Slide 1: Corporate Presentation March 2025
CORPORATE PRESENTATION March 2025
Slide 2: Table of Contents
TABLE OF CONTENTS 1 Endeavour Overview 2 Financial Results and Outlook 3 Our High Quality Portfolio 4 Being 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
ENDEAVOUR HAS AN UNMATCHED COMPETITIVE ADVANTAGE IN ONE OF THE LARGEST AND MOST PRSOPECTIVE GOLD PRODUCING REGIONS 1 Largest 5 gold mines 1,110-1,260koz West African producer AISC $1,150-1,350/oz 2025 guidance1 5 1) All-In Sustaining Cost guidance assumes an average gold price of $2,000/oz and USD:E
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 Barrick Newmont IAMGOLD Eldorado Agnico Eagle Kinross Gold Fields Northern Star Lundin Gold1 Centerra Harmony B2Gold Anglogold Alamos Endeavour SSR Mining
Slide 7: 2024 Year in Review
2024 YEAR IN REVIEW OPERATIONAL ESG PERFORMANCE 1,103koz INITIATIVES Class-leading ESG ratings1 Production 2024 $1,058/oz Sustainability Total Cash Costs Report published $1,218/oz All-In Sustaining Costs $ 2.2bn Economic 0.13 contribution to host countries LTIFR TWO Organic growth projects delivere
Slide 8: Company Profile
COMPANY PROFILE Highlights Top shareholders Shareholder register as at 31 January 2025 Ticker LSE | TSX: EDV, OTXCQ: EDVMF Shares outstanding as at 3 March 2025 243m Rank Institution name % of S/O 1 La Mancha 17.9% Share price as at 3 March 2025 £15.74 / C$29.11 2 BlackRock Investment Management (UK
Slide 9: Our Purpose Is to Produce Gold That Provides Lasting Value to Society
OUR PURPOSE IS TO EMBEDDING THE UN SDGS INTO OUR ESG STRATEGY PRODUCE GOLD THAT PROVIDES LASTING VALUE TO SOCIETY We do so while protecting and promoting the places where we operate. Our work is a partnership, helping to create resilient and self-sustaining communities, where people are equipped wit
Slide 10: Our Strategy
OUR STRATEGY Build a resilient business and be a trusted partner with the ability to reward shareholders MAINTAINING A BEING A REWARDING HIGH-QUALITY PORTFOLIO TRUSTED PARTNER SHAREHOLDERS Class-leading operational excellence Environmental stewardship Prudent balance sheet management Proven project
Slide 11: Maintaining a High Quality Portfolio
MAINTAINING A HIGH QUALITY PORTFOLIO A resilient business that generates sufficient cash flow to reward our stakeholders Investing In Operational Portfolio Unlocking People Excellence Management Exploration KEY Developing local talent Delivering against Focused on large, low- Proven ranking PILLARS
Slide 12: 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 0.11 LTIFR1 compared to an Industry average of
Slide 13: FY-2025 Guidance
FY-2025 GUIDANCE OPERATIONAL EXCELLENCE Increasing production at stable costs and reducing capital expenditure 1,103koz FY-24 GROUP +14% 1,110koz 1,260koz PRODUCTION FY-2025 Guidance1 production growth based on $1,218/oz top-end of FY-2025 guidance FY-24 GROUP AISC2 $1,150/oz $1,350/oz FY-2025 Guida
Slide 14: Organically Growing Production
ORGANICALLY GROWING PRODUCTION OPERATIONAL EXCELLENCE Production growth to 1.5Moz with stable costs Production from continuing operations Production from continuing operations +36% DEBT REDUCTION FUND GROWTH AND DELEVERAGING AND FUND GROWTH AND FOCUS DELIVER SHAREHOLDER RETURNS SHAREHOLDER RETURNS S
Slide 15: Strong Adjusted EBITDA Generation
STRONG ADJUSTED EBITDA GENERATION OPERATIONAL EXCELLENCE Strong operating performance and gold prices support increased EBITDA generation Adjusted EBITDA from continuing operations1 Adj. EBITDA from continuing operations 1.3bn Realised +27% Gold Price $1,325m +$ $1,133m $1,027m $1,047m Adj. EBITDA i
Slide 16: Free Cash Flow Generation
FREE CASH FLOW GENERATION Increasing free cash flow generation following growth phase Free cash flow from all operations Operating Cashflow Free Cash Flow Investing Cashflow DEBT REDUCTION FOCUS $1,166m ABILITY TO FUND GROWTH AND DELIVER SHAREHOLDER RETURNS DELEVERAGING AND SHAREHOLDER RETURNS +$ 48
Slide 17: 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 18: Active Portfolio Management
ACTIVE PORTFOLIO MANAGEMENT PORTFOLIO MANAGEMENT An improved portfolio underpinned by high quality growth projects Key pillars Endeavour’s portfolio Current operations1 Projects Divested operations AISC, $/oz 2,100 1,950 Investing In Operational People Excellence Mana 1,800 1,650 1,500 Industry Wahg
Slide 19: 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 20: Largest Exploration Presence in West Africa
LARGEST EXPLORATION PRESENCE IN WEST AFRICA UNLOCKING EXPLORATION Endeavour has a strategic foothold in two of West Africa’s most prospective belts 60% of greenstone belt lies in Burkina Faso and Côte d’Ivoire but… …only represents ~30% of production since it is underexplored 20
Slide 21: 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 22: Unlocking Exploration Value
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION 21.4Moz of M&I resources discovered since mid-2016 Total M&I resource discoveries M&I resources discovered 12 – 17Moz M&I resource 2.2 Exploration spend discovery target (2021-2025) 21.4Moz Discovered 2.2Moz 3.6Moz Moz Discovered in 3.0Moz FY-2024 3.
Slide 23: Unlocking Exploration Value
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 M&I resources discovered in 2021 - 2023 Assafou Greenfield Remaining Indicated resource d
Slide 24: 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 PRE-FEASIBILITY STUDY KEY METRICS Production (koz) AISC ($/oz) 400 2,000 Target production of +350koz 350 329koz $892/oz +15year 4.1Moz 300 250 1,500 Production AISC
Slide 25: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION Confirmed potential to be a Tier 1 asset INSIGHTS › 4.6Moz resource outlined in approximately 2 years at a low 4.6Moz discovery cost of $11 per Indicated ounce › $16m spent in FY-2024 on over 60km of drilling, delivering encouraging results on Ass
Slide 26: Tanda-Iguela Greenfield Project
TANDA-IGUELA GREENFIELD PROJECT UNLOCKING EXPLORATION Unlocking satellite targets at Tanda-Iguela W 9 Targets within 6km of Assafou +20km Assafou mineralisation strike length 26
Slide 27: Robust Financial Position
ROBUST FINANCIAL POSITION Quickly deleveraging the balance sheet towards target leverage Evolution of leverage Net debt / LTM adjusted EBITDA 0.55x ABILITY TO FUND GROWTH AND DE-LEVERING AND INCREASING DELIVER SHAREHOLDER RETURNS SHAREHOLDER RETURNS Free cash flow inflection driving significant bala
Slide 28: 2024-2025 Shareholder Returns Programme
2024-2025 SHAREHOLDER RETURNS PROGRAMME Increasing commitment to shareholder returns following investment phase Supplemental returns expected to be paid if the gold INSIGHTS Shareholder returns programme price is above $1,850/oz and Endeavour maintains a healthy financial position Share Buybacks Min
Slide 29: 2024-2025 Shareholder Returns Programme
2024-2025 SHAREHOLDER RETURNS PROGRAMME >$ 200/oz Increasing commitment to shareholder returns following investment phase Cumulative shareholder Returned returns for every ounce of gold produced1 Buybacks Minimum Dividend Supplemental Dividend Supplemental Shareholder Returns +$1,419m $ 277m Shareho
Slide 30: Sector Leading Shareholder Returns
SECTOR LEADING SHAREHOLDER RETURNS Over 30% of market value returned to shareholders in four years 2021-2024 INDICATIVE YIELD 2024 INDICATIVE YIELD 2024 RETURNS PER OUNCE 0% 8% 16% 24% 32% 0% 1% 2% 3% 4% 5% 6% 7% $0/oz $100/oz $200/oz $300/oz Endeavour 31.6% B2Gold1 6.1% Newmont $282/oz Gold Fields
Slide 31: Ability to Reward Shareholders Across Cycles
ABILITY TO REWARD SHAREHOLDERS ACROSS CYCLES Underpinned by a resilient business, disciplined capital allocation and a strong competitive advantage in West Africa RESILIENT BUSINESS + DISCIPLINED CAPITAL ALLOCATION High Quality Being a Prudent Balance Sheet Organic Shareholder Returns Portfolio Obje
Slide 32: Being a Trusted Partner
BEING A TRUSTED PARTNER Sustainability efforts underpin top ESG ratings Sustainalytics scores1 Low Endeavour MSCI rating evolution2 Severe 7% Medium Endeavour (2025) Endeavour (2024) 2024 AA 41% Gold Peer 22% Endeavour (2023) Risk Agnico Eagle Rating 2023 AA Polymetal 30% Eldorado High Newmont 2022
Slide 33: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 2 33
Slide 34: Production and All-In Sustaining Cost
PRODUCTION AND ALL-IN SUSTAINING COST Increased production at improved AISC in Q4 Production and All-In Sustaining Costs Production, koz All-In Sustaining Cost, US$/oz 363koz Realised +93koz Gold Price1 280koz 270koz 251koz Production Q4-2024 vs Q3-2024 219koz $1,287/oz $1,287/oz $1,186/oz $1,141/oz
Slide 35: Financial Highlights
FINANCIAL HIGHLIGHTS Free cash flow continuing to grow in Q4-2024 QUARTER ENDED TWELVE MONTHS ENDED 31 Dec 30 Sept 31 Dec 31 Dec 31 Dec Q4-2024 vs. For Continuing Operations1 (in $ million unless otherwise stated) 2024 2024 2023 2024 2023 Q3-2024 50% OPERATIONAL HIGHLIGHTS Gold Production, koz 363 2
Slide 36: Adjusted EBITDA and EBITDA Margin
ADJUSTED EBITDA AND EBITDA MARGIN Increasing EBITDA generation at stronger margins Adjusted EBITDA from continuing operations1 Adj. EBITDA from continuing operations Adj. EBITDA Margin +72% Realised Gold Price2 $546m Adj. EBITDA Q4-2024 vs Q3-2024 $317m $292m $249m $213m +13pp 58% 50% 45% 45% 45% Ad
Slide 37: Operating Cash Flow
OPERATING CASH FLOW Strong operating cashflow following project ramp ups Operating cash flow from continuing operations1 Gold Prepayment $531m (Adj. Operating Operating cashflow from continuing operations Cash Flow) Realised Gold Price2 $150m Gold Pre-Payment +$ 279m Operating cash flow3 Q4-2024 vs.
Slide 38: Operating Cash Flow Bridge
OPERATING CASH FLOW BRIDGE Operating cashflows increased significantly net of pre-payment INSIGHTS Operating cash flow bridge 2 3 1. The realised gold price for continuing operations, inclusive of realised losses on gold hedges as part of the Group’s Revenue Protection Programme and LBMA averaging s
Slide 39: Tax Payments
TAX PAYMENTS Cash income and withholding tax payment outlook Group tax payments by year Minesite Tax Withholding Tax INSIGHTS FY-2023 FY-2024 › Income tax payments reflect the prior years $71m $341m $65m $17m $296m taxable earnings, while withholding tax payments reflect cash upstreaming in the $142
Slide 40: Free Cash Flow
FREE CASH FLOW Increasing free cash flow generation Free Cash Flow from all operations Gold Pre-payment Investing Cashflow Operating Cashflow Free Cash Flow $418m (adjusted for non-cash pre-payment reversal) +$ 321m Free Cash Flow (adjusted for non-cash pre-payment reversal) Q4-2024 vs. Q3-2024 $255
Slide 41: Change in Net Debt
CHANGE IN NET DEBT Improving net debt and leverage following growth phase INSIGHTS Change in net debt 1 1. Operating activities included $352m in $834m operating cashflow before changes in working capital and a $25m working capital 3 $732m inflow. 2. Investing cash outflows included $43m of sustaini
Slide 42: Net Earnings from Continuing Operations
NET EARNINGS FROM CONTINUING OPERATIONS Adjusted net earnings increased quarter on quarter INSIGHTS 3 MONTHS ENDED 1. The Group recognised a non-cash impairment of (in $ million) 31 Dec 30 Sept A = Adjustments made for Adjusted Net Earnings $200m in relation to the Kalana property and various 2024 2
Slide 43: Debt Structure
DEBT STRUCTURE Diversified long-term debt structure Senior Notes: Change in debt drawn › 5% fixed coupon rate senior notes mature in Oct-2026. ($m) Interest Rate Maturity 31 Dec 2024 30 Sept 2024 31 Dec 2023 Revolving Credit Facility: $370m $500m Senior Notes 5.00 % Oct 2026 500 500 500 › In Q4-2024
Slide 44: Stable Credit Rating
STABLE CREDIT RATING S&P credit rating is capped by sovereign rating S&P long-term foreign currency debt credit ratings Endeavour BB- BB- Cote d’Ivoire BB- S&P rating Senegal B+ Stable Outlook across all Burkina Faso CCC+ jurisdictions 44
Slide 45: Short Term Revenue Protection Programme
SHORT TERM REVENUE PROTECTION PROGRAMME Increased certainty of cash flows during growth and debt reduction phases INSIGHTS Gold collars Gold price in US$/oz Debt reduction › For Q4-2024, approximately 113koz were and shareholder delivered into a collar with an average call 2600 return focus price of
Slide 46: FY-2025 Guidance
FY-2025 GUIDANCE Capital Expenditure Guidance Production Guidance FY-2024 FY-2025 GUIDANCE (All amounts in US$m) Houndé 50 40 (All amounts in koz, on a 100% FY-2024 FY-2025 GUIDANCE basis) Ity 10 20 Mana 34 60 Houndé 288 230 — 260 Sabodala-Massawa 25 60 Lafigué 6 35 Ity 343 290 — 330 Corporate 2 — S
Slide 47: Our High Quality Portfolio
OUR HIGH QUALITY PORTFOLIO 3 47
Slide 48: Safety Performance
SAFETY PERFORMANCE Continued industry leading safety record LTIFR and hours worked Hours Worked (Millions, 12 month trailing basis) LTIFR (12 month trailing basis)1 0.13 44.0m 44.2m 42.3m 42.4m 39.4m LTIFR in Q4-2024 0.13 0.12 0LTIs 0.11 0.11 0.05 in Q4-2024 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q4-2024 1
Slide 49: Diversified Portfolio
DIVERSIFIED PORTFOLIO P&P RESERVES M&I RESOURCES 2024 Actuals 2025 Guidance as at 31 Dec 2024 as at 31 Dec 2024 ASSET COUNTRY PRODUCTION AISC PRODUCTION AISC CONTAINED GRADE CONTAINED GRADE (koz) (US$/oz) (koz) (US$/oz) GOLD (Moz) (g/t) GOLD (Moz) (g/t) Houndé Burkina Faso 288 1,294 230 – 260 1,225
Slide 50: Group Operating Performance by Asset
GROUP OPERATING PERFORMANCE BY ASSET Improved production at stabilised costs expected in FY-2025 Production, koz AISC, US$/oz 294koz 250-280koz 324koz 343koz 290-330koz 229koz $1,100 - $975 - $1,158/oz 1,100/oz 1,250/oz $919/oz $767/oz $809/oz Sabodala Ity Massawa 2023 2024 2025E Mine 2023 2024 2025
Slide 51: Reserve and Resource Evolution
RESERVE AND RESOURCE EVOLUTION Significant reserve additions at Assafou and Ity P&P reserve bridge1 +4.1Moz 18.4Moz 4.5Moz +1.2Moz (0.2Moz) (0.2Moz) 13.9Moz 0.0Moz (0.4Moz) + P&P reserves 2023-end Houndé Ity Mana Sabodala- Lafigué Assafou 2024-end FY-2024 vs FY-2023 Massawa M&I resource bridge1 (Inc
Slide 52: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Snapshot 250-280koz $1,100-1,250/oz 3.26Moz 5.19Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Sabodala-Massawa complex has potential to become a Construction of the Sabodala-Massawa expansi
Slide 53: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • BIOX throughput optimisation targeting +10-15% Resources shown Tonnage Grade Content inclusive of Reserves (on a 100% basis) (Mt) (Au g/t) (Au koz) • Exploring for new high-grade CIL ore sources on newly
Slide 54: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Sequentially higher production delivered through 2024 Q4-2024 vs Q3-2024 INSIGHTS Production and AISC1 Production, koz AISC, US$/oz 85koz › Production increased due to an increase in average 70koz grades processed and total tonnes milled, partially 57koz 54koz offset by a decre
Slide 55: Technical Review Underway
TECHNICAL REVIEW UNDERWAY Driving efforts to support the near-term mine plan INCREASING BIOX EXPLORING FOR NEAR- ACCELERATING THROUGHPUT MINE OXIDES UNGERGROUND MINING › Increase floatation throughput to increase › Prioritising exploration efforts to identify and › Accelerating the feasibility stage
Slide 56: 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 57: 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 58: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Solar power plant project on track for Q1-2025 INSIGHTS › As announced on 2 August 2023, Endeavour launched the construction of a 37MWp photovoltaic (“PV”) solar facility and a 16MW battery system, in order to significantly reduce fuel consumption and greenhouse gas emissions,
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 Focussed on adding high-grade, non-refractory resources into the CIL mine plan INSIGHTS › An exploration programme slightly above the guided $31m spend is expected for FY-2024, of which $31m has been spent year to date including $9m spent in Q3-2024 consisting
Slide 62: Kiesta
KIESTA High-grade intercepts at the Kiesta discovery are being delineated INSIGHTS › The Kiesta target is located along the Sabodala Shear Zone › The deposit is located in the north of the Massawa mining license, approximately 18 kilometers southeast of the Sabodala-Massawa processing plant › Follow
Slide 63: Niakafiri West - Near-Term Production
NIAKAFIRI WEST - NEAR-TERM PRODUCTON Niakafiri West within 2km of the Sabodala processing plant 63
Slide 64: Niakafiri West - Near-Term Production
NIAKAFIRI WEST - NEAR-TERM PRODUCTON Niakafiri West within 2km of the Sabodala processing plant 64
Slide 65: 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 Sabodala Plant 30Km targets A › The anomaly was drilled in Q1- 2024, identifying a potentially large resource with near surface mineralisation that is >1.5g/t
Slide 66: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants A A’ 66
Slide 67: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants B B’ 67
Slide 68: Massawa Underground – Long-Term Upside
MASSAWA UNDERGROUND – LONG-TERM UPSIDE Continuation of high-grade Massawa North Zone at depth 50 68
Slide 69: Ity Mine
ITY MINE Snapshot 290-330koz $975-1,100/oz 3.55Moz 5.42Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Ity mine is one of Endeavour’s cornerstone assets. It has the The CIL plant was successfully built ahead of lo
Slide 70: Ity Mine
ITY MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 Tonnage Grade Content • Continued inclusion of new discoveries, including Le Plaque, to Resources shown (Mt) (Au g/t) (Au koz) provide greater mining and processing flexibility inclusive of Reserves (on a 100% basis) P
Slide 71: Ity Mine
ITY MINE Record production in FY-2024 Q4-2024 vs Q3-2024 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production increased due to increased tonnes milled, 96koz partially offset by lower average grades processed and 86koz 84koz lower recovery rates. 74koz 77koz › AISC increased due to
Slide 72: Ity Mine
ITY MINE Overview Ity production plan 2025 Guidance mid-point Incremental production added 2017 Optimization Study 350koz 300koz Target production of 250koz over +10 years expected to be achieved based on exploration potential and further resource to reserve conversion 250koz 200koz 150koz 100koz 50
Slide 73: Ity Exploration Strategy Overview
ITY EXPLORATION STRATEGY OVERVIEW Focussed on maintaining minelife 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 Daapl
Slide 74: 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 75: 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 potential identified at Ity, in close proximity to the Processing Plant Zia Bakatouo process
Slide 76: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on extending mineralisation at known deposits INSIGHTS › An exploration programme of $11.4 million was undertaken in FY- 2024 consisting of 55,800 metres across 1,574 drill holes, of which $0.5 million was spent in Q4-2024 largely focused on desktop work and geol
Slide 77: West Flotouo
WEST FLOTOUO High grade discovery close to the Ity CIL plant 77
Slide 78: 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 79: Delta Extension
DELTA EXTENSION Mineralisation extends below pit shell 79
Slide 80: 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 granodiorite intrusion in t
Slide 81: 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 82: Gbampleu
GBAMPLEU New discovery is a promising target on the Toulepleu-Ity greenstone belt 82
Slide 83: Houndé Mine
HOUNDÉ MINE Burkina Faso 230-260koz $1,225-1,375/oz 2.64Moz 3.27Moz As at As at 2025 Guidance 2025 Target 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Houndé mine is one of Endeavour’s The goal is to delineate sufficient additional resources cornerstone
Slide 84: Houndé Mine
HOUNDÉ MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Greater mining flexibility with multiple available ore sources Resources shown Tonnage Grade Content (Mt) (Au g/t) (Au koz) following stripping at Vindaloo and the incorporation of Kari Pump inclusive of Reser
Slide 85: Houndé Mine
HOUNDÉ MINE High grade Kari Pump ore supported a strong Q4-2024 Q4-2024 vs Q3-2024 INSIGHTS Production and AISC › Production increased due to higher-grade material Production, koz AISC, US$/oz processed and increased tonnes milled, partially offset by 109koz lower recovery rates. › AISC decreased du
Slide 86: Houndé Mine
HOUNDÉ MINE Burkina Faso Houndé production plan 2025 Guidance mid-point Incremental production added 2016 Optimization Study 350Koz 300Koz Target production of 250koz over +10 years expected to be achieved based on exploration potential and further resource to reserve conversion 250Koz 200Koz 150Koz
Slide 87: 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 88: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on near mine exploration targets INSIGHTS › An exploration programme of $9.9 million was undertaken in FY-2024 consisting of 20,800 metres across 84 drill holes with $1.9 million spent in Q4- 2024 consisting of 1,700 metres of drilling across three drill holes. D
Slide 89: 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 90: Vindaloo Deeps
VINDALOO DEEPS Mineralisation remains open at depth below the current pit shell 90
Slide 91: Mambo
MAMBO Delineation of the Mambo discovery INSIGHTS Mambo geology and drilling intercepts › Mambo is an attractive deposit as it is expected to have a low strip ratio, the resource contains approximately 40% oxide and transitional material › The higher-grade portion (+2g/t) of the Mambo deposit is exp
Slide 92: Mana Mine
MANA MINE Burkina Faso 160-180koz $1,550-1,750/oz 0.68Moz 1.72Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Mana mine is located in the northern part Recent discoveries resulted in the development of of the high
Slide 93: Mana Mine
MANA MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Mine life extensions through open pit and underground exploration Tonnage Grade Content Resources shown (Mt) (Au g/t) (Au koz) • Increasing development rates across three portals at Wona and one inclusive of Res
Slide 94: Mana Mine
MANA MINE Strong Q4 performance as Wona underground portals ramp up Q4-2024 vs Q3-2024 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production increased due to higher average grades processed and higher tonnes milled, partially offset 42koz 41koz by lower recovery rates. 37koz 35koz ›
Slide 95: 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 96: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on non-refractory open-pit targets INSIGHTS Mana exploration map › An exploration programme of $2.8 million was undertaken in FY-2024 consisting of 11,000 metres across 362 drill holes, of which $0.8 million was spent in Q4-2024 consisting of 2,000 metres of dril
Slide 97: Lafigué Mine
LAFIGUÉ MINE Côte d’Ivoire 180-210koz $950-1,075/oz 2.36Moz 2.90Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Lafigué project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities
Slide 98: Lafigué Mine
LAFIGUÉ MINE Successfully ramped up to exceed nameplate capacity Q4-2024 vs Q3-2024 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production increased due to an increase in tonnes milled 60koz and average grades processed, while recoveries remained consistent. › AISC decreased due to i
Slide 99: Lafigué Flowsheet
LAFIGUÉ FLOWSHEET High Pressure Secondary Crushed Ore Stockpile Grinding Rolls crushing Stockpile Primary crushing Gravity Ball mill Concentrator Cyanide leach and Tails thickening Tailings storage Pre-leach thickening absorption facility Elution Electrowinning Furnace Gold bars 99
Slide 100: Lafigué Project
LAFIGUÉ PROJECT 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
Slide 101: 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 102: Fetekro Exploration Property
FETEKRO EXPLORATION PROPERTY High priority targets to follow-up with over the first few years of production INSIGHTS Fetekro Exploration permit select intercepts › An exploration programme of $2.5 million was undertaken in FY-2024 consisting of 10,500 metres of drilling across 87 drill holes, of whi
Slide 103: Lafigué North
LAFIGUÉ NORTH Section 320205 103
Slide 104: Lafigué Center
LAFIGUÉ CENTER Section 319830 104
Slide 105: 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 106: Assafou Project
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 107: Assafou Project
ASSAFOU PROJECT Tanda-Iguela Property, Côte d’Ivoire 107
Slide 108: Assafou Project
INSIGHTS › PFS confirms Assafou's potential to become a tier 1 asset for Endeavour › PFS demonstrates Assafou’s ability to deliver 329kozpa at AISC of $892/oz ASSAFOU PROJECT Côte d’Ivoire over the first ten years of operations, › Average production exceeding 350kozpa over an 8-year period once the
Slide 109: 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 110: Assafou - Pala Intersection
ASSAFOU - PALA INTERSECTION Unlocking satellite targets at Tanda-Iguela Assafou – Pala Trend 3 section A A’ +900m Identified mineralised strike at Pala Trend 3 Pala Trend 3 Assafou <1km INSIGHTS Distance from Assafou › Pala Trend 3 is a near-surface Brimian greenstone hosted target identified over a
Slide 111: 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 111
Slide 112: 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 112
Slide 113: 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 113
Slide 114: 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 114
Slide 115: 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 115
Slide 116: Assafou Deposit
ASSAFOU DEPOSIT Indicated resource extended southeast along strike Cross Section 0533: Drilling has extended resources southeast of the November 2022 resources 116
Slide 117: Assafou Deposit
ASSAFOU DEPOSIT Indicated resource extended southeast along strike Cross Section 0933: Drilling has extended resources southeast of the November 2022 resources 117
Slide 118: Koulou Gold Investment
INSIGHTS › Endeavour’s initial strategic investment of $2.7 million represents Kouto 12.39% ownership in Koulou Gold KOULOU GOLD INVESTMENT Côte d’Ivoire › Subsequently, on 12 March 2025 Endeavour exercised its equity participation rights and warrants in Koulou Gold for total gross proceeds of $4.1m
Slide 119: Kalana Project
KALANA PROJECT Mali QUICKFACTS (ON 100% BASIS) – 2021 UPDATED PFS RESERVES AND RESOURCES as at 31 December 2023 Ownership 80% EDV; 20% Mali government Mine Type Open Pit Tonnage Grade Content Mill Type 3.0Mtpa Gravity / CIL Plant Resources shown inclusive of Reserves (on a 100% basis) (Mt) (Au g/t)
Slide 120: 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 121: Greenfield Siguiri Licenses
121 GREENFIELD SIGUIRI LICENSES Guinea
Slide 122: Being a Trusted Partner
Watch video BEING A TRUSTED PARTNER 4 122
Slide 123: Our Purpose Is to Produce Gold That Provides Lasting Value to Society
OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES LASTING OURVALUE PURPOSETO IS TOSOCIETY PRODUCE GOLD THAT PROVIDES LASTING VALUE TO SOCIETY We achieve this by... Protecting and promoting the Helping to create resilient and Trusted to unlock the full benefits places where we operate self-sustaining comm
Slide 124: Being a Trusted Partner
BEING A TRUSTED PARTNER 2024 Sustainability Report highlights continued sector leading ESG performance 2024 SUSTIANABILITY 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 & ISO
Slide 125: Continuous Improvement in ESG Ratings
CONTINUOUS IMPROVEMENT IN ESG RATINGS Reflecting increased transparency, disclosure and engagement C Severe AA AA AA A C- C- Medium Low Low BBB 2019 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2025 B 62 53 B- 49 54 C C C 45 42 39 D- 2019 2020 2021 2022 2023 2024 2020 2
Slide 126: Towards Net Zero
TOWARDS NET ZERO INSIGHTS TARGETS › Endeavour has established ambitious targets, with our ultimate aim being to Emissions Intensity target of achieve Net Zero carbon emissions for Scope 1 and Scope 2 by 2050. We have also 2025 <600tCO2e/oz. set a medium-term target of reducing our Scope 1 and Scope
Slide 127: 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 128: 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 129: 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 disclosu
Slide 130: 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 critical
Slide 131: Creating Jobs & Upskilling Talent
CREATING JOBS & UPSKILLING TALENT Our workforce INSIGHTS Our employees, by origin Female employees Nationals › Total workforce of 13,491 including 5,126 Local Communities Female contractors employees & 8,365 contractors Male employees Expatriates Male contractors › 40% of our General Managers are We
Slide 132: 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 con
Slide 133: 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 134: 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 135: 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 followi
Slide 136: 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 equal
Slide 137: Ethical Business
ETHICAL BUSINESS INSIGHTS TARGETS › Zero substantiated reports of bribery, corruption, human rights or modern slavery Implement Modern slavery supplier 2024 › Set out Group’s 3-year human rights roadmap self-certification › Achieved RGMP compliance across all our sites and corporate Audit effectiven
Slide 138: Governance Framework
GOVERNANCE FRAMEWORK THE BOARD ESG Committee Audit Committee Quarterly Executive Management Committee EVP PA, Security and Social Perf. EVP ESG & Supply Chain Executive ESG SteerCo Quarterly Legal Working group Sector Specialists HSE HR Social Tech Supply Investor PA performance Services chain relat
Slide 139: 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 140: West Africa Insights
Watch video WEST AFRICA INSIGHTS 5 140
Slide 141: West Africa's Competitive Advantage
EXPLORATION Top region for discoveries over the last 15 years globally WEST AFRICA'S COMPETITIVE PERMITTING ADVANTAGE Amongst the quickest permitting timelines globally Endeavour is strategically positioned with an unmatched competitive CONSTRUCTION advantage in the region. Low capital intensity wit
Slide 142: Region's Production Growth
REGION’S PRODUCTION GROWTH WEST AFRICAN PRODUCTION GROWTH Burkina Faso Mali Guinea % of Mine Supply Côte d’Ivoire Senegal Ghana and Other WEST AFRICA 18Moz 16% IS THE FASTEST- GROWING GOLD 14% PRODUCING REGION 15Moz 12% West African Mine Supply (ounces) 12Moz Percentage of Global Mine Supply 10% +80
Slide 143: Production for the Region
PRODUCTION FOR THE REGION ANNUAL GOLD PRODUCTION BY REGION In millions of ounces, for 2022 16Moz WEST AFRICA IS THE LARGEST GLOBAL GOLD PRODUCING REGION 12Moz 10Moz 10Moz 6 out of the top 10 senior gold producers have a presence in West Africa, with Endeavour being the largest producer in the region
Slide 144: Endeavour Is the Dominant West African Gold Producer
PRODUCTION WEST AFRICAN GOLD PRODUCTION 2023 Endeavour 1.17 Moz ENDEAVOUR IS THE DOMINANT Newmont 0.97 Moz WEST AFRICAN Anglogold 0.71 Moz GOLD PRODUCER Gold Fields 0.70 Moz Barrick 0.68 Moz Endeavour has a strategic benefit from being geographically focused yet Kinross 0.62 Moz diversified across m
Slide 145: Gold Industry Exploration Budget 2023
GOLD INDUSTRY EXPLORATION BUDGET 2023 In US$ millions WEST AFRICA IS 1,378 THE 4TH LARGEST EXPLORATION FOCUS ACROSS THE GLOBE 1,058 Given that exploration spend often 837 foreshadows future production growth, West Africa has the potential to be an even larger producing region. 432 320 189 7.3% +$6.5
Slide 146: Industry Exploration Spend Discoveries by Area
INDUSTRY EXPLORATION SPEND DISCOVERIES BY AREA For the period between 2010-2023 67Moz WEST AFRICA RANKS 1ST FOR DISCOVERIES OVER PAST DECADE The region is significantly under-explored compared to other regions. 34Moz 33Moz 32Moz 27Moz 23Moz 67 21Moz 19Moz 18Moz 18Moz 15Moz Moz 14Moz 13Moz 12Moz 8Moz
Slide 147: 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… …only represents ~30% of production Endeavour has a strategic foothold in since it is two of West Africa’s most prospective belts underexp
Slide 148: 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 149: Gold Project Constructions
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 150: 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 $108/oz West African projects have the lowest capit
Slide 151: Favourable Mining Jurisdictions
PRODUCTION WEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU) FAVOURABLE MINING JURISDICTIONS Stable mining code and a well-balanced profit-sharing framework to encourage investment into the mining sector. WAEMU has adopted standardised tax principles across member countries, creating consistency that
Slide 152: Alignment of Mining Conventions
ALIGNMENT OF MINING CONVENTIONS Well-aligned mining conventions across West Africa CÔTE D’IVOIRE BURKINA FASO SENEGAL Low High Rate Low High Rate Government 0 1,000 3.00% 0 1,000 3.00% Royalty rate at 1,000 1,300 3.50% 1,000 1,300 4.00% US$/oz gold 1,300 1,600 4.00% 1,300 1,500 5.00% price Flat 5% R
Slide 153: 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 154: Appendix
APPENDIX FT / 26 Es f
Slide 155: Appendix 1: Management, Board & Corporate Structure
01 APPENDIX 1 Management, Board & Corporate Structure
Slide 156: 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 Endeavour in 2019 Officer Development as a Director • 25+ years exper
Slide 157: 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 158: Corporate Structure
CORPORATE STRUCTURE Guarantor of $500m senior notes and $700m RCF issued by Endeavour Mining PLC Issuer Endeavour Mining plc (UK) Guarantor of XOF 100.5B1 term loan issued by Operating Entity 100% Lafigué Holdings UK Limited Endeavour Mining Corporation (Cayman) Holding Company 100% Endeavour Gold C
Slide 159: Appendix 2: Mine Statistics & Additional Information
02 APPENDIX 2 Mine statistics & additional information
Slide 160: Mine Statistics
MINE STATISTICS On a quarterly year basis ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Q4-2024 Q3-2024 Q4-2023 Q4-2024 Q3-2024 Q4-2023 Q4-2024 Q3-2024 Q4-2023 Q4-2024 Q3-2024 Q4-2023 Q4-2024 Q3-2024 Q4-2023 (on a 100% basis) Physicals Total tonnes mined – OP1 000t 8,120 7,761 7,349 10,833 9,567 11,993 —
Slide 161: Mine Statistics
MINE STATISTICS On a full year basis ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ (on a 100% basis) FY-2024 FY-2023 FY-2024 FY-2023 FY-2024 FY-2023 FY-2024 FY-2023 FY-2024 FY-2023 Physicals Total tonnes mined – OP1 000t 30,419 27,891 43,116 47,680 930 6,001 43,478 45,943 37,151 — Total ore tonnes – OP 0
Slide 162: Appendix 3: Reserves and Resources, 5-Year Exploration Target
03 APPENDIX 3 Reserves and Resources, 5-year exploration target
Slide 163: 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 164: Notes to Reserves and Resources
NOTES TO RESERVES AND RESOURCES As at 31 December 2024 164
Slide 165: 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 166: TSX.EDV LSE.EDV
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