Wesdome Gold Mines Ltd. · TSX:WDO
Wesdome Gold Mines — Q2 2026 Earnings Presentation
34 slides from Wesdome Gold Mines's earnings presentation, Aug 14, 2026
Slide 1: Q2 2026 Highlights
Q2 2026 HIGHLIGHTS TSX: WDO | OTCQX: WDOFF August 14, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website. This presentation contains "forward-looking information" within the meaning of applicable Canadian securities legislati
Slide 3: Participants on Today's Call
Participants on Today’s Call Anthea Bath Philip Yee Tyler Mitchelson President and Chief Financial Officer Chief Operating Officer Chief Executive Officer Jono Lawrence Kevin Lonergan Senior Vice President Senior Vice President Exploration and Resources Technical Services 3
Slide 4: Q2 2026 Highlights
43,824 oz Gold produced $267 Million Revenue Q2 $94 Million Net Income 2026 $0.64 Earnings per share HIGHLIGHTS $42 Million Free Cash Flow1 ~$81 Million Capital returned through share repurchases 1. For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Perform
Slide 5: 2026 Technical Reports – The Foundation for What Comes Next
2026 Technical Reports – The Foundation for What Comes Next EAGLE RIVER KIENA Increased reserves and extended mine life Replaced high-grade depletion Achieved effective mill utilization Increased throughput Added economic tonnes at low discovery cost Advanced pipeline of opportunities 5
Slide 6: Building Wesdome for the Next Chapter
Building Wesdome for the Next Chapter Illustrative Production Growth Profile Mill Utilization1 < 50% Mill Utilization 50-100% Advancing Organic Growth Potential Wesdome, Siscoe Kiena North Inferred Kiena Mishi-Magnacon, Eagle River bulk-scale opportunities Dorset, BIF, Abbey Lake Eagle River Dubuiss
Slide 7: Financial Highlights
Financial Highlights
Slide 8: Continued Strong Financial Performance in Q2
Continued Strong Financial Performance in Q2 Revenue ($M) Net Income ($M) Increased by 28% from Q2 2025 Increased by 14% from Q2 2025 $267 $94 $209 $83 Q2 2025 Q2 2026 Q2 2025 Q2 2026 EBITDA ($M)1 Free Cash Flow ($M)1 Q2 FCF impacted by several Increased by 23% from Q2 2025 Decreased by 21% from Q2
Slide 9: Q2 Costs – More Cost Savings Ahead
Q2 Costs – More Cost Savings Ahead Q2 2026 All-in Sustaining Costs per Ounce Sold1 (US$/oz) Consolidated AISC of US$1,763 per ounce sold $205 $198 Sustaining mine exploration and development Sustaining mine exploration and development $1,076 $76 $1,603 $160 Cash costs2 $1,497 Sustaining mine capital
Slide 10: Maintaining Production and Cost Guidance
Maintaining Production and Cost Guidance 2026 Guidance Eagle River Kiena Consolidated Previous Updated Previous Updated Previous Updated Production Head grade (g/t) 13.0 - 14.0 11.5 – 12.5 8.0 - 9.5 8.0 - 9.5 10.0 - 12.0 10.0 - 11.0 Gold production (oz) 105,000 - 115,000 105,000 - 115,000 75,000 - 9
Slide 11: Balance Sheet and Liquidity Overview
Balance Sheet and Liquidity Overview $0.9B - $1.4B Total Liquidity ($M) 2026-2028 Cumulative FCF1 (US$3,500-4,500/oz Au as of June 30, 2026 ~40% 2026-2028 Average FCF1 Margin (Consensus) US$250M Revolving Credit Facility ~20% 2026-2028 Average FCF1 Yield (Consensus) $746M Total Liquidity $391M $0.12
Slide 12: Operations
Operations — or SS > oe #, we} . Ss
Slide 13: Eagle River – Strategically Shifting Towards a Value-Focused Operation
Eagle River – Strategically Shifting Towards a Value-Focused Operation Q2 Production (koz) H1 Production (koz) 26 55 22 50 ~800 tpd with 10% improvement target for H2 ~50koz produced YTD Q2 2025 Q2 2026 H1 2025 H1 2026 300 Zone stope drilled off in advance of H2 Daily Mill Throughput (tpd) Improving
Slide 14: Delivering Value Through Operational Excellence
Delivering Value Through Operational Excellence FY 2025 to 2026 H1 Achievements 14% Increase in milling rate Milling Rate Unplanned Downtime (tonnes/hour) (hours/month) 36 47 60% 60% Decrease in unplanned downtime 14% 36 34 27 12% 32 Increase in energy efficiency 2024A 2025A 2026 H1 2024A 2025A 2026
Slide 15: Eagle River Operating Costs and Capital Investment
Eagle River Operating Costs and Capital Investment In $000s, except per units and per share amounts Q2 2026 Q2 2025 H1 2026 H1 2025 Gold revenue from mining operation 133,537 122,551 312,172 238,001 Cost of sales Mining 20,741 16,439 38,069 33,091 Processing 7,943 6,535 15,059 12,930 Site administra
Slide 16: Kiena – Operational Flexibility Delivered
Kiena – Operational Flexibility Delivered Q2 Production (koz) H1 Production (koz) 22 39 17 34 Ramp breakthrough in May First production blast at Presqu’île Q2 2025 Q2 2026 H1 2025 H1 2026 +13% tonnes quarter-over-quarter with strong grades Daily Mill Throughput (tpd) 647 684 +28% gold production yea
Slide 17: Kiena Operating Costs and Capital Investment
Kiena Operating Costs and Capital Investment In $000s, except per units and per share amounts Q2 2026 Q2 2025 H1 2026 H1 2025 Gold revenue from mining operation 132,809 85,804 253,354 157,729 Cost of sales Mining 20,108 15,628 41,506 30,793 Processing 4,878 3,815 8,646 7,351 Site administration and
Slide 18: Exploration
Exploration
Slide 19: Eagle River – H1 2026 Exploration Overview
Eagle River – H1 2026 Exploration Overview • 4 primary exploration objectives YTD Drilling vs Guidance (m) Guidance YTD Actuals – replacing annual depletion 145,000m – scaling through MRMR growth – advance new discoveries 82,000m – unlock bulk-scale opportunities • 2026 drill plan – 145,000 metres •
Slide 20: Eagle River – Regional Targeting
Eagle River – Regional Targeting • Exploration targets announced in June 2026 at Eagle River represent a combined exploration potential of 1.5-3.4 million ounces • These targets define a structured, data-driven methodology with clear near-, medium-, and long-term catalysts Mishi Magnacon Size Potent
Slide 21: Eagle River – Regional Targeting with Artificial Intelligence
Eagle River – Regional Targeting with Artificial Intelligence Priority Areas • Feather River South • Mishi West • North of Mishi • Rook Lake West • Southeast portion of Cameron Lake Iron Formation Mishi Size Potential Exploration Priority Magnacon < 10 koz Tier 4 10 – 50 koz Tier 5 Tier 6 50 – 100 k
Slide 22: Eagle River – H1 2026 Underground Drilling
Eagle River – H1 2026 Underground Drilling 7 Zone Exploration 720F Zone 2 Zone Exploration 600 Zone 7 Zone Delineation Delineation 800 Zone 600 Zone Exploration Q1 2026 Diamond Drillholes 6 Central Exploration Q2 2026 Diamond Drillholes 711 Zone Falcon 311 Exploration YE 2025 Resource shapes 800 Zon
Slide 23: Kiena – H1 2026 Exploration Overview
Kiena – H1 2026 Exploration Overview • Exploration objectives mirror Eagle River YTD Drilling vs Guidance (m) Guidance YTD Actuals – replace at grade – convert and expand 125,000m – discover – bulk-tonnage opportunities 29,000m • 2026 drill plan – 125,000 metres • Kiena East targets being evaluated
Slide 24: Kiena - Norbenite Footwall Discovery
Kiena - Norbenite Footwall Discovery N134-7207 & N134-7207W1 Awaiting Results Plan View of Kiena Deep 6752W10 9.9g/t Au over 83.2m N134-7152W1 6.9g/t Au over 42.1m N134-7152 16.1g/t Au over 2.7m Projected Norbenite fault Norbenite Footwall corridor ZA Vein ZA1 Vein ZA2 Vein Footwall Veins BZ1, 2 & 5
Slide 25: Kiena – Additional Exploration Highlights
Kiena – Additional Exploration Highlights Presqu’ile Northwest Shawkey Mine Shawkey_22 -40m Martin Wish Z134 Dubuisson VC -1055m K_109 B Zone/ S50 H1 2026 - Delineation H1 2026 - Exploration Kiena Deep & Footwall Mineralization Mine Dev/Workings Norbenite Footwall -2035m 25
Slide 26: Q&A
Q&A
Slide 27: Appendix
Appendix
Slide 28: Eagle River – Q2 2026 Operating Highlights
Eagle River – Q2 2026 Operating Highlights Eagle River Operating Results Q2 2026 Q2 2025 % Change H1 2026 H1 2025 % Change Ore milled (tonnes) 72,439 48,623 49% 144,170 108,633 33% Head grade (g/t) 9.7 16.9 (42%) 11.1 16.2 (31%) Average mill recoveries (%) 96.2 96.7 (1%) 96.5 96.5 (0%) Gold producti
Slide 29: Kiena – Q2 2026 Operating Highlights
Kiena – Q2 2026 Operating Highlights Kiena Operating Results Q2 2026 Q2 2025 % Change H1 2026 H1 2025 % Change Ore milled (tonnes) 62,215 50,299 24% 117,165 98,989 18% Head grade (g/t) 11.1 10.7 4% 10.6 10.8 (2%) Average mill recoveries (%) 98.8 98.8 0% 98.8 98.8 0% Gold production (oz) 22,026 17,16
Slide 30: Consolidated Financial Highlights
Consolidated Financial Highlights In $000s, except per units and per share amounts Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Financial results Revenue2 266,764 299,793 914,325 287,875 230,284 208,548 187,618 Cash margin1 184,432 221,893 656,643 211,239 168,443 149,367 127,594 Net incom
Slide 31: Consolidated Operational Highlights
Consolidated Operational Highlights Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Ore milled (tonnes) Eagle River 72,439 71,731 257,448 77,240 71,575 48,623 60,010 Kiena 62,215 54,950 219,166 70,030 50,147 50,299 48,690 Throughput 134,654 126,681 476,614 147,270 121,722 98,922 108,700 Head
Slide 32: Modeling Considerations for the Full Year
Modeling Considerations for the Full Year Eagle River Kiena Consolidated Production Gold production (oz) 105,000 – 115,000 75,000 – 90,000 180,000 – 205,000 Grade (g/t) 11.5 – 12.5 8.0 – 9.5 10.0 – 11.0 Operating Costs & Expenses Depreciation and depletion ($M) $40 $60 $100 Corporate and general1 ($
Slide 33: Three-Year Outlook
Three-Year Outlook 2026 2027 2028 Gold Production (ounces) Eagle River 105,000 – 115,000 100,000 – 120,000 100,000 – 120,000 Kiena 75,000 – 90,000 85,000 – 100,000 85,000 – 110,000 Total Gold Production 180,000 – 205,000 185,000 – 220,000 185,000 – 230,000 All-in Sustaining Cost (US$/oz)1 1,525 - 1,
Slide 34: Investor Relations
Investor Relations Raj Gill SVP, Corporate Development & Investor Relations Trish Moran VP, Investor Relations Phone: +1 (416) 564-4290 Email: trish.moran@wesdome.com Careers @Wesdome Gold Mines Corporate Head Office 220 Bay St, Suite 1200 Toronto, ON Canada M5J 2W4