Endeavour Mining (EDV) Company presentation summary

Lafigué project overview

• Fifth West African project built in under ten years, discovered in 2017 with a $31m investment and a discovery cost of $12/oz.

• Construction began Q4-2022, first gold poured ahead of schedule in Q2-2024, commercial production achieved August 2024.

• 2022 DFS outlines a 12.8-year LOM, average annual production of 203koz at $871/oz AISC.

• Ownership: 80% EDV, 10% Côte d'Ivoire, 10% SODEMI; open pit, contractor mining, 4.0Mtpa processing rate.

• As of Dec 2023: 2.7Moz P&P reserves, 3.0Moz M&I resources.

Construction and ramp-up

• Project delivered ahead of schedule and under budget, with construction completed in less than 24 months.

• CIL plant construction started Q4-2022, first gold achieved June 2024, commercial production in August, nameplate capacity reached in four months.

• Ramp-up from wet commissioning to first gold in ~1 month, and to commercial production in another month.

• Q3-2024 exit rate at 100% nameplate, with 2.21g/t feed and 93% recoveries.

Mining and processing operations

• Open-pit, shovel and truck operation, mining contracted to Mota-Engil, with a 55Mtpa installed capacity.

• Mining in 15m benches for waste, 10m for ore, with selectivity to reduce dilution.

• 4.0Mtpa CIL plant, with HPGR and ball mill, gravity circuit recovers 55-70% of gold, CIL circuit for the remainder.

• Plant ramped up to nameplate in Q3-2024, expected to exceed design capacity, especially with oxide ore in early years.

• Tailings storage facility (TSF) with 4.5Mt current capacity, expanding to 12.1Mt by mid-2025, ultimate design 41Mt, expandable to 80.1Mt.