Slide 1: Uniquely Positioned to Deliver Superior Value
TSX:DPM TSX: DPM ASX: DPM Uniquely Positioned to Deliver Superior Value First Quarter 2026 Results May 6, 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: Q1 2026 Highlights
Q1 2026 Highlights
Slide 5: First Quarter Highlights
First Quarter Highlights Performance demonstrates strengths that underpin growth strategy ☑ Operational Track Record ☑ Strong Liquidity for Growth • On track to achieve 2026 guidance4 • $575 million in cash • Undrawn revolving $400 million credit facility ☑ Record Financial Results ☑ Advancing Growt
Slide 6: Vareš Ramping up to Full Production in 2026
Vareš Ramping up to Full Production in 2026 On track to achieve 850,000 tonne per annum rate by year-end 2026 a transitional year for Vareš % of 2026 gold equivalent production by quarter4,5 • Development rates advancing according to plan • Advancing paste backfill plant • Accelerating gold and silv
Slide 7: Progressing Priority Projects at Vareš
Progressing Priority Projects at Vareš On track to achieve 850,000 tonne per annum rate by year-end Installation of the water treatment plant Construction of paste backfill plant advancing well 7
Slide 8: Chelopech: Stable Production with Near-Term Growth Potential
Chelopech: Stable Production with Near-Term Growth Potential On-track to meet 2026 guidance Q1 2026 Q1 2025 2026 Guidance4 Ore processed Kt 507 533 2,100 - 2,200 Head grades Gold g/t 2.66 2.61 Silver g/t 13.64 6.47 Copper % 0.74 0.60 Recoveries Gold % 74.9 83.6 Silver % 60.7 44.8 Copper % 82.8 84.5
Slide 9: Ada Tepe: Responsible Mine Closure
Ada Tepe: Responsible Mine Closure Restoring and returning the mine footprint to the Natura 2000 protected area • First new mine in the Balkans in over 40 years • Demonstration of DPM’s ability to permit, build and operate world-class assets Establishing a new track record of responsible mine closur
Slide 10: Advancing the Čoka Rakita Project
Advancing the Čoka Rakita Project High-margin growth project with first production targeted for H1 2029 Feasibility Study Results6 • Feasibility study outlines a robust, high-margin gold operation $782M NPV5% | 36% IRR robust economics at $1,900/oz. Au • NPV5% of $2.2B at $3,500/oz. gold price • Swi
Slide 11: Rakita Camp: Large, Untested Porphyry-Skarn System
Rakita Camp: Large, Untested Porphyry-Skarn System Multiple prospects within 1 to 2km from Čoka Rakita project infrastructure • Intensive camp-wide exploration campaign ongoing • 5 discoveries since 2022, with several untested targets to the north • Multiple targets on Potaj Čuka and Pester Jug lice
Slide 12: Growing Precious Metals Producer
Growing Precious Metals Producer Organic growth funded from a strong balance sheet Operating Assets Growth Pipeline 355 - 400 Growth prospects 305 - 365 320 - 365 Čoka Rakita Dumitru Potok 288 project +189,000 oz.6 Wedge Zone Deep (first 5 years) prospect Rakita Camp exploration Chelopech North & Br
Slide 13: Financial Results Highlights
Financial Results Highlights 1313
Slide 14: Financial Results Highlights
Financial Results Highlights Record earnings and free cash flow $ millions except where noted Q1 2026 Q1 2025 % change Q1 free cash flow2 Revenue 310.4 144.1 115% $203.3 million Adjusted net earnings3 168.2 55.4 203% Per share ($/sh) 0.76 0.32 138% Q1 adjusted net earnings3 Cash provided from operat
Slide 15: Key Cost Metrics and Capital Expenditures
Key Cost Metrics and Capital Expenditures All-in sustaining cost1 Capital expenditures $ per GEO sold $ millions All-in sustaining cost Average realized gold price7 Q1 2026 2026 Guidance 4 200 - 230 $4,955 1,300 - 1,450 $1,686 25 - 32 34 3 Q1 2026 2026 Guidance4 Sustaining Growth and Other MTM for s
Slide 16: 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 $ millions Total liquidity $975M as at March 31, 2026 $575 2 Up to $200M of share buybacks in 2026 2. Refer to footnote #2 on slide 18. 16
Slide 17: DPM Metals: A Premier Mining Business
DPM Metals: A Premier Mining Business Strong fundamentals with a peer-leading fully-funded growth pipeline High-margin asset portfolio driving strong free cash flow generation Attractive high-quality growth projects Proven project development capabilities Strong balance sheet and sustainable financi
Slide 18: Footnotes
Footnotes 1 Cost of sales per ounce of gold sold represents cost of sales for Chelopech and Ada Tepe, divided by payable gold in concentrate sold. This measure is before by-product credits. All-in sustaining cost per ounce of gold, or GEO where applicable, is a non-GAAP ratio which represents cost o
Slide 19: 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