Avino Silver & Gold Mines Ltd. · TSX:ASM
Avino Silver & Gold Mines — Q3 2025 Earnings Presentation
23 slides from Avino Silver & Gold Mines's earnings presentation, Nov 7, 2025
Slide 1: A Clear Path to Transformational Growth: Q3 2025 Financial Results
A Clear Path to Transformational Growth Q3 2025 FINANCIAL RESULTS CONFERENCE CALL & WEBCAST NOVEMBER 7, 2025 A CLEAR PATH TO TRANSFORMATIONAL GROWTH The Avino Mine Property
Slide 2: Cautionary Disclaimer: Forward-Looking Statements
A Clear Path to Transformational Growth 2 CAUTIONARY DISCLAIMER: FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking information” and “forward-looking statements” (together, the “forward looking statements”) within the meaning of applicable securities laws and the United States Pr
Slide 3: Today's Speakers
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 3 TODAY’S SPEAKERS DAVID WOLFIN, NATHAN HARTE, PRESIDENT AND CEO CHIEF FINANCIAL OFFICER
Slide 4: Q3 2025 Financial and Operating Performance
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 4 Q3 2025 FINANCIAL AND OPERATING PERFORMANCE Avino Property La Preciosa at Night Full financial statements and MD&A are now available on the website at https://avino.com/investors/financial- statements/ Ongoing Development
Slide 5: Third Quarter – Guided by Key Drivers
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 5 THIRD QUARTER – GUIDED BY 5 KEY DRIVERS 1. Operational Excellence • Our teams at site advanced automation and process upgrades • Reflected in our strong mill performance and sustained throughput • La Preciosa has been exc
Slide 6: Q3 2025 v Q3 2024 Production Results
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 6 Q3 2025 V Q3 2024 PRODUCTION RESULTS 26% 13% 7% 19% Continued elevated mill throughput in Q3 2025 – 21% higher than Q3 2024 Footnotes: 1. In Q3 2025, AgEq was calculated using metal prices of $39.38 per oz Ag, $3,454 per
Slide 7: At La Preciosa: Progressing on Plan
A Clear Path to Transformational Growth 7 AT LA PRECIOSA: PROGRESSING ON PLAN
Slide 8: Key Financial Highlights – Q3 2025
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 8 KEY FINANCIAL HIGHLIGHTS – Q3 2025 Financial and Operating Results • Revenues of $21 million • Gross profit of $9.9 million • 47% gross profit margin, 53% excluding depreciation, depletion & non-cash write-downs • Net inc
Slide 9: Key Operating & Financial Information – Q3 2025
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 9 KEY OPERATING & FINANCIAL INFORMATION – Q3 2025 FINANCIAL RESULTS Q3 2025 Q3 2024 Change YTD 2025 YTD 2024 Change Revenues $21.0 M $14.6 M 44% $61.7 M $41.8 M 48% Gross profit (mine operating income) $9.9 M $5.7 M 73% $30
Slide 10: Costs Per Ounce
A Clear Path to Transformational Growth 10 COSTS PER OUNCE Per Ounce Costs Cash Costs • Q3 2025 - $17.09 • 14% higher vs. Q3 ’24 • Using budget prices - $15.88 $24.06 • YTD 2025 - $14.95 $22.06 $21.64 $21.61 • 3% lower vs. YTD ’24 • Using budget prices - $14.56 $17.09 $15.35 $14.94 $14.95 All-in Sus
Slide 11: Costs Per Tonne
A Clear Path to Transformational Growth 11 COSTS PER TONNE Costs Per Tonne Processed Cash Costs $76.47 $79.52 • Q3 2025 - $53.18 $73.97 $74.69 • % lower vs. Q ‘ $57.12 • YTD 2025 - $52.60 $53.18 $54.02 $52.60 • % lower vs. YTD ‘ All-in Sustaining Costs • Q3 2025 - $73.97 • % lower vs. Q ‘ • YTD 2025
Slide 12: Third Quarter – CSR Initiatives
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 12 THIRD QUARTER – CSR INITIATIVES • School sponsorships • A trench was prepared to channel rainwater from the mine • Donation of scrap material for further use • Road maintenance • 2nd Health fair – offering free access to
Slide 13: Integrating AI and a Proven Exploration Process
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 13 INTEGRATING AI AND A PROVEN EXPLORATION PROCESS With the support of VRIFY’s AI software, 5.94 Gb of data was ingested: • 194,277 drill assays • 3,550 rock samples • 5,960 soil samples • 52 Geophysics layers (including IP
Slide 14: Upcoming Activities
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 14 UPCOMING ACTIVITIES Avino Mine • At Avino, the 2025 drilling program commenced in April with a program consisting of nine planned holes from surface, with six now complete. • The objective of the ET Area drill program is
Slide 15: Production Profile by Project – 5 Year Growth Target
A Clear Path to Transformational Growth 15 PRODUCTION PROFILE BY PROJECT – 5 YEAR GROWTH TARGET Transition from Single Production Operation to a Multi-Asset Mexican Mid-tier Producer 029 by 2 w th t Gro i can i f Sign
Slide 16: Thank You – Questions?
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 16 THANK YOU QUESTIONS? Avino Silver & Gold Mines Ltd. T: 604-682-3701 F: 604-682-3600 Suite 900 – 570 Granville Street Vancouver, BC V6C 3P1 www.avino.com
Slide 17: Appendix A: IFRS to Non-GAAP Measures Reconciliations
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 17 APPENDIX A IFRS ACCOUNTING STANDARDS TO NON-GAAP MEASURES RECONCILIATIONS
Slide 18: Reconciliations: EBITDA & Adjusted Earnings
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 18 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS EBITDA & ADJUSTED EARNINGS Expressed in ’s of US$ unless otherwise noted Q3 2025 Q3 2024 YTD 2025 YTD 2024 Net income for the period $7,702 $1,169 $16,183 $3,008 D
Slide 19: Reconciliations: Cash Cost & AISC per Silver Equivalent Ounce
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 19 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & ALL-IN SUSTAINING COST PER SILVER EQUIVALENT PAYABLE OUNCE Expressed in ’s of US$ unless otherwise noted Avino Q3 2025 Q3 2024 YTD 2025 YTD 2024 Cost o
Slide 20: Reconciliations: Cash Cost & AISC per Tonne Processed
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 20 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & ALL-IN SUSTAINING COST PER TONNE PROCESSED Expressed in ’s of US$ unless otherwise noted Avino Q3 2025 Q3 2024 YTD 2025 YTD 2024 Cost of sales $11,137
Slide 21: Reconciliations: Free Cash Flow
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 21 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS FREE-CASH FLOW Q3 2025 Q3 2024 YTD 2025 YTD 2024 Cash flow statement – cash provided by operating activities $8.3 M $4.2 M $17.4 M $7.6 M Cash flow statement – exp
Slide 22: Reconciliations: Mine Operating Cash Flow Before Taxes
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 22 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS MINE OPERATING CASH FLOW BEFORE TAXES Q3 2025 Q3 2024 YTD 2025 YTD 2024 Statement of comprehensive income - mine operating income (gross profit) $9.9 M $5.7 M $30.
Slide 23: Footnotes
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 23 FOOTNOTES Slide 5 - 11 1. In Q3 2025, AgEq was calculated using metal prices of $39.38 per oz Ag, $3,454 per oz Au and $4.45 per lb Cu. In Q3 2024, AgEq was calculated using metals prices of $29.42 oz Ag, $2,476 oz Au an
Avino Silver & Gold Mines — Q3 2025 Earnings Presentation on 6ix