Understanding an example of coin toss expectation maximization
From mcdowella's answer to IcySnow's question Expectation Maximization coin toss examples, Michael Collins' EM Algorithm (pdf) paper presets the "Three Coins Example" in section 3.1 (pdf page 8-9) and explains the steps for recalculating the parameters $\lambda, p_1, p_2$ in accordance with the EM Algorithm.

The derivation is too lengthy to type up here, but to summarize, you'll formulate the conditional expectation in terms of the previous iteration of parameter values and then differentiate the expectation with respect to each parameter from the previous iteration then perform algebra to obtain the maximum after setting the derivative to zero.