Montage Gold (MAU ) investor relations material

Executive summary

• Koné project construction is ahead of schedule and on budget, with first gold pour targeted for Q4-2026 through the oxide circuit and hard-rock circuit completion expected in Q2-2027.

• Over 12.9 million hours worked and 3,600+ employees and contractors on-site, with 95% national employment.

• All major infrastructure for the oxide circuit is complete, dry commissioning has begun, and mining activities are ramping up.

• Robust exploration activities across Koné, Didievi, and Wendé, with over 224,000 meters of drilling planned for 2026.

Financial highlights

• $714.4 million of capital committed to Koné as of August 2026, representing 81% of the $885 million total capital expenditure.

• $623.8 million disbursed for Koné construction by June 30, 2026, with $161.2 million remaining to complete the oxide circuit.

• Consolidated cash balance of $154.4 million as of June 30, 2026, up from $79.4 million at March 31, 2026.

• Total liquidity and project funding sources of $309.0 million as of June 30, 2026.

• Q2-2026 cash flows used in investing activities totaled $128.0 million, up $17.7 million from Q1-2026.

Outlook and guidance

• First gold pour from the oxide circuit expected in Q4-2026; hard-rock circuit completion targeted for Q2-2027.

• Updated life of mine plan and year-end reserves/resources to be published in 2026.

• Exploration drilling programs to continue, with updated resource estimates expected for Koné, Didievi, and Wendé.