Gatos Silver Investor Presentation Deck

Disclaimer S GATOS SILVER Cautionary Note Regarding Forward-Looking Statements This presentation contains statements that constitute "forward looking information" and "forward-looking statements" within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this presentation, including statements regarding potential mine life extension, expected cash distributions from the LGJV, timing of delivering a new life of mine plan, 2023 production and cost guidance, sustainability of cash flows, go-forward capital requirements, growth initiatives, capital expenditure requirements, prospective Los Gatos district-scale potential, mineral resource and reserve estimates, timing of issuing updated mineral resource and mineral reserve estimates, life of mine, future operating and capital costs, potential productivity, cost and margin improvements, future mill throughput rates, potential results from exploration (including strategic targets to maintain production, identify and delineate additional resources or reserves, and extend mine life through resource conversion, South-East Deeps and near-mine exploration) are forward-looking statements. Forward-looking statements are based on management's beliefs, assumptions, current expectations about future events and on information currently available to management including without limitation assumptions about commodity prices, mining methodologies, the accuracy of Mineral Reserve and Resource estimates, operating and capital costs, plant throughput and processing recoveries, favourable operating conditions, and including other assumptions set out herein and set out in the 2023 Technical Report (defined below). Such statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements including without limitation, commodity prices, change in regulations, failure to retain or obtain permits and licenses, environmental risks, cost and timing of exploration, development and production, opposition to mining may arise, labour interruptions, other general risks associated with mining operations and such other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission and Canadian securities commissions. Further, although the Company has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Gatos Silver expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this presentation to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved, and as such, readers should not place undue reliance on forward-looking statements. Forward looking statements speak only as of the date of this presentation. Notice Regarding Mineral Disclosure The mineral resource and reserve estimates and LOM plan presented are based on a variety of estimates and assumptions relating to, among other things, geological interpretation, statistical inferences, commodity prices, mining methodologies, operating and capital costs, plant throughput and processing recoveries and operating conditions. In particular, material assumptions and risks include those described in our press release dated September 6, 2023 and in the technical reports filed by Gatos Silver, Inc in October 2023 on EDGAR and SEDAR+ (the "2023 Technical Report"), including metal prices, as well as our ability to reduce operating costs, increase ramp development rates and dewater the mine in a cost-effective manner. There can be no assurance that the assumptions will actualize or be correct, and changes to any of these assumptions or our inability to achieve these assumptions may result in actual results to deviate significantly from those in this presentation. Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Qualified Persons Scientific and technical disclosure in this press release was approved by Anthony (Tony) Scott, P.Geo., Senior Vice President of Corporate Development and Technical Services of Gatos Silver who is a "Qualified Person" as defined in S-K 1300 and NI 43-101. Non-GAAP Financial Performance Measures This presentation contains non-GAAP financial performance measures. See Appendix slide 16-18 for more information on these non-GAAP financial performance measures and GAAP reconciliation. All dollar amounts are expressed in, and references to "$" refer to, United States dollars unless otherwise noted. Silver equivalent production is calculated using price assumptions of $22/oz Ag, $1.20/lb Zn, $0.90/lb Pb, and $1,700/oz Au to "convert" zinc, lead and gold production contained in concentrate to "equivalent" silver ounces (contained metal, multiplied by price, divided by silver price). 2

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