Endeavour Mining Plc · TSX:EDV
Endeavour Mining — Investor Presentation (December 2025)
153 slides from Endeavour Mining's investor presentation, December 2025
Slide 1: Corporate Presentation December 2025
CORPORATE PRESENTATION December 2025 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 general economic conditions and the impact of credit availability on the timing of cash flows and the measures, including sustaining capital per ounce, non-sustaining ca
Slide 4: Endeavour Overview
ENDEAVOUR OVERVIEW 1
Slide 5: Endeavour Has an Unmatched Competitive Advantage
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: Relative to Other Gold Producers
RELATIVE TO OTHER GOLD PRODUCERS FY-2025 Production Guidance 7Moz 6Moz 5Moz 4Moz PEER 3Moz BENCHMARKING 2Moz 1Moz 0Moz Barrick Newmont IAMGOLD Eldorado Agnico Eagle Kinross Gold Fields Northern Star Lundin Gold1 Centerra Harmony B2Gold Anglogold Alamos Endeavour SSR Mining Endeavour is attractive re
Slide 7: Company Profile
COMPANY PROFILE Highlights Top shareholders Shareholder register as at 30 September 2025 Ticker LSE | TSX: EDV, OTXCQ: EDVMF Shares outstanding as at 31 October 2025 241m Rank Institution name % of S/O 1 BlackRock, Inc. 16.8 Share price as at 31 October 2025 £30.74 / C$56.19 2 La Mancha 14.7 Market
Slide 8: 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 9: 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 10: 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 0.05 LTM LTIFR compared to an Industry average
Slide 11: On Track to Meet Full Year Guidance
ON TRACK TO MEET FULL YEAR GUIDANCE OPERATIONAL EXCELLENCE Strong Q4-2025 performance expected TOP HALF of FY-2025 production guidance range 0.05 1.14 GROUP SAFETY LTIFR Last Twelve Months Industry Average1 TOP HALF of FY-2025 production 911 1,110 1,260 guidance range GROUP PRODUCTION2 koz YTD FY-20
Slide 12: Operational Excellence: Guidance Track Record
OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE Strong track record of achieving or beating guidance Production Guidance Track Record Production Guidance 1,536koz 1,400koz 1,365-1,495koz 1,315-1,400koz 11 years Out of last 12 beating or 1,066koz 1,072koz 1,110-1,260koz achieving production guidance 1,
Slide 13: Operational Excellence: All-In Sustaining Margin
OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE Strong all-in sustaining margins underpinned by low-cost production All-In Sustaining Margin Track Record All-In Sustaining Margin Gold Price 58% 58% AISM (%) 52% 53% 50% 50% $3,221/oz 48% 39% 40% 36% 28% All-In Sustaining Margin 19% 20% 18% $2,349/oz YT
Slide 14: Organically Growing Production
ORGANICALLY GROWING PRODUCTION OPERATIONAL EXCELLENCE Production ORGANICALLYgrowth to 1.5Moz GROWING with class-leading costs PRODUCTION Production from continuing operations Production from continuing operations 35% DEBT REDUCTION FUND GROWTH AND DELEVERAGING AND FUND GROWTH AND FOCUS DELIVER SHARE
Slide 15: Strong Construction Track Record
STRONG CONSTRUCTION TRACK RECORD OPERATIONAL EXCELLENCE Leveraging our in-house construction expertise TRACK RECORD HOUNDE 18 month LAFIGUÉ 21 month Delivered on-schedule in Construction Construction <24 months 2week 2month Ramp-up Ramp-up Delivered on or below budget 4.0mtpa 3.0mtpa Nameplate Namep
Slide 16: 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 long-life, low-cost assets 2,100 with production abo
Slide 17: 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 18: 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 19: 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 20241 12-15Moz Risked Mean Indicated Resource Discovery Target 5-year (2026 – 2030) Mineral resource discov
Slide 20: 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 ~$108m Greenfield 36% 20% Average annual Senegal exploration expendit
Slide 21: Exploration Track Record
EXPLORATION TRACK RECORD UNLOCKING EXPLORATION 20.7Moz of M&I resources discovered since mid-2016 Total M&I resource discoveries M&I resources discovered Exploration spend 9% 12.4 Group M&I resource grade 20.7Moz % of total M&I discoveries 1.9Moz Discovered 19% 4.0Moz Moz 14% M&I resources 17% 3.0Mo
Slide 22: Exploration Track Record
EXPLORATION TRACK RECORD UNLOCKING EXPLORATION 20.7Moz discovered across two successful exploration programmes M&I discoveries M&I resource as at 31 December 2015 M&I discovered - 2016 -2021 programme M&I discovered - 2021 - 2025 programme 3.1Moz 1.2Moz <$ 25/oz Discovery cost 1.7Moz 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 2025 Guidance: HOUNDÉ MINE M&I resources: M&I resources: 230-260koz production at KARI AREA DEPOSITS $19/oz
Slide 24: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION PFS confirms Assafou’s potential as tier 1 asset for Endeavour Production profile Production (koz) AISC ($/oz) PRE-FEASIBILITY STUDY KEY METRICS 400 2,000 Target production of +350koz 350 329koz $892/oz +15year 4.1Moz 300 250 1,500 Production AISC
Slide 25: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION Developing a tier 1 mining complex INSIGHTS › Tier-1 discovery is expected to become the Group’s next 4.6Moz cornerstone asset › 4.6Moz resource outlined in approximately 2 years at a low discovery cost of $11 per Indicated ounce › DFS is on track
Slide 26: Assafou Project: Tanda-Iguela Satellite Targets
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION Unlocking satellite targets at Tanda-Iguela W 9 Targets within 6km of Assafou +20km Assafou mineralisation strike length 26
Slide 27: Strong Free Cash Flow Generation
STRONG FREE CASH FLOW GENERATION Delivering on free cash flow inflection after completion of growth projects Free Cash Flow and Free Cash Flow per ounce Free Cash Flow FCF/oz1 $680m 635/ozm 746 $+$ Free Cash Flow $431m Free Cash Flow per ounce YTD-2025 vs YTD-2024 YTD-2025 $362m $407/oz $346/oz $130
Slide 28: Healthy Financial Position
HEALTHY FINANCIAL POSITION Leverage, net and gross debt improved during the quarter Evolution of leverage Net debt / LTM adjusted EBITDA 0.21x DELEVERAGING AND INCREASING SHAREHOLDER RETURNS After commissioning growth projects during Q3-2024 0.77x Net debt / LTM Adj. EBITDA as at 30 September 2025 0
Slide 29: Shareholder Returns Programme
SHAREHOLDER RETURNS PROGRAMME Delivering sector leading shareholder returns Shareholder returns programme Returns Share buybacks Minimum dividend Production Supplemental dividend Supplemental shareholder returns $66/oz $181/oz $212/oz $227/oz $251/oz $ 233m Returned to shareholders $299m YTD-2025 $2
Slide 30: Shareholder Returns Programme
SHAREHOLDER RETURNS PROGRAMME Updated shareholder returns programme expected in Q1-2026 Cumulative shareholder returns Supplemental Returns Supplemental Shareholder Returns Minimum Returns $1,180m $1,413m $ 1.4bn Returned to shareholders $640m2 since Q1-2021 $903m $520m $637m $453m $338m $213m $362m
Slide 31: 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 32: Being a Trusted Partner
BEING A TRUSTED PARTNER Sustainability efforts underpin top ESG ratings Sustainalytics scores1 Low Endeavour MSCI rating evolution2 High 7% Endeavour (2025) 21% Endeavour (2024) Gold 2025 AA Endeavour (2023) Producer Risk Newmont Rating 2024 AA Barrick 71% Eldorado Medium Agnico Eagle 2023 AA IAMGOL
Slide 33: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 2
Slide 34: Q3 & YTD-2025 Highlights
Q3 & YTD-2025 HIGHLIGHTS Delivering against our strategic objectives Operational Advancing Delivering Performance Organic Growth Exploration Success YTD-2025 2025 Guidance Environmental permit $72m spend in YTD-2025 with over approved in Q3-2025 251km drilled Production 911koz 1,110 – 1,260koz +$103
Slide 35: On Track to Achieve Full Year Guidance
ON TRACK TO ACHIEVE FULL YEAR GUIDANCE Solid operating performance in line with the mine sequence Production and All-In Sustaining Margin Production, koz All-In Sustaining Margin, US$/oz Q3-2025 production impacted Realised by the wet season and lower 363koz 42koz Gold Price1 grade profiles, in line
Slide 36: Financial Highlights
FINANCIAL HIGHLIGHTS Solid operational and financial performance in Q3-2025 QUARTER ENDED 30 Sep 30 Jun 30 Sep Q3-2025 vs. (in $ million unless otherwise stated) 2025 2025 2024 Q2-2025 OPERATIONAL HIGHLIGHTS Gold Production, koz Gold Sold, koz Total Cash Cost1, $/oz All-in Sustaining Cost1, $/oz 264
Slide 37: Adjusted EBITDA
ADJUSTED EBITDA Adj. EBITDA remains robust Adj. EBITDA Adj. EBITDA Realised Gold Price1 16% $613m $546m $556m - $466m Adj. EBITDA Q3-2025 vs Q2-2025 $317m 466m $ Adj. EBITDA $2,342/oz $2,590/oz $2,783/oz $3,150/oz $3,247/oz In Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 1) The realised gold pric
Slide 38: Operating Cash Flow
OPERATING CASH FLOW Improved operating cashflow during Q3-2025 Operating cash flow and tax payments Operating cashflow Cash tax payments Realised 56m Gold Price1 $39m +$ $17m Operating cash flow $233m Q3-2025 vs Q2-2025 $67m $65m $494m 22% $381m $308m $255m $252m + Operating cash flow $2,342/oz $2,5
Slide 39: Operating Cash Flow Bridge
OPERATING CASH FLOW BRIDGE Improved operating cashflows due to lower taxes and higher gold prices INSIGHTS Operating cash flow bridge 1. The realised gold price, inclusive of realised losses on gold hedges as part of the Group’s Revenue Protection Programme, increased by $41m $308m $97/oz from $3,15
Slide 40: Free Cash Flow
FREE CASH FLOW Strong free cash flow generated since completion of growth projects Free Cash Flow Operating Cashflow Free Cash Flow Investing Cashflow $381m $494m +$ 62m Free Cash Flow $409m $308m Q3-2025 vs Q2-2025 $255m $252m $268m $97m $166m ($113m) ($85m) $104m ($148m) ($143m) 629/oz $ Free Cash
Slide 41: Net Earnings from Operations
NET EARNINGS FROM OPERATIONS Continued strong adjusted earnings INSIGHTS 3 MONTHS ENDED 1. The loss on financial instruments of $49m in Q3-2025 30 Sep 30 Jun (in $ million) A = Adjustments made for Adjusted Net Earnings included a $69m realised loss on the settlement of 50koz 2025 2025 of gold colla
Slide 42: Debt Structure
DEBT STRUCTURE Significant reduction in gross debt following full repayment of RCF Change in debt drawn INSIGHTS ($m) Interest Rate Maturity 30 Sep 2025 30 Jun 2025 30 Sep 2024 › Given strong free cash flow generation through H1- 2025, the Group repaid $472m on the RCF during Q3- $500m Senior Notes
Slide 43: Stable Credit Rating
STABLE CREDIT RATING S&P credit rating is capped by sovereign rating S&P long-term foreign currency debt credit ratings Cote d’Ivoire BB BB- Endeavour BB- S&P rating Senegal B- Stable Outlook across all Burkina Faso CCC+ jurisdictions 43
Slide 44: Short Term Revenue Protection Programme
SHORT TERM REVENUE PROTECTION PROGRAMME Increased certainty of cash flows during growth and debt reduction phases INSIGHTS Gold collars Gold price in US$/oz › In Q3-2025, approximately 50koz were 4,000.00 delivered into a collar with an average call price of $2,400/oz and an average put price 3,800.
Slide 45: Tackling Inflationary Pressures
TACKLING INFLATIONARY PRESSURES Stable cost base supporting improving margins INTERNAL FACTORS IMPACTING AISC EXTERNAL FACTORS IMPACTING AISC CONTRACTORS ROYALTIES Multiyear contracts in place ~20% ~22% Government royalty rates vary on mining contractors at Ity between 5 - 10% by country and and Man
Slide 46: FY-2025 Guidance
FY-2025 GUIDANCE Capital Expenditure Guidance FY-2025 FY-2025 YTD-2025 PREVIOUS UPDATED (All amounts in US$m) GUIDANCE GUIDANCE Production Guidance Houndé 28 40 40 Ity 21 20 25 (All amounts in koz, on a 100% YTD-2025 FY-2025 GUIDANCE Mana 70 60 75 basis) Sabodala-Massawa 37 60 45 Houndé 209 230 — 26
Slide 47: Our High Quality Portfolio
OUR HIGH QUALITY PORTFOLIO 3
Slide 48: Safety Performance
SAFETY PERFORMANCE Continued industry leading safety record LTIFR and hours worked Hours Worked (Millions, 12 month trailing basis) LTIFR (12 month trailing basis)1 42.4m 39.4m 38.0m 38.1m 39.4m 0.05 LTIFR in Q3-2025 0.13 0.12 0.05 0.05 0.05 No LTIs In Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025
Slide 49: Diversified Portfolio
DIVERSIFIED PORTFOLIO P&P RESERVES M&I RESOURCES 2024 Actuals 2025 Guidance as at 31 Dec 2024 as at 31 Dec 2024 ASSET COUNTRY PRODUCTION AISC PRODUCTION AISC CONTAINED GRADE CONTAINED GRADE (koz) (US$/oz) (koz) (US$/oz) GOLD (Moz) (g/t) GOLD (Moz) (g/t) Houndé Burkina Faso 288 1,294 230 – 260 1,225
Slide 50: YTD-2025 Performance vs Guidance
YTD-2025 PERFORMANCE VS GUIDANCE Group on track to achieve top half of production guidance with AISC in line OUTLOOK YTD-2025 Production vs Guidance OUTLOOK YTD-2025 AISC vs Guidance ON ON $975/oz $1,100/oz Ity YTD YTD TRACK TRACK 245koz 290 - 330koz $1,099/o z $1,225/oz $1,375/oz TOP ON Houndé YTD
Slide 51: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Senegal 250-280koz $1,100-1,250/oz 3.26Moz 5.19Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Sabodala-Massawa complex has potential to become a Construction of the Sabodala-Massawa expansio
Slide 52: Sabodala-Massawa Mine: Overview
SABODALA-MASSAWA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • BIOX throughput optimisation targeting +10-15% Resources shown Tonnage Grade Content inclusive of Reserves (on a 100% basis) (Mt) (Au g/t) (Au koz) • Exploring for new high-grade CIL ore sources on newly
Slide 53: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE BIOX recoveries and grade continue to improve Q3-2025 vs Q2-2025 INSIGHTS Production and AISC1 Production, koz AISC, US$/oz 70koz 72koz › Production decreased slightly due to lower average 62koz 61koz grades processed. 54koz › AISC increased due to higher BIOX reagent consumpti
Slide 54: 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 55: Sabodala-Massawa: No Change to Mineral Endowment
SABODALA-MASSAWA MINE No change to mineral endowment following internal and external review INSIGHTS Sabodala-Massawa Reserves & Resources N Non-refractory Tonnage Grade Content Refractory › The technical review evaluated the existing reserves and N Kiesta OP R (Mt) (Au g/t) (Au koz) P&P Reserves 2,
Slide 56: Unlocking BIOX Throughput and Recoveries
SABODALA-MASSAWA MINE Unlocking BIOX throughput and recoveries INSIGHTS BIOX processing history Throughput, kt Recovery, % BIOX Throughput: Q4-2024 recoveries 82.0% impacted by scheduled plant shutdowns to connect the 78.3% › Throughput is targeting 15% above design nameplate by Q1-2026. 75.3% solar
Slide 57: Scoping Underway for Underground Expansion
SABODALA-MASSAWA MINE Scoping underway for high-grade underground expansion INSIGHTS Underground reserves and resources As at 31 December 2024 › Feasibility level scoping work is underway to update Tonnage Grade Content (kt) (Au g/t) (Au koz) the Sabodala-Massawa underground mine plan. Total Sabodal
Slide 58: Near Term Exploration Focussed on 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 59: 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 60: 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 61: 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 62: 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 63: 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 64: Kawsara
KAWSARA Expected to provide near-term CIL ore 64
Slide 65: 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 66: Ity Mine
ITY MINE Côte d’Ivoire 290-330koz $975-1,100/oz 3.55Moz 5.42Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Ity mine is one of Endeavour’s cornerstone assets. It has the The CIL plant was successfully built ahead
Slide 67: Ity Mine: Overview
ITY MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 Tonnage Grade Content • Continued inclusion of new discoveries, including Le Plaque, to Resources shown (Mt) (Au g/t) (Au koz) provide greater mining and processing flexibility. inclusive of Reserves (on a 100% basis)
Slide 68: Ity Mine: Lower Grades in H2-2025
ITY MINE Lower grades in H2-2025 in line with the mine sequence Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower average grades milled, partially offset by higher mill throughput, while recovery rates remained broadly consistent with Q2
Slide 69: Ity Exploration Overview
ITY EXPLORATION OVERVIEW Focussed 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 70: 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 71: 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 72: Gbampleu
GBAMPLEU Promising target on the Toulepleu-Ity greenstone belt 72
Slide 73: 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 74: Houndé Mine
HOUNDÉ MINE Burkina Faso 230-260koz $1,225-1,375/oz 2.64Moz 3.27Moz As at As at 2025 Guidance 2025 Target 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Houndé mine is one of Endeavour’s The goal is to delineate sufficient additional resources cornerstone
Slide 75: Houndé Mine: Overview
HOUNDÉ MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Greater mining flexibility with multiple available ore sources Resources shown Tonnage Grade Content (Mt) (Au g/t) (Au koz) following stripping at Vindaloo and the incorporation of Kari Pump inclusive of Reserves
Slide 76: Houndé Mine: Lower H2-2025 Tonnes and Grades
HOUNDÉ MINE Lower H2-2025 tonnes and grades in line with the mine sequence Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower tonnes mined and milled due to the impact of the wet season and slightly 109koz lower grades processed in line w
Slide 77: Houndé Exploration Overview
HOUNDÉ EXPLORATION OVERVIEW Focussed 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 Kari Fa
Slide 78: 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 79: Mana Mine
MANA MINE Burkina Faso 160-180koz $1,550-1,750/oz 0.68Moz 1.72Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Mana mine is located in the northern part Recent discoveries resulted in the development of of the high
Slide 80: Mana Mine: Overview
MANA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Mine life extensions through open pit and underground exploration Tonnage Grade Content Resources shown (Mt) (Au g/t) (Au koz) • Increasing development rates across three portals at Wona and one inclusive of Reserve
Slide 81: Mana Mine: Improved Grades Expected in Q4-2025
MANA MINE Improved grades expected in Q4-2025 Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower grades processed, 46koz partially offset by higher tonnes of ore milled while 41koz 41koz 39koz recovery rates remained stable. › AISC increa
Slide 82: 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 82
Slide 83: 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 84: Lafigué Mine
LAFIGUÉ MINE Côte d’Ivoire 180-210koz $950-1,075/oz 2.36Moz 2.90Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Lafigué mine is Endeavour’s newest cornerstone asset. It Construction began in Q4-2022 with first gol
Slide 85: Lafigué Mine: Throughput Exceeding Nameplate
LAFIGUÉ MINE Throughput continues to exceed design nameplate Q3-2025 vs Q2-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to a decrease in mill 60koz throughput and average grades processed, while recovery rates remained stable. 49koz 48koz › AISC increased
Slide 86: Lafigué Mine: Long Life and Low AISC
LAFIGUÉ MINE Long life and low AISC operation Lafigué production plan DFS Production DFS AISC 300koz 250koz $2,000/oz 203Koz $1,600/oz Average annual Target production of +200koz production over LOM 200koz $1,200/oz 150koz 100koz $800/oz $400/oz +33% 50koz Incremental production over the PFS 0koz Ye
Slide 87: 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 88: Assafou Project
ASSAFOU PROJECT Côte d’Ivoire 329koz $892/oz 4.1Moz 4.6Moz As at As at First 10 years First 10 years 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Assafou project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities of the
Slide 89: Assafou Project PFS Economics
ASSAFOU PROJECT Côte d’Ivoire ASSAFOU PROJECT PFS ECONOMIC SENSITIVITY ASSAFOU PROJECT PFS SUMMARY OPERATION TYPE Gold Price $1,500/oz $1,900/oz $2,000/oz $2,500/oz Mine type Open Pit PRE-TAX Plant type 5.0Mtpa Gravity / CIL Plant NPV5%, $m 860 1,882 2,148 3,408 RESERVES & RESOURCES1 IRR, % 18 31 34
Slide 90: Assafou Project: Tanda-Iguela Property
ASSAFOU PROJECT Tanda-Iguela Property, Côte d’Ivoire 90
Slide 91: Assafou Project: DFS and Permitting Update
INSIGHTS › PFS, based on 31 October 2023 cut-off was completed in December 2024. › Definitive Feasibility Study ("DFS") was immediately launched with key updates Côte d’Ivoire ASSAFOU PROJECT on critical path items outlined below: › Lycopodium, the lead consultant for the DFS and Endeavour’s EPC or
Slide 92: Assafou Project
INSIGHTS › 4.6Moz Indicated resource outlined in approximately two years after discovery at a low discovery cost of $11 per indicated ounce Côte d’Ivoire ASSAFOU PROJECT › Tanda-Iguela property has the potential to become another cornerstone asset for Endeavour › Assafou deposit is amenable to open
Slide 93: 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 SW Pala Koumenagare Gbokore-Guiende Corridor TARGET SCREENING Bubble size represe
Slide 94: Assafou: Resource Growth Expected
ASSAFOU Resource growth expected at the Assafou deposit INSIGHTS Assafou deposit map › During Q2 and Q3-2025, infill drilling on the Assafou deposit was completed and confirmed the existing resource model, providing increased confidence in the initial phases of ore mining planned at the deposit. › A
Slide 95: Assafou: Resource Growth Expected
ASSAFOU Resource growth expected at the Assafou deposit 95
Slide 96: Pala Trend 2
PALA TREND 2 Near-surface mineralisation to supplement near-term production at the Assafou project INSIGHTS Pala Trend 2 deposit map › Drilling at Pala Trend 2 commenced in FY-2024, identifying a 3km long mineralised trend at contact between Tarkwaian sediments and the Birimian basement. › Over 3,33
Slide 97: Pala Trend 2
PALA TREND 2 Near-surface mineralisation to supplement near-term production at the Assafou project 97
Slide 98: Pala Trend 3
PALA TREND 3 Near-surface mineralisation to supplement near-term production at the Assafou project 98
Slide 99: Koulou Gold Investment
INSIGHTS › Endeavour has strategically invested $6.8m in Koulou Gold for a 19.07% ownership stake, through two Côte d’Ivoire KOULOU GOLD INVESTMENT investments on 29 May 2024 and 12 March 2025. Koulou Gold has three high priority projects: Assuéfry project › The Assuéfry property is located immediat
Slide 100: 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 101: 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 2017 2013 2014 2015 2016 2018 2019 2020 2021 2022 2023 2024 largest economy. While it has long relied on energy POLITICAL ECONOMIC RESOURCE EXPORTS3 exports, min
Slide 102: Kalana Project
QUICK FACTS (100% BASIS) based on 2021 PFS RESERVES AND RESOURCES as at 31 December 2024 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 103: 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 104: Greenfield Siguiri Licenses
104 GREENFIELD SIGUIRI LICENSES Guinea
Slide 105: Working as a Trusted Partner
WORKING AS A TRUSTED PARTNER 4
Slide 106: 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 107: 2024 Sustainability Report Highlights
WORKING AS A TRUSTED PARTNER 2024 Sustainability Report highlights continued sector leading ESG performance 2024 SUSTAINABILITY REPORT HIGHLIGHTS $2.2B 0.63 tCO2E/oz 0.13 Economic Contribution Class-leading Lost Time Injury to host countries emissions intensity Frequency Rate ISO 45001 $1.4B 632ha &
Slide 108: Continuous Improvement in ESG Ratings
CONTINUOUS IMPROVEMENT IN ESG RATINGS Reflecting increased transparency, disclosure and engagement C+ Severe AA AA AA AA C A Medium C- C- BBB Low Low 2019 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 B 62 54 B- 53 54 49 C C C 45 42 39 D- 2019 2020 2021 20
Slide 109: Towards Net Zero
TOWARDS NET ZERO INSIGHTS › Net Zero ambition for Scope 1 and 2 emissions by 2050 Emissions Intensity target of 2025 › Medium-term target: 30% reduction in Scope 1 and 2 intensity by 2025 <600tCO2e/oz › These targets are aligned with the Paris Agreement (< 2°C global warming) 30% reduction in CO2-e/
Slide 110: Energy Sources
ENERGY SOURCES SNAPSHOT OF OUR POWER SOURCES AND OPPORTUNITIES Senegal Côte d’Ivoire Burkina Faso Country Profile Country Profile Country Profile • 79% Fossil, 21% Renewables (Solar, Wind, Hydro) • Well-developed national infrastructure • 68% Imported, 32% Domestic Production Mines & Main Power Sour
Slide 111: Water Stewardship
WATER STEWARDSHIP Water stress index INSIGHTS › 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 increased to 11.8 KL/oz due to increased water 20-
Slide 112: 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 113: Protecting the Environment
PROTECTING THE ENVIRONMENT PROTECTING INSIGHTS THE ENVIRONMENT TARGETS › We are committed to protecting and conserving nature and biodiversity. Protect 540 hectares and rehabilitate 150 2025 › Our Environmental policy includes a commitment to No Net Loss of Critical Habitat. hectares Group-wide › In
Slide 114: Creating Jobs & Upskilling Talent
CREATING JOBS & UPSKILLING TALENT Our workforce INSIGHTS Our employees, by origin Female employees Nationals Female contractors › Total workforce of 13,491 including 5,126 Local Communities Male employees employees & 8,365 contractors. Expatriates Male contractors › 40% of our General Managers are W
Slide 115: Boosting Host Economies
BOOSTING HOST ECONOMIES INSIGHTS FY-2024 Procurement budget FY-2024 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 116: Community Engagement
COMMUNITY ENGAGEMENT Case study INSIGHTS › 1,925 community consultations held during 2024 › Range of income-generating activities in place, with a focus on the youth and women › 256 grievances received in 2024, an increased of 45% compared to the 177 received in 2023, largely due to issues regarding
Slide 117: 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. 46 Birth Certificates Lvolution Academy University 856 Job Experience Supporting disabled & (site initia
Slide 118: Targeting Zero Harm
TARGETING ZERO HARM INSIGHTS Lost time injury frequency (LTIFR) All injury frequency rate (AIFR) › Reported 0.73 TRIFR, well below industry -50% -25% benchmark. 0.26 3.66 3.47 › Achieved ISO 45001 and ISO 14001 0.20 2.77 2.86 2.74 certification. 0.13 › Malaria incidence rate reduced 36% to 184 follo
Slide 119: 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% traditions. 11% › We are addressing this bias by actively promoting gender equa
Slide 120: Ethical Business
ETHICAL BUSINESS INSIGHTS TARGETS › Zero substantiated reports of bribery, corruption, human rights or modern slavery Implement Modern slavery supplier 2025 › Set out Group’s 3-year human rights roadmap self-certification › Achieved RGMP compliance across all our sites and corporate Audit effectiven
Slide 121: 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 122: Strong and Diverse Corporate Governance
STRONG AND DIVERSE CORPORATE GOVERNANCE Size of Board = 9 Nationalities represented on the Board Board experience by sector Strategy & Leadership International Business 8 6 1 Metals & Mining Finance & Accounting Public Policy Operations & Exploration Corporate Governance Sustainability & Non-Executi
Slide 123: West Africa Insights
WEST AFRICA INSIGHTS 5
Slide 124: 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 125: 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 126: 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 127: 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 128: 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 129: 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 130: 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 $108/oz West African projects have the lowest capital intensity of any region
Slide 131: West Africa Is the Fastest-Growing Gold Producing Region
WEST AFRICAN PRODUCTION GROWTH Burkina Faso Côte d’Ivoire Mali Senegal Guinea Ghana Other1 % of Mine Supply WEST AFRICA 16Moz 14% IS THE FASTEST- GROWING GOLD 14Moz 12% PRODUCING REGION 12Moz 10% 10Moz compound annual 8.5% growth rate 1990-2024 8% 8Moz 6% 6Moz production increase +85% over last deca
Slide 132: West African Gold Production by Country
WEST AFRICAN GOLD PRODUCTION BY COUNTRY FY-2024 gold production by country WEST AFRICA 15Moz IS THE LARGEST GLOBAL GOLD 12Moz PRODUCING REGION 11Moz 6 out of the top 10 senior gold producers 9Moz have a presence in West Africa, with Endeavour being the largest producer in the region. 7Moz 5Moz 4Moz
Slide 133: Favourable Mining Jurisdictions
WEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU) FAVOURABLE MINING JURISDICTIONS Stable mining code and a well-balanced profit-sharing framework to encourage investment into the mining sector. WAEMU has adopted standardised tax principles across member countries, creating consistency that allows Roy
Slide 134: Alignment of Mining Codes
ALIGNMENT OF MINING CODES Well-aligned mining codes across West Africa CÔTE D’IVOIRE BURKINA FASO SENEGAL Low High Rate Low High Rate Government 0 1,000 3.00% 0 1,000 3.00% Royalty rate at 1,000 1,300 3.50% 1,000 1,300 4.00% US$/oz gold 1,300 1,600 4.00% 1,300 1,500 5.00% price Flat 5% Royalty 1,600
Slide 135: 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 136: The Senegalese Economy
GOLD PRODUCTION1, koz 712 694 SENEGAL SENEGAL 9% 581 612 561 604 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 2013
Slide 137: The Ivorian Economy
Birimian greenstone belt Endeavour Asset TONGON GOLD PRODUCTION1, Moz Endeavour Project / Advanced Exploration CÔTE Other Gold Asset 16% 1.8 KONE 1.7 D’IVOIRE Other Gold Project LAFIGUÉ SEGUELA 1.5 ASSAFOU CAGR 1.3 YAOURE 1.1 ABUJAR THE IVORIAN 0.9 ITY MINE Yamoussoukro 0.8 0.8 0.8 0.7 BONIKRO ECONO
Slide 138: The Burkinabe Economy
Birimian greenstone belt Endeavour Asset GOLD PRODUCTION1, Moz INATA ESSAKANE Other Gold Asset BURKINA FASO Other Gold Project KARMA TAPARKO 8% 2.9 BOULY 2.7 BISSA CAGR 2.6 2.6 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 HOU
Slide 139: Appendix
APPENDIX FT / 26 Es f
Slide 140: Appendix 1: Management, Board, Corporate Structure & Remuneration Plans
01 APPENDIX 1 Management, Board, Corporate Structure & Remuneration Plans
Slide 141: 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 142: Board Members
BOARD MEMBERS Srinivasan Venkatakrishnan Ian Cockerill Alison Baker Livia Mahler Chair and Independent Executive Director Independent Independent Non-Executive Director Non-Executive Director Non-Executive Director John Munro Sakhila Mirza Naguib Sawiris Patrick Bouisset Cathia Lawson-Hall Independe
Slide 143: 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 144: Short Term Incentive Plan
SHORT TERM INCENTIVE PLAN 2025 MEASURES WEIGHTING (%) THRESHOLD TARGET MAXIMUM Mine free cash flow1 15% Above low-end of guidance Mid-point of guidance Above high-end of guidance Production 15% Above bottom-end of guidance Mid-point of guidance Beat high-end of guidance AISC1 15% Within top end of G
Slide 145: Long Term Incentive Plan
LONG TERM INCENTIVE PLAN 2025 MEASURES WEIGHTING (%) THRESHOLD TARGET MAXIMUM TSR – Performance 25% Ranked 10th to 6th place Ranked 10th to 6th place Top 5 performers (Rank 1-20)1 Dividends2 25% $600m $648m $700m Net debt2 10% ≤0.5x ≤0.5x ≤0.3x Projects & Exploration 25% A drill programme executed t
Slide 146: Appendix 2: Mine Statistics & Additional Information
02 APPENDIX 2 Mine Statistics & Additional Information
Slide 147: Mine Statistics: Quarterly
MINE STATISTICS On a quarterly basis ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 Q3-2025 Q2-2025 Q3-2024 (on a 100% basis) Physicals Total tonnes mined – OP1 000t 7,949 7,844 7,761 12,718 13,490 9,567 — — —
Slide 148: Mine Statistics: Nine Months to September 2025
MINE STATISTICS Nine-months to 30 September 2025 (on a 100% basis) ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Physicals YTD-2025 YTD-2024 YTD-2025 YTD-2024 YTD-2025 YTD-2024 YTD-2025 YTD-2024 YTD-2025 YTD-2024 Total tonnes mined – OP1 000t 24,167 22,299 37,542 32,283 — 930 26,572 31,015 40,989 27,001
Slide 149: Appendix 3: Reserves and Resources, 5-Year Exploration Target
03 APPENDIX 3 Reserves and Resources, 5-year exploration target
Slide 150: Reserves and Resources
RESERVES AND RESOURCES As of 31 December 2024, 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 151: Notes to Reserves and Resources
NOTES TO RESERVES AND RESOURCES As of 31 December 2024 151
Slide 152: 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 153: 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
Endeavour Mining — Investor Presentation (December 2025) on 6ix