Mako Mining (MKO) investor relations material

Executive summary

• Achieved record Q2 2026 revenue of $62.6 million, driven by strong gold sales and high realized gold prices.

• Net income reached $13.9 million, translating to $0.16 per share, with adjusted EBITDA of $31.7 million.

• Sold 14,610 ounces of gold at an average realized price of $4,201 per ounce, with consolidated AISC of $2,286/oz.

• Maintained a robust liquidity position with $112.9 million in cash, trade receivables, and marketable securities.

Financial highlights

• Revenue increased to $62.6 million, up from $38.7 million in Q2 2025, driven by higher gold sales and prices.

• Adjusted EBITDA rose to $31.7 million from $21.3 million year-over-year.

• Mine operating cash flow for the quarter was $25.9 million, with trailing twelve months Mine OCF at $105 million.

• Cash cost per ounce sold was $1,996, with an all-in sustaining cost (AISC) of $2,286 per ounce.

• Return on equity (ROE) was 36.6% and return on assets (ROA) was 23.8%.

Outlook and guidance

• Sufficient liquidity and operating cash flow to fully fund two remaining development projects without external capital.

• Plans to unveil strategies for lowering cost of capital and potential shareholder capital returns in the coming weeks.

• Eagle Mountain and Mt. Hamilton projects expected to boost profitability over the next few years.

• Focus on accelerating accretive growth trajectory and fully funding development projects from internal resources.