Slide 1: Second Quarter 2026 Investor Call: Unsurpassed Growth Potential
Second Quarter 2026 Investor Call | August 13, 2026 TSX:DSV OTCQX: DSVSF Unsurpassed Growth Potential
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All information, other than statements of historical facts, included in this presentation that address activities, events or developments that Discover
Slide 3: Additional Cautionary Language
ADDITIONAL CAUTIONARY LANGUAGE Third Party Information: This presentation includes market and industry data which was obtained from various publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independen
Slide 4: Targeting Substantial Value Creation
TARGETING SUBSTANTIAL VALUE CREATION Opportunity for transformative growth at existing assets 2025 Production Future Opportunity2 234 koz Gold1 >500 koz/yr Gold Low AISC Critical minerals 3 operating mines Bottom half of (Zn, Cu, Pb) at Porcupine 14 Moz/yr Silver3 global cost curve Invest capital to
Slide 5: Q2 2026 – Key Developments Supporting Growth
Q2 2026 – KEY DEVELOPMENTS SUPPORTING GROWTH Completed Kidd Acquisition Outstanding exploration success Ramped up capital expenditure programs 5
Slide 6: Kidd Operations
KIDD OPERATIONS MILLING CAPACITY & FLEXIBILITY Kidd Creek Mine New gold circuit to add 5 – 7 Mtpa1 Opportunity to process Borden material through flotation Potential to process different ores, including refractory material (TVZ) Tailings buttressing to add capacity and support gold tailings
Slide 7: Kidd Met Site – Conceptual Plan
KIDD MET SITE – CONCEPTUAL PLAN 3 ~1Mtpa Circuits 7
Slide 8: Exploration – Continued Outstanding Results
EXPLORATION – CONTINUED OUTSTANDING RESULTS Pamour: - Confirmed to be large-scale deposit - 4 km strike length - Deposit remains open to east, west, north and to depth - Undertaking mine re-design to significantly larger scale Dome: - Excellent grades and widths within and outside resource TVZ: - Po
Slide 9: Investing in Assets for Growth & Optimization
INVESTING IN ASSETS FOR GROWTH & OPTIMIZATION Total capital expenditures of $86.4M1 in Q2 2026 Q2 2026 YTD 2026 Sustaining Capex1: $36.3M $57.0M Growth Capex1: $43.3M $83.1M Cordero: $0.1M $2.4M Capitalized Exploration: $6.7M $13.9M 1. Example of Non-IFRS Measure. See Slide 3 for more information. 9
Slide 10: Record Quarterly Production in Q2 2026
RECORD QUARTERLY PRODUCTION IN Q2 2026 2026 production to be weighted to second half of year Q2 2026 YTD 2026 Ounces produced (oz): 67,309 127,578 Ounces sold1 (oz): 66,068 125,513 Cash costs2,3 ($/oz sold) $1,387 $1,401 AISC2,3,4($/oz sold) $2,154 $2,101 1. Includes ounces delivered in kind under t
Slide 11: 2026 Guidance
2026 GUIDANCE Production Op. Cash Costs/oz AISC/oz 260 – 300 koz $1,250 – $1,400 $1,950 – $2,250 Royalties(1) Sustaining Capital Growth Capital $25 – $35M $120 – $165M $195 – $235M Cordero Exploration Corp. G&A $90 – $100M $55 – $75M $35 – $40M 11 1 Royalites are included in Op. Cash Costs/oz and AI
Slide 12: Financial Highlights
FINANCIAL HIGHLIGHTS Revenue Cash Cost1 AISC1 $319M $1,417 $1,387 $2,074 $2,154 $1,341 $1,339 $2,034 $2,041 $274M $285M $1,925 $1,185 $237M $142M Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 EBITDA Free Cash Flow Adjusted EPS
Slide 13: Q2 2026 Adjusted Net Earnings
Q2 2026 ADJUSTED NET EARNINGS Adjusted EPS of $0.11, Up 11% Quarter-over-Quarter $0.01 $0.11 $0.01 $0.01 $0.02 $0.06 Place photo here Q2 EPS Deferred tax - TSA/One-time PPA FV Inventory bump Other Q2 Adjusted EPS Kidd reclamation* *Deferred tax adjustment arose from a one-time discount rate change u
Slide 14: Capital Priorities
CAPITAL PRIORITIES Investing to Drive Future Growth Strengthening the Balance Sheet Investment in growth, organically and through acquisition, with the June 2026 purchase of the Kidd Mine and Mill bringing copper, zinc and silver production Net liquidity position of over into the portfolio $600M as
Slide 15: Q2 2026 Liquidity
Q2 2026 LIQUIDITY Continued strong liquidity of $607.8M, while Investing to Drive Future Growth 130.1 (56.1) 384.9 0.8 364.3 (85.4) (10.0) $607.8 million Q2 2026 Operating Working Capital MI/PPE Capital Purchase of Financing Q2 2026 Opening Cash Cash Flow Adjustments Expenditures Investments activit
Slide 16: Record Gold Production in Q2 2026
RECORD GOLD PRODUCTION IN Q2 2026 Strong growth in mining and processing rates, Q2 unit costs in line with guidance Gold production of 67,309 oz, up 33% Porcupine Q2 2026 Q1 2026 Q2 2025 YTD 2026 from Q2 2025, 12% from Q1 2026 Ore processed (t) 904,244 698,984 508,791 1,603,228 Higher tonnes mor
Slide 17: Kidd: First Month of Copper and Zinc Production
KIDD: FIRST MONTH OF COPPER AND ZINC PRODUCTION Profitable operations in first month after acquisition Kidd Operations YTD 2026 Production largely as planned Revenue ($ ‘000s) 29,671 o Copper produced: 1,286 tonnes Production costs ($ ‘000s) 18,915 o Zinc produced: 3,361 tonnes Earnings from minin
Slide 18: Pamour – Large, Growing Deposit
PAMOUR – LARGE, GROWING DEPOSIT 1 Royalites are included in Op. Cash Costs/oz and AISC/oz and are sensitive to gold price. 18
Slide 19: Pamour – Success at All Targets
PAMOUR – SUCCESS AT ALL TARGETS 1 Royalites are included in Op. Cash Costs/oz and AISC/oz and are sensitive to gold price. 19
Slide 20: Pamour West, North Contact & Keora Trend
PAMOUR WEST, NORTH CONTACT & KEORA TREND 1 Royalites are included in Op. Cash Costs/oz and AISC/oz and are sensitive to gold price. 20
Slide 21: Dome – Excellent Results In & Outside Resource
DOME – EXCELLENT RESULTS IN & OUTSIDE RESOURCE 1 Royalites are included in Op. Cash Costs/oz and AISC/oz and are sensitive to gold price. 21
Slide 22: Dome
DOME SOUTHWEST PIT LOCATION Excellent grades & widths NORTH PIT LOCATION Positive resultS below north wall 22
Slide 23: TVZ – Positive Results, Met Testing Underway
TVZ – POSITIVE RESULTS, MET TESTING UNDERWAY 23
Slide 24: Owl Creek: Exploration Ramp Being Developed
OWL CREEK: EXPLORATION RAMP BEING DEVELOPED 24
Slide 25: Borden: Results Confirm, Expand Main Zone & ELZ
BORDEN: RESULTS CONFIRM, EXPAND MAIN ZONE & ELZ 25
Slide 26: Borden: Main Zone Extended > 0.5 km
BORDEN: MAIN ZONE EXTENDED > 0.5 KM 26
Slide 27: Cordero Silver Project – Mexico
CORDERO SILVER PROJECT – MEXICO Positive site visit by SEMARNAT to Cordero on July 24, 2026 One of world’s largest 302 Moz 5.18 Blbs 2.96 Blbs 0.84 Moz undeveloped silver reserves1 Ag Zn Pb Au1 • Environmental impact assessment (“MIA”) awaiting formal approval from SEMARNAT • $90 – $100M budget in 2
Slide 28: Conceptual Growth Plan – Five-Years (2026 – 2031)
CONCEPTUAL GROWTH PLAN – FIVE-YEARS (2026 – 2031) Gold Production Potential (Koz) 500 koz/year 300 Current Re-designed Dome Mine Potential Owl Creek TVZ Production Pamour Mine Production growth at Production Development Borden 28
Slide 29: Unsurpassed Growth Potential
Second Quarter 2026 Investor Call | August 13, 2026 TSX:DSV OTCQX: DSVSF Unsurpassed Growth Potential
Slide 30: Discovery – Excellent Progress – Attractive Outlook
DISCOVERY – EXCELLENT PROGRESS – ATTRACTIVE OUTLOOK COMPLETED ACQUISITION OF KIDD OUTSTANDING EXPLORATION RESULTS INVESTMENT PROGRAMS RAMPING UP RECORD PRODUCTION & REVENUE IN Q2 2026 SOLID GROWTH IN ADJUSTED EARNINGS ON TRACK FOR A STRONG SECOND HALF OF 2026 1. Example of forward-looking informatio