Asante Gold (ASE) investor relations material

Executive summary

• Q3 2026 production was 48,517 gold-equivalent oz; 9M production rose 41.0% YoY to 165,594 oz. Consolidated AISC was $4,860/oz in Q3 and $4,308/oz in 9M.

• 9M revenue reached $756.668M; operating profit was $39.033M versus a $96.867M loss, while net loss narrowed to $84.385M from $297.035M.

• Bibiani operational constraints led to withdrawal of 2026 production and AISC guidance; Chirano output improved.

• A turnaround plan for both mines, including remediation milestones, timelines and capital needs, is expected in January 2027.

Financial highlights

• 9M revenue rose 103.3% YoY to $756.668M, driven by higher realized gold prices and 45.1% more gold-equivalent ounces sold.

• Q3 gross profit was $3.402M versus an $18.953M loss; 9M gross profit was $79.2M versus a $83.2M loss.

• Q3 net loss was $44.933M versus $217.778M; 9M net loss was $84.385M versus $297.035M.

• Adjusted EBITDA was $34.7M in Q3 and $194.8M in 9M, versus losses of $6.4M and EBITDA of $0.6M in the comparable 2025 periods.

• 9M operating cash flow was $233.386M versus cash used of $123.750M; investing cash outflow was $226.638M.

Outlook and guidance

• 2026 guidance of 275,000–300,000 equivalent oz at consolidated AISC of $3,200–$3,600/oz was withdrawn after Bibiani underperformed.

• Main Pit southeast wall remediation is targeted for early December 2026, with higher-grade ore access expected from Q1 2027.

• Bibiani priorities include restoring Main Pit ore delivery, stabilizing processing and recovery, and completing Phase 1 resettlement by year-end 2026.

• Additional Bibiani backup generator capacity is expected by year-end 2026; automated restart and plant-stability measures are also underway.

• The operational turnaround plan is expected in January 2027; associated capital needs and funding alternatives remain under evaluation.