Avino Silver & Gold Mines Ltd. · TSX:ASM
Avino Silver & Gold Mines — Q1 2026 Earnings Presentation
25 slides from Avino Silver & Gold Mines's earnings presentation, May 14, 2026
Slide 1: Q1 2026 Financial Results
Q1 2026 Financial Results Conference Call & Webcast www.avino.com May 14, 2026 May 2026 TSX: ASM NYSE American: ASM
Slide 2: Cautionary Note
TSX: ASM NYSE American: ASM 2 Cautionary Note 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 Private Securities Litigation Reform Act of 1995
Slide 3: Today's Speakers
TSX: ASM NYSE American: ASM 3 Today’s Speakers TODAY’S SPEAKERS DAVID WOLFIN, NATHAN HARTE, PRESIDENT AND CEO CHIEF FINANCIAL OFFICER A Clear Path to Transformational Growth
Slide 4: Q1 2026 Financial and Operating Performance
TSX: ASM NYSE American: ASM 4 Q1 2026 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 at La Preciosa Mine La Preciosa A Clear Path to
Slide 5: Q1 2026 Key Drivers Guiding our Success
TSX: ASM NYSE American: ASM 5 Q1 2026 Key Drivers Guiding our Success 1. Disciplined approach to financial Management and Capital Allocation – Significant Improvements across key financial metrics • Record revenues of $39.4 million • Cash of $139 million • Working capital position of $140 million 2.
Slide 6: Production Results – Consolidated
TSX: ASM NYSE American: ASM 6 Production Results – Consolidated Q1 Q1 Q1 Q4 Change Change 2026 2025 2026 2025 Total Mill Feed (dry tonnes) 185,497 167,853 11% 185,497 189,338 -2% Feed Grade Silver (g/t) 56 58 -4% 56 62 -9% Feed Grade Gold (g/t) 0.42 0.55 -24% 0.42 0.40 6% Feed Grade Copper (%) 0.42
Slide 7: Production Results – By Operations
TSX: ASM NYSE American: ASM 7 Production Results – By Operations Q1 2026 Avino La Preciosa Total Total Mill Feed (dry tonnes) 171,399 14,098 185,497 Feed Grade Silver (g/t) 47 172 56 Feed Grade Gold (g/t) 0.44 0.29 0.42 Feed Grade Copper (%) 0.42 - 0.42 Recovery Silver (%) 82% 64% 81% Recovery Gold
Slide 8: Financial Highlights – Q1 2026
TSX: ASM NYSE American: ASM 8 FINANCIAL HIGHLIGHTS – Q1 2026 Financial and Operating Results • Record Quarterly revenues of $39.4M • 60% of revenues generated from silver production in Q1 2026 • 59% gross profit margin, 68% on a cash basis • Record net income after taxes – $15.9M ($0.09/share) • Rec
Slide 9: Financial Results
TSX: ASM NYSE American: ASM 9 FINANCIAL RESULTS FINANCIAL RESULTS Q1 2026 Q1 2025 Change Q1 2026 Q4 2025 Change Revenues $39.4 M $18.8 M 109% $39.4 M $30.5 M 29% Gross profit (mine operating income) $23.4 M $10.6 M 122% $23.4 M $17.8 M 31% Net income $15.9 M $5.6 M 183% $15.9 M $10.5 M 52% Net incom
Slide 10: Operating Metrics
TSX: ASM NYSE American: ASM 10 OPERATING METRICS FINANCIAL RESULTS Q1 2026 Q4 2025 Change Avino La Preciosa Cash cost per AgEq oz* $24.46 $21.10 16% $25.07 $19.14 All-in sustaining cash cost (“AISC”) per AgEq oz* $34.72 $31.59 10% $34.82 $33.91 Cash cost per tonne processed* $64.04 $59.99 7% $58.92
Slide 11: Return to Primary Silver
TSX: ASM NYSE American: ASM 11 RETURN TO PRIMARY SILVER Production by Metal 100% 15% 16% 9% 90% 17% 80% 31% 17% 24% 20% 70% 24% 60% 19% 50% 40% 30% 68% 64% 67% 58% 49% 20% 10% 0% 2025 2026 2027 2028 2029 Silver Gold Copper A Clear Path to Transformational Growth
Slide 12: 2026 Key Goals and 2025 Milestones
TSX: ASM NYSE American: ASM 12 2026 Key Goals and 2025 Milestones La Preciosa • 15,000 metres budgeted - Exploration for 2026 • Increased production – Goal of 500 tonnes per day • Updated Mineral Reserve and Resource estimate – April 2026 • AI Integration of all data for resource/reserve expansion a
Slide 13: Production Profile by Project Year Growth Target
TSX: ASM NYSE American: ASM 13 PRODUCTION PROFILE BY PROJECT 5 YEAR GROWTH TARGET PRODUCTION PROFILE BY PROJECT Transition from Single Production Operation to a Multi-asset Mid-tier Producer in Mexico – 5 YEAR GROWTH TARGET 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,
Slide 14: Thank You Questions?
TSX: ASM NYSE American: ASM 14 THANK YOU Questions? Avino Silver & Gold Mines Ltd. T: 604-682-3701 F: 604-682-3600 Suite 900 – 570 Granville Street Vancouver, BC V6C 3P1 www.avino.com A Clear Path to Transformational Growth
Slide 15: Appendix A
TSX: ASM NYSE American: ASM 15 APPENDIX A IFRS ACCOUNTING STANDARDS TO NON- GAAP MEASURES RECONCILIATIONS A Clear Path to Transformational Growth
Slide 16: Non-IFRS Reconciliations: EBITDA & Adjusted Earnings
TSX: ASM NYSE American: ASM 16 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS EBITDA & ADJUSTED EARNINGS Expressed in 000’s of US$, unless otherwise noted Q1 2026 Q1 2025 Q1 2026 Q4 2025 Net income for the period $15,913 $5,617 $15,913 $10,460 Depreciation and depletion 3,337 867 3,337 1,0
Slide 17: Non-IFRS Reconciliations: Cash Cost & AISC per Payable AgEq Oz
TSX: ASM NYSE American: ASM 17 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & AISC PER PAYABLE AgEq Oz Expressed in 000’s of US$, unless otherwise noted Consolidated Q1 2026 Q1 2025 Q1 2026 Q4 2025 Cost of sales $16,015 $8,274 $16,015 $13,328 Exploration expenses (888) (274) (8
Slide 18: Non-IFRS Reconciliations: Cash Cost & AISC per Payable AgEq Oz
TSX: ASM NYSE American: ASM 18 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & AISC PER PAYABLE AgEq Oz Expressed in 000’s of US$, unless otherwise noted Q1 2026 Q4 2025 Avino La Preciosa Total Avino La Preciosa Total Cost of sales $14,391 $1,624 $16,015 $12,365 $963 $13,328 Exp
Slide 19: Cash Cost & AISC per Payable AgEq Oz (2026 Guidance Ratios)
TSX: ASM NYSE American: ASM 19 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & AISC PER PAYABLE AgEq Oz (2026 GUIDANCE AgEq RATIOS) Expressed in 000’s of US$, unless otherwise noted Q1 2026 Q4 2025 Avino La Preciosa Total Avino La Preciosa Total Cost of sales $14,391 $1,624 $16,
Slide 20: Non-IFRS Reconciliations: Cash Cost & AISC per Tonne
TSX: ASM NYSE American: ASM 20 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & AISC PER TONNE Expressed in 000’s of US$, unless otherwise noted Consolidated Q1 2026 Q1 2025 Q1 2026 Q4 2025 Cost of sales $16,015 $8,274 $16,015 $13,328 Exploration expenses (888) (274) (888) (458)
Slide 21: Non-IFRS Reconciliations: Cash Cost & AISC per Tonne
TSX: ASM NYSE American: ASM 21 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & AISC PER TONNE Expressed in 000’s of US$ Q1 2026 Q4 2025 Avino La Preciosa Total Avino La Preciosa Total Cost of sales $14,391 $1,624 $16,015 $12,365 $963 $13,328 Exploration expenses (333) (555) (888
Slide 22: Non-IFRS Reconciliations: Free-Cash Flow
TSX: ASM NYSE American: ASM 22 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS FREE-CASH FLOW Q1 2026 Q1 2025 Q1 2026 Q4 2025 Cash flow statement – cash provided by operating activities $13.6 M $0.8 M $13.6 M $10.0 M Cash flow statement – net changes in non-cash working capital items $5.1 M
Slide 23: Mine Operating Cash Flow Before Taxes Reconciliations
TSX: ASM NYSE American: ASM 23 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS NON-IFRS MINE ACCOUNTING STANDARDS OPERATING MEASURES CASH FLOW BEFORE -TAXES RECONCILIATIONS Q1 2026 Q1 2025 Q1 2026 Q4 2025 Statement of comprehensive income - mine operating income (gross $23.4 M $10.6 M $23.4
Slide 24: Footnotes
TSX: ASM NYSE American: ASM 24 Footnotes Slide 5 – 11 1. “AgEq” was calculated using metal prices of $45.30 per oz Ag, $3,929 per oz Au and $4.85 per lb Cu. Calculated figures may not add up due to rounding. 2. “Silver equivalent payable ounces sold” for the purposes of cash costs and all-in sustain
Slide 25: Thank you for joining our Q1 2026 Webcast & Conference Call
Thank you for joining our Q1 2026 Webcast & Conference Call Thank you! For more information Visit our website at: www.avino.com A Clear Path To Transformational Growth May 2026 TSX: ASM NYSE American: ASM
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