In September 2021, Endeavour published a Feasibility Study for the Terronera project estimating significant production and favourable economics. Set to become our largest and most profitable mine, the project is now advancing toward financing and construction decision.

Located in Jalisco state, Mexico, Terronera will be an underground mine producing silver and gold. The tailings will be a dry stack facility, which reduces a tailings footprint, water use and long-term risk. To ensure responsible development of Terronera, we are adhering to the Equator Principles, a risk management framework for determining, assessing and managing environmental and social project risk.

The Equator Principles (known as EP4) help ensure that large scale development or construction projects appropriately consider potential impacts on society and the environment. As part of our compliance with

EP4, we are:

• Assessing the potential for cleaner energy options. Our current plan is to generate power using liquified natural gas (LNG).

• Complementing our existing government approved Environmental Impact Assessment with IFC guidelines on environmental and social baseline and impact assessments.

• Augmenting our greenhouse gas (GHG) emissions accounting with enhanced reporting based on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).

• Enhancing our social and environmental management systems and undertaking human rights due diligence.

• Promoting the company´s grievance channel, the Endeavour Trust Line, to respond to any external or internal issues that might rise.

• Collaborating with local stakeholders to identify and develop a reliable, sustainable supply chain and workforce.

Our efforts carried out at Terronera and in the surrounding communities will have a cascade effect on how we do things across our company operations, as this framework has helped us identify areas of opportunity and improvement.

Endeavour has made key strategic additions to the Project Management, Community Relations and Environment teams over the last year. We also have opened a project office in Puerto Vallarta and a community relations office at the project site in Santiago de los Pinos, both to promote dialogue and participation with our interested stakeholders. Endeavour currently employs 61 full time staff at these two locations.