Hecla Mining Company · NYSE:HL

Hecla Mining — Investor Presentation (February 2025)

75 slides from Hecla Mining's investor presentation, February 2025

  1. Slide 1: Largest U.S. and Canadian Silver Producer - February 2025 Update

    Largest U.S. and Canadian silver producer FEBRUARY 2025 UPDATE RESPONSIBLE. SAFE. INNOVATIVE.

  2. Slide 2: Cautionary Statements

    HECLA MINING COMPANY NYSE: HL CAUTIONARY STATEMENTS FEBRUARY 2025 UPDATE Cautionary Statement Regarding Forward-Looking Statements Qualified Person (QP) This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as Kurt D. Allen, MSc., CP

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

    HECLA MINING COMPANY NYSE: HL Storied Past, Forward-Looking Vision FEBRUARY 2025 UPDATE  Drive continuous improvement through automation and Operational advanced analytics Excellence  Standardize systems and processes  Improve mine planning Portfolio  Strategic review of assets (Casa Berardi) Op

  4. Slide 4: Best In Class Silver Portfolio

    HECLA MINING COMPANY NYSE: HL Leading Silver Producer In Best Mining Jurisdictions FEBRUARY 2025 UPDATE Silver Operations in Lowest Risk Jurisdictions Largest U.S. and Canadian silver producer, 3rd largest Best In Class Silver Portfolio primary silver producer globally* High-Quality Portfolio of Cul

  5. Slide 5: Largest Silver Producer In The U.S. & Canada

    HECLA MINING COMPANY NYSE: HL Largest Silver Producer In The U.S. & Canada FEBRUARY 2025 UPDATE 2023 World Production of Silver 2023 U.S. Silver Production (Moz) Hecla is the largest silver 23% producer in the U.S. and Mexico 12.8 Canada. Three countries Peru produce ~48% of China 48% the world’s si

  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 FEBRUARY 2025 UPDATE 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, with the largest 532 reserve

  7. Slide 7: Silver Assets Have The Highest-grade Silver Eq. Reserves

    HECLA MINING COMPANY NYSE: HL Silver Assets Have The Highest-grade Silver Eq. Reserves FEBRUARY 2025 UPDATE Silver Mines: Silver Equivalent Reserves and Reserve Grade 400 1,200 Total Silver Eq. (Moz) Silver Eq. Grade (g/t) 351 350 339 1,000 307 842 300 281 800 Silver Equivalent Grade (opt) Total Sil

  8. Slide 8: Low-cost Profile Silver Assets

    HECLA MINING COMPANY NYSE: HL Low-cost Profile Silver Assets FEBRUARY 2025 UPDATE 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 80,000 100,000 120,000 Silver Production (K

  9. Slide 9: Capital Allocation Priorities

    HECLA MINING COMPANY NYSE: HL Capital Allocation Priorities FEBRUARY 2025 UPDATE Capital allocation prioritizes re-investment in operations focused on high- return projects Investment & Growth Deleveraging Shareholder Returns  Invest in organic production  Net leverage ratio of 1.6x in  Streamlin

  10. Slide 10: Committed To Responsible Mining

    HECLA MINING COMPANY NYSE: HL Committed To Responsible Mining FEBRUARY 2025 UPDATE 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 footprint for employees and cont

  11. Slide 11: Our Operations

    OUR OPERATIONS Silver mines are in the best third of cost curve RESPONSIBLE. SAFE. INNOVATIVE. 11

  12. Slide 12: Greens Creek: Cornerstone Mine, Foundation Of Our Future

    HECLA MINING COMPANY NYSE: HL Greens Creek: Cornerstone Mine, Foundation Of Our Future GREENS CREEK FEBRUARY 2025 UPDATE 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 la

  13. Slide 13: Greens Creek: Fourth Quarter Update

    HECLA MINING COMPANY NYSE: HL Fourth Quarter Update GREENS FEBRUARYCREEK 2025 UPDATE Production of 1.9Moz, lower than planned as equipment availability affected backfill cycles, delay in mining sequence of higher-grades Silver grades expected to increase through 1Q25 Cash costs and AISC beat 2024 gu

  14. Slide 14: Consistency & Innovation Free Cash Flow Engine

    HECLA MINING COMPANY NYSE: HL Consistency & Innovation  Free Cash Flow Engine GREENS FEBRUARYCREEK 2025 UPDATE Cumulative Cash Flow from Operations, Free Cash Flow* ($ Million) 3,225 Free Cash Flow Cash Flow from Operations 3,026 Low-cost structure, high 2,857 2,716 grades, low capital requirements

  15. Slide 15: Continuous Improvement Since Acquisition

    HECLA MINING COMPANY NYSE: HL Continuous Improvement Since Acquisition GREENS FEBRUARYCREEK 2025 UPDATE Mill Throughput, 2008 – 2024 Silver Mill Recoveries, 2008 - 2024 Tons per Day % 26% increase in 33% Increase in silver throughput since 2008 recoveries since 2008 2,506 2,452 2,415 82 2,229 2,236

  16. Slide 16: Lucky Friday: 2nd Cornerstone Mine

    HECLA MINING COMPANY NYSE: HL Lucky Friday: 2nd Cornerstone Mine LUCKY FRIDAY FEBRUARY 2025 UPDATE 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 Production foundation to potential

  17. Slide 17: Strong Labor Relations

    HECLA MINING COMPANY NYSE: HL Strong Labor Relations LUCKY FRIDAY FEBRUARY 2025 UPDATE Union ratification of labor contract in January 2023 solidifies Lucky Friday’s growth  No material changes; work rules are largely unchanged Key terms  Agreement expires May 2029  Longest contract in Hecla’s hi

  18. Slide 18: Potential For Growth At Depth, East Of 30 Vein

    HECLA MINING COMPANY NYSE: HL Potential For Growth At Depth, East Of 30 Vein LUCKY FRIDAY FEBRUARY 2025 UPDATE Lucky Friday 30 Vein Long Section A A’ AgEq OPT: AgEq OPT: Vein Only Diluted Reserves < 10 < 10 10 - 20 10 - 20 20 - 30 20 - 30 30 - 35 30 - 35 > 35 > 35 MINED 1997 – 2023 Eastern Definitio

  19. Slide 19: Underhand Closed Bench Method

    HECLA MINING COMPANY NYSE: HL Underhand Closed Bench Method LUCKY FRIDAY FEBRUARY 2025 UPDATE UCB mining method: large-scale blasting proactively manages seismic risk and increases throughput Is safer: miners Uses advanced drilling work below and blasting techniques engineered to fragment the backfi

  20. Slide 20: Best Decade In 80 Year History Is Ahead

    HECLA MINING COMPANY NYSE: HL Best Decade In 80 Year History Is Ahead LUCKY FRIDAY FEBRUARY 2025 UPDATE 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 27 26 18 1962-1971 1972-19

  21. Slide 21: Keno Hill: Largest Silver Producer In Canada

    HECLA MINING COMPANY NYSE: HL Keno Hill: Largest Silver Producer In Canada KENO HILL FEBRUARY 2025 UPDATE Land package of 88 square miles, Exploration drilling continues to confirm significant exploration potential in the district Permitting pathway to 600 tons per day is Largest required to achieve

  22. Slide 22: Keno Hill: Fourth Quarter Update

    HECLA MINING COMPANY NYSE: HL Fourth Quarter Update KENO HILL FEBRUARY 2025 UPDATE Phased approach to sustainable profitable production 2024 production achieved guidance: 2.8Moz silver production • Q4/2024 throughput impacted by delays in receiving authorization for construction and permit of dry st

  23. Slide 23: Keno Hill: Roadmap To Growth

    HECLA MINING COMPANY NYSE: HL Keno Hill: Roadmap To Growth KENO HILL FEBRUARY 2025 UPDATE 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 plant to Infrastructure (transition to underhand mining)

  24. Slide 24: Growth Path >600 TPD Needs To Meet Key Criteria

    HECLA MINING COMPANY NYSE: HL Growth Path >600 TPD Needs To Meet Key Criteria KENO HILL FEBRUARY 2025 UPDATE Return on Capital ROIC* a key factor, Investment should meet a minimum hurdle rate, potentially up to 15% Criteria Evaluation Exploration Success for Growth Risk Assessment Additional resourc

  25. Slide 25: Development - Bermingham

    HECLA MINING COMPANY NYSE: HL Development - Bermingham KENO HILL FEBRUARY 2025 UPDATE Development plan: Looking southeast Production shapes: Looking southeast Initial Etta Zone Initial Production Production Area Arctic Zone Area Arctic Zone Bear Bear Zone Zone Bermingham Deep ~100m 25

  26. Slide 26: Development – Flame & Moth

    HECLA MINING COMPANY NYSE: HL Development – Flame & Moth KENO HILL FEBRUARY 2025 UPDATE Development plan: Looking northwest Production shapes: Initial Production Area Christal Zone Lightning Zone ~100m 26

  27. Slide 27: Casa Berardi: Gold Exposure In Quebec

    HECLA MINING COMPANY NYSE: HL Casa Berardi: Gold Exposure In Quebec CASA BERARDI FEBRUARY 2025 UPDATE Long-term value creation with future higher- grade pits Mining higher margin stopes of west Transitioning underground mine, expected until mid-2025 to full surface operation Principal and WMCP* open

  28. Slide 28: Montana Assets: 3rd Largest Undeveloped Copper Deposit In The U.S.

    HECLA MINING COMPANY Montana Assets: 3rd Largest Undeveloped Copper Deposit In The NYSE: HL U.S. FEBRUARY 2025 UPDATE Located 50 miles from Lucky Friday with Working to advance underground data great exploration potential collection and permitting Permitting strategy -  Executing strategy to expedi

  29. Slide 29: Financial Review

    FINANCIAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 29

  30. Slide 30: Fourth Quarter Financial Highlights

    HECLA MINING COMPANY NYSE: HL Fourth Quarter Financial Highlights FEBRUARY 2025 UPDATE 2024 Revenues By Metal Net Debt to Adjusted EBITDA Siver accounts for 44% of revenues Net Leverage Ratio of 1.6x Silver Gold Lead Zinc Adjusted EBITDA (1) Net Leverage Ratio (1) 350 2.7x $2.80 $2.60 15% 300 $2.40

  31. Slide 31: 2024 Revenue, Production, And Cost Highlights

    HECLA MINING COMPANY NYSE: HL 2024 Revenue, Production, And Cost Highlights FEBRUARY 2025 UPDATE Silver Gold Lead Zinc Silver Production: 16.2Moz Total Cost of Sales(7): $487.6M Total 2024 Silver Cash Costs, after by-product credits(5): $2.72/oz Margins(3): $15.52/oz 14% AISC, after by-product credi

  32. Slide 32: Strong Silver Margins Drive Free Cash Flow Generation

    HECLA MINING COMPANY NYSE: HL Strong Silver Margins Drive Free Cash Flow Generation FEBRUARY 2025 UPDATE Strong Silver Margins Free Cash Flow: Greens Creek, Lucky Friday ($/silver ounce) ($ Millions) Free Cash Flow (2) Margins are ~50% of silver price AISC (4) Realized Price Margin (4) Realized Silv

  33. Slide 33: Guidance

    GUIDANCE RESPONSIBLE. SAFE. INNOVATIVE.

  34. Slide 34: Guidance – Strong Silver Margins And Production

    HECLA MINING COMPANY NYSE: HL Guidance – Strong Silver Margins And Production FEBRUARY 2025 UPDATE 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 – 210 Lucky Friday * 4.7 – 5.1 N/A 8.0 – 8.5 90 – 95 2025

  35. Slide 35: Silver Market

    SILVER MARKET RESPONSIBLE. SAFE. INNOVATIVE. 35

  36. Slide 36: The World’s Growing Needs For Silver

    HECLA MINING COMPANY NYSE: HL The World’s Growing Needs For Silver FEBRUARY 2025 UPDATE Five distinct periods of silver demand, three that Despite decrease in photographic demand, total are strengthening demand increased 35%, or 307Moz due to the increase in industrial and investment demand  Moneta

  37. Slide 37: Silver Supply And Demand

    HECLA MINING COMPANY NYSE: HL Silver Supply And Demand FEBRUARY 2025 UPDATE 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% Mine Prod. - and Investm

  38. Slide 38: Solar Will Be The Largest Source Of Electricity

    HECLA MINING COMPANY NYSE: HL Solar Will Be The Largest Source Of Electricity FEBRUARY 2025 UPDATE 1 Gigawatt (GW) of solar capacity requires 0.45Moz of silver U.S. Electricity Generation Sources: 2000-2050 2022 Solar projected to be 33% of total Gigawatt history | projections U.S. energy generation

  39. Slide 39: Photovoltaic (PV) Demand For Silver Is Growing

    HECLA MINING COMPANY NYSE: HL Photovoltaic (PV) Demand For Silver Is Growing FEBRUARY 2025 UPDATE PV Installations (Gigawatts) and Silver Silver Used in PVs, 2013-2024F** Loadings*,** PV Installations Ag Loading Moz PV Installations Silver Loading 240 232 Gigawatts Index 2014 = 100 700 100 220 90 20

  40. Slide 40: More Efficient PV Technologies Use More Silver And Are Gaining Market Share

    HECLA MINING COMPANY More Efficient PV Technologies Use More Silver And Are Gaining NYSE: HL Market Share FEBRUARY 2025 UPDATE Silver Content in PV Technologies Market Share of PV Technologies Mg Silver/Watt Higher silver using technologies are gaining 22 market share PV Installations Newer, more ef

  41. Slide 41: Silver Deficit Is Expected To Continue

    HECLA MINING COMPANY NYSE: HL Silver Deficit Is Expected To Continue FEBRUARY 2025 UPDATE Silver demand is buoyed by PVs with newer silver technologies that use more silver  In 2023, silver deficit was 184Moz, 2024 forecast deficit is 183Moz*  Expect silver deficit to persist with increasing use o

  42. Slide 42: Exploration

    EXPLORATION RESPONSIBLE. SAFE. INNOVATIVE. 42

  43. Slide 43: Unique Exploration Due To Silver, Jurisdictions, Infrastructure, Potential, Grade And Capital

    HECLA MINING COMPANY Unique Exploration Due To Silver, Jurisdictions, Infrastructure, NYSE: HL Potential, Grade And Capital FEBRUARY 2025 UPDATE 43

  44. Slide 44: $28M Exploration Budget for 2025

    HECLA MINING COMPANY NYSE: HL Discovering And Expanding Resources FEBRUARY 2025 UPDATE Greens Creek ($9M) Focus on resource expansion and conversion to expand $28M and upgrade multiple ore zones Exploration Budget for 2025, focused on Keno Hill ($8.4M) Greens Creek and Exploration and definition dri

  45. Slide 45: Highly Prospective Land Package In A Historical District

    HECLA MINING COMPANY NYSE: HL Highly Prospective Land Package In A Historical District KENO HILL FEBRUARY 2025 UPDATE  Historical production of over 200Moz of silver Silver District: Excellent Potential at 40 oz/Ag per ton Grades are 2x Greens Creek’s historical grades  Property contains excellen

  46. Slide 46: Underground and Surface Drilling Continue To Expand Mineralization

    HECLA MINING COMPANY Underground and Surface Drilling Continue To Expand NYSE: HL Mineralization KENO HILL FEBRUARY 2025 UPDATE Bermingham Mine Surface Exploration Drilling targeted the veins of the Bear Zone  Drilling targeted the Bermingham Deep, Hector Calumet, and Inca  7,100 feet of drilling

  47. Slide 47: Bermingham Underground Drilling Identifies New High-Grade Ore Shoot At Depth

    HECLA MINING COMPANY Bermingham Underground Drilling identifies New High-Grade Ore NYSE: HL Shoot At Depth, Open for Expansion KENO HILL FEBRUARY 2025 UPDATE Cross Section of Significant Upside with Footwall Vein Open at Depth Bermingham Veins Existing Mine Infrastructure Bermingham drilling signifi

  48. Slide 48: Environmental, Social, Governance

    Environmental, Social, Governance Our sustainable ESG Corporate Governance responsibilities RESPONSIBLE. SAFE. INNOVATIVE. 48

  49. Slide 49: Committed To Responsible Mining

    HECLA MINING COMPANY NYSE: HL Committed To Responsible Mining FEBRUARY 2025 UPDATE Mining Metals for a Green Energy Future Net zero on emissions in 2021, 2022 Well-established safety culture Hecla Charitable Foundation and 2023* San Sebastian Mine received the Casa Berardi received the Largest priva

  50. Slide 50: Sustainability Rating Agency Scores: Significant Improvements Since 2019

    HECLA MINING COMPANY Sustainability Rating Agency Scores: Significant Improvements NYSE: HL Since 2019 FEBRUARY 2025 UPDATE Agency Progression in ESG Scores • Overall Score increased from 53rd 38 40 percentile to 77th percentile • Environmental Score increased to 24 83rd percentile 15 13 • Social Sc

  51. Slide 51: ESG Performance And Ratings

    HECLA MINING COMPANY NYSE: HL ESG Performance And Ratings FEBRUARY 2025 UPDATE Ranking: 40 Score: 32.1 (0 best, 100 worst) 76th Percentile Industry 56/107, 52nd percentile Subindustry 18/25, 71st percentile Rating: A Rating: C Score: 6.3 Environment: 5 (1 best, 10 worst) Social: 6 (1 best, 10 worst)

  52. Slide 52: Hecla Is Among The Safest Mining Companies

    HECLA MINING COMPANY NYSE: HL Hecla Is Among The Safest Mining Companies FEBRUARY 2025 UPDATE Implemented NMA’s CORESafety standards in 2012, became Industry leader All-Injury Frequency Rate Hecla’s 1.86 rate has seen a 6.06 70% reduction since 2012 5.35 5.41 Industry leading 4.57 70% reduction sinc

  53. Slide 53: Committed To Our Communities

    HECLA MINING COMPANY NYSE: HL Committed To Our Communities FEBRUARY 2025 UPDATE Largest private employer within the Total economic impact in 2023 communities we operate, jobs and benefits that last a lifetime $855M  Total direct economic impact of $855 Hecla Corporate Montana million $103M $2.5M Gr

  54. Slide 54: Appendix: End Notes and GAAP Reconciliations

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 54

  55. Slide 55: End Notes

    HECLA MINING COMPANY NYSE: HL End Notes FEBRUARY 2025 UPDATE 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 important measure for manageme

  56. Slide 56: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 56

  57. Slide 57: Adjusted EBITDA

    HECLA MINING COMPANY NYSE: HL Adjusted EBITDA FEBRUARY 2025 UPDATE 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 expense 49,834 43,319 Income and mining tax expense 30,41

  58. Slide 58: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP FEBRUARY 2025 UPDATE 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, per Ounce and All-In Susta

  59. Slide 59: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP FEBRUARY 2025 UPDATE 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 Credits, per Ounce and All-In

  60. Slide 60: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP FEBRUARY 2025 UPDATE 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 Credits, per Ounce and All-In

  61. Slide 61: Cash Cost And AISC Reconciliation To GAAP

    HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP FEBRUARY 2025 UPDATE 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 Credits, per Ounce and All-In

  62. Slide 62: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL Free Cash Flow (Non-GAAP) Reconciliation FEBRUARY 2025 UPDATE 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 2023 2022 2021 2020 in millions Cash provided by opera

  63. Slide 63: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL Free Cash Flow (Non-GAAP) Reconciliation FEBRUARY 2025 UPDATE 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 provided by operating activities 881 187 157 151 209 17

  64. Slide 64: Mineral Reserves and Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 64

  65. Slide 65: Mineral Reserves – 12/31/2024 (1/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (1/4) FEBRUARY 2025 UPDATE 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 100.0% 9 7.6 0.07 2.4 6.5 70 1 220 600 Creek (2,3) Luc

  66. Slide 66: Mineral Reserves – 12/31/2024 (2/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (2/4) FEBRUARY 2025 UPDATE 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 Greens 100.0% 10,438 9.9 0.08 2.3 6.2 103,641 864 240,450 6

  67. Slide 67: Mineral Reserves – 12/31/2024 (3/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (3/4) FEBRUARY 2025 UPDATE 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 Tons Greens 100.0% 10,447 9.9 0.08 2.3 6.2 103,771 865 2

  68. Slide 68: Mineral Reserves – 12/31/2024 (4/4)

    HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (4/4) FEBRUARY 2025 UPDATE 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 person, can be the basis of an economically viable proje

  69. Slide 69: Mineral Resources - 12/31/2024 (1/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (1/6) FEBRUARY 2025 UPDATE 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) Greens Creek(12,13) 100.0% - -

  70. Slide 70: Mineral Resources - 12/31/2024 (2/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (2/6) FEBRUARY 2025 UPDATE 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) Greens Creek(12,13) 100.0% 7

  71. Slide 71: Mineral Resources - 12/31/2024 (3/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (3/6) FEBRUARY 2025 UPDATE 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) (Tons) Greens Creek(12,13) 1

  72. Slide 72: Mineral Resources - 12/31/2024 (4/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (4/6) FEBRUARY 2025 UPDATE 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) Greens Creek(12,13) 100.0% 1,

  73. Slide 73: Mineral Resources - 12/31/2024 (5/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (5/6) FEBRUARY 2025 UPDATE 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 26.5k tons of proven reserves at Casa Berardi . Mineral

  74. Slide 74: Mineral Resources - 12/31/2024 (6/6)

    HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (6/6) FEBRUARY 2025 UPDATE 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-off value of $72.6/ton ($80/tonne); Metallurgical recov

  75. Slide 75: Thank You

    THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.

Hecla Mining Company — Investor Presentation (February 2025) on 6ix