Slide 1: Q1 2026 Financial and Operational Results Webcast
We envision. We deliver. Q1 2026 Financial and Operational Results Webcast May 7, 2026 NYSE: FSM | TSX: FVI We envision. We deliver.
Slide 2: Q1 2026 Highlights
Q1 2026 Highlights Record quarterly free cash flow3 of $174 million and adjusted attributable net income3 of $111 million Return to Shareholders Cash Flow & Margins Delivering Growth $20 million Record FCF from Operations1,3 Established presence in the Guyana Shield through 11% FCF from operations
Slide 3: Q1 2026 Operations and Projects
Q1 2026 Operations and Projects Production of 72,872 GEO1; on-track to meet annual guidance of 281,000 to 305,000 GEO Operating Mines Growth Séguéla Mine Lindero Mine Caylloma Mine Diamba Sud Gold Project CÔTE D’IVOIRE ARGENTINA PERU SENEGAL Gold Production (oz) Gold Production (oz) Silver Productio
Slide 4: Financial Overview
Financial Overview Caylloma Mine, Peru We envision. We deliver. Fortuna Mining Corp. | Q1 2026 Financial and Operational Results Webcast 4
Slide 5: Q1 2026 Sales
Q1 2026 Sales 76% YoY increase in sales for continuing operations Realized Precious Metals Prices1 Precious metals contribution2 5,400 $4,884 95% 4,400 3,400 Gold ($/oz) 90% 2,400 Q1 sales 1,400 $342.5 M Gold Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Silver 5% Copper 3% 92.00 Zinc 2% $82
Slide 6: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Record adjusted attributable net income of $111.0 million or basic EPS of $0.36 % Q1 Q4 Q1 ($ M, except in earnings per share figure) Change 2026 2025 2025 / YoY Sales 342.5 270.2 195.0 76% Adjusted EPS increased 57% QoQ and 200% YoY, reflecting higher realized Au Operat
Slide 7: Q1 2026 Capex Spent
Q1 2026 Capex Spent 2026 annual capital budget of $277 million; 43% sustaining, 57% non-sustaining 51.5 47.0 48.5 4.3 44.5 45.3 40.7 42.0 8.1 3.5 38.0 9.1 10.0 11.4 5.8 6.2 27.0 4.5 47.2 38.5 37.9 40.4 35.0 34.5 33.9 31.7 $M 22.5 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 202
Slide 8: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Available liquidity of $816 M from higher prices and expanding margins 816 704 537 588 150 $ Millions 459 150 150 150 Cash 150 666 438 554 Undrawn credit facility 309 387 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Total Net Cash1 137 215 266 382 493 Numbers in the table hav
Slide 9: Appendix
Appendix We envision. We deliver. Fortuna Mining Corp. | Q1 2026 Financial and Operational Results Webcast 9
Slide 10: Notes
Appendix Notes Where applicable, the Company has presented operating and financial results based on its continuing operations. Contributions from the San Jose and Yaramoko mines have been removed from 2025 results and comparative figures, unless otherwise disclosed, as they were disposed of during t
Slide 11: Consolidated Sales Metrics
Appendix Consolidated Sales Metrics Q1 2026 Q1 2025 % Change Metal Sold Au (oz) 63,423 57,094 11% Ag (oz) 203,433 251,810 (19%) Pb ('000 lb) 7,039 9,199 (23%) Zn ('000 lb) 11,017 13,826 (20%) Realized Price Au ($/oz) 4,884 2,884 69% Ag ($/oz) 82.69 31.77 160% Pb ($/lb) 0.87 0.89 (2%) Zn ($/lb) 1.47
Slide 12: 2026 Consolidated Cash Cost and AISC Guidance
Appendix 2026 Consolidated Cash Cost and AISC Guidance Cash Cost Guidance ($/GEO) AISC Guidance ($/GEO) 2026E Guidance 2026E Guidance Lindero 975 - 1,140 Lindero 1,520 - 1,655 Caylloma 1,440 - 1,590 Caylloma 2,610 - 2,965 Séguéla 735 - 815 Séguéla 1,630 - 1,730 Consolidated AISC 895 - 1,000 Corporat
Slide 13: Board of Directors
Appendix Board of Directors David Laing Mario Szotlender Board Chair | Independent Director Director Mining Engineer With 40 Years Of Experience In The Industry. David Is An Independent Mining Co-founder Of Fortuna. Financier, Businessman And Director Of Atico Mining, Endeavour Silver, And Consultan
Slide 14: Executive Leadership Team
Appendix Executive Leadership Team Jorge A. Ganoza DAVID WHITTLE President, CEO And Director Chief Operating Officer – West Africa Jorge is a geological engineer and co-founder of Fortuna, where he has led the Company since its inception. David joined Fortuna in July 2021 and held the position of Vi
Slide 15: Cautionary Statement On Forward Looking Statements
Appendix Cautionary Statement On Forward Looking Statements This webcast presentation contains forward looking statements which constitute “forward-looking information” within the meaning regulatory requirements and actions by governmental authorities, including changes in government policy, governm
Slide 16: Non-IFRS Financial Measures
Appendix Non-IFRS Financial Measures Fortuna’s condensed interim consolidated financial statements for the three months ended March 31, 2026 and 2025 (the “Q1 2026 These non-IFRS financial measures are widely reported in the mining industry as benchmarks for performance and are used by Management to
Slide 17: Séguéla Mine, Côte d’Ivoire
Appendix Séguéla Mine, Côte d’Ivoire Mineral Reserves and Mineral Resources Contained Metal Tonnes Au Classification Au (000) (g/t) (koz) Proven & Probable Reserves 16,356 3.01 1,616 Measured & Indicated Resources 5,651 2.58 469 Inferred Resources 9,989 2.74 879 Mineral Reserve and Mineral Resource
Slide 18: Contact
CONTACT CARLOS BACA Vice President, Investor Relations info@fmcmail.com | fortunamining.com NYSE: FSM | TSX: FVI @fortunamining @fortunamining @fortunamining @fortunamining @fortunamining