Endeavour Mining (EDV) Corporate presentation summary

Strategic positioning and portfolio overview

• Largest gold producer in West Africa with five operating mines and a robust pipeline of development and exploration projects across Senegal, Côte d'Ivoire, Burkina Faso, and Mali.

• Maintains a low-cost production profile, with FY-2024 production guidance of 1,130–1,270koz at an AISC of $955–1,035/oz, though actual AISC is expected above guidance due to higher royalties and operational challenges.

• Active portfolio management focuses on long-life, high-margin assets, divesting non-core operations, and continuous optimization.

• Strong track record of delivering projects on time and on budget, with recent commercial production at Lafigué and Sabodala-Massawa BIOX® expansion.

• Strategic exploration presence in underexplored greenstone belts, targeting significant resource growth.

Financial performance and outlook

• Q3-2024 gold production reached 270koz, up 8% from Q2, with gold sales at 280koz and a realized gold price of $2,342/oz.

• Group AISC for YTD-2024 was $1,256/oz, above guidance due to higher royalty costs and operational issues, but improvements are expected in Q4.

• Free cash flow increased to $97m in Q3-2024, with a positive inflection expected to continue as growth projects ramp up.

• Net debt reduced to $834m (0.77x LTM adjusted EBITDA) as of September 2024, reflecting strong cash generation and deleveraging focus.

• New shareholder returns policy sets a minimum dividend of $210m for FY-2024 and $225m for FY-2025, with supplemental returns if gold prices remain high.

Operational excellence and project updates

• Industry-leading safety performance with a LTIFR of 0.11, well below the industry average.

• Commercial production achieved at both Lafigué and Sabodala-Massawa BIOX® in Q3-2024, with ramp-ups proceeding on schedule.

• Sabodala-Massawa expected to be below production guidance for 2024 due to lower grades and recoveries, but Q4 performance is set to improve with higher-grade ore.

• Lafigué mine ramped up to nameplate capacity, on track to meet 2024 guidance with low AISC.

• Ongoing capital projects include a 37MWp solar power plant at Sabodala-Massawa, targeting a 30% CO₂ reduction and lower power costs.