Seabridge Gold (SEA) investor relations material

Portfolio overview and strategy

• Four-asset portfolio includes KSM (advanced stage), Bronson Corridor, 3 Aces, and Snowstorm, with Courageous Lake recently spun out as Valor Gold.

• Focus on maximizing gold ounces per share, achieving 5x to 50x more gold per share than peers.

• Significant leverage to gold and copper prices, with 16,000% value growth since inception.

• Early-stage projects like Bronson Corridor and Snip North are being advanced for future value.

• Strong insider alignment and commitment to per-share metrics.

KSM project development and milestones

• KSM is the world's largest undeveloped gold and copper project, fully permitted and supported by local indigenous groups.

• 2022 pre-feasibility study outlines 47M oz gold, 7.3B lbs copper, 160M oz silver reserves, with a 33-year mine life and CAD 600/oz all-in sustaining cost.

• Only 20% of economic resource captured in initial plan; PEA adds 39 years, extending mine life to 72 years with copper-focused optionality.

• Over CAD 650M invested in infrastructure, including roads, hydropower, and water management.

• Joint venture discussions ongoing, with a partner announcement expected soon.

Regulatory and environmental progress

• Environmental approvals and construction permits secured; positive court rulings on project status.

• Recent court decision upheld project’s substantially started designation, with ongoing consultation with Tsetsaut Skii km Lax Ha.

• Treaty Creek Terminal completed, providing 245 MW green hydropower via partnership with indigenous nations.

• Fish habitat offsetting and permanent bridge installations completed for long-term operations.