Hecla Mining Company · NYSE:HL

Hecla Mining — Investor Presentation (January 2024)

74 slides from Hecla Mining's investor presentation, January 2024

  1. Slide 1: January 2024 Update

    Largest U.S. silver producer, soon-to-be largest Canadian silver producer JANUARY 2024 UPDATE RESPONSIBLE. SAFE. INNOVATIVE.

  2. Slide 2: Cautionary Statements

    HECLA MINING COMPANY NYSE: HL CAUTIONARY STATEMENTS JANUARY 2024 UPDATE Cautionary Statement Regarding Forward-Looking Statements unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-look

  3. Slide 3: What Makes Hecla the Premier Silver Investment

    HECLA MINING COMPANY NYSE: HL WHAT MAKES HECLA THE PREMIER SILVER INVESTMENT JANUARY 2024 UPDATE Best In Class Silver Portfolio  Largest Silver Producer in the World’s Best Mining Jurisdictions -  Largest U.S. silver producer (45%), Canada’s largest by 2024, 3rd largest primary silver producer glo

  4. Slide 4: Safe and Sustainable Mining

    HECLA MINING COMPANY NYSE: HL SAFE AND SUSTAINABLE MINING JANUARY 2024 UPDATE All-Injury Frequency Rate of 1.34 (*)  28% lower than the U.S. average  Reduced by 78% since 2012 ~57,000 hours of safety and health training  Lowest in Hecla history for employees and contractors Small environmental fo

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

    HECLA MINING COMPANY NYSE: HL LARGEST SILVER PRODUCER IN THE U.S. & SOON, CANADA JANUARY 2024 UPDATE World Production of Silver 2022 U.S. Silver Production (Moz) 24% Mexico Three countries Peru 14.2 Hecla is the largest silver produce ~51% of 45% China producer in the U.S. and is the world’s silver

  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 JANUARY 2024 UPDATE Silver Reserves and Reserve Grade* Silver Reserves (Moz) Silver Grade (g/t) Silver Reserves (Moz) in U.S. and Canada 577 457 448 313 246 241 217 205 169 117 108 62 62 23 16 34 35 20 Pan American Fr

  7. Slide 7: Low-Cost Profile Silver Assets

    HECLA MINING COMPANY NYSE: HL LOW-COST PROFILE SILVER ASSETS JANUARY 2024 UPDATE Silver AISC Curve of Hecla and Silver Peers*– 12 Months Ended December 31, 2022 US$/oz AISC Hecla Silver Peers* 15.60 16.50 20.00 13.10 19.70 16.30 11.30 11.50 - 20,000 40,000 60,000 80,000 100,000 Silver Production (Kt

  8. Slide 8: Leading Dividend Policy with Silver Linked Dividend

    HECLA MINING COMPANY NYSE: HL LEADING DIVIDEND POLICY WITH SILVER LINKED DIVIDEND JANUARY 2024 UPDATE Industry’s only silver-linked dividend policy pays an annual base dividend (1.5 cents per share) plus a silver price- linked dividend that starts at $20/oz silver price. Silver Linked Dividends $8.0

  9. Slide 9: Our Operations

    OUR OPERATIONS Silver mines are in the best third of cost curve RESPONSIBLE. SAFE. INNOVATIVE. 9

  10. Slide 10: Greens Creek: Flagship Mine

    HECLA MINING COMPANY NYSE: HL GREENS CREEK: FLAGSHIP MINE GREENS CREEK JANUARY 2024 UPDATE Location: Admiralty Island, Alaska Type: Underground Metals: Silver, Gold, Lead, Zinc Silver Reserves: 117Moz at 10.9 opt Reserve Life: 13 Years Energy Use: 88% of electricity is line power, of which 100% is r

  11. Slide 11: World's 11th Largest Silver Mine

    HECLA MINING COMPANY NYSE: HL WORLD’S 11th LARGEST SILVER MINE GREENS JANUARYCREEK 2024 UPDATE Since 1987, Greens Creek has: Mined more than -  20 million tons, containing 345Moz Silver, 2.8Moz, Gold, 4.0Blbs Zinc, 1.6Blbs Lead Generated more than -  $2.8 billion in cash flow from operations  $1.

  12. Slide 12: Continuous Improvement Since Acquisition

    HECLA MINING COMPANY NYSE: HL CONTINUOUS IMPROVEMENT SINCE ACQUISITION GREENS JANUARYCREEK 2024 UPDATE Mill Throughput, 2008 – 2023 Silver Mill Recoveries, 2008 - 2023 Tons per Day % 25% increase in 7% Increase in silver throughput since 2008 recoveries since 2008 2,506 2,415 82 80 2,229 2,236 78 2,

  13. Slide 13: Consistency & Innovation: Free Cash Flow Engine

    HECLA MINING COMPANY NYSE: HL CONSISTENCY & INNOVATION  FREE CASH FLOW ENGINE GREENS JANUARYCREEK 2024 UPDATE Cumulative Cash Flow from Operations, Free Cash Flow* 2,857 Free Cash Flow 2,716 Cash Flow from Operations 2,506 Low-cost structure, high 2,328 108% grades, low capital 2,193 requirements g

  14. Slide 14: Lucky Friday: Positioned for Growth

    HECLA MINING COMPANY NYSE: HL LUCKY FRIDAY: POSITIONED FOR GROWTH LUCKY FRIDAY JANUARY 2024 UPDATE Location: Mullan, Idaho Type: Underground Metals: Silver, Lead, Zinc Silver Reserves: 75Moz at 13.4 opt Reserve Life: 17 Years Energy Use: 60% of electricity is from renewable hydropower, with the rema

  15. Slide 15: Innovation Driven Growth

    HECLA MINING COMPANY NYSE: HL INNOVATION DRIVEN GROWTH LUCKY FRIDAY JANUARY 2024 UPDATE 2nd Cornerstone Asset with 17+ years in reserves  Poised to be a 5Moz producer with throughput of 425Ktons per year (1,180 tons per day) in 2024  Underhand Closed Bench (UCB) mining method – a testament to Hecl

  16. Slide 16: Completed Mitigation Plans for Secondary Egress

    HECLA MINING COMPANY NYSE: HL COMPLETED MITIGATION PLANS FOR SECONDARY EGRESS LUCKY FRIDAY JANUARY 2024 UPDATE Vent Bypass Raise Escape Raise and Ramp Escape Raise 290 feet 4050 Alimak Ventilation Raise 850 feet Ramp – 1,600 feet 16

  17. Slide 17: Strong Labor Relations

    HECLA MINING COMPANY NYSE: HL STRONG LABOR RELATIONS LUCKY FRIDAY JANUARY 2024 UPDATE Union ratification of labor contract in January 2023 solidifies Lucky Friday’s growth  No material changes; work rules are largely unchanged Key terms  Term of agreement – 6 years and 4 months  Longest contract

  18. Slide 18: Higher Grades at Depth, Underhand Closed Bench Method

    HIGHER GRADES AT DEPTH, SUPPORTED BY THE UNDERHAND HECLA MINING COMPANY NYSE: HL CLOSED BENCH MINING METHOD LUCKY FRIDAY JANUARY 2024 UPDATE Lucky Friday Long Section 30 Vein – *AgEq Grade (opt) < 10 10 - 20 20 - 30 MINED 1997 – 2021 30 - 35 > 35 Increasing grades at December 31, 2022 6500 LEVEL dep

  19. Slide 19: Underhand Closed Bench Method

    HECLA MINING COMPANY NYSE: HL UNDERHAND CLOSED BENCH METHOD LUCKY FRIDAY JANUARY 2024 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 backfil

  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 JANUARY 2024 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 1972-198

  21. Slide 21: Keno Hill: Production Growth in Yukon

    HECLA MINING COMPANY NYSE: HL KENO HILL: PRODUCTION GROWTH IN YUKON KENO HILL JANUARY 2024 UPDATE Location: Yukon, Canada Type: Underground Metals: Silver, Lead, Zinc Silver Reserves: 49 Moz at 22.5 opt Reserve Mine Life: 8+ Years Energy Use: 86% of electricity is from renewable hydropower and wind

  22. Slide 22: Largest Primary Silver Reserves in Canada

    HECLA MINING COMPANY NYSE: HL LARGEST PRIMARY SILVER RESERVES IN CANADA KENO HILL JANUARY 2024 UPDATE Positioned to be Canada’s largest silver producer  33% increase in silver reserves to ~50Moz at 22.5 opt since acquisition in 2022  Land package of 88 square miles, Significant regional potential

  23. Slide 23: Development – Bermingham

    HECLA MINING COMPANY NYSE: HL DEVELOPMENT – BERMINGHAM KENO HILL JANUARY 2024 UPDATE Development plan: Looking southeast Production shapes: Initial Production Arctic Zone Area Bear Zone ~100m Bermingham Deep 23

  24. Slide 24: Development – Flame & Moth

    HECLA MINING COMPANY NYSE: HL DEVELOPMENT – FLAME & MOTH KENO HILL JANUARY 2024 UPDATE Development plan: Looking northwest Production shapes: Initial Production Area Christal Zone Lightning Zone ~100m 24

  25. Slide 25: Casa Berardi: Gold Exposure in Quebec

    HECLA MINING COMPANY NYSE: HL CASA BERARDI: GOLD EXPOSURE IN QUEBEC CASA BERARDI JANUARY 2024 UPDATE Location: Quebec, Canada Type: Open Pit/Underground Metals: Gold Gold Reserves: 1.6Moz at 0.09 opt Reserve Mine Life: 14 Years Energy Use: 100% of electricity is from renewable hydropower 2022 Direct

  26. Slide 26: Casa Berardi: Executing on Surface Transition Plan

    HECLA MINING COMPANY NYSE: HL CASA BERARDI: EXECUTING ON SURFACE TRANSITION PLAN CASA BERARDI JANUARY 2024 UPDATE Improved operational and cost performance in 2023  2023 gold production of 90.3Koz, achieving guidance  On track to achieve cost guidance 2023 Performance and Guidance Q3 2023 YTD 2023

  27. Slide 27: Open Pit Transition Can Unlock Significant Value

    HECLA MINING COMPANY NYSE: HL OPEN PIT TRANSITION CAN UNLOCK SIGNIFICANT VALUE CASA BERARDI JANUARY 2024 UPDATE Casa Berardi: Conceptually divided in three phases* I. Mining the F160 pit II. Preparation for high-grade pits III. Mining higher-grade pits Aggregate free cash flow Investment phase with

  28. Slide 28: Montana Assets: 3rd Largest Undeveloped Copper Deposit in the U.S.

    MONTANA ASSETS: 3rd LARGEST UNDEVELOPED COPPER DEPOSIT IN HECLA MINING COMPANY NYSE: HL THE U.S. JANUARY 2024 UPDATE Located 50 miles from Lucky Friday with great Working to advance underground data exploration potential collection and permitting Permitting strategy Overview and Inferred Resources (

  29. Slide 29: Financial Review

    FINANCIAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 29

  30. Slide 30: Committed to a Strong Balance Sheet

    HECLA MINING COMPANY NYSE: HL COMMITTED TO A STRONG BALANCE SHEET JANUARY 2024 UPDATE Financial flexibility and leverage ratio of <2x are top priorities Q1-Q3 2023, Revenues By Net Debt to Adjusted EBITDA Cash and Liquidity Metal YTD 2023: Free cash flow from silver Net debt to Adjusted EBITDA ratio

  31. Slide 31: Silver Margins Are Best in the Industry

    HECLA MINING COMPANY NYSE: HL SILVER MARGINS ARE BEST IN THE INDUSTRY JANUARY 2024 UPDATE Strong Silver Margins Free Cash Flow: Greens Creek, Lucky Friday ($/silver ounce) ($ million) AISC (4) Realized Price Margin (4) Realized Silver Price (3) Free Cash Flow (2) $25.24 2020 – Q1-Q3/2023: $23.28 $21

  32. Slide 32: Q1-Q3/2023 Revenue, Production, and Cost Highlights

    HECLA MINING COMPANY NYSE: HL Q1-Q3/2023 REVENUE, PRODUCTION, AND COST HIGHLIGHTS JANUARY 2024 UPDATE Silver Gold Lead Zinc Silver Production: 11.4Moz Total Cost of Sales(7): $288.3M YTD 2023 Silver Cash Costs, after by-product credits(5): $2.86/oz 15% Margins(3): $12.76/oz AISC, after by-product cr

  33. Slide 33: Guidance

    GUIDANCE RESPONSIBLE. SAFE. INNOVATIVE.

  34. Slide 34: 2023 Guidance: Production and Costs by Operation

    HECLA MINING COMPANY NYSE: HL 2023 GUIDANCE: PRODUCTION AND COSTS BY OPERATION JANUARY 2024 UPDATE Silver Production (Moz) Gold Production (Koz) Silver Equivalent (Moz)6 Gold Equivalent (Koz)6 Greens Creek* 9.8 – 10 55 – 65 22.0 – 23.0 265 – 277 Actual 9.7 61 Lucky Friday* 3.0 N/A 5.5 65 Actual 3.1

  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 JANUARY 2024 UPDATE Five distinct periods of silver demand, three that Despite decrease in photographic demand, total are strengthening demand increased 40%, or 345Moz due to the increase in industrial and investment demand  Monetar

  37. Slide 37: Silver Supply and Demand

    HECLA MINING COMPANY SILVER SUPPLY AND DEMAND NYSE: HL JANUARY 2024 UPDATE 2022 SILVER DEMAND: 1,242MOZ 2022 SILVER SUPPLY: 1,005MOZ Other 3% Photo Recycling Mine Prod. - Jewelry and Other 18% voltaics Primary Silver Silverware 24% 25% 23% 25% Industrial and Consumer Products Brazing 45% Alloys Elec

  38. Slide 38: Silver Is Essential in Solar Electricity Generation

    HECLA MINING COMPANY NYSE: HL SILVER IS ESSENTIAL IN SOLAR ELECTRICITY GENERATION JANUARY 2024 UPDATE 1 GW of solar capacity requires 0.5Moz of silver U.S. Electricity Generation by Fuel: 2000-2050 Solar could account 2022 for 33% of total U.S. Gigawatt history | projections 6,000 energy generation

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

    HECLA MINING COMPANY NYSE: HL PHOTOVOLTAIC (PV) DEMAND FOR SILVER IS GROWING JANUARY 2024 UPDATE PV Installations (Gigawatts) and Silver Silver Used in PVs, 2013-2024F** Loadings*,** PV Installations Ag Loading Moz PV Installations Silver Loading Gigawatts Index 2013 = 100 201 200 500 100 447 180 17

  40. Slide 40: Silver Deficit Is Expected to Continue

    HECLA MINING COMPANY NYSE: HL SILVER DEFICIT IS EXPECTED TO CONTINUE JANUARY 2024 UPDATE Silver demand is buoyed by PVs with newer silver technologies that use more silver  In 2022, silver deficit was 238Moz, 2023 forecast deficit is 142Moz*  Expect silver deficit to persist with increasing use of

  41. Slide 41: Widening Gap Between Silver Supply and Demand

    HECLA MINING COMPANY NYSE: HL WIDENING GAP BETWEEN SILVER SUPPLY AND DEMAND JANUARY 2024 UPDATE Silver Supply and Demand: 2022 and 2030E (Millions oz) Supply needs to grow by >70Moz per year by 2030 with only 1.5% 1,187 growth in industrial demand 1,117 Supply shortfall of 112Moz in 2022 was filled

  42. Slide 42: Exploration

    EXPLORATION RESPONSIBLE. SAFE. INNOVATIVE. 42

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

    UNIQUE EXPLORATION DUE TO SILVER, JURISDICTIONS, HECLA MINING COMPANY NYSE: HL INFRASTRUCTURE, POTENTIAL, GRADE, AND CAPITAL JANUARY 2024 UPDATE 43

  44. Slide 44: Discovering and Expanding Resources

    HECLA MINING COMPANY NYSE: HL DISCOVERING AND EXPANDING RESOURCES JANUARY 2024 UPDATE Greens Creek Keno Hill Focus on resource Definition drilling at expansion and Bermingham and conversion to expand Flame & Moth; and upgrade multiple Exploration drilling in ore zones underexplored areas Casa Berard

  45. Slide 45: Greens Creek: A World Class Land Package

    HECLA MINING COMPANY NYSE: HL GREENS CREEK: A WORLD CLASS LAND PACKAGE JANUARY 2024 UPDATE Large and prospective land holdings - Underground and Surface Exploration Targets  17 Patented Lode Claims  7,301 Acres (Land Exchange) to which we Underground Surface possess subsurface mineral rights  440

  46. Slide 46: Keno Hill: Exploration Drilling Confirms Significant Potential

    KENO HILL: EXPLORATION DRILLING CONFIRMS SIGNIFICANT HECLA MINING COMPANY NYSE: HL POTENTIAL JANUARY 2024 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 excellent exp

  47. Slide 47: Exploration Drilling Confirms Significant Potential

    HECLA MINING COMPANY NYSE: HL EXPLORATION DRILLING CONFIRMS SIGNIFICANT POTENTIAL KENO HILL JANUARY 2024 UPDATE Longitudinal section of the Longitudinal section of the Bermingham mineralization Bear Vein looking SE Footwall Vein looking SE extending to the northeast and down dip  High-grade mineral

  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 JANUARY 2024 UPDATE Mining Metals for a Green Energy Future Net zero on emissions in 2021 Well-established safety culture Hecla Charitable Foundation and 2022* San Sebastian Mine received the Casa Berardi received the Largest private-sect

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

    SUSTAINABILITY RATING AGENCY SCORES: SIGNIFICANT HECLA MINING COMPANY NYSE: HL IMPROVEMENTS SINCE 2019 JANUARY 2024 UPDATE Agency Progression in ESG Scores • Overall Score increased from 53rd percentile to 74th percentile 38 • Governance Score increased to 24 78th percentile 15 13 • Environmental Sc

  51. Slide 51: Hecla Is Among the Safest Mining Companies

    HECLA MINING COMPANY NYSE: HL HECLA IS AMONG THE SAFEST MINING COMPANIES JANUARY 2024 UPDATE Implemented NMA’s CORESafety standards in 2012, became Industry leader All-Injury Frequency Rate Hecla’s 1.34 rate is 28% better 6.06 than national average 5.35 5.41 4.57 Industry leading 78% reduction since

  52. Slide 52: Committed to Our Communities

    HECLA MINING COMPANY NYSE: HL COMMITED TO OUR COMMUNITIES JANUARY 2024 UPDATE Largest private employer within the communities we operate, jobs and benefits that Total economic impact in 2022 last a lifetime  Total direct economic impact of $833 million $833M Hecla Corporate Montana  More than $845

  53. Slide 53: Appendix: End Notes and GAAP Reconciliations

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 53

  54. Slide 54: End Notes

    HECLA MINING COMPANY NYSE: HL END NOTES JANUARY 2024 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 managemen

  55. Slide 55: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 55

  56. Slide 56: Adjusted EBITDA Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL ADJUSTED EBITDA RECONCILIATION TO GAAP JANUARY 2024 UPDATE Reconciliation of Net Loss (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months Q3 2023 Q2 2023 Dollars in thousands (USD) Net loss $ (45,734) $ (46,845) Interest expense 42,194 42,358 Income and mining tax e

  57. Slide 57: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP JANUARY 2024 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 Sustai

  58. Slide 58: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP JANUARY 2024 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

  59. Slide 59: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP JANUARY 2024 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

  60. Slide 60: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP JANUARY 2024 UPDATE Keno Hill 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 Sus

  61. Slide 61: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP JANUARY 2024 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: Cash Cost and AISC Reconciliation to GAAP

    HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP JANUARY 2024 UPDATE 2023 Silver and Gold Estimates Reconciliation of 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-pr

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

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION JANUARY 2024 UPDATE Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for Greens Creek, Lucky Friday and Casa Berardi 2018 to 2022 Total Greens Creek Lucky Friday Casa Berardi in millions

  64. Slide 64: Free Cash Flow (Non-GAAP) Reconciliation

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION JANUARY 2024 UPDATE Greens Creek reconciliation of cash provided by operating activities (GAAP) to free cash flow (non-GAAP) TOTAL YTD 2023 2022 2021 2020 in millions Cash provided by operating activities 660 123 151 209 177 Addi

  65. Slide 65: Mineral Reserves and Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 65

  66. Slide 66: Proven & Probable Mineral Reserves (1/2)

    HECLA MINING COMPANY NYSE: HL PROVEN & PROBABLE MINERAL RESERVES (1/2) JANUARY 2024 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 Creek (2,3) United States 100.0% 7 16.1 0.07 2.3

  67. Slide 67: Proven & Probable Mineral Reserves (2/2)

    HECLA MINING COMPANY NYSE: HL PROVEN & PROBABLE MINERAL RESERVES (2/2) JANUARY 2024 UPDATE 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) United States 100.0% 10,675 1

  68. Slide 68: Measured & Indicated Mineral Resources (1/3)

    HECLA MINING COMPANY NYSE: HL MEASURED & INDICATED MINERAL RESOURCES (1/3) JANUARY 2024 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) Unit

  69. Slide 69: Measured & Indicated Mineral Resources (2/3)

    HECLA MINING COMPANY NYSE: HL MEASURED & INDICATED MINERAL RESOURCES (2/3) JANUARY 2024 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) Un

  70. Slide 70: Measured & Indicated Mineral Resources (3/3)

    HECLA MINING COMPANY NYSE: HL MEASURED & INDICATED MINERAL RESOURCES (3/3) JANUARY 2024 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,

  71. Slide 71: Inferred Mineral Resources

    HECLA MINING COMPANY NYSE: HL INFERRED MINERAL RESOURCES JANUARY 2024 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) (12,13) Greens Creek United States 100.0%

  72. Slide 72: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES JANUARY 2024 UPDATE Net debt 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” means an estimate of

  73. Slide 73: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES JANUARY 2024 UPDATE 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 ($100/tonne); $1,700/oz gold

  74. Slide 74: Thank You

    THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.

Hecla Mining Company — Investor Presentation (January 2024) on 6ix