Equinox Gold (EQX) Investor presentation summary

Strategic positioning and growth

• Merger with Orla Mining in July 2026 increased annual gold production to over 1.1 Moz, with a path to 1.9 Moz through organic growth in North America.

• Portfolio includes 6 operating mines and 4 growth projects across 4 countries, with 75% of NAV and 70% of production in Canada and the USA.

• Over 60% of 2026 gold production is expected from Canada, with Valentine Phase 2 expansion underway to double throughput.

• Near-term free cash flow growth is anticipated from expanded Canadian production and portfolio.

• Long-life assets average a 13-year mine life, supporting strong shareholder returns through dividends and buybacks.

Financial and operational guidance

• 2026 consolidated gold production guidance is 870,000–920,000 oz, with cash costs of $1,600–$1,700/oz and AISC of $1,900–$2,000/oz.

• Growth capital for 2026 includes $70–$80M for South Railroad, $50–$60M for Valentine Phase 2, and $35–$40M for Los Filos restart.

• Cash balance at July 31, 2026, is approximately $729M, with debt of $515M and available liquidity of $1.2B.

• Market capitalization as of August 10, 2026, is about C$18.9B (US$13.5B), with 1,167.5M common shares outstanding.

Asset highlights and expansion potential

• Three cornerstone Canadian assets: Greenstone (~320,000 oz/year), Musselwhite (~235,000 oz/year), and Valentine (~223,000 oz/year post-expansion).

• US assets include South Carlin Complex, Castle Mountain, and Mesquite, targeting growth from ~75,000 oz to over 400,000 oz/year.

• Mexico assets Camino Rojo and Los Filos aim to grow from ~115,000 oz to nearly 495,000 oz/year, with Los Filos restart underway.

• Nicaragua operations provide consistent cash flow, reserve replacement, and exploration-driven growth.