Slide 1: Second Quarter Results
Unlocking Resources and Generating Value Unlocking Resources and Generating Value TO THRIVE TO THRIVE AND GROW TOGETHER AND GROW TOGETHER Second Quarter Results TSX:DPM August 2, 2023 TSX:DPM
Slide 2: Forwarding Looking Statements
Forwarding Looking Statements Certain statements and other information included in this presentation and our other disclosure documents constitute “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”). Forward Looking Statements are statements tha
Slide 3: Use of Non-GAAP Measures
Use of 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
Slide 4: Second Quarter 2023 Highlights
Second Quarter 2023 Highlights David Rae President & CEO TSX: DPM 4
Slide 5: Q2 2023 Results Highlights
Q2 2023 Results Highlights Solid gold production and cost performance driving significant free cash flow Metals Production All-in Sustaining Cost1 Metals contained in concentrate produced ($ per ounce of gold sold) Gold (K oz.) 270 - 315 Copper (M lbs) $700 - $860 $802 $733 145 76 30 - 35 8 15 Q2 20
Slide 6: Chelopech, Bulgaria
Chelopech, Bulgaria High-quality, low-cost flagship operation Q2 2023 Highlights Metals contained in concentrate produced • Grades increased compared to Q1 2023, as expected Gold (K oz.) Copper (M lbs) 150 - 170 • On track to achieve 2023 production and cost guidance • Upgrades to the tailing manage
Slide 7: Ada Tepe, Bulgaria
Ada Tepe, Bulgaria Strong Operating Performance Q2 2023 Highlights Metals contained in concentrate produced K oz. Au 120 - 145 • Q2 2023 all-in sustaining cost of $530/oz. at the low-end of guidance range • On track to achieve 2023 production and cost guidance 65 Brownfields exploration 32 • Permitt
Slide 8: Tsumeb, Namibia
Tsumeb, Namibia Q2 2023 Highlights Complex concentrate smelted K tonnes 200 - 230 • Additional maintenance in off-gas system concurrent with Ausmelt furnace maintenance, currently underway ▪ Expected to resolve maintenance issues in off-gas system 99 49 • Currenting tracking at the low end of produc
Slide 9: High-Grade Discovery at Čoka Rakita (Serbia)
High-Grade Discovery at Čoka Rakita (Serbia) Large defined footprint; remains open in multiple directions Highlights • 60 m by 60 m infill drilling largely complete • Extended deposit to the south • Confirmed and further extended the high-grade zone • Scout drilling outlined further extension potent
Slide 10: Čoka Rakita Highlights & Next Steps
Čoka Rakita Highlights & Next Steps Next steps • Additional 30,000 metres of infill and extensional drilling • Additional scout drilling near Čoka Rakita • 10,000 metres of drilling at Umka • Targeting maiden resource by year-end 2023 • Initiating scoping-level work Highlights • Strong mineralized f
Slide 11: High-Quality Growth Project: Loma Larga (Ecuador)
High-Quality Growth Project: Loma Larga (Ecuador) Potential to add low-cost production growth to our portfolio Project milestones • Underground gold-copper development project with potential to produce approximately 200,000 gold ounces annually7 ✓ Technical approval of the Environmental Impact Asses
Slide 12: Encouraging Exploration Results at Tierras Coloradas (Ecuador)
Encouraging Exploration Results at Tierras Coloradas (Ecuador) Drilling confirms presence of well-mineralized low-sulphidation epithermal vein system Located in the Loja province of Ecuador Low sulphidation epithermal vein system mapped over a 3 x 3.5 km area ▪ Over 8 km of vein strike length deline
Slide 13: Well-Positioned to Continue Delivering Value
Well-Positioned to Continue Delivering Value DPM’s strong fundamentals represent an attractive value opportunity Strong Production & AISC Building Our Pipeline Profile • Advancing permitting for Loma Larga • 270,000 Au oz. average annual • New high-grade discovery at Čoka Rakita in production5 Serbi
Slide 14: Second Quarter 2023 Financial Results
Second Quarter 2023 Financial Results Navin Dyal Executive Vice-President & CFO TSX: DPM 14
Slide 15: Key Cost Metrics and Capital Expenditures
Key Cost Metrics and Capital Expenditures On-track to achieve all-in sustaining cost guidance All-in sustaining cost1 Smelter cash costs2 Capital expenditures $ per ounce of gold sold $ per tonne of complex concentrate smelted $ millions $700 - $860 $802 Growth $733 Sustaining $340 - $410 $30 - $39
Slide 16: Financial Results Highlights
Financial Results Highlights Strong operation performance driving significant free cash flow generation Revenue Cash flow3 $ millions Cash provided from operating activities Free cash flow $323 $ millions $288 $151 $130 $135 $168 $134 $90 $73 $71 $59 $41 Q2 2022 Q2 2023 H1 2022 H1 2023 Q2 2022 Q2 20
Slide 17: Forecasting Another Strong Year in 2023
Forecasting Another Strong Year in 2023 Mining operations on track to achieve 2023 production and cost guidance Previous 2023 Revised 2023 H1 2023 Guidance5 Guidance5 Metals contained in concentrate produced Gold (K oz.) 144.9 270 – 315 N/A ON TRACK Copper (Mlbs) 15.1 30 – 35 All-in sustaining cost
Slide 18: Track Record of Disciplined Capital Allocation
Track Record of Disciplined Capital Allocation Balancing financial strength, reinvestment and return of capital to shareholders Returning Capital to Shareholders Investing in our Future • 36% of free cash flow 3 returned to shareholders in • Optimizing Loma Larga feasibility study the first half of
Slide 19: Appendix
APPENDIX APPENDIX TSX DPM 19
Slide 20: 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 is a non-GAAP ratio which represents cost of sales less depreciation
Slide 21: TSX:DPM
Corporate Head Office 150 King Street West, Suite 902 Toronto, Ontario M5H 1J9 T: 416 365-5191 Investor Relations jcameron@dundeeprecious.com T: 416 219-6177 www.dundeeprecious.com Follow us on Twitter @DundeePrecious TSX:DPM Visit our LinkedIn page linkedin.com/company/dundee-precious-metals-inc/