Hecla Mining Company · NYSE:HL

Hecla Mining — BMO Global Metals & Mining Conference 2024

34 slides from Hecla Mining's conference presentation, Feb 27, 2024

  1. Slide 1: BMO Global Metals & Mining Conference

    Largest U.S. silver producer, soon-to-be largest Canadian silver producer BMO GLOBAL METALS & MINING CONFERENCE February 27, 2024 RESPONSIBLE. SAFE. INNOVATIVE.

  2. Slide 2: Cautionary Statements

    HECLA MINING COMPANY NYSE: HL CAUTIONARY STATEMENTS BMO Global Metals & Mining Conference February 2024 Cautionary Statement Regarding Forward-Looking Statements resources.” Mineral resources that are not mineral reserves do not have demonstrated economic viability. You should not assume that all or

  3. Slide 3: Silver Supply and Demand

    HECLA MINING COMPANY SILVER SUPPLY AND DEMAND NYSE: HL BMO Global Metals & Mining Conference February 2024 2022 SILVER DEMAND: 1,242MOZ 2022 SILVER SUPPLY: 1,005MOZ Other 3% Photo Recycling Mine Prod. - Jewelry and Other 18% voltaics Primary Silver Silverware 24% 25% 23% 25% Industrial and Consumer

  4. Slide 4: Silver Deficit Is Expected to Continue

    HECLA MINING COMPANY NYSE: HL SILVER DEFICIT IS EXPECTED TO CONTINUE BMO Global Metals & Mining Conference February 2024 Silver demand is buoyed by PVs with newer silver technologies that use more silver  In 2022, silver deficit was 238Moz, 2023 forecast deficit is 142Moz*  Expect silver deficit t

  5. Slide 5: What Makes Hecla the Premier Silver Investment

    HECLA MINING COMPANY NYSE: HL WHAT MAKES HECLA THE PREMIER SILVER INVESTMENT BMO Global Metals & Mining Conference February 2024 Best In Class Silver Portfolio  Leading Silver Producer in the World’s Best Mining Jurisdictions  Largest U.S silver producer (45%)*, Canada’s by 2024, 3rd largest prima

  6. Slide 6: Greens Creek: World's 11th Largest Silver Mine

    HECLA MINING COMPANY NYSE: HL GREENS CREEK: WORLD’S 11th LARGEST SILVER MINE BMO Global Metals & GREENS MiningCREEK Conference February 2024 Since 1987, Greens Creek has: Mined more than -  20.9 million tons, containing 354.7Moz Silver, 2.9Moz, Gold, 4.1Blbs Zinc, 1.6Blbs Lead Generated more than -

  7. Slide 7: Lucky Friday: Innovation Driven Growth

    HECLA MINING COMPANY NYSE: HL LUCKY FRIDAY: INNOVATION DRIVEN GROWTH LUCKY BMO Global Metals & FRIDAY Mining Conference February 2024 2nd Cornerstone Asset, Mine plan of 19 Years  Poised to be a 5Moz silver producer  H1/2023 - Generated $65M in cash flow from operations and $34M in free cash flow(

  8. Slide 8: Keno Hill: Building a Strong Foundation

    HECLA MINING COMPANY NYSE: HL KENO HILL: BUILDING A STRONG FOUNDATION KENO BMO Global Metals & Mining HILL Conference February 2024 Positioned to be Canada’s largest silver producer  Largest primary silver reserves in Canada  Since acquisition, 45% increase in silver reserves to ~55Moz at 26.6 opt

  9. Slide 9: Casa Berardi: Executing on Surface Transition Plan

    HECLA MINING COMPANY NYSE: HL CASA BERARDI: EXECUTING ON SURFACE TRANSITION PLAN BMO Global Metals & CASAMining BERARDI Conference February 2024 Technical report demonstrates long- term value in pits with a 14-year reserve mine plan  Transition to complete surface operation by mid-2024 is exceeding

  10. Slide 10: 2023 Financial Highlights

    HECLA MINING COMPANY NYSE: HL 2023 FINANCIAL HIGHLIGHTS BMO Global Metals & Mining Conference February 2024 2023 Revenues By Metal Strong Silver Margins Net Debt to Adjusted EBITDA ($/silver ounce) ($ Million) 2nd highest revenues in history Margins are 50% of silver price 2024: Achieve target of <

  11. Slide 11: Guidance – Strong Silver Production Growth

    HECLA MINING COMPANY NYSE: HL GUIDANCE – STRONG SILVER PRODUCTION GROWTH BMO Global Metals & Mining Conference February 2024 15-20% Silver production growth in 2024, 30% by 2026 Silver Production (Moz) Gold Production (Koz) Silver Equivalent (Moz) Gold Equivalent (Koz) Consolidated 2024 Total 16.5 -

  12. Slide 12: Appendix

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 12

  13. Slide 13: End Notes

    HECLA MINING COMPANY NYSE: HL END NOTES BMO Global Metals & Mining Conference February 2024 1. Net debt to adjusted EBITDA is a non-GAAP measurement, a reconciliation of adjusted EBITDA and net debt to the closest GAAP measurements of net income (loss) and debt can be found in the appendix. It is an

  14. Slide 14: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 14

  15. Slide 15: Adjusted EBITDA Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL ADJUSTED EBITDA RECONCILIATION TO GAAP BMO Global Metals & Mining Conference February 2024 Reconciliation of Net Loss (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months Q4 2023 Q3 2023 Dollars in thousands (USD) Net loss $ (84,217) $ (45,734) Interest expense 43,31

  16. Slide 16: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP BMO Global Metals & Mining Conference February 2024 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 Cred

  17. Slide 17: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP BMO Global Metals & Mining Conference February 2024 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-produc

  18. Slide 18: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP BMO Global Metals & Mining Conference February 2024 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-produc

  19. Slide 19: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP BMO Global Metals & Mining Conference February 2024 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-produc

  20. Slide 20: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP BMO Global Metals & Mining Conference February 2024 2024 Silver and Gold Estimates Reconciliation of Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-I

  21. Slide 21: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION BMO Global Metals & Mining Conference February 2024 Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for Greens Creek, Lucky Friday and Casa Berardi 2018 to 2023 Greens Total Lucky Frida

  22. Slide 22: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION BMO Global Metals & Mining Conference February 2024 Greens Creek reconciliation of cash provided by operating activities (GAAP) to free cash flow (non-GAAP) TOTAL 2023 2022 2021 2020 in millions Cash provided by operating activit

  23. Slide 23: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION BMO Global Metals & Mining Conference February 2024 Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for Greens Creek, Lucky Friday and Casa Berardi 2018 to 2023 Total Greens Creek Lucky

  24. Slide 24: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION BMO Global Metals & Mining Conference February 2024 Greens Creek reconciliation of cash provided by operating activities (GAAP) to free cash flow (non-GAAP) TOTAL YTD 2023 2022 2021 2020 in millions Cash provided by operating act

  25. Slide 25: Mineral Reserves and Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 25

  26. Slide 26: Mineral Reserves - 12/31/2023 (1/2)

    HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Reserves - 12/31/2023 (1) (1/2) BMO Global Metals & Mining Conference February 2024 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) G

  27. Slide 27: Mineral Reserves - 12/31/2023 (2/2)

    HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Reserves - 12/31/2023 (1) (2/2) BMO Global Metals & Mining Conference February 2024 Proven & Probable Reserves Silver Gold Lead Zinc Silver Gold Lead Zinc Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (

  28. Slide 28: Mineral Resources - 12/31/2023 (1/4)

    HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (1/4) BMO Global Metals & Mining Conference February 2024 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

  29. Slide 29: Mineral Resources - 12/31/2023 (2/4)

    HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (2/4) BMO Global Metals & Mining Conference February 2024 Indicated Resources (10) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (0

  30. Slide 30: Mineral Resources - 12/31/2023 (3/4)

    HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (3/4) BMO Global Metals & Mining Conference February 2024 Measured & Indicated Resources Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000

  31. Slide 31: Mineral Resources - 12/31/2023 (4/4)

    HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (4/4) BMO Global Metals & Mining Conference February 2024 Inferred Resources (11) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (00

  32. Slide 32: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES BMO Global Metals & Mining Conference February 2024 Note: All estimates are in-situ except for the proven reserves at Greens Creek which are in surface stockpiles. Mineral resources are exclusive of reserves. 1. The term “reserve

  33. Slide 33: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES BMO Global Metals & Mining Conference February 2024 17. Indicated resources for most zones at San Sebastian based on $1,500/oz gold, $21/oz silver, $1.15/lb lead, $1.35/lb zinc and $3.00/lb copper using a cut-off grade of $90.72/

  34. Slide 34: Thank You

    THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.

Hecla Mining Company — BMO Global Metals & Mining Conference 2024 on 6ix