Erdene Resource Development (ERD) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with quorum representing 44.58% of shares; six formal business items outlined, including director elections, auditor appointment, and Omnibus Equity Incentive Plan approval.

• Chair and secretary appointed; Computershare Investor Services named as scrutineer.

Financial performance review

• Financial statements for year ended December 31, 2025, and unqualified auditor's report received and made available to shareholders.

• Company achieved positive cash flow, with CAD 28 million in cash at corporate level and similar amount at subsidiary.

• Gross project revenues reached CAD 73 million by end of Q1, with gold recoveries averaging 96%.

• Market capitalization stands at over CAD 400 million, with increased institutional participation post-share consolidation.

Board and executive committee updates

• Five directors elected: Dr. Anna Biolik, Layton Croft, Ken MacDonald, Cameron McRae, and Peter Akerley.

• Board and executive team highlighted for deep Mongolia experience and long-term collaboration.

• Key executives and technical team recognized for contributions to exploration and operations.