Slide 1: Uniquely Positioned to Deliver Superior Value
TSX:DPM TSX: DPM ASX: DPM Uniquely Positioned to Deliver Superior Value Third Quarter 2025 Results November 14, 2025
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: Third Quarter 2025 Highlights
Third Quarter 2025 Highlights
Slide 5: Third Quarter Highlights
Third Quarter Highlights Premier mining On-track business to meet 2025 guidance4 Added a high-quality producing mine, Continuing our operational track record of generating a peer-leading growth profile delivery Record Advancing financial results growth pipeline Generated $148M of free cash flow Čoka
Slide 6: Vareš Update
Vareš Update On track to achieve 850,000 tonnes by year-end 2026 Integration activities proceeding well • Embedding DPM health and safety practices • Transforming training programs for local personnel • Engaging with stakeholders Advancing priorities to support ramp-up to full production • Driving d
Slide 7: Chelopech Operating Highlights
Chelopech Operating Highlights Q3 2025 YTD 2025 2025 Guidance4 Ore processed Kt 557 1,631 2,090 - 2,200 Head grades Gold g/t 3.02 2.99 — Copper % 0.77 0.68 — Recoveries Gold % 81.9 82.0 — Copper % 82.1 82.5 — Metals contained in concentrates produced Gold Koz. 44.3 128.7 160 - 185 Copper Mlbs. 7.8 2
Slide 8: Chelopech: Targeting 10+ Years of Mine Life
Chelopech: Targeting 10+ Years of Mine Life Multi-decade track record of adding incremental mineral reserves to offset depletion • Strong Mineral Resource base: 1.2Moz. Au • 4,100 ha land package with compelling exploration prospects Wedge Zone Deep target • New zone of contiguous pyrite rich high-s
Slide 9: Ada Tepe Operating Highlights
Ada Tepe Operating Highlights Q3 2025 YTD 2025 2025 Guidance4 Ore processed Kt 223 561 610 - 700 Gold grade g/t 3.41 3.21 — Gold recovery % 79.0 79.4 — Gold contained in concentrate produced Koz. 19.4 46.0 65 - 80 Payable gold in concentrate sold Koz. 18.3 45.2 64 - 78 Cash cost per tonne of ore pro
Slide 10: Loma Larga Project
Loma Larga Project Evaluating all options to preserve value and optionality for shareholders • DPM confident that environmental management plan and robust environmental protection measures comply with Ecuadorian standards • Reflects DPM's proven track record of responsible development • Commitment t
Slide 11: Advancing the Čoka Rakita Project
Advancing the Čoka Rakita Project High-margin growth project with first production targeted for H1 2029 PFS Results5 170koz. annual gold production • Feasibility study expected to be completed by year-end 2025 (first 5 full years) • Revised permitting timeline anticipates start-up of mine constructi
Slide 12: Dumitru Potok: Wide, High-Grade Intercepts
Dumitru Potok: Wide, High-Grade Intercepts Potential to unlock additional value and growth potential • Drilling expanded high-grade copper-gold-silver mineralization along both sides of causative intrusion • 450 m of strike length with vertical development of 300 m • Thickness of 50 m to 100 m • Upp
Slide 13: Rakita Camp: Large, Untested Porphyry-Skarn System
Rakita Camp: Large, Untested Porphyry-Skarn System Multiple prospects within 1 km to 2 km from planned Čoka Rakita project infrastructure • Intensive camp-wide exploration campaign ongoing with 15 drill rigs • Expanded Serbia drilling program by an addition 15,000 to 20,000 m • Expect to report 3 in
Slide 14: Financial Results Highlights
Financial Results Highlights 1414
Slide 15: Financial Results Highlights
Financial Results Highlights Record revenue, earnings and free cash flow $ millions except where noted Q3 2025 Q3 2024 % change YTD 2025 YTD 2024 % change Free cash flow2 Revenue 267.4 147.3 82% 598.0 427.9 40% $147.8M Adjusted net earnings3 129.2 46.2 180% 272.2 149.6 82% Per share ($/sh) 0.73 0.26
Slide 16: Key Cost Metrics and Capital Expenditures
Key Cost Metrics and Capital Expenditures On track to achieve guidance metrics for all-in sustaining cost and capital expenditures All-in sustaining cost1 (excludes Vareš) Capital expenditures (excludes Vareš) $ per ounce of gold sold $ millions 6 4 All in sustaining cost Average realized gold price
Slide 17: Financial Strength to Fund Growth
Financial Strength to Fund Growth Financial Position Ended Q3 2025 with $414M in cash, $ millions following YTD 2025 spending: • $399M in cash for Adriatic transaction 150 • $136M to retire Adriatic's debt Total liquidity • $137M of capital returned to investors $564M (dividend & share buybacks) as
Slide 18: DPM Metals: A Premier Mining Business
DPM Metals: A Premier Mining Business Strong fundamentals with a catalyst-rich investment horizon driving peer-leading growth outlook High-margin asset portfolio driving strong free cash flow generation Attractive high-quality growth projects Proven project development capabilities Strong balance sh
Slide 19: Growing Precious Metals Producer
Growing Precious Metals Producer Expected to grow near-term production to 425,000 gold equivalent ounces by 2027 • Growth from Vareš complements organic initiatives • Growth and exploration funded from a strong balance sheet 5 Committed to being a primary precious metals producer • 70% of revenue fr
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: 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