Endeavour Silver forecasts combined output from Terronera, Guanaceví and Kolpa of 8.3–8.9 Moz of silver and 46–48 koz of gold in 2026. Kolpa’s base‐metal contribution is pegged at 22–24 kt of lead, 16–18 kt of zinc and 650–750 t of copper, yielding a consolidated 14.6–15.6 Moz AgEq. Terronera’s 2,000 tpd plant is expected to produce 2.4–2.6 Moz of silver and 35–36 koz of gold; Guanaceví at 1,050 tpd 3.6–3.8 Moz of silver and 11–12 koz of gold; Kolpa at 2,400 tpd 2.3–2.5 Moz of silver. Compared with 2025 guidance, increased silver volume from newly integrated mines offsets lower gold output, driving per‐ounce efficiencies.

Consolidated cash costs are forecast at $12.00–$13.00 per payable silver ounce, down from 2025, reflecting higher silver volumes and stronger estimated prices for gold and base metals. AISC are set at $27.00–$28.00 per ounce, slightly above 2025 due to ramp‐up sustaining development at Terronera and post-acquisition investment at Kolpa. Direct operating costs per tonne are budgeted at $140–$150, with Terronera at $130–$140, Guanaceví at $180–$190 and Kolpa at $130–$140. Direct costs per tonne, including royalties and duties, range $170–$180, rising by approximately $0.90 at Terronera, $3.80 at Guanaceví and $0.50 at Kolpa for each $1/oz increase in silver price.

Total sustaining capital is set at $91.0 M, with $56.7 M at Terronera (including $32.9 M for 9.0 km of mine development), $24.5 M at Guanaceví and $9.8 M at Kolpa. Growth capital of $66.8 M includes $48.0 M for the Pitarrilla project, $16.7 M at Kolpa expansion and $1.8 M for exploration programs across Mexico and Peru. All budgets assume funding from operating cash flow at a base silver price of $36/oz, gold at $3,240/oz and FX rates of 18.50 MXN/USD and 3.60 PEN/USD.