Wesdome Gold Mines (WDO) Corporate Presentation summary

Strategic positioning and value proposition

• Operates two of Canada's highest-grade gold mines with large, underexplored land packages in prolific greenstone belts, supporting significant organic growth potential.

• Maintains a debt-free balance sheet with $266M in cash and US$250M available credit, enabling financial flexibility and resilience.

• Delivers robust free cash flow, achieving a 29% margin, outperforming peers and aligning with large-cap benchmarks.

• Focuses on a 'Fill-the-Mill' strategy, leveraging global modeling, strategic exploration, and cost optimization to drive production and margin expansion.

• Returns capital to shareholders through a share buyback program.

Operational and financial performance

• 2025 production guidance is 177,000–193,000 ounces at consolidated AISC of US$1,450–$1,575/oz, with head grades of 12.0–13.0 g/t.

• YTD 2025 revenue reached $626M, net income $232M, and free cash flow $179M, with cash margin of $445M.

• Maintains high operating margins, with 2025E free cash flow per ounce at $1,342 and a free cash flow yield of 8.9%.

• Eagle River and Kiena mines produced 138,938 oz YTD 2025, with strong recovery rates (Eagle River: 96.8%, Kiena: 98.8%).

• Sustaining and growth capital investments for 2025 are projected at $120M and $70M, respectively.

Asset base and exploration pipeline

• Eagle River (Ontario) and Kiena (Québec) mines have combined proven and probable reserves of 1.19Moz at 10.2 g/t Au as of Dec 31, 2024.

• Mineral resources (exclusive of reserves) total 386koz M&I and 640koz inferred, with significant upside from ongoing exploration.

• Aggressive 2025 exploration programs: 135,000m at Eagle River and 75,000m at Kiena, targeting both brownfield and greenfield opportunities.

• Multiple high-grade intercepts and new zones identified, supporting future resource growth and operational flexibility.

• Over 100 regional exploration targets identified at both sites, with a focus on leveraging existing infrastructure.