Equinox Gold (EQX) investor relations material

Strategic integration and organizational focus

• Recent merger has created a stronger, more focused entity with clear shareholder value objectives.

• Alignment around fair compensation and a positive culture has fostered idea sharing and improved credibility.

• Share price appreciation reflects operational improvements and restored market confidence.

Greenstone mine performance and expansion

• Leadership changes and local presence have driven operational improvements at Greenstone.

• Mill performance has improved quarter-on-quarter, with consistent days above nameplate capacity.

• Investments include $100M for tailings dam upgrades and a $20M trommel to remove tramp material, supporting stable operations.

• Plant has demonstrated ability to exceed 27,000 tpd, with potential for 30,000+ tpd and future underground exploration.

• Exploration and organizational capability are being developed to unlock further regional potential.

Valentine project ramp-up and expansion

• Valentine achieved first production ahead of schedule, reaching 89% of nameplate in Q4 and 110% in February.

• Confident in achieving nameplate capacity before Q2 2026, despite winter challenges.

• Phase two expansion aims to increase capacity to 4.8–4.9 million tonnes per year, with a technical report update expected soon.

• Exploration success and resource extensions support long-term robust production.