Endeavour Mining (EDV) investor relations material

Strategic positioning and portfolio overview

• Holds a leading position in West Africa, the world’s largest and fastest-growing gold-producing region, with five cornerstone mines and a robust pipeline of development and exploration projects.

• Maintains a diversified portfolio across Burkina Faso, Côte d'Ivoire, Senegal, and Mali, focusing on large, low-cost, long-life assets with high margins.

• Targets over 1.5Moz annual gold production by 2030, with more than 10 years of production visibility and a disciplined capital allocation approach aiming for +20% ROCE.

• Largest landholder in the Birimian Greenstone Belt, with significant underexplored potential and a proprietary exploration methodology.

Financial performance and outlook

• Achieved record free cash flow of $1,156m in FY-2025, up 269% year-over-year, driven by strong gold prices and operational performance.

• Net debt reduced to $158m by year-end 2025, with leverage at 0.07x net debt/LTM adjusted EBITDA.

• FY-2026 production guidance set at 1,090–1,265koz at an AISC of $1,600–1,800/oz, assuming a $3,000/oz gold price.

• Sector-leading free cash flow yield and shareholder returns, with $435m returned to shareholders in FY-2025 and a robust returns program through 2028.

Operational excellence and project pipeline

• Consistently meets or exceeds production guidance, with a 12-year track record and an 11% gold production CAGR.

• Ongoing organic growth with a target of 1.5Moz annual production by 2030, supported by brownfield and greenfield exploration.

• Assafou project in Côte d'Ivoire advancing towards construction, with a 4.6Moz resource, low discovery cost, and expected first gold in H2-2028.

• Strong construction track record, delivering projects on or ahead of schedule and below budget.