Endeavour Silver Prices Offering of Convertible Senior Notes

Executive Summary

• Endeavour Silver priced its unsecured convertible senior notes due 2031, targeting up to US$350 million aggregate principal amount (US$300 million base plus a US$50 million over‑allotment option).
• Net proceeds will be used to repay the senior secured credit facility with ING Capital/ING Bank and Societe Generale, fund advancement of the Pitarrilla project in Durango, Mexico, and support general corporate and strategic opportunities.
• The notes carry a 0.25 % semi‑annual cash interest and an initial conversion rate of 80.2890 shares per US$1,000 principal (≈US$12.455 per share), representing roughly a 32.5 % premium to the current market price.

Key Details

• Offering Size: Up to US$350 million aggregate principal amount
• Base issuance: US$300 million
• Over‑allotment option: Additional US$50 million (if fully exercised)
• Interest Rate: 0.25 % per annum, payable semi‑annually
• Maturity: 2031
• Conversion Terms:
• Initial conversion rate – 80.2890 common shares per US$1,000 principal amount
• Implied initial conversion price – approximately US$12.455 per share
• Premium to market – ~32.5 % over today’s closing NYSE price
• Use of Proceeds:
• Repayment of senior secured debt facility with ING Capital LLC/ING Bank N.V. and Societe Generale (the “Credit Facility”)
• Funding the advancement of the Pitarrilla project in Durango State, Mexico
• General corporate purposes, including strategic opportunities
• Closing Date: Expected on or about December 4, 2025, subject to customary conditions and regulatory approvals (TSX, NYSE).
• Offering Structure: Unsecured convertible senior notes offered under Rule 144A (qualified institutional buyers) in the U.S. and Regulation S internationally; not registered under the U.S. Securities Act or Canadian prospectus requirements.

Notable Quotes

(No executive quotes were included in the release.)