Hecla Mining Company · NYSE:HL

Hecla Mining — Investor Presentation (January 2025)

74 slides from Hecla Mining's investor presentation, January 2025

1. Slide 1: January 2025 Update

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

2. Slide 2: Cautionary Statements

   HECLA MINING COMPANY NYSE: HL CAUTIONARY STATEMENTS JANUARY 2025 UPDATE 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 43-101. This presentation contai

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

   HECLA MINING COMPANY NYSE: HL 134 YEARS OF TIME-TESTED SUCCESS JANUARY 2025 UPDATE 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-Quality Portfolio of Culture

4. Slide 4: 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, JANUARY 2025 UPDATE 2023 World Production of Silver 2023 U.S. Silver Production (Moz) 23% Mexico 12.8 Three countries Peru Hecla is the largest silver produce ~48% of China t

5. Slide 5: Largest U.S./Canada Reserve Base with Highest Grades

   HECLA MINING COMPANY NYSE: HL LARGEST U.S./CANADA RESERVE BASE WITH HIGHEST GRADES JANUARY 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 542 reserve

6. Slide 6: Silver Assets Have the Highest-Grade Silver Eq. Reserves

   HECLA MINING COMPANY NYSE: HL SILVER ASSETS HAVE THE HIGHEST-GRADE SILVER EQ. RESERVES JANUARY 2025 UPDATE Silver Mines: Silver Equivalent Reserves and Reserve Grade 400 1,200 Total Silver Eq. (Moz) Silver Eq. Grade (g/t) 351 350 339 307 893 1,000 1,040 300 286 800 Silver Equivalent Grade (opt) Tota

7. Slide 7: Low-Cost Profile Silver Assets

   HECLA MINING COMPANY NYSE: HL LOW-COST PROFILE SILVER ASSETS JANUARY 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 (Kt

8. Slide 8: Capital Allocation Priorities

   HECLA MINING COMPANY NYSE: HL CAPITAL ALLOCATION PRIORITIES JANUARY 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 < 2x,  Disciplined

9. Slide 9: Committed to Responsible Mining

   HECLA MINING COMPANY NYSE: HL COMMITTED TO RESPONSIBLE MINING JANUARY 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 contr

10. Slide 10: Our Operations

    OUR OPERATIONS Silver mines are in the best third of cost curve RESPONSIBLE. SAFE. INNOVATIVE. 10

11. Slide 11: Greens Creek: Flagship Mine

    HECLA MINING COMPANY NYSE: HL GREENS CREEK: FLAGSHIP MINE GREENS JANUARYCREEK 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 largest • 25% increase in through

12. Slide 12: Greens Creek Third Quarter Update

    HECLA MINING COMPANY NYSE: HL THIRD QUARTER UPDATE GREENS JANUARYCREEK 2025 UPDATE Production of 1.9Moz, five days of unplanned mill maintenance in Q3/24 resulted in lower throughput of 2,314 tons per day (“tpd”), lower silver production • Mill maintenance extended to two unplanned days in October C

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

    HECLA MINING COMPANY NYSE: HL CONSISTENCY & INNOVATION  FREE CASH FLOW ENGINE GREENS JANUARYCREEK 2025 UPDATE 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, low capital 2,506 requirem

14. Slide 14: Continuous Improvement Since Acquisition

    HECLA MINING COMPANY NYSE: HL CONTINUOUS IMPROVEMENT SINCE ACQUISITION GREENS JANUARYCREEK 2025 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,

15. Slide 15: Lucky Friday: 2nd Cornerstone Mine

    HECLA MINING COMPANY NYSE: HL LUCKY FRIDAY: 2nd CORNERSTONE MINE LUCKY FRIDAY JANUARY 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 5

16. Slide 16: Strong Labor Relations

    HECLA MINING COMPANY NYSE: HL STRONG LABOR RELATIONS LUCKY FRIDAY JANUARY 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 his

17. Slide 17: Potential for Growth at Depth, East of 30 Vein

    HECLA MINING COMPANY POTENTIAL FOR GROWTH AT DEPTH, EAST OF 30 VEIN NYSE: HL LUCKY FRIDAY JANUARY 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 Definition

18. Slide 18: Underhand Closed Bench Method

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

19. Slide 19: Best Decade in 80 Year History Is Ahead

    HECLA MINING COMPANY NYSE: HL BEST DECADE IN 80 YEAR HISTORY IS AHEAD LUCKY FRIDAY JANUARY 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 1972-198

20. Slide 20: Keno Hill: Largest Silver Producer in Canada

    HECLA MINING COMPANY NYSE: HL KENO HILL: LARGEST SILVER PRODUCER IN CANADA KENO HILL JANUARY 2025 UPDATE Land package of 88 square miles, Exploration drilling continues to confirm significant exploration potential in the district Focus on safety, environmental, mining Largest practices to mitigate r

21. Slide 21: Keno Hill Third Quarter Update

    HECLA MINING COMPANY NYSE: HL THIRD QUARTER UPDATE KENO HILL JANUARY 2025 UPDATE BUILDING A STRONG FOUNDATION For 2024: 2.5Moz silver mined (as of October 26), 2.1Moz produced • Lower milled throughput in Q3/2024 related to delays in receiving authorization for construction and permit of dry stack t

22. Slide 22: Keno Hill: Roadmap to Growth

    HECLA MINING COMPANY NYSE: HL KENO HILL: ROADMAP TO GROWTH KENO HILL JANUARY 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) 

23. Slide 23: 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 JANUARY 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 resource

24. Slide 24: Development – Bermingham

    HECLA MINING COMPANY NYSE: HL DEVELOPMENT – BERMINGHAM KENO HILL JANUARY 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 24

25. Slide 25: Development – Flame & Moth

    HECLA MINING COMPANY NYSE: HL DEVELOPMENT – FLAME & MOTH KENO HILL JANUARY 2025 UPDATE Development plan: Looking northwest Production shapes: Initial Production Area Christal Zone Lightning Zone ~100m 25

26. Slide 26: Casa Berardi: Gold Exposure in Quebec

    HECLA MINING COMPANY NYSE: HL CASA BERARDI: GOLD EXPOSURE IN QUEBEC CASA BERARDI JANUARY 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

27. Slide 27: 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 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 expedit

28. Slide 28: Financial Review

    FINANCIAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 28

29. Slide 29: Third Quarter Financial Highlights

    HECLA MINING COMPANY NYSE: HL THIRD QUARTER FINANCIAL HIGHLIGHTS JANUARY 2025 UPDATE Q3/24 Revenues By Metal Net Debt to Adjusted EBITDA Silver’s share of revenues is increasing, Copper added Achieved target of < 2x as a payable metal in Q3/2024 Silver Gold Lead Zinc Adjusted EBITDA (1) Net Leverage

30. Slide 30: Free Cash Flow Generation Drives Investment

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW GENERATION DRIVES INVESTMENT JANUARY 2025 UPDATE Q3/2024 Cash Flows ($ Million) Cash flow from operations ATM opportunistically invested in capital, organic targeted to de-lever growth from the revolver 55.0 57.3 Includes Includes revolver debt revolver d

31. Slide 31: Q1-Q3/2024 Revenue, Production, and Cost Highlights

    HECLA MINING COMPANY NYSE: HL Q1-Q3/2024 REVENUE, PRODUCTION, AND COST HIGHLIGHTS JANUARY 2025 UPDATE Silver Gold Lead Zinc Silver Production: 12.3Moz Total Cost of Sales(7): $364.2M Total YTD 2024 Silver Cash Costs, after by-product credits(5): $3.71/oz Margins(3): $14.50/oz 14% AISC, after by-prod

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

    HECLA MINING COMPANY NYSE: HL STRONG SILVER MARGINS DRIVE FREE CASH FLOW GENERATION JANUARY 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 Silve

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 JANUARY 2025 UPDATE Silver Production (Moz) Gold Production (Koz) Silver Equivalent (Moz)6 Gold Equivalent (Koz)6 2024 Greens Creek * 8.6 – 9.0 46 – 51 19.5 – 20.5 226 – 236 2024 Lucky Friday * 4.7 – 5.0 N/A 8.8 – 9.1 100

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 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  Monetar

37. Slide 37: Silver Supply and Demand

    HECLA MINING COMPANY NYSE: HL SILVER SUPPLY AND DEMAND JANUARY 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 Investme

38. Slide 38: Solar Will Be the Largest Source of Electricity

    HECLA MINING COMPANY NYSE: HL SOLAR WILL BE THE LARGEST SOURCE OF ELECTRICITY JANUARY 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 JANUARY 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 90 200

40. Slide 40: More Efficient PV Technologies Use More Silver

    MORE EFFICIENT PV TECHNOLOGIES USE MORE SILVER AND ARE HECLA MINING COMPANY NYSE: HL GAINING MARKET SHARE JANUARY 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 eff

41. Slide 41: Silver Deficit Is Expected to Continue

    HECLA MINING COMPANY NYSE: HL SILVER DEFICIT IS EXPECTED TO CONTINUE JANUARY 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 of

42. Slide 42: Exploration

    EXPLORATION RESPONSIBLE. SAFE. INNOVATIVE. 42

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

    UNIQUE EXPLORATION DUE TO SILVER, JURISDICTIONS, HECLA MINING COMPANY NYSE: HL INFRASTRUCTURE, POTENTIAL, GRADE, AND CAPITAL JANUARY 2025 UPDATE 43

44. Slide 44: $25M Exploration Budget for 2024

    HECLA MINING COMPANY NYSE: HL DISCOVERING AND EXPANDING RESOURCES JANUARY 2025 UPDATE Greens Creek ($9M) Focus on resource expansion and $25M conversion to expand and upgrade multiple ore zones Exploration Budget for 2024, focused on Keno Hill ($8.4M) Greens Creek and Exploration and definition dril

45. Slide 45: 2024 Exploration Targets Multiple Zones Expanding Mineralization

    2024 EXPLORATION TARGETS MULTIPLE ZONES EXPANDING HECLA MINING COMPANY NYSE: HL MINERALIZATION GREENS JANUARYCREEK 2025 UPDATE Positive Results at 9a, West, 200 South, East, Gallagher, and Upper Plate Zones 2024 Exploration Drilling - $9M Budget 2024 Underground 2024 Surface  Underground drilling f

46. Slide 46: Highly Prospective Land Package in a Historical District

    HECLA MINING COMPANY NYSE: HL HIGHLY PROSPECTIVE LAND PACKAGE IN A HISTORICAL DISTRICT KENO HILL JANUARY 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 excellent

47. Slide 47: Underground Drilling Continues to Identify Opportunity at Bermingham and Flame & Moth

    HECLA MINING COMPANY UNDERGROUND DRILLING CONTINUES TO IDENTIFY OPPORTUNITY WITHIN NYSE: HL THE BERMINGHAM AND FLAME & MOTH MINES KENO HILL JANUARY 2025 UPDATE Continued Strong Results from Underground Infill Drilling; 2024 Surface Exploration Drilling In Progress Underground Drilling Surface Explor

48. Slide 48: Underground Drilling Continues to Identify Opportunity at Bermingham and Flame & Moth

    HECLA MINING COMPANY UNDERGROUND DRILLING CONTINUES TO IDENTIFY OPPORTUNITY WITHIN NYSE: HL THE BERMINGHAM AND FLAME & MOTH MINES KENO HILL JANUARY 2025 UPDATE Strong Results from Underground Infill Drilling at Both Bermingham and Flame & Moth Veins Bermingham Footwall Vein Longitudinal Section Flam

49. Slide 49: Environmental, Social, Governance

    Environmental, Social, Governance Our sustainable ESG Corporate Governance responsibilities RESPONSIBLE. SAFE. INNOVATIVE. 49

50. Slide 50: Committed to Responsible Mining

    HECLA MINING COMPANY NYSE: HL COMMITTED TO RESPONSIBLE MINING JANUARY 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 privat

51. Slide 51: Sustainability Rating Agency Scores: Significant Improvements Since 2019

    SUSTAINABILITY RATING AGENCY SCORES: HECLA MINING COMPANY NYSE: HL SIGNIFICANT IMPROVEMENTS SINCE 2019 JANUARY 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 Sco

52. Slide 52: ESG Performance and Ratings

    HECLA MINING COMPANY NYSE: HL ESG PERFORMANCE AND RATINGS JANUARY 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)

53. Slide 53: Hecla Is Among the Safest Mining Companies

    HECLA MINING COMPANY NYSE: HL HECLA IS AMONG THE SAFEST MINING COMPANIES JANUARY 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 since

54. Slide 54: Committed to Our Communities

    HECLA MINING COMPANY NYSE: HL COMMITED TO OUR COMMUNITIES JANUARY 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 Gree

55. Slide 55: Appendix: End Notes and GAAP Reconciliations

    APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 55

56. Slide 56: End Notes

    HECLA MINING COMPANY NYSE: HL END NOTES JANUARY 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 managemen

57. Slide 57: GAAP Reconciliations

    GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 57

58. Slide 58: Last Twelve Months Adjusted EBITDA

    HECLA MINING COMPANY NYSE: HL LAST TWELVE MONTHS ADJUSTED EBITDA JANUARY 2025 UPDATE 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 Income and mining tax expen

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

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

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

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

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

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

62. Slide 62: Cash Cost and AISC Reconciliation to GAAP

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

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

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION JANUARY 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 YTD 2024 2023 2022 2021 2020 in millions Cash provided by op

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

    HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION JANUARY 2025 UPDATE 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 activities 820 126 157 151 209

65. Slide 65: Mineral Reserves and Resources

    MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 65

66. Slide 66: Mineral Reserves - 12/31/2023 (1/2)

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES - 12/31/2023 (1) (1/2) JANUARY 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 Creek (2,3) United States 100.0% 9 11.3 0.08 3.5

67. Slide 67: Mineral Reserves - 12/31/2023 (2/2)

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES - 12/31/2023 (1) (2/2) JANUARY 2025 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% 10,018 10

68. Slide 68: Mineral Resources - 12/31/2023 (1/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (1/4) JANUARY 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) United S

69. Slide 69: Mineral Resources - 12/31/2023 (2/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (2/4) JANUARY 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) United

70. Slide 70: Mineral Resources - 12/31/2023 (3/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (3/4) JANUARY 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)

71. Slide 71: Mineral Resources - 12/31/2023 (4/4)

    HECLA MINING COMPANY NYSE: HL MINERAL RESOURCES - 12/31/2023 (8) (4/4) JANUARY 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) United

72. Slide 72: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES JANUARY 2025 UPDATE 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 tonnage a

73. Slide 73: Mineral Reserves and Resources Footnotes

    HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES JANUARY 2025 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 2025) on 6ix