Avino Silver & Gold Mines Ltd. · TSX:ASM
Avino Silver & Gold Mines — Q2 2025 Earnings Presentation
23 slides from Avino Silver & Gold Mines's earnings presentation, Aug 14, 2025
Slide 1: A Clear Path to Transformational Growth: Q2 2025 Financial Results
A Clear Path to Transformational Growth Q2 2025 FINANCIAL RESULTS CONFERENCE CALL & WEBCAST AUGUST 14, 2025 A CLEAR PATH TO TRANSFORMATIONAL GROWTH The Avino Mine Property
Slide 2: Today's Speakers
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 2 TODAY’S SPEAKERS DAVID WOLFIN, NATHAN HARTE, PRESIDENT AND CEO CHIEF FINANCIAL OFFICER
Slide 3: Cautionary Disclaimer: Forward-Looking Statements
A Clear Path to Transformational Growth 3 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 4: Q2 2025 Financial and Operating Performance
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 4 Q2 2025 FINANCIAL AND OPERATING PERFORMANCE Ongoing Development at La Avino Property Preciosa Full financial statements and MD&A are now available on the website at https://avino.com/investors/financial- statements/ New J
Slide 5: Second Quarter 2025 Highlights
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 5 SECOND QUARTER 2025 HIGHLIGHTS Strong financial performance, posting robust revenues, higher operating margins, improved cost metrics and increased working capital demonstrating strength across several key financial metri
Slide 6: Q2 2025 v Q2 2024 Production Results
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 6 Q2 2025 V Q2 2024 PRODUCTION RESULTS Q2 2025 v Q2 2024 12% 1,600,000 10% increase 1,461,980 1,400,000 1,305,549 1,200,000 19% increase 5% 1,000,000 800,000 645,602 3% 616,571 600,000 17% 17% increase 292,946 283,619 400,0
Slide 7: Q2 2025 Updates
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 7 Q2 2025 UPDATES Avino Mine • Highest mill throughput in Avino’s history – increased 36% from Q2 2024 • Efficiency improvements implemented in earlier periods bearing fruit • Our operations team continues to deliver on cos
Slide 8: At La Preciosa: Progressing on Plan
A Clear Path to Transformational Growth 8 AT LA PRECIOSA: PROGRESSING ON PLAN
Slide 9: Key Financial Highlights – Q2 2025
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 9 KEY FINANCIAL HIGHLIGHTS – Q2 2025 Financial and Operating Results • Revenues of $21.8 million • Gross profit / mine operating earnings of $10.2 million • Net income after taxes - $2.9 million, $0.02 per share • Adjusted
Slide 10: Key Operating & Financial Information – Q2 2025
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 10 KEY OPERATING & FINANCIAL INFORMATION – Q2 2025 FINANCIAL RESULTS Q2 2025 Q2 2024 Change YTD 2025 YTD 2024 Change Revenues $21.8 M $14.8 M 47% $40.6 M $27.2 M 50% Gross profit (mine operating income) $10.2 M $4.7 M 118%
Slide 11: Costs per Ounce
A Clear Path to Transformational Growth 11 COSTS PER OUNCE Per Ounce Costs Cash Costs $22.74 $21.40 • Q2 2025 - $15.11 $20.93 $20.54 • 7% lower vs. Q2 ‘24 $16.29 • YTD 2025 - $13.97 $15.11 $15.55 • 10% lower vs. YTD ‘24 $13.97 All-in Sustaining Cash Costs • Q2 2025 - $20.93 • 8% lower vs. Q2 ‘24 • Y
Slide 12: Costs per Tonne
A Clear Path to Transformational Growth 12 COSTS PER TONNE Costs Per Tonne Processed Cash Costs • Q2 2025 - $52.61 $96.12 • 24% lower vs. Q2 ‘24 $81.21 • YTD 2025 - $52.29 $73.20 $69.66 $75.06 • 7% lower vs. YTD ‘24 $56.30 $52.61 $52.29 All-in Sustaining Cash Costs • Q2 2025 - $73.20 • 24% lower vs.
Slide 13: Second Quarter – CSR Initiatives
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 13 SECOND QUARTER – CSR INITIATIVES • Delivery of low-cost water tanks and cisterns • A trench was prepared to channel rainwater from the mine • A 5-hectare community reforestation has been approved • 67 families in the com
Slide 14: Upcoming Activities
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 14 UPCOMING ACTIVITIES Exploration and Reserves Update • The 2025 delineation drilling commenced at the Avino Mine in April consisting of 9 planned holes from surface • The objective is to test the downdip extension of the
Slide 15: Production Profile by Project – 5 Year Growth Target
A Clear Path to Transformational Growth 15 PRODUCTION PROFILE BY PROJECT – 5 YEAR GROWTH TARGET Transition from Single Production Operation to Three Producing Mines in Central Location 029 by 2 w th t Gro i can i f Sign
Slide 16: Thank You – Questions?
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 16 THANK YOU QUESTIONS? Avino Silver & Gold Mines Ltd. T: 604-682-3701 F: 604-682-3600 Suite 900 – 570 Granville Street Vancouver, BC V6C 3P1 www.avino.com
Slide 17: Appendix A: IFRS to Non-GAAP Measures Reconciliations
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 17 APPENDIX A IFRS ACCOUNTING STANDARDS TO NON-GAAP MEASURES RECONCILIATIONS
Slide 18: Reconciliations: EBITDA & Adjusted Earnings
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 18 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS EBITDA & ADJUSTED EARNINGS Expressed in 000’s of US$, unless otherwise noted Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net income for the period $2,864 $1,240 $8,481 $1,83
Slide 19: Reconciliations: Cash Cost & AISC per Silver Equivalent Ounce
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 19 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS CASH COST & ALL-IN SUSTAINING CASH COST PER SILVER EQUIVALENT PAYABLE OUNCE Expressed in 000’s of US$, unless otherwise noted Avino Q2 2025 Q2 2024 YTD 2025 YTD 20
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 CASH COST PER TONNE PROCESSED Expressed in 000’s of US$, unless otherwise noted Avino Q2 2025 Q2 2024 YTD 2025 YTD 2024 Cost of sales
Slide 21: Reconciliations: Free Cash Flow, Operating Cash Flow per Share
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 21 NON-IFRS ACCOUNTING STANDARDS MEASURES - RECONCILIATIONS FREE-CASH FLOW Q2 2025 Q2 2024 YTD 2025 YTD 2024 Cash flow statement – cash provided by operating activities $8.5 M $1.1 M $9.3 M $3.4 M Cash flow statement – expl
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 Q2 2025 Q2 2024 YTD 2025 YTD 2024 Statement of comprehensive income - mine operating income (gross profit) $10.2 M $4.7 M $20
Slide 23: Footnotes
ASM: TSX/NYSE American www.avino.com A Clear Path to Transformational Growth 23 FOOTNOTES Slide 5 - 12 1. In Q2 2025, AgEq was calculated using metal prices of $33.64 per oz Ag, $3,280 per oz Au and $4.32 per lb Cu. In Q2 2024, AgEq was calculated using metals prices of $28.86 oz Ag, $2,331 oz Au an
Avino Silver & Gold Mines — Q2 2025 Earnings Presentation on 6ix