Mineros Sa · BVC:MINEROS
Mineros Sa — Q2 2026 Earnings Presentation
19 slides from Mineros Sa's earnings presentation, Aug 6, 2026
Slide 1: Delivering on profitable growth
TS X : M S A · B V C : M I N E R O S · O TC Q X : M N S AF Q2 2026 Earnings Results · August 6, 2026 Delivering on profitable growth Growth-oriented, mid-tier gold producer. Daniel Henao, CEO Natalia Correa, CFO Ann Wilkinson, VP IR
Slide 2: Cautionary notes & forward-looking information
TSX :MSA BVC: MINEROS OTCQX :MNSAF DISCLOSURE Cautionary notes & forward-looking information FORWARD-LOOKING INFORMATION NON-IFRS MEASURES TECHNICAL DISCLOSURE This presentation contains "forward-looking information" within the This presentation contains financial measures and ratios not calculated
Slide 3: Our four key drivers
Our four key drivers TSX :MSA BVC: MINEROS OTCQX :MNSAF Delivering on growth and strategic expansion: 01 · 02 · 03 · 04 · PERFORMANCE BALANCE SHEET GROWTH & SHAREHOLDER STRENGTH EXPLORATION RETURNS Record first half Backed by gold Pipeline advancing Returning capital 559M 229M Hemco expansion 18.1M
Slide 4: Performance
KEY DRIVER 01 Performance Outstanding revenues, margins and production results across both properties.
Slide 5: Q2 2026 highlights
Q2 2026 highlights TSX :MSA BVC: MINEROS OTCQX :MNSAF Strong performance funds a growing pipeline. AU E Q O Z S O L D REVENUE AD J U S T E D E B I T D A NET PROFIT 61,849 OZ 267 M 108 M 45 M +11% vs. Q2 2025 +46% vs. Q2 2025 +31% · 40% margin 0.15 EPS AV G . R E AL I Z E D G O L D P R I C E · Q 2 2
Slide 6: Record H1 2026 performance
Record H1 2026 performance TSX :MSA BVC: MINEROS OTCQX :MNSAF Stronger production and higher realized prices translated into record revenue, EBITDA and earnings. Gold sold Revenue Adjusted EBITDA Net profit koz AuEq · six months US$M · six months US$M · six months US$M · six months +12% YoY +63% YoY
Slide 7: Consistent sales
Consistent sales TSX :MSA BVC: MINEROS OTCQX :MNSAF Growing ounces with costs under control Q2 2026 gold-equivalent ounces sold Gold sold 59,639 Silver sold (AuEq) 2,210 Total AuEq oz 61,849 SILVER SOLD · Q2 2026 — RECORD 150,681oz avg US$62/oz 07 / 19
Slide 8: Revised 2026 guidance
Revised 2026 guidance TSX :MSA BVC: MINEROS OTCQX :MNSAF On track — a disciplined focus on quick-return ounces. C O N S O L I D AT E D G O L D P R O D U C T I O N C O N S O L I D AT E D AI S C 220–240k oz Au 2,370–2,470 US$/oz Revised up from 213–233k oz · +7k oz at both Q2 2026 actual $2,458 · on t
Slide 9: Operational excellence — H1 2026
Operational excellence — H1 2026 TSX :MSA BVC: MINEROS OTCQX :MNSAF Two producing platforms — and the partnership models behind them. Colombia · Nechí Nicaragua · Hemco COST EFFICIENCY · OWN VS PARTNER H1 2026 · AISC $/oz COST EFFICIENCY · OWN VS PARTNER H1 2026 · AISC $/oz OWN OPERATION CONTRACT PA
Slide 10: Balance sheet strength
KEY DRIVER 02 Balance sheet strength Net cash, deep liquidity and a treasury backed by physical gold.
Slide 11: Balance sheet strength
Balance sheet strength TSX :MSA BVC: MINEROS OTCQX :MNSAF A conservative balance sheet, deep liquidity and a treasury backed by physical gold. Cash and gold backed assets $229M Cash & equivalents Precious metals $41M $125M 29,309 AuOz Gold-backed receivables Credit loans $63M $56M 12,912 AuOz · 95,5
Slide 12: Growth & exploration
KEY DRIVER 03 Growth & exploration A funded pipeline and active drilling across the portfolio.
Slide 13: Exploration & drilling update
Exploration & drilling update TSX :MSA BVC: MINEROS OTCQX :MNSAF Reallocated toward near-mine targets to accelerate resource growth. Q2 2026 · 27,273 m in 52 holes at the Hemco Property — 36% of the 75,400 m planned · plus 2,088 m at Nechí D R I L L I N G B Y T A R G E T · H 1 & F U L L - Y E AR 2 0
Slide 14: Advancing the growth pipeline
Advancing the growth pipeline TSX :MSA BVC: MINEROS OTCQX :MNSAF Project status as of June 30, 2026 — Porvenir, La Pepa and Tolima. PORVENIR · NICARAGUA LA PEPA · CHILE TOLIMA · COLOMBIA Final stretch of permitting. Drilling permit secured. Integrating a new project. Pre-development Engineering and
Slide 15: Shareholder returns
KEY DRIVER 04 Shareholder returns Returning capital through an expanded buyback and consistent dividends.
Slide 16: Share performance & capital returns
Share performance & capital returns TSX :MSA BVC: MINEROS OTCQX :MNSAF Outperforming gold and peers while returning capital to shareholders. SHARE REPURCHASE Mineros has materially outperformed gold and its peer index. PROGRAM T W O - Y E AR T O T AL R E T U R N · J U L 2 0 2 4 – J U L 2 0 2 6 · I N
Slide 17: H1 2026 in summary
WRAP-UP H1 2026 in summary A strong half across our four key drivers.
Slide 18: H1 2026 in summary
H1 2026 in summary TSX :MSA BVC: MINEROS OTCQX :MNSAF A strong half across our four key drivers. 01 02 PERFORMANCE BALANCE SHEET STRENGTH The business is performing strongly — record first-half A net-cash balance sheet, strengthened by our new bullion revenue of $559M and Adjusted EBITDA of $260M, w
Slide 19: For further information.
THANK YOU · Q&A For further information. Ann Wilkinson Juan Obando investor.relations@mineros.com.co · relacion.inversionistas@mineros.com.co TSX: MSA - BVC: MINEROS OTCQX: MNSAF