Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (July 2025)
40 slides from Hycroft Mining's investor presentation, Jul 31, 2025
Slide 1: Developing One Of North America's Largest Precious Metals Deposits
HYCROFT Developing One Of North America’s Largest Precious Metals Deposits August 2025 hycroftmining.com
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Financia Projections dures with respect or ratory Thi inarcialforecassrepa so the Coan. Tes projectors stu not era pon ab necessary ndtv of ftreresis. Te rdrennt au site, rev he beget rst neh purpose d ths presentation. Hyer a Seteeary commer Toupiatecrvewsethe profeciore, whether oreuitot ew infor
Slide 3: Key Investment Highlights
Key Investment Highlights Substantial Gold and Silver Resource in Tier 1 Jurisdiction New High-Grade Discovery + Exploration Upside Advancing Technical Studies for Milling Operations Cash Position ~ US$68.8M on June 30, 2025 Board, Management and Technical Team with Proven Track Record Visible silve
Slide 4: Gold and Silver Resources
Gold and Silver Resources Gold *Source: Technical Report Summary, dated March 27, 2023 A Do4 SD] ete oe ene at enn HYCROFT
Slide 5: Gold and Silver Eq Resources
Gold and Silver Eq Resources Gold Total Silver Eq Resources *Source: Technical Report Summary, dated March 27, 2023. *Gold and Silver Equivalent is calculated at a gold-to-sitver ratio of 77.55:1 (based on $1900 gold and $24.50 silver) a .. TOT HYCROFT
Slide 6: Stores of Value
Stores of Value The original safe-haven asset Long-term store of value Hedge against inflation Preservation of wealth and portfolio diversification Gold is a finite resource with growing demand Central bank reserves are rising Historically used as a store of value Dual role as a precious and industr
Slide 7: A World-Class Asset and Team
Tier 1 Jurisdiction One of the world’s largest gold and silver deposits in a Tier | Jurisdiction Production-oriented Completing engineering work for next phase of commercial operations High-Grade Silver New high-grade silver discovery represents a significant new value driver for the Hycroft Mine Sa
Slide 8: Mine Finders and Mine Builders
Mine Finders and Mine Builders DIANE GARRETT PRESIDENT & CEO Formerly with Romarco Minerals, US Global Investors STAN RIDEOUT EXECUTIVE VICE PRESIDENT & CFO Formerly with Romarco Minerals, Phelps Dodge Corp. REBECCA JENNINGS SVP & GENERAL COUNSEL Formerly with Newmont, Allied Nevada DAVID THOMAS SVP
Slide 9: 2025 Catalysts
2025 Catalysts Final Metallurgical Recoveries on both POX and Roasting 2 Launch Drill Program on 2 High-Grade Silver Systems to Establish Resource & Potential Mine Plan 3Q-25 Complete PEA / PFS with Economics and Updated Resource Assess Restart of Heap-Leach Operation Prior to Milling Operation Stre
Slide 10: Our Approach
Our Approach Develop Untapped Potential = Expand recent high- grade discoveries = Evaluate new potential underground Opportunity Advance Towards Production = Complete technical studies for sulfide milling operation = Finalize Roaster vs POx process flow sheet Uncover District Potential = 64,000-acre
Slide 11: Our Accomplishments
Our Accomplishments Moving Hycroft Up the Value Chain Industry-leading Safety Record = Award-winning safety culture and standards ® Trailing 30-month TRIFR'* ZERO | National industry average: >2 = Over 1.3 million man-hours without a Lost Time Incident ® Strong relationships in the community and a p
Slide 12: A Premier Mining Jurisdiction
A Premier Mining Jurisdiction Nevada leads the nation with the largest mining program in lower 48 states Nevada is a significant producer of gold and silver Strong ethic towards effective and successful reclamation projects Favorable mining jurisdiction Excellent infrastructure Accessible labor / co
Slide 13: A World-Class Asset
A World-Class Asset (sone the world’s largest precious metals deposits Heap leach operations (1980s to 2021) , Adjacent to past producing - —— high-grade Rosebud mine Extensive infrastructure on- site Permitted for heap leach and milling operations De-risked and ahead of other developers Large untap
Slide 14: Property Overview
Property Overview Union Pacific Land package is over 64,000 Rail Line (active) acres (25,900 hectare) Resource area comprises less than 10% of the land package Jungo Road (Nevada State Route 49) Resource remains open in all directions and at depth Hycroft Claims. — Resource Area | Claims not owned b
Slide 15: Current Infrastructure
Current Infrastructure N i} Q Onsite lab, admin, maintenance, truck shop, warehouse Q Crusher and conveyor belt circuit HYMC DEVELC
Slide 16: Current Infrastructure
Current Infrastructure (Clarifier & Zinc Cementation CQ) New leach pad (permitted and available for ore loading) WORLD'S LARGEST PREGIOU
Slide 17: 7 HYCROFT
7 HYCROFT
Slide 18: Environmental, Social, Governance
Environmental Climate Change Greenhouse gas (GHG) emissions Energy management Climate risks Water Management Waste Management Biodiversity Social Diversity & Equal Opportunity Labor Relations Health and safety Emergency preparedness Working conditions Diversity and inclusion Human rights Community e
Slide 19: Positive Metallurgical Results
Positive Metallurgical Results Flotation Gold and Silver Recoveries Gold Recovery (%) 100.0 75.0 Flotation Gold and Silver Recoveries 7798.9 99.9 97.0 Silver A7 92.9 93% Gold 0.9 189.2 89% 85.3 82.1 +74.0 pH=4.7 GrindSize<85u 24-minute Conditioning Mass Pull > 20% 4 Recovery values from 2023 Hycroft
Slide 20: Bridge to Technical Report
Bridge to Technical Report + PFS-FS © 2024 Drill Results Technical Report + Construction with Economics (4Q2025) o Initial Mine Plan o Benchtop Roaster Testing =o Launch 2025 Drill Program on High- G * Production o Capital Equipment Selection o Operating Cost Assessment v¥ Site Layout Designs Y Tail
Slide 21: 2025 Drill Program
2025 Drill Program = 14,500 meters of core drilling = Two core drill rigs = Target expansion of high-grade silver systems at Vortex and Brimstone
Slide 22: Bird's Eye View
Bird’s Eye View = Resource area comprises less than 10% of our land package = Resource remains open in all directions and at depth
Slide 23: High Grade Trends
High Grade Trends (sow High-Grade Silv > er and Gold Mineralization Trends = High-Grade mineralization remains open along trends and at depth = Open Pit and Underground \ Optionality J)
Slide 24: Visible Silver in Core
Visible Silver in Core HD24_6010 from Brimstone 18.2 meters of 1,987.35 g/tAg Large zones of visible silver 0.9m @ 10,289 git Ag 0.3m @ 20,280 git Ag
Slide 25: 2024 Drill Highlights - Brimstone
2024 Drill Highlights - Brimstone Locati Hole ID FROM TO INTERVAL GRADE ocation lole an] (meters) (meters) (meters) Ag (git) Au (git) AuEQ (g/t) Brimstone H23R-5753 * 274.3 359.7 85.3 834,29 0.23 7.12 including 285.0 324.6 39.6 1,019.28 0.26 13.40 also including 317.0 321.6 46 4,974.00 0.56 64.70 Br
Slide 26: Vortex
Vortex Vortex Vortex Vortex Hole ID H23D-6001 ° including including also including also including H24D-6002 * including including H24D-6005 * including including including H24D-6007 ° including including FROM (meters) 383.2 451.7 498.2 498.2 504.6 357.3 440.4 441.9 254.4 385.2 537.4 341.1 468.4 513.
Slide 27: High Grade Trends (Brimstone)
High Grade Trends (Brimstone) Grade shell based on 10ft x 10ft x 10ft block model ra HYCROFT
Slide 28: High Grade Trends (Vortex)
High Grade Trends (Vortex) Grade shell based on 10ft x 10ft x 10ft block model Fa HYCROFT
Slide 29: Conceptual Underground Access
Conceptual Underground Access HYCROFT
Slide 30: Potential High-Grade Extensions
Potential High-Grade Extensions
Slide 31: Targets Outside of Resource
Targets Outside of Resource Testing high priority exploration targets outside the currently known resource Improving understanding of the mineralization controls for the Hycroft system and beyond Entirety of land package and historical data provides incredible insight into structural intersections o
Slide 32: 2025 Catalysts
2025 Catalysts 2 Launch Drill Program on 2 High-Grade Silver Systems to Establish Resource & Potential Mine Plan Final Metallurgical Recoveries on both POX and Complete PEA / Assess Restart Strengthen PFS with of Heap-Leach Balance Sheet & Economics and Operation Prior Reduce Debt Updated Resource t
Slide 33: Capitalization & Ownership
Capitalization & Ownership Capital Structure Ownership Summary Share Price *—- HYMC(naspaq) $3.69 Eric Sprott 52-Week range $1.95 - $4.70 82M | 21% Includes: Shares Outstanding ‘ 39.1M AMC Entertainment 24M | 6% Fully Diluted * 52.8M Management urces Market Capitalization ' $144.5M Institutional J n
Slide 34: HYCROFT
HYCROFT For more information info@hycroftmining.com hycroftmining.com
Slide 35: Appendix
HYCROFT Appendix
Slide 36: Board of Directors
Board of Directors THOMAS WENG CHAIRMAN Co-Founding Partner, Alta Capital Partners; formerly with Deutsche Bank DAVID NACCARATI INDEPENDENT DIRECTOR Independent consultant; formerly with Cupric Canyon Capital, LLC, Phelps Dodge Corporation DIANE GARRETT PRESIDENT & CEO Formerly with Romarco Minerals
Slide 37: Mineral Resources
Mineral Resources gm/tonne Silver gm/tonne Sulfide Sulfur% Heap Leach Resources Mineral resources based on metal prices of $1,900/oz Au and $24.50/oz Ag Measured 0.07 85,424 0.274 5.72 2.14 753 15,725, Indicated 0.07 54,206 0.250 4.32 1.78 436 7,529 Cutoffs are income — process cost = NPR = oor a7 2
Slide 38: Resource Estimation Parameters
Resource Estimation Parameters Unit of measure Value Comminution Perton offeed to float plant $3.99, Gold price $loz $1,900 Flotation Perton offeed to float plant $3.68 Silver price $/oz $24.50 Process (fixed costs) Perton offeed to floatplant $0.51 Mino canna ree! Cie Leach, CCD, Detox (fixed costs
Slide 39: Metallurgical Results
Metallurgical Results Purpose = Identify flotation operating parameters to maximize gold and silver recovery using over 200 selected drill hole samples that are representative of multiple mining stages through the Hycroft ore body. Program = 219 Variability Samples, including 30 duplicate and 15 tri
Slide 40: Debt Overview
Debt Overview Senior Secured Subordinated Notes . Mudrick, Whitebox Advisors, Held By Sprott Resource Lending Corp. Highbridge Capital, Aristeia Capital Face Value $15M $118 M Interest Rate 10.55% 10% Maturity Date May 31, 2027 December 1, 2027 Notes: "Sprott debt interest rate: SOFR+0.26161%+6% (ex
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