Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (October 2026)
44 slides from Hycroft Mining's investor presentation, Oct 27, 2026
Slide 1: Unlocking one of the world's largest precious metals deposits
NASDAQ | HYMC ——————————————_ OCT. 2026 ‘ hycroftmining.com UNLOCKING ONE OF Sey THE WORLD'S LARGEST ' PRECIOUS METALS DEPOSITS x : a, DISTRICT-SCALE OPPORTUNITY IN A TIER-1 \ JURISDICTION, POISED FOR THE NEXT CHAPTER —_— + = &S HYCROFT ‘s REIMAGINE | TRANSFORM #QELIVER a
Slide 2: Disclaimer
~~ te NASDAQ | HYMC% ss. DISCLAIMER: Financial Projections This presentation contains financial forecasts regarding certain financial metrics of the Company. These projections should not be relied upon as necessafily indicative of future results. The independent auditor of the Company has not audite
Slide 3: Key Highlights
hag, Y, tee — KEY HIGHLIGHTS - le NASDAQ | HYMC% 1 Hycroft Overview 2 Geology & Exploration 3 Underground Development 4 Open-pit Development 5 Heap Leach Re-start 6 Corporate Overview
Slide 4: Hycroft Overview
HYCROFT OVERVIEW
Slide 5: Why Invest
WHY INVEST. a a NASDAQ | HYMC' WORLD-CLASS SCALE Among the world's largest gold and silver deposits TOP MINING JURISDICTION Nevada, USA, a Tier-1 jurisdiction STRONG LIQUIDITY US$211M Cash and No Debtt MEANINGFUL LEVERAGE Significant leverage to rising gold and silver commodity prices EXPLORATION UP
Slide 6: Nevada = the world's top mining jurisdiction
NEVADA = THE W ORLD’S TOP MINING JU ee: ICTION? Sen Nevada is consistently ranked #1 in Fraser Institute Investment Attractiveness Survey Nevada leads the nation with the largest mining program in lower 48 states? 40+ Operating gold mines 100+ Active mining operations (various minerals) 280+ Active
Slide 7: Hycroft in Numbers
HYCROFT IN NUMBERS NASDAQ | HYMC SILVER OR GOLD EQUIVALENT HIGH-GRADE SILVER M&I RESOURCES DOMAINS M&I23 $211M cash & $0 Sihcesies 90.218 299 ES GRADE (g/t) 154.71 0.51 1.8B AgEq'!or 24M AuEq! TRADING AT A SIGNIFICANT DISCOUNT TO NAV $10.0 m6”
Slide 8: Hycroft World-Class Resources
HYCROFT WORLD-CLASS RESOURCES NABDRG THYME CONTAINED SILVER CONTAINED OUNCES SILVER SILVER EQUIVALENT OUNCES SILVER us EQUIVALENT _ RESOURCE? RESOURCE? z ; 8 sg 2 g 3 8 g 5 510 3 a 3 = zs 8 Msi infeed Msi Inferred CONTAINED GOLD GOLD EQUIVALENT OUNCES GOLD TENSIONS EQUIVALENT RESOURCE? a RESOURCE? &
Slide 9: The Hycroft Mine — A World-Class Asset
THE HYCROFT MINE — A WORLD-CLASS ASSET NASDAQ | HYMC 23km Hycroft Claims Hycroft Patented Claims Hycroft 50% Owned Claims Jungo Road (NV State Rt-49) Union Pacific Rail Line (active) Among the world’s largest precious metals deposits High-grade discoveries at Brimstone and Vortex, and new priority t
Slide 10: Potential high-grade extensions
7 POTENTIAL:HIGH -GRADE EXTENS hi Se ee: NASDAQ | HYMCY Extensive surface mapping Induced Polarity geophysics Soils geochemistry completed High-resolution drone imaging of the high walls and high wall mapping 10
Slide 11: Owned by World's Top Investors
OWNED BY WORLD'S TOP INVESTORS ee OWNERSHIP SUMMARY? KEY MARKET DATA Share Price? $1686 Market Cap? $1.68 ™ 84% Institutional & Insiders 52-Week Range? $2.93-$58.73 Avg Daily Volume? 2,170K 16% Retail Shares Outstanding? 932M — Unrestricted Cash* $211M Fully Diluted 1029M Debt! $NIL TOP SHAREHOLDERS
Slide 12: A new lens reframes the opportunity
Ria ¥s santas = A NEW LENS REFRAMES THE OPPORTUNITY. ___ mesoiay 4 Current leadership - unlocking hidden potential 2 Two new high-grade silver systems identified and being expanded Integrated exploration techniques including induced polarization geophysics, soil and rock chip programs, and detailed
Slide 13: Project advancing towards optimal production pathways
SG ~ y ™~ re ae PROJECT ADVANCING TOWARDS OPTIM TH | NASDAQ:) HYMCN PRODUCTION PATHWAYS UNDER EVALUATION HEAP LEACH RE-START OPTION 1 OPTION 2 OPTION 3 HIGH-GRADE UNDERGROUND AND 5 optimal timing to MINING PRODUCTION 2 SEG! Advance Brimstone and Proven economics on Leveraging shared site, 6 processi
Slide 14: Geology & Exploration
x, GEOLOGY & EXPLORATION
Slide 15: Exploration to underpin value creation
ea ae aS Pan EXPLORATION.TO UNDERPIN VALUE CRE NU Cs, THE OPPORTUNITY: * Known high-grade systems at Brimstone and Vortex remain open in all directions and at depth « Well under 15% of the ~64,000-acre land package has been explored = Drill program is testing both extensions of the known systems and
Slide 16: Brimstone high-grade system
B.A Y 3 BRIMSTONE HIGH “GRADE SYSTEM es, WASDAQ | HYME A Dill resuts reflect only those reported in this press release dated September 9, 2026, along with selected historical dril results relevant The results presented do not represent all historical drilling completed at Hycroft. DRILLING OBJECTIVE
Slide 17: Vortex high-grade system
™~ = WASDAQ | HYMEN A, ~1km Dill resuts reflect only those reported in this press release dated September 9, 2026, along with selected historical dril results relevant The results presented do not represent all historical drilling completed at Hycroft. al DRILLING OBJECTIVES: _ To test the edges and
Slide 18: High-Grade System Highlights
HIGH-GRADE SYSTEM HIGHLIGHTS NASDAQ | HYMC BRIMSTONE SILVER INTERCEPTS VORTEX SILVER INTERCEPTS Hole ID Meters Ag g/t Hole ID. Meters Ag g/t H26D-6167A 55 1,345.27 H26D-6175A 19.6 1,726.72 including 18 4,074.00 including 17 9526.36 H25D-6069 32.4 184.58 H26D-6166 200 460.82 including 42 1,185.25 inc
Slide 19: Underground Development
UNDERGROUND DEVELOPMENT 5
Slide 20: Option 1: High-grade underground mining
ca Cz ‘ie — ° ae OPTION 1 HIGH-GRADE UNDERGROUND ING aeciaesst THE OPPORTUNITY = Advance high-grade ounces forward in the mine life = Up to multi-thousand g/t intercepts over 20-40 meter true widths at Brimstone and Vortex = High-grade silver-bearing domain at Brimstone and Vortex!: 90.2 Moz silver
Slide 21: Initial high-grade silver resource
eee ¥, Say a INITIAL HIGH-GRADE SILVER RESOURCE : wasoaa | wre ra 90.2 Moz Ag! 299 Koz Aut = Brimstone and Vortex remain open along strike and at depth = ~26,000 meters in the 2025-2026 drill program, which are not included in the resource estimate = High-grade ounces are contained within the total
Slide 22: Conceptual underground mine design
Po NASDAQ | HYMC\ CONCEPTUAL. UNDERGROUND MINE DES BRIMSTONE AND VORTEX MINED TOGETHER DEVELOPMENT APPROACH = Two independent declines = Simultaneous development of both systems = Brimstone contributes higher- grade feed = Vortex contributes greater tonnage = Long-hole open stoping, with selective c
Slide 23: Conceptual underground project
CONCEPTUAL UNDERGROUND PROJECT NASDAQ | HYMC DESIGNED FOR SCALEABILITY Brownfield status leads to extensive infrastructure in situ to accelerate development UNDERGROUND ORE > | CRUSH & GRIND > | FLOTATION > | POTENTAL CONCENTRATE Brimstone + Vortex Producing high-grade Evaluating third-party concent
Slide 24: Open-Pit Development
—— mh... 5 & 4 Ae A OPEN-PIT DEVELOPMENT ‘Ore. : AGN. \ , Fei! AD sitions a
Slide 25: Option 2: Open-pit mining and processing
Ra %: pete = OPTION 2| OPEN-PIT MINING AND PROCESSING _ wasohay wrath THE OPPORTUNITY: = Multi-decade mine life at scale, one of the largest gold-silver deposits globally = PEA on POX processing of the sulfide resource outlines attractive economics with significant leverage to rising gold and silver
Slide 26: Technical Report (PEA)
TECHNICAL REPORT (PEA) ponies = ~ NASDAQ | HYMC' CONVENTIONAL POX PROCESSING PROVES ATTRACTIVE ECONOMICS VALUE LEVERAGE $4.3 Billion (after-tax NPVs)? $10.0 Billion (after-tax NPVs)? 16.9% IRR 30.1% IRR MULTI-DECADE UPSIDE 51-year mine life 6.8M oz not included in mine 295,000 oz avg. annual product
Slide 27: Multi-decade cash flow generation
MULTI-DECADE CASH FLOW GENERATION NABOXD TYME POST-TAX CASH FLOW PROFILE ($M) 1800 20000 1600 CUMULATIVE CASH FLOW +$16B Generated over the life of mine at base case metal prices? 1400 6 -—* -5000 POV OPTS TPE 9A Se AE TOLLEY SS OEDOLEVYEBEDBDOY OOVSE DODO Period fmm Silver Revenue $M (LHS) mall Gol
Slide 28: TRS confirms unique leverage to metal prices
TRS CONFIRMS UNIQUE LEVERAGE TO METAL PRICES sg POST-TAX LEVERAGE TO GOLD AND SILVER PRICES $60 $50 $30 US$ BILLIONS. GOLD SENSITIVITY For every $100 increase in NPV at 5% gold price per ounce, NPV; increases by NPV at 0% wuss 03 : ~$300 million $29.6 $22.6 ae $140 Sind SILVER SENSITIVITY i 4 $11.5
Slide 29: De-risked brownfield development
Ria. DE-RISKED BROW PAST PRODUCING MINE WITH SIGNIFICANT INFRASTRUCTURE ALREADY ON SITE 1. Source: S-K 1300 Tect hnical Report Summary (May 14, SITE SERVICES ON-SITE OPERATIONS TEAM Site is already serviced with Experienced operations team roads, power, and an active in place managing site rail line
Slide 30: Current infrastructure
owe . CURRENTINFRASTRUCTURE eS NASDAQ | HYMC* ONSITE LAB, ADMIN, MAINTENANCE, TRUCK SHOP, WAREHOUSE CRUSHER AND CONVEYOR BELT CIRCUIT 30
Slide 31: Current infrastructure
!: Tae, ys his, Se bo CURRENTINFRASTRUCTURE ~ : NASDAQ | HYMO NEW LEACH PAD - PERMITTED AND AVAILABLE FOR ORE LOADING UNION PACIFIC RAIL LINE AND JUNGO ROAD 4 s
Slide 32: Current infrastructure
n one 7 " es ae CURRENT'INFRASTRUCTURE es NASDAQ | HYMC® BRIMSTONE MERRILL-CROWE PROCESSING FACILITY NORTH MERRILL-CROWE PROCESSING FACILITY 4 2
Slide 33: Heap Leach Re-start
Slide 34: Re-starting existing heap leach processing
=" : '~s ~~ : a RE-STARTING EXISTING HEAP LEACH PROCESSING ae THE OPPORTUNITY: = Historical 2019-2021 operating history = Assessing the economic viability of the historical leach material as part of the broader development plan = Existing pads on site are available: North/Jungo, Brimstone = RC drill
Slide 35: Corporate Overview
Slide 36: The Team
Bs, «Ae THE TEAM ; ™~ = NASDAQ | HYMC™ DIANE R. GARRETT Executive Chairman & CEO Formerly Romarco Minerals, US Global Investors STANTON RIDEOUT EVP & Chief Financial Officer Formerly Romarco. Minerals, Phelps Dodge MICHAEL DEAL EVP & Chief Operating Officer Formerly First Majestic, Nevada Gold Mines
Slide 37: The Board
™~ = NASDAQ | HYMC’ THE BOARD... DIANE R. RICHARD. MARCELO. SEAN MICHAEL GARRETT O'BRIEN GODOY GOODMAN HARRISON Executive Chairman & CEO Lead Independent Director Independent Director Independent Director Independent Director Formerly Romarco Former CEO, CFO of EVP and Chief Technology CFO of AMC; F
Slide 38: Appendix
APPENDIX
Slide 39: P/NAV Benchmarking
P/NAV BENCHMARKING SILVER PRODUCERS First Majestic TN 1.78 Heda NN 1.51 Fresnilo A 1.29. Cocur SNNLNN 1.14x AyaGold& Silver SEIN 0,28 Endeavour Silver ENN 0.81 Hochschild SIN 0.70% Fortuna MEN 06% Santacruz EEE 0.41% ‘Americas Gold & ‘Ser SM O.SBx Silvercorp MEN 0.57% ‘Andean Precious Metals MM 0.55
Slide 40: Resource Benchmarking
RESOURCE BENCHMARKING NASDAQ | HYMC SILVER PRODUCERS (Moz AgEq) Fresnillo NNN 5,607 Heda MEME 2.345 Hochschild MNNEEY 1,603 First Majestic MME 1.104 Endeavour Silver Ml 757 AyaGold& Silver Ml 549 Silvercorp Ml S37 ‘Americas Gold & Silver SILVER DEVELOPERS (Moz AgEq) Hyco’ I 230 New Pacific (EIN 847
Slide 41: Largest Silver Projects
LARGEST SILVER PROJECTS NASDAQ | HYMC PRIMARY SILVER PROJECTS; Moz Ag M+I+I 696 591 558 347 299 299 253 215 22 197 180 Hycroft Endeavour Discovery Silver Sun Silver Silver Eloro New Pacific New Pacific AbraSilver Vizsla Silver _ Silver Mines (Hycroft Mine) Silver(la_ (Cordero) (Maverick Opportunity
Slide 42: Production Profile
PRODUCTION PROFILE NASDAQ | HYMC Conventional open pit operation Throughput of 57,100 ton/d Low strip ratio of 1.55 ROM will feed two processing facilities ® Flotation mill followed by POX and leaching of concentrate ™ Heap leach for mineralization that is amenable to direct cyanide leaching Average
Slide 43: 2026 Mineral Resource Estimate
2026 MINERAL RESOURCE ESTIMATE ee As of January 21, 2026, Metric Units at $3,100/ oz Au and $36/ oz Ag Heap Leach Resource Measured $2.07 - $4.00 0.027 - 0.055 84,364 0.164) 380 1.83 446 indicated $2.07 - $4.00 0.027 - 0.055 100,131 0147] 295 1.54 475 Meas+ind | $2.07-$4.00 0.027 -0.055 teqa9s [aiss
Slide 44: Initial High-Grade Silver Resource
INITIAL HIGH-GRADE SILVER RESOURCE eibecoalaals High-grade Silver Bearing Domains, Contained within the Mineral Resource at 68.57 g/t (2 0z/ton) Cutoff Grade, Metric U1 Contained Ounces Cutoff Classification Ktonnes Gold Silver Grade Silver g/t zx 1000 | Ozx 1000 Brimstone Measured 68.57 2,899 0.372
Hycroft Mining Holding — Investor Presentation (October 2026) on 6ix