Montage Gold (MAU ) investor relations material

Portfolio growth and project development

• Expanded portfolio through partnerships, notably acquiring Didievi via the African Gold transaction and securing new permits in Côte d'Ivoire and Mauritania.

• Koné project advanced with over 650,000 meters drilled, increasing resources from 5 to over 8 million ounces at higher grades, with a new mine plan expected in Q1 next year.

• First gold pour at Koné achieved, with 42 kg produced and rapid ramp-up underway; full circuit completion targeted for Q2 next year.

• Didievi project resource doubled to 1 million ounces, with ongoing drilling and a fast-tracked development plan including environmental studies and DFS-level work.

• Wendé permit validated with new drilling, aiming for a maiden resource next year; Mauritania drilling to commence in Q4.

Operational improvements and strategic initiatives

• Plant enhancements and owner mining model implemented, enabling operational flexibility and integration of new high-grade deposits.

• Number of deposits at Koné increased from two to twelve, with potential to reach 10 million ounces; production forecasted at 350,000–400,000 ounces annually over 10 years.

• Strategic partnerships, including a 20% stake by the Lundin family and collaboration with Wheaton Precious Metals, supported rapid project development.

• Stream agreement with Wheaton covers 20% of initial production, stepping down after 400,000 ounces, aligning incentives for both parties.

• Over 90% of $607 million CapEx committed, minimizing risk of overruns; about $100 million remains to complete the build.

Forward-looking statements and catalysts

• Resource updates for Koné and Didievi expected later this year and into next, with a new Koné mine plan in Q1 and full circuit completion in Q2.

• Commercial production at Koné anticipated soon, with ongoing ramp-up and grade improvements from integrating new deposits.

• Didievi and Wendé projects advancing rapidly, with resource updates and construction timelines as key upcoming milestones.

• Mauritania exploration to begin with a 15,000-meter drill program in Q4, expanding the regional footprint.

• Management aims to keep construction and exploration teams engaged for the next decade through ongoing asset development.