Financial Data and Key Metrics Changes - Revenue decreased by 35% and earnings declined by 275% due to a strategic decision to withhold the sale of a significant amount of metal, resulting in approximately 1.6 million silver equivalent ounces in finished goods inventory valued at nearly $35 million [7][8] - Operating cash flow before working capital fell by 60% [7] - Cash costs averaged a little over $10 per ounce and all-in sustaining costs averaged a little over $19.50 per ounce net of the gold credit [11] Business Line Data and Key Metrics Changes - Silver production increased by nearly 30%, driven by strong performance at the Guanacevi mine, while gold production decreased by 17% due to the closure of the El Compas mine [9] - The company increased its annual production outlook to 7.6 to 8.0 million silver equivalent ounces for the year, reflecting better-than-anticipated operating performance at Guanacevi [13] Market Data and Key Metrics Changes - The S&P is down 20%, gold and silver equities are down 30%, and the company's stock is trading down about 30% despite robust operational performance [6] - The company expects a bullish environment for gold and silver as peak rate expectations are nearing and inflation remains persistent [6] Company Strategy and Development Direction - The company is focusing on cost control and efficiency improvements, particularly in development operations, to mitigate inflationary pressures [14][25] - A significant priority is the development of the Terronera project, with an additional $23 million approved for development expenditures [15][17] - The acquisition of the Pitarrilla project, the world's largest undeveloped silver deposit, is expected to enhance the company's growth potential and regional expertise [18] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the long-term strength of silver prices and is taking an opportunistic stance on potential M&A opportunities despite having a full plate [35] - The company acknowledges ongoing inflationary pressures but has locked in prices for much of its long lead items to mitigate these costs [38][40] Other Important Information - The company is working on engineering construction of access roads and site clearing for the Terronera project [16] - The exploration team will focus on verifying historic resources at the Pitarrilla project and exploring additional targets [18] Q&A Session Summary Question: Can you break down where you think you can bring out some efficiencies out of the business? - Management indicated that quantifying savings by category is difficult but is focusing on development side efficiencies, particularly in bolting and meshing costs due to inflation in steel [22][24] Question: How do you think about the impact of cost inflation on the Terronera project? - Management is mindful of inflation but has locked in many lead items and is comfortable with the $175 million estimate, although adjustments may be necessary [38][40] Question: What percentage of the $175 million has already been locked in? - Approximately 25% to 30% of the costs have been locked in [42] Question: How many tonnes of third-party ore did you process in the first half? - About 13% of total tonnes processed were third-party ore, with 15% in Q2 and 11% in Q1 [49] Question: When will drilling at Bruner Gold begin? - Drilling is scheduled for late Q3 to early Q4, with results expected by the end of the year or early next year [52]

Financial Data and Key Metrics Changes - Consolidated Q1 production increased by 4% year-over-year to 2 million silver equivalent ounces, offsetting the suspension of El Compas operations [5] - Revenue rose approximately 67%, attributed to the sale of unsold bullion from 2021 at significantly higher prices, contributing to cash flow from operating activities of over $22 million [8] - As of March 31, the company had $151 million in cash and no long-term debt aside from normal equipment leases, with working capital of $168 million [9] Business Line Data and Key Metrics Changes - Guanacevi experienced a strong quarter with higher silver and gold grades, expected to continue in the near term [6] - At Bolañitos, gold grades and ounces produced decreased, while silver ounces and grades increased significantly; production is expected to remain steady [7] Market Data and Key Metrics Changes - The company is facing inflationary pressures, particularly in power costs, which are the third largest expense, and labor costs, which are difficult to negotiate down due to union contracts [20] - Approximately 33% of operating costs are incurred in Mexican pesos, with the remaining 66% split between local and U.S. dollar costs [27] Company Strategy and Development Direction - The company is focused on securing financing for the Terronera project, which is expected to double production and halve cost profiles [12] - The acquisition of Pitarrilla, one of the world's largest undeveloped silver deposits, is anticipated to close by the end of June, with immediate work planned to define resources and advance the project [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by inflation and supply constraints but emphasized ongoing efforts to mitigate costs through combined purchasing practices [10][20] - The company is confident in its balance sheet, with a strong cash position and plans to secure project loan financing for Terronera [30][31] Other Important Information - A new sustainability strategy focusing on people, planet, and business was introduced, with a 2021 sustainability report set to be released [16] Q&A Session Summary Question: Can you provide examples of where negotiating with workers is working and where it isn't? - Management noted that power costs and labor are difficult to negotiate down, but they are exploring combined purchasing strategies to mitigate some inflationary pressures [20] Question: What is a safe cash basis G&A number for forecasting? - Management indicated that G&A expenses on a cash basis are budgeted between $6 million and $8 million, with Q1 typically having higher costs due to administrative activities [22] Question: How comfortable are you with the June target for the Pitarrilla acquisition? - Management expressed confidence in the June target, stating that they have answered all regulatory questions and expect to close soon [24] Question: Can you distinguish between inflation rates in local currency versus U.S. dollar rates? - Management explained that labor costs are incurred in pesos, while about half of the remaining costs are tied to the U.S. dollar, with inflation rates tracking similarly in both currencies [26][28] Question: How does the company view its balance sheet and the desire for more dry powder? - Management stated that the balance sheet is strong, with no immediate need for additional capital, focusing instead on the upcoming projects [30][32]

Endeavour Silver Corp. (NYSE:EXK) Q4 2021 Earnings Conference Call March 10, 2022 1:00 PM ET Company Participants Trish Moran - Interim Head of Investor Relations Dan Dickson - Chief Executive Officer Christine West - Chief Financial Officer Don Gray - COO Dale Mah - VP Corporate Development Luis Castro - VP Exploration Conference Call Participants Joseph Reagor - ROTH Capital Partners Matthew Key - B. Riley Securities Mark Reichman - Noble Financial John Tumazos - John Tumazos Very Independent Research Ope ...

Financial Data and Key Metrics Changes - Year-over-year silver production increased by nearly 40%, driven by record production at Guanacevi, while gold production increased by 3% [5] - The company is tracking to the upper end of its full year 2021 production guidance, which was revised upwards in October [6] - The decision to withhold metal sales due to soft precious metal prices negatively impacted third quarter revenue, earnings, and mine operating cash flow [7] Business Line Data and Key Metrics Changes - Operations at El Compas were suspended, representing only 5% of consolidated annual production, with minimal impact on overall projections [6] - The company is carrying a larger than normal finished goods inventory due to withheld metal sales, which is less than $1 million below estimated fair market value [7] Market Data and Key Metrics Changes - Silver prices dropped from $24 to $21.5 during Q3, but have since rebounded above $24 [20] Company Strategy and Development Direction - The development of the Terronera mine is a key focus, expected to double production and cut costs in half upon completion [13] - An updated feasibility study for Terronera showed a 33% increase in reserves and extended mine life from 10 to 12 years [8] - The company plans to fund the Terronera development through cash on hand, operating cash flow, and debt financing, with an $80 million to $100 million debt facility in progress [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future, highlighting a solid third quarter and expectations for a strong finish to the year [33] - The company remains optimistic about opportunities in both Nevada and Mexico, emphasizing strong relationships with local communities [27][29] Other Important Information - The company acquired the Bruner Gold Project for $10 million, with plans to spend $1 million to $1.5 million on exploration in 2022 [17][18] - Initial earthworks and early procurement activities for Terronera are underway, with a budget of $13 million for Q4 2021 [22][11] Q&A Session Summary Question: Exploration plans for the Bruner Gold Project - The company plans to provide guidance on exploration plans for 2022 in early January, with an envisioned budget of $1 million to $1.5 million for exploration [17][18] Question: Plans for selling withheld metals - The company intends to sell withheld metals in the coming months, depending on market prices, with a focus on not selling into a falling market [19][20] Question: Spending on Terronera in Q4 and Q1 - A budget of $13 million is allocated for early works from September to December 31, with monthly holding costs of about $500,000 [22][24] Question: Opportunities in Nevada and Mexico - The company sees opportunities in both Nevada and Mexico, maintaining a positive outlook on the political climate in Mexico and its competitive advantages [26][27][29]

Profitable Production, Compelling Growth Insert Presentation Title APRIL 22, 2021 TSE: EDR | NYSE: EXK August 10, 2021 TSX: EDR | NYSE: EXK www.edrsilver.com . ankill 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 the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include, but are not limited ...

Endeavour Silver Corp. (NYSE:EXK) Q2 2021 Earnings Conference Call August 10, 2021 1:00 PM ET Company Participants Galina Meleger - Investor Relations Dan Dickson - Chief Executive Officer Christine West - Chief Financial Officer Don Gray - Chief Operating Officer Conference Call Participants Jake Sekelsky - Alliance Global Partners Heiko Ihle - H.C. Wainwright Cosmos Chiu - CIBC Joseph Reagor - ROTH Capital Partners Ryan Thompson - BMO Mark Reichman - Noble Capital Markets Operator Thank you for standing b ...

Endeavour Silver Corp (NYSE:EXK) Q1 2021 Results Conference Call May 11, 2021 1:00 PM ET Company Participants | --- | |-------------------------------------------------| | | | Galina Meleger - Director of Investor Relations | | Bradford Cooke - Chief Executive Officer | | Daniel Dickson - Chief Financial Officer | | Donald Gray - Chief Operating Officer | | Conference Call Participants | Operator Thank you for standing by. This is the conference operator. Welcome to the Endeavour Silver Corp. 2021 First Qua ...

| --- | --- | --- | --- | --- | |---------------------------------------------|-------|--------------------------|-------|--------------| | | | | | | | | | | | | | Profitable Production, Compelling Growth | | TSX : EDR \| NYSE : EXK | | May 11, 2021 | 1 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 the meaning of applicable Canadian securities legislatio ...

| --- | --- | --- | --- | --- | |---------------------------------------------|-------|--------------------------|-------|---------------| | | | | | | | | | | | | | Profitable Production, Compelling Growth | | TSX : EDR \| NYSE : EXK | | April 8, 2021 | 1 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 the meaning of applicable Canadian securities legislat ...

Endeavour Silver Corp. (NYSE:EXK) Q4 2020 Earnings Conference Call March 1, 2021 1:00 PM ET Company Participants Galina Meleger - Director, Investor Relations Bradford Cooke - Chief Executive Officer Conference Call Participants Jake Sekelsky - Alliance Global Partners Heiko Ihle - H.C. Wainwright Joseph Reagor - Roth Capital Partners Craig Hutchison - TD Securities Lucas Pipes - B. Riley Operator Thank you for standing by. This is the conference operator. Welcome to the Endeavour Silver Corp. 2020 Fourth Q ...