Slide 1: First Quarter 2025 Results
First Quarter 2025 Results May 7, 2025 Uniquely positioned to DELIVER SUPERIOR VALUE TSX: DPM 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “guidance”, “outlook”
Slide 3: Use of Non-GAAP Measures
Use of Non-GAAP Measures Certain financial measures referred to in this presentation are not measures recognized under IFRS and are referred to as Non-GAAP financial measures or ratios. These measures have no standardized meanings under IFRS and may not be comparable to similar measures presented by
Slide 4: First Quarter 2025 Highlights
First Quarter 2025 Highlights
Slide 5: First Quarter Highlights
First Quarter Highlights On-track Strong to meet guidance free cash flow2 Higher production expected in Generated $79M in Q1 2025 H2 20254 Continued Advancing capital discipline growth pipeline Record 7.5 million shares repurchased Loma Larga FS on track for Q2; in Q1 2025 Čoka Rakita FS expected en
Slide 6: Chelopech Operating Highlights
Chelopech Operating Highlights • On-track to meet 2025 guidance Q1 2025 Q1 2024 2025 Guidance4 Ore processed Kt 533 521 2,090 - 2,200 Head grades Gold g/t 2.61 2.78 Copper % 0.60 0.70 Recoveries Gold % 83.6 80.5 Copper % 84.5 83.5 Metals contained in concentrates produced Gold Koz. 37.4 37.5 160 - 1
Slide 7: Ada Tepe Operating Highlights
Ada Tepe Operating Highlights • Production expected to double in second half of the year compared to the first half; on track to meet guidance Q1 2025 Q1 2024 2025 Guidance4 Ore processed Kt 147 180 610 - 700 Gold grade g/t 3.29 5.13 — Gold recovery % 79.0 84.8 — Gold contained in concentrate produc
Slide 8: Advancing the Čoka Rakita Project
Advancing the Čoka Rakita Project PFS Highlights5 2025 planned activities: • Completion of surface and underground geotechnical & hydrogeological drilling 170koz. annual gold production (first 5 full years) • Advancing permitting to support construction start-up in mid-2026 $644/oz. Au sold • Progre
Slide 9: Multiple High-Grade Targets in Close Proximity to Čoka Rakita
Multiple High-Grade Targets in Close Proximity to Čoka Rakita 55,000 metre drilling program • Dedicated target delineation allocated to highest priority targets • Increasing number of drill rigs: 14 currently deployed Dumitru Potok open in multiple directions • Mineralization detected over 1km strik
Slide 10: Progressing the Loma Larga Gold Project
Progressing the Loma Larga Gold Project Advancing permitting, stakeholder engagement and technical work in support of a disciplined decision in best interest of shareholder value Continued progress on permitting • Ministry of Energy and Mines continues to advance the free, prior and informed consult
Slide 11: Financial Results Highlights
Financial Results Highlights
Slide 12: Financial Highlights
Financial Highlights • Record level of share repurchases during the quarter All operational and financial information is related to continuing operations Strong free cash flow2 $ millions except where noted Q1 2025 Q1 2024 % change $79M Revenue 144 124 16% Adjusted net earnings3 55 33 70% Adjusted n
Slide 13: Key Cost Metrics and Capital Expenditures
Key Cost Metrics and Capital Expenditures All-in sustaining cost1 Cash cost Capital expenditures $ per ounce of gold sold $ per tonne of ore processed $ millions MTM for share-based compensation expense impacted AISC by $214/oz. in Q1 2025 6 4 4 All in sustaining cost Average realized price Q1 2025
Slide 14: Record Shareholder Returns in Q1 2025
Record Shareholder Returns in Q1 2025 Maintaining a strong $351M balance sheet $305 $252 $211 $228 Investing in organic $166 growth & exploration projects $96 $90 $79 $79 $32 $43 $30 - $35 $11 Enhanced share buyback $33 - $39 2020 2021 2022 2023 2024 Q1 2025 2 up to $200M in 2025 Free cash flow Capi
Slide 15: Continuing to Deliver Value and Advance Next Phase of Growth
Continuing to Deliver Value and Advance Next Phase of Growth DPM’s strong fundamentals represent an attractive value opportunity High-margin Robust Advancing organic Continued production base free cash flow generation growth pipeline capital discipline • 200,000 Au oz. average • Generated $79M of fr
Slide 16: Footnotes
Footnotes 1 Cost of sales per ounce of gold sold represents cost of sales for Chelopech and Ada Tepe, divided by payable gold in concentrate sold. This measure is before by-product credits. All-in sustaining cost per ounce of gold is a non-GAAP ratio which represents cost of sales less depreciation,
Slide 17: Corporate Head Office and Investor Relations
Corporate Head Office 150 King Street West, Suite 902 Toronto, Ontario M5H 1J9 T: 416 365-5191 Investor Relations jcameron@dundeeprecious.com T: 416 219-6177 www.dundeeprecious.com TSX: DPM 17