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 across Côte d'Ivoire, Burkina Faso, Senegal, and Mali.

• Maintains a diversified, high-quality asset base focused on large, low-cost, long-life mines, targeting over 1.5Moz annual production by 2030 and a +10-year production visibility.

• Active portfolio management includes divesting non-core assets, expanding underground mining competencies, and continuous optimization at both site and group levels.

• Strategic investments in early-stage exploration companies and joint ventures in Kazakhstan and Guyana further diversify the growth pipeline.

Financial performance and outlook

• Achieved record adjusted EBITDA of $880m and free cash flow of $613m in Q1-2026, driven by higher realised gold prices and operational excellence.

• Net cash position improved to $405m as of March 2026, reflecting rapid deleveraging and strong cash generation.

• FY-2026 production guidance is 1,090–1,265koz at an all-in sustaining cost (AISC) of $1,600–1,800/oz, assuming a $3,000/oz gold price.

• Capital expenditure guidance for 2026 is $500m, with $100m allocated to exploration.

• Tax payments are expected to rise to $660–770m in 2026 due to higher gold prices and increased withholding taxes.

Operational excellence and project pipeline

• Consistently meets or exceeds production guidance, with a 12-year track record and an 11% gold production CAGR since 2013.

• Major projects include the Assafou project in Côte d'Ivoire, targeting first gold by late 2026, with a DFS confirming a 16-year mine life and 320koz annual production at $1,026/oz AISC for the first 8 years.

• Ongoing optimisation at Sabodala-Massawa (Senegal) and Lafigué (Côte d'Ivoire) mines, with expansion and underground development underway.

• Exploration pipeline targets 12–15Moz new resources by 2030, with $540m planned exploration spend over 2026–2030.