Galiano Gold, Inc. · TSX:GAU

Galiano Gold — Q3 2025 Earnings Presentation

23 slides from Galiano Gold's earnings presentation, Nov 7, 2025

  1. Slide 1: Q3 2025 Financial & Operating Results

    Q3 2025 Financial & Operating Results November7, 2025 © Copyright 2025 Galiano Gold. All rights reserved.

  2. Slide 2: Forward Looking Information & Cautionary Statements

    Forward Looking Information & Cautionary Statements Certain statements and information contained in this presentation constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities l

  3. Slide 3: Non-IFRS Measures

    Non-IFRS Measures Non-IFRS Performance Measures  The Company has included certain non-IFRS performance measures in this presentation. These non-IFRS performance measures do not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Accordin

  4. Slide 4: Participating Management

    Participating Management Matt Badylak Matt Freeman President & Chief Chief Financial Executive Officer Officer Michael Cardinaels Chris Pettman Chief Operating Vice President Officer Exploration 4

  5. Slide 5: Quarter-on-Quarter Growth

    Quarter-on-Quarter Growth Metric Q3 2025 Q2 2025 Change Lost-time injuries Nil Nil - Gold produced (oz) 32,533 30,350 +7% Revenue ($m) $114.2 $97.3 +17% Cash flow from $40.4 $35.8 +13% operations ($m) Cash and cash $116.4 $114.7 +2% equivalents ($m)(1) AISC ($/oz sold)(2) $2,283 $2,251 +1% Abore Met

  6. Slide 6: Temporary Pause at Esaase

    Temporary Pause at Esaase Timeline Moving Forward  Early in Q3 2025 – Ministry of Defense and Ghana Armed  Tensions reduced, order restored, and no further incidents. Forces established an operating base at the AGM.  Haulage from low-grade Esaase stockpiles resumed ~1 week  Part of state-coordin

  7. Slide 7: Q3 Mining Overview

    Q3 Mining Overview Total Tonnes Mined Health & Safety 16 14  No lost-time injuries (“LTI”) and 1 total recordable injury (“TRI”). 12 Million Tonnes  12‐month rolling LTI and TRI frequency rates as of September 30, 2025 of 0.39 10 8 and 0.90 per million hours worked. 6 Abore 4 2  1.3 Mt ore mined

  8. Slide 8: Nkran Progress

    Nkran Progress  Development of Cut 3 at the Nkran deposit continued to ramp up with 3.6 Mt of material mined during Q3 2025, an increase of 111% compared to Q2 2025.  Capitalized development pre-stripping costs at Nkran Cut 3 of $12.0 million during Q3 2025, and $22.1 million year-to-date.  Minin

  9. Slide 9: Q3 Processing Update

    Q3 Processing Update Metric Unit Q3 2025 Q2 2025 Change Tonnes treated Mt 1.3 1.2 + 8% Mill head grade g/t 0.9 0.8 + 6% Recovery % 91 89 + 1% Gold produced oz 32,533 30,350 + 7% Gold sold oz 32,577 29,287 + 11%  Since commissioning of the secondary crusher, millings rates at the end of Q3 2025 had

  10. Slide 10: Q3 2025 Consolidated Financial Metrics

    Q3 2025 Consolidated Financial Metrics Q3 2025 Results Revenue Income from Mine Operations $114.2 M $48.2 M AISC(1) Adj. EBITDA(1) $2,283/oz $37.8 M Cash Flow From Operations Adj. Net Loss/Share(1) $40.4 M $0.01 Closing Cash Balance $116.4 M 10 (1) Refer to Non-IFRS Performance Measures

  11. Slide 11: Q3 Costs In Line

    Q3 Costs In Line Mining Mining Cost per Tonne and Total Tonnes Mined Trailing 4 Quarters  Abore & Esaase mining cost = $3.36/t compared to $3.65/t in Q2 2025 (8% 16,000 $4.50 14,000 lower) Mining Cost ($/t) $4.00 12,000 Tonnes (000s) 10,000  Ore transportation costs = $4.35/t; 1.3Mt ore trucked fr

  12. Slide 12: Maintaining Strong Cash Balance

    Maintaining Strong Cash Balance 118 1,000 116 116 115 800 823 AISC Margin after hedging losses** ($/oz) 114 701 600 Consolidated Cash* (US$M) 112 400 110 108 150 200 106 106 106 - 104 (201) (200) 102 100 (400) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Cash balance AISC margin after hedging losses * Cash unaud

  13. Slide 13: Q3 2025 Exploration Update

    ~$13M Q3 2025 Exploration Update 2025 Exploration Budget Abore Infill  Phase 2 infill drilling program was completed at Abore, with multiple new high- grade ore shoots identified across the Abore South and Main zones, while also revealing a significant new high-grade discovery at Abore North (see p

  14. Slide 14: Abore Gram Meter Long Section of Recent Drilling: Grades Increasing

    Abore Gram Meter Long Section of Recent Drilling: Grades Increasing 14

  15. Slide 15: Abore Q3 Results

    Abore Q3 Results Plan map of Abore Q3 2025 results showing significant intercepts 15

  16. Slide 16: Abore – Q3 Results

    Abore – Q3 Results Cross Section N-N1 showing hole ABPC25-368  Results announced in Q3 show significant high-grade mineralized intercepts below the Abore Mineral Resource  Cross section at right is one example showing position of newly identified mineralization relative to the Mineral Resource in

  17. Slide 17: Abore: Targets for H2 2025

    Abore: Targets for H2 2025  Following excellent H1 2025 drilling results, an aggressive campaign of 150m continued drilling will be ongoing throughout at least the remainder of 2025  Drilling will focus on conversion of Resources and testing for further continuations of mineralization 17

  18. Slide 18: Building on Strong Fundamentals

    Building on Strong Fundamentals Outlook Financial Exploration Mining Processing Location Valuation  8-year Mine Life,  Strong cash  Underexplored  Ahead of pre-  Secondary  Largest single  Currently trading not incorporating balance of 476 km2 land strip schedule at crusher project asset prod

  19. Slide 19: Appendix

    Appendix G GALIANO GOLD

  20. Slide 20: AGM Mineral Reserve Estimate as of December 31, 2024

    AGM Mineral Reserve Estimate as of December 31, 2024 Proven Probable Total Proven and Probable Deposit Tonnes Au Grade Au Content Tonnes Au Grade Au Content Tonnes Au Grade Au Content (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) Nkran 10.6 1.67 571 10.6 1.67 571 Esaase 13.6 1.22 533 13.6 1.22

  21. Slide 21: AGM Mineral Resource Estimate as of December 31, 2024

    AGM Mineral Resource Estimate as of December 31, 2024 Measured Indicated Measured + Indicated Inferred Deposit Tonnes Grade Au Contained Tonnes Grade Au Contained Tonnes Grade Au Contained Tonnes Grade Au Contained (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) Nkran 16.3 1.81 9

  22. Slide 22: Tax

    Tax Ghana corporate tax regime Corporate income tax Withholding taxes  Rate 35% for mining (general rate 25%)  Charged on purchases from foreign suppliers; rates depend  Capital expenditure amortized over 5 years on country of domicile, and type of service, but typically range from 10% to 20%  O

  23. Slide 23: Contact

    Contact N. American Toll-Free: 1-855-246-7341 Email: info@galianogold.com © Copyright 2025 Galiano Gold. All rights reserved.

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