Hecla Mining Company · NYSE:HL

Hecla Mining — Investor Presentation (November 2025)

69 slides from Hecla Mining's investor presentation, November 2025

  1. Slide 1: November 2025 Update

    Largest Silver Producer in the U.S. and Canada NOVEMBER 2025 UPDATE RESPONSIBLE. SAFE. INNOVATIVE.

  2. Slide 2: Cautionary Statements

    HECLA MINING COMPANY Cautionary Statements NYSE: HL NOVEMBER 2025 UPDATE Cautionary Statement Regarding Forward-Looking Statements, Including 2025 Outlook Qualified Person (QP) This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as

  3. Slide 3: Solid Foundation, Positioning for the Future

    HECLA MINING COMPANY Solid Foundation, Positioning for the Future NYSE: HL NOVEMBER 2025 UPDATE Silver Legacy  Oldest silver company on the NYSE with 134 years of history Best Jurisdictions  All operations located in the U.S. and Canada Silver Focused  Peer leading silver exposure in revenue and

  4. Slide 4: Our Asset Portfolio: Low Risk Jurisdictions

    HECLA MINING COMPANY Our Asset Portfolio: Low Risk Jurisdictions NYSE: HL NOVEMBER 2025 UPDATE 2024 U.S. Silver Production Yukon Connaught, Dawson, Yukon Rackla, Mayo, Yukon Keno Hill, Mayo, Yukon Hecla, 37% Alaska Greens Creek, Admiralty Island, Alaska Other, 63% Québec Opinaca / Wildcat, James Bay

  5. Slide 5: Why Invest in Hecla? Industry Leading Reserve Mine Life

    HECLA MINING COMPANY Why Invest in Hecla? Industry Leading Reserve Mine Life NYSE: HL NOVEMBER 2025 UPDATE 18 18 17 Mines sorted by highest Colored - Primary Silver Mines Jacobina to lowest 2Q25 Gross Uncolored - Primary Gold Mines 16 Profit left to right 16 Lucky Friday 16 Keno Hill Rochester 14 He

  6. Slide 6: Why Invest in Hecla? Undervalued to Peer Group

    HECLA MINING COMPANY Why Invest in Hecla? Undervalued to Peer Group NYSE: HL NOVEMBER 2025 UPDATE Undervalued Portfolio Hecla is the best value investment in the mid-cap silver space  Trades at ~$17.52 per silver equivalent ounce of reserves, 2.50x amongst the lowest of peers. AG  Trading at ~1.77

  7. Slide 7: Why Invest in Hecla? Potential to Recapture Premium

    HECLA MINING COMPANY Why Invest in Hecla? Potential to Recapture Premium NYSE: HL NOVEMBER 2025 UPDATE 3.00x 100% HL prem./disc. HL-US Silver 80% Potential to re-rate 2.50x Silver P/NAV premium/discount 60%  Historical premium P/NAV 2.00x valuation to peer group* Price / NAV 40% 20%  Hecla Last 10

  8. Slide 8: Largest U.S./Canada Reserve Base With Highest Grades

    HECLA MINING COMPANY Largest U.S./Canada Reserve Base With Highest Grades NYSE: HL NOVEMBER 2025 UPDATE Hecla and Peers: Silver Reserves and Reserve Grade Total Silver Equivalent Ounces (Moz) 2nd highest silver reserve grades, with the largest Silver Reserves (Moz) - 50 100 150 200 250 300 350 400 r

  9. Slide 9: Low-cost Profile Silver Assets

    HECLA MINING COMPANY Low-cost Profile Silver Assets NYSE: HL NOVEMBER 2025 UPDATE 2024 Actual AISC(4): Hecla Is Strongly Positioned at the Lower End of the Silver Cost Curve $/oz AISC Silver Peers* Hecla $24.75 $23.88 $21.11 $19.43 $18.70 $14.38 $13.06 Silver Production (Kt) - 20,000 40,000 60,000 8

  10. Slide 10: Capital Allocation: Disciplined Strategy Driving Value Creation

    HECLA MINING COMPANY NYSE: HL Capital Allocation: Disciplined Strategy Driving Value Creation NOVEMBER 2025 UPDATE Safety & Deleveraging, Sustaining Shareholder Environmental Growth Capital Exploration Balance Sheet Excellence Capital Strength Returns - 10 - 15% 10 - 12% Asymmetric Potential 5 - 7%

  11. Slide 11: Committed To Responsible Mining

    HECLA MINING COMPANY Committed To Responsible Mining NYSE: HL NOVEMBER 2025 UPDATE 2024 All-Injury Frequency Rate of 1.86 (*)  Introduced a program focused on safety values: Safety 365 – Work Safe, Home Safe 44,736 hours of safety and health training for Small environmental footprint employees and

  12. Slide 12: Our Operations

    OUR OPERATIONS Silver mines are in the best third of cost curve RESPONSIBLE. SAFE. INNOVATIVE. 12

  13. Slide 13: Performance Overview – Last Five Quarters

    HECLA MINING COMPANY Performance Overview – Last Five Quarters NYSE: HL NOVEMBER 2025 UPDATE Dollars in thousands unless otherwise stated 3Q-2025 2Q-2025 1Q-2025 4Q-2024 3Q-2024 Silver Production (oz.) 4,590,276 4,520,510 4,112,394 3,874,344 3,645,004 Gold Production (oz.) 40,654 45,895 34,232 35,72

  14. Slide 14: Greens Creek: Cornerstone Mine, Foundation Of Our Future

    HECLA MINING COMPANY Greens Creek: Cornerstone Mine, Foundation Of Our Future GREENS CREEK NYSE: HL NOVEMBER 2025 UPDATE Metals Location Reserve Mine Plan 2024 Economic Impact Ag, Au, Pb, Zn, Cu Alaska 12 Years $266M Ag Reserves & Resources Cumulative Free Cash Flow(1) (Billions $) As of December 31

  15. Slide 15: Greens Creek: Continuous Improvement Since Acquisition

    HECLA MINING COMPANY Continuous Improvement Since Acquisition NYSE: HL GREENS CREEK NOVEMBER 2025 UPDATE Mill Throughput Focused on Quality over Quantity Silver/Gold Mill Recoveries, 2008 – Q3 2025 Tons per Day % 9% increase in silver recoveries, Recent shift of focus and 15% increase in gold on qua

  16. Slide 16: Lucky Friday: 2nd Cornerstone Mine

    HECLA MINING COMPANY Lucky Friday: 2nd Cornerstone Mine NYSE: HL LUCKY FRIDAY NOVEMBER 2025 UPDATE Metals Location Reserve Mine Plan 2024 Economic Impact Ag, Pb, Zn Idaho 17 Years $171M Ag Reserves & Resources Silver Production As of December 31, 2024 (Moz) ~2x 50 by Decade* (Projected) P&P : 72 Moz

  17. Slide 17: Underhand Closed Bench (UCB) Method

    HECLA MINING COMPANY Underhand Closed Bench (UCB) Method NYSE: HL LUCKY NOVEMBERFRIDAY 2025 UPDATE Large-scale blasting proactively helps manage seismic risk and increases throughput More innovative: uses Safer: miners work advanced drilling and blasting below engineered techniques to fragment the b

  18. Slide 18: Keno Hill: Largest Silver Producer In Canada

    HECLA MINING COMPANY Keno Hill: Largest Silver Producer In Canada NYSE: HL KENO HILL NOVEMBER 2025 UPDATE Metals Location Reserve Mine Plan 2024 Economic Impact Ag, Pb, Zn Yukon 16 Years $179M Ag Reserves & Resources Projected Cash Flow at 440 TPD As of December 31, 2024 P&P : 64 Moz $125 $100 M&I :

  19. Slide 19: Path to Profitability at 440 Tons Per Day

    HECLA MINING COMPANY Path to Profitability at 440 Tons Per Day NYSE: HL KENO HILL NOVEMBER 2025 UPDATE Key Consistent 440 tons per day Requirements Q3 2025 Mill Throughput Infrastructure  Reliable power supply Silver production of 898.3 Koz at Requirements  Cemented tails batch plant to transition

  20. Slide 20: Casa Berardi: Strong Cash Generation Driving Strategic Options

    HECLA MINING COMPANY NYSE: HL Casa Berardi: Strong Cash Generation Driving Strategic Options CASA BERARDI NOVEMBER 2025 UPDATE Metals Location Reserve Mine Plan 2024 Economic Impact Au Quebec 12 Years $259M Au Reserves & Resources As of December 31, 2024  Strategic Review Update:  Received multipl

  21. Slide 21: Discovering And Expanding Resources

    HECLA MINING COMPANY Discovering And Expanding Resources NYSE: HL NOVEMBER 2025 UPDATE $28M Greens Creek ($9M) Exploration Budget for 2025, Focus on resource expansion and focused on Greens Creek and conversion to expand and upgrade multiple ore Keno Hill, with significant zones investment in Nevada

  22. Slide 22: Nevada: Exploration Update Pending

    HECLA MINING COMPANY Nevada: Exploration Update Pending NYSE: HL NOVEMBER 2025 UPDATE Unlock hidden value in Nevada Operating History:  Midas: 2.2 Moz gold, 27.0 Moz silver historically at 0.5 oz/ton gold equivalent; fully permitted mill with tailings capacity.  Hollister: 0.5 Moz gold equivalent

  23. Slide 23: Financial Review

    FINANCIAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 23

  24. Slide 24: Third Quarter Financial Highlights

    HECLA MINING COMPANY Third Quarter Financial Highlights NYSE: HL NOVEMBER 2025 UPDATE Q3/25 Revenues By Metal Net Debt – Last Twelve Months Siver accounts for 47% of revenues in millions $ Silver Gold Lead Zinc 523.8 545.0 10% 6% Q3 2025 Revenue 47% 268.2 $393.4M* 37% 143.8 Q4 2024 Q1 2025 Q2 2025 Q

  25. Slide 25: Q3 Financial Highlights and Capital Allocation

    HECLA MINING COMPANY Q3 Financial Highlights and Capital Allocation NYSE: HL NOVEMBER 2025 UPDATE 1.6 10% $506 1.4 Q3 6% Net Debt to 1.2 Revenues $393M* Adjusted EBITDA $399 1 0.7x 48% ($ millions) Adjusted 0.8 Silver accounts EBITDA (1) 0.6 for 48% of Q3 Net leverage 0.3x 37% 0.4 revenues Silver ra

  26. Slide 26: Hecla at a Glance

    HECLA MINING COMPANY Hecla at a Glance NYSE: HL NOVEMBER 2025 UPDATE Company Overview Ownership Overview2 Headquarters Coeur d’Alene, Idaho Stock Ticker NYSE: HL 25% Common Shares 669.99M Retail Outstanding Institutional Market Capitalization $9.081 ($ billion) 75% Dividend (paid quarterly) $0.00375

  27. Slide 27: Exploration

    EXPLORATION RESPONSIBLE. SAFE. INNOVATIVE. 27

  28. Slide 28: Nevada – Midas: Visible Gold at Two New Targets; Aurora Added to Fast 41

    Nevada – Midas: Visible Gold at Two New Targets; Aurora Added to Fast 41 HECLA MINING COMPANY NYSE: HL Strong early results from Pogo and Sinter target areas NOVEMBER 2025 UPDATE Proven and Probable Measured and Indicated Inferred Silver 2025 Production Proven and Probable Measured and Indicated Inf

  29. Slide 29: Midas – Discovery Update: Visible Gold Expands Target Pipeline

    Midas – Discovery Update: Visible Gold Expands Target Pipeline HECLA MINING COMPANY NYSE: HL Expanded drilling program in Q3-Q4 for follow-up offset drilling NOVEMBER 2025 UPDATE Proven and Probable Measured and Indicated Inferred Silver 2025 Production Proven and Probable Measured and Indicated Inf

  30. Slide 30: Nevada – Midas Discovery Success Validates District-Scale Resource Growth

    Nevada – Midas Discovery Success Validates District-Scale Resource HECLA MINING COMPANY NYSE: HL Growth NOVEMBER 2025 UPDATE 1. Discovery Momentum • Visible gold intersected at 2 new targets (Pogo & Sinter Offset) • Systematic approach validated: 5 targets tested, structures confirmed at 4 • Early-s

  31. Slide 31: Greens Creek – Extending Mineralization Underground While Advancing Surface Exploration

    Greens Creek – Extending Mineralization Underground While Advancing HECLA MINING COMPANY NYSE: HL Surface Exploration NOVEMBER 2025 UPDATE Proven and Probable Measured and Indicated Inferred Silver 2025 Production Proven and Probable Measured and Indicated Inferred SEO 2025 Exploration Silver Reserv

  32. Slide 32: Greens Creek – Gallagher Zone: 550-Foot Extension

    Greens Creek – Gallagher Zone: 550-Foot Extension Demonstrates HECLA MINING COMPANY NYSE: HL Resource Growth Potential NOVEMBER 2025 UPDATE Proven and Probable Measured and Indicated Inferred Silver 2025 Production Proven and Probable Measured and Indicated Inferred SEO 2025 Exploration Silver Reser

  33. Slide 33: Greens Creek – Extending Mineralization In Multiple Zones

    HECLA MINING COMPANY Greens Creek – Extending Mineralization In Multiple Zones NYSE: HL NOVEMBER 2025 UPDATE 1. Expanding Underground Mineralization • Gallagher: Extended mineralization 550 feet from existing resource • Best intercept: 3.6 ‘ @ 31. oz/ton silver, 5.8% zinc, and 3.1% lead • 200S Zones

  34. Slide 34: Keno Hill – Potential New Bermingham Ore Shoot Discovered

    HECLA MINING COMPANY Keno Hill – Potential New Bermingham Ore Shoot Discovered NYSE: HL NOVEMBER 2025 UPDATE Proven and Probable Measured and Indicated Inferred Silver 2025 Production Proven and Probable Measured and Indicated Inferred SEO 2025 Exploration Silver Reserves Silver Resources Resources

  35. Slide 35: Keno Hill – Bermingham Discovery: High-Grade Intercepts

    Keno Hill – Bermingham Discovery: High-Grade Intercepts Indicates New HECLA MINING COMPANY NYSE: HL Ore Shoot NOVEMBER 2025 UPDATE Proven and Probable Measured and Indicated Inferred Silver 2025 Production Proven and Probable Measured and Indicated Inferred SEO 2025 Exploration Silver Reserves Silve

  36. Slide 36: Keno Hill – Discovery Success Continues Adding Mineralization

    HECLA MINING COMPANY Keno Hill – Discovery Success Continues Adding Mineralization NYSE: HL NOVEMBER 2025 UPDATE 1. New High-Grade Discovery • Potential new Bermingham ore shoot identified 500’ from existing reserve • Best Intercept: 12.5’@40.4 oz/ton silver, 3.8% zinc, and 3.1% lead • Multiple high

  37. Slide 37: Montana: 330 Moz Silver | 2.8B lbs Copper

    Montana: 330 Moz Silver | 2.8B lbs Copper – 3rd Largest HECLA MINING COMPANY NYSE: HL Undeveloped Copper Deposit in U.S. NOVEMBER 2025 UPDATE Located 50 miles from Lucky Friday Working to advance underground data with great exploration potential collection and permitting Permitting strategy - Overvi

  38. Slide 38: Appendix

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 38

  39. Slide 39: Guidance – Strong Silver Margins, Cost Guidance Lowered

    HECLA MINING COMPANY Guidance – Strong Silver Margins, Cost Guidance Lowered NYSE: HL NOVEMBER 2025 UPDATE Silver Production (Moz) Gold Production (Koz) Silver Equivalent (Moz)6 Gold Equivalent (Koz)6 Greens Creek * 8.4 – 8.8 53 – 55 18.5 – 19.0 195 – 200 2025 Production Lucky Friday * 4.9 – 5.1 N/A

  40. Slide 40: Silver Market

    SILVER MARKET RESPONSIBLE. SAFE. INNOVATIVE. 40

  41. Slide 41: The World’s Growing Needs For Silver

    HECLA MINING COMPANY The World’s Growing Needs For Silver NYSE: HL NOVEMBER 2025 UPDATE Five distinct periods of silver demand, three that Despite decrease in photographic demand, total are strengthening demand increased 30%, or 269Moz due to the increase in industrial and investment demand  Moneta

  42. Slide 42: Silver Supply And Demand

    HECLA MINING COMPANY Silver Supply And Demand NYSE: HL NOVEMBER 2025 UPDATE 2024 SILVER DEMAND: 1,164 Moz 2024 SILVER SUPPLY: 1,015 Moz Other 3% Jewelry and Recycling Silverware Photo Mine Prod. - Other voltaics 19% Primary Silver 23% 25% 29% 23% Brazing Alloys Investment 49% Electronics Mine Prod.

  43. Slide 43: Silver Deficit Is Expected To Continue

    HECLA MINING COMPANY Silver Deficit Is Expected To Continue NYSE: HL NOVEMBER 2025 UPDATE Moz $/oz $38 1,200 $34 700 1,284 1,199 1,164 1,148 $30 1,102 993 973 1,001 1,006 929 200 $26 $22 300 1,025 1,014 1,016 974 1,023 1,035 998 1,015 1,031 1,057 $18 800 $14 Demand Supply Net Market Position Silver

  44. Slide 44: Solar Will Be The Largest Source Of Electricity

    HECLA MINING COMPANY Solar Will Be The Largest Source Of Electricity NYSE: HL NOVEMBER 2025 UPDATE 1 Gigawatt (GW) of solar capacity requires 0.45Moz of silver U.S. Electricity Generation Sources: 2000-2050 2022 Solar projected to be 33% of total Gigawatt history | projections U.S. energy generation

  45. Slide 45: More Efficient PV Technologies Use More Silver

    More Efficient Photovoltaic (PV) Technologies Use More Silver And HECLA MINING COMPANY NYSE: HL Are Gaining Market Share NOVEMBER 2025 UPDATE Silver Content in PV Technologies Market Share of PV Technologies Mg Silver/Watt Higher silver using technologies are gaining 22 market share PV Installations

  46. Slide 46: Environmental, Social, Governance

    Environmental, Social, Governance Our sustainable ESG Corporate Governance responsibilities RESPONSIBLE. SAFE. INNOVATIVE. 46

  47. Slide 47: Sustainability Rating Agency Scores: Significant Improvements Since 2019

    Sustainability Rating Agency Scores: Significant Improvements HECLA MINING COMPANY NYSE: HL Since 2019 NOVEMBER 2025 UPDATE Agency Progression in ESG Scores  Overall Score increased from 53rd 38 40 39 percentile to 77th percentile  Environmental Score increased to 24 83rd percentile 15 13  Social

  48. Slide 48: ESG Performance And Ratings

    HECLA MINING COMPANY ESG Performance And Ratings NYSE: HL NOVEMBER 2025 UPDATE Ranking: 40 Score: 32.1 (0 best, 100 worst) 76th Percentile Industry 56/107, 52nd percentile Subindustry 18/25, 71st percentile Rating: A Rating: C Score: 6.3 Environment: 5 (1 best, 10 worst) Social: 6 (1 best, 10 worst)

  49. Slide 49: Hecla Is Among The Safest Mining Companies

    HECLA MINING COMPANY Hecla Is Among The Safest Mining Companies NYSE: HL NOVEMBER 2025 UPDATE Implemented NMA’s CORESafety standards in 2012, became Industry leader All-Injury Frequency Rate Hecla’s 1.86 rate has seen a 6.06 70% reduction since 2012 5.35 5.41 Industry leading 4.57 70% reduction sinc

  50. Slide 50: Committed To Our Communities

    HECLA MINING COMPANY Committed To Our Communities NYSE: HL NOVEMBER 2025 UPDATE Largest private employer within the Total economic impact in 2024 communities we operate, jobs and benefits that last a lifetime $1B+  Total direct economic impact of over $1 Hecla Corporate Montana billion $130M $2M Gr

  51. Slide 51: End Notes

    HECLA MINING COMPANY End Notes NYSE: HL NOVEMBER 2025 UPDATE 1. Free cash flow is a non-GAAP measure and is calculated as cash flow from operations less additions to property, plant and equipment net of finance leases. Reconciliation to GAAP is shown in the appendix. 2. Net debt to adjusted EBITDA i

  52. Slide 52: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 52

  53. Slide 53: Adjusted EBITDA

    HECLA MINING COMPANY Adjusted EBITDA NYSE: HL NOVEMBER 2025 UPDATE Reconciliation of Net Income (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months Q3 2025 Q2 2025 Dollars in thousands (USD) Net income $ 199,227 $ 100,262 Interest expense 49,839 47,335 Income and mining tax expense 111,652 68,22

  54. Slide 54: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL NOVEMBER 2025 UPDATE Silver Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In Susta

  55. Slide 55: Cash Cost And AISC Reconciliation To GAAP – Greens Creek

    HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL NOVEMBER 2025 UPDATE Greens Creek Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In

  56. Slide 56: Cash Cost And AISC Reconciliation To GAAP – Lucky Friday

    HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL NOVEMBER 2025 UPDATE Lucky Friday Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In

  57. Slide 57: Cash Cost And AISC Reconciliation To GAAP – Casa Berardi

    HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL NOVEMBER 2025 UPDATE Casa Berardi Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In

  58. Slide 58: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY Free Cash Flow (Non-GAAP) Reconciliation NYSE: HL NOVEMBER 2025 UPDATE Q3 2025 Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for All Operations Greens Creek Lucky Friday Keno Hill Casa Berardi in millions Cash provided by operating a

  59. Slide 59: Mineral Reserves and Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 59

  60. Slide 60: Mineral Reserves – 12/31/2024 (1/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (1/4) NOVEMBER 2025 UPDATE Proven Reserves(1) Silver Gold Lead Zinc Silver Gold Lead Zinc Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) Tons Tons Greens 100.0% 9 7.6 0.07 2.4 6.5 70 1 220 600 Creek (2,3) Luc

  61. Slide 61: Mineral Reserves – 12/31/2024 (2/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (2/4) NOVEMBER 2025 UPDATE Probable Reserves(7) Silver Gold Lead Zinc Silver Gold Lead Zinc Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) Tons Tons Greens 100.0% 10,438 9.9 0.08 2.3 6.2 103,641 864 240,450 6

  62. Slide 62: Mineral Reserves – 12/31/2024 (3/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (3/4) NOVEMBER 2025 UPDATE Proven and Probable Reserves Silver Gold Lead Zinc Silver Gold Lead Zinc Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) Tons Tons Greens 100.0% 10,447 9.9 0.08 2.3 6.2 103,771 865 2

  63. Slide 63: Mineral Reserves – 12/31/2024 (4/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (4/4) NOVEMBER 2025 UPDATE 1. The term “reserve” means an estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable proje

  64. Slide 64: Mineral Resources - 12/31/2024 (1/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (1/6) NOVEMBER 2025 UPDATE Measured Resources(9) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) Greens Creek(12,13) 100.0% - -

  65. Slide 65: Mineral Resources - 12/31/2024 (2/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (2/6) NOVEMBER 2025 UPDATE Indicated Resources(10) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) Greens Creek(12,13) 100.0% 7

  66. Slide 66: Mineral Resources - 12/31/2024 (3/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (3/6) NOVEMBER 2025 UPDATE Measured & Indicated Resources Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) Greens Creek(12,13) 1

  67. Slide 67: Mineral Resources - 12/31/2024 (4/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (4/6) NOVEMBER 2025 UPDATE Inferred Resources(11) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) Greens Creek(12,13) 100.0% 1,

  68. Slide 68: Mineral Resources - 12/31/2024 (5/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (5/6) NOVEMBER 2025 UPDATE Note: All estimates are in-situ except for the proven reserves at Greens Creek and Keno Hill which are in surface stockpiles. Stockpile materials make up 26.5k tons of proven reserves at Casa Berardi . Mineral

  69. Slide 69: Mineral Resources - 12/31/2024 (6/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (6/6) NOVEMBER 2025 UPDATE 17. Mineral resources for underground zones at San Sebastian reported at a cut-off value of $158.8/ton ($175/tonne), open pit resources reported at a cut-off value of $72.6/ton ($80/tonne); Metallurgical recov

Hecla Mining Company — Investor Presentation (November 2025) on 6ix