Aura Minerals (AUGO) investor relations material

Executive summary

• Achieved record quarterly production of 82,137 gold equivalent ounces, driven by MSG acquisition, Borborema ramp-up, and Almas expansion.

• Quarterly revenue reached $383 million, up 19% sequentially and 136% year-over-year, supported by higher gold and copper prices and increased sales volumes.

• Adjusted EBITDA hit a record $244 million, marking a sixth consecutive record quarter, with a margin of 64%.

• Net income was $95.2 million, with adjusted net income at $190 million, reflecting improved operational results and lower mark-to-market hedge losses.

• Mineral reserves increased to 7.2 million GEO, up 110% year-over-year, mainly from MSG inclusion and Borborema updates.

Financial highlights

• All-in Sustaining Cash Costs (AISC) rose to $1,829/oz, mainly due to MSG integration; excluding MSG, AISC would be near $1,500/oz.

• Recurring free cash flow reached $95 million, up 109% sequentially and 253% year-over-year, even after $33 million hedge payments and $42 million working capital consumption.

• Distributed $65 million in dividends ($0.76–$0.78/share), with a 12-month dividend yield of 4.6%.

• Paid down $20 million in gross debt and ended the quarter with $267.8 million in cash.

• Gross profit was $228.8 million, up 13% sequentially and 192% year-over-year; gross margin at 60%.

Outlook and guidance

• Full-year production guidance set at 340,000–390,000 ounces, with higher output expected in the second half.

• MSG production expected to improve in Q3/Q4 after underground development; AISC for MSG to remain near $2,000/oz in 2026.

• Consolidated 2026 AISC expected within $1,720–$1,865/oz, with reductions anticipated in H2 as production increases.

• Expansion plans for Borborema and Almas underway, targeting increased capacity and production.

• Era Dorada construction started, with production expected in 2028 and $382 million CAPEX.