Endeavour Mining (EDV) investor relations material

Strategic positioning and operational overview

• Operations are focused in West Africa, with five active mines and annual production of about 1.1 million ounces of gold.

• The region offers rapid permitting and short lead times from discovery to production, enhancing asset value.

• Over the past decade, 22 million ounces of gold have been discovered at a low cost, supporting strong value creation.

• Five mines have been developed on time and on budget, generating significant cash flow for reinvestment and shareholder returns.

• The business model emphasizes both immediate and future returns for investors.

Financial performance and shareholder returns

• Free cash flow grew by over 60% in the last 12 months, with $761 million delivered in H1 2026.

• Leverage peaked during major capital projects but has since returned to a modest net cash position, targeting a leverage ratio around 0.5.

• On track to meet or exceed production guidance for the 12th time in 13 years.

• Since 2021, nearly $2 billion has been returned to shareholders, with a guaranteed $1 billion return planned for the next three years.

• Cumulative yield since 2021 is 37%, with a total shareholder return of 263%.

Growth strategy and project pipeline

• Portfolio has shifted toward longer-life, lower-cost assets through M&A and divestment of higher-cost mines.

• Geographic diversification has improved, with major growth expected from the Assafou project and Sabodala-Massawa Underground.

• Assafou is a $1 billion, 16-year life project with a 5 million ounce resource and low cash costs, designed for future expansion.

• Sabodala-Massawa Underground has commenced production, targeting high-grade feed for the CIL plant.

• Additional organic growth expected from projects like Vindaloo Deeps and the Kawsara deposit.