Fortuna Silver Mines amended its existing senior secured revolving credit facility with BNP Paribas, The Bank of Nova Scotia, Société Générale and other financial institutions and lenders, to increase the maximum facility amount by US$50 million to US$250 million. The maturity date of the credit facility remains unchanged and matures in November 2025.

Key amendments to the credit facility include:

• Addition of an uncommitted US$50 million accordion option which can increase the aggregate principal amount under the credit facility to US$300 million, exercisable on or after June 1, 2023 and before October 2024

• An increase in the step-down level of the facility from US$150 million to US$175 million in November 2024

• Replacement of discontinued LIBOR based interest rates by Secured Overnight Financing Rate (SOFR) based rates published by the Federal Reserve Bank of New York and the inclusion of market standard benchmark interest rate replacement provisions

• 25 basis points increase in the benchmark loan interest rate margins and 9 to 12 basis points increase in the commitment fee rate; the actual margin and rate will be determined based on the Company’s net senior secured leverage ratio

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and a fifth mine under construction in Côte d'Ivoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility.