Eldorado Gold Corporation · TSX:ELD

Eldorado Gold — Investor Presentation (September 2014)

28 slides from Eldorado Gold's investor presentation, September 2014

  1. Slide 1: Consistency: Growing through low cost operations

    Consistency Growing through low cost operations September 2014 Efemçukuru Gold Mine, Turkey

  2. Slide 2: Forward Looking Statement

    Forward Looking Statement Certain of the statements made in this Presentation may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward- looking information within the meaning of applicable Canadian securities law. The

  3. Slide 3: Keeping it Consistent

    Keeping it Consistent Running a strong business A global company Strong financial performance  Operations & projects in 5 countries  Cash at June 30, 2014: $584.5M  Exceptional exploration potential  H1 Revenues: $545.4M  Over 7,000 employees and  Available & undrawn credit facilities: contrac

  4. Slide 4: Our Assets

    Our Assets Well balanced global portfolio www.eldoradogold.com 4

  5. Slide 5: Strong Operations

    Strong Operations Turkey China Greece Brazil Kisladag Jinfeng Stratoni Vila Nova Efemcukuru Tanjianshan White Mountain

  6. Slide 6: H1 Operating Highlights

    H1 Operating Highlights Consistent production at low costs H1 2013 H1 2014 FY 2014F 790,000 504 397,074 347,739 495 492 Gold Production (oz) Operating Cash Costs ($/oz) Operating Results H1 2013 H1 2014 FY 2014F Gold produced (oz) (1) 347,739 397,074 790,000 Gold sold (oz) 365,606 381,249 - All-in s

  7. Slide 7: Strong Operations: Turkey

    Strong Operations: Turkey Kisladag & Efemcukuru H1 2014 Kisladag Efemcukuru Gold Production 144,055 oz 52,003 oz Total cash cost $470/oz Au $561/oz Au Average grade 0.90 g/t Au 8.27 g/t Au Mine type Open pit Underground *Based on current 2P reserves www.eldoradogold.com 7

  8. Slide 8: Strong Operations: Turkey - Expanding Kisladag

    Strong Operations: Turkey Expanding Kisladag  Phase IV expansion includes:  20 Mt per annum of crushed ore to the leach pad at additional capital cost of $90M  Installation of new primary gyratory crusher and 48” overland conveyor  Expanding ADR capacity  No significant change to mine fleet  T

  9. Slide 9: Strong Operations: China

    Strong Operations: China Consistently delivering value H1 2014 Jinfeng Tanjianshan White Mountain Gold production 86,863 oz 54,169 oz 47,473 oz Total cash cost $664/oz $581/oz $636/oz Average grade 4.08 g/t 3.37 g/t 3.84 g/t Mine type Open pit and underground Open pit Underground www.eldoradogold.co

  10. Slide 10: Base Metal Operations: Brazil and Greece

    Base Metal Operations: Brazil and Greece Additional credits to our portfolio www.eldoradogold.com 10

  11. Slide 11: Industry Leading Growth

    Industry Leading Growth Greece Romania China Halkidiki District Certej Eastern Dragon (Skouries, Olympias)

  12. Slide 12: Industry Leading Growth: Greece

    Industry Leading Growth: Greece Growing the Halkidiki Mining District www.eldoradogold.com 12

  13. Slide 13: Greece: Construction Advancing at Skouries

    Greece: Construction Advancing at Skouries Q2 Highlights  Site clearing and earthwork advanced in main process area  SAG mill foundation completed  Mill equipment being pre-assembled  Site batch plant construction began and completion expected during Q3  Production expected late 2016 Skouries E

  14. Slide 14: Greece: Continuing Progress at Olympias

    Greece: Continuing Progress at Olympias Phased development Phase I Phase II Phase III (2012-2015) (2016-2019) (2020 on) • Refurbish plant & re- • Underground production • Underground expansion process 2.4 Mt of old to existing plant • New mill in Stratoni valley tailings • 450,000 tpa at 8.9 g/t • P

  15. Slide 15: Romania and China: Moving Forward

    Romania and China: Moving Forward Quality assets Certej Highlights Eastern Dragon Timeline  Trade-off studies to refine design options and  Q3 2014 – Submission of revised EIA costing underway  Metallurgical testwork continued during Q2 to  Q1 2015 – Receipt of the Project Permit provide data fo

  16. Slide 16: Solid Financial Performance

    Solid Financial Performance Q2 Financial Highlights Leading Balance Sheet Q2 Financial Position Low AISC & Cash Costs

  17. Slide 17: H1 Financial Highlights

    H1 Financial Highlights Solid financial performance 605 H1 2013 H1 2014 545.4 281 196.2 131.5 73.2 Revenues Gross Profit from Gold Adjusted Net Earnings Financial Results ($ millions except where noted) H1 2013 H1 2014 Revenues from all metals 605.0 545.4 Gross profit from gold mining operations (1)

  18. Slide 18: Industry Leading Balance Sheet

    Industry Leading Balance Sheet Significant cash, liquidity and financial flexibility Net Cash to Market Cap 2014E Liquidity: ~$960 million 0% -10% Net cash to market cap – 2014F (%) $375 -20% $585 -30% -40% Cash & Term Deposits Undrawn Credit Facility -50% KGC AEM AUY BTO ABX IAG** NGD GG* NEM EGO S

  19. Slide 19: 2014E All-In Sustaining Cash Costs

    2014E All-In Sustaining Cash Costs Lowest among peer group  Eldorado’s FY 2014F AISC: $850/oz* Sustaining Other G&A Exploration Operating 1,200 1,000 800 $/oz 600 400 200 0 IMG ABX BTO NEM KGC AUY NGD GG AEM ELD Source: TD Securities *Includes total cash costs, sustaining capital expenditure, corpo

  20. Slide 20: 2014 Guidance

    2014 Guidance Prudent capital allocation Sustaining Capital (1) Development Capital (1) Exploration Spending (2) $170M $265M $45M 22% KIS 41% OLY 12% SKO 18% EFM 62% 12% 9% 30% JF PH TJS 13% 20% 7% 12% CTJ 14% WM 10% 15% Turkey China Greece TZ Romania Brazil Other 3% (1) Capital expenditure guidance

  21. Slide 21: Core Strengths

    Core Strengths Our Approach Strong Reputation Scorecard

  22. Slide 22: Our Approach

    Our Approach Operating with integrity Community Stakeholder Environment Health and Safety Projects Engagement  Medical  Governments  Operate to stringent  Occupational health  Educational  Communities standards programs  Infrastructure  Shareholders  Continuous  Ongoing training  Agricult

  23. Slide 23: Strong Reputation

    Strong Reputation Earned by consistently delivering to plan  Strong technical management  Understanding the jurisdictions in which we operate  Operating to the highest environmental and safety standards  Prudent financial management  Track record of value creation Kisladag gold mine, Turkey www

  24. Slide 24: 2014 Scorecard

    2014 Scorecard Focusing on delivery Corporate  Announce resources and reserves update  Q1  Closure of Glory Resources transaction  Q1  Meet production and cash cost guidance Ongoing (790Koz @ AISC $850/oz) Turkey  Receive approval of Kisladag supplementary Environmental Impact  Q2 Assessment

  25. Slide 25: Background Information

    Background Information White Mountain Gold Mine, China

  26. Slide 26: Proven Track Record

    Proven Track Record Increasing Reserves and Grade Significant Growth at Low Costs 45.0 1.70 40.0 1.60 35.0 1.50 Moz + 2P/1000 shares Over the past 5 years we have: 30.0 1.40 Grade (g/t) 25.0 1.30 20.0 1.20  Doubled production 15.0 1.10 10.0 1.00 5.0 0.90  Materially increased reserves 0.0 0.80 per

  27. Slide 27: Gold Resources and Reserves

    Gold Resources and Reserves At December 31, 2013 Total Proven and Probable Total Measured and Indicated Inferred Resources Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (x1000) (Au g/t) (x1000) (x1000) (Au g/t) (x1000) (x1000) (Au g/t) (x1000) Certej 46,984 1.63 2,458 111,115 1.35 4,81

  28. Slide 28: Thank You

    Thank You TSX: ELD NYSE: EGO Investor Relations: Krista Muhr, VP IR Total shares outstanding: 716.3M* 604 601 6701 kristam@eldoradogold.com www.eldoradogold.com *At Jun 30, 2014

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