AYA · Aya Gold & Silver Inc. Common Shares

The Q2 2026 production results underscore Aya Gold & Silver's operational momentum and successful execution of its growth strategy. The record consolidated production of 1.68 million silver equivalent ounces, a 61% year-over-year increase, was primarily driven by the Zgounder Silver Mine, which produced 1.49 million ounces of silver—a 43% YoY and 18% QoQ improvement. The mill processed 353,888 tonnes at a record rate of 3,889 tonnes per day, reflecting a 29% increase in throughput compared to Q2 2025. This was achieved with strong mill availability of 97% and improved recovery of 91.2%, up from 86.5% in the prior year quarter. Management attributed the performance to disciplined execution and optimization initiatives, with CEO Benoit La Salle stating the company is well positioned to achieve its 2026 production targets. Mining operations achieved a record mining rate of 4,880 tonnes per day, supported by both open-pit and underground operations. The stockpile increased 33% QoQ to 373,884 tonnes, aligning with the company's objective of building a three-month inventory buffer. Additionally, the newly launched Boumadine pyrite reclaim operation contributed 187,784 silver equivalent ounces during the quarter. While production was partially impacted by weather disruptions, operations normalized through the quarter, and the company expects bulk shipping to significantly enhance pyrite shipping capacity in the second half of 2026. The Boumadine reclamation is expected to last 20–24 months from November 2025, providing a near-term production boost while the company continues to advance its larger polymetallic project. Overall, these results demonstrate strong operational leverage and position Aya for continued growth.