Eldorado Gold Corporation · TSX:ELD

Eldorado Gold — Investor Presentation (June 2015)

31 slides from Eldorado Gold's investor presentation, June 2015

  1. Slide 1: Building our Future

    Building our Future Investor Presentation June 2015 Efemçukuru Gold Mine, Turkey

  2. Slide 2: Forward Looking Statement

    Forward Looking Statement Certain of the statements made in this Presentation may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward- looking information within the meaning of applicable Canadian securities law. The

  3. Slide 3: Keeping it Consistent

    Keeping it Consistent Running a strong business A global company Strong financial performance  Operations & projects in 5 countries  Total liquidity: ~$870M  Exceptional exploration potential  ~$494M in cash, cash equivalents  Over 7,200 employees and and term deposits at March 31, 2015 contrac

  4. Slide 4: Our Assets

    Our Assets Well-balanced global portfolio Europe Asia South America www.eldoradogold.com 4

  5. Slide 5: Consistent Quarterly Performance

    Consistent Quarterly Performance Steady production and stable costs 225 900 197 201 200 193 189 Gold Production (Koz) 829 800 786 150 761 735 729 700 ($/oz) 600 75 519 521 500 489 488 505 - 400 Q1 Q2 Q3 Q4 Q1 2014 2015 Production Operating Cash Costs All in Sustaining Costs Average Quarterly Product

  6. Slide 6: A Robust Future: Reserve life index

    A Robust Future Reserve life index (operating assets) 25 21.7 20 Reserve life index (years) 15.6 15 14.5 12.6 12.3 11.9 11.2 10.5 10.2 10 9.5 8.3 8.1 4.9 4.5 5 0 ELD* AUQ NEM AUY KGC GG IMG AGI AEM ABX SMF NGD P LSG Source: TD Securities 2014 Y/E operating gold reserves/2016E gold production (includ

  7. Slide 7: Strong Operations

    Strong Operations Turkey China Greece Kisladag Jinfeng Stratoni Efemcukuru Tanjianshan White Mountain

  8. Slide 8: Turkey: Our Cornerstone Mines – Kisladag

    Turkey: Our Cornerstone Mines Kisladag FY 2014 2015 Guidance Q1 2015 Capex during Q1: Gold production 311,233 oz 230,000-245,000 oz 79,256 oz  Capitalized waste stripping Cash operating costs $443/oz Au $600-650/oz Au $522/oz Au  Construction of additional Average grade 1.01 g/t Au 0.70 g/t Au 0.7

  9. Slide 9: Turkey: Our Cornerstone Mines – Efemçukuru

    Turkey: Our Cornerstone Mines Efemçukuru FY 2014 2015 Guidance Q1 2015 Gold production 98,829 oz 90,000-100,000 oz 21,220 oz Cash operating costs $573/oz Au $550-600/oz Au $604/oz Au Average grade 8.34 g/t Au 7.80 g/t Au 7.32 g/t Au Q1 Overview  Extremely wet weather impacted tailings placement and

  10. Slide 10: China: Our Consistent Producers – Jinfeng

    China: Our Consistent Producers Jinfeng FY 2014 2015 Guidance Q1 2015 Gold production 168,503 oz 135,000-145,000 oz 36,686 oz Cash operating costs $575/oz Au $660-700/oz Au $518/oz Au Average grade 3.99 g/t Au 3.95 g/t Au 4.10 g/t Au Q1 Overview  Planned shutdown for preventative mill maintenance c

  11. Slide 11: China: Our Consistent Producers – Tanjianshan

    China: Our Consistent Producers Tanjianshan FY 2014 2015 Guidance Q1 2015 Gold production 107,614 oz 90,000-100,000 oz 26,626 oz Cash operating costs $389/oz Au $475-500/oz Au $407/oz Au Average grade 3.69 g/t Au 3.36 g/t Au 3.57 g/t Au Q1 Overview  Cash operating costs 4% lower y-o-y due to lower

  12. Slide 12: China: Our Consistent Producers – White Mountain

    China: Our Consistent Producers White Mountain FY 2014 2015 Guidance Q1 2015 Gold production 85,308 oz 70,000-75,000 oz 20,883 oz Cash operating costs $617/oz Au $650-690/oz Au $600/oz Au Average grade 3.47 g/t Au 3.28 g/t Au 3.55 g/t Au Q1 Overview  Lower production y-o-y due to reduced head grade

  13. Slide 13: 2015 Guidance

    2015 Guidance Production Production Cash Costs Cash Costs Asset Guidance Q1 2015 Guidance Q1 2015 Kisladag – Turkey 230,000 - 245,000 oz 79,256 oz $600 – 650/oz $522/oz Efemcukuru – Turkey 90,000 - 100,000 oz 21,220 oz $550 – 600/oz $604/oz Jinfeng – China 135,000 - 145,000 oz 36,686 oz $660 – 700/o

  14. Slide 14: Industry Leading Growth

    Industry Leading Growth Greece Romania China Brazil Halkidiki District Certej Eastern Dragon Tocantinzinho (Skouries, Olympias)

  15. Slide 15: Industry Leading Growth: Greece

    Industry Leading Growth: Greece Growing the Halkidiki Mining District www.eldoradogold.com 15

  16. Slide 16: Greece: Building Our Future

    Greece: Building Our Future Skouries and Olympias Skouries Olympias  2015 Budget: $200 million in  2015 Budget: $110 million in development capital development capital  Mills now in place, steelwork and  Continue Stratoni-Olympias access equipment erection underway on decline, underground mine d

  17. Slide 17: Greece: Olympias Update

    Greece: Olympias Update 5 year projected operating performance Performance Units 2016 2017 2018 2019 2020 Ore Tonnes tpa 109,100 385,000 385,000 385,000 385,000 Gold Grade g/t 11.1 10.8 9.2 8.5 9.2 Payable Gold Production oz 19,800 68,300 59,200 55,400 60,000 Payable Silver Production oz 277,600 914

  18. Slide 18: Greece: Building Opportunities

    Greece: Building Opportunities Support continues to grow as projects advance  $450M invested in developing Skouries and  Committed to working with communities and Olympias since 2012 governments to develop sustainable opportunities  Over 2,000 people directly employed (fivefold increase in two ye

  19. Slide 19: Romania: Positive Certej Feasibility Study

    Romania: Positive Certej Feasibility Study Key Highlights  IRR of 13%  NPV at a 5% discount rate of $229 million  Estimated costs  Cash operating: $568/oz  AISC: $745/oz  Capex  Development: $449 million  Sustaining: $203 million (includes closure)  Capacity: 2.8 Mtpa  Life of mine: 15 yea

  20. Slide 20: China: Eastern Dragon

    China: Eastern Dragon Moving forward Eastern Dragon Timeline  PPA approval expected in Q2 2015  Recommence construction in H2 2015 www.eldoradogold.com 20

  21. Slide 21: Brazil: Positive Tocantinzinho Feasibility Study

    Brazil: Positive Tocantinzinho Feasibility Study Key Highlights  IRR of 13.5%  NPV of $245 million at 5% discount rate  Estimated cash operating cost: $572/oz  Capex  Development: $466 million  Sustaining: $64 million (includes closure)  Capacity: 4 Mtpa through three stage crushing and ball

  22. Slide 22: Solid Financial Performance

    Solid Financial Performance Q1 Financial Highlights Leading Balance Sheet Q1 Financial Position Low AISC & Cash Costs

  23. Slide 23: Q1 2015 Financial Highlights

    Q1 2015 Financial Highlights Consistent financial performance Q1 2014 Q1 2015 1,299 1,232 247.6 224.0 96.8 77.1 37.3 19.5 Avg Realized Gold Price Revenues Gross Profit from Gold Adjusted Net Earnings Financial Results ($ millions except where noted) Q1 2014 Q1 2015 Revenues from all metals 279.9 238

  24. Slide 24: Industry Leading Balance Sheet

    Industry Leading Balance Sheet Significant cash, liquidity and financial flexibility Long-Term Debt Maturities Liquidity: ~$869 million Notes Outstanding $600 M Coupon 6.125% Due Dec 2020 $375 Moody’s: Ba3; Standard & Poor’s: BB $494 Financial Position at end Q1 Cash equivalents and term deposits $4

  25. Slide 25: Net Debt to 2015E EBITDA

    Net Debt to 2015E EBITDA Effectively managing our growth 3 2.7 2.7 2.5 2 1.6 1.5 1.5 1.4 1.1 1 0.5 0.3 0 Yamana Barrick Goldcorp Newmont Agnico Kinross Eldorado Source: Bloomberg - April 8, 2015 www.eldoradogold.com 25

  26. Slide 26: 2015 All-in Sustaining Cash Costs

    2015 All-in Sustaining Cash Costs Industry leading low costs 1,400 1,200 1,000 800 $/oz 600 400 200 0 IMG AGI AUQ CG KGC TMM GG NEM ABX ELD BTO LSG AEM NGD SMF Q1 ELD Operating Exploration G&A Other Sustaining Source: TD Securities Includes total cash costs, sustaining capital expenditure, corporate

  27. Slide 27: Core Strengths

    Core Strengths Our Approach Strong Reputation Scorecard

  28. Slide 28: At the Core of the Company

    At the Core of the Company Our way of doing business Health & Safety Environment  Occupational health programs  Operate to stringent standards  Ongoing training  Continuous monitoring  Use of best available techniques  Regular external auditing Engagement Community  Governments  Communities

  29. Slide 29: 2015 Targets

    2015 Targets Focusing on delivery Operational  Produce between 600,000-700,000 oz Au @ cash costs of $570-615/oz Excellence  Maintain Au reserves between 20-25 times production rate  Continue to advance our Skouries & Olympias projects  Begin implementation of a select number of MAC TSM protocol

  30. Slide 30: Gold Resources and Reserves

    Gold Resources and Reserves At December 31, 2014 Total Proven and Probable Total Measured and Indicated Inferred Resources Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (x1000) (Au g/t) (x1000) (x1000) (Au g/t) (x1000) (x1000) (Au g/t) (x1000) Certej 46,984 1.63 2,458 111,115 1.35 4,81

  31. Slide 31: Thank You

    Thank You TSX: ELD NYSE: EGO Investor Relations: Krista Muhr, VP IR Total shares outstanding: 716.6M* 604 601 6701 kristam@eldoradogold.com www.eldoradogold.com *At Mar 31, 2015

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