Slide 1: Largest U.S. and Canadian silver producer
Largest U.S. and Canadian silver producer Prospectors & Developers Association of Canada March 4, 2025 RESPONSIBLE. SAFE. INNOVATIVE.
Slide 2: Cautionary Statements
HECLA MINING COMPANY NYSE: HL Cautionary Statements Prospectors & Developers Association of Canada March 4, 2025 Cautionary Statement Regarding Forward-Looking Statements Qualified Person (QP) This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities
Slide 3: Storied Past, Forward-Looking Vision
HECLA MINING COMPANY NYSE: HL Storied Past, Forward-Looking Vision Prospectors & Developers Association of Canada March 4, 2025 Drive continuous improvement through automation and Operational advanced analytics Excellence Standardize systems and processes Improve mine planning Portfolio Stra
Slide 4: Best In Class Silver Portfolio
HECLA MINING COMPANY NYSE: HL Leading Silver Producer In Best Mining Jurisdictions Prospectors & Developers Association of Canada March 4, 2025 Silver Operations in Lowest Risk Jurisdictions Largest U.S. and Canadian silver producer, 3rd largest primary silver producer globally* Best In Class Silver
Slide 5: Largest Silver Producer In The U.S. & Canada
HECLA MINING COMPANY NYSE: HL Largest Silver Producer In The U.S. & Canada Prospectors & Developers Association of Canada March 4, 2025 2023 World Production of Silver 2023 U.S. Silver Production (Moz) 13.4 23% Mexico Three countries Peru produce ~48% of China 48% the world’s silver 12% USA producti
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 Prospectors & Developers Association of Canada March 4, 2025 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 rese
Slide 7: Greens Creek: Cornerstone Mine, Foundation Of Our Future
HECLA MINING COMPANY NYSE: HL Greens Creek: Cornerstone Mine, Foundation Of Our Future GREENS CREEK Prospectors & Developers Association of Canada March 4, 2025 Low-cost structure with AISC in best 15th percentile of cost curve of primary silver mines* History of continuous improvement since 2008 •
Slide 8: Lucky Friday: 2nd Cornerstone Mine
HECLA MINING COMPANY NYSE: HL Lucky Friday: 2nd Cornerstone Mine Prospectors & Developers LUCKY FRIDAY Association of Canada March 4, 2025 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
Slide 9: Best Decade In 80 Year History Is Ahead
HECLA MINING COMPANY NYSE: HL Best Decade In 80 Year History Is Ahead Prospectors & Developers LUCKY FRIDAY Association of Canada March 4, 2025 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+ y
Slide 10: Keno Hill: Largest Silver Producer In Canada
HECLA MINING COMPANY NYSE: HL Keno Hill: Largest Silver Producer In Canada Prospectors & Developers KENO HILL Association of Canada March 4, 2025 Land package of 88 square miles, Exploration drilling continues to confirm significant exploration potential in the district Permitting pathway to 600 ton
Slide 11: Capital Allocation Priorities
HECLA MINING COMPANY NYSE: HL Capital Allocation Priorities Prospectors & Developers Association of Canada March 4, 2025 Capital allocation prioritizes investment in operations focused on high- return projects Investment & Growth Deleveraging Shareholder Returns Invest in organic production Net
Slide 12: Appendix
APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 12
Slide 13: Guidance – Strong Silver Margins And Production
HECLA MINING COMPANY NYSE: HL Guidance – Strong Silver Margins And Production Prospectors & Developers Association of Canada March 4, 2025 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
Slide 14: End Notes
HECLA MINING COMPANY NYSE: HL End Notes Prospectors & Developers Association of Canada March 4, 2025 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.
Slide 15: GAAP Reconciliations
GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 15
Slide 16: Adjusted EBITDA
HECLA MINING COMPANY NYSE: HL Adjusted EBITDA Prospectors & Developers Association of Canada March 4, 2025 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
Slide 17: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP Prospectors & Developers Association of Canada March 4, 2025 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-pro
Slide 18: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP Prospectors & Developers Association of Canada March 4, 2025 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
Slide 19: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP Prospectors & Developers Association of Canada March 4, 2025 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
Slide 20: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY NYSE: HL Cash Cost And AISC Reconciliation To GAAP Prospectors & Developers Association of Canada March 4, 2025 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
Slide 21: Free Cash Flow (Non-GAAP) Reconciliation
HECLA MINING COMPANY NYSE: HL Free Cash Flow (Non-GAAP) Reconciliation Prospectors & Developers Association of Canada March 4, 2025 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
Slide 22: Free Cash Flow (Non-GAAP) Reconciliation
HECLA MINING COMPANY NYSE: HL Free Cash Flow (Non-GAAP) Reconciliation Prospectors & Developers Association of Canada March 4, 2025 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 ope
Slide 23: Mineral Reserves and Resources
MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 23
Slide 24: Mineral Reserves – 12/31/2024 (1/4)
HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (1/4) Prospectors & Developers Association of Canada March 4, 2025 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
Slide 25: Mineral Reserves – 12/31/2024 (2/4)
HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (2/4) Prospectors & Developers Association of Canada March 4, 2025 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% 10,43
Slide 26: Mineral Reserves – 12/31/2024 (3/4)
HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (3/4) Prospectors & Developers Association of Canada March 4, 2025 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.
Slide 27: Mineral Reserves – 12/31/2024 (4/4)
HECLA MINING COMPANY NYSE: HL Mineral Reserves – 12/31/2024(1) (4/4) Prospectors & Developers Association of Canada March 4, 2025 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 t
Slide 28: Mineral Resources - 12/31/2024 (1/6)
HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (1/6) Prospectors & Developers Association of Canada March 4, 2025 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) (Ton
Slide 29: Mineral Resources - 12/31/2024 (2/6)
HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (2/6) Prospectors & Developers Association of Canada March 4, 2025 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) (T
Slide 30: Mineral Resources - 12/31/2024 (3/6)
HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (3/6) Prospectors & Developers Association of Canada March 4, 2025 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) (T
Slide 31: Mineral Resources - 12/31/2024 (4/6)
HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (4/6) Prospectors & Developers Association of Canada March 4, 2025 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) (To
Slide 32: Mineral Resources - 12/31/2024 (5/6)
HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (5/6) Prospectors & Developers Association of Canada March 4, 2025 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 p
Slide 33: Mineral Resources - 12/31/2024 (6/6)
HECLA MINING COMPANY NYSE: HL Mineral Resources - 12/31/2024(8) (6/6) Prospectors & Developers Association of Canada March 4, 2025 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 $7
Slide 34: Thank You
THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.