Slide 1: Q4 2025 Results Conference Call
TSX-V: ARTG | artemisgoldinc.com Q4 2025 Results Conference Call FEBRUARY 19, 2026
Slide 2: Forward Looking and Cautionary Statements
Forward Looking and Cautionary Statements This presentation contains certain forward-looking statements and forward-looking information as defined under applicable Canadian and U.S. securities laws. Statements contained in this press release that are not historical facts are forward- looking stateme
Slide 3: On Today's Call
On Today’s Call DALE ANDRES JEREMY LANGFORD TONY SCOTT GERRIE VAN DER WESTHUIZEN Chief Executive Officer & Director President Chief Business Development Officer Chief Financial Officer and Corporate Secretary CANDICE ALDERSON ERIK MARCHAND MEG BROWN Chief ESG Officer VP Finance VP Investor Relations
Slide 4: Dividend Policy Approved; Inaugural Dividend in H2 2026
Dividend Policy Approved; Inaugural Dividend in H2 2026 Industry-leading margins powering growth and capital returns Capital allocation priorities 40% of free cash flow for shareholder returns (2028+) • Maintaining a strong balance sheet Base Dividend • Reinvesting in attractive growth opportunities
Slide 5: Track Record of Success and Value Creation
Track Record of Success and Value Creation De-risking and disciplined growth of the Tier 1 Blackwater Mine Delivered 192,808 oz of gold Strengthened production in 2025, in balance sheet Completed construction Declared commercial line with guidance, at with $450M of Blackwater in industry- production
Slide 6: Q4 2025 Operating Highlights
Q4 2025 Operating Highlights Continued plant optimization; grades and recoveries trending higher Q4 RESULTS: Total post- May and Select operating results Q3 2025 Q4 2025 commercial • AISC2 of US$925/oz in Q4, within guidance range for June 2025 production4 2025 at US$869/oz Total mined (t) 7,221,471
Slide 7: 2025 Operating Highlights
2025 Operating Highlights Record quarterly production in Q4; grades and recoveries trending higher 2025 Monthly Mined Ore Tonnes (Mt) 2025 Monthly Gold Recoveries1 (%) Successful first year of operations Commercial Commercial 5.0 production 100% production • 192,808 ounces of gold produced2, 4.0 wit
Slide 8: Phase 1 Deferred Capital Projects
Phase 1 Deferred Capital Projects Key projects advanced in 2025 15-metre lift on tailings dam • In preparation for Phase 1A and Phase 2 • Alternative sourcing of construction materials required Ore stockpile expansion • Additional capacity required earlier due to waste converting to low and medium g
Slide 9: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights Industry-leading AISC margin1; generating strong and steady operating cash flow Earnings Drivers: Select Financial Information Q4 2025 YTD 2025 Q3 2025 • 8% increase in revenue due to 8% growth in production and ounces sold ($000s except ounces sold and per share informa
Slide 10: Financial Highlights: Balance Sheet Strengthened
Financial Highlights: Balance Sheet Strengthened Paid down RCF with new unsecured notes; focused on building cash for expansion Dec 31 balance sheet, pro forma for bond issue Subsequent to year end: • Closed on a $450 million offering of senior unsecured 5.625% notes on February 3, 2026 $168M • Used
Slide 11: 2026 Guidance – Industry-leading AISC
1 2026 Guidance – Industry-leading AISC Production guidance 265,000-290,000 oz gold Production guidance (190,000-230,000oz of gold) Original guidance maintained, but expect in the lower half of the range 2026 Guidance Gold production (oz) 265,000 - 290,000 AISC1 (US$/oz sold) $925 - $1,025 Sustainin
Slide 12: Industry-leading Growth Profile, Disciplined Project Delivery
Industry-leading Growth Profile, Disciplined Project Delivery Production of >500,000 ounces of gold per year by 2029 Production guidance (190,000-230,000oz of gold) Meaningful and near-term organic growth Capital efficient, staged expansions funded through Original guidance maintained, but expect in
Slide 13: Phase 1A Progress – Growth from 6 Mtpa to 8 Mtpa
Phase 1A Progress – Growth from 6 Mtpa to 8 Mtpa Engineering and procurement advancing well • All major equipment packages have been ordered • Key material quantity estimates are complete Construction activities are continuing • Foundations completed for the new CIL pre-aeration and New leach tank f
Slide 14: EP2 Progress – Transforming Blackwater into one of Canada's largest gold mines
EP2 Progress – Transforming Blackwater into one of Canada’s largest gold mines Engineering and procurement progressing • Orders placed for 18MW SAG and ball mills in Q3 2025 • Orders placed for other long-lead time items including gyratory crusher, secondary crushers and pebble crusher Early works a
Slide 15: Q4 Summary / 2026 Priorities
Q4 Summary / 2026 Priorities Solid Q4 results – Record production; continuing to optimize plant and cost performance Robust balance sheet – Growing cash balance and strong liquidity Strong AISC margins – Industry-leading Q4 AISC margin of US$2,297 per oz Phase 1A – Engineering and construction advan
Slide 16: Q4 2025 Results Conference Call
TSX-V: ARTG | artemisgoldinc.com Q4 2025 Results Conference Call FEBRUARY 19, 2026