Endeavour Mining (EDV) Corporate presentation summary

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 Senegal, Côte d'Ivoire, Burkina Faso, and Mali, focusing on large, low-cost, long-life assets with high margins.

• Targets 1.5Moz annual gold production by 2030, with over 10 years of production visibility and a disciplined capital allocation approach aiming for +20% ROCE.

• Active portfolio management includes divesting non-core assets and expanding into new jurisdictions through strategic partnerships.

• ESG performance is integrated into operations, with strong ratings and alignment to global standards.

Financial performance and outlook

• Achieved H1-2026 production of 564koz at an AISC of $1,871/oz, on track to meet full-year guidance of 1,090–1,265koz at $1,600–1,800/oz AISC.

• Q2-2026 adjusted EBITDA was $732m with a 60% margin, despite a 10% drop in realised gold price to $4,348/oz.

• Record free cash flow in H1-2026, with $149m generated in Q2-2026 and a net cash position of $254m as of June 30, 2026.

• Tax payments increased significantly in H1-2026 due to higher taxable income, with full-year tax guidance of $660–770m.

• Maintains a healthy balance sheet, having repaid its revolving credit facility post-quarter, and holds sector-leading credit ratings.

Operational excellence and project pipeline

• Consistently meets or exceeds production guidance, with an 11% gold production CAGR over 12 years.

• Major projects advancing: Assafou (Côte d'Ivoire) targeting FID by end-2026, Sabodala-Massawa (Senegal) underground expansion underway, and Lafigué (Côte d'Ivoire) ramped up ahead of schedule.

• Exploration pipeline targets 12–15Moz new resources by 2030, with $540m budgeted for 2026–2030 and a focus on both brownfield and greenfield discoveries.

• Strategic investments in new ventures in Kazakhstan and Guyana to diversify and expand the organic growth pipeline.

• Strong construction track record, delivering projects on or ahead of schedule and below budget.