Endeavour Mining Plc · TSX:EDV
Endeavour Mining — Investor Presentation (November 2025)
165 slides from Endeavour Mining's investor presentation, November 2025
Slide 1: Corporate Presentation November 2025
CORPORATE PRESENTATION November 2025
Slide 2: Table of Contents
TABLE OF CONTENTS 1 Endeavour Overview 2 Financial Results and Outlook 3 Our High Quality Portfolio 4 Working as a Trusted Partner 5 West Africa Insights 6 Appendix 2
Slide 3: Disclaimer & Forward Looking Statements
DISCLAIMER & FORWARD LOOKING STATEMENTS Some of the indicators used by Endeavour in this presentation represent non-IFRS financial general economic conditions and the impact of credit availability on the timing of cash flows and the measures, including sustaining capital per ounce, non-sustaining ca
Slide 4: Endeavour Overview
ENDEAVOUR OVERVIEW 1 4
Slide 5: Endeavour Has an Unmatched Competitive Advantage
Dakar Senegal Mali SABODALA-MASSAWA Burkina Faso KAWSARA Bamako Ouagadougou ENDEAVOUR SIGUIRI HOUNDÉ MANA HAS AN UNMATCHED Guinea KALANA BANTOU Benin KOUTO COMPETITIVE ADVANTAGE IN ONE OF THE Sierra ASSAFOU LAFIGUÉ Togo Leone LARGEST AND MOST SAKASSOU ASSUÉFRY Ghana PROSPECTIVE Liberia ITY Côte d’Iv
Slide 6: Relative to Other Gold Producers
RELATIVE TO OTHER GOLD PRODUCERS CROSS SECTOR BENCHMARKING FY-2025 Production Guidance 7Moz 6Moz 5Moz 4Moz PEER 3Moz BENCHMARKING 2Moz 1Moz 0Moz IAMGOLD Barrick Newmont Kinross Agnico Eagle Harmony Eldorado Gold Fields Northern Star B2Gold Lundin Gold1 Centerra Alamos Anglogold Endeavour SSR Mining
Slide 7: Company Profile
COMPANY PROFILE Highlights Top shareholders Shareholder register as at 30 September 2025 Ticker LSE | TSX: EDV, OTXCQ: EDVMF Shares outstanding as at 31 October 2025 241m Rank Institution name % of S/O 1 BlackRock, Inc. 16.8 Share price as at 31 October 2025 £30.74 / C$56.19 2 La Mancha 14.7 Market
Slide 8: Our Strategy
OUR STRATEGY Build a resilient business and work as a trusted partner with the ability to reward shareholders MAINTAIN A WORK AS A REWARD HIGH-QUALITY PORTFOLIO TRUSTED PARTNER SHAREHOLDERS Investing in our people Empowering communities Managing our balance sheet prudently Delivering industry-leadin
Slide 9: Maintaining a High Quality Portfolio
MAINTAINING A HIGH QUALITY PORTFOLIO Build a resilient business and work as a trusted partner with the ability to reward shareholders Investing In Operational Portfolio Unlocking People Excellence Management Exploration KEY Developing local talent Delivering against Focused on large, low- Proven ran
Slide 10: Operating Model Prioritising Our People
OPERATING MODEL PRIORITISING OUR PEOPLE INVESTING IN PEOPLE Geographic focus provides a strong competitive advantage INSIGHTS › Largest producer in each of our operating countries enhances ability to extract synergies › Leading safety performance with a 0.05 LTM LTIFR compared to an Industry average
Slide 11: On Track to Meet Full Year Guidance
ON TRACK TO MEET FULL YEAR GUIDANCE OPERATIONAL EXCELLENCE Strong Q4-2025 performance expected 0.05 1.14 GROUP SAFETY LTIFR Last Twelve Months Industry Average1 TOP HALF of FY-2025 production 911 1,110 1,260 guidance range GROUP PRODUCTION2 koz YTD FY-2025 Guidance +$103/oz royalty impact 1,2594 AIS
Slide 12: Operational Excellence: Production Guidance Track Record
OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE Strong track record of achieving or beating guidance Production Guidance Track Record Production Guidance 1,536koz 1,400koz 1,365-1,495koz 1,315-1,400koz 1,130-1,270koz 11 years Out of last 12 beating or 1,066koz 1,072koz achieving production guidance 1,
Slide 13: Operational Excellence: All-In Sustaining Margin
OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE Strong all-in sustaining margins underpinned by low-cost production All-In Sustaining Margin Track Record All-In Sustaining Margin AISM (%) Realised Gold Price1 58% 58% 52% 53% 50% 50% $3,221/oz 48% 39% 40% 36% 28% All-In Sustaining Margin 19% 20% 18% $2
Slide 14: Organically Growing Production
ORGANICALLY GROWING PRODUCTION OPERATIONAL EXCELLENCE Production growth to 1.5Moz with class-leading costs Production from continuing operations Production from continuing operations 35% DELEVERAGING AND DEBT REDUCTION FUND GROWTH AND FUND GROWTH AND SHAREHOLDER RETURNS FOCUS DELIVER SHAREHOLDER RET
Slide 15: Strong Construction Track Record
CEO INTRODUCTION STRONG CONSTRUCTION TRACK RECORD OPERATIONAL EXCELLENCE Leveraging our in-house construction expertise TRACK RECORD HOUNDE 18 month LAFIGUÉ 21 month Delivered on-schedule in Construction Construction <24 months 2week 2month Ramp-up Ramp-up Delivered on or below budget 4.0mtpa 3.0mtp
Slide 16: Active Portfolio Management
ACTIVE PORTFOLIO MANAGEMENT PORTFOLIO MANAGEMENT An improved portfolio underpinned by high quality growth projects Portfolio Objectives Endeavour’s portfolio Current operations1 Projects Divested operations AISC, $/oz › Focus management efforts on long-life, low-cost assets 2,100 with production abo
Slide 17: Optimising Assets and Replenishing Pipeline
OPTIMISING ASSETS AND REPLENISHING PIPELINE PORTFOLIO MANAGEMENT Strong competition for capital on a returns basis across the portfolio OPTIMISING OUR MINERAL SIZER SOLAR POWER THROUGHPUT OPERATING PIT SHELL GRID POWER OPRIMITSATION OPTIMISATION PORTFOLIO Ity Mine Houndé Mine CRUSHER Lafigué Mine MO
Slide 18: Proven Ranking and Screening Methodology
PROVEN RANKING AND SCREENING METHODOLOGY UNLOCKING EXPLORATION Based on a methodology used in the oil and gas sector Outlook set in 2021 for the 5-year period ending 2025 Exhaustive Screened through multi- All screening based 150 criteria data analysis to targets on geological data targets set targe
Slide 19: Unlocking Exploration Value
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION 20.7Moz of M&I resources discovered since mid-2016 Total M&I resource discoveries M&I resources discovered 12 – 17Moz M&I resource discovery target (2021-2025) 1.9 Exploration spend Group M&I resource grade 20.7Moz Discovered 1.9Moz 4.0Moz Moz Discov
Slide 20: Unlocking Exploration Value: 5-Year Discovery Target
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION Achieved 5-year discovery target of 12 - 17Moz for period ending 2025 5-year M&I resource discovery target FY-2025 GUIDANCE M&I resource as at 31 December, 2020 Lafigué Assafou $1m $10m M&I resources discovered in 2021 - 2023 Mana Remaining Indicated
Slide 21: Fast Turnaround from Discovery to Production
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION Fast turnaround from discovery to production Houndé Mine Ity Mine Feasibility Commercial Feasibility Optimisation & Commercial Acquisition Study Permit Construction Production Acquisition Study Construction Production 2012 2013 2015 2016 2017 5 YEARS
Slide 22: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION PFS confirms Assafou’s potential as tier 1 asset for Endeavour Production profile Production (koz) AISC ($/oz) PRE-FEASIBILITY STUDY KEY METRICS 400 2,000 Target production of +350koz 350 329koz $892/oz +15year 4.1Moz 300 250 1,500 Production AISC
Slide 23: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION Developing a tier 1 mining complex INSIGHTS › Tier-1 discovery is expected to become the Group’s next 4.6Moz cornerstone asset › 4.6Moz resource outlined in approximately 2 years at a low discovery cost of $11 per Indicated ounce › DFS is on track
Slide 24: Unlocking Satellite Targets at Tanda-Iguela
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION Unlocking satellite targets at Tanda-Iguela W 9 Targets within 6km of Assafou +20km Assafou mineralisation strike length 24
Slide 25: Strong Free Cash Flow Generation
STRONG FREE CASH FLOW GENERATION Delivering on free cash flow inflection after completion of growth projects Free Cash Flow and Free Cash Flow per ounce Free Cash Flow FCF/oz1 $680m $ 746/oz Free Cash Flow per ounce $431m $362m YTD-2025 $407/oz $346/oz $130m $45m $61/oz $746/oz +$ 635m Free Cash Flo
Slide 26: Healthy Financial Position
HEALTHY FINANCIAL POSITION Leverage, net and gross debt improved during the quarter Evolution of leverage Net debt / LTM adjusted EBITDA 0.21x DELEVERAGING AND INCREASING SHAREHOLDER RETURNS After commissioning growth projects during Q3-2024 0.77x Net debt / LTM Adj. EBITDA as at 30 September 2025 0
Slide 27: Shareholder Returns Programme
SHAREHOLDER RETURNS PROGRAMME Delivering sector leading shareholder returns Shareholder returns programme Share buybacks Minimum dividend Returns Production Supplemental dividend Supplemental shareholder returns $66/oz $181/oz $212/oz $227/oz $251/oz $ 233m Returned to shareholders $299m YTD-2025 $2
Slide 28: Shareholder Returns Programme
SHAREHOLDER RETURNS PROGRAMME >$ 200 /oz expected in Q1-2026 Updated shareholder returns programme Cumulative shareholder Returned for every ounce of gold produced1 returns Supplemental Returns Supplemental Shareholder Returns Minimum Returns $1,180m $1,413m $ 1.4bn Returned to shareholders $640m2 s
Slide 29: Ability to Reward Shareholders Across Cycles
ABILITY TO REWARD SHAREHOLDERS ACROSS CYCLES Underpinned by a resilient business, disciplined capital allocation and a strong competitive advantage in West Africa RESILIENT BUSINESS + DISCIPLINED CAPITAL ALLOCATION High Quality Being a Prudent Balance Sheet Organic Shareholder Returns Portfolio Obje
Slide 30: Being a Trusted Partner
BEING A TRUSTED PARTNER Sustainability efforts underpin top ESG ratings Sustainalytics scores1 Low Endeavour MSCI rating evolution2 Severe 7% Medium Endeavour (2025) Endeavour (2024) 2024 AA 41% Gold Peer 22% Endeavour (2023) Risk Agnico Eagle Rating 2023 AA Polymetal 30% Eldorado High Newmont 2022
Slide 31: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 2 31
Slide 32: Q3 & YTD-2025 Highlights
Q3 & YTD-2025 HIGHLIGHTS Delivering against our strategic objectives Operational Advancing Delivering Performance Organic Growth Exploration Success YTD-2025 2025 Guidance Environmental permit $72m spend in YTD-2025 with over approved in Q3-2025 251km drilled Production 911koz 1,110 – 1,260koz +$103
Slide 33: On Track to Achieve Full Year Guidance
ON TRACK TO ACHIEVE FULL YEAR GUIDANCE Solid operating performance in line with the mine sequence Production and All-In Sustaining Margin Production, koz All-In Sustaining Margin, US$/oz Q3-2025 production impacted Realised by the wet season and lower 42koz Gold Price1 363koz grade profiles, in line
Slide 34: Financial Highlights
FINANCIAL HIGHLIGHTS Solid operational and financial performance in Q3-2025 QUARTER ENDED 30 Sep 30 Jun 30 Sep Q3-2025 vs. 2025 2025 2024 Q2-2025 33% (in $ million unless otherwise stated) OPERATIONAL HIGHLIGHTS (14%) Gold Production, koz Gold Sold, koz 264 258 306 304 270 280 (15%) + Total Cash Cos
Slide 35: Adjusted EBITDA
ADJUSTED EBITDA Adj. EBITDA remains robust Adj. EBITDA Adj. EBITDA Realised Gold Price1 16% $613m $546m $556m - $466m Adj. EBITDA Q3-2025 vs Q2-2025 $317m 466m $ Adj. EBITDA $2,342/oz $2,590/oz $2,783/oz $3,150/oz $3,247/oz In Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 1) The realised gold pric
Slide 36: Operating Cash Flow
OPERATING CASH FLOW Improved operating cashflow during Q3-2025 Operating cash flow and tax payments Operating cashflow Cash tax payments Realised 56m Gold Price1 $39m +$ $17m Operating cash flow $233m Q3-2025 vs Q2-2025 $67m $65m $494m $255m $381m $252m $308m + 22% Operating cash flow Q3-2025 vs Q2-
Slide 37: Operating Cash Flow Bridge
OPERATING CASH FLOW BRIDGE Improved operating cashflows due to lower taxes and higher gold prices INSIGHTS Operating cash flow bridge 1. The realised gold price, inclusive of realised losses on gold hedges as part of the Group’s Revenue Protection Programme, increased by $41m $308m $97/oz from $3,15
Slide 38: Free Cash Flow
FREE CASH FLOW Strong free cash flow generated since completion of growth projects Free Cash Flow Operating Cashflow Free Cash Flow Investing Cashflow $381m $494m +$ 62m Free Cash Flow $409m $308m Q3-2025 vs Q2-2025 $255m $252m $268m $97m $166m ($113m) ($85m) $104m ($148m) ($143m) 629/oz $ Free Cash
Slide 39: Net Earnings from Operations
NET EARNINGS FROM OPERATIONS Continued strong adjusted earnings INSIGHTS 3 MONTHS ENDED 1. The loss on financial instruments of $49m in Q3-2025 30 Sep 30 Jun (in $ million) A = Adjustments made for Adjusted Net Earnings included a $69m realised loss on the settlement of 50koz 2025 2025 of gold colla
Slide 40: Debt Structure
DEBT STRUCTURE Significant reduction in gross debt following full repayment of RCF Change in debt drawn INSIGHTS ($m) Interest Rate Maturity 30 Sep 2025 30 Jun 2025 30 Sep 2024 › Given strong free cash flow generation through H1- 2025, the Group repaid $472m on the RCF during Q3- $500m Senior Notes
Slide 41: Stable Credit Rating
STABLE CREDIT RATING S&P credit rating is capped by sovereign rating S&P long-term foreign currency debt credit ratings Cote d’Ivoire BB BB- Endeavour BB- S&P rating Senegal B- Stable Outlook across all Burkina Faso CCC+ jurisdictions 41
Slide 42: Short Term Revenue Protection Programme
SHORT TERM REVENUE PROTECTION PROGRAMME Increased certainty of cash flows during growth and debt reduction phases INSIGHTS Gold collars Gold price in US$/oz › In Q3-2025, approximately 50koz were 4,000.00 delivered into a collar with an average call price of $2,400/oz and an average put price 3,800.
Slide 43: Tackling Inflationary Pressures
TACKLING INFLATIONARY PRESSURES Stable cost base supporting improving margins INTERNAL FACTORS IMPACTING AISC EXTERNAL FACTORS IMPACTING AISC CONTRACTORS ROYALTIES Multiyear contracts in place ~20% ~22% Government royalty rates vary on mining contractors at Ity between 5 - 10% by country and and Man
Slide 44: FY-2025 Guidance
FY-2025 GUIDANCE FY-2025 FY-2025 Capital Expenditure Guidance YTD-2025 PREVIOUS UPDATED (All amounts in US$m) GUIDANCE GUIDANCE Production Guidance Houndé 28 40 40 Ity 21 20 25 (All amounts in koz, on a 100% YTD-2025 FY-2025 GUIDANCE Mana 70 60 75 basis) Sabodala-Massawa 37 60 45 Houndé 209 230 — 26
Slide 45: Our High Quality Portfolio
OUR HIGH QUALITY PORTFOLIO 3 45
Slide 46: Safety Performance
SAFETY PERFORMANCE Continued industry leading safety record LTIFR and hours worked Hours Worked (Millions, 12 month trailing basis) LTIFR (12 month trailing basis)1 42.4m 39.4m 38.0m 38.1m 39.4m 0.05 LTIFR in Q3-2025 0.13 0.12 0.05 0.05 0.05 No LTIs In Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025
Slide 47: Diversified Portfolio
DIVERSIFIED PORTFOLIO P&P RESERVES M&I RESOURCES 2024 Actuals 2025 Guidance as at 31 Dec 2024 as at 31 Dec 2024 ASSET COUNTRY PRODUCTION AISC PRODUCTION AISC CONTAINED GRADE CONTAINED GRADE (koz) (US$/oz) (koz) (US$/oz) GOLD (Moz) (g/t) GOLD (Moz) (g/t) Houndé Burkina Faso 288 1,294 230 – 260 1,225
Slide 48: YTD-2025 Performance vs Guidance
YTD-2025 PERFORMANCE VS GUIDANCE Group on track to achieve top half of production guidance with AISC in line OUTLOOK YTD-2025 Production vs Guidance OUTLOOK YTD-2025 AISC vs Guidance ON ON $975/oz $1,100/oz Ity YTD YTD TRACK TRACK 245koz 290 - 330koz $1,099/oz $1,225/oz $1,375/oz TOP ON Houndé YTD Y
Slide 49: Sabodala-Massawa Mine Snapshot
SABODALA-MASSAWA MINE Snapshot 250-280koz $1,100-1,250/oz 3.26Moz 5.19Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Sabodala-Massawa complex has potential to become a Construction of the Sabodala-Massawa expansi
Slide 50: Sabodala-Massawa Mine Overview
SABODALA-MASSAWA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • BIOX throughput optimisation targeting +10-15% Resources shown Tonnage Grade Content inclusive of Reserves (on a 100% basis) (Mt) (Au g/t) (Au koz) • Exploring for new high-grade CIL ore sources on newly
Slide 51: BIOX Recoveries and Grade Continue to Improve
SABODALA-MASSAWA MINE BIOX recoveries and grade continue to improve Q3-2025 vs Q2-2025 INSIGHTS Production and AISC1 Production, koz AISC, US$/oz 70koz 72koz › Production decreased slightly due to lower average 62koz 61koz grades processed. 54koz › AISC increased due to higher BIOX reagent consumpti
Slide 52: Overview of Sabodala-Massawa Technical Review
SABODALA-MASSAWA MINE Overview of Sabodala-Massawa technical review Reserves and resources Detailed review of eight non-refractory and refractory deposits, incorporating 317km of drilling across 7,300 additional grade- control drill holes, confirmed the tonnage, grade and endowment of all deposits u
Slide 53: No Change to Mineral Endowment
SABODALA-MASSAWA MINE No change to mineral endowment following internal and external review INSIGHTS Sabodala-Massawa Reserves & Resources N Non-refractory Tonnage Grade Content › The technical review evaluated the existing reserves N Kiesta OP R Refractory (Mt) (Au g/t) (Au koz) and resources (“R&R
Slide 54: Unlocking BIOX Throughput and Recoveries
SABODALA-MASSAWA MINE Unlocking BIOX throughput and recoveries INSIGHTS BIOX processing history Throughput, kt Recovery, % Q4-2024 recoveries BIOX Throughput: impacted by scheduled plant shutdowns to connect the 78.3% › Throughput is targeting 15% above design nameplate by Q1-2026. 75.3% solar power
Slide 55: Scoping Underway for High-Grade Underground Expansion
SABODALA-MASSAWA MINE Scoping underway for high-grade underground expansion INSIGHTS Underground reserves and resources As at 31 December 2024 › Feasibility level scoping work is underway to update the Tonnage Grade Content (kt) (Au g/t) (Au koz) Sabodala-Massawa underground mine plan. Total Sabodal
Slide 56: Near Term Exploration Focussed on High-Grade CIL Ore
SABODALA-MASSAWA MINE Near term exploration focussed on adding high-grade CIL ore INSIGHTS Sabodala-Massawa overview › Following success in the FY-2024 exploration campaign at Sabodala-Massawa, the Kiesta C and Soukhoto high grade, non-refractory deposits were incorporated into the mine plan and are
Slide 57: BIOX Flowsheet
BIOX FLOWSHEET Pebble crusher Primary crushing Refractory ore CIL Plant Flotation Ball mill Gravity SAG mill concentrator Tailings thickening Counter current decantation thickeners BIOX® reactors Regrind mill Neutralization CIL Cyanide Tailings storage destruction facility Elution Electrowinning Fur
Slide 58: CIL Flowsheet
CIL FLOWSHEET Pebble crusher Gravity concentrator Primary crushing Stockpile A SAG mill Ball mill -150+45mm Primary crushing Stockpile B Ball mill Secondary crushing Leach tanks Adsorption tanks Tailings storage Tailings thickening facility BIOX® Float tails Elution Electrowinning Furnace Gold bars
Slide 59: High Grade Reserves & Resources
HIGH GRADE RESERVES & RESOURCES Potential for significant additions given exploration potential Sabodala-Massawa reserves and resources by ore type OXIDE TRANSITIONAL FRESH TOTAL Tonnage Grade Content Tonnage Grade Content Tonnage Grade Content Content (kt) (Au g/t) (Au koz) (kt) (Au g/t) (Au koz) (
Slide 60: Sabodala-Massawa Exploration Strategy Overview
SABODALA-MASSAWA EXPLORATION STRATEGY OVERVIEW Targeting near-term non-refractory and longer-term refractory deposits DISCOVERY TARGET 2.3-2.7 Moz $26/oz 1 (2021-2025) Indicated resources Discovery cost 1 Exploration Strategy 1 Niakafiri Koulouqwinde Near-term Mamasoto 2 /Kiesta /Bambaraya 1 Product
Slide 61: Near Term Exploration Focus
EXPLORATION NEAR TERM EXPLORATION FOCUS Expanding non-refractory resources at Makana and Kawsara INSIGHTS › An exploration programme of $25m was planned for FY-2025, of which $22m has been spent YTD-2025 and $7m was spent in Q3-2025, consisting of 34,500 metres of drilling across 312 drill hole › Dr
Slide 62: Niakafiri West - Near-Term Production
NIAKAFIRI WEST - NEAR-TERM PRODUCTON Niakafiri West within 2km of the Sabodala processing plant 62
Slide 63: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Located 30km southeast of the Sabodala plant INSIGHTS › Kawsara is a 10km long anomaly that includes the Tama Toya and Sabodala Plant 30Km Sira targets. A › The anomaly was drilled in Q1- 2024, identifying a potentially large resource with near surface mineralisation that i
Slide 64: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants A A’ 64
Slide 65: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants B B’ 65
Slide 66: Massawa Underground – Long-Term Upside
MASSAWA UNDERGROUND – LONG-TERM UPSIDE Continuation of high-grade Massawa North Zone at depth 50 66
Slide 67: Ity Mine Snapshot
ITY MINE Snapshot 290-330koz $975-1,100/oz 3.55Moz 5.42Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Ity mine is one of Endeavour’s cornerstone assets. It has the The CIL plant was successfully built ahead of lo
Slide 68: Ity Mine Overview
ITY MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 Tonnage Grade Content • Continued inclusion of new discoveries, including Le Plaque, to Resources shown (Mt) (Au g/t) (Au koz) provide greater mining and processing flexibility. inclusive of Reserves (on a 100% basis)
Slide 69: Ity Mine: Lower Grades in H2-2025
ITY MINE Lower grades in H2-2025 in line with the mine sequence Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower average grades milled, partially offset by higher mill throughput, while recovery rates remained broadly consistent with Q2
Slide 70: Ity Exploration Strategy Overview
ITY EXPLORATION STRATEGY OVERVIEW Focussed on maintaining mine life above 10 years DISCOVERY TARGET 3.5-4.5 Moz $ 26/oz (2021-2025) Indicated resources Discovery cost Exploration Strategy 2 Ity Deeps Daapleu 1 Resource 1 Conversion West Le Plaque Flotouo Toulepleu Yopleu 1 Long-term 2 Additions Daap
Slide 71: Discovery Track Record
DISCOVERY TRACK RECORD Resource base continues to grow net of depletion M&I Resource additions versus depletion Cumulative depletion M&I resources2 +110% 7.8Moz 7.6Moz 8.9Moz 8.9Moz 6.9Moz 3.5Moz Defined gold 2.8Moz endowment 5.7Moz 5.9Moz 3.1Moz 5.3Moz 2.5Moz 5.2Moz 1.9Moz 2.1Moz 4.2Moz 1.5Moz 1.6M
Slide 72: Ity Resource Model
ITY RESOURCE MODEL Significant reserve and resource potential at the Ity Doughnut INSIGHTS 2023 Grand Ity reserve model1 2024 Grand Ity reserve model2 › Significant resource and Bakatouo NW reserve expansion at Ity, in close proximity to the processing plant. Processing Plant Zia Bakatouo › Added 1.
Slide 73: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on extending mineralisation at known deposits and greenfields on the Ity trend INSIGHTS › An exploration programme of $18.0 million was planned for FY-2025, of which $16.4 million was spent in YTD-2025 and $3.9 million was spent in Q3-2025 consisting of 9,300 met
Slide 74: West Flotouo
WEST FLOTOUO High grade discovery close to the Ity CIL plant 74
Slide 75: Le Plaque
LE PLAQUE Continuity demonstrated between Delta extension and Yopleu-Legaleu INSIGHTS Le Plaque exploration targets › The high grade Le Plaque deposit has been extended to the south towards Delta Extension and Le Plaque southwest. › Resource ore type is 77% fresh and the strip ratio is expected to b
Slide 76: Delta Extension
DELTA EXTENSION Mineralisation extends below pit shell 76
Slide 77: Walter-Bakatouo
WALTER-BAKATOUO Near mine low strip ratio resources added INSIGHTS Walter-Bakatouo selected drill holes › Walter-Bakatouo is located 1km east of the Ity CIL plant. › Drilling at the Walter-Bakatouo pit in 2023 intercepted high-grade mineralisation around the margins of the granodioriteintrusion in t
Slide 78: Gbampleu
GBAMPLEU New discovery is a promising target on the Toulepleu-Ity greenstone belt INSIGHTS Gbampleu selected drill holes › The Gbampleu discovery is located in the Toulepleu exploration permit (PR462), 22km south of the Ity plant. The prospect sits in the center part of the Toulepleu-Ity greenstone
Slide 79: Gbampleu
GBAMPLEU New discovery is a promising target on the Toulepleu-Ity greenstone belt 79
Slide 80: Houndé Mine Snapshot
HOUNDÉ MINE Burkina Faso 230-260koz $1,225-1,375/oz 2.64Moz 3.27Moz As at As at 2025 Guidance 2025 Target 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Houndé mine is one of Endeavour’s The goal is to delineate sufficient additional resources cornerstone
Slide 81: Houndé Mine Overview
HOUNDÉ MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Greater mining flexibility with multiple available ore sources Resources shown Tonnage Grade Content (Mt) (Au g/t) (Au koz) following stripping at Vindaloo and the incorporation of Kari Pump inclusive of Reser
Slide 82: Houndé: Lower H2-2025 Tonnes and Grades
HOUNDÉ MINE Lower H2-2025 tonnes and grades in line with the mine sequence Q3-2025 vs Q2-2025 INSIGHTS Production and AISC › Production decreased due to lower tonnes mined and Production, koz AISC, US$/oz milled due to the impact of the wet season and slightly 109koz lower grades processed in line w
Slide 83: Houndé Exploration Strategy Overview
HOUNDÉ EXPLORATION STRATEGY OVERVIEW Focussed on maintaining a +10 year mine life DISCOVERY TARGET 3.0-4.0 Moz $19/oz Indicated resources Discovery cost (2021-2025) 2 2 Exploration Strategy Resource Vindaloo Kari Area 1 Conversion Deeps Dossi Long-term Koho 1 2 Additions Sia Mambo Dohoun 1 TARGET SC
Slide 84: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on defining the high grade Vindaloo Deeps deposit INSIGHTS › An exploration programme of $7m was planned for FY-2025 but following success of the Vindaloo Deeps resource definition drilling programme in Q3-2025, activity has been accelerated, with total explorati
Slide 85: Vindaloo South and Deeps
VINDALOO SOUTH AND DEEPS Drill programme focussing on delineating mineralisation extensions INSIGHTS › During FY-2023, drilling below the Vindaloo deposit identified two additional mineralised zones at depth, confirming the potential to delineate a sizeable, high-grade underground resource. › This V
Slide 86: Vindaloo Deeps
VINDALOO DEEPS Mineralisation remains open at depth below the current pit shell 86
Slide 87: Mana Mine Snapshot
MANA MINE Burkina Faso 160-180koz $1,550-1,750/oz 0.68Moz 1.72Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Mana mine is located in the northern part Recent discoveries resulted in the development of of the high
Slide 88: Mana Mine Overview
MANA MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Mine life extensions through open pit and underground exploration Tonnage Grade Content Resources shown (Mt) (Au g/t) (Au koz) • Increasing development rates across three portals at Wona and one inclusive of Res
Slide 89: Mana: Improved Grades Expected in Q4-2025
MANA MINE Improved grades expected in Q4-2025 Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower grades processed, partially offset by higher tonnes of ore milled while 46koz recovery rates remained stable. 41koz 41koz 39koz › AISC increa
Slide 90: Mana Exploration Strategy Overview
MANA EXPLORATION STRATEGY OVERVIEW Focussed on extending mine life to +10 years DISCOVERY TARGET 1.0-1.5 Moz $30/oz (2021-2025) Indicated resources Discovery cost Exploration Strategy Resource Wona UG Siou UG 1 Conversion Long-term 2 Additions Nyafe Deep Fofina Deep 1 TARGET SCREENING Bubble size re
Slide 91: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on extending mineralisation at the Wona underground INSIGHTS Mana exploration map › An exploration programme of $3.0 million was planned for FY-2025, of which $3.2 million has been spent YTD-2025 and $0.5 million was spent in Q3- 2025, consisting of 1,300 metres
Slide 92: Lafigué Mine Snapshot
LAFIGUÉ MINE Côte d’Ivoire 180-210koz $950-1,075/oz 2.36Moz 2.90Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Lafigué project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities
Slide 93: Throughput Continues to Exceed Design Nameplate
LAFIGUÉ MINE Throughput continues to exceed design nameplate Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to a decrease in mill 60koz throughput and average grades processed, while recovery rates remained stable. 49koz 48koz › AISC increased
Slide 94: Long Life and Low AISC Operation
LAFIGUÉ MINE Long life and low AISC operation Lafigué production plan DFS Production DFS AISC 300koz 250koz $2,000/oz 203Koz $1,600/oz Average annual Target production of +200koz production over LOM 200koz $1,200/oz 150koz +33% $800/oz 100koz $400/oz 50koz Incremental production over the PFS 0koz Ye
Slide 95: Lafigué Exploration Overview
LAFIGUÉ EXPLORATION OVERVIEW Long-term potential to grow endowment Exploration Strategy 1 Near-term Central Area DISCOVERY TARGET 1.5-2.0 Moz 45/oz $ (2021-2025) Indicated resources Discovery cost DISCOVERY TARGET Medium- 2 (2021-2025) term Indicated Target 1 resources Target 4-12 Underground WA02 W
Slide 96: Lafigué Exploration Property
LAFIGUÉ EXPLORATION PROPERTY High priority targets to follow-up with over the first few years of production INSIGHTS Lafigué exploration map › An exploration programme of $5.0 million was planned for FY-2025, of which $0.5 million was spent in YTD-2025. The exploration programme is focused on prepar
Slide 97: Lafigué North
LAFIGUÉ NORTH Section 320205 97
Slide 98: Lafigué Center
LAFIGUÉ CENTER Section 319830 98
Slide 99: Assafou Project
ASSAFOU PROJECT Côte d’Ivoire 329koz $892/oz 4.1Moz 4.6Moz As at As at First 10 years First 10 years 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Assafou project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities of the
Slide 100: Assafou Project PFS Economics
ASSAFOU PROJECT Côte d’Ivoire ASSAFOU PROJECT PFS ECONOMIC SENSITIVITY ASSAFOU PROJECT PFS SUMMARY OPERATION TYPE Gold Price $1,500/oz $1,900/oz $2,000/oz $2,500/oz Mine type Open Pit PRE-TAX Plant type 5.0Mtpa Gravity / CIL Plant NPV5%, $m 860 1,882 2,148 3,408 RESERVES & RESOURCES1 IRR, % 18 31 34
Slide 101: Assafou Project: Tanda-Iguela Property
ASSAFOU PROJECT Tanda-Iguela Property, Côte d’Ivoire 101
Slide 102: Assafou Project
INSIGHTS › PFS, based on 31 October 2023 cut-off was completed in December 2024. › Definitive Feasibility Study ("DFS") was immediately launched with key updates ASSAFOU PROJECT Côte d’Ivoire on critical path items outlined below: › Lycopodium, the lead consultant for the DFS and Endeavour’s EPC or
Slide 103: Assafou Project
INSIGHTS › 4.6Moz Indicated resource outlined in approximately two years after discovery at a low discovery cost of $11 per indicated ounce ASSAFOU PROJECT Côte d’Ivoire › Tanda-Iguela property has the potential to become another cornerstone asset for Endeavour › Assafou deposit is amenable to open
Slide 104: Assafou - Pala Intersection
ASSAFOU - PALA INTERSECTION Unlocking satellite targets at Tanda-Iguela Assafou – Pala Trend 3 section A Pala Trend 3 Assafou A’ +900m Identified mineralised strike at Pala Trend 3 <1km INSIGHTS Distance from Assafou › Pala Trend 3 is a near-surface Brimian greenstone hosted target identified over a
Slide 105: Assafou Deposit
ASSAFOU DEPOSIT Mineralisation towards the northwest added to the November 2023 pit shell Cross Section 3133: Resources extended to the northwest outside of the November 2022 resource pit shell 105
Slide 106: Assafou Deposit
ASSAFOU DEPOSIT Mineralisationn intersected below November 2023 pit shell Cross Section 2933: Infill drilling in the northwest of Assafou extended resources at depth 106
Slide 107: Assafou Deposit
ASSAFOU DEPOSIT High grade and thickness of main mineralised lense with additional lenses added near surface Cross Section 2333: Infill drilling identified shallow mineralisation in the southwest of the deposit 107
Slide 108: Assafou Deposit
ASSAFOU DEPOSIT Continuity of main mineralised lense with further mineralisation intersected at depth Cross Section 1933: Infill drilling in the centre of the deposit extended resources at depth 108
Slide 109: Assafou Deposit
ASSAFOU DEPOSIT Additional resources added close to surface in the southeast part of the deposit Cross Section 1766: Infill drilling has added additional resources close to surface and at depth 109
Slide 110: Assafou Deposit
ASSAFOU DEPOSIT Indicated resource extended southeast along strike Cross Section 0533: Drilling has extended resources southeast of the November 2022 resources 110
Slide 111: Assafou Deposit
ASSAFOU DEPOSIT Indicated resource extended southeast along strike Cross Section 0933: Drilling has extended resources southeast of the November 2022 resources 111
Slide 112: Koulou Gold Investment
INSIGHTS › Endeavour has strategically invested $6.8m in Koulou Gold for a 19.07% ownership stake, through two KOULOU GOLD INVESTMENT Côte d’Ivoire investments on 29 May 2024 and 12 March 2025. Koulou Gold has three high priority projects: Assuéfry project › The Assuéfry property is located immediat
Slide 113: East Star Resources Joint Venture
INSIGHTS › Expanding the long-term organic growth pipeline by leveraging early-stage exploration companies operating in highly prospective, immature, gold provinces. EAST STAR RESOURCES JOINT VENTURE Kazakhstan › On 25 October 2025, Endeavour signed a partnership-style joint venture (“Joint Venture”
Slide 114: Kalana Project
QUICK FACTS (100% BASIS) based on 2021 PFS RESERVES AND RESOURCES as at 31 December 2024 Ownership 80% EDV Mine Type Open Pit Tonnage Grade Content Resources shown (Au koz) KALANA PROJECT (Mt) (Au g/t) inclusive of Reserves (on a 100% basis) Mali Mill Type 3.0Mtpa Gravity / CIL Plant LIFE OF MINE PR
Slide 115: Bantou Project
INSIGHTS › Acquired through Endeavour’s acquisition of SEMAFO in 2020 and currently consists of eight mineralised zones with diverse BANTOU PROJECT mineralisation styles and grades within the prolific Houndé Burkina Faso Greenstone Belt › The Inferred resource is comprised of three main areas with t
Slide 116: Greenfield Siguiri Licenses
116 GREENFIELD SIGUIRI LICENSES Guinea
Slide 117: Working as a Trusted Partner
Watch video WORKING AS A TRUSTED PARTNER 4 117
Slide 118: Our Purpose Is to Produce Gold That Provides Meaningful Value
OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES MEANINGFUL VALUE TO PEOPLE AND SOCIETY We achieve this by... ENVIRONMENT SOCIETY GOVERNANCE Climate change Economic development Respect for human rights Education Zero harm & employee Water stewardship well-being Biodiversity Health Diversity and inclusio
Slide 119: 2024 Sustainability Report Highlights
WORKING AS A TRUSTED PARTNER 2024 Sustainability Report highlights continued sector leading ESG performance 2024 SUSTAINABILITY REPORT HIGHLIGHTS $2.2B 0.63 tCO2E/oz 0.13 Economic Contribution Class-leading Lost Time Injury to host countries emissions intensity Frequency Rate ISO 45001 $1.4B 632ha &
Slide 120: Continuous Improvement in ESG Ratings
CONTINUOUS IMPROVEMENT IN ESG RATINGS Reflecting increased transparency, disclosure and engagement C+ Severe AA AA AA AA C A Medium C- C- BBB Low Low 2019 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 B 62 54 B- 53 54 49 C C C 45 42 39 D- 2019 2020 2021 20
Slide 121: Towards Net Zero
TOWARDS NET ZERO INSIGHTS TARGETS › Net Zero ambition for Scope 1 and 2 emissions by 2050 Emissions Intensity target of 2025 › Medium-term target: 30% reduction in Scope 1 and 2 intensity by 2025 <600tCO2e/oz › These targets are aligned with the Paris Agreement (< 2°C global warming) 30% reduction i
Slide 122: Energy Sources
ENERGY SOURCES SNAPSHOT OF OUR POWER SOURCES AND OPPORTUNITIES Senegal Côte d’Ivoire Burkina Faso Country Profile Country Profile Country Profile • 79% Fossil, 21% Renewables (Solar, Wind, Hydro) • Well-developed national infrastructure • 68% Imported, 32% Domestic Production Mines & Main Power Sour
Slide 123: Water Stewardship
WATER STEWARDSHIP Water stress index INSIGHTS › Our approach is to use water as efficiently as possible Low <10% › We pay for the water we withdraw as part of our water permits Low-Medium 10-20% › Water withdrawal intensity for the Group Medium-high increased to 11.8 KL/oz due to increased water 20-
Slide 124: Responsible Tailings Management
RESPONSIBLE TAILINGS MANAGEMENT INSIGHTS Endeavour’s TSFs › Conduct regular internal and external audits, results are reported back to senior management and the Board. › We support the Global Industry Standard on Tailings Management (GISTM) and are working towards alignment. › Annual tailings disclo
Slide 125: Protecting the Environment
PROTECTING THE ENVIRONMENT INSIGHTS TARGETS › We are committed to protecting and conserving nature and biodiversity. Protect 540 hectares and rehabilitate 150 2025 › Our Environmental policy includes a commitment to No Net Loss of Critical Habitat. hectares Group-wide › In 2024 we recorded no critic
Slide 126: Creating Jobs & Upskilling Talent
CREATING JOBS & UPSKILLING TALENT Our workforce INSIGHTS Our employees, by origin Female employees Nationals Female contractors › Total workforce of 13,491 including 5,126 Local Communities Male employees employees & 8,365 contractors. Expatriates Male contractors › 40% of our General Managers are W
Slide 127: Boosting Host Economies
BOOSTING HOST ECONOMIES INSIGHTS FY-2024 Procurement budget FY-2024 Payments to governments National and Local suppliers Senegal › We prioritise in-country suppliers and the Foreign Suppliers Côte d’Ivoire development of domestic supply chains to Burkina Faso create employment opportunities. › We co
Slide 128: Community Engagement
COMMUNITY ENGAGEMENT Case study INSIGHTS › 1,925 community consultations held during 2024 › Range of income-generating activities in place, with a focus on the youth and women › 256 grievances received in 2024, an increased of 45% compared to the 177 received in 2023, largely due to issues regarding
Slide 129: Education
EDUCATION INSIGHTS › Education is a key priority for Primary Secondary University Internships Endeavour, unlocking socio- School School economic opportunities for members of our host communities. 46 Birth Certificates Lvolution Academy University 856 Job Experience Supporting disabled & (site initia
Slide 130: Targeting Zero Harm
TARGETING ZERO HARM INSIGHTS Lost time injury frequency (LTIFR) All injury frequency rate (AIFR) › Reported 0.73 TRIFR, well below industry -50% -25% benchmark. 0.26 3.66 3.47 › Achieved ISO 45001 and ISO 14001 0.20 2.77 2.86 2.74 certification. 0.13 › Malaria incidence rate reduced 36% to 184 follo
Slide 131: Diversity & Inclusion
DIVERSITY & INCLUSION INSIGHTS Female representation at Endeavour › Employment of women in mining in West Africa +33% remains a relatively new, predominantly due to historical perceptions of the industry and cultural 12% traditions. 11% › We are addressing this bias by actively promoting gender equa
Slide 132: Ethical Business
ETHICAL BUSINESS INSIGHTS TARGETS › Zero substantiated reports of bribery, corruption, human rights or modern slavery Implement Modern slavery supplier 2025 › Set out Group’s 3-year human rights roadmap self-certification › Achieved RGMP compliance across all our sites and corporate Audit effectiven
Slide 133: Governance Framework
GOVERNANCE FRAMEWORK THE BOARD ESG Committee Audit & Risk Committee Quarterly Executive Management Committee EVP PA, Security and Social Perf. EVP Operations & ESG Executive ESG SteerCo Quarterly Legal Working groups for Sector Specialists HSE HR Social Tech Supply Investor Public Performance Servic
Slide 134: Strong & Diverse Corporate Governance
STRONG & DIVERSE CORPORATE GOVERNANCE Size of Board = 9 Nationalities represented on the Board Board experience by sector Strategy & Leadership International Business 8 6 1 Metals & Mining Finance & Accounting Public Policy Operations & Exploration Corporate Governance Sustainability & Non-Executive
Slide 135: West Africa Insights
WEST AFRICA INSIGHTS 5 135
Slide 136: West Africa's Competitive Advantage
Historically underexplored region; top region for gold discoveries over the last 15 years EXPLORATION WEST AFRICA'S COMPETITIVE Amongst the quickest permitting timelines globally as countries seek to attract investment ADVANTAGE PERMITTING Endeavour is strategically positioned with an unmatched comp
Slide 137: West Africa Ranks 1st for Discoveries
INDUSTRY EXPLORATION SPEND DISCOVERIES BY AREA For the period between 2010-2024 West Africa 70Moz Ecuador 39Moz Canada 37Moz Indonesia 33Moz WEST AFRICA RANKS USA 31Moz 1ST FOR DISCOVERIES Australia 30Moz Cote d’Ivoire 23Moz China 18Moz The region is significantly under-explored Burkina Faso 17Moz c
Slide 138: Endeavour Holds One of the Largest Land Tenement Holdings
UNDER-EXPLORED REGION ENDEAVOUR HOLDS ONE OF THE LARGEST LAND TENEMENT HOLDINGS IN WEST AFRICA 60% of greenstone belt lies in Burkina Faso and Côte d’Ivoire but… Mines Development Projects Advanced Exploration Birimian Greenstone Belt …only represents ~30% of production Endeavour has the largest lan
Slide 139: West Africa Is the 4th Largest Exploration Focus
GOLD INDUSTRY EXPLORATION BUDGET 2024 In US$ millions Canada Australia WEST AFRICA IS USA THE 4TH LARGEST West Africa Mexico $436m EXPLORATION FOCUS China ACROSS THE GLOBE Argentina Peru Côte d’Ivoire $118m Chile Given that exploration spend often Brazil Ghana foreshadows future production growth, E
Slide 140: Discovery to Production for Gold Mines
DISCOVERY TO PRODUCTION FOR GOLD MINES Average lead time to production since 1990 WEST AFRICA IS Oceania 19 yrs THE FASTEST JURISDICTION TO North America 17 yrs BUILD A MINE Given the importance of mining to West South America 16 yrs African economies, administrations are supportive of the extractiv
Slide 141: West African Projects Are Built Quicker, On-Time and On-Budget
PRODUCTION GOLD PROJECT CONSTRUCTIONS Based on 44 primary gold projects built since 2010 Project built on time & schedule Project missed budget or schedule WEST AFRICAN Latin America 7 projects 3.0 yrs PROJECTS ARE BUILT QUICKER, ON-TIME North America 10 projects 2.3 yrs AND ON-BUDGET Asia-Pacific 5
Slide 142: West African Projects Have Low Capital Intensity
PRODUCTION FOR THE REGION GOLD PROJECT CAPITAL INTENSITY Capital intensity calculated as development capital costs divided by M&I Resource as per the feasibility study $146/oz $147/oz WEST AFRICAN PROJECTS HAVE LOW $128/oz CAPITAL INTENSITY $118/oz $108/oz West African projects have the lowest capit
Slide 143: West Africa Is the Fastest-Growing Gold Region
REGION’S PRODUCTION GROWTH WEST AFRICAN PRODUCTION GROWTH Burkina Faso Côte d’Ivoire Mali Senegal Guinea Ghana Other1 % of Mine Supply WEST AFRICA Annual Production % of Global Production 16Moz 14% IS THE FASTEST- GROWING GOLD 14Moz 12% PRODUCING REGION 12Moz 10% 10Moz 8.5% compound annual 8% growth
Slide 144: West African Gold Production by Country
PRODUCTION FOR THE REGION WEST AFRICAN GOLD PRODUCTION BY COUNTRY FY-2024 gold production by country WEST AFRICA 15Moz IS THE LARGEST GLOBAL GOLD PRODUCING 12Moz REGION 11Moz 6 out of the top 10 senior gold producers 9Moz have a presence in West Africa, with Endeavour being the largest producer in 7
Slide 145: Favourable Mining Jurisdictions
PRODUCTION WEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU) FAVOURABLE MINING JURISDICTIONS Stable mining code and a well-balanced profit-sharing framework to encourage investment into the mining sector. WAEMU has adopted standardised tax principles across member countries, creating consistency that
Slide 146: Alignment of Mining Codes
ALIGNMENT OF MINING CODES Well-aligned mining codes across West Africa CÔTE D’IVOIRE BURKINA FASO SENEGAL Low High Rate Low High Rate Government 0 1,000 3.00% 0 1,000 3.00% Royalty rate at 1,000 1,300 3.50% 1,000 1,300 4.00% US$/oz gold 1,300 1,600 4.00% 1,300 1,500 5.00% price Flat 5% Royalty 1,600
Slide 147: The Senegalese Economy
GOLD PRODUCTION1, koz 712 694 SENEGAL SENEGAL 9% 581 612 561 604 SABODALA CAGR MASSAWA MAKABINGUI 408 THE SENEGALESE Mako DIAMBA SUD 262 289 303 306 361 ECONOMY BOTO 190 171 Birimian greenstone belt Endeavour Asset Senegal, has a reputation as Other Gold Asset Other Gold Project 2010 2011 2012 2013
Slide 148: The Ivorian Economy
Birimian greenstone belt Endeavour Asset TONGON GOLD PRODUCTION1, Moz Endeavour Project / Advanced Exploration CÔTE Other Gold Asset 16% 1.8 KONE 1.7 D’IVOIRE Other Gold Project LAFIGUÉ SEGUELA 1.5 ASSAFOU CAGR 1.3 YAOURE 1.1 ABUJAR THE IVORIAN 0.9 ITY MINE Yamoussoukro 0.8 0.8 0.8 0.7 BONIKRO ECONO
Slide 149: The Burkinabe Economy
Birimian greenstone belt Endeavour Asset GOLD PRODUCTION1, Moz INATA ESSAKANE Other Gold Asset BURKINA FASO Other Gold Project KARMA TAPARKO 8% 2.9 BOULY 2.7 BISSA CAGR 2.6 2.6 Burkina Faso BOMBORE 1.8 Ouagadougou 1.7 THE BURKINABE SANBRADO 1.5 BOUNGOU YARAMOKO MANA 1.3 1.3 1.2 KIAKA 1.1 ECONOMY HOU
Slide 150: Enhanced Security Platform Due to Scale in the Region
REGION’S PRODUCTION GROWTH ENHANCED SECURITY PLATFORM DUE TO SCALE IN THE REGION › Security unit structured as a business unit, led by ex-French military › Air strips on sites to avoid use of roads and improve operating efficiencies › Strong relationship with in-country security forces including: ›
Slide 151: Appendix
APPENDIX FT / 26 EEE f
Slide 152: Appendix 1: Management, Board, Corporate Structure & Remuneration Plans
01 APPENDIX 1 Management, Board, Corporate Structure & Remuneration Plans
Slide 153: Executive Management Team
EXECUTIVE MANAGEMENT TEAM Ian Cockerill Guy Young Djaria Traore Martin White Guénolé Pichevin CEO CFO EVP Operations & ESG EVP & Chief Technical EVP Strategy & Business • Joined in 2024 as CEO and in 2022 • Joined in 2023 • Joined in 2019 Officer Development as a Director • 25+ years experience in s
Slide 154: Board Members
BOARD MEMBERS Srinivasan Venkatakrishnan Ian Cockerill Alison Baker Livia Mahler Chair and Independent Executive Director Independent Independent Non-Executive Director Non-Executive Director Non-Executive Director John Munro Sakhila Mirza Naguib Sawiris Patrick Bouisset Cathia Lawson-Hall Independe
Slide 155: Corporate Structure
CORPORATE STRUCTURE Issuer Endeavour Mining plc Guarantor Non-Guarantor subsidiary 100% Mining License Endeavour Gold Corporation (Cayman) Restricted Group Exploration Permit 100% 100% 100% 100% 100% 100% Endeavour Canada Holdings Corporation Lafigue Holdings UK Limited Avnel Gold Mining Limited Ity
Slide 156: Short Term Incentive Plan
SHORT TERM INCENTIVE PLAN 2025 MEASURES WEIGHTING (%) THRESHOLD TARGET MAXIMUM Mine free cash flow1 15% Above low-end of guidance Mid-point of guidance Above high-end of guidance Production 15% Above bottom-end of Mid-point of guidance Beat high-end of guidance guidance AISC1 15% Within top end of G
Slide 157: Long Term Incentive Plan
LONG TERM INCENTIVE PLAN 2025 MEASURES WEIGHTING (%) THRESHOLD TARGET MAXIMUM TSR – Performance 25% Ranked 10th to 6th place Ranked 10th to 6th place Top 5 performers (Rank 1-20)1 Dividends2 25% $600m $648m $700m Net debt2 10% ≤0.5x ≤0.5x ≤0.3x Projects & Exploration 25% A drill programme executed T
Slide 158: Appendix 2: Mine Statistics & Additional Information
02 APPENDIX 2 Mine statistics & additional information
Slide 159: Mine Statistics: Quarterly
MINE STATISTICS On a quarterly basis ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 (on a 100% basis) Physicals Total tonnes mined – OP1 000t 7,949 7,844 7,761 12,718 13,490 9,567 — — —
Slide 160: Mine Statistics: Nine Months to September 2025
MINE STATISTICS Nine-months to 30 September 2025 (on a 100% basis) ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Physicals YTD-2025 YTD-2024 YTD-2025 YTD-2024 YTD-2025 YTD-2024 YTD-2025 YTD-2024 YTD-2025 YTD-2024 Total tonnes mined – OP1 000t 24,167 22,299 37,542 32,283 — 930 26,572 31,015 40,989 27,001
Slide 161: Appendix 3: Reserves and Resources, 5-Year Exploration Target
03 APPENDIX 3 Reserves and Resources, 5-year exploration target
Slide 162: Reserves and Resources
RESERVES AND RESOURCES As of 31 December 2024, on a 100% Basis Resources shown Tonnage Grade Content Resources shown Tonnage Grade Content Resources shown Tonnage Grade Content inclusive of Reserves (Mt) (Au g/t) (Au koz) inclusive of Reserves (Mt) (Au g/t) (Au koz) inclusive of Reserves (Mt) (Au g/
Slide 163: Notes to Reserves and Resources
NOTES TO RESERVES AND RESOURCES As at 31 December 2024 163
Slide 164: Exploration Methodology and Strategy
EXPLORATON METHODOLOGY AND STRATEGY Selection, ranking and risk evaluation of exploration targets Endeavour’s large land position (more than 17,000 sq Km) and comprehensive database over a very large number of exploration targets promotes the application of a general portfolio management theory wher
Slide 165: Contact Us
CORPORATE OFFICE 5 Young Street, London W8 5EH, United Kingdom T: +44 203 011 2723 OPERATIONS OFFICE Abidjan Office, Route du Lycée Technique, Abidjan, 08 BP 872 Abidjan 08, Côte d’Ivoire T: +225 27 22 48 99 00 CONTACT US investor@endeavourmining.com Follow us: TSX.EDV endeavourmining.com LSE.EDV 16
Endeavour Mining — Investor Presentation (November 2025) on 6ix