Hecla Mining Company · NYSE:HL

Hecla Mining — BMO Global Metals, Mining & Critical Minerals Conference 2025

40 slides from Hecla Mining's conference presentation, Feb 25, 2025

  1. Slide 1: BMO Global Metals, Mining & Critical Minerals Conference

    Largest U.S. and Canadian silver producer BMO GLOBAL METALS, MINING & CRITICAL MINERALS CONFERENCE February 25, 2025 RESPONSIBLE. SAFE. INNOVATIVE.

  2. Slide 2: Cautionary Statements

    HECLA MINING COMPANY NYSE: HL Cautionary Statements BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Cautionary Statement Regarding Forward-Looking Statements Qualified Person (QP) This presentation contains “forward-looking statements” within the meaning of Section 27A of

  3. Slide 3: Storied Past, Forward-Looking Vision

    HECLA MINING COMPANY NYSE: HL Storied Past, Forward-Looking Vision BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025  Drive continuous improvement through automation and Operational advanced analytics Excellence  Standardize systems and processes  Improve mine planning Po

  4. Slide 4: Best In Class Silver Portfolio

    HECLA MINING COMPANY NYSE: HL Leading Silver Producer In Best Mining Jurisdictions BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Silver Operations in Lowest Risk Jurisdictions Largest U.S. and Canadian silver producer, 3rd largest primary silver producer globally* Best I

  5. Slide 5: Committed To Responsible Mining

    HECLA MINING COMPANY NYSE: HL Committed To Responsible Mining BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 All-Injury Frequency Rate of 1.86 (*)  Introduced a program focused on safety values: Safety 365 – Work Safe, Home Safe ~40,500 hours of safety and health trainin

  6. Slide 6: Largest Silver Producer In The U.S. & Canada

    HECLA MINING COMPANY NYSE: HL Largest Silver Producer In The U.S. & Canada BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 2023 World Production of Silver 2023 U.S. Silver Production (Moz) 13.4 23% Mexico Three countries Peru produce ~48% of China 48% the world’s silver 12

  7. Slide 7: Largest U.S./Canada Reserve Base With Highest Grades

    HECLA MINING COMPANY NYSE: HL Largest U.S./Canada Reserve Base With Highest Grades BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Hecla and Peers: Silver Reserves and Reserve Grade Silver Reserves (Moz) Silver Grade (g/t) Silver Reserves (Moz) in U.S. and Canada 2nd highe

  8. Slide 8: Low-cost Profile Silver Assets

    HECLA MINING COMPANY NYSE: HL Low-cost Profile Silver Assets BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Silver AISC Curve of Hecla and Silver Peers*– 12 Months Ended December 31, 2023 US$/oz AISC Hecla Silver Peers* 20.2 20.4 22.9 18.2 19.6 15.2 12.6 11.8 - 20,000 40,

  9. Slide 9: Capital Allocation Priorities

    HECLA MINING COMPANY NYSE: HL Capital Allocation Priorities BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Capital allocation prioritizes investment in operations focused on high- return projects Investment & Growth Deleveraging Shareholder Returns  Invest in organic pro

  10. Slide 10: Greens Creek: Cornerstone Mine, Foundation Of Our Future

    HECLA MINING COMPANY NYSE: HL Greens Creek: Cornerstone Mine, Foundation Of Our Future GREENS CREEK BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Low-cost structure with AISC in best 15th percentile of cost curve of primary silver mines* History of continuous improvement

  11. Slide 11: Consistency & Innovation Free Cash Flow Engine

    HECLA MINING COMPANY NYSE: HL Consistency & Innovation  Free Cash Flow Engine BMO Global Metals, Mining & GREENS CREEK Critical Minerals Conference February 25, 2025 Cumulative Cash Flow from Operations, Free Cash Flow* ($ Million) 3,225 Free Cash Flow Cash Flow from Operations 3,026 Low-cost struc

  12. Slide 12: Lucky Friday: 2nd Cornerstone Mine

    HECLA MINING COMPANY NYSE: HL Lucky Friday: 2nd Cornerstone Mine BMO Global Metals, Mining & LUCKY FRIDAY Critical Minerals Conference February 25, 2025 Underhand Closed Bench mining method, investment have positioned Lucky Friday to have the best decade in its 80-year history Investment and innovat

  13. Slide 13: Best Decade In 80 Year History Is Ahead

    HECLA MINING COMPANY NYSE: HL Best Decade In 80 Year History Is Ahead BMO Global Metals, Mining & LUCKY FRIDAY Critical Minerals Conference February 25, 2025 Silver Production by Decade* (Million oz) UCB method’s success and higher grades mined at depth ~2x 50 position Lucky Friday to be a 5Moz prod

  14. Slide 14: Keno Hill: Largest Silver Producer In Canada

    HECLA MINING COMPANY NYSE: HL Keno Hill: Largest Silver Producer In Canada BMO Global Metals, Mining & KENO HILL Critical Minerals Conference February 25, 2025 Land package of 88 square miles, Exploration drilling continues to confirm significant exploration potential in the district Permitting path

  15. Slide 15: Keno Hill: Roadmap To Growth

    HECLA MINING COMPANY NYSE: HL Keno Hill: Roadmap To Growth BMO Global Metals, Mining & KENO HILL Critical Minerals Conference February 25, 2025 Key Key Requirements 600+Tons Tons per day 1,000Tons tonsper perday day Requirements Consistent 440 tons per day 600 per day >600  Cemented tails batch pla

  16. Slide 16: Montana Assets: 3rd Largest Undeveloped Copper Deposit In The U.S.

    Montana Assets: 3rd Largest Undeveloped Copper Deposit In The HECLA MINING COMPANY NYSE: HL U.S. BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Located 50 miles from Lucky Friday with Working to advance underground data great exploration potential collection and permittin

  17. Slide 17: Silver Supply And Demand

    HECLA MINING COMPANY NYSE: HL Silver Supply And Demand BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 2023 SILVER DEMAND: 1,195MOZ 2023 SILVER SUPPLY: 1,010MOZ Other 3% Jewelry and Silverware Photo Recycling Mine Prod. - Other 18% Primary Silver 22% voltaics 24% 23% 29% B

  18. Slide 18: Appendix

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 18

  19. Slide 19: Guidance – Strong Silver Margins And Production

    HECLA MINING COMPANY NYSE: HL Guidance – Strong Silver Margins And Production BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Silver Production (Moz) Gold Production (Koz) Silver Equivalent (Moz)6 Gold Equivalent (Koz)6 Greens Creek * 8.1 – 8.8 44 – 48 18.0 – 19.5 200 – 21

  20. Slide 20: End Notes

    HECLA MINING COMPANY NYSE: HL End Notes BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

  21. Slide 21: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 21

  22. Slide 22: Adjusted EBITDA

    HECLA MINING COMPANY NYSE: HL Adjusted EBITDA BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months 2024 2023 Dollars in thousands (USD) Net income (loss) $ 35,802 $ (84,217) Interest exp

  23. Slide 23: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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,

  24. Slide 24: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

  25. Slide 25: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

  26. Slide 26: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

  27. Slide 27: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL Free Cash Flow (Non-GAAP) Reconciliation BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for Greens Creek and Lucky Friday 2020 to YTD 2024 TOTAL 2024

  28. Slide 28: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL Free Cash Flow (Non-GAAP) Reconciliation BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Greens Creek reconciliation of cash provided by operating activities (GAAP) to free cash flow (non-GAAP) TOTAL 2024 2023 2022 2021 2020 in millions Cash p

  29. Slide 29: Mineral Reserves And Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 29

  30. Slide 30: Mineral Reserves – 12/31/2024 (1/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (1/4) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

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

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (2/4) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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 Green

  32. Slide 32: Mineral Reserves – 12/31/2024 (3/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (3/4) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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 To

  33. Slide 33: Mineral Reserves – 12/31/2024 (4/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (4/4) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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 pe

  34. Slide 34: Mineral Resources - 12/31/2024 (1/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (1/6) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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 o

  35. Slide 35: Mineral Resources - 12/31/2024 (2/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (2/6) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

  36. Slide 36: Mineral Resources - 12/31/2024 (3/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (3/6) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 Measured & Indicated Resources Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 o

  37. Slide 37: Mineral Resources - 12/31/2024 (4/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (4/6) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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

  38. Slide 38: Mineral Resources - 12/31/2024 (5/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (5/6) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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 2

  39. Slide 39: Mineral Resources - 12/31/2024 (6/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (6/6) BMO Global Metals, Mining & Critical Minerals Conference February 25, 2025 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-o

  40. Slide 40: Thank You

    THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.

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