Tier One Silver Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019
Period Ending	Dec '25 Dec 1, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2019
Market Capitalization	32	12	15	39	103	-	Upgrade
Market Cap Growth	80.07%	-21.20%	-61.11%	-62.13%	-	-	Upgrade
Enterprise Value	28	12	15	36	95	-	Upgrade
Last Close Price	0.13	0.07	0.10	0.28	0.82	-	Upgrade
PB Ratio	6.03	23.81	6.37	9.40	21.48	-	Upgrade
P/TBV Ratio	6.03	23.81	6.37	9.40	21.48	-	Upgrade
Quick Ratio	8.41	0.21	0.85	1.94	2.42	5.67	Upgrade
Current Ratio	8.62	0.43	1.23	2.86	3.12	5.98	Upgrade
Return on Equity (ROE)	-72.58%	-255.16%	-167.51%	-172.77%	-317.49%	-67.56%	Upgrade
Return on Assets (ROA)	-32.82%	-85.78%	-74.54%	-84.41%	-166.04%	-39.68%	Upgrade
Return on Capital (ROIC)	-42.60%	-167.04%	-101.36%	-106.58%	-192.61%	-41.72%	Upgrade
Return on Capital Employed (ROCE)	-38.40%	-384.70%	-201.40%	-172.70%	-339.50%	-52.00%	Upgrade
Earnings Yield	-7.29%	-30.77%	-36.06%	-19.81%	-16.95%	-	Upgrade
FCF Yield	-	-19.05%	-28.00%	-18.19%	-12.86%	-	Upgrade
Buyback Yield / Dilution	-9.82%	-14.02%	-9.90%	-8.12%	-9.98%	-	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.