars in thousands except per share amounts) LTM 3Q 2025 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Net income $ 408,755  $ 266,824  $ 70,726  $ 33,353  $ 37,852  $ 48,739  Interest expense, net of capitalized interest 36,861  6,273  8,251  10,450  11,887  13,280  Income tax provision (benefit) 2,547  (96,881) 62,595  18,413  18,420  25,817  Amortization 213,977  72,930  61,421  43,093  36,533  33,216  EBITDA 662,140  249,146  202,993  105,309  104,692  121,052  Fair value adjustments, net 342  —  (4) 346  —  —  Foreign exchange (gain) loss 1,271  2,080  (246) 758  (1,321) (1,708) Asset retirement obligation accretion 18,935  4,988  4,900  4,732  4,315  4,233  Inventory adjustments and write-downs 6,276  1,198  1,598  1,928  1,552  1,231  (Gain) loss on sale of assets 314  113  117  186  (102) 176  RMC bankruptcy distribution (132) —  (37) —  (95) —  (Gain) loss on debt extinguishment 6  6  —  —  —  —  Transaction costs 19,702  451  2,823  8,887  7,541  976  Kensington royalty settlement (67) —  28  (95) —  —  Wage and hour litigation settlement 6,998  6,998  —  —  —  —  Mexico arbitration matter 3,045  743  1,740  410  152  1,327  Flow-through share premium (1,177) (111) (112) (585) (369) (1,247) COVID-19 —  —  —  —  —  1  Acquired inventory purchase price 90,164  33,443  29,681  27,040  —  —  Adjusted EBITDA $ 807,817  $ 299,055  $ 243,481  $ 148,916  $ 116,365  $ 126,041  Revenue $ 1,700,723  $ 554,567  $ 480,650  $ 360,062  $ 305,444  $ 313,476  Adjusted EBITDA Margin 47  % 54  % 51  % 41  % 38  % 40  % Adjusted Net Income Reconciliation (Dollars in thousands except per share amounts) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Net income $ 266,824  $ 70,726  $ 33,353  $ 37,852  $ 48,739  Fair value adjustments, net —  (4) 346  —  —  Foreign exchange loss (gain) (1) 11,831  28,072  574  265  (2,247) (Gain) loss on sale of assets 113  117  186  (102) 176  RMC bankruptcy distribution —  (37) —  (95) —  (Gain) loss on debt extinguishment 6  —  —  —  —  Transaction costs 451  2,823  8,887  7,541  976  Kensington royalty settlement —  28  (95) —  —  Wage and hour litigation settlement 6,998  —  —  —  —  Mexico arbitration matter 743  1,740  410  152  1,327  Flow-through share premium (111) (112) (585) (369) (1,247) COVID-19 —  —  —  —  1  Acquired inventory purchase price 33,443  29,681  27,040  —  —  Valuation allowance and tax effect of adjustments (173,022) (5,633) (10,230) 142  (568) Adjusted net income $ 147,276  $ 127,401  $ 59,886  $ 45,386  $ 47,157  Adjusted net income per share - Basic $ 0.23  $ 0.20  $ 0.12  $ 0.12  $ 0.12  Adjusted net income per share - Diluted $ 0.23  $ 0.20  $ 0.11  $ 0.11  $ 0.12  (1) Includes the impact of foreign exchange rates on deferred tax balances of $9.8 million, $28.3 million, $(0.2) million, $(0.9) million, and $0.5 million for the three months ended September 30, June 30 and March 31, 2025 and December 31 and September 30 2024, respectively. 23 Consolidated Free Cash Flow Reconciliation (Dollars in thousands) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Cash flow from operations $ 237,706  $ 206,951  $ 67,635  $ 63,793  $ 111,063  Capital expenditures 49,034  60,807  50,002  47,720  41,980  Free cash flow $ 188,672  $ 146,144  $ 17,633  $ 16,073  $ 69,083  Consolidated Operating Cash Flow Before Changes in Working Capital Reconciliation (Dollars in thousands) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Cash provided by operating activities $ 237,706  $ 206,951  $ 67,635  $ 63,793  $ 111,063  Changes in operating assets and liabilities: Receivables 7,132  4,766  (3,945) (16) (1,616) Prepaid expenses and other 7,489  (2,424) (82,065) 408  352  Inventories 5,011  14,125  8,348  15,852  14,320  Accounts payable and accrued liabilities (18,636) (61,845) 63,743  (1,485) (37,187) Operating cash flow before changes in working capital $ 238,702  $ 161,573  $ 53,716  $ 78,552  $ 86,932  Net Debt and Leverage Ratio (Dollars in thousands) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Total debt $ 363,516  $ 380,722  $ 498,269  $ 590,058  $ 605,183  Cash and cash equivalents (266,342) (111,646) (77,574) (55,087) (76,916) Net debt $ 97,174  $ 269,076  $ 420,695  $ 534,971  $ 534,971  $ 528,267  Net debt $ 97,174  $ 269,076  $ 420,695  $ 534,971  $ 528,267  Last Twelve Months Adjusted EBITDA $ 807,817  $ 634,803  $ 443,729  $ 339,152  $ 287,079  Leverage ratio 0.1  0.4  0.9  1.6  1.8  24 Reconciliation of Costs Applicable to Sales for Three Months Ended September 30, 2025 In thousands (except metal sales, per ounce or per pound amounts) Las Chispas Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $ 99,012  $ 61,125  $ 70,487  $ 57,144  $ 32,689  $ 989  $ 321,446  Amortization (30,908) (10,115) (18,501) (10,435) (1,762) (989) (72,710) Costs applicable to sales $ 68,104  $ 51,010  $ 51,986  $ 46,709  $ 30,927  $ —  $ 248,736  Inventory Adjustments (36) (358) (473) (272) (23) — (1,162) Acquired inventory purchase price allocation (33,443) — — — — — (33,443) By-product credit — — — 41 (846) — (805) Adjusted costs applicable to sales $ 34,625  $ 50,652  $ 51,513  $ 46,478  $ 30,058  $ —  $ 213,326  Metal Sales Gold ounces 17,800  26,850  13,975  28,011  27,859  —  114,495  Silver ounces 1,674,770  1,633,196  1,656,336  —  21,650  —  4,985,952  Zinc pounds —  —  Lead pounds —  —  Revenue Split Gold 48  % 47  % 43  % 100  % 100  % Silver 52  % 53  % 57  % —  % Zinc —  % Lead —  % Adjusted costs applicable to sales Gold ($/oz) $ 934  $ 887  $ 1,585  $ 1,659  $ 1,079  $ 1,215  Silver ($/oz) $ 10.75  $ 16.44  $ 17.73  $ —  $ 14.95  Zinc ($/lb) $ —  $ —  Lead ($/lb) $ —  $ —  25 Reconciliation of Costs Applicable to Sales for Three Months Ended June 30, 2025 In thousands (except metal sales, per ounce or per pound amounts) Las Chispas Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $ 80,122  $ 58,109  $ 64,676  $ 56,304  $ 30,542  $ 928  $ 290,681  Amortization (22,375) (9,406) (16,748) (10,221) (1,549) (928) (61,227) Costs applicable to sales $ 57,747  $ 48,703  $ 47,928  $ 46,083  $ 28,993  $ —  $ 229,454  Inventory Adjustments (523) (147) (489) (222) (191) — (1,572) Acquired inventory purchase price allocation (29,681) — — — — — (29,681) By-product credit — — — (41) (1,188) — (1,229) Adjusted costs applicable to sales $ 27,543  $ 48,556  $ 47,439  $ 45,820  $ 27,614  $ —  $ 196,972  Metal Sales Gold ounces 16,025  26,782  13,881  26,751  23,509  —  106,948  Silver ounces 1,479,410  1,720,383  1,437,811  —  34,916  —  4,672,520  Zinc pounds —  —  Lead pounds —  —  Revenue Split Gold 52  % 49  % 49  % 100  % 100  % Silver 48  % 51  % 51  % —  % Zinc —  % Lead —  % Adjusted costs applicable to sales Gold ($/oz) $ 894  $ 888  $ 1,675  $ 1,713  $ 1,175  $ 1,260  Silver ($/oz) $ 8.94  $ 14.39  $ 16.83  $ —  $ 13.41  Zinc ($/lb) $ —  $ —  Lead ($/lb) $ —  $ —  26 Reconciliation of Costs Applicable to Sales for Three Months Ended March 31, 2025 In thousands (except metal sales, per ounce or per pound amounts) Las Chispas Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $ 51,770  $ 52,884  $ 63,443  $ 49,627  $ 28,511  $ 946  $ 247,181  Amortization (8,936) (9,181) (14,907) (7,471) (1,474) (946) (42,915) Costs applicable to sales $ 42,834  $ 43,703  $ 48,536  $ 42,156  $ 27,037  $ —  $ 204,266  Inventory Adjustments (900) (164) (372) (339) (131) — (1,906) Acquired inventory purchase price allocation (27,040) (27,040) By-product credit — — — (36) (1,608) — (1,644) Adjusted costs applicable to sales $ 14,894  $ 43,539  $ 48,164  $ 41,781  $ 25,298  $ —  $ 173,676  Metal Sales Gold ounces 9,607  22,713  14,713  22,205  20,078  —  89,316  Silver ounces 923,723  1,636,386  1,282,010  —  50,034  —  3,892,153  Zinc pounds —  —  Lead pounds —  —  Revenue Split Gold 48  % 46  % 51  % 100  % 100  % Silver 52  % 54  % 49  % —  % Zinc —  % Lead —  % Adjusted costs applicable to sales Gold ($/oz) $ 744  $ 882  $ 1,670  $ 1,882  $ 1,260  $ 1,330  Silver ($/oz) $ 8.38  $ 14.37  $ 18.41  $ —  $ 14.28  Zinc ($/lb) $ —  $ —  Lead ($/lb) $ —  $ —  27 Reconciliation of Costs Applicable to Sales for Three Months Ended December 31, 2024 In thousands (except metal sales, per ounce or per pound amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $ 55,032  $ 67,406  $ 48,195  $ 23,665  $ 799  $ 195,097  Amortization (9,550) (15,858) (8,547) (1,607) (799) (36,361) Costs applicable to sales $ 45,482  $ 51,548  $ 39,648  $ 22,058  $ —  $ 158,736  Inventory Adjustments (76) (1,190) (182) (56) — (1,504) By-product credit — — 43 (1,680) — (1,637) Adjusted costs applicable to sales $ 45,406  $ 50,358  $ 39,509  $ 20,322  $ —  $ 155,595  Metal Sales Gold ounces 22,353  14,824  25,839  22,539  85,555  Silver ounces 1,596,875  1,570,448  54,000  —  3,221,323  Zinc pounds —  —  Lead pounds —  —  Revenue Split Gold 44  % 44  % 100  % 100  % Silver 56  % 56  % —  % Zinc —  % Lead —  % Adjusted costs applicable to sales Gold ($/oz) $ 894  $ 1,495  $ 1,529  $ 902  $ 1,192  Silver ($/oz) $ 15.92  $ 17.96  $ —  $ 16.93  Zinc ($/lb) $ —  $ —  Lead ($/lb) $ —  $ —  Reconciliation of Costs Applicable to Sales for Three Months Ended September 30, 2024 In thousands (except metal sales, per ounce or per pound amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $ 59,439  $ 49,640  $ 45,711  $ 34,198  $ 794  $ 189,782  Amortization (11,984) (10,231) (7,612) (2,419) (794) (33,040) Costs applicable to sales $ 47,455  $ 39,409  $ 38,099  $ 31,779  $ —  $ 156,742  Inventory Adjustments (572) (536) 50 (119) — (1,177) By-product credit — — 12 (1,332) — (1,320) Adjusted costs applicable to sales $ 46,883  $ 38,873  $ 38,161  $ 30,328  $ —  $ 154,245  Metal Sales Gold ounces 28,655  9,186  24,800  34,272  —  96,913  Silver ounces 1,860,976  1,098,407  —  45,118  —  3,004,501  Zinc pounds —  —  Lead pounds —  —  Revenue Split Gold 50  % 41  % 100  % 100  % Silver 50  % 59  % —  % Zinc —  % Lead —  % Adjusted costs applicable to sales Gold ($/oz) $ 818  $ 1,735  $ 1,539  $ 885  $ 1,113  Silver ($/oz) $ 12.60  $ 20.88  $ —  $ 15.67  Zinc ($/lb) $ —  $ —  Lead ($/lb) $ —  $ —  28 Reconciliation of Costs Applicable to Sales for Updated 2025 Guidance In thousands (except metal sales and per ounce amounts) Las Chispas Palmarejo Rochester Kensington Wharf Costs applicable to sales, including amortization (U.S. GAAP) $ 158,700  $ 235,309  $ 269,238  $ 218,752  $ 124,863  Amortization (50,909) (39,018) (73,221) (38,994) (6,527) Costs applicable to sales $ 107,791  $ 196,291  $ 196,017  $ 179,758  $ 118,336  By-product credit —  —  —  —  (4,257) Adjusted costs applicable to sales $ 107,791  $ 196,291  $ 196,017  $ 179,758  $ 114,079  Metal Sales Gold ounces 56,000 100,400 60,100 103,700 96,800 Silver ounces 5,443,000 6,513,000 6,192,000 127,000 Revenue Split Gold 49% 48% 47% 100% 100% Silver 51% 52% 53% Adjusted costs applicable to sales Gold ($/oz) $850 - $950 $890 - $960 $1,550 - $1,650 $1,700 - $1,800 $1,125 - $1,225 Silver ($/oz) $9.25 - $10.25 $15.00 - $16.00 $17.00 - $18.50 Reconciliation of Costs Applicable to Sales for Previous 2025 Guidance In thousands (except metal sales and per ounce amounts) Las Chispas Palmarejo Rochester Kensington Wharf Costs applicable to sales, including amortization (U.S. GAAP) $ 144,729  $ 245,767  $ 275,743  $ 222,569  $ 130,856  Amortization (45,992) (38,779) (75,033) (43,903) (7,105) Costs applicable to sales $ 98,737  $ 206,988  $ 200,710  $ 178,666  $ 123,751  By-product credit —  —  —  —  (2,824) Adjusted costs applicable to sales $ 98,737  $ 206,988  $ 200,710  $ 178,666  $ 120,927  Metal Sales Gold ounces 52,000 100,018 68,000 104,271 95,454 Silver ounces 5,240,757 6,006,911 7,752,237 94,138 Revenue Split Gold 48% 50% 44% 100% 100% Silver 52% 50% 56% Adjusted costs applicable to sales Gold ($/oz) $850 - $950 $950 - $1,150 $1,250 - $1,450 $1,700 - $1,900 $1,250 - $1,350 Silver ($/oz) $9.25 - $10.25 $17.00 - $18.00 $14.50 - $16.50 29