Slide 1: 2021 Fourth Quarter and Full-Year Earnings
2021 Fourth Quarter and Full-Year Earnings 11:00 a.m. ET, February 17, 2022 NYSE: CDE NYSE: CDE 1 JC 2016
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements involving strategic priorities and company strategies, expectations regarding environmental, social and governance (“ESG”) in
Slide 3: Fourth Quarter and Full-Year 2021 Highlights
Fourth Quarter and Full-Year 2021 Highlights • Solid 4Q production results help achieve full-year guidance • Strong cost performance at Palmarejo, Kensington and Wharf • Reported highest annual revenue in nearly a decade • Largest exploration investment in Coeur history drives resource growth
Slide 4: Financial Summary
Financial Summary Years Quarters ($M, except metal sales, adj. EBITDA margin and per share amounts) 2021 2020 YoY ∆ 4Q 2021 3Q 2021 QoQ ∆ 4Q 2020 YoY ∆ Metal Sales Gold ounces sold (oz) 350,347 356,251 (2%) 88,930 89,804 (1%) 97,400 (9%) Silver ounces sold (M oz) 10.1 9.6 5% 2.6 2.5 4% 2.7 (4%) Key
Slide 5: Production & Unit Cost Scorecard
Production & Unit Cost Scorecard Palmarejo Rochester Kensington Wharf Consolidated Gold Production (oz) 2021 Guidance1 100,000 – 110,000 22,500 – 32,500 115,000 – 130,000 85,000 – 95,000 322,500 – 367,500 2021 Actual 109,202 27,051 121,140 91,136 348,529 Status Silver Production (M oz) 2021 Guidance
Slide 6: Overview of 2022E Production Guidance
Overview of 2022E Production Guidance1 Operation Guidance Range Illustrative Production Profile Commentary ~24% ~24% ~26% ~25% • Lower planned mining and throughput rates vs. 2021 Palmarejo 100,000 – 110,000 • Consistent quarter-to-quarter gold grades expected 1Q 2Q 3Q 4Q ~24% ~27% ~29% • Increased
Slide 7: Sustaining a Higher Level of Exploration Investment
Sustaining a Higher Level of Exploration Investment Coeur successfully completed the largest exploration program in its history during 2021. The Company expects to have a lower level of exploration investment in 2022, while maintaining its results-driven focus on high-return targets Total Exploratio
Slide 8: Expanded Reserve and Resource Base
Expanded Reserve and Resource Base Coeur’s 2021 exploration program was highly successful in growing resources via new discoveries. The Company has invested approximately $240 million in exploration over the past five years (73% expansion / 27% infill), contributing to mineralization growth Proven &
Slide 9: Prudently Investing in Organic Growth
Prudently Investing in Organic Growth Capital Expenditures by Mine 2022E Capital Expenditures1 (% companywide total) Site Range Commentary 2% 1% • Underground development and 23% 6% 15% equipment replacements 12% Palmarejo $50M - $55M 3% 9% • Development of an open pit backfill tailings storage faci
Slide 10: Rochester Expansion Update
Rochester Expansion Update1 The Company conducted a re-baselining of the Rochester expansion during the fourth quarter. The new schedule and cost estimate continue to support a fundamental repositioning and anticipated step change for Coeur Project Hallmarks Funding Strategy & Capital Overview $348
Slide 11: Silvertip Update
Silvertip Update • Among the world’s highest-grade silver-zinc-lead deposits • Acquired in late 2017 for approximately $200 million of upfront consideration • Received higher-than-anticipated capital estimates for expansion and restart in 3Q 2021 • Commenced evaluation of a larger potential expa
Slide 12: Balance Sheet and Hedging Summary
Balance Sheet and Hedging Summary Liquidity Profile Debt and Leverage Summary1,2 ($M) ($M) Dec. 31, Sept. 30, Dec. 31, $589 $100 2020 2021 2021 $132 5.875% senior notes due 2024 $227.6 - - $100 5.125% senior notes due 2029 - 368.0 368.3 $300 $257 $57 Revolving credit facility - 20.0 65.0 ($35) $200
Slide 13: Coeur's Capital Allocation Framework
Coeur’s Capital Allocation Framework Mining is capital intensive and requires a disciplined approach to capital allocation with a view toward long-term reserve replacement and growth Illustrative Return Key Benefits Key Considerations Safety/ Reflects the Company’s values Environment/ − Mitigate
Slide 14: Looking Ahead: Key Deliveries for 2022
Looking Ahead: Key Deliveries for 2022 • Maintain focus on rigorous health and safety protocols • Continue to bolster Coeur’s best-in-class ESG initiatives • Remain on-schedule and on budget with re-baselined POA 11 plan • Continue incorporating operational and technical enhancements at Rocheste
Slide 15: 2022 Guidance
2022 Guidance1 Production Outlook Gold (oz) Silver (K oz) Palmarejo 100,000 – 110,000 6,000 – 7,000 Rochester 35,000 – 43,000 3,000 – 4,000 Kensington 110,000 – 120,000 - Wharf 70,000 – 80,000 - Consolidated 315,000 – 353,000 9,000 – 11,000 CAS Outlook2 Gold ($/oz) Silver ($/oz) Palmarejo (co-produc
Slide 16: ESG Highlights
ESG Highlights NYSE: CDE 16 JC 2016
Slide 17: What Matters to Coeur
What Matters to Coeur In 2021, Coeur refreshed its material issues list through a comprehensive double materiality and risk/opportunity approach, incorporating internal and external stakeholder input. The following list includes material environmental, social and governance issues that matter to Coe
Slide 18: Recent ESG Accomplishments
Recent ESG Accomplishments Coeur is committed to being an industry leader in its ESG practices, exemplified by the Company’s recent accomplishments Published GHG emission Mitch Krebs, President & 2021 Winner of Platinum Winner of cfi.co, Best Crain’s Chicago target of 25% reduction CEO, named Vice C
Slide 19: Coeur Diversity Details
Coeur Diversity Details Gender • 12% Female (up from 10% in 2020) Diversity • First and only • 66% Females are Supervisors and above precious metals mining CEO to sign the CEO ACTION for • 20% Promotions YTD have been females Diversity & Inclusion pledge Racial • Day of Diversity Understan
Slide 20: Industry-Leading Safety Performance
Industry-Leading Safety Performance Coeur has been certified in the National Mining Association’s CORESafety program since 2017 and completed its recertification in July 2021 Coeur’s injury frequency rate remains significantly below industry averages, achieving a Company record-low lost-time injury
Slide 21: Key Components of Coeur's Health and Safety Program
Key Components of Coeur’s Health and Safety Program Management of Change Information Management Training Investigation & Controls Management of Change Ensures proper usage and Apply learning techniques, Establish a comprehensive process is utilized to prevent future expansion of current knowledge an
Slide 22: Precious Metals Are Coeur to Everyday Life
Precious Metals Are Coeur to Everyday Life Coeur is an important part of the supply chains for gold and silver. Due to their unique properties, gold and silver have countless innovative uses that shape the way we live today and enable a more sustainable, healthier tomorrow Au Coeur’s Palmarejo, Roch
Slide 23: Appendix
Appendix NYSE: CDE 23 JC 2016
Slide 24: Palmarejo
Palmarejo The Palmarejo gold-silver complex is located in the state of Chihuahua, Mexico, consisting of a legacy open pit mine, current underground mining and processing operations as well as several other deposits and exploration targets Asset Overview Share of Companywide 2022E2 Production Ownersh
Slide 25: Palmarejo (cont.)
Palmarejo (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow $13.34 $12.50 Capital expenditures $10.98 $11.25 $43.2 $9.61 $704 $662 $653 $621 $33.4 $32.9 $542 35 1,843 $23.2 1,783 29 1,708 29 1,603 28 1,667 24 $13.2 $8.9 $10.0 $9.8 $8.5 $8.2
Slide 26: Rochester
Rochester The Rochester mine is an open pit, heap leach silver-gold operation, located in northern Nevada, which is currently undergoing a significant expansion that is expected to drive a step-change in production and cash flow Asset Overview Share of Companywide 2022E2 Production Ownership 100% Go
Slide 27: Rochester (cont.)
Rochester (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $1,787 Operating cash flow $53.9 $1,707 $1,665 $1,537 Capital expenditures $26.09 $42.3 $1,300 $40.1 $22.68 $21.76 $20.18 $30.2 $19.07 $16.8 1,020 888 774 739 757 $4.7 $4.0 10 7 7 7 6 ($8.7) ($9.5) ($
Slide 28: Kensington
Kensington The Kensington mine is an underground gold operation located in southeast Alaska, consisting of the Kensington Main deposit, Raven deposit, Jualin deposit, as well as other nearby deposits and exploration targets Asset Overview Share of Companywide 2022E2 Production Ownership 100% Gold Em
Slide 29: Kensington (cont.)
Kensington (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) $1,150 Operating cash flow2 $1,088 $1,111 Capital expenditures $989 $919 $25.9 $21.0 $18.9 $19.4 33 34 31 28 29 $11.5 $8.0 $7.2 $5.8 $6.0 $6.3 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 4Q 2020 1Q 2021
Slide 30: Wharf
Wharf The Wharf mine is an open pit, heap leach gold operation located in western South Dakota. The property consists of several areas of adjoining gold mineralization, which have been mined as a series of open pits Asset Overview Share of Companywide 2022E2 Production Ownership 100% Gold Employees1
Slide 31: Wharf (cont.)
Wharf (cont.) Production and Cost Performance Operating Cash Flow and Capital Expenditures ($M) Operating cash flow $1,104 Capital expenditures $24.9 $954 $952 $963 $971 $17.3 28 $14.1 24 19 19 20 $7.8 $8.4 $4.2 $1.2 $1.5 $1.4 $1.0 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 4Q 2020 1Q 2021 2Q 2021 3Q 2
Slide 32: Silvertip
Silvertip The Silvertip development project is one of the highest-grade silver-zinc-lead operations in the world. The site is located in northern British Columbia, Canada and sits within a highly prospective land package Asset Overview Ownership 100% Employees1 101 Claims 98,834 net acres Type Under
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations NYSE: CDE 33 JC 2016
Slide 34: Non-GAAP to U.S. GAAP Reconciliation for Guidance
Non-GAAP to U.S. GAAP Reconciliation for Guidance Unaudited Costs Applicable to Sales Guidance for 2022 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Costs applicable to sales, including amortization (U.S. GAAP) $211,800 $148,540 $185,494 $106,175 Amort
Slide 35: Non-GAAP to U.S. GAAP Reconciliation for Guidance (cont.)
Non-GAAP to U.S. GAAP Reconciliation for Guidance (cont.) Unaudited Costs Applicable to Sales Guidance for 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Costs applicable to sales, including amortization (U.S. GAAP) $195,983 $133,836 $181,100 $106,7
Slide 36: Non-GAAP to U.S. GAAP Reconciliation
Non-GAAP to U.S. GAAP Reconciliation Costs Applicable to Sales Unaudited 12 months ended December 31, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $189,717 $151,427 $187
Slide 37: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended December 31, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $48,719 $42,939
Slide 38: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended September 30, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $47,763 $36,34
Slide 39: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended June 30, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $50,189 $44,537 $41
Slide 40: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended March 31, 2021 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $43,047 $27,610 $4
Slide 41: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 12 months ended December 31, 2020 ($ 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) $170
Slide 42: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Costs Applicable to Sales Unaudited 3 months ended December 31, 2020 ($ thousands, except metal sales and per ounce amounts) Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $48,672 $36,828
Slide 43: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Adjusted Net Income (Loss) ($ thousands) 2021 4Q 2021 3Q 2021 2Q 2021 1Q 2021 2020 4Q 2020 Net income (loss) ($31,322) ($10,760) ($54,768) $32,146 $2,060 $25,627 $11,880 Fair value adjustments, net 543 7,543 26,440 (37,239) 3,799 (7,601) (4,110)
Slide 44: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Adjusted EBITDA ($ thousands) 2021 4Q 2021 3Q 2021 2Q 2021 1Q 2021 2020 4Q 2020 Net income (loss) ($31,322) ($10,760) ($54,768) $32,146 $2,060 $25,627 $11,880 Interest expense, net of capitalized interest 16,451 3,211 3,237 5,093 4,910 20,708 4,
Slide 45: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited LTM Adjusted EBITDA ($ thousands) 4Q 2021 3Q 2021 2Q 2021 1Q 2021 4Q 2020 Net income (loss) ($31,322) ($8,682) $72,942 $39,587 $25,627 Interest expense, net of capitalized interest 16,451 17,959 19,818 20,490 20,708 Income tax provision (benefit
Slide 46: Non-GAAP to U.S. GAAP Reconciliation (cont.)
Non-GAAP to U.S. GAAP Reconciliation (cont.) Unaudited Free Cash Flow ($ thousands) 2021 4Q 2021 3Q 2021 2Q 2021 1Q 2021 2020 4Q 2020 Cash flow from operating activities $110,482 $34,936 $21,846 $58,059 ($4,359) $148,709 $67,289 Capital expenditures (309,781) (100,868) (71,266) (78,223) (59,424) (99
Slide 47: Reserves and Resources
Reserves and Resources 2021 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 3,754,000 0.066 4.39 247,000 16,480,000 Rochester Nevada, USA 386,008,000 0.00
Slide 48: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2021 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 3,696,000 0.053 3.89 195,000 14,373,000 Ro
Slide 49: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2021 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 4,713,000 0.052 3.70 246,000 17,453,000 Rochester Nevada, USA 128,410,000 0.0
Slide 50: Reserves and Resources (cont.)
Reserves and Resources (cont.) Notes to 2021 Mineral Reserves: (1) The Mineral Reserve estimates are current as of December 31, 2021 and are reported using the definitions in Item 1300 of Regulation S–K (17 CFR Part 229) (SK1300) and were prepared by the company’s technical staff. (2) Assumed metal
Slide 51: Reserves and Resources (cont.)
Reserves and Resources (cont.) Notes to 2021 Mineral Resources: (1) Mineral Resource estimates are reported exclusive of Mineral Reserves, are current as of December 31, 2021, and are reported using definitions in SK1300 on a 100% ownership basis. Mineral Resource estimates were prepared by the Comp
Slide 52: Reserves and Resources (cont.)
Reserves and Resources (cont.) Notes to 2021 Mineral Resources (cont.): (9) La Preciosa Open Pit Mineral Resource estimate is reported using a net smelter return (“NSR”) cutoff of US$23/tonne and Underground Mineral Resources are reported using a NSR cut-off of $71/tonne. Mineral Resources are repor
Slide 53: Reserves and Resources
Reserves and Resources 2020 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 4,040,000 0.067 4.29 270,000 17,344,000 Rochester Nevada, USA 396,867,000 0.00
Slide 54: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2020 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 1,840,000 0.052 3.67 95,000 6,746,000 Roch
Slide 55: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2020 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 4,345,000 0.064 3.34 280,000 14,525,000 Rochester Nevada, USA 226,049,000 0.0
Slide 56: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) PROVEN RESERVES Palmarejo Mexico 1,571,000 0.073 3.81 115,000 5,978,000 Rochester Nevada, USA 195,724,0
Slide 57: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) MEASURED RESOURCES Palmarejo Mexico 629,000 0.051 3.07 32,000 1,928,000 Roches
Slide 58: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2017 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Zinc (%) Lead (%) Gold (oz) Silver (oz) Zinc (lbs) Lead (lbs) INFERRED RESOURCES Palmarejo Mexico 7,336,000 0.050 4.23 369,000 31,061,000 Rochester Nevada, USA 131,570,000 0.0
Slide 59: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Proven and Probable Mineral Reserves Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) PROVEN RESERVES Palmarejo Mexico 1,569,000 0.080 4.44 126,000 6,971,000 Rochester Nevada, USA 143,686,000 0.004 0.48 503,000 68,369,000 Kensing
Slide 60: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Measured and Indicated Mineral Resources (excluding Reserves) Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) MEASURED RESOURCES Palmarejo Mexico 818,000 0.061 3.20 50,000 2,618,000 Rochester Nevada, USA 39,732,000 0.003 0.59 13
Slide 61: Reserves and Resources (cont.)
Reserves and Resources (cont.) 2016 Inferred Mineral Resources Grade Contained Location Short tons Gold (oz/t) Silver (oz/t) Gold (oz) Silver (oz) INFERRED RESOURCES Palmarejo Mexico 4,726,000 0.055 4.35 258,000 20,540,000 Rochester Nevada, USA 67,778,000 0.003 0.52 178,000 35,554,000 Kensington Ala
Slide 62: Executive Leadership
Executive Leadership Mitchell J. Krebs – President and Chief Executive Officer. During his twenty-year tenure with Coeur, Mr. Krebs has led nearly $2 billion in capital raising and debt restructuring activities and has facilitated over $2 billion of acquisitions and divestitures. Mr. Krebs was previ
Slide 63: Board of Directors
Board of Directors Robert E. Mellor – Independent Chairman of the board of Monro, Inc. (auto service provider) since June 2017, and appointed Interim Chief Executive Officer from August 2020 to April 2021. Previously Mr. Mellor was lead independent director from April 2011 to June 2017 and a member
Slide 64: Board of Directors (cont.)
Board of Directors (cont.) Jessica L. McDonald – Ms. McDonald has extensive leadership experience in both the public and private sectors and currently serves as a member of the Boards of Directors of GFL Environmental Inc. and Hydro One Limited. She served as the President and Chief Executive Office
Slide 65: Contact Information
Contact Information Corporate Office Coeur Mining, Inc. 104 S. Michigan Ave., Suite 900 Chicago, IL 60603 Main Telephone +1 (312) 489-5800 Stock Ticker CDE: NYSE Website www.coeur.com Contact Jeff Wilhoit Director, Investor Relations investors@coeur.com NYSE: CDE 65 JC 2016