Eldorado Gold (ELD) investor relations material

Strategic growth and operational highlights

• Achieved a peer-leading growth profile with gold and copper production ramping up in the next quarter, supported by long-life assets and a focus on operational excellence.

• Transitioning from heavy investment to significant cash generation in 2027, enabling increased shareholder returns through dividends and buybacks.

• Portfolio spans six assets across Canada, Greece, and Turkey, with mine lives averaging 13–14 years and new copper exposure set to contribute 15% of revenue.

• Skouries and McIlvenna Bay are entering commercial production, with Skouries offering a 20-year mine life and McIlvenna Bay poised for potential expansion.

• Expansion projects at Olympias and Kisladag are underway, with further staged expansions at Lamaque and McIlvenna Bay planned for the coming years.

Financial performance and capital allocation

• Net debt stands at $1.2 billion, with $550 million in cash and an $11 billion market cap.

• Returned $400 million to shareholders via dividends and buybacks, with plans to increase distributions as cash flow rises.

• Free cash flow is projected to exceed $1 billion in 2027, with EBITDA nearing $2.6 billion and a current EV/EBITDA multiple below sector averages.

• Guidance and capital allocation plans, including a capital markets day, are scheduled for early next year.

Exploration, technology, and sustainability

• Committed $90 million to exploration in 2026, targeting further mine life extensions and resource growth, especially at Tesla and Olympias.

• Embraced automation, teleoperation, and AI-driven safety measures, with successful implementation at Skouries and other sites.

• Sustainability initiatives include battery electric trucks, filtered tailings at four sites, and investments in clean grid and solar power.

• District-scale exploration potential exists across the portfolio, with significant drilling results at Lamaque and Olympias.