Coeur Mining : Canaccord Global Metals and Mining Conference

Canaccord Global Metals & Mining Conference

May 2024

NYSE: CDE

Cautionary Statements

This presentation contains forward‐looking statements within the meaning of securities legislation in the United States and Canada, including statements involving strategic priorities and company strategies, growth, anticipated production, costs and expenses, exploration and development efforts, operations, expectations and initiatives at Palmarejo, Rochester, Kensington, Wharf and Silvertip including the Rochester expansion project, the Company's ESG goals, efforts, achievements and strategies, including reduction of greenhouse gas net intensity emissions, inflation and other cost pressures, capital allocation and estimates, liquidity sources, free cash flow, mineral reserve and resource estimates, and hedging strategies. Such forward‐looking statements involve known and unknown risks, uncertainties, and other factors which may cause Coeur's actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward‐looking statements. Such factors include, among others, the risk that the Rochester expansion project takes longer than expected to ramp up to full production rates, the risk that anticipated production, cost and expense levels are not attained, the risk that anticipated ESG goals are not attained, the risks and hazards inherent in the mining business (including risks inherent in developing and expanding large-scale mining projects, environmental hazards, industrial accidents, weather or geologically-related conditions), changes in the market prices of gold and silver and a sustained lower price or higher treatment and refining charge environment, the uncertainties inherent in Coeur's production, exploration and development activities, including risks relating to permitting and regulatory delays, mining law changes, ground conditions, grade and recovery variability, any future labor disputes or work stoppages (involving the Company and its subsidiaries or third parties), the risk of adverse outcomes in litigation, the uncertainties inherent in the estimation of mineral reserves and resources, impacts from Coeur's future acquisition of new mining properties or businesses, the loss of access or insolvency of any third-party refiner or smelter to whom Coeur markets its production, materials and equipment availability, inflationary pressures, continued access to financing sources, the effects of environmental and other governmental regulations and government shut-downs, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeur's ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent reports on Form 10-K and Form 10-Q. Actual results, developments, and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward‐looking statements, whether as a result of new information, future events, or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

The scientific and technical information concerning our mineral projects in this presentation have been reviewed and approved by a "qualified person" under Item 1300 of SEC Regulation S- K, namely our Senior Director, Technical Services, Christopher Pascoe. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources included in this presentation, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for each of the Company's material properties which are available at www.sec.gov. 2023 and 2018 reserves and resources were determined in accordance with Item 1300 of SEC Regulation S-K. Reserves and resources for certain prior periods were determined in accordance with Canadian National Instrument 43-101. Both sets of reporting standards have similar goals in terms of conveying an appropriate level of confidence in the disclosures being reported, but the standards embody slightly different approaches and definitions. The ranges of potential tonnage and grade (or quality) of the exploration results described in this presentation are conceptual in nature. There has been insufficient exploration work to estimate a mineral resource. It is uncertain if further exploration will result in the estimation of a mineral resource. The exploration results described in this presentation therefore do not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve.

Non‐U.S. GAAP Measures ‐ We supplement the reporting of our financial information determined under United States generally accepted accounting principles (U.S. GAAP) with certain non‐U.S. GAAP financial measures, including adjusted net income (loss), operating cash flow before changes in working capital, adjusted EBITDA, adjusted EBITDA margin, total leverage, net leverage, free cash flow, adjusted costs applicable to sales per ounce/pound and adjusted liquidity. We believe that these adjusted measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. We believe these adjusted financial measures are important indicators of our recurring operations because they exclude items that may not be indicative of, or are unrelated to our core operating results, and provide a better baseline for analyzing trends in our underlying businesses. We believe adjusted net income (loss), adjusted EBITDA, adjusted EBITDA margin, total leverage, net leverage, free cash flow, adjusted costs applicable to sales per ounce/pound and adjusted liquidity are important measures in assessing the Company's overall financial performance. This presentation does not represent an offer of any securities for sale.

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Cautionary Statements (cont.)

Cautionary Statements Regarding Company Outlook

In connection with Coeur's regular planning process, Coeur's management prepared certain unaudited financial and operating projections, some portions of which are included in this presentation. These projections were not prepared with a view toward complying with published guidelines of the SEC, the guidelines established by the American Institute of Certified Public Accountants with respect to prospective financial information or GAAP, but, in the view of Coeur's management, were prepared on a reasonable basis, reflect the best then‐available estimates and judgments, and present, to the best of management's knowledge and belief at the time, the expected course of action and the expected future financial and operating performance of Coeur. However, this information is not fact and should not be relied upon as necessarily indicative of actual future results, and readers of this presentation are cautioned not to place undue reliance on these projections.

These projections have been prepared by, and are the responsibility of, Coeur's management. Neither Coeur's independent auditors, nor any other independent accountants, have compiled, examined, or performed any procedures with respect to these projections, nor have they expressed any opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any association with, such projections.

The assumptions and estimates underlying these projections are inherently uncertain and, although considered reasonable by the management of Coeur as of the date of their preparation, are subject to a wide variety of significant business, economic, and competitive risks and uncertainties that could cause actual results to differ materially from those contained in these projections, including, among others, risks and uncertainties relating to Coeur's businesses (including its ability to achieve strategic goals, objectives and targets over applicable periods), industry performance, the regulatory environment, general business and economic conditions and other factors described in the "Risk Factors" section of Coeur's most recent report on Form 10‐K and its other periodic reports filed with the SEC. Accordingly, there can be no assurance that these projections are indicative of the future performance of Coeur or that actual results will not differ materially from those presented. Inclusion of these projections in this presentation should not be regarded as a representation by any person that the results contained in these projections will be achieved.

Coeur does not intend to update or otherwise revise these projections to reflect circumstances existing since their preparation or to reflect the occurrence of unanticipated events, even in the event that any or all of the underlying assumptions are shown to be in error. Furthermore, Coeur does not intend to update or revise these projections to reflect changes in general economic or industry conditions.

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Company Overview

Headquartered in Chicago, IL, Coeur Mining is a growing, multi-asset precious metals producer with a focus on generating sustainable, high-quality cash flow from its North American asset base

U.S. organic growth offers unique near-term catalyst

SILVERTIP

KENSINGTON

WHARF

ROCHESTER

CORPORATE OFFICE

PALMAREJO

Operating Mine

Exploration Project

Company Snapshot

Listing:

NYSE: CDE

Shares O/S1: ~399M

Market Cap2: ~$2.1B

ADTV2,3: ~$26M

Proven & Probable Reserves4:

1. million ounces Au

1. million ounces Ag

2024E Gold Production5:

310,000 - 355,000 ounces

2024E Silver Production5:

10.7 - 13.3 million ounces

Note: See slides in appendix for additional information related to mineral reserves and resources.	NYSE: CDE	4
(1)	As of April 29, 2024.
(2)	As of May 6, 2024.
(3)	ADTV = Average Daily Trading Volume. Data Observed over a 90-day trading period.
(4)	As of December 31, 2023.
JC 2016(5)	Guidance as published by Coeur on May 1, 2024.

Coeur Investment Case

Multiple near-term catalysts converging in 2024

~45%

• Expected '23-25 Ag production growth driven by Rochester (NV)

18% / 88% • Five-year AuEq.1 reserve and resource growth

~$1B

~2/3rds ~1/3rds

3x

• Investment in exploration and expansions ('17-23)

• U.S. based revenue and silver revenue

• Silvertip resource tonnage growth since acquisition

(1) See slide 13 for additional details on reserve and resource growth base.

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Precious Metals Are Coeur to Everyday Life

Coeur is an important part of the supply chains for gold and silver. Due to their unique properties, gold and silver have numerous innovative uses that shape the way we live today and enable a more sustainable, healthier tomorrow

Au

Coeur's Palmarejo, Rochester, Kensington and Wharf mines produce gold, which is a critical component of:

Medical Devices	Electronics	Electrification Devices	Transportation
COVID-19 diagnostic test kits,	Nanotechnology and touch	Batteries and solar panels	GPS technology and catalytic
pacemakers, CAT scan	screen monitors		converters in motor vehicles &
equipment and others			electric vehicle circuit boards

Ag

Coeur's Palmarejo and Rochester mines produce silver, which is a critical component of:

Medical Devices	Renewable Energy	Transportation	Household Items	Public Health
Bandages, pharmaceuticals	Photovoltaic cells in solar	Electric vehicle controls and	Mirrors, clothing, jewelry,	Water purification
and anti-microbial coating for	panels	charging stations; multifunctional	"smart" home systems	systems
equipment		automotive glass

Source: Mining Association of Canada, MineralsMakeLife.org, The National Mining Association and The United States Geological Survey (USGS).

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Silver - Paving the Way for Electrification1,2,3

As the most conductive metal of electricity, silver is helping to shape the world's cleaner and greener future. Demand is rising rapidly to all-time highs, especially for solar panels, automobiles, and 5G technology, which is leading to chronic structural deficits

Solar Energy

• By 2030:
• • Total installed solar capacity to more than quadruple3
  • Photovoltaic silver demand up nearly 10x over past 15 years and expected to continue to grow
• Solar power growth could see silver demand reach 500 million ounces annually by 2050, nearly half of total current demand

Automotive Demand

• Silver is increasingly in demand for electric vehicles and their intricate circuitry
• By 2030, EV demand in the U.S. and Europe alone could require 2.5 billion ounces of silver
• EVs can contain up to twice as much silver as internal combustion engine vehicles with automotive industry demand forecasts growing from ~90 million ounces today to ~200 million ounces by 2030
• Charging infrastructure for EVs is another area that could significantly increase silver requirements in the coming years

Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would be the second-highest level ever. Industrial applications are forecast to post a 4% rise in 2024 to a record 690 million ounces, building on the all-time highs achieved last year

Source(s):

1. https://www.silverinstitute.org/global-silver-demand-forecasted-to-rise-to-1-2-billion-ounces-in-2024/.
2. https://www.cruxinvestor.com/posts/copper-and-silver-demand-set-to-surge-amid-supply-deficits.
3. International Energy Agency - World Energy Outlook 2023.

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Rochester: World Class Silver Asset - By the Numbers

#1

• Largest open pit heap leach operation in North America1

#3

#1

• Third-largest open pit heap leach operation in the world 1

• Largest silver reserve asset in the U.S.2

#3

• Third-largest silver reserve asset in North America2

#4

• Fourth-largest silver reserve asset in the world2

1. Source: S&P Capital IQ; post-expansion based on Coeur Rochester December 2021 technical report full design throughput of 32.0 Mst/a.
2. Source: S&P Capital IQ; based on Coeur Rochester 2022 proven and probable reserves of 179,975,000 ounces silver.

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Rochester Expansion: Ramp-Up On Track

Rochester expansion construction and commissioning is now complete. The crushing circuit has routinely exceeded 70,000 TPD1 since commissioning was completed. Commercial production was achieved as of March 31, 2024 and the ramp-up to sustained nameplate capacity of 88,000 TPD1 remains on schedule

Project Overview

Economies of Scale

World'sTop Mining

~2.5x increase vs. pre-Jurisdiction2expansion rates

Significantly Lower Cost

Long Mine Life

Profile~16 years based on P&P3 reserves

Commissioning Progress

• Successful feed of material through all three stages of crushing and truck load-out facility during 1Q 2024

• Successful transition of crusher from operational readiness team to operations team

• Commercial production declared on March 31, 2024

Ramp-up of the Merrill-Crowe process plant and crusher
corridor are expected to be completed by the end of the
second quarter, with the goal of reaching expected daily	First rock through the secondary crusher
throughput of approximately 88,000 tons

Note: For additional information on the expansion of Rochester, please refer to the technical report summary for Rochester available at www.sec.gov.

1. Tons per day.
2. Fraser Institute Annual Survey of Mining Companies (2022).
3. Proven and Probable.

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Rochester Expansion: Ramp-Up Outlook

Ramp-up is expected to be completed by the end of the second quarter, leading to significantly higher expected production and lower anticipated CAS per ounce

Cost Performance1

( 3 7 )%

	$25.74
$23.57	$23.97

	$2,268
	$1,922
$1,691	$14.00 - $16.00

• 3 2 ) % $1,200 - $1,400

2021	2022	2023		2H 2024E
				Adj. CAS per AgOz2	Adj. CAS per AuOz2
Production1						2024 represents an expected 68% and
												12% inc rease in silver and gold	~4.8 - 6.4	~37 - 50
											produ c tion, res pectively, y ear - over - year
											34.7				38.8
				27.1						3.4
				3.2						3.1

	2021	2022	2023	2024E
		Silver (M oz)	Gold (K oz)
(1)	Guidance as published by Coeur on May 1, 2024.			NYSE: CDE 10
(2)	See applicable non-GAAP reconciliation tables in the appendix to this presentation.

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