Endeavour Mining Plc · TSX:EDV
Endeavour Mining — Swiss Mining Institute Conference 2025
19 slides from Endeavour Mining's conference presentation, Mar 19, 2025
Slide 1: Swiss Mining Institute Conference
TSX & LSE: EDV OTCQX: EDVMF SWISS MINING INSTITUTE CONFERENCE Jack Garman – VP Investor Relations 19 March 2025 1
Slide 2: 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 3: Endeavour has an unmatched competitive advantage in one of the largest gold producing regions
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 3 1) All-In Sustaining Cost guidance assumes an average gold price of $2,000/oz and USD:E
Slide 4: West Africa is the largest & most prospective region for gold
EXPLORATION Top region for gold discoveries over the WEST AFRICA IS THE last 15 years globally LARGEST & MOST PROSPECTIVE REGION PERMITTING FOR GOLD Amongst the quickest permitting timelines globally Endeavour is strategically positioned with an unmatched competitive CONSTRUCTION advantage in the re
Slide 5: 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 6: Cross Sector Benchmarking: Peer Benchmarking
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: FY-2025 Guidance
FY-2025 GUIDANCE Increasing production and reducing capital expenditure to drive free cash flow 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 $1,350/oz FY-2025 Guidance CAPITAL FY-
Slide 8: Maintaining a High Quality Portfolio
MAINTAINING A HIGH QUALITY PORTFOLIO A resilient business that generates sufficient cash flow to reward our stakeholders Investing In Operational Portfolio Unlocking People Excellence Management Exploration KEY Developing local talent Delivering against Focused on large, low- Proven ranking PILLARS
Slide 9: Organically Growing Production
ORGANICALLY GROWING PRODUCTION Production growth to 1.5Moz while maintaining class leading margins Production from continuing operations Production from continuing operations +36% DEBT REDUCTION FUND GROWTH AND DELEVERAGING AND FUND GROWTH AND FOCUS DELIVER SHAREHOLDER RETURNS SHAREHOLDER RETURNS SH
Slide 10: Strong Construction Track Record
CEO INTRODUCTION STRONG CONSTRUCTION TRACK RECORD Leveraging our in-house construction expertise TRACK RECORD HOUNDE 18 month LAFIGUÉ 21 month Delivered on-schedule in Construction Construction <24 months 2week 2month Ramp-up Ramp-up Delivered on or below budget 4.0mtpa 3.0mtpa Nameplate Nameplate D
Slide 11: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE PFS confirms Assafou’s potential as tier 1 asset for Endeavour Production profile PRE-FEASIBILITY STUDY KEY METRICS Production (koz) AISC ($/oz) 400 2,000 Target production of +350koz 350 329koz $892/oz +15year 4.1Moz 300 250 1,500 Production AISC at $2,000/oz Life of
Slide 12: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE 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 Assafou delineation and p
Slide 13: Free Cash Flow
13 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 $
Slide 14: 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 15: Sector Leading Shareholder Returns Programme
15 SECTOR LEADING SHAREHOLDER RETURNS PROGRAMME Increasing commitment to shareholder returns following investment phase Shareholder returns programme share buybacks minimum dividend paid Returns Production supplemental dividend Supplemental Shareholder Returns $66/oz $181/oz $278m $212/oz $299m $227
Slide 16: Sector Leading Shareholder Returns
SECTOR LEADING SHAREHOLDER RETURNS Over $1.2bn or 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 Go
Slide 17: Unlocking Exploration Value
UNLOCKING EXPLORATION VALUE 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 3.5Moz 2.2Moz 1.3Moz 1.9
Slide 18: Key Priorities Across the Business
KEY PRIORITIES ACROSS THE BUSINESS Increasing cash flow to deliver enhanced shareholder returns Key priorities Key per ounce drivers of value creation Deliver production guidance of 1,110 – 1,260koz at AISC of OPERATIONS $1,150 – 1,350/oz De-lever the balance sheet to less than 0.5x leverage in the
Slide 19: 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 19
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