Slide 1: Q2 2026 Results Conference Call & Webcast
TSX:ERD | MSE:ERDN | OTCQX:ERDCF www.erdene.com Q2 2026 RESULTS CONFERENCE CALL & WEBCAST AUGUST 17, 2026
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation contains certain forward-looking information and statements, including without limitation, statements regarding the Corporation's expectations in respect of its future financial position, business strategy, production at Bayan Khundii, construction and com
Slide 3: Erdene's Speakers
ERDENE’S SPEAKERS Peter Akerley Robert Jenkins President & Chief Financial Officer Chief Executive Officer 3
Slide 4: Khundii Minerals District
KHUNDII MINERALS DISTRICT Emerging Mining District less than 200km from Chinese Border • Rapidly growing mining hub MONGOLIA less than 200 km from the Ulaanbaatar Chinese border Bayankhongor • Efficient access to key Trans Altai markets Terrane Shinejinst • Strong government Xinjiang Hami Naomaohu K
Slide 5: Q2 2026 Highlights
Q2 2026 HIGHLIGHTS Quarter of Improved Operations and Growth Production Throughput & Grade Recoveries 11.7 koz gold 2.4 g/t gold Strong 37% increase performance 25% increase Zuun Mod PEA H2 Exploration Ample liquidity in Focused on BK & On-track for mid-H2 in EM and at ERD DH expansion strong moly m
Slide 6: Bayan Khundii – Processing Plant
Q2 2026 HIGHLIGHTS Bayan Khundii – Processing Plant Throughput Recoveries • Fed 153 kt ore to the plant, 2,000 1,675 1,682 100% 96% 96% 96% 1,501 averaging 1,682 t/d 1,500 95% 1,000 90% • Gold recoveries of 96%, 500 85% above forecast of 93% 80% - Q4-2025 Q1-2026 Q2-2026 Q4-2025 Q1-2026 Q2-2026 • Pr
Slide 7: Bayan Khundii – Mining Operations
Q2 2026 HIGHLIGHTS Bayan Khundii – Mining Operations • Significant improvement in Midfield Zone mining and drill and blast performance • Moved 3.8Mt of material • Mined 247Kt ore @ 1.4 g/t Striker Zone Au, almost 60% increase from Q1 • Fleet of 18 trucks, 5 excavators and 3 dozers Gold Hill Zone 25%
Slide 8: Khundii Gold District
KHUNDII GOLD DISTRICT Exploration Focused on Expansion – 12,000 metre Drill Program Commencing in Q3 Khundii Mining License • Bayan Khundii hydrothermal complex remains under-explored N Ulaan Exploration License • Exploration beyond BK has focused Resource Expansion Targets on Khundii West and Dark
Slide 9: Khundii West Exploration
KHUNDII WEST EXPLORATION 9,000m Drill Program Commencing in August 2026 – Opportunity for Significant Expansion Section Viewing East US$3,900/oz Au Pit Outline A B 0.3g/t Gold Outline Striker West 2024 Drilling A Hole From To Interval g/t Au BKD-333 130 178 48 0.3 BDK-339 129 183 54 1.1 BDK-377 106
Slide 10: Dark Horse & Altan Arrow Exploration
DARK HORSE & ALTAN ARROW EXPLORATION 3,000m Drill Program Focused on Expansion of Shallow Resource for CIP and Potential Heap Leach Dark Horse Altan Arrow Drill Plan 2026 10
Slide 11: Altan Nar – High-Grade Gold-Silver Deposit
ALTAN NAR – HIGH-GRADE GOLD-SILVER DEPOSIT Development Optionality 16km north of Bayan Khundii – CIP, Heap Leach or Flotation • Hosts 313 koz indicated (2.16 g/t Au, 15.7 g/t Ag) and 1430ppb Gold in Soil 210 koz inferred (1.44 g/t Au, 6.8 g/t Ag) • 14% of the gold inventory is oxide-hosted –potentia
Slide 12: Khundii Gold District – Mine Life Extension Potential
KHUNDII GOLD DISTRICT – MINE LIFE EXTENSION POTENTIAL Combined Gold Resources Provide Clear Path for Longer Life Operations at Bayan Khundii Within each mineral resource estimated for the three Projects are zones of higher average grade material at a 0.7 g/t gold cut-off grade, as follows: • Current
Slide 13: Zuun Mod
ZUUN MOD One of Asia’s Largest Undeveloped Mo-Cu Deposits Advancing Preliminary Economic Zuun Mod Tonnage Mo Grade Cu Grade MoEq Contained Mo Contained Cu MoEq Resources Assessment (mid H2 2026) Classification (Mt) (%) (%) (%) (Mlbs) (Mlbs) (Mlbs) Measured 45.8 0.057 0.062 0.074 57.7 62.2 74.8 • Low
Slide 14: Strong Demand & Tight Supply Support Molybdenum Market
STRONG DEMAND & TIGHT SUPPLY SUPPORT MOLYBDENUM MARKET Driven by Infrastructure, Energy Transition and Technology 30 30 LME / Platts Mo Price SURPLUS / DEFICIT (KT MO) @US$33.42/lb 20 25 MO PRICE ($/LB) 10 20 >50% Mo Concentrate (Chinese) 0 15 @ US$30.60/lb -10 10 -20 5 • Primary Use of Mo is in Spe
Slide 15: Wholly-Controlled Exploration Projects
Q2 2026 HIGHLIGHTS Wholly-Controlled Exploration Projects Khuvyn Khar (wholly owned) Tereg Uul (earn-in) • 2026: 65 metres 0.63% copper (“Cu”) including 30 metres • Large licence in the Oyu of 1.25% Cu Tolgoi trend: copper-gold • 16km porphyry copper, molybdenum, silver system – open • Q2: at depth
Slide 16: Financial Results
Q2 2026 HIGHLIGHTS Financial Results Erdene Mongol* Erdene Resource Development CAD million unless otherwise noted Q2-2026 Q1-2026 CAD million unless otherwise noted Q2-2026 Q1-2026 Revenue $75 $57 Income from Associate – EM $11.2 $7.0 Price realized (US$ per oz) - Gold $4,493 $4,872 Operating Expen
Slide 17: Safety, Environment & Communities
SAFETY, ENVIRONMENT & COMMUNITIES Sharing Benefits with All Stakeholders Job Creation Support Health Services for Local Community • +1000 Direct and indirect job creation • Preventive screening and diagnosis for local community • +300 New jobs for province residents • Programs to improve the quality
Slide 18: 2026 Deliverables and Catalysts
2026 DELIVERABLES AND CATALYSTS GOLD BAYAN KHUNDII* – ACHIEVING STABLE PRODUCTION • Transitioned to consistent operations and cash flow generation GOLD/COPPER TEREG UUL *** – DRILL PROGRAM • Testing targets to unlock new potential GOLD ULAAN* – RESOURCE ESTIMATE & MINING LICENSE • Maiden Resource Co
Slide 19: Questions?
QUESTIONS? CONTACT US FOR MORE INFORMATION FOLLOW US ON SOCIAL MEDIA Phone (Canada): +1–902–423–6419 ErdeneRes Phone (Mongolia): +976 –7777–8534 Erdene Resource Development Corp. Website: www.erdene.com Email: info@erdene.com TSX:ERD | MSE:ERDN | OTCQX:ERDCF