Fortuna Mining (FVI) Investor Presentation summary

Strategic positioning and growth

• Positioned to capture high-value growth opportunities with a prudent capital allocation strategy and a strong balance sheet.

• Focus on premier mining jurisdictions with three operating mines and exploration in Argentina, Côte d'Ivoire, Mexico, Peru, and Senegal.

• Diamba Sud Gold Project in Senegal advancing toward a construction decision in H1 2026, with a robust PEA completed in October 2025.

• Proven mine development and operational expertise in core regions.

• Significant reserves and resources: 2.7 Moz GEO reserves and 2.3 Moz inferred resources.

Financial and operational performance

• Q3 2025 sales reached $251.4M, with adjusted EBITDA of $130.8M and free cash flow from operations of $73.4M.

• Nine-month 2025 sales totaled $676.8M, up 40% year-over-year, with adjusted EBITDA of $356.6M and adjusted attributable net income of $131.7M.

• Q3 2025 gold equivalent production was 72,462 oz; nine-month 2025 production was 214,077 oz.

• Realized gold prices increased to $3,467/oz in Q3 2025, supporting strong cash generation.

• Maintained a fortress balance sheet with $214.8M net cash and $537.3M liquidity as of Q3 2025.

Asset portfolio and production guidance

• 2025 consolidated production guidance: 309–339 koz GEO at AISC of $1,670–$1,765/GEO.

• Séguéla Mine (Côte d'Ivoire): 2025E production of 134–147 koz Au at AISC $1,500–$1,600/oz; expansion to 160–180 koz Au in 2026.

• Lindero Mine (Argentina): 2025E production of 93–105 koz Au at AISC $1,600–$1,770/oz.

• Caylloma Mine (Peru): 2025E production of 0.9–1.0 Moz Ag, 29–32 Mlbs Pb, 45–49 Mlbs Zn at AISC $21.7–$24.7/oz Ag Eq.

• 2025 exploration budget of $41M, split between brownfields and greenfields projects.