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.

• Focused on premier mining jurisdictions in Latin America and West Africa, with three operating mines and a major development project in Senegal.

• 2026 exploration budget set at $55 million, targeting both brownfields and greenfields opportunities across multiple countries.

Production and operational performance

• Achieved 2025 gold equivalent output of 317,001 GEO, meeting guidance, with 2026 guidance of 281,000–305,000 GEO at an AISC of $1,830–$1,975 per GEO.

• Q4 2025 production was 65,130 GEO, impacted by temporary downtime at Lindero, which was resolved by year-end.

• Divestiture of non-core assets (San Jose and Yaramoko mines) streamlined the portfolio and contributed to a decrease in GEO production.

Financial highlights

• FY 2025 sales reached $947.1 million, up 40% from 2024, with adjusted EBITDA of $514 million and free cash flow from operations of $330 million.

• Q4 2025 sales were $270.2 million, with adjusted EBITDA of $157.2 million and adjusted attributable net income of $71.3 million.

• Maintained a strong liquidity position, ending 2025 with $704 million in liquidity and $231 million in net cash.