Slide 1: Fourth Quarter & Year-End 2023 Results
Unlocking Resources and Generating Value Unlocking Resources and Generating Value TO THRIVE TO THRIVE AND GROW TOGETHER AND GROW TOGETHER Fourth Quarter & Year-End 2023 Results TSX:DPMFebruary 15, 2024 TSX:DPM
Slide 2: Forward Looking Statements
Forwarding Looking Statements Certain statements and other information included in this presentation and our other disclosure documents constitute “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”). Forward Looking Statements are statements tha
Slide 3: Use of Non-GAAP Measures
Use of Non-GAAP Measures Certain financial measures referred to in this presentation are not measures recognized under IFRS and are referred to as Non-GAAP financial measures or ratios. These measures have no standardized meanings under IFRS and may not be comparable to similar measures presented by
Slide 4: 2023 Performance Highlights - David Rae
2023 Performance Highlights David Rae President & CEO TSX: DPM 4
Slide 5: 2023 Results Highlights
2023 Results Highlights Solid gold production and cost performance driving significant free cash flow Metals Production All-in Sustaining Cost1 Metals contained in concentrate produced ($ per ounce of gold sold) 270 - 315 Gold (K oz.) 296 Copper (M lbs) $876 $700 - $860 $849 77 31 30 - 35 8 5 5 Q4 2
Slide 6: Chelopech, Bulgaria
Chelopech, Bulgaria High-quality, low-cost flagship operation 2023 Highlights Metals contained in concentrate produced • Achieved 2023 gold and copper production Gold (K oz.) Copper (M lbs) 162 150 - 170 • Updated Mineral Resource and Mineral Reserve estimate and life of mine plan in November ▪ Mine
Slide 7: Ada Tepe, Bulgaria
Ada Tepe, Bulgaria Strong production and cost performance 2023 Highlights Metals contained in concentrate produced K oz. Au 120 - 145 • Achieved record annual gold production 134 • All-in sustaining cost of $500/oz., below low-end of guidance range 35 Brownfields exploration 5 Q4 2023 2023A 2023 Gui
Slide 8: Tsumeb, Namibia
Tsumeb, Namibia Undertaking a strategic review, including a potential sale of the smelter Strategic Review Complex concentrate smelted K tonnes 200 - 230 • Tsumeb is no longer seen as strategic to DPM’s asset portfolio 189 ▪ Ability to place Chelopech complex concentrate with other third- party faci
Slide 9: Čoka Rakita & Twin Hills: Two High-Quality Gold Discoveries
Čoka Rakita & Twin Hills: Two High-Quality Gold Discoveries Recent newsflow strengthen DPM’s growth pipeline Twin Hills project, Namibia Čoka Rakita project, Serbia Agreement to acquire Osino Resources High-grade growth project Subject to shareholder vote and Namibia Competition Act Strong 1.8Moz. A
Slide 10: Čoka Rakita Next Steps
Čoka Rakita Next Steps PEA targeted for Q2 2024 Next steps • PEA targeting throughput of 850,000 tonnes per annum • Stakeholder engagement and permitting activities • Additional metallurgical testwork • Aggressive exploration program planned for 2024: • 30,000 m of infill, hydrological and geotechni
Slide 11: Loma Larga Project (Ecuador)
Loma Larga Project (Ecuador) Potential to add low-cost production growth to our portfolio Feasibility study optimization • Underground gold-copper development project • Continuing with optimization phase beyond previous • Well-aligned with DPM’s core strengths: similar geology, mining and timeline e
Slide 12: Well-Positioned to Continue Delivering Value
Well-Positioned to Continue Delivering Value DPM’s strong fundamentals represent an attractive value opportunity Strong production & AISC Building our growth pipeline profile • Agreement to acquire advanced-stage Twin Hills project in Namibia • 240,000 Au oz. average annual production5 • Advancing h
Slide 13: 2023 Financial Results - Navin Dyal
2023 Financial Results Navin Dyal Executive Vice-President & CFO TSX: DPM 13
Slide 14: 2023 Financial Highlights
2023 Financial Highlights Continued strong earnings and free cash flow generation Generated robust free cash flow Returned capital to shareholders Strong financial position $228M $96M $595M cash balance as at Dec. 31 Financial Highlights $ millions except where noted, and all operational and Q4 2023
Slide 15: Key Cost Metrics and Capital Expenditures
Key Cost Metrics and Capital Expenditures Achieved all-in sustaining cost guidance All-in sustaining cost1 Sustaining capital expenditures Growth capital expenditures $ per ounce of gold sold $ millions $ millions $876 $849 $700 - $860 31.2 29.3 Expecting growth capital related to Loma Larga to be s
Slide 16: Three-Year Outlook
Three-Year Outlook Strong production profile, attractive all-in sustaining cost & significant free cash flow generation • DPM to provide update to three-year outlook following completion of the Osino acquisition, pending shareholder approval and Namibia Competition Act approval US millions, unless o
Slide 17: Track Record of Disciplined Capital Allocation
Track Record of Disciplined Capital Allocation Balancing financial strength, reinvestment and return of capital to shareholders Returning Capital to Shareholders Investing in our Future • 42% of free cash flow2 returned to shareholders • Twin Hills project in Namibia in 2023 Acquisition targeted to
Slide 18: Footnotes
Footnotes 1. Cost of sales per ounce of gold sold represents cost of sales for Chelopech and Ada Tepe, divided by payable gold in concentrate sold. This measure is before by-product credits. All-in sustaining cost per ounce of gold is a non-GAAP ratio which represents cost of sales less depreciation
Slide 19: TSX:DPM
Corporate Head Office 150 King Street West, Suite 902 Toronto, Ontario M5H 1J9 T: 416 365-5191 Investor Relations jcameron@dundeeprecious.com T: 416 219-6177 www.dundeeprecious.com Follow us on Twitter @DundeePrecious TSX:DPM Visit our LinkedIn page linkedin.com/company/dundee-precious-metals-inc/