Growth on the Horizon CORPORATE PRESENTATION FEBRUARY 2026 TSX: EDR | NYSE: EXK TSX: EDR | NYSE: EXK 2 edrsilver.com Cautionary Note Non-IFRS Financial Measures The Company has included certain performance measures that are not defined under International Financial Reporting Standards (IFRS). The Company believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of Kolpa. The non-IFRS measu ...

Endeavour Silver (EXK) came out with quarterly earnings of $0.02 per share, missing the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this silver mining company would post earnings of $0.05 per share when it actually produced a loss of $0.01, delivering a surprise of -120%.Over the last four quarters, ...

CORPORATE PRESENTATION Growth on the Horizon FEBRUARY 2026 TSX: EDR | NYSE: EXK edrsilver.com Cautionary Note This presentation contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the expected benefits of Endeavour's acquisition of all of the is ...

Core Insights - Endeavour Silver Corp. experienced a transformative year in 2025, marked by significant production growth, record revenues, and strategic milestones that enhance its asset portfolio and position for sustained growth [2] Full Year 2025 Highlights - Silver production reached 6,486,661 ounces, a 45% increase from 2024, while gold production was 37,164 ounces, a slight decrease of 5% [4][6] - Total silver equivalent production was 11.2 million ounces, reflecting a 48% increase over 2024, driven by the new Terronera mine and the acquired Kolpa mine [6] - Revenue for 2025 totaled $467.5 million, a 115% increase compared to 2024, attributed to higher metal prices and a 36% increase in silver ounces sold [6][22] - The company reported a mine operating cash flow of $156.3 million, significantly up from $72.3 million in 2024 [6][22] Operating & Financial Overview - The company had a solid cash position of $215.4 million as of December 31, 2025 [6] - Commercial production at the Terronera mine began on October 1, 2025, with 352,002 ounces of silver and 8,148 ounces of gold produced in Q4 2025 [6] - The acquisition of Minera Kolpa was completed on May 1, 2025, funded by a $50 million equity financing [6] - A definitive agreement was made to sell the Bolañitos mine for $30 million in cash and $10 million in shares, with potential contingent payments [6] Q4 2025 Results - In Q4 2025, throughput was 551,010 tonnes, significantly higher than 165,591 tonnes in Q4 2024, due to contributions from Terronera and Kolpa [9][18] - The realized silver price was $54.83 per ounce, a 74% increase from Q4 2024, while the realized gold price was $4,283 per ounce, a 62% increase [15] - The company generated operating earnings of $34.6 million in Q4 2025, compared to an operating loss of $0.5 million in Q4 2024 [16] Year-End Financial Performance - For the year ended December 31, 2025, the company reported a net loss of $119.1 million, compared to a net loss of $31.5 million in 2024 [24] - The loss before tax was $104.9 million, significantly higher than the previous year's loss of $22.0 million, primarily due to finance costs and losses on derivative contracts [24] - The company incurred exploration and evaluation costs of $23.4 million, up from $19.4 million in 2024, reflecting increased activities at Pitarrilla and Kolpa [23]

Key Takeaways EXK and PAAS are riding a 143% surge in silver prices amid strong demand and supply deficits.EXK's Q4 silver output jumped 146% on Terronera and Kolpa, with 2026 AgEq seen up 35%.PAAS expects 2026 silver output of 25-27M oz, up 14% at the mid-point.Pan American Silver Corp. (PAAS) and Endeavour Silver Corporation (EXK) are well-known names in the silver mining sector, sharing several key similarities that define their strategic positioning and investor appeal. Silver prices have skyrocketed 14 ...

Group 1 - The Abbot Physical Silver ETF declined by 3% [1] - The Global X Silver Miners ETF fell by 3.1% [1] - The Invesco Silver Trust decreased by 3% [1] Group 2 - Hecla Mining Company's stock price dropped by 3.3% [1] - Coeur Mining's stock price also decreased by 3.3% [1] - Silvercrest Metals' stock price fell by 3.1% [1] - First Majestic Silver's stock price declined by 3.8% [1]

Group 1 - Endeavour Silver Corp. (NYSE:EXK) is recognized as one of the 11 best mining stocks to buy according to Wall Street [1] - CIBC raised its price target on Endeavour Silver Corp. to C$25 from C$20, maintaining an Outperformer rating, while also increasing gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027 [2] - BMO Capital analyst raised the price target on Endeavour Silver Corp. to C$17 from C$15.50, despite describing the company's 2026 guidance as "broadly negative" due to production below forecast and higher costs [3] Group 2 - Endeavour Silver Corp. operates in Mexico, Chile, Peru, and the United States, focusing on the production of silver, gold, and various base metals [4] - The company provided guidance for 2026 silver production of 8.3 million to 8.9 million ounces and gold output of 46,000 to 48,000 ounces, with additional contributions from lead, zinc, and copper [3]

Core Viewpoint - Precious metal prices have rebounded after a three-day decline, leading to a widespread rally in gold and silver mining stocks [1] Group 1: Gold Mining Companies - Newmont's stock increased by 4.0% [1] - Barrick Mining's stock rose by 4.3% [1] - Agnico Eagle Mines saw a 3.8% increase in stock price [1] - Franco-Nevada's stock went up by 2.1% [1] - Kinross Gold experienced a 4.4% rise [1] - New Gold's stock surged by 5.2% [1] Group 2: Silver Mining Companies - Coeur Mining's stock increased by 6.0% [1] - Endeavour Silver's stock rose by 5.7% [1] - Pan American Silver saw a 5.7% increase [1] - Silvercorp Metals' stock went up by 5.0% [1] Group 3: Precious Metal Prices - Spot gold prices rose by 6.2% at one point [1] - Spot silver prices increased by 12% at one point [1]

Group 1 - Precious metal stocks experienced a significant pre-market decline, with First Majestic Silver (AG.US) dropping nearly 13% [1] - Endeavour Silver (EXK.US) fell over 12%, while Pan American Silver (PAAS.US) and Harmony Gold (HMY.US) both declined nearly 10% [1] - Newmont Corporation (NEM.US) saw a decline of nearly 8% [1] Group 2 - Spot gold prices plummeted, breaking below the $5000.00 per ounce mark, with a daily drop of 7% [1] - The latest COMEX gold futures reported at $5027.80 per ounce, reflecting a daily decrease of 6.11% [1] - London spot silver fell over 16%, currently priced at $98.60 [1]

Core Viewpoint - The precious metals market experienced significant declines, with gold and silver prices dropping sharply, impacting related stocks negatively [1] Group 1: Gold Market - Spot gold fell below three key psychological levels, reaching a low of $5105.83, a drop of over $400 from its intraday high [1] - The decline in gold prices reflects broader market volatility and investor sentiment [1] Group 2: Silver Market - Spot silver saw a drastic decline of 8% during the day, after briefly surpassing $121 per ounce, falling over $15 to currently trade at $108.23 per ounce [1] - The sharp drop in silver prices indicates a significant shift in market dynamics and investor confidence [1] Group 3: Mining Stocks - Precious metal mining stocks experienced notable declines, with Endeavour Silver (EXK.US) and First Majestic Silver (AG.US) both dropping over 8% [1] - Pan American Silver (PAAS.US) fell more than 6.7%, Newmont Corporation (NEM.US) decreased over 5%, and Harmony Gold (HMY.US) dropped over 8% [1]