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Investor Presentaiton

Caribou Mine - Canada 1.5 billion lbs contained zinc (in measured & indicated resources - as at December 31, 2019) 2019 Production² (100% basis) Zn 75 million payable lbs Zinc Pb 27 million payable lbs Lead Ag 705,000 payable ozs Silver CARIBOU CANADA TREVALI Highlights Mill proven to operate above nameplate of 3 ktpd Studies of the Bathurst camp including the potential inclusion of satellite deposits, modification to the existing mining method and metallurgical opportunities to increase throughput and reduce the cost structure of Caribou Northern limb open to mineralized extensions (1) Includes the Restigouche, Halfmile and Stratmat projects. Reserves and Resources (as at December 31, 2019) Category Tonnes Zn (%) Pb (%) Ag (g/t) Proven Reserves 1.54 6.83 2.47 74.00 Probable Reserves 1.12 6.31 2.59 76.40 Proven and Probable Reserves 2.66 6.61 2.52 75.04 Measured Resources 6.65 6.67 2.47 71.93 Indicated Resources 3.81 6.21 2.48 75.16 Measured and Indicated Resources Inferred Resources 10.46 6.50 2.47 73.11 5.31 6.11 2.48 74.64 See "Compliance with NI 43-101" for additional information on the mineral reserves and mineral resources in above table. Proven & Probable Reserves included in Measured & Indicated Resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability. (2) The Caribou operation was put on a temporary care and maintenance program on March 26th, 2020. Planned restart of operations was announced on January 15th, 2021 "Trevali to Restart Caribou Mine with Improved Economics; Continues Studies on Longer Term Value Potential". 20 20
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