Dynacor Group (DNG) investor relations material

Executive summary

• Achieved record Q1-2026 results with strong operational performance and higher gold prices driving record production, sales, and earnings per share.

• Maintained at-capacity processing with 46,655 tonnes of ore and produced 32,791 AuEq ounces, a first-quarter record.

• Expansion projects in Senegal and Ecuador are progressing, with new plants expected online in 2026.

• CEO succession planned for June 2026, with COO Daniel Misiano to succeed Jean Martineau.

Financial highlights

• Q1-2026 sales reached $154.1 million, up from $80.0 million in Q1-2025, driven by higher gold prices and volumes.

• Gross margin was $17.4 million (11.3% of sales), up from $9.0 million (11.2%) year-over-year.

• EBITDA was $13.6 million, including $0.8 million in non-recurring expenses.

• Net income rose to $7.3 million from $5.1 million in Q1-2025.

• Operating cash flows before working capital changes were $10.1 million, up from $5.8 million.

Outlook and guidance

• Tracking 2026 guidance: sales of $530–$580 million, net income of $22–$26 million, and production of 125,000–135,000 AuEq ounces.

• Capital expenditure for 2026 planned at $32.5–$39 million, with major investments in Ecuador, Peru, and Senegal.

• Guidance assumes first ore from Senegal and Ecuador plants in 2026 and steady ore supply in Peru.