Hecla Mining Company · NYSE:HL

Hecla Mining — CIBC Western Institutional Investor Conference 2025

35 slides from Hecla Mining's conference presentation, Jan 24, 2025

  1. Slide 1: CIBC Western Institutional Investor Conference

    Largest U.S. and Canadian silver producer CIBC WESTERN INSTITUTIONAL INVESTOR CONFERENCE January 24, 2025 RESPONSIBLE. SAFE. INNOVATIVE.

  2. Slide 2: Cautionary Statements

    HECLA MINING COMPANY NYSE: HL CAUTIONARY STATEMENTS CIBC Western Institutional Investor Conference Cautionary Statement Regarding Forward-Looking Statements indicated, all resource and reserve estimates contained in this presentation have been prepared in accordance with S-K 1300 as well as NI 43-10

  3. Slide 3: Leading Silver Producer in the World's Best Mining Jurisdictions

    HECLA MINING COMPANY NYSE: HL 134 YEARS OF TIME-TESTED SUCCESS CIBC Western Institutional Investor Conference Leading Silver Producer in the World’s Best Mining Jurisdictions Largest U.S. and Canadian silver producer, 3rd largest Best In Class Silver Portfolio primary silver producer globally High-Q

  4. Slide 4: Committed to Responsible Mining

    HECLA MINING COMPANY NYSE: HL COMMITTED TO RESPONSIBLE MINING CIBC Western Institutional Investor Conference 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 training Small environmental footpr

  5. Slide 5: Largest Silver Producer in the U.S. & Canada

    HECLA MINING COMPANY NYSE: HL LARGEST SILVER PRODUCER IN THE U.S. & CANADA Source: Company Reports, World Silver Survey 2024, CIBC Western Institutional Investor Conference 2023 World Production of Silver 2023 U.S. Silver Production (Moz) 23% Mexico 12.8 Three countries Peru Hecla is the largest sil

  6. Slide 6: Largest U.S./Canada Reserve Base with Highest Grades

    HECLA MINING COMPANY NYSE: HL LARGEST U.S./CANADA RESERVE BASE WITH HIGHEST GRADES CIBC Western Institutional Investor Conference Hecla and Peers: Silver Reserves and Reserve Grade Silver Reserves (Moz) Silver Grade (g/t) Silver Reserves (Moz) in U.S. and Canada 2nd highest silver reserve grades, wi

  7. Slide 7: Low-Cost Profile Silver Assets

    HECLA MINING COMPANY NYSE: HL LOW-COST PROFILE SILVER ASSETS CIBC Western Institutional Investor Conference 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 40,000 60,000 80,000 100,000 12

  8. Slide 8: Capital Allocation Priorities

    HECLA MINING COMPANY NYSE: HL CAPITAL ALLOCATION PRIORITIES CIBC Western Institutional Investor Conference Capital allocation prioritizes re-investment in operations focused on high- return projects Investment & Growth Deleveraging Shareholder Returns  Invest in organic production  Net leverage ra

  9. Slide 9: Greens Creek: Flagship Mine

    HECLA MINING COMPANY NYSE: HL GREENS CREEK: FLAGSHIP MINE CIBC Western Institutional GREENS InvestorCREEK Conference Low-cost structure with AISC in best 15th percentile of cost curve of primary silver mines* History of continuous improvement since 2008 • 7% increase in silver recoveries 11th larges

  10. Slide 10: Consistency & Innovation: Free Cash Flow Engine

    HECLA MINING COMPANY NYSE: HL CONSISTENCY & INNOVATION  FREE CASH FLOW ENGINE CIBC Western Institutional GREENS InvestorCREEK Conference Cumulative Cash Flow from Operations, Free Cash Flow* ($ Million) Free Cash Flow Cash Flow from Operations 3,026 Low-cost structure, high 2,857 2,716 123% grades,

  11. Slide 11: Lucky Friday: 2nd Cornerstone Mine

    HECLA MINING COMPANY NYSE: HL LUCKY FRIDAY: 2nd CORNERSTONE MINE CIBC Western Institutional LUCKY FRIDAY Investor Conference Underhand Closed Bench mining method, investment have positioned Lucky Friday to have the best decade in its 80-year history Investment and innovation are laying the Productio

  12. Slide 12: Best Decade in 80 Year History Is Ahead

    HECLA MINING COMPANY NYSE: HL BEST DECADE IN 80 YEAR HISTORY IS AHEAD CIBC Western Institutional LUCKY FRIDAY Investor Conference 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 producer for 10+ years 30 28 28

  13. Slide 13: Keno Hill: Largest Silver Producer in Canada

    HECLA MINING COMPANY NYSE: HL KENO HILL: LARGEST SILVER PRODUCER IN CANADA CIBC Western Institutional KENO HILL Investor Conference Land package of 88 square miles, Exploration drilling continues to confirm significant exploration potential in the district Focus on safety, environmental, mining Larg

  14. Slide 14: Keno Hill: Roadmap to Growth

    HECLA MINING COMPANY NYSE: HL KENO HILL: ROADMAP TO GROWTH CIBC Western Institutional KENO HILL Investor Conference Key Key Requirements 600+ Tons per day 1,000Tons tonsper perday day Requirements Consistent 440 tons per day 600 Tons per day >600  Cemented tails batch plant to Infrastructure (trans

  15. Slide 15: Silver Supply and Demand

    HECLA MINING COMPANY NYSE: HL SILVER SUPPLY AND DEMAND CIBC Western Institutional Investor Conference 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% Brazing Alloys Electronics 49

  16. Slide 16: Appendix

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 16

  17. Slide 17: End Notes

    HECLA MINING COMPANY NYSE: HL END NOTES CIBC Western Institutional Investor Conference 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 impo

  18. Slide 18: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 18

  19. Slide 19: Last Twelve Months Adjusted EBITDA

    HECLA MINING COMPANY NYSE: HL LAST TWELVE MONTHS ADJUSTED EBITDA CIBC Western Institutional Investor Conference Reconciliation of Net Loss (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months Q3 2024 Q2 2024 Dollars in thousands (USD) Net loss $ (19,057) $ (43,233) Interest expense 48,183 47,992

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

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP CIBC Western Institutional Investor Conference 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 Credits,

  21. Slide 21: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP CIBC Western Institutional Investor Conference 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-product Cre

  22. Slide 22: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP CIBC Western Institutional Investor Conference 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-product Cre

  23. Slide 23: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP CIBC Western Institutional Investor Conference 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-product Cre

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

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION CIBC Western Institutional Investor Conference 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 YTD 2024 2023 2022 2021 2020 in m

  25. Slide 25: Free Cash Flow (Non-GAAP) Reconciliation

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

  26. Slide 26: Mineral Reserves and Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 26

  27. Slide 27: Mineral Reserves - 12/31/2023 (1/2)

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES - 12/31/2023 (1) (1/2) CIBC Western Institutional Investor Conference 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 Creek (2,3) United Sta

  28. Slide 28: Mineral Reserves - 12/31/2023 (2/2)

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES - 12/31/2023 (1) (2/2) CIBC Western Institutional Investor Conference 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) (Tons) Greens Creek (2,3) Uni

  29. Slide 29: Mineral Resources - 12/31/2023 (1/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (1/4) CIBC Western Institutional Investor Conference 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 oz) (Tons) (Tons) (Tons) Gr

  30. Slide 30: Mineral Resources - 12/31/2023 (2/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (2/4) CIBC Western Institutional Investor Conference 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 oz) (Tons) (Tons) (Tons)

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

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (3/4) CIBC Western Institutional Investor Conference Measured & Indicated Resources Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (

  32. Slide 32: Mineral Resources - 12/31/2023 (4/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (4/4) CIBC Western Institutional Investor Conference 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 oz) (Tons) (Tons) (Tons) G

  33. Slide 33: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES CIBC Western Institutional Investor Conference 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” mea

  34. Slide 34: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES CIBC Western Institutional Investor Conference 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/ton (

  35. Slide 35: Thank You

    THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.

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