Fortuna Mining (FVI) Investor presentation summary

Strategic positioning and growth

• Positioned for high-value growth with a strong balance sheet and $380M+ net cash at 2025 year-end.

• Returned $20M to shareholders via Q1 2026 share buybacks.

• Five mines built across West Africa and Latin America, with ongoing exploration in Argentina, Côte d'Ivoire, Mexico, Peru, and Senegal.

• 2026 mineral exploration budget set at $55M, targeting both brownfields and greenfields opportunities.

Production and operational performance

• Achieved 2025 production guidance with 317,001 GEO, including 239,915 oz gold, 1.18 Moz silver, 39.6 Mlbs lead, and 52.0 Mlbs zinc.

• Q1 2026 production reached 72,872 GEO, on track for annual guidance of 281,000–305,000 GEO.

• 2026E consolidated AISC forecasted at $1,830–$1,975 per GEO.

• Divestitures of San Jose and Yaramoko mines in 2025 led to a decrease in GEO production.

Financial highlights

• FY 2025 sales reached $947.1M, up 40% from FY 2024.

• Adjusted EBITDA for 2025 was $514M, with free cash flow from operations at $330M.

• Adjusted attributable net income for 2025 totaled $203.1M.

• Net cash position at 2025 year-end was $382M, with liquidity of $704M.