Aura Minerals Inc. · NASDAQ:AUGO

Aura Minerals — Investor Presentation (March 2026)

49 slides from Aura Minerals's investor presentation, Mar 10, 2026

1. Slide 1: Diversified, Growing Gold and Copper Producer

   DIVERSIFIED, GROWING GOLD AND COPPER PRODUCER NASDAQ: AUGO | B3: AURA33 March 2026 www.auraminerals.com

2. Slide 2: Cautionary Statements

   NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Cautionary Statements 2 This presentation relating to Aura Minerals Inc. (the "Company") has been prepared solely for informational purposes and is to be maintained in strict confidence. You may not disclose any information contained herein to any other

3. Slide 3: Driven by Purpose and Performance

   DRIVEN BY PURPOSE AND PERFORMANCE Well - run diversified gold and copper portfolio with a well - balanced mix of operating and development assets 6 operating mines, 2 in development and 1 exploration project. Proven track record of value creation through several sources More than US$587 million of c

4. Slide 4: Aura At-a-Glance

   Backed by a strong balance sheet with low leverage, broad network of banking relationships, and increasing free cash flow to support sustainable growth A gold and copper mining company with a business building culture and focused on project development in the Americas Structured to grow by developin

5. Slide 5: Business-Building Culture, High Quality Assets, Strong Balance Sheet

   Business - Building Culture High Quality Assets and Projects Generating value with high - quality assets and further development of advanced - stage projects Strong Balance Sheet Low leverage (0.28x (1) ), broad network of banking relationships, and increasing free cash flow to support sustainable g

6. Slide 6: Share Price Performance Underpinned by a Resilient Business Strategy

   NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 0 10 20 30 40 50 60 80 70 jan - 16 jan - 17 jan - 18 jan - 19 jan - 20 jan - 21 jan - 22 jan - 23 jan - 24 jan - 25 jan - 26 6 …we are now harvesting the results of these efforts, with much more growth and value creation to come. High Quality Assets and

7. Slide 7: Strong Results

   NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 122 236 267 280 2018 2023 2024 2025 Performance accelerated after Borborema’s commercial production and MSG Strong performance stemmed from robust production growth, stringent cost discipline, and elevated metal prices Production (‘000 GEO (1) ) Cash Cos

8. Slide 8: Focus on Cost Control Making AISC More Competitive

   Focus on Cost Control and New Projects is Making AISC More Competitive Amid Rising Gold Prices All - in Sustaining Cost Global Curve 1 Q2 2025 (US$/GEO) 1) Sources: Metal Focus - Gold Mine Cost database – Q2 2025 edition; 2) Each company’s websites, as reported. First Quartile Second Quartile Third

9. Slide 9: Production, Costs and AISC Met or Exceeded Annual Guidance 2025

   NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Production, CC and AISC met or exceeded our Annual Guidance 2025 9 1. Gold equivalent ounces, or GEO, is calculated by converting the production of silver and copper into gold using a ratio between the prices of these metals and gold. The prices used to

10. Slide 10: Annual Guidance 2026

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Annual Guidance 2026 10 1. Gold equivalent ounces, or GEO, is calculated by converting the production of silver and copper into gold using a ratio between the prices of these metals and gold. The prices used to calculate it at such proportions are based

11. Slide 11: Growth in Production with High Return Projects

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Growth in production with execution of high return projects (1) x Almas IRR of 64%, at US$ 1,900 gold x Borborema IRR of 81%, at US$2,600 gold and 50% leverage x Matupá IRR of 36% at US$ 1,900 gold and 50% leverage Growth in discovered gold and copper (

12. Slide 12: Expansion on Going Operations

    EXPANSION ON GOING OPERATIONS Operational Improvements & Capacity Expansion Almas  Step 01: Expanding to 2.2 Mtpa (completed already)  Step 02: Studies to expanding to 3.0 Mtpa (conclusion Q1 2026, implementation Q4 2026) Borborema  Highway realignment to increase LOM by 2 MMoz  Studies to expan

13. Slide 13: Almas and Borborema Case Studies

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Almas Case Study Commercial production declared in Q3 2023 NPV (3) Construction CapEx Feasibility Study Gold Prices ($2,212/oz) (1) 452 M USD 76 M USD Ounces of gold mined 612k Borborema Project Commercial production declared in Q3 2025 Feasibility Study

14. Slide 14: Era Dorada Economical Assessment

    HONDURAS GUATEMALA Era Dorada Jutiapa Economical Assessment ~200km Minosa Copan  ~200km between Era Dorada and Minosa  ~160 km of road east - southeast of Guatemala City  The nearest town is Asunción Mita, with a population of approximately 20,000 inhabitants  Connected by the Pan - American Hig

15. Slide 15: MSG Acquisition: An Opportunity Guided by Aranzazu Turnaround

    MSG GO, Brasil P&P Reservas 1.08M Oz M&I Recursos 0,37M Oz Recursos e Reservas Processed/ground ore (Mt) 1.30 1.30 1.40 1.20 1.30 1.50 1.20 1.20 1.10 1.00 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Gold Production (‘000 oz) 132 132 133 130 123 114 83 88 86 80 2015 2016 2017 2018 2019 2020 202

16. Slide 16: Increasing Exploration Expenditures

    www.auraminerals.com 7 8 10 12 22 Ϯϭ Ϯϱ 26 2017 2018 2019 2020 2021   2024 Increasing Exploration Expenditures (in US$ million) 2024 : − Potential to increase +2M Oz in P&P after road relocation in Borborema − Pézão and Pé - Quente should expand Matupá significantly − Almas : Paiol showcasin

17. Slide 17: Increase in Market Multiple

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Increase in Market Multiple NASDAQ: AUGO | B3:AURA33 www.auraminerals.com ͙ /Ŷ  ĂĚĚŝƚŝŽŶ  ƚŽ  ƚŚĞ  ǀĂůƵĞ  ĚƌŝǀĞŶ  ďLJ  ƉƌŽĚƵĐƚŝŽŶ  ŐƌŽǁƚŚ  ĂŶĚ  ĞdžƉůŽƌĂƚŝŽŶ  ŝŶǀĞƐƚŵĞŶƚƐ͕ ƵƌĂ ͛ Ɛ  ǀĂůƵĂƚŝŽŶ  ŵƵůƚŝƉůĞ  ĐĂŶ  ďĞ  ĨƵƌƚŚĞƌ  ĞŶŚĂŶĐĞĚ  ƚŚƌŽƵŐŚ

18. Slide 18: Proven Track Record of Value Creation

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 1. Includes Exploration and Expansion Capex, plus Exploration Expenses and Acquisitions. 2. Proven & Probable. 3. All calculations are in accordance with Subpart 1300 of Regulation S - K, or “S - K 1300”. 4. Including Almas’ US$ 21 million royalties and

19. Slide 19: Aura Nasdaq Background and IPO Strategy

    ϯ͕ϴϯϵ 3,001 3,946 4,564 2,567 709 1,114 1,718 2,201 2,063 3,456 5,645 9,287 7,520 11,010 20,642 30,435 652 1,191 1,779 1,379 2,533 4,727 4,535 5,524 11,654 20,421 16,505 28,590 60,500 72,137 1,373 2,357 3,626 3,636 4,701 6,943 13,706 11,077 21,834 29,708 24,025 39,600 81,142 102,572 AURA33 ORA CN AU

20. Slide 20: Capital Structure and Investment Summary

    Unmatched Exploration Pipeline 563,558 ha LOM and resource expansion underway Robust Growth Outlook With actions taken for organic and inorganic growth. Certificates Responsible Gold Mining Principles and ESR (Empresa Socialmente Responsável) in Honduras and México Capital Structure US$ 83,92 Share

21. Slide 21: Appendix

    ds Appendix

22. Slide 22: Extremely Well-Built Culture

    Extremely Well - Built Culture 22 Institutional culture rooted in extreme accountability and performance discipline Sustained low leverage (<1.0x Adjusted EBITDA) over the years Shareholders interests are put first , no tolerance for empire building $314 M distributed in dividends and share buybacks

23. Slide 23: Assets Overview

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Assets Overview Diversified Portfolio of Gold and Copper Operating Assets Borborema Rio Grande do Norte Brazil Almas Tocantins Brazil Apoena Mato Grosso Brazil Minosa Copán Honduras Aranzazu Zacatecas México 12% 21% 13% 25% 27% 21 years 10 years 7 years

24. Slide 24: Maintaining Low Leverage to Extend Debt Maturity Profile

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 24 Maintaining Low Leverage to Extend Debt Maturity Profile Cash Position (US$ millions) and Financial Leverage Long Term vs. Short Term 286 100 132 120 60 Cash December 2025 < 1 year 2 - 3 years 4 - 5 years > 5 years 128 237 270 286 0.6x 0.6x 0.7x 0.28x

25. Slide 25: Supported by a Full Set of Technical Capabilities

    Supported by a Full Set of Technical Capabilities 25 Proven Exploration: from exploration to reserve certification, delivered with exceptional cost discipline M&A is a fundamental part of its growth strategy M&A Track - Record: from core to growth, accelerating scale through targeted acquisitions wi

26. Slide 26: High Performance Team and Complementary Board Skills

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 0.00 2024 Lost time injury frequency rate 65% of employees are from nearby communities 0.00 2025 Lost time injury frequency rate 100% Internal promotions for directors Shaping a better world , both for the present and the future Seasoned Management Team

27. Slide 27: Aranzazu, Zacatecas, Mexico

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 31 76 78 79 91 141 88 151 164 177 197 2020 2021 2022 2023 2024 Adjusted EBITDA & Margin ($mm, %) 2025 Net Revenue & % of Total ($mm, %) 29% 36% 42% 42% 33% ▪ Underground copper, gold and silver mining operation with flotation circuit to produce copper co

28. Slide 28: Summary of Operational Results

    Summary of Operational Results Gold Copper P&P Reserves LoM Description Year - - Aranzazu was put in care - and maintenance due to higher costs and lower copper prices 2015 160kt Cu, 163koz Au, 2,675koz Ag 5.5 years Aura implemented material changes , reopened Aranzazu and attained commercial produc

29. Slide 29: Aranzazu Prospects and Additional Exploration Initiatives

    Prospects and additional exploration initiatives PROJECT MOLYBDENUM: DECISION - MAKING AGILITY  The local technical team has identified the potential for generating value as a by - product.  Simplified feasibility study: 100% in 2024  Rapid construction of the treatment plant, with low decision -

30. Slide 30: Apoena, Mato Grosso, Brazil

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 58 45 49 27 39 72 2020 2021 2022 2023 2024 2025 ▪ Open - pit gold and silver (small quantities) mining operation. The complex consists of a processing plant fed by satellite mines ▪ Deposit varies in each satellite mine, from gold - rich quartz veins to

31. Slide 31: Challenges Overcome

    Challenges Overcome Since Q1 24, Aura has made efforts to address licensing restrictions and geological challenges in the Aguapeí gold belt Quarterly Production (‘000 GEO)  Operation adjusted to handle areas with lower grades, maintaining stability within the technical possibilities  Challenges wi

32. Slide 32: Apoena: Consistent Growth and Expansion Potential

    Exploration Apoena: Consistent Growth and Expansion Potential Ernesto Connection Ernesto Cantina Middle Trap Lower Trap Japonês Oeste Japonês Nosde Lavrinha Proven Longevity: Ernesto started in 2017 with just 3 years of LOM, and after 9 years of operation, it now boasts proven reserves through 2029

33. Slide 33: Minosa, La Union, Honduras

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 44 81 26 34 83 144 2020 2021 2022 2023 2024 2025 95 155 109 122 178 2025 2020 2021 2022 2023 2024 Adjusted EBITDA & Margin ($mm, %) 2025 Operational Highlights 2024 Mineral Resources and Reserves Historical Results Minosa La Union, Honduras Production (‘

34. Slide 34: Increase in Production

    Increase in Production Consistent results delivery driving the increase in production Quarterly Production (‘000 GEO)  Q 4 production totaled 18 k GEO, - 2 % QoQ and + 8 % YoY, mainly due to the impact of the rainy season . In 2025 , production was 72 k GEO, - 9 % vs 2024 mainly due to lower ore fe

35. Slide 35: Minosa Exploration and Additional Potential

    35 Exploration and additional potential • Minosa's 2025 plans include up to 5,000m of drilling focused on deeper sulphide zones with higher grades • Geophysical studies and surface sampling in SA III and IV show potential to expand new areas • Assessing potential from old, low - grade stacks Minosa

36. Slide 36: Almas, Tocantins, Brazil

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 10 75 132 2023 2024 2025 34 129 2023 2024 2025 18 54 57 2023 2024 2025 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 2025 Operational Highlights 2024 Mineral Resources and Reserves Historical Results Almas Tocantins, Brazil Production (‘000 GEO) Cash Cos

37. Slide 37: Almas Project Development Case Study

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Almas Project Development Case Study Future: Potential Upsides: • Production Capacity Increase • Ongoing expansion • Expansion under study • Increase in the Life of Mine due to high geological potential of the region • Addition of +50k oz in 2P reserves

38. Slide 38: Increase in Production Driven by Operating Stability

    Increase in Production Driven by the operating stability and contribution of Almas Quarterly Production (‘000 GEO)  Ramp - up begun in June 2023, achieving great efficiency in getting up to speed in just 3 months of operation  Capacity expanded at the processing plant from 1.3 Mt/yr to 2.2 Mt/yr 

39. Slide 39: Potential Gains with Underground

    Potential gains with Underground  Increase in LOM;  Operational flexibility;  Exploitation of deep ore seams;  Reduction in environmental desolation;  Increased production profile through higher grades. Pit P2 Pit P3 Pit 2028 Level 290 Level 1 20 HG Grade Shell Concept study Phase 1 - Conceptua

40. Slide 40: Almas: Exploration and Strategic Growth

    Paiol: Recent drilling confirms potential for UG , with significant continuity beyond the current resource pit limit (250m). The Technical Report for UG is scheduled for completion in Q1 2026, paving the way for higher - value production expansion . Others : Located in a largely underexplored greens

41. Slide 41: Borborema, Rio Grande do Norte, Brazil

    TSX:ORA | B3:AURA33 | OTCQX:ORAAF www.auraminerals.com Borborema Rio Grande do Norte, Brazil  Potential for increased reserves and production  Project approved by DNIT  Resource and reserve update 2025 Operational Highlights Mineral Resources and Reserves Inferred 393 kGEO M&I 2.077 kGEO P&P 812

42. Slide 42: Borborema Capital Allocation Case Study

    Borborema Capital Allocation Case Study 42 Feasibility Study Gold Prices ($1,900/oz) Gold Price Simulation ($2,600/oz) Potential Upsides: • Moving the road, expected to increase 2P reserves up to + 2M oz • Increasing production capacity once the mine is in production and de - risked Ounces of gold m

43. Slide 43: Borborema Updated Feasibility Study Highlights

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Borborema 43 Highlights of the Updated Feasibility Study and the Project: • Life of Mine 20 Years and 5 months: Weighted average annual gold production is estimated at 65 koz, with an estimated LOM of 20.5 years, based on Mineral Reserves estimated in ac

44. Slide 44: Borborema: Unlocking Growth in the NE Corridor

    Exploration Borborema: Unlocking Growth in the NE Corridor Strong Expansion Potential : Recent surface mapping and geophysical surveys indicate significant continuity of mineralization to the Northeast, beyond the current pit limits. High - Confidence Opportunity: Geological and magnetic anomalies c

45. Slide 45: Matupá Development Highlights

    Development Highlights After 4 years First 4 years CIL processing open pit Low - capex and high - margin LOM: 7 years Mineral Resources and Reserves: P&P: 309k GEO M&I: 316k GEO Inferred: 1,950 GEO Production: 42 kGEO/year Cash Cost: 592 $/oz AISC: 762 $/oz Grade: 1.19 g/ton Strip Ratio: 1.73 Produc

46. Slide 46: Matupá: Positioned for LOM Expansion

    Pé Quente Target Nilva Nilva Norte Rubens Goiano Barba Exploration Matupá: Positioned for LOM Expansion Future Outlook : This exploration strategy positions Matupá to deliver significant LOM extension and value creation , reinforcing Aura’s commitment to sustainable, high - margin growth. Current Fo

47. Slide 47: Matupá Reserve Expansion

    Exploration Matupá Reserve Expansion: • Exploration efforts targeting areas within a 50 km radius of the planned X1 plant • Key Targets: X2, Serrinhas, Pé Quente, and Pezão – potential to double the current project reserves Pé Quente: • ~ 7 , 500 m of drilling completed in 2024 with results showing

48. Slide 48: Carajás (Serra da Estrela) Exploration

    Carajás (Serra da Estrela) 32 Exploration Carajás, Brazil History • Carajás Mineral Province is one of the most important polymetallic districts in the world and hosts several IOCG deposits such as Sossego and Salobo Mines (owned by Vale), Pedra Branca, Igarapé Bahia - Alemão, Cristalino, Gameleira

49. Slide 49: Contact: Investor Relations

    NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Contact : Investor Relations – Natasha Utescher natasha . utescher@auraminerals . com ri@auraminerals.com www.auraminerals.com NASDAQ: AUGO | B3: AURA33

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