McEwen Mining Inc. (NYSE:MUX) Q1 2023 Earnings Conference Call May 9, 2023 11:00 AM ET Company Participants Rob McEwen - Chairman and Chief Owner Perry Ing - Chief Financial Officer William Shaver - Chief Operating Officer Michael Meding - Vice President and General Manager, McEwen Copper Stefan Spears - Vice President, Corporate Development Jeff Chan - Vice President, Finance Conference Call Participants Jake Sekelsky - Alliance Global Partners Marcus Giannini - H.C. Wainwright Joseph Reagor - ROTH Capital ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. (Exact name of registrant as specified in its charter) Colorado 84-0796160 Indicate by check mark ...

McEwen Mining Inc. (NYSE:MUX) Q4 2022 Earnings Conference Call March 14, 2023 11:00 AM ET Company Participants Rob McEwen - Chairman and Chief Owner Perry Ing - Chief Financial Officer William Shaver - Chief Operating Officer Michael Meding - Vice President and General Manager of McEwen Copper Stefan Spears - Vice President, Corporate Development Conference Call Participants Jake Sekelsky - Alliance Global Partners Heiko Ihle - H.C. Wainwright Mike Kozak - Cantor Fitzgerald John Tumazos - John Tumazos Very ...

Production and Sales - In 2022, consolidated production included 102,720 ounces of gold and 2,594,604 ounces of silver, with a total gold equivalent of 133,252 ounces[25]. - Revenue from gold and silver sales in 2022 was $47.9 million from the Gold Bar mine, $60.8 million from the Fox Complex, $1.6 million from the El Gallo mine, and $124.8 million from the San José mine on a 49% basis[27]. - The San José mine's production consisted of 55% doré and 45% concentrate, contributing significantly to the overall silver production[24]. Reserves and Resources - Attributable estimated proven and probable gold reserves were 0.3 million ounces at the Gold Bar mine and the San José mine, with 5.1 million ounces of proven and probable silver reserves at the San José mine as of December 31, 2022[33]. - As of December 31, 2022, the company reported proven gold reserves of 5,943 kt at the Gold Bar mine with a grade of 1.07 g/t, totaling 204 koz, and at the San José mine, proven reserves were 251 kt at 5.95 g/t, totaling 48 koz[40]. - The total silver reserves at the San José mine as of December 31, 2022, were 461 kt, with a combined grade of 341 g/t, totaling 5.1 Moz[40]. - The company had attributable estimated measured and indicated mineral resources of 3.3 million ounces of gold and 58.9 million ounces of silver as of December 31, 2022[51]. - The estimated inferred mineral resources included 3.3 million ounces of gold and 105.6 million ounces of silver as of December 31, 2022[51]. Mining Operations and Costs - The average ore tonne mining cost was reported at $4.97, with a total processing cost of $5.41 per ore tonne[43]. - The company experienced mining depletion and increased operating costs during 2022, impacting mineral reserves[46]. - The company plans ongoing exploration drilling to better define existing resources and extensions of known veins, which will be reflected in future mineral reserve estimates[50]. Financial Performance - The company incurred pre-tax losses of $80.3 million, $64.2 million, and $153.7 million for the years ended December 31, 2022, 2021, and 2020, respectively, with an accumulated deficit of $1.3 billion as of December 31, 2022[115]. - The company has an outstanding long-term secured debt of $50 million and an unsecured subordinated promissory note of $15 million, with monthly principal payments of $2 million starting August 31, 2023[117]. - The company relies on external funding for capital investments, which may lead to dilution of existing shareholders due to reliance on equity funding[116]. Market and Price Fluctuations - Gold prices fluctuated between $1,629 and $2,039 per ounce in 2022, while silver prices ranged from $17.77 to $26.18 per ounce; as of March 10, 2023, gold was priced at $1,861.25/oz and silver at $20.09/oz[114]. - The mineral reserves estimate for the Gold Bar mine was based on a gold price of $1,650/oz and a silver price of $22/oz[49]. Environmental and Regulatory Risks - The company’s operations are subject to environmental risks, which could lead to significant liabilities and operational disruptions[110]. - The company operates in areas with water scarcity, which poses risks to continuous production and operational demands[171]. - Environmental regulations are evolving, potentially increasing costs and liabilities for the company[172]. Employee and Community Relations - The company had 520 employees as of December 31, 2022, with a significant presence in Argentina, Mexico, and Canada[101]. - Over 93% of U.S. employees are enrolled in the medical benefit plan, indicating strong employee wellness offerings[102]. - The company must develop and maintain productive relationships with local communities to avoid civil unrest and potential operational disruptions[202]. Competition and Market Conditions - The company faces substantial competition in acquiring mineral properties and technical expertise, which may adversely affect its operations[88]. - The competitive landscape in the mining industry is challenging, with limited desirable mineral lands available for acquisition[174]. Political and Economic Risks - A significant portion of revenue in 2022 was generated from operations outside the United States, exposing the company to political and social risks[199]. - The company faces potential disruptions in operations due to political risks and violence in Mexico, particularly related to drug cartels[162]. Corporate Governance and Shareholder Relations - The company has not declared distributions to shareholders since March 2019, and any future distributions will depend on financial conditions and covenants in outstanding debt instruments[141]. - Future issuances of common stock may dilute current shareholders and reduce the market price of the stock[188].

Radisson Blu, Punta Cana, Dominican Republic 1 Q3 2022 Earnings Results Presentation November 7, 2022 Forward-looking Statements Certain matters discussed in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology, such as "expect," "estimate," "believe," "anticipate," "should," "will," "forecast," "plan ...

Financial Data and Key Metrics Changes - The company reported a cash gross profit of $5.8 million and a gross profit of $1.5 million for Q3 2022, compared to a GAAP loss of $10.5 million or $0.21 per share, reflecting significant investments in projects that were expensed rather than capitalized [9] - Gold equivalent production for Q3 was 35,700 ounces, down approximately 16% from 43,000 ounces in Q3 2021, but roughly equivalent to Q2 2022 production [11] - Cash costs per ounce were reported at $774, with all-in sustaining costs at $1,308 per ounce, driven by strong underground operations and a weaker Canadian dollar [12] Business Line Data and Key Metrics Changes - At the Fox complex, production was strong with 13,146 ounces produced, exceeding budget expectations, but mechanical issues in the processing plant limited availability to approximately 77% for the quarter [22][23] - Gold Bar produced 7,200 ounces in Q3, with cash costs at $1,712 per ounce and all-in sustaining costs at $2,049 per ounce, remaining elevated due to carbonaceous ore issues [14][28] - The San José mine in Argentina reported cash costs of $1,223 per ounce and all-in sustaining costs of $1,562 per ounce, reflecting improvements from earlier COVID-related production issues [16] Market Data and Key Metrics Changes - The company completed an $82 million financing, with a significant investment from a subsidiary of Rio Tinto, enhancing its financial position [4][17] - The cash equivalent balance stood at $55 million at the end of the quarter, unchanged from the beginning of the year, with the majority allocated to McEwen Copper [17][108] Company Strategy and Development Direction - The company is focusing on the development of the Gold Bar South deposit, which is expected to yield lower-cost production due to higher-grade ore and lower strip ratios [6] - McEwen Copper is advancing the Los Azules project towards a feasibility study, with significant investments planned for exploration and technical studies [48][54] - The company aims to enhance its exploration efforts, particularly at the Fox Complex and Gold Bar, with a global exploration budget of approximately $20 million for 2023 [93] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's value, estimating it to be between $8 to $30 per share based on the value of its assets, particularly highlighting the potential of the Los Azules project [58] - The management acknowledged challenges in production but emphasized ongoing improvements and the potential for future growth, particularly in copper due to its role in electrification [118] Other Important Information - The company is addressing mechanical issues in the Fox processing plant and is implementing systematic improvements to enhance throughput [23][71] - The acquisition of a processing plant in Mexico for $2.8 million is expected to save approximately $40 million in capital expenditures if built anew [69] Q&A Session Summary Question: Details on the processing plant acquired in Mexico - The processing plant was acquired for $2.8 million and is expected to save approximately $40 million in capital expenditures if built anew [69] Question: Production bottlenecks at Fox - The plant has been experiencing bottlenecks primarily due to aging equipment, and efforts are underway to improve production rates [71][83] Question: Average grade of surface stockpiles - The average grade of the surface stockpiles is reported at 2.44 grams per tonne, with ongoing additions of higher-grade ore [86][89] Question: Exploration budget for 2023 - The global exploration budget for 2023 is approximately $20 million, with a significant portion directed at the Fox Complex [93] Question: Dividend expectations from partner - There are currently no indications that the partner will pay dividends this year, but there may be updates in the first quarter of the following year [102] Question: Cash balance allocation - The majority of the $55 million cash balance is within the McEwen Copper subsidiary, with the remainder in McEwen Mining [108]

McEwen Mining Inc. (NYSE:MUX) Q2 2022 Earnings Conference Call August 11, 2022 11:00 AM ET Company Participants Rob McEwen – Chairman and Chief Owner Perry Ing – Chief Financial Officer William Shaver – Chief Operating Officer Stephen McGibbon – Executive Vice President-Exploration Michael Meding – Vice President, McEwen Copper and General Manager Conference Call Participants Jacob Sekelsky – Alliance Global Partners Mark Ehlert – LendUS Operator Hello, ladies and gentlemen. Welcome to McEwen Mining’s Q2 20 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. (Exact name of registrant as specified in its charter) Colorado 84-0796160 (State or other jurisdic ...

McEwen Mining Inc. (NYSE:MUX) Q1 2022 Earnings Conference Call May 13, 2022 12:00 PM ET Company Participants Rob McEwen - Chairman and Chief Executive Officer Anna Ladd-Kruger - Chief Financial Officer Rory Greyvensteyn - Director of Operations, Canada Adrian Blanco - Director of Operations USA & Mexico Stephen McGibbon - Executive Vice President of Exploration Michael Meding - Vice President, Copper and General Manager Bill Shaver - Director Conference Call Participants Marcus Giannini – H.C. Wainwright & ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33190 MCEWEN MINING INC. Colorado 84-0796160 (State or other jurisdiction of (I.R.S. Employer incorporation or organization ...