Endeavour Mining Plc · TSX:EDV
Endeavour Mining — Investor Presentation (May 2026)
162 slides from Endeavour Mining's investor presentation, May 2026
Slide 1: Corporate Presentation May 2026
CORPORATE PRESENTATION May 2026 1
Slide 2: Table of Contents
TABLE OF CONTENTS 1 Endeavour Overview 2 Financial Results and Outlook 3 Our High Quality Portfolio 4 Working as 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 measures, reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in including sustaining capital per ounce, non-sustaining cap
Slide 4: Endeavour Overview
ENDEAVOUR OVERVIEW 1
Slide 5: Endeavour Has an Unmatched Competitive Advantage in West Africa
Dakar Senegal Mali SABODALA-MASSAWA Burkina Faso KAWSARA Bamako Ouagadougou ENDEAVOUR SIGUIRI HOUNDÉ MANA HAS AN UNMATCHED Guinea KALANA BANTOU Benin KOUTO COMPETITIVE ADVANTAGE IN WEST AFRICA, ONE OF Sierra ASSAFOU LAFIGUÉ Togo Leone THE LARGEST AND MOST SAKASSOU ASSUÉFRY Ghana PROSPECTIVE Liberia
Slide 6: Company Profile
COMPANY PROFILE Highlights Top shareholders Shareholder register as at 31 March 2026 Ticker LSE | TSX: EDV, OTXCQ: EDVMF Shares outstanding as at 30 April 2026 241m Rank Institution name % of S/O 1 BlackRock Investment Management (UK) 13.5% Share price as at 30 April 2026 £44.14 / C$78.28 2 La Manch
Slide 7: Our Strategy
OUR STRATEGY Build a resilient business and work as a trusted partner with the ability to reward shareholders MAINTAIN A WORK AS A REWARD HIGH-QUALITY PORTFOLIO TRUSTED PARTNER SHAREHOLDERS Investing in our people Empowering communities Managing our balance sheet prudently Delivering industry-leadin
Slide 8: Maintaining a High Quality Portfolio
MAINTAINING A HIGH QUALITY PORTFOLIO Build a resilient business and work as a trusted partner with the ability to reward shareholders Investing In Operational Portfolio Unlocking People Excellence Management Exploration KEY Developing local talent Delivering against Focused on large, low- Replacing
Slide 9: 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 0.07 LTM LTIFR compared to an Industry average
Slide 10: Full Year 2026 Guidance
FULL YEAR 2026 GUIDANCE OPERATIONAL EXCELLENCE Guidance on track with a H2-2026 weighted performance FY-2026 Guidance GROUP 282koz PRODUCTION TOP 10 Q1-2026 1,090koz 1,265koz $192/oz3 Q1-2026 $1,642/oz2 $1,834/oz Global gold producer GROUP AISC $1,600/oz FY-2026 Guidance1 $1,800/oz at $3,000/oz Q1-2
Slide 11: Operational Excellence
OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE Strong operating performance driving all-in sustaining margin Guidance Track Record 65%1 Production Guidance All-in sustaining margin (%) 56% 52% 53% 50% 50% 48% 28% 36% 39% 40% 1,536koz 1,400koz 12 years Out of last 13 beating or 19% 20% 1,365-1,495koz
Slide 12: Organically Growing Production
ORGANICALLY GROWING PRODUCTION OPERATIONAL EXCELLENCE Production growth to 1.5Moz with class-leading costs Production from continuing operations1 Production from continuing operations 27%% 24 DEBT FUND GROWTH AND DELEVERAGING AND SECTOR LEADING REDUCTION DELIVER SHAREHOLDER SHAREHOLDER SHAREHOLDER R
Slide 13: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE OPERATIONAL EXCELLENCE DFS confirms Assafou’s potential to be another cornerstone asset for Endeavour DEFINITIVE FEASIBILITY STUDY KEY METRICS 320koz $1,026/oz +16year 4.4Moz Production AISC at $2,500/oz Life of Mine Mineral Reserve2 (annual, first 8 years) (annual, fi
Slide 14: Strong Construction Track Record
CEO INTRODUCTION STRONG CONSTRUCTION TRACK RECORD OPERATIONAL EXCELLENCE Leveraging our in-house construction expertise TRACK RECORD HOUNDÉ 18 month LAFIGUÉ 21 month Delivered on-schedule in Construction Construction <24 months 2 week 2 month Ramp-up Ramp-up Delivered on or below budget 3.0mtpa 4.0m
Slide 15: Active Portfolio Management
ACTIVE PORTFOLIO MANAGEMENT PORTFOLIO MANAGEMENT An improved portfolio underpinned by high quality growth projects Portfolio Objectives Endeavour’s portfolio Current operations1 Projects Divested Operations AISC, $/oz › Focus management efforts on large, long-life, low-cost 2,250 assets Côte d'Ivoir
Slide 16: Optimising Assets and Replenishing Pipeline
OPTIMISING ASSETS AND REPLENISHING PIPELINE PORTFOLIO MANAGEMENT Strong competition for capital on a returns basis across the portfolio DISCOVERY GENERATIVE EXPLORATION RESOURCE RESOURCE PRODUCTION EXPLORATION TARGETING APPRAISAL DEVELOPMENT > 1.5Moz target NEW CAOB Kouto, Koulou annual production V
Slide 17: Our Exploration Methodology
OUR EXPLORATION METHODOLOGY UNLOCKING EXPLORATION 12 – 15Moz of mineral resources targeted over 2026 - 2030 GOLD MINERAL SYSTEM FRAMEWORK Proprietary framework that provides a robust and consistent approach to target Tier 1 gold deposits BROWNFIELD GREENFIELD NEW VENTURES 6 – 9Moz at <$40/oz 6Moz at
Slide 18: 5-Year Discovery Outlook
5-YEAR DISCOVERY OUTLOOK UNLOCKING EXPLORATION 6 - 9Moz of MI&I resource discoveries targeted at operating portfolio Risked mean mineral resource discovery targets M&I Resource as at 31 December 20251 12-15Moz Risked Mean Indicated Resource Discovery Target 5-year (2026 – 2030) Mineral resource disc
Slide 19: Exploration Efforts by Asset
EXPLORATION EFFORTS BY ASSET UNLOCKING EXPLORATION Strong focus on near mine and greenfield exploration 2026-2030 exploration expenditure $540m New Ventures 10% Côte d’Ivoire Estimated total exploration 28% expenditure 2026 - 2030 $100m Greenfield 36% 20% FY-2026 exploration Senegal guidance 6% Burk
Slide 20: New Ventures Exploration
NEW VENTURES EXPLORATION UNLOCKING EXPLORATION Targeting Tier 1 gold provinces with high prospectivity and low exploration maturity OUR STRATEGY › Greenfield exploration programmes through operated exploration and New Ventures will target between 2 and 3 tier 1 greenfield discoveries over the 2026 –
Slide 21: Exploration Track Record
EXPLORATION TRACK RECORD UNLOCKING EXPLORATION 22.4Moz discovered since 2016, more than double production depletion Total M&I resource discoveries M&I resources discovered Exploration spend 7% 22.4 22.4Moz Group M&I resource grade 8% Discovered % of total M&I discoveries 1.5Moz 18% 1.9Moz Moz 4.0Moz
Slide 22: Exploration Track Record
EXPLORATION TRACK RECORD UNLOCKING EXPLORATION 22.4Moz discovered across two successful exploration programmes M&I discoveries M&I resource as at 31 December 2015 M&I discovered - 2016 -2021 programme M&I discovered - 2021 - 2025 programme <$ 25/oz Discovery cost 3.5Moz 1.2Moz 2.2Moz 2.6Moz DISCOVER
Slide 23: Quick Timeline from Discovery to Production
QUICK TIMELINE FROM DISCOVERY TO PRODUCTION UNLOCKING EXPLORATION Leveraging trusted partnerships in mining friendly jurisdictions Discovery Maiden Resource Updated Resource Permit Production 2026 Guidance: HOUNDÉ MINE M&I resources: M&I resources: 220-255koz production at KARI AREA DEPOSITS $19/oz
Slide 24: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION Significant regional prospectivity INSIGHTS › Exploration discovery target of 1.0 - 1.5Moz of MI&I resources over 2026 – 2030 period at a discovery cost of less than $40/oz. › 22 regional targets on Tanda-Iguela +20 Targets permits identified foll
Slide 25: Strong Free Cash Flow Generation
STRONG FREE CASH FLOW GENERATION Record free cash flow and free cash flow per ounce produced Free Cash Flow and Free Cash Flow per ounce produced Free Cash Flow Realised Gold Price1 Free Cash Flow per ounce produced $613m $2,176/oz $2,176/oz Free Cash Flow $476m per ounce produced $409m $1,597/oz $1
Slide 26: Healthy Financial Position
HEALTHY FINANCIAL POSITION Rapid deleveraging to a net cash position Evolution of net debt (cash) position Net debt (cash) DELEVERAGING AND INCREASING SHAREHOLDER RETURNS $469m $453m SECTOR LEADING SHAREHOLDER RETURNS & ORGANIC GROWTH $ 563m Improvement in Net $378m Debt (Cash) Position Q1-2026 vs Q
Slide 27: Sector-Leading Shareholder Returns
SECTOR-LEADING SHAREHOLDER RETURNS Record H2-2025 shareholder dividend announced Cumulative shareholder returns Minimum Returns Returns per ounce produced Supplemental Returns 435m Share buybacks Dividends per $435m share $85m $ Returned to shareholders $299m for FY-2025 $278m $277m $125m $266m $37m
Slide 28: Attractive Shareholder Returns
ATTRACTIVE SHAREHOLDER RETURNS Shareholder returns are attractive across gold mining and other sectors 2025 RETURNS PER OUNCE 2025 INDICATIVE YIELD 2025 TSR $0/oz $500/oz $1,000/oz $1,500/oz 0% 1% 2% 3% 4% 0% 50% 100% 150% 200% Lundin Gold $1,377/oz Endeavour 3.5% Endeavour 196.4% AngloGold $512/oz
Slide 29: 2026-2028 Shareholder Returns Programme
2026-2028 SHAREHOLDER RETURNS PROGRAMME ~$ Increasing commitment to shareholder returns through the growth phase 1bn minimum commitment over Shareholder returns programme FY-2026 to FY-2028 Share buybacks Minimum dividends Supplemental dividends Supplemental returns $435m ~$ 1bn minimum commitment o
Slide 30: 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 31: Our Purpose Is to Produce Gold That Provides Meaningful Value
OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES MEANINGFUL VALUE TO PEOPLE AND SOCIETY We achieve this by... ENVIRONMENT SOCIETY GOVERNANCE Climate change Economic development Respect for human rights Education Zero harm & employee Water stewardship well-being Biodiversity Health Diversity and inclusio
Slide 32: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 2
Slide 33: Financial Highlights
FINANCIAL HIGHLIGHTS Record adjusted EBITDA and free cash flow generation in Q1-2026 THREE MONTHS ENDED 31 Mar 31 Dec 31 Mar Q1-2026 vs. (in $ million unless otherwise stated) 2026 2025 2025 Q4-2025 29% OPERATIONAL HIGHLIGHTS Gold Production, koz 282 298 341 (5)% Gold Sold, koz Total Cash Cost1, $/o
Slide 34: Strong Production at Robust Margins
STRONG PRODUCTION AT ROBUST MARGINS Continued all-in sustaining margin expansion at higher realised gold prices Production and All-In Sustaining Margin Realised $2,976/oz Production, koz All-In Sustaining Margin, $/oz Gold Price1 341koz 306koz 264koz 298koz 282koz - 16koz Production $2,225/oz Q1-202
Slide 35: Tackling Inflationary Pressures
TACKLING INFLATIONARY PRESSURES Stable cost base supporting improving margins INTERNAL FACTORS IMPACTING AISC EXTERNAL FACTORS IMPACTING AISC CONTRACTORS ROYALTIES Multiyear contracts in place ~20% ~22% Government royalty rates vary on mining contractors at Ity between 5 - 10% by country and and Man
Slide 36: Adjusted EBITDA and Adjusted EBITDA Margin
ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Record Adjusted EBITDA generation at stronger margins Adjusted EBITDA and Adjusted EBITDA Margin Adj. EBITDA Adj. EBITDA Margin 199m Realised Gold Price1 $880m +$ $681m Adj. EBITDA $613m Q1-2026 vs Q4-2025 $556m $466m 65% +12pp 59% 55% 53% 51% Adj. EBITDA m
Slide 37: Operating Cash Flow
OPERATING CASH FLOW Strong operating cash flow driven by higher margins Operating cash flow Operating cashflow Realised Gold Price1 $737m $609m +$ 128m Operating cash flow $494m Q1-2026 vs Q4-2025 $309m $252m + 21% Operating cash flow $2,783/oz $3,150/oz $3,247/oz $3,873/oz $4,810/oz Q1-2026 vs Q4-2
Slide 38: Operating Cash Flow Bridge
OPERATING CASH FLOW BRIDGE Higher gold prices and lower operating expenses driving higher operating cash flow INSIGHTS Operating cash flow bridge 1. The realised gold price for continuing operations, inclusive of realised losses on gold hedges as part ($23m) of the Group’s Revenue Protection Program
Slide 39: Free Cash Flow
FREE CASH FLOW Record free cash flow generation Free Cash Flow1 Operating Cashflow Free Cash Flow $737m Investing Cashflow $609m $613m +$ 137m $494m $476m Free Cash Flow $409m Q1-2026 vs Q4-2025 $309m $252m $166m $104m + 29% Free cash flow ($85m) ($133m) ($125m) Q1-2026 vs Q4-2025 ($148m) ($143m) Q1
Slide 40: Change in Net Debt
CHANGE IN NET DEBT Strong net cash position at the end of Q1-2026 INSIGHTS Change in net debt (cash) 1. Operating activities included $829m in $158m 1 operating cashflow before changes in working capital and a $92m working capital outflow. 0.07x Leverage 2. Investing activities included $75m of sust
Slide 41: Net Earnings
NET EARNINGS Adjusted net earnings increased quarter on quarter INSIGHTS 3 MONTHS ENDED 31 Mar 31 Dec 1. Other expenses decreased to $9m and included $5m (in $ million) A = Adjustments made for Adjusted Net Earnings 2026 2025 in legal fees, $2m in community contributions, $1m in indirect tax claims
Slide 42: Debt Structure
DEBT STRUCTURE Significant reduction in gross debt following full repayment of RCF Change in debt drawn INSIGHTS ($m) Interest Rate Maturity 31 Mar 2026 31 Dec 2025 31 Mar 2025 › The Group had $85m drawn on the Revolving Credit Facility (RCF) at 31 March 2026. $500m Senior Notes 5.00 % Oct 2026 — —
Slide 43: Stable Credit Rating
STABLE CREDIT RATING S&P credit rating is capped by sovereign rating S&P long-term foreign currency debt credit ratings Endeavour BB- BB- Côte d’Ivoire BB- S&P rating Senegal CCC+ Stable Outlook across all Burkina Faso CCC+ jurisdictions 43
Slide 44: FY-2026 Guidance
FY-2026 GUIDANCE Capital Expenditure Guidance FY-2025 FY-2026 GUIDANCE (All amounts in US$m) Houndé 37 50 Production Guidance Ity 33 40 Mana 88 60 (All amounts in koz, on a 100% FY-2025 FY-2026 GUIDANCE Sabodala-Massawa 42 50 basis) Lafigué 8 30 Houndé 257 220 — 255 Corporate 2 — SUSTAINING CAPITAL
Slide 45: Tax Payments
TAX PAYMENTS Cash income and withholding tax payment outlook Group tax payments by year Minesite Tax Withholding Tax INSIGHTS › Income tax payments reflect the prior years taxable FY-2024 $17m $296m FY-2025 $23m $362m earnings, while withholding tax payments reflect cash $65m $67m upstreaming in the
Slide 46: Our High Quality Portfolio
OUR HIGH QUALITY PORTFOLIO 3
Slide 47: Safety Performance
47 SAFETY PERFORMANCE Continued industry leading safety record TRIFR and hours worked Hours Worked (Millions, 12 month trailing basis) TRIFR (12 month trailing basis)1 41.6m 41.7m 38.0m 38.1m 39.4m 0.72 TRIFR in Q1-2026 1.00 1.00 0.99 0.96 0.72 41.7m Hours worked Q1-2025 Q2-2025 Q3-2025 Q4-2025 Q1-2
Slide 48: Diversified Portfolio
DIVERSIFIED PORTFOLIO P&P RESERVES M&I RESOURCES FY-2025 2026 Guidance as at 31 Dec 2025 as at 31 Dec 2025 ASSET COUNTRY PRODUCTION AISC PRODUCTION AISC1 CONTAINED GRADE CONTAINED GRADE (koz) (US$/oz) (koz) (US$/oz) GOLD (Moz) (g/t) GOLD (Moz) (g/t) Houndé Burkina Faso 257 1,354 220 – 255 1,800 – 2,
Slide 49: Reserve and Resource Evolution
RESERVE AND RESOURCE EVOLUTION Depletion and model optimisation partially offset by discoveries and gold price increase P&P reserve bridge1 18.4Moz (0.7Moz) (0.4Moz) (0.1Moz) 16.6Moz 1.8Moz (0.5Moz) (0.4Moz) +0.3Moz - P&P reserves FY-2025 vs FY-2024 2024 Year-end Houndé Ity Mana Sabodala- Lafigué As
Slide 50: Q1-2026 Performance vs Guidance
Q1-2026 PERFORMANCE VS GUIDANCE Group on track to achieve full-year guidance with H2 weighted performance Q1-2026 Production vs Guidance Q1-2026 AISC vs Guidance $1,300/oz $1,500/oz Ity Q1 Q1 69koz 285 - 330koz $1,471/oz $1,800/oz $2,000/oz Houndé Q1 Q1 51koz 220 - 255koz $2,126/oz $2,000/oz $2,250/
Slide 51: Houndé Mine
HOUNDÉ MINE Burkina Faso 220-255koz $1,800-2,000/oz 1.90Moz 2.63Moz As at As at 2026 Guidance 2026 Target 31 December 2025 31 December 2025 Production AISC P&P Reserves M&I Resources1 Overview The Houndé mine is one of Endeavour’s The goal is to delineate sufficient additional resources cornerstone
Slide 52: Houndé Mine
HOUNDÉ MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2025 • Greater mining flexibility with multiple available ore sources Resources shown Tonnage Grade Content (Mt) (Au g/t) (Au koz) following stripping at Vindaloo and the incorporation of Kari Pump inclusive of Reserves
Slide 53: Houndé Mine
HOUNDÉ MINE Higher grade expected in H2-2026 as waste stripping advances Production and AISC Production, koz AISC, US$/oz Q1-2026 vs Q4-2025 INSIGHTS › Production increased due to higher grades milled, partially offset by lower tonnes milled while recoveries 92koz remained broadly in line with Q4-20
Slide 54: Houndé Exploration Overview
HOUNDÉ EXPLORATION OVERVIEW Focused on maintaining a +10 year mine life Exploration Strategy EXPLORATION RESOURCE TARGETING APPRAISAL Vindaloo airstrip Vindaloo Deeps Vindaloo airstrip Kari Fault Karba Kari Deeps TARGET SCREENING Bubble size represents risk- adjusted deposit size Kari Deeps Grand Es
Slide 55: Vindaloo Deeps
VINDALOO DEEPS Mineralisation remains open at depth below the current pit shell INSIGHTS Vindaloo Deeps deposit map › 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 res
Slide 56: Ity Mine
ITY MINE Côte d’Ivoire 285-330koz $1,300-1,500/oz 3.18Moz 5.48Moz As at As at 2026 Guidance 2026 Guidance 31 December 2025 31 December 2025 Production AISC P&P Reserves M&I Resources1 Overview The Ity mine is one of Endeavour’s cornerstone assets. It has the The CIL plant was successfully built ahea
Slide 57: Ity Mine
ITY MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2025 Tonnage Grade Content • Continued inclusion of new discoveries, including Le Plaque, to Resources shown (Mt) (Au g/t) (Au koz) provide greater mining and processing flexibility. inclusive of Reserves (on a 100% basis)
Slide 58: Ity Mine
ITY MINE Progressive production increases through 2026 Production and AISC Production, koz AISC, US$/oz Q1-2026 vs Q4-2025 INSIGHTS › Production decreased due to lower average grades milled 74koz and lower mill throughput, partially offset by higher 84koz 84koz 77koz 69koz recoveries. $1,269/oz $1,1
Slide 59: Ity Exploration Overview
ITY EXPLORATION OVERVIEW Focused on maintaining mine life above 10 years Exploration Strategy EXPLORATION RESOURCE TARGETING APPRAISAL Gbampleu Goleu Mahapleu Guiamapleu Gueya Mont-Bâ TARGET SCREENING Bubble size represents MONTA-BÂ risk-adjusted deposit size Occurrence applied Gbampleu Probability
Slide 60: Ity Resource Model
ITY RESOURCE MODEL Significant reserve and resource potential at the Ity Donut INSIGHTS 2023 Grand Ity reserve model1 2024 Grand Ity reserve model2 › Significant resource and Bakatouo NW reserve expansion at Ity, in close proximity to the processing plant. Processing Plant Zia Bakatouo › Added 1.2Mo
Slide 61: Gbampleu
GBAMPLEU Promising target on the Toulepleu-Ity greenstone belt INSIGHTS Gbampleu deposit map › The Gbampleu discovery is located in the Toulepleu exploration permit (PR462), 22km south of the Ity processing plant. The prospect sits in the centre part of the Toulepleu-Ity greenstone belt, on the sout
Slide 62: Gbampleu
GBAMPLEU Promising target on the Toulepleu-Ity greenstone belt 62
Slide 63: Goleu
GOLEU High priority target hosting high grade mineralisation INSIGHTS Goleu deposit map › The Goleu target is located approximately 15km south of the Ity processing plant on the wider Ity trend, and contains high grade mineralisation, continuous at depth, that was identified in early FY-2025. › A ma
Slide 64: Mana Mine
MANA MINE Burkina Faso 155-180koz $2,000-2,250/oz 0.60Moz 1.20Moz As at As at 2026 Guidance 2026 Guidance 31 December 2025 31 December 2025 Production AISC P&P Reserves M&I Resources1 Overview The Mana mine is located in the northern part Recent discoveries resulted in the development of of the high
Slide 65: Mana Mine
MANA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2025 • Mine life extensions through open pit and underground exploration Tonnage Grade Content Resources shown (Mt) (Au g/t) (Au koz) • Increasing development rates across three portals at Wona inclusive of Reserves (on a
Slide 66: Mana Mine
MANA MINE Production expected to increase through FY-2026 Production and AISC Production, koz AISC, US$/oz Q1-2026 vs Q4-2025 INSIGHTS › Production decreased due to lower tonnes of ore 46koz 46koz milled, lower grades processed and lower recoveries. 41koz 39koz 39koz › AISC increased due to higher r
Slide 67: Mana Exploration Overview
MANA EXPLORATION OVERVIEW Focussed on extending mine life to +10 years EXPLORATION RESOURCE TARGETING APPRAISAL Bara Wona Deeps UG Momina TARGET SCREENING Bubble size represents risk- adjusted deposit size Bara Wona Deeps UG Occurrence applied Probability of Momina Stage 67
Slide 68: Wona Deeps
WONA DEEPS Mineralisation remains open at depth below the existing underground INSIGHTS Wona Deeps deposit map › A total of 7,600m of drilling has been performed in FY-2025 across 12 drill holes to test the extent of Wona Deeps Long Section showing Grade Control8.5m Resources 7.0m @ 7.36 g/t mineral
Slide 69: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Senegal 260-305koz $1,350-1,550/oz 2.77Moz 5.19Moz As at As at 2026 Guidance 2026 Guidance 31 December 2025 31 December 2025 Production AISC P&P Reserves M&I Resources1 Overview The Sabodala-Massawa complex has potential to become a Construction of the Sabodala-Massawa expansio
Slide 70: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2025 • BIOX throughput optimisation targeting +10-15% Resources shown Tonnage Grade Content inclusive of Reserves (on a 100% basis) (Mt) (Au g/t) (Au koz) • Exploring for new high-grade CIL ore sources on newly
Slide 71: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Stable CIL performance with improved BIOX performance expected Production and AISC1 Production, koz AISC, US$/oz Q1-2026 vs Q4-2025 INSIGHTS › Production decreased due to lower average grades 78koz 72koz 67koz processed, partially offset by higher tonnes milled, 62koz 61koz whi
Slide 72: Sabodala-Massawa Technical Review
SABODALA-MASSAWA MINE Overview of Sabodala-Massawa technical review Reserves and resources Detailed review of eight non-refractory and refractory deposits, incorporating 317km of drilling across 7,300 additional grade- control drill holes, confirmed the tonnage, grade and endowment of all deposits u
Slide 73: Sabodala-Massawa Underground Scoping
SABODALA-MASSAWA MINE Scoping underway for high-grade underground expansion INSIGHTS Underground reserves and resources As at 31 December 2025 › Feasibility level scoping work is underway to update Tonnage (kt) Grade (Au g/t) Content (Au koz) the Sabodala-Massawa underground mine plan. Total Sabodal
Slide 74: Unlocking BIOX Throughput and Recoveries
SABODALA-MASSAWA MINE Unlocking BIOX throughput and recoveries BIOX processing history Throughput, kt Recovery, % INSIGHTS BIOX Throughput: 82.0% 78.3% 79.0% › Throughput is targeting 15% above design nameplate by Q1-2026. 75.3% › During FY-2026, throughput and recovery rates are expected to 72.4% 7
Slide 75: Near Term Exploration Focussed on Adding High-Grade CIL Ore
SABODALA-MASSAWA MINE Near term exploration focussed on adding high-grade CIL ore INSIGHTS Sabodala-Massawa overview › Following success in the FY-2024 exploration campaign at Sabodala-Massawa, the Kiesta C and Soukhoto high grade, non-refractory deposits were incorporated into the mine plan and are
Slide 76: 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 77: 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 78: 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 79: Sabodala-Massawa Exploration Overview
SABODALA-MASSAWA EXPLORATION OVERVIEW Targeting near-term non-refractory and longer-term refractory deposits Exploration Strategy EXPLORATION RESOURCE TARGETING APPRAISAL Gora Khosa Kawsara Golouma Sika Kerekounda Bakan Sira Soma Gora KA Makana Mafa TARGET SCREENING Bubble size represents risk- adju
Slide 80: Kawsara
KAWSARA Expected to provide near-term CIL ore INSIGHTS › Kawsara is a 10km long anomaly that INSET includes the Tama Toya and Sira Permits Kanoumba Exploration Permit targets. Massawa Mining Permit › The anomaly was drilled in Q1-2024, Drilling Collars identifying a potentially large resource DD wit
Slide 81: Kawsara
KAWSARA Expected to provide near-term CIL ore 81
Slide 82: Makana
MAKANA Expected to provide medium-term, high grade CIL ore INSIGHTS › The Makana deposit has the potential to provide high grade CIL ore in the nearer-term, with near-surface mineralisation. › The Makana deposit is located approximately 20km from the Sabodala-Massawa processing plant and is situated
Slide 83: Lafigué Mine
LAFIGUÉ MINE Côte d’Ivoire 170-195koz $1,600-1,800/oz 1.93Moz 2.23Moz As at As at 2026 Guidance 2026 Guidance 31 December 2025 31 December 2025 Production AISC P&P Reserves M&I Resources1 Overview The Lafigué mine is Endeavour’s newest cornerstone asset. It Construction began in Q4-2022 with first g
Slide 84: Lafigué Mine
LAFIGUÉ MINE Throughput continues to exceed design nameplate Production and AISC Production, koz AISC, US$/oz Q1-2026 vs Q4-2025 INSIGHTS › Production increased due to an increase in average grades milled, recovery rates and tonnes milled. 56koz 53koz › AISC increased due to higher sustaining capita
Slide 85: Lafigué Exploration Overview
LAFIGUÉ EXPLORATION OVERVIEW Long-term potential to grow endowment Exploration Strategy EXPLORATION RESOURCE DISCOVERY TARGET TARGETING APPRAISAL (2021-2025) Corridor WA 01-03 Central Area Corridor Target 04-T12 Corridor WA 02-06 Corridor WA 08 Corridor Target 01 Waste Dump SE Corridor Target 9-11 T
Slide 86: Assafou Project
ASSAFOU PROJECT Côte d’Ivoire 320koz $1,026/oz 4.4Moz 5.0Moz As at As at First 8 years First 8 years 31 December 2025 31 December 2025 Production AISC2 P&P Reserves M&I Resources1 Overview The Assafou project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities of th
Slide 87: Assafou: Next Steps Toward First Gold
ASSAFOU Next steps toward first gold INSIGHTS ASSAFOU PROJECT EARLY WORKS Q2-2026: Work Stream Q2-2026 Q3-2026 Q4-2026 Q1-2027 Q2-2027 Q3-2027 Q4-2027 Q1-2028 › Procurement of long-lead items has Early Works been launched. EPCM Award Detailed Design & Engineering › Detailed engineering and design is
Slide 88: Assafou Project
ASSAFOU PROJECT Côte d’Ivoire ASSAFOU PROJECT DFS ECONOMIC SENSITIVITY ASSAFOU PROJECT DFS SUMMARY OPERATION TYPE Gold Price $2,000/oz $2,500/oz $3,000/oz $4,000/oz Mine type Open Pit PRE-TAX Plant type 5.0Mtpa Gravity / CIL Plant NPV5%, $m 1,625 2,909 4,250 6,934 RESERVES & RESOURCES1 IRR, % 23 34
Slide 89: Assafou Exploration Overview
ASSAFOU EXPLORATION OVERVIEW Potential to expand resource beyond the Assafou deposit Exploration Strategy EXPLORATION RESOURCE TARGETING APPRAISAL Pala Trend 1 Djani-Yao Pala Trend 2 Pala Trend 3 Dakoua Broukro Attrame Pala SW Koumenagaré Gbokore-Guiende Corridor TARGET SCREENING Bubble size represe
Slide 90: Assafou: Resource Growth Expected
ASSAFOU Resource growth expected at the Assafou deposit INSIGHTS › 2025 drilling has identified mineralisation towards the southeast of the Assafou deposit, below the existing pit shell. › 2025 drilling included infill and advanced grade control, with tighter spacing, increasing confidence in the re
Slide 91: Assafou Cross Section A0600
ASSAFOU Resource growth expected at the Assafou deposit Cross section A0600 91
Slide 92: Assafou Cross Section A0833
ASSAFOU Resource growth expected at the Assafou deposit Cross section A0833 92
Slide 93: Assafou Cross Section A1716
ASSAFOU Resource growth expected at the Assafou deposit Cross section A1716 93
Slide 94: Assafou Cross Section A1716
ASSAFOU Resource growth expected at the Assafou deposit Cross section A1716 94
Slide 95: Assafou Cross Section A1850
ASSAFOU Resource growth expected at the Assafou deposit Cross section A1850 95
Slide 96: Assafou Cross Section A1866
ASSAFOU Resource growth expected at the Assafou deposit Cross section A1866 96
Slide 97: Assafou Cross Section A2316
ASSAFOU Resource growth expected at the Assafou deposit Cross section A2316 97
Slide 98: Assafou Cross Section A2333
ASSAFOU Resource growth expected at the Assafou deposit Cross section A2333 98
Slide 99: Assafou Cross Section A2416
ASSAFOU Resource growth expected at the Assafou deposit Cross section A2416 99
Slide 100: Assafou Cross Section A2966
ASSAFOU Resource growth expected at the Assafou deposit Cross section A2966 100
Slide 101: Pala Trend 2 and 3
PALA TREND 2 AND 3 Near-surface mineralisation to supplement near-term production at the Assafou project INSIGHTS Pala Trend 2 and 3 deposit map PALA TREND 3 › Maiden M&I resource of 4.7Mt @ 1.55g/t (0.2Moz Au) effective 31 Dec 2025 › High-grade continuous oxide resources start at surface and provid
Slide 102: Pala Cross Section A1166
ASSAFOU Resource growth expected at Pala 3 Pala 3 cross section A1166 102
Slide 103: Pala Cross Section A1266
ASSAFOU Resource growth expected at Pala 3 Pala 3 cross section A1266 103
Slide 104: Pala Cross Section A1366
ASSAFOU Resource growth expected at Pala 3 Pala 3 cross section A1366 104
Slide 105: Pala Cross Section A3000
ASSAFOU Resource delineation at Pala 2 Pala 2 cross section A3000 105
Slide 106: Koulou Gold Investment
INSIGHTS › Endeavour has strategically invested $6.8m in Koulou Gold for a 19.07% ownership stake, through two investments in May 2024 and March 2025. Koulou Gold has four high Côte d’Ivoire KOULOU GOLD INVESTMENT priority projects: Assuéfry project › The Assuéfry property is located immediately Eas
Slide 107: East Star Resources Joint Venture
INSIGHTS › Building a long-term organic growth pipeline by leveraging early-stage exploration companies operating in highly prospective, immature, gold terranes. EAST STAR RESOURCES JOINT VENTURE Kazakhstan › On 25 October 2025, Endeavour signed a partnership-style joint venture (“Joint Venture”) wi
Slide 108: The Kazakh Economy
GOLD PRODUCTION2, Moz 4.6% 3.3 3.1 KAZAKHSTAN 2.7 CAGR 2.3 2.3 2.3 2.2 2.2 2.2 2.0 1.6 THE KAZAKH 1.4 ECONOMY Kazakhstan is Central Asia’s 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 largest economy. While it has long relied on energy POLITICAL ECONOMIC RESOURCE EXPORTS3 exports, min
Slide 109: Altair Minerals
INSIGHTS › On 27 April 2026, Endeavour signed a 9.9% strategic placement with Altair Minerals Ltd Guyana ALTAIR MINERALS (ASX:ALR) (“Altair”) via a non-brokered private placement with a gross commitment of $20.2m. › The investment forms part of Endeavour’s 5- year Exploration Strategy that is focuse
Slide 110: The Guyanese Economy
GOLD EXPLORATION BUDGET1, $M 74.7 64.9 56.4 50.5 THE GUYANESE 38.4 31.7 29.5 26.2 ECONOMY 25.3 23.9 20.5 16.9 15.1 13.4 International tax 7.9 Operating Guyana is one of the fastest 201120122013201420152016201720182019202020212022202320242025 growing economies in the world with a GDP growth rate of o
Slide 111: Kalana Project
QUICK FACTS (100% BASIS) based on 2021 PFS RESERVES AND RESOURCES as at 31 December 2025 Ownership 80% EDV Mine Type Open Pit Tonnage Grade Content Resources shown (Au koz) Mali KALANA PROJECT (Mt) (Au g/t) Mill Type 3.0Mtpa Gravity / CIL Plant inclusive of Reserves (on a 100% basis) LIFE OF MINE PR
Slide 112: Bantou Project
INSIGHTS › Acquired through Endeavour’s acquisition of SEMAFO in 2020 and currently consists of eight mineralised zones with diverse Burkina Faso BANTOU PROJECT mineralisation styles and grades within the prolific Houndé Greenstone Belt. › The Inferred resource is comprised of three main areas with
Slide 113: Working as a Trusted Partner
WORKING AS A TRUSTED PARTNER 4
Slide 114: Our Purpose Is to Produce Gold That Provides Meaningful Value
OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES MEANINGFUL VALUE TO PEOPLE AND SOCIETY We achieve this by... ENVIRONMENT SOCIETY GOVERNANCE Climate change Economic development Respect for human rights Education Zero harm & employee Water stewardship well-being Biodiversity Health Diversity and inclusio
Slide 115: Being a Trusted Partner
BEING A TRUSTED PARTNER 2025 economic contribution and ESG performance highlights 2025 SUSTAINABILITY REPORT HIGHLIGHTS FULL YEAR ESG REPORTING $2.8bn $919m $309m Economic Contribution Paid to host Wages and related to host countries governments payments in country $1.6bn 95% 33% Spent on in-country
Slide 116: Significant Impact to Host Economies 2021-2025
BEING A TRUSTED PARTNER Significant impact to host economies over the 2021-2025 period PHASE 1 ESG STRATEGY: 2021-2025 IMPACT Economic Economic Access to Education and contribution development healthcare employability $3.3bn1 $6.6bn1 55,000 38,000 Paid to host governments In-country procurement Peop
Slide 117: Continuous Improvement in ESG Ratings
CONTINUOUS IMPROVEMENT IN ESG RATINGS Reflecting increased transparency, disclosure and engagement B- Severe AA AA AA AA C+ A C Medium Low Low C- C- BBB 2019 2020 2021 2022 2023 2024 2025 2026 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 B B 54 B- 53 49 C C C 45 39 D- 2019 2020 2021 2
Slide 118: Towards Net Zero
TOWARDS NET ZERO INSIGHTS › Net Zero ambition for Scope 1 and 2 emissions by 2050 Emissions Intensity target of 2026 › Medium-term target: 30% reduction in Scope 1 and 2 intensity by 2030 <600tCO2e/oz › These targets are aligned with the Paris Agreement (< 2°C global warming) 30% reduction in CO2-e/
Slide 119: Energy Sources
ENERGY SOURCES SNAPSHOT OF OUR POWER SOURCES AND OPPORTUNITIES Senegal Côte d’Ivoire Burkina Faso Country Profile Country Profile Country Profile • 80% Fossil, 20% Renewables (Solar, Wind, Hydro) • Well-developed national infrastructure • 49% Imported, 51% National Production Mines & Main Power Sour
Slide 120: Water Stewardship
WATER STEWARDSHIP Water stress index INSIGHTS › Our approach is to use water as efficiently as 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 inc
Slide 121: 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 disclo
Slide 122: Protecting the Environment
PROTECTING THE ENVIRONMENT PROTECTING INSIGHTS THE ENVIRONMENT TARGETS › We are committed to protecting and conserving nature and biodiversity. Protect >200 hectares Group-wide & 2026 › Our Environmental policy includes a commitment to No Net Loss of Critical Habitat. launch biodiversity initiative
Slide 123: Creating Jobs & Upskilling Talent
CREATING JOBS & UPSKILLING TALENT Our workforce INSIGHTS Our employees, by origin Female employees Nationals Female contractors › Total workforce of 14,615 including 5,381 Local Communities Male employees employees & 9,234 contractors. Expatriates Male contractors › 68% of our Senior Managers are We
Slide 124: Boosting Host Economies
BOOSTING HOST ECONOMIES INSIGHTS FY-2025 Procurement budget FY-2025 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 co
Slide 125: Community Engagement
COMMUNITY ENGAGEMENT Case study INSIGHTS › 2,321 community consultations held during 2025 › Range of income-generating activities in place, with a focus on the youth and women › 226 grievances received in 2025, an increase of 12% compared to the 256 received in 2024, largely due to issues regarding
Slide 126: 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. 1100 Birth Certificates Lvolution Academy University 844 Job Experience Supporting disabled & (site init
Slide 127: Targeting Zero Harm
TARGETING ZERO HARM INSIGHTS Lost time injury frequency (LTIFR) All injury frequency rate (AIFR) › Reported 0.07 LTIFR, well below industry -73% -16% benchmark. 0.26 3.66 3.47 › Malaria incidence rate reduced 73% to 53 0.20 2.86 3.08 2.77 2.74 following the ongoing success of a community malaria pro
Slide 128: Diversity and Inclusion
DIVERSITY AND INCLUSION INSIGHTS Female representation at Endeavour › Employment of women in mining in West Africa +33% remains relatively new, predominantly due to historical perceptions of the industry and cultural 12% 12% traditions. 11% › We are addressing this bias by actively promoting gender
Slide 129: Ethical Business
ETHICAL BUSINESS INSIGHTS TARGETS › Zero substantiated reports of bribery, corruption, human rights or modern slavery Implement VPSHR compliance audit at 2026 Lafigué and Sabodala-Massawa mines › Set out Group’s 3-year human rights roadmap › Achieved RGMP compliance across all our sites and corporat
Slide 130: Governance Framework
GOVERNANCE FRAMEWORK THE BOARD ESG Committee Audit & Risk Committee Quarterly Executive Management Committee EVP PA, Security and Social Perf. EVP Operations & ESG Executive ESG SteerCo Quarterly Legal Working groups for Sector Specialists HSE HR Social Tech Supply Investor Public Performance Servic
Slide 131: Strong and Diverse Corporate Governance
STRONG AND DIVERSE CORPORATE GOVERNANCE Size of Board = 10 Nationalities represented on the Board Board experience by sector Strategy & Leadership International Business 9 7 1 Metals & Mining Finance & Accounting Public Policy Operations & Exploration Corporate Governance Sustainability & Non-Execut
Slide 132: West Africa Insights
WEST AFRICA INSIGHTS 5
Slide 133: West Africa's Competitive Advantage
Historically underexplored region; top region for gold discoveries over the last 15 years EXPLORATION WEST AFRICA'S COMPETITIVE Amongst the quickest permitting timelines globally as countries seek to attract investment ADVANTAGE PERMITTING Endeavour is strategically positioned with an unmatched comp
Slide 134: West Africa Ranks 1st for Discoveries
• INDUSTRY EXPLORATION SPEND DISCOVERIES BY AREA For the period between 2010-2024 West Africa 70Moz Ecuador 39Moz Canada 37Moz Indonesia 33Moz WEST AFRICA RANKS USA 31Moz 1ST FOR DISCOVERIES Australia Côte d’Ivoire 30Moz 23Moz China 18Moz The region is significantly under- Burkina Faso 17Moz explore
Slide 135: Endeavour Holds One of the Largest Land Tenement Holdings
UNDER-EXPLORED REGION Dakar Senegal ENDEAVOUR HOLDS ONE OF THE SABODALA-MASSAWA KAWSARA Mali Bamako Burkina Faso Ouagadougou LARGEST LAND MANA HOUNDÉ TENEMENT HOLDINGS Guinea SIGUIRI KALANA BANTOU IN WEST AFRICA KOUTO ASSAFOU Sierra Togo Leone LAFIGUÉ Ghana SAKASSOU ASSUÉFRY Côte d’Ivoire Liberia IT
Slide 136: West Africa Is the 4th Largest Exploration Focus
GOLD INDUSTRY EXPLORATION BUDGET 2024 In US$ millions Canada Australia WEST AFRICA IS West Africa USA $436m THE 4TH LARGEST Mexico EXPLORATION FOCUS China Argentina ACROSS THE GLOBE Peru Côte d’Ivoire $118m Chile Given that exploration spend often Brazil Ghana 20% Ecuador foreshadows future producti
Slide 137: 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 BUILD A MINE North America 17 yrs Given the importance of mining to West South America 16 yrs African economies, administrations are supportive of the extractiv
Slide 138: West African Projects Are Built Quicker, On-Time and On-Budget
• 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
Slide 139: West African Projects Have Low Capital Intensity
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 $108/oz West African projects have the lowest capital intensity of any region
Slide 140: West Africa Is the Fastest-Growing Gold Producing Region
WEST AFRICAN PRODUCTION GROWTH Burkina Faso Côte d’Ivoire Mali Senegal Guinea Ghana Other1 % of Mine Supply WEST AFRICA 16Moz 14% IS THE FASTEST- GROWING GOLD 14Moz 12% PRODUCING REGION 12Moz 10% 10Moz compound annual 8.5% growth rate 1990-2024 8% 8Moz 6% 6Moz production increase +85% over last deca
Slide 141: West African Gold Production by Country
WEST AFRICAN GOLD PRODUCTION BY COUNTRY FY-2024 gold production by country WEST AFRICA 15Moz IS THE LARGEST GLOBAL GOLD 12Moz PRODUCING REGION 11Moz 6 out of the top 10 senior gold producers 9Moz have a presence in West Africa, with Endeavour being the largest producer in the region. 7Moz 5Moz 4Moz
Slide 142: Favourable Mining Jurisdictions
WEST AFRICAN ECONOMIC AND MONETARY UNION FAVOURABLE MINING JURISDICTIONS Stable mining code and a well-balanced profit-sharing framework to encourage investment into the mining sector. WAEMU has adopted standardised tax principles across member countries, creating consistency that allows Royalty rat
Slide 143: Alignment of Mining Codes
ALIGNMENT OF MINING CODES Well-aligned mining codes across West Africa CÔTE D’IVOIRE BURKINA FASO SENEGAL Low High Rate Low High Rate Government 0 1,000 5.00% 1,5004 1,700 6.00% Royalty rate at 1,000 1,300 5.50% 1,700 2,000 6.50% US$/oz gold 1,300 1,600 6.00% 2,000 3,000 7.00% price Flat 5% Royalty
Slide 144: Enhanced Security Platform Due to Scale in the Region
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: › Government › Military › Sec
Slide 145: The Senegalese Economy
GOLD PRODUCTION1, koz 712 694 SENEGAL SENEGAL 10% 581 612 561 604 578 SABODALA CAGR MASSAWA MAKABINGUI 408 THE SENEGALESE Mako DIAMBA SUD 262 289 303 306 361 ECONOMY BOTO 190 171 Birimian greenstone belt Endeavour Asset Senegal, has a reputation as Other Gold Asset Other Gold Project 2010 2011 2012
Slide 146: The Ivorian Economy
Birimian greenstone belt Endeavour Asset TONGON GOLD PRODUCTION1, Moz Endeavour Project / Advanced Exploration CÔTE Other Gold Asset 19% 2.4 KONE D’IVOIRE Other Gold Project LAFIGUÉ SEGUELA ASSAFOU CAGR 1.8 1.7 YAOURE 1.5 ABUJAR 1.3 THE IVORIAN ITY MINE Yamoussoukro 1.1 0.9 BONIKRO 0.8 0.8 0.8 ECONO
Slide 147: The Burkinabe Economy
Birimian greenstone belt Endeavour Asset GOLD PRODUCTION1, Moz INATA ESSAKANE Other Gold Asset BURKINA FASO Other Gold Project KARMA TAPARKO 7% 2.9 BOULY 2.7 BISSA CAGR 2.6 2.6 2.5 Burkina Faso BOMBORE 1.8 Ouagadougou 1.7 THE BURKINABE SANBRADO 1.5 BOUNGOU YARAMOKO MANA 1.3 1.3 1.2 KIAKA 1.1 ECONOMY
Slide 148: Appendix
APPENDIX FT / 26 EEE f
Slide 149: Management, Board, Corporate Structure & Remuneration Plans
01 APPENDIX 1 Management, Board, Corporate Structure & Remuneration Plans
Slide 150: 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 in 2019 Officer Development as a Director • 25+ years experience in s
Slide 151: Board Members
BOARD MEMBERS Srinivasan Venkatakrishnan Ian Cockerill Alison Baker Livia Mahler Alison Henwood1 Chair and Independent Executive Director Independent Independent Independent Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director John Munro Sakhila Mirza Naguib Sa
Slide 152: Corporate Structure
CORPORATE STRUCTURE Issuer Endeavour Mining plc Guarantor Non-Guarantor subsidiary 100% Mining License Endeavour Gold Corporation (Cayman) Restricted Group Exploration Permit 100% 100% 100% 100% 100% 100% Endeavour Canada Holdings Corporation Lafigue Holdings UK Limited Avnel Gold Mining Limited Ity
Slide 153: Short Term Incentive Plan
SHORT TERM INCENTIVE PLAN WEIGHTING 2026 MEASURES THRESHOLD TARGET MAXIMUM (%) Mine free cash flow 15% Better than the low end of guidance at $3,300/oz Mid-pint of Guidance at $3,300/oz Above of Guidance at $3,300/oz Production2 15% Above the bottom end guidance at 1,090koz Mid-point of guidance Bea
Slide 154: Long Term Incentive Plan
LONG TERM INCENTIVE PLAN 2026 MEASURES WEIGHTING (%) THRESHOLD TARGET MAXIMUM TSR – Performance 25% At the median (10th place) Interpolated Upper quartile (top 5) (Rank 1-20)1 Dividends2 25% Target less $250m $1,087.5m Target plus $250m Net debt3 10% ≤0.50x ≤0.50x ≤0.20x Exploration 15% 5Moz Resourc
Slide 155: Mine Statistics & Additional Information
02 APPENDIX 2 Mine Statistics & Additional Information
Slide 156: Mine Statistics (Quarterly)
MINE STATISTICS On a quarterly basis 1) Includes waste capitalized. 156
Slide 157: Mine Statistics (Full Year)
MINE STATISTICS On a full year basis HOUNDÉ ITY MANA SABODALA-MASSAWA LAFIGUÉ (on a 100% basis) FY-2025 FY-2024 FY-2025 FY-2024 FY-2025 FY-2024 FY-2025 FY-2024 FY-2025 FY-2024 Physicals Total tonnes mined – OP1 000t 50,352 43,116 32,152 30,419 — 930 34,607 43,478 54,040 37,151 Total ore tonnes – OP
Slide 158: Reserves and Resources, 5-year exploration target
03 APPENDIX 3 Reserves and Resources, 5-year exploration target
Slide 159: Reserves and Resources
RESERVES AND RESOURCES As of 31 December 2025, 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 160: Notes to Reserves and Resources
NOTES TO RESERVES AND RESOURCES As of 31 December 2025 160
Slide 161: Exploration Target Methodology
EXPLORATON TARGET METHODOLOGY Target screening to support operations and deliver tier 1 projects into the pipeline Endeavour’s large land position of more than 7,000km2 and comprehensive database over a very large number of exploration targets promotes the application of a general portfolio manageme
Slide 162: Contact Us
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