Coeur Mining, Inc.

Previous wording

For the quarter, Coeur reported revenue of $856 million and cash provided by operating activities of $341 million. We reported GAAP net income of $247 million, or $0.35 per diluted share. On a non-GAAP adjusted basis 1, the Company reported EBITDA of $475 million and net income of $254 million or $0.36 per diluted share.

Current wording

For the quarter, Coeur reported revenue of $1 billion and cash provided by operating activities of $513 million, driven by the first full quarter of contributions from New Afton and Rainy River. We reported GAAP net income of $122 million, or $0.12 per diluted share. On a non-GAAP adjusted basis, the Company reported EBITDA of $478 million and net income of $123 million or $0.12 per diluted share. For the six months ended June 30, 2026, Coeur reported revenue of $2 billion and cash provided by operating activities of $854 million. We reported GAAP net income of $369 million, or $0.42 per diluted share. On a non-GAAP adjusted basis, the Company reported EBITDA of $953 million and net income of $376 million or $0.43 per diluted share.

Previous wording

(1)See “Non-GAAP Financial Performance Measures”. Includes costs of $85 million, $3 million, and $27 million for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively, related to the purchase price allocation (“PPA”) ascribed to Inventoryat New Afton, Rainy River and Las Chispas.

Current wording

(1)See “Non-GAAP Financial Performance Measures”. Includes costs of $140 million and $85 million for the three months ended June 30, 2026 and March 31, 2026, respectively, and $225 million and $57 million for the six months ended June 30, 2026 and 2025, respectively, related to the PPA ascribed to Inventoryat New Afton, Rainy River and Las Chispas.

Previous wording

We sold 108,420 gold ounces, 4.4 million silver ounces, and 3.4 million copper pounds, compared to 111,273 gold ounces, 4.6 million silver ounces and zero copper pounds. Revenue increased by $181 million, or 27%, as a result of 15% and 53% increases in average realized gold and silver prices, respectively, and sales of 3.4 million copper pounds from acquired inventory at New Afton, partially offset by a 3% and 5% decrease in gold and silver ounces sold, respectively. The decrease in gold ounces sold was the result of temporarily-reduced crushing capacity at Wharf, lower mill throughput at Kensington and Palmarejo, lower grades at Rochester and Kensington, and lower placement rates at Rochester. This was partially offset by post-acquisition sales at Rainy River and New Afton. The decrease in silver ounces sold was the result of lower mill throughput at Palmarejo, and lower placement rates at Rochester, partially offset by higher mill throughput and recoveries at Las Chispas. Gold, silver, and copper represented 56%, 42%, and 2% of first quarter 2026 sales revenue, respectively, compared to 63%, 37%, and nil of fourth quarter 2025 sales revenue, respectively.

Current wording

We sold 167,877 gold ounces, 4.5 million silver ounces, and 11.3 million copper pounds compared to 108,420 gold ounces, 4.4 million silver ounces, and 3.4 million copper pounds. Revenue increased by $229 million, or 27%, as a result of full-quarter sales from Rainy River and New Afton, a 2% increase in gold ounces sold from Coeur’s legacy mines, and a 10% increase in average realized copper price, partially offset by a 1% decrease in silver sales from Coeur’s legacy mines and 6% and 14% decreases in average realized gold and silver prices, respectively. The increase in gold ounces sold was the result of higher mill throughput at Las Chispas and Kensington, higher placement rates at Wharf, and full-quarter sales at Rainy River and New Afton. This was partially offset by lower grades at Palmarejo, and sequencing and timing of grade delivered to pad at Rochester. The slight increase in silver ounces sold was the result of full-quarter sales at Rainy River and New Afton, partially offset by lower grades at Palmarejo, and sequencing and timing of grade delivered to pad at Rochester. Gold, silver, and copper represented 64%, 30%, and 6% of second quarter 2026 sales revenue, respectively, compared to 56%, 42%, and 2% of first quarter 2026 sales revenue, respectively.

Previous wording

Costs applicable to sales increased $114 million, or 53%, primarily driven by post-acquisition sales at Rainy River and New Afton as well as the impact of the purchase price allocation (“PPA”) ascribed to Inventory of $85 million compared to $3 million in the fourth quarter of 2025, partially offset by lower gold ounces sold at Wharf. For a complete discussion of costs applicable to sales, see Results of Operations below.

Current wording

Costs applicable to sales increased $220 million, or 67%, primarily driven by full-quarter sales at Rainy River and New Afton as well as the impact of the PPA ascribed to Inventory of $140 million compared to $85 million in the first quarter of 2026. For a complete discussion of costs applicable to sales, see Results of Operations below.

Previous wording

Amortization increased $26 million, or 36%, as a result of post-acquisition sales at Rainy River and New Afton, and higher gold and silver ounces sold at Las Chispas, partially offset by lower gold and silver ounces sold at Palmarejo, Rochester, Kensington and Wharf.

Current wording

Amortization increased $156 million, or 156%, as a result of full-quarter sales at Rainy River and New Afton, and higher gold and silver ounces sold at Las Chispas and Wharf, partially offset by lower gold and silver ounces sold at Palmarejo, Rochester, and Kensington.

Previous wording

General and administrative expenses increased $6 million, or 42%, primarily due to higher stock-based compensation and annual incentive costs.

Current wording

General and administrative expenses increased $1 million, or 5%, primarily due to higher outside service and travel costs, partially offset by lower stock-based compensation costs.

Previous wording

Interest expense (net of capitalized interest) was unchanged at $6 million as interest on the $400 million of debt assumed from the New Gold Transaction was offset by lower interest paid on finance leases. The new $1.0 billion RCF had no outstanding amount drawn as of March 31, 2026.

Current wording

Interest expense (net of capitalized interest) increased to $11 million attributable to the higher interest paid under the New Gold 2032 Senior Notes assumed in the New Gold Transaction and 2032 Senior Notes, partially offset by lower interest paid on finance leases. The new $1.0 billion RCF had no outstanding amount drawn as of June 30, 2026.

Previous wording

Other, net increased to a gain of $8 million compared to $6 million as a result of higher interest income, partially offset by lower foreign exchange rate gains.

Current wording

Other, net increased to a gain of $10 million compared to $8 million as a result of higher foreign exchange rate gains.

Previous wording

Income and mining tax expense of approximately $102 million resulted in an effective tax rate of 29.2% for three months ended March 31, 2026. This compares to income tax expense of $113 million for an effective tax rate of 34.4% for three months ended December 31, 2025. The comparability of the Company’s income and mining tax (expense) benefit and effective tax rate for the reported periods was impacted by multiple factors, primarily: (i) U.S. valuation allowance release; (ii) foreign exchange rates; (iii) variations in our income before income taxes; (iv) geographic distribution of that income; (v) the impact of uncertain tax positions; (vi) mining taxes; (vii) excess of tax benefits from share-based compensation; and (viii) percentage depletion. Fluctuations in foreign exchange rates on deferred tax balances decreased income and mining tax expense by $2 million and increased income and mining tax expense by $6 million for the three months ended March 31, 2026 and December 31, 2025, respectively. The impact of foreign exchange rates on deferred tax balances is predominantly due to the Mexican Peso and deferred taxes resulting from Las Chispas purchase price accounting. Therefore, the effective tax rate will fluctuate, sometimes significantly, period to period.

Current wording

Income and mining tax expense of approximately $93 million resulted in an effective tax rate of 43.3% for the three months ended June 30, 2026. This compares to income tax expense of $102 million for an effective tax rate of 29.2% for the three months ended March 31, 2026. The comparability of the Company’s income and mining tax (expense) benefit and effective tax rate for the reported periods was impacted by multiple factors, primarily: (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) foreign exchange rates; (iv) excess of tax benefits from share-based compensation; (v) mining taxes; (vi) the impact of uncertain tax positions; (vii) percentage depletion and (viii) U.S. valuation allowance release. Fluctuations in foreign exchange rates on deferred tax balances increased income and mining tax expense by $10 million and decreased income and mining tax expense by $2 million for the three months ended June 30, 2026 and March 31, 2026, respectively. The impact of foreign exchange rates on deferred tax balances is predominantly due to the Mexican Peso and deferred taxes resulting from Las Chispas purchase price accounting. Therefore, the effective tax rate will fluctuate, sometimes significantly, period to period.

Previous wording

The Company has historically provided a valuation allowance against a portion of its U.S. net deferred tax assets. In the first quarter of 2026, the Company released $1 million of valuation allowance against its U.S. net deferred tax assets, resulting in a non-cash deferred tax benefit. The $1 million valuation allowance release is related to forecasted future year income. The timing of this valuation allowance release was primarily due to the cumulative income position for the most recent three-year period and projected future earnings.

Current wording

The Company has historically provided a valuation allowance against a portion of its U.S. net deferred tax assets. During the three and six months ended June 30, 2026, the Company released nil and $1.0 million, respectively, of valuation allowance against its U.S. net deferred tax assets resulting in a non-cash deferred tax benefit. The $1.0 million valuation allowance released is related to forecasted future year income. The timing of this valuation allowance release was primarily due to the cumulative income position for the most recent three-year period and projected future earnings.

Previous wording

Net income was $247 million, or $0.35 per diluted share, compared to $215 million, or $0.33 per diluted share. The increase in net income was driven by a 15% and 53% increase in average realized gold and silver prices, respectively, and post-acquisition sales at Rainy River and New Afton. This was partially offset by a 3% and 5% decrease in gold and silver ounces sold, respectively, post-acquisition costs applicable to sales at Rainy River and New Afton, higher general and administrative and exploration costs, and higher income and mining taxes. Adjusted net income was $253 million, or $0.36 per diluted share, compared to $227 million, or $0.35 per diluted share (see “Non-GAAP Financial Performance Measures”).

Current wording

Net income was $122 million, or $0.12 per diluted share, compared to $247 million, or $0.35 per diluted share. The decrease in net income resulted from a 1% decrease in silver sales from Coeur’s legacy mines and a 6% and 14% decrease in average realized gold and silver prices, respectively, post-acquisition costs applicable to sales at Rainy River and New Afton, and higher exploration and interest expense. This was partially offset by full-quarter sales from Rainy River and New Afton and a 2% increase in gold ounces sold from Coeur’s legacy mines, and lower income and mining taxes. Adjusted net income was $123 million, or $0.12 per diluted share, compared to $253 million, or $0.36 per diluted share (see “Non-GAAP Financial Performance Measures”).

Previous wording

The increase in gold ounces sold was primarily due to full-quarter sales at Las Chispas and post-acquisition sales at Rainy River and New Afton, partially offset by lower mill throughput at Kensington and temporarily-reduced crushing capacity at Wharf. The increase in silver ounces sold resulted from full-quarter sales at Las Chispas, higher placement rates at Rochester, partially offset by lower grades at Palmarejo and Rochester. Gold, silver and copper represented 56%, 42% and 2% of sales revenue during the first quarter of 2026, respectively, compared to 65%, 35% and nil during the first quarter of 2025, respectively.

Current wording

The Company sold 276,297 gold ounces, 8.9 million silver ounces, and 14.7 million copper pounds compared to 196,264 gold ounces, 8.6 million silver ounces, and zero copper pounds. Revenue increased by $1,101 million, or 131%, as a result of post-acquisition sales at Rainy River and New Afton, a 1% increase in silver ounces sold from Coeur’s legacy mines, and a 49% and 133% increase in average realized gold and silver prices, respectively. This was partially offset by a 14% decrease in gold ounces sold from Coeur’s legacy mines. The increase in gold ounces sold was primarily due to full-year sales at Las Chispas and post-acquisition sales at Rainy River and New Afton, partially offset by lower mill throughput at Palmarejo and Kensington, lower grades at Palmarejo, Rochester, and Kensington, and temporarily reduced crushing capacity at Wharf. The increase in silver ounces sold resulted from full-quarter sales at Las Chispas, partially offset by lower mill throughput at Palmarejo, and grades at Palmarejo and Rochester. Gold, silver and copper represented 60%, 35% and 5% of 2026 sales, respectively, compared to 66%, 34% and nil of 2025 sales, respectively.

Previous wording

Costs applicable to sales increased $126 million, or 62%, primarily due to the post-acquisition sales at Rainy River and New Afton, full-quarter sales at Las Chispas and higher operating costs at Palmarejo, Rochester and Kensington, partially offset lower gold ounces sold Wharf. Cost applicable to sales includes the impact of the PPA ascribed to Inventory of $85 million compared to $27 million during the first quarter of 2025. For a complete discussion of costs applicable to sales, see Results of Operations below.

Current wording

Costs applicable to sales increased $446 million, or 103%, primarily due to the post-acquisition sales at Rainy River and New Afton, full-year sales at Las Chispas and higher operating costs at Palmarejo, Rochester and Kensington, partially offset by lower gold ounces sold Wharf. Cost applicable to sales includes the impact of the PPA ascribed to Inventory of $225 million compared to $57 million during 2025. For a complete discussion of costs applicable to sales, see Results of Operations below.

Previous wording

Amortization increased $57 million, or 132%, as a result of post-acquisition sales at Rainy River and New Afton, full-quarter sales at Las Chispas, partially offset lower gold ounces sold at Palmarejo and Wharf.

Current wording

Amortization increased $251 million, or 240%, as a result of post-acquisition sales at Rainy River and New Afton, full-year sales at Las Chispas, partially offset by lower gold ounces sold at Palmarejo, Kensington and Wharf.

Previous wording

General and administrative expenses increased $8 million, or 56%, primarily due to higher stock-based compensation, annual incentive, outside service, and audit fees.

Current wording

General and administrative expenses increased $17 million, or 63%, primarily due to higher stock-based compensation, annual incentive compensation, outside services, and audit fees.

Previous wording

Exploration expense increased $6 million, or 31%, driven by planned higher resource expansion drilling activity at all locations, and full-quarter exploration expense at Las Chispas.

Current wording

Exploration expense increased $17 million, or 39%, driven by planned higher resource expansion drilling activity at all locations, full-year exploration expense at Las Chispas, and post-acquisition exploration expense at Rainy River and New Afton.

Previous wording

Pre-development, reclamation, and other expenses increased $13 million, or 76%, primarily due to higher transaction costs related to the acquisition of New Gold.

Current wording

Pre-development, reclamation, and other expenses increased $6 million, or 21%, primarily due to higher transaction and integration costs related to the New Gold Transaction, partially offset by the receipt of property damage insurance proceeds related to the fire incident at Wharf.

Previous wording

The Company incurred $2 million of debt extinguishment costs following the termination of the $400 million revolving credit facility and its replacement with the new $1.0 billion revolving credit facility.

Current wording

The Company incurred $2 million of debt extinguishment costs following the termination of the $400 million revolving credit facility and its replacement with the new $1.0 billion RCF, and prepayment of $39 million of Rochester finance leases.

Previous wording

Interest expense (net of capitalized interest) decreased to $6 million from $10 million due to lower interest paid under the RCF driven by lower average debt levels and interest rate, partially offset by higher interest paid under finance lease obligations driven by new finance leases in the second half of 2025. The new $1.0 billion RCF had no outstanding amount drawn as of March 31, 2026.

Current wording

Interest expense (net of capitalized interest) decreased to $17 million from $19 million due to lower interest paid under the RCF driven by lower average debt levels and lower interest paid under finance leases, partially offset by higher interest paid under the New Gold 2032 Senior Notes assumed in the New Gold Transaction and 2032 Senior Notes. The new $1.0 billion RCF had no outstanding amount drawn as of June 30, 2026.

Previous wording

Other, net increased to a gain of $8 million compared to $0.4 million as a result of higher interest income.

Current wording

Other, net increased to a gain of $17 million compared to $1.9 million as a result of higher interest income and foreign exchange rate gains.

Previous wording

Income and mining tax expense of approximately $102 million resulted in an effective tax rate of 29.2% for the first quarter of 2026. This compares to income tax expense of $18 million for an effective tax rate of 35.6% for the first quarter of 2025. The comparability of the Company’s income and mining tax (expense) benefit and effective tax rate for the reported periods was impacted by multiple factors, primarily: (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) mining taxes; (iv) percentage depletion; (v) excess of tax benefits from share-based compensation; (vi) foreign exchange rates; (vii) U.S. valuation allowance release; and (viii) the impact of uncertain tax positions. Fluctuations in foreign exchange rates on deferred tax balances decreased income and mining tax expense by $2 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively. The impact of foreign exchange rates on deferred tax balances is predominantly due to the Mexican Peso and deferred taxes resulting from Las Chispas purchase price accounting. Therefore, the effective tax rate will fluctuate, sometimes significantly, period to period.

Current wording

Income and mining tax expense of approximately $195 million resulted in an effective tax rate of 34.6% for the six months ended June 30, 2026. This compares to income tax expense of $81 million for an effective tax rate of 43.8% for the six months ended June 30, 2025. The comparability of the Company’s income and mining tax (expense) benefit and effective tax rate for the reported periods was impacted by multiple factors, primarily: (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) mining taxes; (iv) percentage depletion; (v) foreign exchange rates; (vi) excess of tax benefits from share-based compensation; (vii) the impact of uncertain tax positions and (viii) U.S. valuation allowance release. Fluctuations in foreign exchange rates on deferred tax balances increased income and mining tax expense by $9 million and $28 million for the six months ended June 30, 2026 and 2025, respectively. The impact of foreign exchange rates on deferred tax balances is predominantly due to the Mexican Peso and deferred taxes resulting from Las Chispas purchase price accounting. Therefore, the effective tax rate will fluctuate, sometimes significantly, period to period.

Previous wording

The Company has historically provided a valuation allowance against a portion its U.S. net deferred tax assets. In the first quarter of 2026, the Company released $1 million of valuation allowance against its U.S. net deferred tax assets, resulting in a non-cash deferred tax benefit. The $1 million valuation allowance release is related to forecasted future year income. The timing of this valuation allowance release was primarily due to the cumulative income position for the most recent three-year period and projected future earnings.

Current wording

The Company has historically provided a valuation allowance against a portion its U.S. net deferred tax assets. During the three and six months ended June 30, 2026, the Company released nil and $1.0 million, respectively, of valuation allowance against its U.S. net deferred tax assets resulting in a non-cash deferred tax benefit. The $1 million valuation allowance released is related to forecasted future year income. The timing of this valuation allowance release was primarily due to the cumulative income position for the most recent three-year period and projected future earnings.

Previous wording

Net income was $247 million, or $0.35 per diluted share, compared to $33 million, or $0.06 per diluted share. The increase in net income was driven by a 21% and 12% increase in gold and silver ounces sold, respectively, which includes post-acquisition sales at Rainy River and New Afton and full-quarter sales at Las Chispas, a 66% and 159% increase in average realized gold and silver prices, respectively, and lower interest expense This was partially offset by post-acquisition costs applicable to sales at Rainy River and New Afton, higher general and administrative, exploration, and Transaction costs. Adjusted net income was $253 million, or $0.36 per diluted share, compared to $40 million, or $0.08 per diluted share (see “Non-GAAP Financial Performance Measures”).

Current wording

Net income was $369 million, or $0.42 per diluted share, compared to $104 million, or $0.18 per diluted share. The increase in net income was driven by a 1% increase in silver ounces sold from Coeur’s legacy mines, post-acquisition sales at Rainy River and New Afton, a 49% and 133% increase in average realized gold and silver prices, respectively, and full-quarter sales at Las Chispas. This was partially offset by post-acquisition costs applicable to sales at Rainy River and New Afton, higher general and administrative, exploration, transaction and integration costs, and mining and income tax expense. Adjusted net income was $376 million, or $0.43 per diluted share, compared to $143 million, or $0.25 per diluted share (see “Non-GAAP Financial Performance Measures”).

Previous wording

The Company has reaffirmed its full-year 2026 guidance, including production, CAS, capital expenditures, depreciation, depletion and amortization (“DD&A”), exploration, general and administrative expenses (“G&A”), and income and mining tax.

Current wording

The Company reaffirmed its full-year guidance for exploration and general and administrative expenses (“G&A”).

Previous wording

2026 Capital, DD&A, Exploration, G&A and Income and Mining Tax Guidance

Current wording

2026 Capital, Amortization, Exploration, G&A and Income and Mining Tax Guidance

Previous wording

Note: The Company’s guidance figures assume estimated prices of $4,550/oz gold, $77.50/oz silver, and $5.00/lb copper, as well as CAD of 1.38 and MXN of 18.00. Guidance figures exclude the impact of any metal sales or foreign exchange hedges.

Current wording

Note: The Company’s previous guidance figures assumed estimated prices of $4,550/oz gold, $77.50/oz silver, and $5.00/lb copper, as well as CAD of 1.38 and MXN of 18.00. The Company’s updated guidance figures assume estimated prices of $4,000/oz gold, $60.00/oz silver, and $6.00/lb copper, as well as CAD of 1.38 and MXN of 18.00. Guidance figures exclude the impact of any metal sales or foreign exchange hedges.

Previous wording

New Afton results represent eleven days of post-acquisition activity subsequent to the acquisition of New Gold on March 20, 2026. Metal sales were $38 million, or 4% of Coeur’s metal sales. Costs applicable to sales per gold ounce and copper pound sold includes $2,560 and $3.10, respectively, of costs related to the expensing of $20 million of PPA that was ascribed to Inventory. Amortization totaled $14 million. Capital expenditures were not significant.

Current wording

New Afton results represent post-acquisition activity subsequent to the acquisition of New Gold on March 20, 2026. Metal sales were $171 million, or 9% of Coeur’s metal sales. Costs applicable to sales per gold ounce and copper pound sold includes $531 and $0.73, respectively, of costs related to the expensing of $20 million of PPA that was ascribed to Inventory. Amortization totaled $121 million. Capital expenditures were $12 million.

Previous wording

(1)See Non-GAAP Financial Performance Measures. Includes the impact of $3,026 on costs applicable to sales per gold ounce sold, attributable to PPA ascribed to Inventory of $65 million in the first quarter of 2026.

Current wording

(1)See Non-GAAP Financial Performance Measures. Includes the impact of $2,036, $3,026, and $2,270 on costs applicable to sales per gold ounce sold, attributable to PPA ascribed to Inventory of $141 million, $65 million, and $205 million in the second quarter, first quarter and six months ended June 30, 2026, respectively.

Previous wording

Rainy River results represent eleven days of post-acquisition activity subsequent to the acquisition of New Gold on March 20, 2026. Metal sales were $96 million, or 11% of Coeur’s metal sales. Costs applicable to sales per gold ounce sold includes $3,026 of costs related to the expensing of $65 million of PPA that was ascribed to Inventory. Amortization totaled $17 million. Capital expenditures were $6 million.

Current wording

Rainy River results represent post-acquisition activity subsequent to the acquisition of New Gold on March 20, 2026. Metal sales were $401 million, or 21% of Coeur’s metal sales. Costs applicable to sales per gold ounce sold include $2,270 of costs related to the expensing of $205 million of PPA that was ascribed to Inventory. Amortization totaled $96 million. Capital expenditures were $64 million.

Previous wording

(1)See Non-GAAP Financial Performance Measures. Includes the impact of $2,560 and $3.10 on costs applicable to sales per gold ounce and copper pound sold, respectively, attributable to PPA ascribed to Inventory of $20 million in the first quarter of 2026.

Current wording

(1)See Non-GAAP Financial Performance Measures. Includes the impact of $1,106 and $11.80 on costs applicable to sales per gold and silver ounce sold, respectively, attributable to PPA ascribed to Inventory of $57 million in the six months ended June 30, 2025.

Previous wording

Las Chispas results represent post-acquisition activity subsequent to the acquisition of SilverCrest on February 14, 2025, which drove the gold and silver production increase of 109% and 107%, respectively. Metal sales were $58 million, or 23% of Coeur’s metal sales, compared with $58 million, or 16% of Coeur’s metal sales. Revenue increased by $136 million, or 234%, of which $70 million was due to higher gold and silver prices, and $66 million was attributable to higher volume of gold and silver production. Costs applicable to sales per gold and silver ounce decreased 64% and 44%, respectively, due to the mix of gold and silver sales which impacted co-product cost allocation, and the absence of PPA that was ascribed to Inventoryin 2026. In the prior year quarter, costs applicable to sales per gold and silver ounce sold includes $1,351 and $15.22, respectively, of costs related to the expensing of the $27 million of PPA. Amortization and capital expenditures increased to $35 million and $13 million, respectively, due to a full-quarter of results in 2026.

Current wording

Las Chispas results represent post-acquisition activity subsequent to the SilverCrest Transaction that closed on February 14, 2025, which drove the gold and silver production increase of 30% and 35%, respectively. Metal sales were $381 million, or 20% of Coeur’s metal sales, compared with $161 million, or 19% of Coeur’s metal sales. Revenue increased by $220 million, or 137%, of which $145 million was due to higher gold and silver prices, and $75 million was attributable to higher volume of gold and silver production. Costs applicable to sales per gold and silver ounce decreased 59% and 35%, respectively, due to the mix of gold and silver sales which impacted co-product cost allocation and the absence of PPA that was ascribed to Inventoryin 2026. In the prior year, costs applicable to sales per gold and silver ounce sold included $1,106 and $11.80, respectively, of costs related to the expensing of the $57 million of PPA. Amortization and capital expenditures increased to $75 million and $29 million, respectively, due to a full year of results in 2026.

Previous wording

Gold and silver production decreased 20% driven by lower grades and placement rates of crushed and direct-to-pad (“DTP”) material during the quarter affected by hauling of overliner material for the pad expansion. Ore tonnes crushed during the quarter consisted of approximately 5.9 million tonnes (6.5 million tons) through the crushing circuit and 0.8 million tonnes (0.9 million tons) of DTP material. Ore tonnes placed during the quarter totaled 6.7 tonnes (7.4 million tons), a 28% (2.5 million tonnes) decrease from the prior quarter. Metal sales were $181 million, or 21% of Coeur’s metal sales, compared with $168 million, or 25% of Coeur’s metal sales in the prior year period. Revenue increased by $13 million, or 8%, of which $58 million was due to higher average realized gold and silver prices, partially offset by $45 million was due to a lower volume of gold and silver production. Costs applicable to sales per gold and silver ounce decreased 2% and increased 20%, respectively, as a result of the decrease in ore tonnes placed, higher labor and maintenance costs, and the mix of gold and silver sales which impacted co-production cost allocation. Amortization decreased to $16 million due to the decrease in gold and silver ounces sold. Capital expenditures increased to $23 million from $15 million due to equipment purchases and higher capitalized stripping related to the construction of a new open pit.

Current wording

Gold and silver production decreased 17% and 12%, respectively, driven by timing of tonnes delivered to pad. Ore tonnes crushed during the quarter consisted of approximately 6.8 million tonnes (7.5 million tons) through the crushing circuit and 1.3 million tonnes (1.4 million tons) of direct to pad (“DTP”) material. Ore tonnes placed during the quarter totaled 8.0 million tonnes (8.9 million tons), a 20% (1.3 million tonnes) increase from the prior quarter. Metal sales were $141 million, or 13% of Coeur’s metal sales, compared with $181 million, or 21% of Coeur’s metal sales. Revenue decreased by $41 million, or 22%, of which $20 million was due to lower average realized gold and silver prices, and $21 million was attributable to a lower volume of gold and silver production. Costs applicable to sales per gold and silver ounce increased 28% and 25%, respectively, as a result of higher labor, consumable and maintenance costs, and the mix of gold and silver sales which impacted co-production cost allocation, partially offset by increased recoverable ounces placed on the new leach pad. Amortization decreased to $14 million driven by the decrease in gold and silver ounces sold. Capital expenditures decreased to $18 million from $23 million due to lower capitalized stripping related to the Phase 2 development of the Stage 6 leach pad.

Previous wording

Gold production decreased 10% as a result of lower mill throughput. Metal sales were $109 million, or 13% of Coeur’s metal sales, compared to $65 million, or 18% of Coeur’s metal sales in the prior year period. Revenue increased by $44 million, or 67%, of which $48 million was due to higher average realized gold prices, partially offset by $4 million resulting from lower volume of gold production. Costs applicable to sales per gold ounce increased 19% due to lower production, and higher labor, maintenance and royalty costs, partially offset by lower outside service costs. Amortization increased to $9 million resulting from a higher depletable base. Capital expenditures decreased to $9 million from $15 million due to a decrease in underground development, capitalized exploration and tailings dam expansion expenditures.

Current wording

Gold production decreased 15% as a result of lower mill throughput and lower grades. Metal sales were $196 million, or 10% of Coeur’s metal sales, compared to $155 million, or 18% of Coeur’s metal sales in the prior year period. Revenue increased by $41 million, or 27%, of which $74 million was due to higher average realized gold prices, partially offset by $33 million resulting from lower volume of gold production. Costs applicable to sales per gold ounce increased 27% due to lower production, and higher labor and maintenance costs, partially offset by lower outside service costs. Amortization decreased to $17 million resulting lower gold ounces sold. Capital expenditures decreased to $21 million from $32 million due to a decrease in underground development, capitalized exploration and tailings dam expansion expenditures.

Previous wording

Gold production decreased 52% driven by lower material placed on the pads and the timing of recoveries. Ore tonnes placed during the first quarter were impacted by a fire incident at the tertiary crusher which occurred during regularly scheduled maintenance. Metal sales were $50 million, or 6% of Coeur’s metal sales, compared to $58 million, or 16% of Coeur’s metal sales in the prior year period. Revenue decreased by $9 million, or 15%, of which $53 million was due to lower gold production, partially offset by $44 million attributable to higher average realized gold prices. Costs applicable to sales per gold ounce increased 26% due to lower ore tonnes placed and higher outside service costs, partially offset by lower labor and royalty costs. Amortization decreased to $1 million as a result of lower gold ounces mined. Capital expenditures increased to $13 million from $7 million due to the crusher rebuild.

Current wording

Gold production decreased 38% driven by lower material placed on the pads. Ore tonnes placed were negatively impacted by a fire incident at the tertiary crusher which occurred during regularly scheduled maintenance in late 2025. Metal sales were $123 million, or 6% of Coeur’s metal sales, compared to $137 million, or 16% of Coeur’s metal sales in the prior year period. Revenue decreased by $15 million, or 11%, of which $85 million was due to lower gold production, partially offset by $70 million attributable to higher average realized gold prices. Costs applicable to sales per gold ounce increased 14% due to lower ore tonnes placed and higher labor, consumable, royalty, and outside service costs, partially offset by the he $10 million received for the business interruption claim. Amortization decreased to $2 million as a result of lower gold ounces mined. Capital expenditures remained comparable at $11 million.

Previous wording

Exploration expenses totaled $9 million in the first quarter of 2026 compared to $5.8 million in the fourth quarter of 2025. Ongoing carrying costs at Silvertip totaled $3 million in both periods. Capital expenditures totaled $2 million in both periods.

Current wording

Exploration expenses totaled $6 million in the second quarter of 2026 compared to $9 million in the first quarter of 2026. Ongoing carrying costs at Silvertip totaled $3 million in both periods. Capital expenditures totaled $5 million compared to $2 million in the prior period.

Previous wording

Exploration expense totaled $9 million in 2026 as the Company continued to focus on expanding the mineral resources at Silvertip, which were supported by 249 meters of underground mine development. Ongoing carrying costs at Silvertip totaled $3 million in both periods. Capital expenditures totaled $2 million compared to $0.9 million in the prior year period.

Current wording

Exploration expense totaled $16 million in 2026 as the Company continued to focus on expanding the mineral resources at Silvertip, which were supported by 500 meters of underground mine development. Ongoing carrying costs at Silvertip totaled $7 million compared to $5 million in the prior year period. Capital expenditures totaled $7 million compared to $2 million in the prior year period.

Previous wording

At March 31, 2026, the Company had $846 million of cash, cash equivalents and restricted cash and $1.0 billion available under the RCF. Future borrowing under the RCF may be subject to certain financial covenants. Cash and cash equivalents increased $290 million in the three months ended March 31, 2026 due to $128 million cash acquired in the New Gold Transaction, a 15% and 53% increase in average realized gold and silver prices, respectively, and post-acquisition sales at Rainy River and New Afton. This was partially offset by a 3% and 5% decrease in gold and silver ounces sold, respectively, transaction cost related payments of $30 million, $123 million of income and mining tax payments at Palmarejo and Las Chispas, vesting performance share cash settlement of $72 million, and $74 million of capital expenditures.

Current wording

At June 30, 2026, the Company had $1.1 billion of cash, cash equivalents and restricted cash and $1.0 billion available under the RCF. Future borrowing under the RCF may be subject to certain financial covenants. Cash and cash equivalents increased $499 million in the six months ended June 30, 2026 due to $128 million cash acquired in the New Gold Transaction, a 49% and 133% increase in average realized gold and silver prices, respectively, and post-acquisition sales at Rainy River and New Afton. This was partially offset by transaction and integration related payments of $35 million, $123 million of income and mining tax payments at Palmarejo and Las Chispas, cash settlement of vesting performance shares of $72 million, $110 million of Company stock repurchases, finance leases prepayments of $43 million at Rochester, the inaugural dividend payment of $21 million and $200 million of capital expenditures.

Previous wording

We currently believe we have sufficient sources of funding to meet our business requirements for the next twelve months and longer term. We expect to use cash provided by operating activities and the cash acquired through the acquisition of New Gold to fund near term capital requirements, including those described in this 10-Q Report for our 2026 capital expenditure guidance, and to repurchase shares pursuant to the Company’s Expanded Program. Our longer-term plans contemplate continued exploration to extend the mine lives at our operating sites, reduction of debt, and additional investment to progress exploration and study work at the Silvertip project. Our long-term target leverage ratio of Net Debt to the Last Twelve Months Adjusted EBITDA is 0.0 times Adjusted EBITDA. Our current net leverage ratio is (0.1) times Adjusted EBITDA as of March 31, 2026.

Current wording

We currently believe we have sufficient sources of funding to meet our business requirements for the next twelve months and longer term. We expect to use cash provided by operating activities and the cash acquired through the acquisition of New Gold to fund near term capital requirements, including those described in this 10-Q Report for our 2026 capital expenditure guidance, to repurchase stock pursuant to the Company’s Expanded Program, and to continue declaring semi-annual dividends. Our longer-term plans contemplate continued exploration to extend the mine lives at our operating sites, reduction of debt, and additional investment to progress exploration and study work at the Silvertip project. Our long-term target leverage ratio of Net Debt to the Last Twelve Months Adjusted EBITDA is 0.0 times Adjusted EBITDA. Our current net leverage ratio is (0.2) times Adjusted EBITDA as of June 30, 2026.

Previous wording

Net cash provided by operating activities for the three months ended March 31, 2026 was $341 million, compared to $375 million for the three months ended December 31, 2025 and $68 million for the three months ended March 31, 2025. Adjusted EBITDA for the three months ended March 31, 2026 was $475 million, compared to $424 million for the three months ended December 31, 2025 and $122 million for the three months ended March 31, 2025 (see “Non-GAAP Financial Performance Measures”). Net cash provided by operating activities was impacted by the following key factors for the applicable periods:

Current wording

Net cash provided by operating activities for the three months ended June 30, 2026 was $513 million compared to $341 million for the three months ended March 31, 2026. Net cash provided by operating activities for the six months ended June 30, 2026 was $854 million compared to $275 million for the six months ended June 30, 2025. Adjusted EBITDA for the three months ended June 30, 2026 was $478 million compared to $475 million for the three months ended March 31, 2026. Adjusted EBITDA for the six months ended June 30, 2026 was $953 million compared to $336 million for the six months ended June 30, 2025 (see “Non-GAAP Financial Performance Measures”). Net cash provided by operating activities was impacted by the following key factors for the applicable periods:

Previous wording

Net cash provided by operating activities decreased $34 million for the three months ended March 31, 2026 compared to the three months ended December 31, 2025, primarily due to a 3% and 5% decrease in gold and silver ounces sold, timing of VAT collections at Palmarejo and Las Chispas, income and mining taxes paid at Palmarejo and Las Chispas, debt interest payments, and annual incentive payments. This was partially offset by a 15% and 53% increase in average realized gold and silver prices, respectively, and post-acquisition sales at Rainy River and New Afton. Revenue for the three months ended March 31, 2026 compared to the three months ended December 31, 2025 increased by $181 million, of which $194 million was due to higher average realized gold and silver prices, partially offset by $13 million due to lower volume of gold and silver which was partially offset by the addition of copper sales at New Afton in the current year.

Current wording

Net cash provided by operating activities increased $172 million for the three months ended June 30, 2026 compared to the three months ended March 31, 2026, primarily due to a 2% increase in gold ounces sold from Coeur’s legacy mines, full-quarter sales from Rainy River and New Afton, timing of VAT collections at Palmarejo and Las Chispas, and income and mining taxes paid at Palmarejo and Las Chispas, debt interest payments, and annual incentive payments paid in the first quarter. This was partially offset by a 1% decrease in silver sales and a 6% and 14% decrease in average realized gold and silver prices, respectively. Revenue for the three months ended June 30, 2026 compared to the three months ended March 31, 2026 increased by $229 million, of which $305 million was due to a full-quarter of sales from Rainy River and New Afton, partially offset by $75 million due to lower average realized gold and silver prices.