Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Q2 2025 Earnings Presentation
18 slides from Eldorado Gold's earnings presentation, Aug 1, 2025
Slide 1: Q2 2025 Results Conference Call
Q2 2025 RESULTS CONFERENCE CALL August 1, 2025 Skouries operations team – July 2025
Slide 2: Forward Looking Statement
Forward Looking Statement Definitions and Photos Capitalized terms used in this presentation but not otherwise defined herein have the meanings ascribed thereto in the Management’s Discussion and Analysis dated July 31, 2025 of Eldorado Gold Corporation for the three and six months ended June 30, 20
Slide 3: Non-IFRS Measures
Non-IFRS Measures Certain non-IFRS financial measures and ratios are included in this presentation, including total cash costs ($/oz sold), all-in sustaining costs ("AISC") ($/oz sold), adjusted net earnings, adjusted net earnings per share, adjusted EBITDA, cash flow from operating activities befor
Slide 4: Participants and Agenda
Participants and Agenda George Burns SECOND QUARTER 2025 OVERVIEW President & CEO Paul Ferneyhough FINANCIALS EVP & CFO Louw Smith OPERATIONS & PROJECTS: SKOURIES & EVP, Development, OLYMPIAS Greece Simon Hille EVP, Operations and OPERATIONS: LAMAQUE COMPLEX, Technical Services KIŞLADAĞ & EFEMÇUKURU
Slide 5: Q2 2025 Operations Update
Q2 2025 Operations Update Strong operational performance during Q2 2025: maintaining full year production guidance, expect to be at or above the high end of the cost guidance Q2 2025 2025 Guidance Total Cash Total Cash Asset Production (oz) AISC(1) ($/oz) Production (K oz) AISC(1) ($/oz) Costs(1) ($
Slide 6: Q2 2025 Highlights
Q2 2025 Highlights Strong Focus on Health, Safety & Sustainability HEALTH & SAFETY • LTIFR(1) of 0.95 in Q2 2025, increased from 0.40 in Q2 2024 Focus on preventing high potential incidents and further empowerment of our employees to promote a positive health and safety culture CANADA’S BEST • Compl
Slide 7: Financial Results: Q2 2025
Financial Results: Q2 2025 ($millions unless otherwise noted) Q2 2025 Q2 2024 YTD 2025 Gold Production Key Metrics 180 1,200 Gold produced (oz) 133,769 122,319 249,662 160 1,100 140 1,000 Gold sold (oz) 131,489 121,266 247,752 120 900 Revenue 451.7 297.1 807.0 Au koz 100 $/oz 800 Average realized go
Slide 8: Strong Financial Position
Strong Financial Position Focus on maintaining solid financial position providing flexibility to unlock value across our business Liquidity Position(1,2) (as of June 30, 2025) TOTAL LIQUIDITY: $1.13 billion Cash and cash equivalents + availability on senior secured credit facility 49 CASH & CASH EQU
Slide 9: Skouries: Recent Achievements
Skouries: Recent Achievements Skouries progressing to plan: First production expected in Q1 2026 and commercial production in mid-2026 Q2 2025 HIGHLIGHTS • Phase 2: 70% complete Mobilization of site personnel ramped up: ~1,730 personnel on site including 186 permanent Skouries operations personnel C
Slide 10: Skouries: Positioned to Deliver
Skouries: Positioned to Deliver Construction project capital invested since restart of construction to June 30, 2025: $705.7 million 2025: $400 to $450 million capital expected, in addition to $80 to $100 million in accelerated operational capital Q2 2025 HIGHLIGHTS (CONT’D) • Q2 2025 project capita
Slide 11: Skouries: Thickeners
Skouries: Thickeners Concrete works and mechanical installations for two (of three) thickeners are complete Concrete works and mechanical installations for two thickeners are complete. Work is advancing on the associated infrastructure with the pumphouse building structural and mechanical rough set
Slide 12: Skouries: Filtered Tailings Building
Skouries: Filtered Tailings Building Filtered tailings building: Structural steel installation is 75%(1) complete Filtered tailings plant facility overview, with tank farm progressing on the right and the foundation of the compressor building on the left To view a time lapse of the installation, ple
Slide 13: Skouries: Crusher Building
Skouries: Crusher Building Primary Crusher: concrete work advanced to the 2nd of three elevations; apron feeder and associated chutes installed; bottom shell of primary crusher pre-assembled, expected to be installed in August Primary Crusher installation – completion expected in September Close up
Slide 14: Olympias
Olympias Gold production during the quarter increased by 35% and total cash costs(1) decreased by 34% compared to Q1 2025 Q2 2025 HIGHLIGHTS • Q2 gold production of 15,978 oz at total cash costs(1) of $1,578/oz sold • Production in Q2 2025 benefited from: Sustained improvements in mining productivit
Slide 15: Kışladağ
Kışladağ Celebrated the four millionth ounce produced in May; cumulatively five million ounces have been produced in Türkiye Q2 2025 HIGHLIGHTS • Q2 gold production of 46,058 oz at total cash costs(1) of $1,133/oz sold • Production in Q2 2025 benefited from: Continued leaching of gold ounces stacked
Slide 16: Efemçukuru
Efemçukuru Inline quarter – production and cost Q2 2025 HIGHLIGHTS • Q2 gold production of 21,093 oz at total cash costs(1) of $1,335/oz sold • Gold grade, throughput, and production inline with expectations Q2 2025 2025 Guidance Gold Production 21,093 oz 70 – 80 K oz Total cash costs ($/oz sold)(1)
Slide 17: Lamaque Complex
Lamaque Complex Strong Q2 production driven partially by early processing of a portion of the second bulk sample at Ormaque Q2 2025 HIGHLIGHTS • Q2 gold production of 50,640 oz at total cash costs(1) of $721/oz sold • Production in Q2 2025 impacted by: Higher throughput in the quarter driven by earl
Slide 18: Eldorado Gold Continuing to Deliver Value Creation
Robust balance 43% increase in sheet to fully fund gold production by our growth 2027 from 2023 initiatives Eldorado Gold Continuing to Deliver Increasing On track to production, become one of disciplined cost the EU’s largest Value Creation control, strong metal prices reflected in copper producers