Endeavour Mining (EDV) investor relations material

Strategic positioning and portfolio overview

• Holds a leading position in West Africa, the world's largest and fastest-growing gold-producing region, with five cornerstone mines and a robust pipeline of development and exploration projects.

• Maintains a diversified portfolio across multiple countries, focusing on large, low-cost, long-life assets with a production target of 1.5Moz by 2030 and class-leading all-in sustaining costs (AISC).

• Active portfolio management includes divesting non-core assets, developing internal underground mining competencies, and continuous exploration to replenish resources.

• Largest land package in the Birimian Greenstone Belt, with significant underexplored potential and a strong competitive advantage in permitting, construction, and production timelines.

• Strategic investments and partnerships in early-stage exploration companies in Kazakhstan and Guyana to diversify and expand the organic growth pipeline.

Operational and financial performance

• Achieved H1-2026 production of 564koz, on track for full-year guidance of 1,090-1,265koz at AISC of $1,600-$1,800/oz, supported by strong Q4-2026 expectations.

• Record free cash flow in H1-2026, with $149m generated in Q2-2026, despite lower realised gold prices and higher cash taxes.

• Maintains a net cash position of $254m as of June 2026, with leverage well below the long-term target of 0.50x net debt/EBITDA.

• Sector-leading shareholder returns, with over $1.9bn returned since Q1-2021 and a minimum commitment of $1bn between FY-2026 and FY-2028, subject to gold price and leverage targets.

• Consistent track record of meeting or exceeding production guidance for 12 of the last 13 years, with an 11% gold production CAGR.

Exploration and growth pipeline

• Targeting 12-15Moz of new mineral resources between 2026-2030, with a focus on both brownfield and greenfield exploration.

• 22.4Moz of M&I resources discovered since 2016 at a discovery cost of less than $25/oz, more than double production depletion.

• Largest exploration presence in West Africa, with $540m planned exploration expenditure over 2026-2030 and $100m guidance for FY-2026.

• Assafou project in Côte d'Ivoire expected to become the next cornerstone asset, with a 16-year mine life, 4.4Moz reserves, and first gold targeted after a final investment decision in late 2026.

• Ongoing resource growth at Assafou and satellite targets, with significant high-grade drill results and a $10m exploration programme for FY-2026.