Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Q2 2026 Earnings Presentation
16 slides from Eldorado Gold's earnings presentation, Jul 31, 2026
Slide 1: Q2 2026 Results Conference Call
Q2 2026 RESULTS CONFERENCE CALL July 31, 2026 Skouries first ore
Slide 2: Forward Looking Statement
Forward Looking Statement Definitions and Photos: Capitalized terms used in this presentation but not otherwise defined herein have the meanings ascribed thereto in the Management’s Discussion and Analysis dated July 30, 2026 of Eldorado Gold Corporation for the three and six months ended June 30, 2
Slide 3: Non-IFRS Measures
Non-IFRS Measures Certain non-IFRS financial measures and ratios are included in this presentation, including total cash costs ($/oz sold), all-in sustaining costs ("AISC") ($/oz sold), adjusted net earnings, adjusted net earnings per share, adjusted EBITDA, cash flow from operating activities befor
Slide 4: Participants and Agenda
Participants and Agenda George Burns CEO MCILVENNA BAY & SKOURIES UPDATE Paul Ferneyhough FINANCIALS EVP & CFO Simon Hille OPERATIONS EVP & COO Christian Milau CLOSING REMARKS President 3
Slide 5: Q2 2026 Operating Highlights
Q2 2026 Operating Highlights Consistent Production, Ongoing Cost Discipline and Advancing Growth Projects SECOND QUARTER 2026 HIGHLIGHTS • First half of the year tracking to plan: Q2 performance in line with expectations and full-year guidance (back-half weighted year). • McIlvenna Bay Mine produced
Slide 6: Skouries: Transitioning from Construction to Operations
Skouries: Transitioning from Construction to Operations First copper-gold concentrate expected in Q3 2026; commercial production expected in Q4 2026. . • Overall project progress reached 97% at June 30, 2026, with the process plant substantially complete and wet commissioning well underway. • First
Slide 7: Financial Results: Q2 2026
Financial Results: Q2 2026 ($millions unless otherwise noted) Q2 2026 Q2 2025 YTD 2026 Key Metrics Gold produced (oz) 104,616(4) 133,769 204,974(4) Gold sold (oz) 102,691 131,489 203,310 Revenue 487.5 451.7 1,019.9 Average realized gold price ($/oz sold)(1) 4,379 3,270 4,632 Production costs 184.8 1
Slide 8: Strong Financial Position – Flexibility to Fund Growth
Strong Financial Position – Flexibility to Fund Growth TOTAL LIQUIDITY1,2 CASH & EQUIVALENTS1 AVAILABLE FACILITY2 ~$855 M ~$555 M ~$300 M CAPITAL STRUCTURE RETURNS TO SHAREHOLDERS1 Senior credit facility2 $450M ARCA ($300M currently available) + $100M - drawn QUARTERLY DIVIDEND BUYBACKS (2025 & H1 2
Slide 9: McIlvenna Bay: Ramp-Up, Expansion Potential and District Growth
McIlvenna Bay: Ramp-Up, Expansion Potential and District Growth McIlvenna Bay first copper concentrate achieved on June 7, 2026; ramping up towards commercial production • McIlvenna Bay marked a key milestone: first copper concentrate in Q2 and and first zinc concentrate produced in Q3 65,398 lbs of
Slide 10: Underground 2026 – Long Section Looking South
Underground 2026 – Long Section Looking South Mine on track to ramp up to steady state and well prepared for mill ramp up 9
Slide 11: Lamaque Complex
Lamaque Complex Higher throughput and Ormaque contribution supported production growth, Sigma Mill expansion evaluation advancing 52,340 oz $865/oz $1,192/oz Q2 GOLD PRODUCTION Q 2 T O T AL C AS H C O S T ( 1 ) Q 2 AI S C ( 1 ) Q2 2026 HIGHLIGHTS • Q2 production: Supported by higher throughput, stro
Slide 12: Kışladağ
Kışladağ Executing a major waste-stripping campaign that supports future capacity and resource upside 19,108 oz $2,050/oz $2,407/oz Q2 GOLD PRODUCTION Q 2 T O T AL C AS H C O S T ( 1 ) Q 2 AI S C ( 1 ) Q2 2026 HIGHLIGHTS • Q2 production: Fewer tonnes and lower stacked grade, as planned, while accele
Slide 13: Efemçukuru
Efemçukuru Reliable Production, Consistent Performance 18,019 oz $1,926/oz $2,252/oz Q 2 P AY AB L E P R O D U C T I O N Q 2 T O T AL C AS H C O S T ( 1 ) Q 2 AI S C ( 1 ) Q2 2026 HIGHLIGHTS • Q2 payable production: Lower grade, partly offset by higher throughput. • Costs: Impacted by higher royalti
Slide 14: Olympias
Olympias Expansion investment supports the next phase of growth, with ramp-up expected in Q1 2027 15,125 oz $98.6M $2,465/oz Q2 GOLD PROD Q2 REVENUE (VS $65.9) Q 2 AI S C Q2 2026 HIGHLIGHTS • Production: Olympias has delivered three consecutive quarters of operational stability, with recoveries back
Slide 15: Defining Year
Defining Year Eldorado at a pivotal inflection: growth & execution Q2 2026 WRAP UP • Q2 delivered solid performance continued steady operational and financial performance; advancing on key growth projects. • Skouries and McIlvenna Bay position us for meaningful growth in production, cash flow and me
Slide 16: Eldorado Gold Continuing to Deliver Value Creation
fe & Sustainable Operation Sa s 80% increase in Robust balance GEO production sheet to fully fund by 2027 from our growth 2025 initiatives Eldorado Gold Increasing On track to production, become one of Continuing to Deliver disciplined cost control, strong the EU’s largest copper producers metal pri