Mineros Sa · BVC:MINEROS
Mineros Sa — Q1 2026 Earnings Presentation
11 slides from Mineros Sa's earnings presentation, May 7, 2026
Slide 1: Results Q1 2026
BVC:MINEROS T SX:MSA OT CQX:MNSAF Results Q1 2026 HOSTED BY: Daniel Henao CEO Natalia Correa CFO Ann Wilkinson VP Investor Relations MAY 7, 2026
Slide 2: Cautionary Note
BVC: MINEROS TSX:M SA OTCQX: M NSAF Cautionary Note The information presented herein contains forward-looking statements; such information relates to future events, including the Company's performance, prospects and business opportunities. The projections may include, inter alia, the estimation of r
Slide 3: Q1 2026 Highlights: Financial, Operational and Strategic
BVC: MINEROS TSX:M SA OTCQX: M NSAF Q1 2026 HIGHLIGHTS: FINANCIAL, OPERATIONAL AND STRATEGIC F I N AN C I AL H I G H LIGH TS O P E R ATI O N AL H I G H LI G H TS S TR ATE G I C H I G H L I GH TS R E V E N U E — R E C O R D Q U AR T E R AU E Q P R O D U C T I O N PORVENIR PFS $292M 60,785 oz NPV $460
Slide 4: Outstanding Financial Results - Q1 2026
BVC: MINEROS TSX:M SA OTCQX: M NSAF OUTSTANDING FINANCIAL RESULTS - Q1 2026 REVENUES ADJUSTED EBITDA GROSS PROFIT $292M +82% $154M +116% $143M +122% 60,785 AUEQ Oz Revenue outpaced the 55% increase in $4,777 Average realized price 53% Margin EBITDA cost of sales NET PROFIT FREE CASH FLOW $88M +131%
Slide 5: Balance Sheet Strength
BVC: MINEROS TSX:M SA OTCQX: M NSAF BALANCE SHEET STRENGTH Cash & Equivalents Phisical Gold Position $44M $20M 4,376 AuOz Gold Backed Receivables Credit loans $153M $36M 27,247 AuOz Total Liquid Position $217 M Strong Net Cash Position with a net debt of $(8)M
Slide 6: Consistent Production
BVC: MINEROS TSX:M SA OTCQX: M NSAF CONSISTENT PRODUCTION +66% Average Sale Price Q1 2026 vs. Q1 2025 +10% AuEq oz Produced Q1 2026 vs. Q1 2025 The average selling price, the Cash Cost per ounce of gold sold, and the AISC per ounce of gold sold are non-IFRS financial measures. Non-IFRS financial mea
Slide 7: Operational Excellence – Q1 Results
BVC: MINEROS TSX:M SA OTCQX: M NSAF OPERATIONAL EXCELLENCE – Q1 RESULTS Colombian Operations Nicaraguan Operations Production: 20k Au oz Production: 38k Au oz AISC: $1,945/oz AISC: $2,340/oz Lost Time Freq: 0.96 Lost Time Freq: 0.13 Key Milestone: Gold recovery rate Mining Mix: 79% Bonanza Mining im
Slide 8: 2026 Guidance – On Track to Meet Guidance
BVC: MINEROS TSX:M SA OTCQX: M NSAF 2026 GUIDANCE – ON TRACK TO MEET GUIDANCE Consolidated Gold Production Consolidated AISC 213k - 233k Au oz $2,370-$2,470/oz Au Colombia Nicaragua 83k-93k Au oz 130k-140k Au oz AISC: $1,820-$1,920/oz Au AISC: $2,000-$2,100/oz Au CMP Margin 11% - 14% BMP Margin 39%
Slide 9: La Pepa, Chile - Update: Growth & Exploration Strategy
BVC: MINEROS TSX:M SA OTCQX: M NSAF LA PEPA, CHILE - UPDATE 2026 Exploration Program Growth & Exploration • • 7,000 m drilling program · USD 2.2M investment Target: Mineral Resource expansion & reserve growth Strategy • Program to commence Q2 2026 – permits in process Permitting & Environmental Stud
Slide 10: Porvenir Project - Environmental Permitting Achieved
BVC: MINEROS TSX:M SA OTCQX: M NSAF PORVENIR PROJECT - ENVIRONMENTAL PERMITTING ACHIEVED Environmental Certification for Porvenir Processing Plant and Tailings Storage Facility Received Main permits received. Final permits expected by Q4 2026 • New environmental permits secured: underground mining ·
Slide 11: BVC: MINEROS T SX : MSA OT CQX: MNSAF WWW.MINEROS.COM.CO
BVC: MINEROS T SX :MSA OT CQX:MNSAF WWW.MINEROS.COM.CO