Slide 1: Segovia Ramp-Up Driving Profitable Growth: Q3 2025 Earnings Results
Segovia Ramp-Up Driving Profitable Growth: Record Revenue, Cash Flow, and Adjusted Earnings Q3 2025 Earnings Results October 30, 2025 TSX: ARIS | NYSE-A: ARMN TSX: ARIS | NYSE-A: ARMN
Slide 2: Disclaimer
Disclaimer This presentation contains “forward-looking information” or “forward-looking statements” within the meaning of The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining Canadian securities legislation. All statements included herein, oth
Slide 3: Q3 2025 Highlights
Q3 2025 Highlights PRODUCTION GROWTH ROBUST FINANCIAL UNLOCKING DIVERSIFIED ON TRACK POSITION GROWTH GOLD PRODUCED GOLD REVENUE 73,236oz SOTO NORTE $253M Pre-feasibility Study completed in SEGOVIA ADJUSTED EBITDA1 September 2025 Steadily ramping-up production as expected $131M TOROPARU Preliminary E
Slide 4: Record Financial Performance in Q3 2025
Record Financial Performance in Q3 2025 ADJUSTED EARNINGS GOLD PER SHARE1 REVENUE $0.36 $253M Record adjusted net Up 27% from earnings of $72M Q2 2025 ADJUSTED CASH EBITDA ON HAND $131M $418M $352 million on trailing Up from $310 million at 12-months (LTM) June 30, 2025 August 2025: Celebrating Sego
Slide 5: Quarterly Cash Flow Summary
Quarterly Cash Flow Summary1 US$ millions Q3 2025 Q2 2025 Gold revenue2 $253.5 $200.2 Total cash costs, royalties & social contributions2 (117.3) (96.3) +36% AISC margin growth Sustaining capital (12.2) (12.7) All in sustaining margin $124.0 $91.2 Q2 included the 2024 Income 2 Taxes paid (13.2) (42.
Slide 6: Q3 2025 – Operational Performance
Q3 2025 – Operational Performance Segovia: Strong AISC Margin Growth ($ million) Q3 2025 TOTAL GOLD PRODUCTION Owner Mining AISC Margin CMP AISC Margin 73,236oz $121.5 $87.2 $38.4 Up 25% from Q2 2025 $58.3 $60.9 $29.4 $44.1 $32.2 $23.0 $23.9 Segovia: Q3 2025 Results $83.1 $21.0 $57.8 $18.1 $35.3 $37
Slide 7: Segovia: Steadily Ramping-up Production
Segovia: Steadily Ramping-up Production FY 2025 PRODUCTION GUIDANCE 2025 Gold Production & Processed Grade Gold Produced (oz) Processed Grade Au (g/t) 210 – 250 koz 100,000 80,000 9.37 9.85 9.87 10.00 Tracking about the midpoint based on gold 65,549 production YTD and outlook for Q4 2025 60,000 51,5
Slide 8: Marmato: Construction of Bulk Mining Zone
Marmato: Construction of Bulk Mining Zone MAIN DECLINE DEVELOPMENT SURFACE CONSTRUCTION ACTIVITES • The main decline is 34% complete • Bulk earthworks for the process plant platform have reached 95% completion, and the retaining wall is over 75% complete o 580 meters completed of full length of 1.7k
Slide 9: Soto Norte: One of the Most Attractive Gold Projects in the Americas
Soto Norte: One of the Most Attractive Gold Projects in the Americas Asset Overview SUMMARY OWNERSHIP • Large, low cost, long-life underground operation using proven and safe mining and processing methods • PFS outlines a project that balances scale, profitability, and 51% 49% ARIS MINING MUBADALA r
Slide 10: Soto Norte: Prefeasibility Study Results
Soto Norte: Prefeasibility Study Results1 Operational Project Parameters Key Financial Metrics PROCESSING CAPACITY AND MINE LIFE LOW AISC DRIVING STRONG PROFITABILITY & CASH FLOW GENERATION 3,500tpd 22 years $534/oz $410M MILL THROUGHPUT MINE LIFE2 AISC (LOM)2,3 AVERAGE ANNUAL EBITDA Including 750 t
Slide 11: Soto Norte: Responsible Development Approach
Soto Norte: Responsible Development Approach Ability to deliver significant long-term value for shareholders and for our community and government partners, while adhering to the highest standards of safety, water protection, and environmental management. Responsible Development COMMUNITY PROCESSING
Slide 12: Toroparu: Long-Life, Low-Cost Open Pit Gold Operation in Guyana
Toroparu: Long-Life, Low-Cost Open Pit Gold Operation in Guyana Asset Overview SUMMARY MINERAL RESOURCES • Large-scale, long-life open pit gold project with robust economics • Prefeasibility Study has been initiated, targeted for completion in 2026, with a goal of advancing toward construction 5.3Mo
Slide 13: Toroparu: Preliminary Economic Assessment Results
Toroparu: Preliminary Economic Assessment Results1 Operational Project Parameters Key Financial Metrics PROCESSING CAPACITY AND MINE LIFE COMPETITIVE AISC DRIVING STRONG PROFITABILITY & CASH FLOW GENERATION 7.0Mtpa 21.3 years $1,289/oz $443M MILL CAPACITY MINE LIFE AISC1 AVERAGE LOM ANNUAL EBITDA2 G
Slide 14: Capitalization Overview
Capitalization Overview x EBITDA 1 (US$ million) Current (adjusted) Price Yield Coupon Maturity Rating Cash2 418 Corp: B1 / B+ / B+ Gold-Linked Secured 7.5% Notes3 32 0.1x 211 n/a 7.500% 26-Aug-27 -- Senior Unsecured 8.000% Notes3 450 1.3x 103.866 6.836% 8.000% 31-Oct-29 B1 / B+ / B+ Total debt 482
Slide 15: Diversified Organic Growth Pipeline
Diversified Organic Growth Pipeline Annual Gold Mine / Project Catalysts Production Run-rate Colombia Near-term Growth from June 2025: Commissioning of second mill on time and within budget Producing Assets SEGOVIA ~300 koz H2 2025 / 2026: Tracking about the midpoint of our 2025 production guidance
Slide 16: Appendix
Oliver Dachsel – SVP, Capital Markets Appendix odachsel@aris-mining.com Lillian Chow – Director, Investor Relations & Communications info@aris-mining.com | www.aris-mining.com lchow@aris-mining.com TSX: ARIS | NYSE-A: ARMN
Slide 17: Q3 2025 Operating Performance
Q3 2025 Operating Performance Q3 2025 Q2 2025 Q3 2024 Consolidated Gold production increased 25% Gold produced (ounces) 73,236 58,652 53,608 from Q2 2025 Segovia Operations Tonnes milled (t) 219,550 167,960 166,868 Owner Mining AISC: $1,452/oz, towards the lower end of the FY Average tonnes milled p
Slide 18: Q3 2025 Financial Results
Q3 2025 Financial Results (in US$ millions, unless stated otherwise) Q3 2025 Q2 2025 Q3 2024 27% increase in gold revenue Gold revenue 253.5 200.2 131.6 compared to Q2 2025 driven by higher realized gold prices and higher sales volume Income from mining operations 122.7 92.0 38.0 EBITDA 96.5 31.5 27
Slide 19: Mineral Reserves & Resources
Mineral Reserves & Resources Property Proven Probable Proven & Probable Tonnes Gold grade Contained Tonnes (kt) Gold grade Contained Tonnes (kt) Gold grade Contained (kt) (g/t) gold (koz) (g/t) gold (koz) (g/t) gold (koz) Marmato 2,196 4.31 304 29,082 3.08 2,874 31,277 3.16 3,178 Soto Norte (51%) 1,
Slide 20: Technical Disclosure
Technical Disclosure Unless otherwise indicated, the scientific disclosure and technical information included in this presentation are based upon information included in the following documents and NI 43-101 compliant technical reports: 1. Technical report entitled “Technical Report for the Marmato