Endeavour Silver : Pitarrilla Webcast Presentation

Endeavour's Acquisition of Pitarrilla

One of the World's Largest Undeveloped Silver Projects

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Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the timing and completion of the Transaction, estimates of mineral resources including the Historical Estimate, future plans and objectives of the Company, proposed operations of the Company at Pitarrilla including mine development and future events and conditions that are not historical facts. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law

Forward-looking statements are based on assumptions management believes to be reasonable including, but not limited to, the ability to obtain regulatory approvals required for completion of the Transaction, the reliability of mineral resource estimate, the continuation of exploration and mining operations, no material adverse change in the market price of commodities, mining operations and production will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the inability or failure of the Company or SSR Mining to satisfy the conditions for closing the Transaction including regulatory approvals; the availability of funds; the financial position of the Company, timing and content of work programs; results of exploration activities and development of mineral properties; the calculation of mineral resources including the Historical Estimate; the receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses; currency fluctuations; the ultimate impact of the COVID 19 pandemic on operations and results; national and local governments' legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development and risks in obtaining necessary licenses and permits.

Although the forward-looking statements contained herein reflect management's current beliefs and reasonable assumptions based upon information available to management as of the date hereof, Endeavour cannot be certain that actual results will be consistent with such forward-looking information. As a result, the Company cannot guarantee that the Transaction will be completed on the terms and within the time disclosed herein or at all.

All dollar amounts are denominated in U.S. dollars unless specified otherwise.

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Other Notes and Disclaimers

Historical Estimate - Pitarrilla Project

Pitarrilla is a large undeveloped silver, lead, and zinc project located 160 kilometres north of Durango City, in northern Mexico. The Pitarrilla property consists of 4,950 hectares across five concessions and has significant infrastructure in place with direct access to utilities. SSR Mining filed a technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") titled "NI 43-101 Technical Report on the Pitarrilla Project" dated December 14, 2012 (the "2012 Technical Report"). The 2012 Technical Report provided a feasibility study outlining a large, mainly open-pit operation and a mineral resource estimate, which has since been updated by SSR Mining for its Annual Information Form for the financial year ended December 31, 2020 (together, the "Historical Estimate"). The economic analysis presented in the 2012 Technical Report is not considered current, is not being relied upon by Endeavour and should not be considered as representing the expected economic outcome under Endeavour's ownership. A qualified person has not done sufficient work to classify the Historical Estimate as current mineral resources or mineral reserves. The Company is not treating this information as current mineral resources or reserves, has not verified this information and is not relying on it. Following closing of the Transaction, Endeavour plans to prepare a current mineral resource estimate for Pitarrilla, develop exploration targets and analyze the economics of various scales of production.

Third Party Information

This presentation includes market and industry data which was obtained from various publicly available sources and other sources believed by Endeavour to be true. Although Endeavour believes this information to be reliable, Endeavour has not independently verified any of the data from third-party sources referred to in this presentation or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. Endeavour does not make any representation as to the accuracy of such information.

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Acquisition of Pitarrilla Leverages Existing Platform in Mexico

One of the world's largest undeveloped silver projects1 Potential for long mine life based on Historical Resource Estimate

Enhances Endeavour's robust growth pipeline

Significant exploration potential as land package on prolific mineral belt remains largely underexplored

Pitarrilla Project, Durango State, Mexico Located on Prolific Mexican Mineral Belt

Significant optionality and leverage to silver price

Other mines and projects

Once a current mineral resource is defined, Pitarrilla expected to be substantially accretive on a silver equivalent resource per share metric

1 One of the world's largest undeveloped silver deposits is based on publicly filed data available on SNL Metals and Mining and company disclosure as at December 31, 2021 and includes the following projects: Navidad project (Argentina), Cordero (Mexico) and Escobal (Guatemala).

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Compelling Acquisition Rationale

One of world's largest	• As outlined in the 2012 Technical Report and updated in the SSR Mining 2020 AIF, Pitarrilla has the following historical estimate:
- a measured & indicated mineral resource (open-pit and underground) of 525.27 million ounces (oz) silver (Ag) in 164.79
undeveloped
million tonnes grading 99.1 grams per tonne (gpt) Ag
silver projects1
- an open-pit inferred mineral resource of 21.21 million oz Ag in 8.52 million tonnes at an average grade of 77.4 gpt and
(based on M&I)
	underground inferred mineral resource of 5.46 million oz Ag in 1.23 million tonnes at a grade of 138.1 gpt
	• Acquisition is an excellent fit for Endeavour's experienced regional team, which has a successful development, exploration and
Leverages Endeavour's
underground mining track record
platform and experience in
Mexico
	• Once a current resource is defined, Pitarrilla is expected to be accretive on a silver equivalent resource per share metric
Value creation	• Endeavour expects to maintain significant silver exposure, silver beta and trading multiples
• Pitarrilla provides additional optionality in a rising silver price environment
	• Pitarrilla, together with Endeavour's Terronera and Parral, form the key cornerstones of Endeavour's mid to long-term growth profile
Enhances Endeavour's	• Currently categorized as a development asset by SSR Mining, Pitarrilla has been de-risked - several key exploration and mining
attractive growth pipeline	permits have been obtained and collaboration agreements are in place with the local community
• Over the next several years, analyze the economics of various scales of production, including underground option and then advance
	towards potential development and production to strengthen Endeavour's long-term production and free cash flow profile
	• Deposit remains open with minimal drilling completed to explore the deposit at depth
Exploration upside	• Significant underexplored land package with opportunity to make new discoveries
remains	• Geology at Pitarrilla and at Endeavour's underground mines - Guanacevi and Bolanitos - is broadly similar
	• Upside potential from upper oxide resource as well as open-pit and underground optionality

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1 One of the world's largest undeveloped silver deposits is based on publicly filed data available on SNL Metals and Mining and company	5
disclosure as at December 31, 2021 and includes the following projects: Navidad project (Argentina), Cordero (Mexico) and Escobal (Guatemala).