Major Drilling Group International Inc. · TSX:MDI
Major Drilling Group International — Investor Presentation (May 2026)
22 slides from Major Drilling Group International's investor presentation, May 2026
Slide 1: Investor Presentation May 2026
QUALITY - SAFETY - RESULTS Investor Presentation May 2026 MDI.TSX
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. All statements, other than statements of historical facts, included in this presentation that address future events, developme
Slide 3: Why Major Drilling?
Why Major Drilling? Low Risk Exposure …with Substantial to the Mining Space... Upside Diversification by Commodity, Customer Commodity Price Strength Expected to Lead Base, and Geography to Growing Levels of Spending by Seniors Strong Balance Sheet and Liquidity Position Increasing Number of Junior
Slide 4: Low Risk: Diversification by Commodity
Low Risk: Diversification by Commodity As a provider of drill core, strong ability MDI has historically been driven by gold exploration, but to pivot between commodities (and growth in South America and increased copper demand projects) based on changes in demand. has led to greater base metal expos
Slide 5: Low Risk: Diversification by Customer (and Project)
Low Risk: Diversification Top by Customer (and Project) Clients •90% of Major Drilling revenue is sourced from senior and intermediate mining companies, z providing revenue stability. •Many larger, globally established customers typically consist of several ‘independent’ regional projects, providing
Slide 6: Low Risk: Geographic Diversification (in Stable Regions)
Low Risk: Geographic Diversification (in Stable Regions) Oyu Tolgoi Op: Rio Tinto 20+ 6 Gobi Desert, Mongolia Registered Continents Countries Grasberg Mine Op: Freeport Indonesia Fourmile Op: Barrick Gold Nevada, USA Multiple Projects Op: Rio Tinto & FMG >6,000 697 Australia Employees Drills Key Pro
Slide 7: Strong Balance Sheet with Excellent Liquidity
Strong Balance Sheet with Excellent $177.1M $39.6M Liquidity LIQUIDITY NET CASH POSITION • Robust liquidity position supports Q2 Q3 ongoing fleet modernization and an Balance sheet ability to take advantage of any 2026 2026 attractively priced growth Cash ($M) 88.6 64.7 opportunities. Total Liquidit
Slide 8: Drilling from Discovery Through Production
Drilling from Discovery Through Production Diverse revenue streams as MDI provides drilling throughout the lifecycle of a mine 1 2 3 4 5 6 Early-Stage Discovery Feasibility Construction Ramp-Up Steady State Operations Exploration • Substantially larger RC • Definition & resource • Definition & grade
Slide 9: Outlook for 2026
Outlook for 2026 Several Positive Data Points Lead to Optimistic Outlook • Record gold prices above the $4,500 level, more than $1,500/oz higher when compared to the same period last year • Increased free cash flow generation has led to stronger producer balance sheets, coupled with depleted reserve
Slide 10: Equity Capital Raises Also Beginning to Increase
Equity Capital Raises Also Beginning to Increase Expecting Strength in Jr. Equity Financings to Continue, Supported by Gold Price • Gold remains in record high territory, exceeding $4,500/oz, $70.0 $3,463 $3,613 $3,750 but a disconnect between gold price and junior financings $60.0 $3,250 $55.9 pers
Slide 11: Exploration Budgets Remain Well Below Prior Peak
Exploration Budgets Remain Well Below Prior Peak Record High Gold & Copper Prices Expected to Lead to Growing Exploration Budgets • Exploration spending has not yet caught up to levels required to replenish reserves. • Global exploration spending estimated at $12.4B in 2025, well below the $21.5B sp
Slide 12: Operational Leverage
Q3 2026 Q3 2026 Operational Leverage # Rigs Utilization Specialized 306 49% Conventional 158 53% Excellent operational leverage driven by: Underground 233 55% • Existing fleet capacity • Optimal levels of inventory & consumables Total 697 52% • Retention of experienced crews *Note that the maximum u
Slide 13: Drilling Analytics, Borehole Survey Data, AI Imaging and Logging
Drilling Analytics Optimizing drill performance and safety by providing real-time data, including the ability to track drill function pressures, water usage, and much more. Borehole Survey Data Using turn-key data acquisition and interpretation services to meet each project’s specific needs and obje
Slide 14: Major Drilling Capital Structure
Major Drilling Capital Structure TSX:MDI Company Ticker Share Price (C$) OTCPK:MJDL.F Closing Price (April 30, 2026) $15.67 52-Week Trading Range (C$) $18.65 - $7.83 Shares Outstanding (Basic) 82.1M Shares Outstanding (FD)1 82.3M Market Capitalization (Basic) $1,295M Average Daily Volume (shares/day
Slide 15: Why Major Drilling?
Low Risk Exposure to the Mining Space... …with Substantial Upside Diversification by Commodity, Commodity Price Strength Expected Geography, and Customer to Lead to Increased Exploration • Gold prices have risen sharply since Jan 2025, • Unlike a mining or royalty company, MDI while silver has incre
Slide 16: IR@majordrilling.com
QUALITY - SAFETY - RESULTS Ryan Hanley Director of Capital Markets IR@majordrilling.com
Slide 17: Management Team
Management Team Denis Larocque, President & CEO Ian Ross, Chief Financial Officer Ashley Martin, Chief Operating Officer • Joined MDI in 1994 and was subsequently involved • Joined MDI in 2011 as the Director of Tax, • Joined MDI in 2001 as a directional technician/borehole in acquisitions and branc
Slide 18: Board of Directors
Board of Directors Kim Keating (Chair), P. Eng., MBA, ICD.D Caroline Donally, CA Louis-Pierre Gignac, M.A.Sc., CFA • Director of MDI since 2019 • Director of MDI since 2023 • Director of MDI since 2018 • Director of Pan American Silver and Drax Group plc. • Managing Partner of Sprott Inc. and Managi
Slide 19: Specialized Drilling
Specialized Mine Services Drilling Percussive Drilling Surpassing customer expectations, industry leader in operational excellence and on-site safety. Rotary Drilling Specialized drilling services have significant barriers to entry, focus on areas more difficult to access. Examples include: Surface
Slide 20: FQ3 2026 Financial Review
FQ3 2026 Financial Review FQ3 2026 FQ3 2025 Revenue $184.6 $160.7 Gross Margin 6.6% 10.3% Adjusted Gross Margin1 14.3% 19.5% Capital Expenditures $10.3 $12.6 EBITDA2 $5.1 $7.8 Net Loss ($10.8) ($9.1) Loss per Share ($0.13) ($0.11) Note - All values in millions $CAD, except EPS, unless otherwise indi
Slide 21: Sustainability
Sustainability -5% DAP Set a target to reduce scope 1 Established a Decarbonization Ongoing deployment of the and scope 2 GHG emissions Action Plan (DAP) Operations Trailblazer AquaLink intensity by 5% by 2030 Committee Remote Water Pump system 63% Continue to increase the number 63% of Board of Dir
Slide 22: High Quality Customer Base
High Quality Aligned To Balance Sheet Specialized Experienced Customer Base Market Sustainability Operations Management
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