Slide 1: Corporate Presentation June 2025
CORPORATE PRESENTATION June 2025
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 4
Slide 5: Endeavour Has an Unmatched Competitive Advantage
ENDEAVOUR HAS AN UNMATCHED COMPETITIVE ADVANTAGE IN ONE OF THE LARGEST AND MOST PROSPECTIVE GOLD PRODUCING REGIONS 1 Largest 5 gold mines 1,110-1,260koz West African producer AISC $1,150-1,350/oz 2025 guidance1 5 1) All-In Sustaining Cost guidance assumes an average gold price of $2,000/oz and USD:E
Slide 6: Relative to Other Gold Producers
RELATIVE TO OTHER GOLD PRODUCERS CROSS SECTOR BENCHMARKING FY-2025 Production Guidance 7Moz 6Moz 5Moz 4Moz PEER 3Moz BENCHMARKING 2Moz 1Moz 0Moz IAMGOLD Barrick Newmont Kinross Agnico Eagle Harmony Eldorado Gold Fields Northern Star B2Gold Lundin Gold1 Centerra Alamos Anglogold Endeavour SSR Mining
Slide 7: Company Profile
COMPANY PROFILE Highlights Top shareholders Shareholder register as at 30 April 2025 Ticker LSE | TSX: EDV, OTXCQ: EDVMF Shares outstanding as at 30 April 2025 242m Rank Institution name % of S/O 1 La Mancha 16.2% Share price as at 30 April 2025 £20.16 / C$37.35 2 BlackRock Investment Management (UK
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- Proven ran
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 0.11 LTIFR1 compared to an Industry average of
Slide 11: On Track to Meet Full Year Guidance
ON TRACK TO MEET FULL YEAR GUIDANCE OPERATIONAL EXCELLENCE Strong Q1 positions the Group well to meet FY-2025 guidance 0.05 GROUP SAFETY LTM LTIFR +30% 1.14 Industry Average1 341koz Of lower end of production GROUP Q1 guidance achieved in Q1 PRODUCTION2 1,110koz 1,260koz FY-2025 Guidance $1,129/oz G
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 1,130-1,270koz 11 years Out of last 12 beating or 1,066koz 1,072koz achieving production guidance 1,
Slide 13: All-In Sustaining Margin Track Record
OPERATIONAL EXCELLENCE OPERATIONAL EXCELLENCE Strong all-in sustaining margins underpinned by low-cost production All-In Sustaining Margin Track Record All-In Sustaining Margin AISM (%) Realised Gold Price1 50% 59% 53% ~ 52% 50% 50% 48% 39% 40% $2,783/oz 36% 28% $2,349/oz All-In Sustaining Margin 19
Slide 14: Organically Growing Production
ORGANICALLY GROWING PRODUCTION OPERATIONAL EXCELLENCE Production growth to 1.5Moz with class-leading costs Production from continuing operations Production from continuing operations +35% DEBT REDUCTION FUND GROWTH AND DELEVERAGING AND FUND GROWTH AND FOCUS DELIVER SHAREHOLDER RETURNS SHAREHOLDER RE
Slide 15: Strong Construction Track Record
CEO INTRODUCTION 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 3.0mtp
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 OPTIMISING OUR MINERAL SIZER SOLAR POWER THROUGHPUT OPERATING PIT SHELL GRID POWER OPRIMITSATION OPTIMISATION PORTFOLIO Ity Mine Houndé Mine CRUSHER Lafigué Mine MO
Slide 18: Largest Exploration Presence in West Africa
LARGEST EXPLORATION PRESENCE IN WEST AFRICA UNLOCKING EXPLORATION Endeavour has a strategic foothold in two of West Africa’s most prospective belts 60% of greenstone belt lies in Burkina Faso and Côte d’Ivoire but… …only represents ~30% of production since it is underexplored 18
Slide 19: Proven Ranking and Screening Methodology
PROVEN RANKING AND SCREENING METHODOLOGY UNLOCKING EXPLORATION Based on a methodology used in the oil and gas sector Outlook set in 2021 for the 5-year period ending 2025 Exhaustive Screened through multi- All screening based 150 criteria data analysis to targets on geological data targets set targe
Slide 20: Unlocking Exploration Value
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION 20.7Moz of M&I resources discovered since mid-2016 Total M&I resource discoveries M&I resources discovered 12 – 17Moz M&I resource 1.9 Exploration spend discovery target (2021-2025) 20.7Moz Discovered 1.9Moz 4.0Moz Moz Discovered in 3.0Moz FY-2024 3.
Slide 21: Unlocking Exploration Value: Discovery Target
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION Achieved 5-year discovery target of 12 - 17Moz for period ending 2025 5-year M&I resource discovery target FY-2025 GUIDANCE M&I resource as at 31 December, 2020 M&I resources discovered in 2021 - 2023 Assafou Greenfield Remaining Indicated resource d
Slide 22: Fast Turnaround from Discovery to Production
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION Fast turnaround from discovery to production Houndé Mine Ity Mine Feasibility Commercial Feasibility Optimisation & Commercial Acquisition Study Permit Construction Production Acquisition Study Construction Production 2012 2013 2015 2016 2017 5 YEARS
Slide 23: 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 PRE-FEASIBILITY STUDY KEY METRICS Production (koz) AISC ($/oz) 400 2,000 Target production of +350koz 350 329koz $892/oz +15year 4.1Moz 300 250 1,500 Production AISC
Slide 24: 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 25: Assafou: 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 25
Slide 26: Free Cash Flow Generation
FREE CASH FLOW GENERATION Significant quarterly increase in free cash flow generation Free Cash Flow margin and per ounce Free Cash Flow Free Cash Flow Margin FCF/oz DELEVERAGING AND INCREASING SHAREHOLDER RETURNS FOLLOWING GROWTH PAHSE $409m $795/oz FCF since completion of 39% growth phase $268m 28
Slide 27: Robust Financial Position
ROBUST FINANCIAL POSITION Deleveraged balance sheet to below 0.50x target leverage in Q1-2025 Evolution of leverage Net debt / LTM adjusted EBITDA 0.22x ABILITY TO FUND GROWTH AND DELEVERAGING AND INCREASING DELIVER SHAREHOLDER RETURNS SHAREHOLDER RETURNS Free cash flow inflection driving significan
Slide 28: 2024-2025 Shareholder Returns Programme
2024-2025 SHAREHOLDER RETURNS PROGRAMME Increasing commitment to shareholder returns following investment phase INSIGHTS Shareholder returns programme share buybacks minimum dividend Returns › The 2024 – 2025 shareholder returns programme supplemental dividend supplemental shareholder returns Produc
Slide 29: 2024-2025 Shareholder Returns Programme
2024-2025 SHAREHOLDER RETURNS PROGRAMME >$ 200/oz Increasing commitment to shareholder returns following investment phase Cumulative shareholder Returned returns for every ounce of gold produced1 Buybacks Minimum Dividend Supplemental Dividend Supplemental Shareholder Returns +$1,463m $398m1 $ 277m
Slide 30: Attractive Shareholder Returns
ATTRACTIVE SHAREHOLDER RETURNS Shareholder returns are attractive across gold mining and other sectors 2024 INDICATIVE YIELD 2024 INDICATIVE YIELD 2024 RETURNS PER OUNCE 0% 8% 16% 0% 1% 2% 3% 4% 5% 6% 7% $0/oz $100/oz $200/oz $300/oz Energy 13.8% B2Gold1 6.1% Newmont $282/oz Endeavour 5.1% 0.8% 5.9%
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: Valuation Benchmark
VALUATION BENCHMARK Endeavour offers a compelling valuation across gold miners and other sectors 18.8x 14.9x 10.8x 11.1x 8.5x 8.6x 9.2x EV/EBITDA 5.6x 6.7x 8.3x (Next Twelve Months) 3.2x 4.1x Energy Endeavour Gold Materials Consumer Financials Industrials Utilities Health Comms TMT Real Estate minin
Slide 33: Being a Trusted Partner
BEING A TRUSTED PARTNER Sustainability efforts underpin top ESG ratings Sustainalytics scores1 Low Endeavour MSCI rating evolution2 Severe 7% Medium Endeavour (2025) Endeavour (2024) 2024 AA 41% Gold Peer 22% Endeavour (2023) Risk Agnico Eagle Rating 2023 AA Polymetal 30% Eldorado High Newmont 2022
Slide 34: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 2 34
Slide 35: Q1-2025 Highlights
Q1-2025 HIGHLIGHTS Continuing to deliver against key objectives Operational Free Cash Flow Balance Performance Generation Sheet Strength Q1-2025 2025 Guidance Growth Cash Flow Phase Growth Deleveraging Production 341koz 1,110 – 1,260koz $409m 0.81x 0.77x $775m FCF since growth phase $268m 0.55x <0.5
Slide 36: Production and All-In Sustaining Cost
PRODUCTION AND ALL-IN SUSTAINING COST Strong production and improved AISC in Q1-2025 Production and All-In Sustaining Costs Production, koz All-In Sustaining Cost, US$/oz Realised -22koz Gold Price1 363koz 341koz 270koz Production 251koz Q1-2025 vs Q4-2024 219koz $1,287/oz $1,287/oz $1,186/oz $1,141
Slide 37: Financial Highlights
FINANCIAL HIGHLIGHTS Strong free cash flow growth in Q1-2025 QUARTER ENDED 31 Mar 31 Dec 31 Mar Q1-2025 vs. (in $ million unless otherwise stated) 2025 2024 2024 Q4-2024 53% OPERATIONAL HIGHLIGHTS Gold Production, koz 341 363 219 (6)% Gold Sold, koz Total Cash Cost1,2, $/oz 353 929 356 979 225 1,007
Slide 38: Adjusted EBITDA and EBITDA Margin
ADJUSTED EBITDA AND EBITDA MARGIN Increasing adj. EBITDA over the last year Adjusted EBITDA Adj. EBITDA Adj. EBITDA Margin +12% Realised Gold Price1 $613m $546m Adj. EBITDA Q1-2025 vs Q4-2024 $317m $249m +1pp $213m 58% 59% 45% 45% 45% Adj. EBITDA margin $2,041/oz $2,287/oz $2,342/oz $2,590/oz $2,783
Slide 39: Operating Cash Flow
OPERATING CASH FLOW Operating cash flow growth following project ramp-ups and gold price strength Operating cash flow Operating cashflow Realised $494m 113m Gold Price1 +$ $381m Operating cash flow Q1-2025 vs. Q4-2024 $258m $252m $55m + 30% Operating cash flow $2,041/oz $2,287/oz $2,342/oz $2,590/oz
Slide 40: Operating Cash Flow Bridge
OPERATING CASH FLOW BRIDGE Operating cashflows increased significantly in Q1-2025 INSIGHTS Operating cash flow bridge 3 4 1. The realised gold price, inclusive of realised 5 losses on gold hedges as part of the Group’s ($22m) Revenue Protection Programme and LBMA averaging strategy, increased by $19
Slide 41: Free Cash Flow
FREE CASH FLOW Strong quarterly free cash flow growth Free Cash Flow Operating Cashflow Free Cash Flow Investing Cashflow $494m +$ 141m $381m Free Cash Flow $409m Q1-2025 vs. Q4-2024 $252m $255m $268m $81m $97m $55m ($133m) ($188m) ($171m) ($158m) ($113m) ($85m) + 53% Q1-2024 Q2-2024 Q3-2024 Q4-2024
Slide 42: Change in Net Debt
CHANGE IN NET DEBT Deleveraged the balance sheet to below 0.5x leverage target in Q1-2025 INSIGHTS Change in net debt 1. Operating activities included $592m in 1 operating cashflow before changes in $732m working capital and a $98m working capital outflow. 2. Investing cash outflows included $56m of
Slide 43: Net Earnings from Operations
NET EARNINGS FROM OPERATIONS Adjusted net earnings increased quarter on quarter INSIGHTS 3 MONTHS ENDED 1. Other expenses included $9m in acquisition and (in $ million) 31 Mar 31 Dec A = Adjustments made for Adjusted Net Earnings restructuring costs primarily related to payments in 2025 2024 Côte d’
Slide 44: Debt Structure
DEBT STRUCTURE Diversified long-term debt structure Senior Notes: Change in debt drawn › 5% fixed coupon rate senior notes mature in Oct-2026. ($m) Interest Rate Maturity 31 Mar 2025 31 Dec 2024 31 Mar 2024 › On 29 May 2025, Endeavour announced the completion $370m and tender offer for the notes exp
Slide 45: Stable Credit Rating
STABLE CREDIT RATING S&P credit rating is capped by sovereign rating S&P long-term foreign currency debt credit ratings Endeavour BB- BB- Cote d’Ivoire BB- S&P rating Senegal B+ Stable Outlook across all Burkina Faso CCC+ jurisdictions 45
Slide 46: Short Term Revenue Protection Programme
SHORT TERM REVENUE PROTECTION PROGRAMME Increased certainty of cash flows during growth and debt reduction phases INSIGHTS Gold collars Gold price in US$/oz Debt reduction › In Q1-2025, approximately 50koz were and shareholder delivered into a collar with an average call 2600 return focus price of $
Slide 47: FY-2025 Guidance
FY-2025 GUIDANCE Capital Expenditure Guidance (All amounts in US$m) FY-2024 FY-2025 GUIDANCE Houndé 50 40 Production Guidance Ity 10 20 Mana 34 60 (All amounts in koz, on a 100% FY-2024 FY-2025 GUIDANCE Sabodala-Massawa 25 60 basis) Lafigué 6 35 Corporate 2 — Houndé 288 230 — 260 SUSTAINING CAPITAL
Slide 48: Our High Quality Portfolio
OUR HIGH QUALITY PORTFOLIO 3 48
Slide 49: Safety Performance
SAFETY PERFORMANCE Continued industry leading safety record LTIFR and hours worked Hours Worked (Millions, 12 month trailing basis) LTIFR (12 month trailing basis)1 0.05 44.0m 44.2m 42.4m 39.4m 38.0m LTIFR in Q1-2025 0.13 0.12 1LTIs 0.11 0.11 0.05 in Q1-2025 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 1
Slide 50: Diversified Portfolio
DIVERSIFIED PORTFOLIO P&P RESERVES M&I RESOURCES 2024 Actuals 2025 Guidance as at 31 Dec 2024 as at 31 Dec 2024 ASSET COUNTRY PRODUCTION AISC PRODUCTION AISC CONTAINED GRADE CONTAINED GRADE (koz) (US$/oz) (koz) (US$/oz) GOLD (Moz) (g/t) GOLD (Moz) (g/t) Houndé Burkina Faso 288 1,294 230 – 260 1,225
Slide 51: Q1-2025 Performance vs Guidance
Q1-2025 PERFORMANCE VS GUIDANCE Group on track to achieve full-year guidance following a strong start to the year Q1-2025 Production vs Guidance Q1-2025 AISC vs Guidance $975/oz $1,100/oz Ity Q1 Q1 84koz 290 - 330koz $930/oz $1,225/oz $1,375/oz Houndé Q1 Q1 92koz 230 - 260koz $858/oz $1,550/oz $1,75
Slide 52: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Snapshot 250-280koz $1,100-1,250/oz 3.26Moz 5.19Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Sabodala-Massawa complex has potential to become a Construction of the Sabodala-Massawa expansi
Slide 53: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • BIOX throughput optimisation targeting +10-15% Resources shown Tonnage Grade Content inclusive of Reserves (on a 100% basis) (Mt) (Au g/t) (Au koz) • Exploring for new high-grade CIL ore sources on newly
Slide 54: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Higher recoveries support higher production Q1-2025 vs Q4-2025 INSIGHTS Production and AISC1 Production, koz AISC, US$/oz 70koz 72koz › Production increased due to higher tonnes milled through both the CIL and the BIOX processing plants 57koz 54koz 49koz along with higher assoc
Slide 55: Technical Review Underway
TECHNICAL REVIEW UNDERWAY Driving efforts to support the near-term mine plan INCREASING BIOX EXPLORING FOR NEAR- ACCELERATING THROUGHPUT MINE OXIDES UNGERGROUND MINING › Increase floatation throughput to increase › Prioritising exploration efforts to identify and › Accelerating the feasibility stage
Slide 56: 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 57: 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 58: 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 59: Sabodala-Massawa Exploration Strategy Overview
SABODALA-MASSAWA EXPLORATION STRATEGY OVERVIEW Targeting near-term non-refractory and longer-term refractory deposits DISCOVERY TARGET 2.3-2.7 Moz $26/oz 1 (2021-2025) Indicated resources Discovery cost 1 Exploration Strategy 1 Niakafiri Koulouqwinde Near-term Mamasoto 2 /Kiesta /Bambaraya 1 Product
Slide 60: Near Term Exploration Focus
EXPLORATION NEAR TERM EXPLORATION FOCUS Focussed on adding high-grade, non-refractory resources into the CIL mine plan INSIGHTS › An exploration programme slightly above the guided $31m spend is expected for FY-2024, of which $31m has been spent year to date including $9m spent in Q3-2024 consisting
Slide 61: Kiesta
KIESTA High-grade intercepts at the Kiesta discovery are being delineated INSIGHTS › The Kiesta target is located along the Sabodala Shear Zone. › The deposit is located in the north of the Massawa mining license, approximately 18 kilometers southeast of the Sabodala-Massawa processing plant. › Foll
Slide 62: Niakafiri West - Near-Term Production
NIAKAFIRI WEST - NEAR-TERM PRODUCTON Niakafiri West within 2km of the Sabodala processing plant 62
Slide 63: Niakafiri West - Near-Term Production
NIAKAFIRI WEST - NEAR-TERM PRODUCTON Niakafiri West within 2km of the Sabodala processing plant 63
Slide 64: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Located 30km southeast of the Sabodala plant INSIGHTS › Kawsara is a 10km long anomaly that includes the Tama Toya Sabodala Plant 30Km targets. A › The anomaly was drilled in Q1- 2024, identifying a potentially large resource with near surface mineralisation that is >1.5g/t
Slide 65: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants A A’ 65
Slide 66: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants B B’ 66
Slide 67: Massawa Underground – Long-Term Upside
MASSAWA UNDERGROUND – LONG-TERM UPSIDE Continuation of high-grade Massawa North Zone at depth 50 67
Slide 68: Ity Mine
ITY MINE Snapshot 290-330koz $975-1,100/oz 3.55Moz 5.42Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Ity mine is one of Endeavour’s cornerstone assets. It has the The CIL plant was successfully built ahead of lo
Slide 69: Ity Mine
ITY MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 Tonnage Grade Content • Continued inclusion of new discoveries, including Le Plaque, to Resources shown (Mt) (Au g/t) (Au koz) provide greater mining and processing flexibility. inclusive of Reserves (on a 100% basis)
Slide 70: Ity Mine
ITY MINE Consistent quarter over quarter production at improved AISC Q1-2025 vs Q4-2024 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production was consistent with the prior quarter as lower 96koz tonnes of ore milled was offset by higher average grades 86koz 84koz 84koz processed, wh
Slide 71: Ity Mine
ITY MINE Overview Ity production plan 2025 Guidance mid-point Incremental production added 2017 Optimization Study 350koz 300koz Target production of 250koz over +10 years expected to be achieved based on exploration potential and further resource to reserve conversion 250koz 200koz 150koz 100koz 50
Slide 72: Ity Exploration Strategy Overview
ITY EXPLORATION STRATEGY OVERVIEW Focussed on maintaining minelife above 10 years DISCOVERY TARGET 3.5-4.5 Moz $ 26/oz (2021-2025) Indicated resources Discovery cost Exploration Strategy 2 Ity Deeps Daapleu 1 Resource 1 Conversion West Le Plaque Flotouo Toulepleu Yopleu 1 Long-term 2 Additions Daapl
Slide 73: Discovery Track Record
DISCOVERY TRACK RECORD Resource base continues to grow net of depletion M&I Resource additions versus depletion Cumulative depletion M&I resources2 +110% 7.8Moz 7.6Moz 8.9Moz 8.9Moz 6.9Moz 3.5Moz Defined gold 2.8Moz endowment 5.7Moz 5.9Moz 3.1Moz 5.3Moz 2.5Moz 5.2Moz 1.9Moz 2.1Moz 4.2Moz 1.5Moz 1.6M
Slide 74: Ity Resource Model
ITY RESOURCE MODEL Significant reserve and resource potential at the Ity Doughnut INSIGHTS 2023 Grand Ity reserve model1 2024 Grand Ity reserve model2 › Significant resource and Bakatouo NW reserve expansion potential identified at Ity, in close proximity to the Processing Plant Zia Bakatouo process
Slide 75: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on extending mineralisation at known deposits INSIGHTS › An exploration programme of $11.4 million was undertaken in FY- 2024 consisting of 55,800 metres across 1,574 drill holes, of which $0.5 million was spent in Q4-2024 largely focused on desktop work and geol
Slide 76: West Flotouo
WEST FLOTOUO High grade discovery close to the Ity CIL plant 76
Slide 77: Le Plaque
LE PLAQUE Continuity demonstrated between Delta extension and Yopleu-Legaleu INSIGHTS Le Plaque exploration targets › The high grade Le Plaque deposit has been extended to the south towards Delta Extension and Le Plaque southwest. › Resource ore type is 77% fresh and the strip ratio is expected to b
Slide 78: Delta Extension
DELTA EXTENSION Mineralisation extends below pit shell 78
Slide 79: Walter-Bakatouo
WALTER-BAKATOUO Near mine low strip ratio resources added INSIGHTS Walter-Bakatouo selected drill holes › Walter-Bakatouo is located 1km east of the Ity CIL plant. › Drilling at the Walter-Bakatouo pit in 2023 intercepted high-grade mineralisation around the margins of the granodiorite intrusion in
Slide 80: Gbampleu
GBAMPLEU New discovery is a promising target on the Toulepleu-Ity greenstone belt INSIGHTS Gbampleu selected drill holes › The Gbampleu discovery is located in the Toulepleu exploration permit (PR462), 22km south of the Ity plant. The prospect sits in the center part of the Toulepleu-Ity greenstone
Slide 81: Gbampleu
GBAMPLEU New discovery is a promising target on the Toulepleu-Ity greenstone belt 81
Slide 82: Houndé Mine
HOUNDÉ MINE Burkina Faso 230-260koz $1,225-1,375/oz 2.64Moz 3.27Moz As at As at 2025 Guidance 2025 Target 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Houndé mine is one of Endeavour’s The goal is to delineate sufficient additional resources cornerstone
Slide 83: Houndé Mine
HOUNDÉ MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Greater mining flexibility with multiple available ore sources Resources shown Tonnage Grade Content (Mt) (Au g/t) (Au koz) following stripping at Vindaloo and the incorporation of Kari Pump inclusive of Reser
Slide 84: Houndé Mine
HOUNDÉ MINE High grade Kari Pump ore supported strong production ahead of the wet season Q1-2025 vs Q4-2024 INSIGHTS Production and AISC › Production decreased due to lower average grades Production, koz AISC, US$/oz processed and tonnes milled, partially offset by an increase 109koz in recovery rat
Slide 85: Houndé Mine
HOUNDÉ MINE Burkina Faso Houndé production plan 2025 Guidance mid-point Incremental production added 2016 Optimization Study 350Koz 300Koz Target production of 250koz over +10 years expected to be achieved based on exploration potential and further resource to reserve conversion 250Koz 200Koz 150Koz
Slide 86: Houndé Exploration Strategy Overview
HOUNDÉ EXPLORATION STRATEGY OVERVIEW Focussed on maintaining a +10 year mine life DISCOVERY TARGET 3.0-4.0 Moz $19/oz Indicated resources Discovery cost (2021-2025) 2 2 Exploration Strategy Resource Vindaloo Kari Area 1 Conversion Deeps Dossi Long-term Koho 1 2 Additions Sia Mambo Dohoun 1 TARGET SC
Slide 87: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on near mine exploration targets INSIGHTS › An exploration programme of $9.9 million was undertaken in FY-2024 consisting of 20,800 metres across 84 drill holes with $1.9 million spent in Q4- 2024 consisting of 1,700 metres of drilling across three drill holes. D
Slide 88: Vindaloo South and Deeps
VINDALOO SOUTH AND DEEPS Drill programme focussing on delineating mineralisation extensions INSIGHTS › 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 resource. › This V
Slide 89: Vindaloo Deeps
VINDALOO DEEPS Mineralisation remains open at depth below the current pit shell 89
Slide 90: Mambo
MAMBO Delineation of the Mambo discovery INSIGHTS Mambo geology and drilling intercepts › Mambo is an attractive deposit as it is expected to have a low strip ratio, the resource contains approximately 40% oxide and transitional material › The higher-grade portion (+2g/t) of the Mambo deposit is exp
Slide 91: Mana Mine
MANA MINE Burkina Faso 160-180koz $1,550-1,750/oz 0.68Moz 1.72Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Mana mine is located in the northern part Recent discoveries resulted in the development of of the high
Slide 92: Mana Mine
MANA MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Mine life extensions through open pit and underground exploration Tonnage Grade Content Resources shown (Mt) (Au g/t) (Au koz) • Increasing development rates across three portals at Wona and one inclusive of Res
Slide 93: Mana Mine
MANA MINE Strong Q1-2025 production as Wona portals achieve commercial production Q1-2025 vs Q4-2024 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production increased due to higher grades processed, 46koz offsetting the lower tonnes milled while recovery 42koz 41koz rates remained sta
Slide 94: Mana Exploration Strategy Overview
MANA EXPLORATION STRATEGY OVERVIEW Focussed on extending mine life to +10 years DISCOVERY TARGET 1.0-1.5 Moz $30/oz (2021-2025) Indicated resources Discovery cost Exploration Strategy Resource Wona UG Siou UG 1 Conversion Long-term 2 Additions Nyafe Deep Fofina Deep 1 TARGET SCREENING Bubble size re
Slide 95: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on non-refractory open-pit targets INSIGHTS Mana exploration map › An exploration programme of $2.8 million was undertaken in FY-2024 consisting of 11,000 metres across 362 drill holes, of which $0.8 million was spent in Q4-2024 consisting of 2,000 metres of dril
Slide 96: Lafigué Mine
LAFIGUÉ MINE Côte d’Ivoire 180-210koz $950-1,075/oz 2.36Moz 2.90Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Lafigué project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities
Slide 97: Lafigué Mine
LAFIGUÉ MINE Successfully ramped up to exceed nameplate capacity Q1-2025 vs Q4-2024 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower average grades 60koz processed during the quarter, partially offset by an increase in mill throughput. 48koz › AISC increa
Slide 98: Lafigué Mine
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 +33% $800/oz 100koz $400/oz 50koz Incremental production over the PFS 0koz Ye
Slide 99: Lafigué Exploration Overview
LAFIGUÉ EXPLORATION OVERVIEW Long-term potential to grow endowment Exploration Strategy 1 Near-term Central Area DISCOVERY TARGET 1.5-2.0 Moz 45/oz $ (2021-2025) Indicated resources Discovery cost DISCOVERY TARGET Medium- 2 (2021-2025) term Indicated Target 1 resources Target 4-12 Underground WA02 W
Slide 100: Fetekro Exploration Property
FETEKRO EXPLORATION PROPERTY High priority targets to follow-up with over the first few years of production INSIGHTS Fetekro Exploration permit select intercepts › An exploration programme of $2.5 million was undertaken in FY-2024 consisting of 10,500 metres of drilling across 87 drill holes, of whi
Slide 101: Lafigué North
LAFIGUÉ NORTH Section 320205 101
Slide 102: Lafigué Center
LAFIGUÉ CENTER Section 319830 102
Slide 103: 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 104: Assafou Project
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 105: Assafou Project: Tanda-Iguela Property
ASSAFOU PROJECT Tanda-Iguela Property, Côte d’Ivoire 105
Slide 106: Assafou Project
INSIGHTS › PFS confirms Assafou's potential to become a tier 1 asset for Endeavour › PFS demonstrates Assafou’s ability to deliver 329kozpa at AISC of $892/oz ASSAFOU PROJECT Côte d’Ivoire over the first ten years of operations, › Average production exceeding 350kozpa over an 8-year period once the
Slide 107: Assafou Project
INSIGHTS › 4.6Moz Indicated resource outlined in approximately two years after discovery at a low discovery cost of $11 per indicated ounce ASSAFOU PROJECT Côte d’Ivoire › Tanda-Iguela property has the potential to become another cornerstone asset for Endeavour › Assafou deposit is amenable to open
Slide 108: Assafou - Pala Intersection
ASSAFOU - PALA INTERSECTION Unlocking satellite targets at Tanda-Iguela Assafou – Pala Trend 3 section A Pala Trend 3 Assafou A’ +900m Identified mineralised strike at Pala Trend 3 <1km INSIGHTS Distance from Assafou › Pala Trend 3 is a near-surface Brimian greenstone hosted target identified over a
Slide 109: Assafou Deposit
ASSAFOU DEPOSIT Mineralisation towards the northwest added to the November 2023 pit shell Cross Section 3133: Resources extended to the northwest outside of the November 2022 resource pit shell 109
Slide 110: Assafou Deposit
ASSAFOU DEPOSIT Mineralisationn intersected below November 2023 pit shell Cross Section 2933: Infill drilling in the northwest of Assafou extended resources at depth 110
Slide 111: Assafou Deposit
ASSAFOU DEPOSIT High grade and thickness of main mineralised lense with additional lenses added near surface Cross Section 2333: Infill drilling identified shallow mineralisation in the southwest of the deposit 111
Slide 112: Assafou Deposit
ASSAFOU DEPOSIT Continuity of main mineralised lense with further mineralisation intersected at depth Cross Section 1933: Infill drilling in the centre of the deposit extended resources at depth 112
Slide 113: Assafou Deposit
ASSAFOU DEPOSIT Additional resources added close to surface in the southeast part of the deposit Cross Section 1766: Infill drilling has added additional resources close to surface and at depth 113
Slide 114: Assafou Deposit
ASSAFOU DEPOSIT Indicated resource extended southeast along strike Cross Section 0533: Drilling has extended resources southeast of the November 2022 resources 114
Slide 115: Assafou Deposit
ASSAFOU DEPOSIT Indicated resource extended southeast along strike Cross Section 0933: Drilling has extended resources southeast of the November 2022 resources 115
Slide 116: Koulou Gold Investment
INSIGHTS › Endeavour has strategically invested $6.8m in Koulou Gold for a 19.07% ownership stake, through two KOULOU GOLD INVESTMENT Côte d’Ivoire 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 117: Kalana Project
QUICK FACTS (100% BASIS) based on 2021 PFS RESERVES AND RESOURCES as at 31 December 2023 Ownership 80% EDV Mine Type Open Pit Tonnage Grade Content Resources shown (Au koz) KALANA PROJECT (Mt) (Au g/t) inclusive of Reserves (on a 100% basis) Mali Mill Type 3.0Mtpa Gravity / CIL Plant LIFE OF MINE PR
Slide 118: Bantou Project
INSIGHTS › Acquired through Endeavour’s acquisition of SEMAFO in 2020 and currently consists of eight mineralised zones with diverse BANTOU PROJECT mineralisation styles and grades within the prolific Houndé Burkina Faso Greenstone Belt › The Inferred resource is comprised of three main areas with t
Slide 119: Greenfield Siguiri Licenses
119 GREENFIELD SIGUIRI LICENSES Guinea
Slide 120: Working as a Trusted Partner
Watch video WORKING AS A TRUSTED PARTNER 4 120
Slide 121: Our Purpose Is to Produce Gold That Provides Meaningful Value
OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES MEANINGFUL VALUE OUR PURPOSE TO SOCIETY IS TO PRODUCE GOLD THAT PROVIDES LASTING VALUE TO SOCIETY We achieve this by... Protecting and promoting the Helping to create resilient and Trusted to unlock the full benefits places where we operate self-sustainin
Slide 122: Working as a Trusted Partner
WORKING AS A TRUSTED PARTNER 2024 Sustainability Report highlights continued sector leading ESG performance 2024 SUSTIANABILITY 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 123: Continuous Improvement in ESG Ratings
CONTINUOUS IMPROVEMENT IN ESG RATINGS Reflecting increased transparency, disclosure and engagement C Severe AA AA AA A C- C- Medium Low Low BBB 2019 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2025 B 62 53 B- 49 54 C C C 45 42 39 D- 2019 2020 2021 2022 2023 2024 2020 2
Slide 124: Towards Net Zero
TOWARDS NET ZERO INSIGHTS TARGETS › Endeavour has established ambitious targets, with our ultimate aim being to Emissions Intensity target of achieve Net Zero carbon emissions for Scope 1 and Scope 2 by 2050. We have also 2025 <600tCO2e/oz. set a medium-term target of reducing our Scope 1 and Scope
Slide 125: 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 126: 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 127: 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 128: Protecting the Environment
PROTECTING THE ENVIRONMENT INSIGHTS 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 2024 we recorded no critic
Slide 129: 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 130: 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 131: 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 132: 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 133: 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 134: Diversity & Inclusion
DIVERSITY & INCLUSION INSIGHTS Female representation at Endeavour › Employment of women in mining in West Africa +33% remains a 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 135: 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 136: 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 137: Strong & Diverse Corporate Governance
STRONG & 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-Executive
Slide 138: West Africa Insights
Watch video WEST AFRICA INSIGHTS 5 138
Slide 139: 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 140: 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 30Moz Cote d’Ivoire 23Moz China 18Moz The region is significantly under-explored Burkina Faso 17Moz c
Slide 141: Endeavour Holds One of the Largest Land Tenement Holdings in West Africa
UNDER-EXPLORED REGION ENDEAVOUR HOLDS ONE OF THE LARGEST LAND TENEMENT HOLDINGS IN WEST AFRICA 60% of greenstone belt lies in Burkina Faso and Côte d’Ivoire but… …only represents ~30% of production Endeavour has the largest land package across the since it is Birimian Greenstone Belt underexplored S
Slide 142: West Africa Is the 4th Largest Exploration Focus
GOLD INDUSTRY EXPLORATION BUDGET 2024 In US$ millions Canada Australia WEST AFRICA IS USA THE 4TH LARGEST West Africa Mexico $436m EXPLORATION FOCUS China ACROSS THE GLOBE Argentina Peru Côte d’Ivoire $118m Chile Given that exploration spend often Brazil Ghana foreshadows future production growth, E
Slide 143: 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 North America 17 yrs BUILD A MINE Given the importance of mining to West South America 16 yrs African economies, administrations are supportive of the extractiv
Slide 144: 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 5
Slide 145: West African Projects Have Low Capital Intensity
PRODUCTION FOR THE REGION 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 $108/oz West African projects have the lowest capit
Slide 146: West Africa Is the Fastest-Growing Gold Region
REGION’S PRODUCTION GROWTH WEST AFRICAN PRODUCTION GROWTH Burkina Faso Côte d’Ivoire Mali Senegal Guinea Ghana Other1 % of Mine Supply WEST AFRICA Annual Production % of Global Production 16Moz 14% IS THE FASTEST- GROWING GOLD 14Moz 12% PRODUCING REGION 12Moz 10% 10Moz 8.5% compound annual 8% growth
Slide 147: 2024 Production by Country
PRODUCTION FOR THE REGION 2024 PRODUCTION BY COUNTRY 15Moz WEST AFRICA IS THE LARGEST GLOBAL GOLD PRODUCING 12Moz REGION 11Moz 9Moz 6 out of the top 10 senior gold producers have a presence in West Africa, with Endeavour being the largest producer in 7Moz the region. 5Moz 4Moz 4Moz 3Moz 3Moz 3Moz 3M
Slide 148: Favourable Mining Jurisdictions
PRODUCTION WEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU) FAVOURABLE MINING JURISDICTIONS Stable mining code and a well-balanced profit-sharing framework to encourage investment into the mining sector. WAEMU has adopted standardised tax principles across member countries, creating consistency that
Slide 149: Alignment of Mining Codes
ALIGNMENT OF MINING CODES Well-aligned mining codes across West Africa CÔTE D’IVOIRE BURKINA FASO SENEGAL Low High Rate Low High Rate Government 0 1,000 3.00% 0 1,000 3.00% Royalty rate at 1,000 1,300 3.50% 1,000 1,300 4.00% US$/oz gold 1,300 1,600 4.00% 1,300 1,500 5.00% price Flat 5% Royalty 1,600
Slide 150: 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 151: 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 152: 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 153: Enhanced Security Platform Due to Scale in the Region
REGION’S PRODUCTION GROWTH 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: ›
Slide 154: Appendix
APPENDIX FT / 26 EEE f
Slide 155: Appendix 1: Management, Board, Corporate Structure & Remuneration Plans
01 APPENDIX 1 Management, Board, Corporate Structure & Remuneration Plans
Slide 156: 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 Endeavour in 2019 Officer Development as a Director • 25+ years exper
Slide 157: 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 158: 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 159: 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 160: Long Term Incentive Plan
LONG TERM INCENTIVE PLAN 2025 MEASURES WEIGHTING (%) THRESHOLD TARGET MAXIMUM TSR – Performance (Rank 1- 25% Ranked 10th to 6th place Ranked 10th to 6th place Top 5 performers 20)1 Dividends2 25% $600m $648m $700m Net debt2 10% ≤0.5x ≤0.5x ≤0.3x Projects & Exploration 25% A drill programme executed
Slide 161: Appendix 2: Mine Statistics & Additional Information
02 APPENDIX 2 Mine statistics & additional information
Slide 162: Mine Statistics
MINE STATISTICS On a quarterly year basis ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Q1-2025 Q4-2024 Q1-2024 Q1-2025 Q4-2024 Q1-2024 Q1-2025 Q4-2024 Q1-2024 Q1-2025 Q4-2024 Q1-2024 Q1-2025 Q4-2024 Q1-2024 (on a 100% basis) Physicals Total tonnes mined – OP1 000t 8,373 8,120 7,406 11,334 10,833 11,096
Slide 163: Appendix 3: Reserves and Resources, 5-Year Exploration Target
03 APPENDIX 3 Reserves and Resources, 5-year exploration target
Slide 164: 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 165: Notes to Reserves and Resources
NOTES TO RESERVES AND RESOURCES As at 31 December 2024 165
Slide 166: Exploration Methodology and Strategy
EXPLORATON METHODOLOGY AND STRATEGY Selection, ranking and risk evaluation of exploration targets Endeavour’s large land position (more than 17,000 sq Km) and comprehensive database over a very large number of exploration targets promotes the application of a general portfolio management theory wher
Slide 167: 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 16