Erdene Resource Development (ERD) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with quorum established, six formal items of business outlined, including verification of prior minutes, financial statement review, director elections, auditor appointment, Omnibus Equity Incentive Plan approval, and other business.

Financial performance review

• Financial statements for year ended December 31, 2025, and auditor's unqualified 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 just over CAD 400 million, with increased trading volume 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.