DPM Metals Inc. · TSX:DPM
DPM Metals — Q3 2026 Earnings Presentation
21 slides from DPM Metals's earnings presentation, Nov 13, 2026
Slide 1: Uniquely Positioned to Deliver Superior Value
TSX:DPM TSX: DPM ASX: DPM Uniquely Positioned to Deliver Superior Value Third Quarter 2026 Results November 13, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “guidance”, “outlook”
Slide 3: Non-GAAP Measures
Non-GAAP Measures Certain financial measures referred to in this presentation are not measures recognized under IFRS and are referred to as Non-GAAP financial measures or ratios. These measures have no standardized meanings under IFRS and may not be comparable to similar measures presented by other
Slide 4: Q3 2026 Highlights
Q3 2026 Highlights 4
Slide 5: Third Quarter Highlights
Third Quarter Highlights Performance demonstrates strengths that underpin growth strategy ☑ Operational Delivery ☑ Generating Strong Margins • On track to meet 2026 GEO5 production • Q3 all-in sustaining cost1,5 per GEO sold: guidance4 for the 12th consecutive year $1,580/oz. (includes $270/oz. mark
Slide 6: Vareš Ramping up to Full Production in 2026
Vareš Ramping up to Full Production in 2026 On track to achieve ramp-up to 850,000 tonne per year run-rate by year-end 2026 a transitional year for Vareš 2026 Guidance4 • Achieved commercial production in August GEO Produced5 AISC1,5 • Second tailings filter expected to commission in K $ per GEO sol
Slide 7: Chelopech: Near-Term Growth Underpinned by Consistent Delivery
Chelopech: Near-Term Growth Underpinned by Consistent Delivery On-track to meet 2026 guidance YTD Q3 YTD Q3 Q3 2026 Q3 2025 2026 Guidance4 2026 2025 Ore processed Kt 530 557 1,586 1,631 2,100 - 2,200 Head grades: Gold g/t 2.87 3.02 2.86 2.99 Silver g/t 6.29 7.15 12.7 6.71 Copper % 0.56 0.77 0.70 0.6
Slide 8: Wedge Zone (Block 250): High Quality, Near-Term Growth
Wedge Zone (Block 250): High Quality, Near-Term Growth Located in Chelopech mine concession approximately 250 m below existing Mineral Reserves • Potential to augment Chelopech life of mine plan and for near-term higher grade mill feed by end of 2028 • Drilling in H1 2026 continues to extend mineral
Slide 9: Brevene Porphyry South
Brevene Porphyry South Major discovery of high-grade gold-copper porphyry system adjacent to Chelopech mine • Results demonstrating grade, scale and continuity • EX_BRES_555_02A: 717 m at 3.30 g/t AuEq, including 139 m at 5.71 g/t AuEq • EX_BRESPO_03: 1,054 m at 2.49 g/t, including 465 m at 3.02 g/t
Slide 10: Čoka Rakita Project: High-Margin Production Growth
Čoka Rakita Project: High-Margin Production Growth Swift advancement to date underpinned by +20 years of in-country experience • From discovery in 2023 to feasibility in 2025 Project Highlights6 • Following October 2026 elections, administrative and regulatory decision High-margin making timelines m
Slide 11: Dumitru Potok: Large Inferred Mineral Resource
Dumitru Potok: Large Inferred Mineral Resource Demonstrating Rakita camp’s potential for district-scale gold-copper systems • From discovery to Mineral Resource in 18 months • Resource expansion as all three deposits remain open in multiple directions • Significant, new 2026 intercepts from Dumitru
Slide 12: Ada Tepe: Responsible Mine Closure
Ada Tepe: Responsible Mine Closure Restoring and returning 95% of the mine's footprint to the Natura 2000 protected area From Operations to Rehabilitation • Mining completed as planned in July 2026; rehabilitation well underway • Technical rehabilitation of Integrated Mine Waste Facility (IMWF) targ
Slide 13: Growing Precious Metals Producer
Growing Precious Metals Producer Demonstrated consistency and quality operations underpins business outlook and resiliency September 21, 2016 – September 21, 2026 Source: FactSet. Market data as of September 21, 2026. Peer index represents an equal-weighted index of OceanaGold, Centerra Gold, IAMGOL
Slide 14: Financial Results Highlights
Financial Results Highlights 1414
Slide 15: Financial Results Highlights
Financial Results Highlights Strong earnings and free cash flow YTD Q3 YTD Q3 $ millions except where noted Q3 2026 Q3 2025 % change 2026 2025 % change Strong free cash flow2 Revenue 311.6 267.4 17% 983.5 598.0 64% $179.5 million Adjusted net earnings3 144.2 129.2 12% 523.2 272.2 92% Per share ($/sh
Slide 16: Key Cost Metrics and Capital Expenditures
Key Cost Metrics and Capital Expenditures All-in sustaining cost1,5 Capital expenditures $ per GEO sold $ millions 8 All-in sustaining cost Average realized gold price Guidance range Sustaining Growth 195 - 210 203 $4,314 $4,534 87.7 $1,300 - $1,450 25.6 25 - 32 $1,580 $1,472 8.1 14.5 Q3 2026 YTD Q3
Slide 17: Updated 2026 Guidance
Updated 2026 Guidance Increasing exploration spending reflecting success year to date Over 80% of 2026E revenue from gold and silver 2026E Revenue by Metal 2% 5% 12% 15% 66% Gold Silver Copper Zinc Lead Based on the metal price assumptions used for DPM’s guidance, and the mid-point of guidance for p
Slide 18: Financial Strength to Fund Growth
Financial Strength to Fund Growth Growing cash position with no debt and a track record of shareholder returns Financial Position Shareholder Returns $ millions Free cash flow Capital returned (dividends paid and payments for shares repurchased) $400M $610 Total liquidity $505 $1.2B $839M $305 $252
Slide 19: Growing European Precious Metals Producer
Growing European Precious Metals Producer Consistent, quality operations in Europe delivering peer-leading growth and margins for high returns Hungary Proven operator and production growth Achieved production guidance for 11-years Croatia Romania Bosnia and Serbia Herzegovina Tier 1 geological poten
Slide 20: Footnotes
Footnotes 1 Cost of sales per GEO sold represents cost of sales for Chelopech, Ada Tepe and Vareš, divided by GEO sold. All-in sustaining cost per GEO sold, is a non-GAAP ratio which represents cost of sales less depreciation, amortization and other non-cash items plus treatment charges, penalties,
Slide 21: Corporate Head Office / Investor Relations
Corporate Head Office 150 King Street West, Suite 902 Toronto, Ontario M5H 1J9 T: 416 365-5191 Investor Relations jcameron@dpmmetals.com T: 416 219-6177 www.dpmmetals.com