HYCROFT MINING HOLDING Business Summary

Hycroft Mining Holding Corp (HYMC) is a gold and silver development company that operates the Hycroft Mine in Northern Nevada, home to one of the largest undeveloped precious metals deposits in North America. The company’s business model is currently centered on the technical de-risking and transition of its single-asset operation from historical heap leaching to a large-scale milling and pressure oxidation process designed to recover gold and silver from a massive sulfide ore body. As of early 2026, Hycroft is in a pre-commercial phase with zero trailing revenue, focusing instead on its 2025-2026 exploration program to expand high-grade silver zones at the Vortex and Brimstone systems. It competes directly with mid-tier and senior producers such as First Majestic Silver, Newmont, and Eldorado Gold, distinguishing itself through a debt-free balance sheet and a resource base exceeding 10 million ounces of gold and 360 million ounces of silver. The executive leadership is headed by President and CEO Dr. Diane Garrett, whose 30-year career includes leading Romarco Minerals through its $1 billion acquisition by OceanaGold. She is supported by Executive Vice President and CFO Stanton Rideout, a veteran of Phelps Dodge, and Senior VP of Operations David Thomas. The company’s capital structure is uniquely defined by the significant influence of billionaire investor Eric Sprott, who holds an indirect stake of over 40% as of February 2026, and a strategic partnership with AMC Entertainment, represented on the board by AMC CFO Sean Goodman. Under the chairmanship of Thomas Weng, the board oversees a well-funded mandate supported by approximately $175 million in unrestricted cash, positioning the team to advance the project toward a final investment decision without immediate reliance on capital markets.