Jaguar Mining Inc. · TSX:JAG
Jaguar Mining — Investor Presentation (January 2026)
25 slides from Jaguar Mining's investor presentation, January 2026
Slide 1: Corporate Presentation
CORPORATE PRESENTATION JANUARY 2026 1 TSX:JAG OTCQX:JAGGF
Slide 2: Disclaimers and Cautionary Statements
DISCLAIMERS AND CAUTIONARY STATEMENTS This presentation (“Presentation”) does not constitute an offer of any securities for sale or a solicitation of an offer to purchase any securities, nor does it constitute investment advice or an offering memorandum. Readers should review this Presentation in co
Slide 3: Disclaimers and Cautionary Statements
DISCLAIMERS AND CAUTIONARY STATEMENTS Historical Information Illustrative Only Historical statements contained in this Presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. In this regard, certain financia
Slide 4: Who We Are: Mid-Tier Gold Producer in Brazil
WHO WE ARE: MID-TIER GOLD PRODUCER IN BRAZIL 1.66Moz @ 4.19 g/t Au M&I Resources1 MINAS GERAIS MINAS GERAIS 1.68Moz @ 3.56 g/t Au Inferred Resources1 BELO HORIZONTE CAETÉ COMPLEX Pilar Mine 764koz @ 4.02 g/t Au MTL COMPLEX Producing Global Reserves1 Turmalina Mine PACIÊNCIA COMPLEX Planned Restart S
Slide 5: Leadership Team Focused on Accelerating Growth
LEADERSHIP TEAM FOCUSED ON ACCELERATING GROWTH MANAGEMENT Luis Albano Tondo CEO +35 years international mining industry experience. Spent last 15 years working at C-level positions. Responsible for building the largest gold operation Naomi Nemeth in Brazil. VP Investor Relations 25+ years investor r
Slide 6: Leadership Team Focused on Accelerating Growth: Board of Directors
LEADERSHIP TEAM FOCUSED ON ACCELERATING GROWTH BOARD OF DIRECTORS Jeff Kennedy Mary-Lynn Oke Chairman and Director Director – Audit and Risk Benjamin Guenther Shastri Ramnath Director – Safety, Environment, Director – Technical and Technical & Reserve Exploration Luis Ricardo Miraglia Thomas S. Weng
Slide 7: 2025 Highlights
2025 HIGHLIGHTS TRANSITIONAL YEAR SETTING UP FOR FUTURE GROWTH ✓ Produced 40,254 ✓ Advanced toward ✓ Increased Proven ✓ Completed 20,814 ounces of gold restart of MTL & Probable metres of slightly above Complex – ANM Mineral Reserves definition, infill expected embargo lifted, by 63% and exploration
Slide 8: Three Pillars of Growth for Sustainable Value
THREE PILLARS OF GROWTH FOR SUSTAINABLE VALUE 1 2 3 MAXIMIZE LEVERAGE PURSUE CORE ASSETS EXPLORATION STRATEGIC & RESOURCES PORTFOLIO OPPORTUNITIES 8
Slide 9: Pilar - Consistent and Reliable Producer
PILAR - CONSISTENT AND RELIABLE PRODUCER KEY HIGHLIGHTS – Full Year 2025 ➢ 40,254 oz Au Production OPERATIONAL ➢ 370,253 Tonnes Milled ➢ 3.77 g/t Au Avg Head Grade ➢ 89% Recovery Source: Refer to press release from of January 14, 2026, titled “Jaguar Mining Inc. Reports Fourth Quarter and Full Year
Slide 10: Projected Annual Gold Production Growth
PROJECTED ANNUAL GOLD PRODUCTION GROWTH FROM EXISTING ASSETS ONLY Oz 140,000 Onças de Pitangui Production Start 120,000 MTL Complex1 Restart 100,000 in Q2 80,000 60,000 40,000 20,000 - 2025 2026 2027 2028 2029 2030 2031 2032 Pilar Turmalina Faina Onças de Pitangui Santa Isabel RG2 Source: Internal R
Slide 11: Onças de Pitangui Project
ONÇAS DE PITANGUI PROJECT Permitting on track for mid-2026 P&P (maiden): 284 koz @ 4.16 g/t Au Development to begin in H2 2026 M&I Resources*: 457 koz @ 4.01 g/t Au First ounces projected in H2 2027 Inferred Resources: 490 koz @ 3.64 g/t Au * M&I Resources are inclusive of 2P Reserves 40 kilometers
Slide 12: Large Mineral Position in the IQ
LARGE MINERAL POSITION IN THE IQ Turmalina Faina Pontal Zona Basal MTL COMPLEX Onças de Pitangui Aparição Cuiabá CAETÉ COMPLEX Lamego Roça Grande Córrego Brandão Juca Vieira Morro Velho Pilar São Bento/CDS II Córrego do Sítio/CDS I Santa Isabel Lavra Velha Chamé Boa Vista Bahú Morro da Mina PACIÊNCI
Slide 13: 5-Year Exploration Drilling Meters Planned
5-YEAR EXPLORATION DRILLING METERS PLANNED 2026 2027 2028 2029 2030 MAIN TARGETS MAIN TARGETS MAIN TARGETS MAIN TARGETS MAIN TARGETS Paciência Complex: Paciência Complex: Paciência Complex: Paciência Complex: Paciência Complex: Santa Isabel UG, Mazargão UG, Mazargão UG, Bahú, Mazarão UG, Mazargão UG
Slide 14: Chamé Bulk Open-Pit Mining Opportunity
CHAMÉ BULK OPEN-PIT MINING OPPORTUNITY CHAMÉ TRENCHES ➢ Trenches 100m spaced ➢ Old excavations with high grades inside ➢ Gap of trench sampling over old colonial excavations, where the Quartz-Sulfide gold high- grade veins were mined ➢ Highlights1: ▪ TR02: 54.47m at 0.90 g/t Au including 4.43m at 7.
Slide 15: Chamé Bulk Open-Pit Mining Opportunity
CHAMÉ BULK OPEN-PIT MINING OPPORTUNITY CMCH01 TR01 LITHO-ALTERATION 8.0m@0.33 g/t Au (23.0– 31.0m) CMCH02 42.0m@0.45 g/t Au (12.0–54.0m) CROSS-SECTION including: 25.0m@0.56 g/t Au (28.0–53.0m) and ➢ Open width and depth of TR 6.0m@0.93 g/t Au (34.0m–40.0m) gold low-grade envelop 01 100 . x CMCH03 33
Slide 16: Paciência Projected Upside in Resources
PACIÊNCIA PROJECTED UPSIDE IN RESOURCES All targets were assumed to have a minimum of 15 GT ~2.0-3.0 Moz Exploration targets1 FDEM aerial survey outlining shallow, low- angle conductive structures at the Chamé Chamé target, coincident with gold anomalies and confirmed hydrothermal alteration zones.
Slide 17: Drill Rig Operating at Chamé
DRILL RIG OPERATING AT CHAMÉ THREE HOLES COMPLETED, ASSAYS IN PROGRESS. FOURTH DRILL HOLE ONGOING 17
Slide 18: Pilar Directional Drilling
PILAR DIRECTIONAL DRILLING – Drilling planned start Q1/26 Note: (1) The potential quantity is conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the 18 delineation of a mineral resource.
Slide 19: Acquisition Rationale: Pursuing Strategic Opportunities in Brazil
PURSUING STRATEGIC OPPORTUNITIES IN BRAZIL Deepen footprint in Tier 1 Jurisdiction of Brazil ACQUISITION RATIONALE Clear path to production - ready to build Potential for strong synergies Para Accelerate production scale Mato Tocantins Grosso Diversify production portfolio Minas Gerais Expand and en
Slide 20: Relative Peer Valuation | Junior Gold Producers
RELATIVE PEER VALUATION | JUNIOR GOLD PRODUCERS P/NAV1 -24% Discount P/CF 2026E1 -17% Discount EV/EBITDA 20261 -17% Discount Aura 1.36x K92 7.91x K92 10.51x Pan African 1.22x Aura 6.31x Aura 7.61x Ora Banda 1.10x Catalyst 7.26x Andean 6.04x Wesdome 1.08x Andean 7.06x Kingsgate 5.78x G Mining 1.06x O
Slide 21: Investment Highlights
INVESTMENT HIGHLIGHTS EXPERIENCED ROBUST TIER-1 STRONG RESPONSIBLE LEADERSHIP STRATEGY JURISDICTION FINANCIALS MINING Proven track Multi-pillar Operating in Cash flow from Commitment to record in the growth approach Brazil's mining- operations to ESG principles, mining industry for consistent friend
Slide 22: Capital Markets Profile
CAPITAL MARKETS PROFILE CAPITAL STRUCTURE1 SHARE PRICE | LAST 12 MONTHS $12 Common shares outstanding 85,261,125 Volume (M) Share Price (C$) 1.2 $10 Share price (as of January 23, 2026) C$9.08 Share Price in (C$) 1.0 $8 Volume (M) Market Capitalization C$774M 0.8 $6 0.6 Fully diluted shares outstand
Slide 23: Upcoming Catalysts
UPCOMING CATALYSTS H1 H2 2027 2028 2026 2026 • ODP portal • Planned start of • MTL Complex restart construction starts resource estimate for new priority • Chamé drilling • Santa Isabel exploration targets • ODP at full capacity results production ramp up • Planned production • All mines & plants at
Slide 24: Contact Us
CONTACT US TORONTO 25 Adelaide Street East Suite 1400 Toronto, Ontario M5C 3A1 T: +1-647-465-2470 E: investors@jaguarmining.com BRAZIL Jaguar Mining Inc. R. Andaluzita, 131 - 7th floor 30310-030 Belo Horizonte - Minas Gerais T: +55 31 3232-7101 TSX:JAG | OTCQX:JAGGF
Slide 25: Reserves and Resources (as at Dec. 31, 2024)
RESERVES AND RESOURCES (as at Dec. 31, 2024) PROJECT TONNAGE AU GRADE CONTAINED AU Kt g/t Koz Pilar 1,536 3.89 192 Turmalina 1,225 3.26 128 P&P Faina 1,019 4.87 160 Onças de Pitangui Project 2,122 4.16 284 Total 5,903 4.02 764 Pilar 3,144 4.3 435 Roça Grande 962 3.9 121 Turmalina 2,875 3.9 360 M&I1