Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (August 2026)
25 slides from Equinox Gold's investor presentation, August 2026
Slide 1: North America's New Senior Gold Producer
North America’s New Senior Gold Producer CORPORATE PRESENTATION AUGUST 2026 TSX: EQX NYSE-A: EQX
Slide 2: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward- Forward-looking Information contained or incorporated by reference to reflect actual results, future looking statements within the meaning of applicable securities legislation and
Slide 3: Equinox Gold: A Canada-Focused, North American Portfolio
Equinox Gold: A Canada-Focused, North American Portfolio JULY 2026 MERGER WITH ORLA MINING CREATED… 1.1 Moz +1.9 Moz MUSSELWHITE VALENTINE COMBINED ANNUAL Path to Achieve POTENTIAL ANNUAL GREENSTONE PRODUCTION CAPACITY1 GOLD PRODUCTION >800 Koz3 ORGANIC GROWTH IN NORTH AMERICA SOUTH CARLIN COMPLEX 6
Slide 4: Portfolio in Place: Delivering a Top Quartile Gold Company
Portfolio in Place: Delivering a Top Quartile Gold Company POSITIONED TO DELIVER TOP QUARTILE VALUATION Diversified portfolio weighted to Canada (Consensus Analyst NAV by Region)1 Tier 1 jurisdictions: 70% of production and 75% of consensus NAV in Canada and USA1 Growing Canadian gold production
Slide 5: A Leading Canadian Gold Producer
A Leading Canadian Gold Producer Equinox Gold is now the second-largest producer of Canadian gold Run-rate Top 15 Canadian Gold Producers production2 (2026 Annual Guidance Midpoint (koz) 2,955 778 685 475 450 410 323 295 280 278 248 235 200 193 193 148 Greenstone 1 Musselwhite + Valentine Source: Co
Slide 6: Updated 2026 Guidance: Growing Production and Cash Flow
Updated 2026 Guidance: Growing Production and Cash Flow 2026 GUIDANCE* 5 Months (August to December) of contribution from Musselwhite and Camino Rojo +1.1 Moz of full year production from all assets Greenstone Musselwhite Valentine Nicaragua Camino Rojo Mesquite Project Pipeline (Jan - Dec) (Aug - D
Slide 7: Leading Canadian Producer: Three Cornerstone Assets
Leading Canadian Producer: Three Cornerstone Assets Greenstone, Ontario Musselwhite, Ontario Valentine, Newfoundland ~320,000 oz gold ~235,000 oz gold ~223,000 oz gold AVG. ANNUAL PRODUCTION (2026-2036)1 ANNUAL PRODUCTION2 AVG. ANNUAL PRODUCTION (2026-2036)4 14+ year ~5.3 Moz ~28 years ~1.5 Moz 11+
Slide 8: Organic Growth: Clear Near-Term, Low-Risk Path to 1.9 Moz of Production
Organic Growth: Clear Near-Term, Low-Risk Path to 1.9 Moz of Production More than 800 koz of organic growth potential in North America VALENTINE1 Newfoundland, Canada • Phase 2 construction approved in Q3 2026 will double throughput to ~5.0 Mtpa ~48 koz 2.7 Moz Reserves • Phase 2 ramp-up targeted
Slide 9: USA Assets: ~75,000 oz Gold Today, Growth to +400,000 oz/year
USA Assets: ~75,000 oz Gold Today, Growth to +400,000 oz/year Mesquite Mine1 South Carlin Complex2 Castle Mountain1 California, USA Nevada, USA California, USA • Open-pit heap leach mine • 1.5 Moz P&P Reserves, 2.5 Moz M&I • 4.1 Moz P&P Reserves, 1.5 Moz M&I • More than 5 Moz gold production Resourc
Slide 10: Mexico Assets: ~115,000 oz Gold Today, Growth to +495,000 oz/year
Mexico Assets: ~115,000 oz Gold Today, Growth to +495,000 oz/year Camino Rojo, Zacatecas, Mexico1 Los Filos, Guerrero, Mexico • Open-pit gold-silver heap leach mine • 5.4 Moz P&P Reserves, 7.9 Moz M&I Resources3 • 2026 guidance: ~115,000 oz2 • ~280,000 oz/year production for 14 years from • Expansio
Slide 11: Re-Rate Potential: Significant Opportunity Based on Valuation of Peers
Re-Rate Potential: Significant Opportunity Based on Valuation of Peers Market Cap ($B) Price to NAV (ratio) 2026E Production (Moz Au) ’26E-’29E Prod. Growth (%) Total Reserves (Moz Au) (Analyst estimates) (Analyst estimates) (Analyst estimates) (Company reports) Gold Fields $29.6 Coeur 1.1x Gold Fie
Slide 12: Equinox Gold: Continued Momentum and Value Creation
Equinox Gold: Continued Momentum and Value Creation Positioned for value creation Quality long-life, high-margin gold assets 1,750,000 Second largest producer of Canadian gold growth pipeline 4 3 + 800,000 oz organic + 800,000 oz organic growth potential Proven track record and continued focus
Slide 13: Appendix
Appendix
Slide 14: Capital Structure
Capital Structure Common Shares 1 1,167.5 M Avg. Daily Shares Traded 5 TSX: 5.3 M + NYSE-A: 12.2 M Options and warrants 2 42.3 M Cash (at Jul 31, 2026) 6 ~$729 M Restricted Share Units 3 6.3 M Debt / Available Liquidity 7 ~$515 M / ~$1.2 B Potential Shares from Convertible Notes 4 31.5 M Convertible
Slide 15: Greenstone Upside: Extend Mine Life, Increase Production
Greenstone Upside: Extend Mine Life, Increase Production Greenstone Mine Geology Open pit Isometric view looking Northeast • Potential expansion of the open pit to the west Red blocks show ore above 1 g/t Au • Convert inferred resources within the open pit 500 m Expand throughput • Power and equipme
Slide 16: Greenstone Upside: Near-mine and Belt-scale Exploration Potential
Greenstone Upside: Near-mine and Belt-scale Exploration Potential Beardmore Greenstone Excellent discovery and growth potential within the Beardmore-Geraldton Belt including: • Two past-producing targets with combined 500 koz of M&I resources1 within trucking distance • Brookbank Deposit hosts 600 k
Slide 17: Valentine Phase 2 Expansion: 25% Production Increase
Valentine Phase 2 Expansion: 25% Production Increase Phase 2 expansion1 • Increasing throughput from 2.5 Mtpa to 5.0 Mtpa • $414 million capital cost for mill expansion, fleet expansion and on-site infrastructure expansion, including 20% contingency • 24-month construction underway in Q3 2026 follow
Slide 18: Valentine Gold Mine: Property Overview
Valentine Gold Mine: Property Overview View VRIFY 3D images 18
Slide 19: Valentine Upside: Multi kilometre Shear Zone with Significant New Discoveries
Valentine Upside: Multi kilometre Shear Zone with Significant New Discoveries • Discovery of new high-grade Minotaur Zone 8 km north of the mill • Frank Zone discovery along trend from existing Reserves indicates additional open pit potential1 - 2.43 g/t Au over 172.8 metres - 2.26 g/t Au over 78.3
Slide 20: Nicaragua Assets: ~225,000 oz/year
Nicaragua Assets: ~225,000 oz/year La Libertad & El Limon Operating Complex, Nicaragua • Operated using “hub-and-spoke” strategy with numerous mines feeding two mills • Combined processing capacity of 2.7 Mtpa, currently more than 1 Mtpa excess capacity • Prolific mining districts with >6 Moz histor
Slide 21: Proven & Probable Gold Mineral Reserves
Proven & Probable Gold Mineral Reserves1 Proven Probable Proven & Probable Mine/Project, Location Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Greenstone, Canada 6,900 0.75 164 172,500 0.93 5,169 179,300 0.93 5
Slide 22: Measured & Indicated Gold Mineral Resources
Measured & Indicated Gold Mineral Resources1,2,3 Measured Indicated Measured & Indicated Mine/Project, Location Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) (kt) (g/t) Gold (koz) Greenstone, Canada 22 0.51 0 53,949 1.71 2,966 53,970
Slide 23: Inferred Mineral Resources
Inferred Mineral Resources1 Inferred Mine/Project, Location Tonnes (kt) Grade (g/t) Contained Gold (koz) Greenstone, Canada 31,182 1.66 1,663 Brookbank, Canada 1,491 2.36 113 Kailey, Canada 7,758 0.55 138 Key Lake, Canada 4,905 1.00 158 Hasaga, Canada 2,059 7.31 484 Valentine, Canada 31,989 1.10 1,1
Slide 24: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Greenstone Gold Mine is summarized, derived, dated March 29, 2022 with an effective date of December 31, 2021. Scientific and technical or extracted from the “NI 43-101 Technical Report, Greenstone Pr
Slide 25: ir@equinoxgold.com www.equinoxgold.com
TSX: EQX NYSE-A: EQX +1 604.260.0516 ir@equinoxgold.com www.equinoxgold.com 25