Dynacor Group (DNG) investor relations material

Executive summary

• Achieved record quarterly throughput of 48,300 tonnes (531 tpd) and produced 31,907 AuEq oz, among the highest historical levels.

• Sales reached $144.4 million, the second-highest quarterly sales, despite a sharp decline in gold prices and higher inventory levels.

• Initiated first ore feed at the Galam plant in Senegal, marking a key step in geographic diversification.

• Leadership transition completed with new CEO and Board Chair appointments.

Financial highlights

• Q2-2026 sales: $144.4 million (up from $79.7 million in Q2-2025); YTD sales: $298.5 million.

• Gross margin: $5.6 million (3.9% of sales), down from $7.1 million (9.0%) in Q2-2025 due to lower gold prices and higher inventory.

• EBITDA: $3.2 million, including $0.3 million in non-recurring expenses.

• Net income: $1.1 million for Q2-2026; YTD net income: $8.4 million.

• Cash gross operating margin: $206 per AuEq oz sold.

Outlook and guidance

• 2026 guidance: sales $530–$580 million, net income $22–$26 million, production 125,000–135,000 AuEq oz.

• YTD performance: $298.5 million sales, $8.4 million net income, 64,698 AuEq oz produced.

• Capital expenditure expected at lower end of $32.5–$39 million guidance, with some investments deferred to 2027.

• First ore from Senegal and Ecuador plants included in 2026 production estimates.