Slide 1: Corporate Presentation September 2025
CORPORATE PRESENTATION September 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 31 July 2025 Ticker LSE | TSX: EDV, OTXCQ: EDVMF Shares outstanding as at 31 July 2025 242m Rank Institution name % of S/O 1 BlackRock, Inc. 16.7% Share price as at 31 July 2025 £23.00 / C$41.60 2 La Mancha 15.5% Market cap as at
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 0.05 LTM LTIFR compared to an Industry average
Slide 11: On Track to Meet Full Year Guidance
ON TRACK TO MEET FULL YEAR GUIDANCE OPERATIONAL EXCELLENCE Strong first half positions the Group well to meet FY-2025 guidance 0.05 GROUP SAFETY LTM LTIFR +58% 1.14 Industry Average1 647koz Of lower end of production GROUP H1 guidance achieved in H1 PRODUCTION2 1,110koz 1,260koz FY-2025 Guidance H1-
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: Operational Excellence: All-In Sustaining Margin
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 28% 36% 39% 40% 52% 50% 53% 50% 48% 57% $2,953/oz 57% All-In Sustaining Margin $2,349/oz 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% DELEVERAGING AND DEBT REDUCTION FUND GROWTH AND FUND GROWTH AND SHAREHOLDER RETURNS FOCUS DELIVER SHAREHOLDER RET
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 discovery target (2021-2025) 1.9 Exploration spend Group M&I resource grade 20.7Moz Discovered 1.9Moz 4.0Moz Moz Discov
Slide 21: Unlocking Exploration Value: Discovery Target Achieved
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 Assafou Lafigué $10m M&I resources discovered in 2021 - 2023 $5m Remaining Indicated reso
Slide 22: Fast Turnaround from Discovery to Production
UNLOCKING EXPLORATION VALUE UNLOCKING EXPLORATION Fast turnaround from discovery to production Houndé Mine Ity Mine Feasibility Commercial Feasibility Optimisation & Commercial Acquisition Study Permit Construction Production Acquisition Study Construction Production 2012 2013 2015 2016 2017 5 YEARS
Slide 23: Assafou Project, Côte d'Ivoire
ASSAFOU PROJECT, CÔTE D’IVOIRE UNLOCKING EXPLORATION PFS confirms Assafou’s potential as tier 1 asset for Endeavour Production profile Production (koz) AISC ($/oz) PRE-FEASIBILITY STUDY KEY METRICS 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: Unlocking Satellite Targets at Tanda-Iguela
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: Strong Free Cash Flow Generation
STRONG FREE CASH FLOW GENERATION Strong free cash flow generated since completion of growth phase Free Cash Flow and Free Cash Flow per ounce $879m of free cash flow generation in Free Cash Flow LTM since the completion of growth phase, equivalent to $687/oz produced. FCF/oz $514m $794/oz $365m Free
Slide 27: Robust Financial Position
ROBUST FINANCIAL POSITION Leverage comfortably below 0.50x target following rapid deleveraging Evolution of leverage Net debt / LTM adjusted EBITDA 0.23x ABILITY TO FUND GROWTH AND DELEVERAGING AND INCREASING DELIVER SHAREHOLDER RETURNS SHAREHOLDER RETURNS Net debt / LTM Adj. EBITDA 0.81x as at 30 J
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: Shareholder Returns Programme
SHAREHOLDER RETURNS PROGRAMME Increasing commitment to shareholder returns following investment phase Shareholder returns programme Share buybacks Minimum dividend Returns $338/oz Production Supplemental dividend Supplemental shareholder returns for 1.4bn H1-2025 $66/oz $181/oz $212/oz $227/oz $251/
Slide 30: 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 31: Valuation Benchmark
VALUATION BENCHMARK Endeavour offers a compelling valuation across gold miners and other sectors 18.7x 14.6x 9.2x 10.5x 10.7x 8.9x EV/EBITDA 5.3x 7.1x 8.3x 8.3x (Next Twelve Months) 3.5x 3.7x Energy Endeavour Gold Materials Consumer Financials Utilities Industrials Health Comms TMT Real Estate minin
Slide 32: Being a Trusted Partner
BEING A TRUSTED PARTNER Sustainability efforts underpin top ESG ratings Sustainalytics scores1 Low Endeavour MSCI rating evolution2 Severe Endeavour Mining 2025 7% Medium Endeavour (2025) Endeavour (2024) 2024 AA 41% Gold Peer 22% Endeavour (2023) Risk Agnico Eagle Rating 2023 AA Polymetal 30% Eldor
Slide 33: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 2 33
Slide 34: H1-2025 Highlights
H1-2025 HIGHLIGHTS Delivering against our strategic objectives Operational Advancing Delivering Performance Organic Growth Exploration Success H1-2025 2025 Guidance On track for completion by $51m spend in H1-2025 with 224km early 2026 drilled Production 647koz 1,110 – 1,260koz Assafou Environmental
Slide 35: On Track to Achieve Full Year Guidance
ON TRACK TO ACHIEVE FULL YEAR GUIDANCE Strong operating performance in line with outlook Production and All-In Sustaining Margin Production, koz All-In Sustaining Margin, US$/oz Realised -35koz Gold Price1 363koz 341koz 306koz 270koz $1,654/oz $1,692/oz Production 251koz Q2-2025 vs Q1-2025 $1,449/oz
Slide 36: Financial Highlights
FINANCIAL HIGHLIGHTS Continued strong performance in Q2-2025 QUARTER ENDED 30 Jun 31 Mar 30 Jun Q2-2025 vs. (in $ million unless otherwise stated) 2025 2025 2024 Q1-2025 10% OPERATIONAL HIGHLIGHTS Gold Production, koz 306 341 251 (10%) Gold Sold, koz Total Cash Cost1,2, $/oz 304 1,220 353 929 238 1,
Slide 37: EBITDA and EBITDA Margin
EBITDA AND EBITDA MARGIN EBITDA and EBITDA margin growth EBITDA EBITDA EBITDA Margin +10% Realised Gold Price1 $596m $540m EBITDA Q2-2025 vs Q1-2025 $357m +7pp 59% $193m 52% 35% 38% $128m 18% EBITDA margin $2,287/oz $2,342/oz $2,590/oz $2,783/oz $3,150/oz Q2-2025 vs Q1-2025 Q2-2024 Q3-2024 Q4-2024 Q
Slide 38: Operating Cash Flow
OPERATING CASH FLOW Operating cashflow reflects the expected tax seasonality Operating cash flow and tax payments Operating cashflow Cash tax payments Realised 252m Gold Price1 $39m $ Operating cash flow $17m Q2-2025 $233m $163m $65m $494m $258m $252m $381m $252m - 9% Pre-tax operating cash flow Q2-
Slide 39: Operating Cash Flow Bridge
OPERATING CASH FLOW BRIDGE Operating cashflows impacted by scheduled tax payments INSIGHTS Operating cash flow bridge 1. The realised gold price, inclusive of realised losses on gold hedges as part of the Group’s Revenue Protection Programme, increased by $112m $367/oz from $2,783/oz in Q1-2025 to $
Slide 40: Free Cash Flow
FREE CASH FLOW High seasonal tax payments impacted Q2 free cash flow Free Cash Flow Operating Cashflow Free Cash Flow Investing Cashflow $494m $233m taxes paid during Q2-2025, ~55% of FY-2025 taxes $ 104m $381m Free Cash Flow $409m Q2-2025 $252m $255m $252m $268m $81m $97m $104m ($171m) ($158m) ($11
Slide 41: Change in Net Debt
CHANGE IN NET DEBT Stable leverage remains significantly below long-term target INSIGHTS Change in net debt 1. Operating activities included $296m in operating cashflow before changes in working capital and a $44m working capital $49m outflow. $469m 2. Investing cash outflows included $59m of 4 sust
Slide 42: Net Earnings from Operations
NET EARNINGS FROM OPERATIONS Increase in net earnings quarter-on-quarter before adjustments INSIGHTS 3 MONTHS ENDED 1. Other expenses included $11m in acquisition and 31 Jun 31 Mar (in $ million) A = Adjustments made for Adjusted Net Earnings restructuring costs primarily related to the early dismis
Slide 43: Debt Structure
DEBT STRUCTURE Senior notes re-financing improved capital structure Change in debt drawn INSIGHTS › On 29 May 2025, the Company completed an offering ($m) Interest Rate Maturity 30 Jun 2025 31 Mar 2025 31 Dec 2024 of $500.0 million fixed rate senior notes due in 2030 $370m $500m Senior Notes 5.00 %
Slide 44: Stable Credit Rating
STABLE CREDIT RATING S&P credit rating is capped by sovereign rating S&P long-term foreign currency debt credit ratings Cote d’Ivoire BB BB- Endeavour BB- S&P rating Senegal B- Stable Outlook across all Burkina Faso CCC+ jurisdictions 44
Slide 45: Short Term Revenue Protection Programme
SHORT TERM REVENUE PROTECTION PROGRAMME Increased certainty of cash flows during growth and debt reduction phases INSIGHTS Gold collars Gold price in US$/oz › In Q2-2025, approximately 50koz were delivered into a collar with an average call 3,400 price of $2,400/oz and an average put price of $1,992
Slide 46: Tackling Inflationary Pressures
TACKLING INFLATIONARY PRESSURES Stable cost base supporting improving margins Internal Factors Impacting AISC External Factors Impacting AISC All-in sustaining margin Contractors ~20% AISC Component % of Multi-year contracts in place on mining Insights AISC contractors at Ity and Mana Salaries ~19%
Slide 47: FY-2025 Guidance
FY-2025 GUIDANCE FY-2025 Capital Expenditure Guidance FY-2025 H1-2025 UPDATED GUIDANCE (All amounts in US$m) GUIDANCE Production Guidance Houndé 25 40 40 Ity 11 20 20 (All amounts in koz, on a 100% H1-2025 FY-2025 GUIDANCE Mana 47 60 60 basis) Sabodala-Massawa 28 60 60 Houndé 161 230 — 260 Lafigué 2
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 44.2m 42.4m 39.4m 38.0m 38.1m LTIFR in Q2-2025 0.13 0.12 0.11 0.05 0.05 STABLE LTIFR Q2-2025 vs Q1-2025 Q2-2024 Q3-2024 Q4-2024 Q1
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: H1-2025 Performance vs Guidance
H1-2025 PERFORMANCE VS GUIDANCE Group on track to achieve full-year guidance following a strong start to the year OUTLOOK H1-2025 Production vs Guidance OUTLOOK H1-2025 AISC vs Guidance ON ON $975/oz $1,100/oz Ity H1 H1 TRACK TRACK 168koz 290 - 330koz $1,025/oz ON ON $1,225/oz $1,375/oz Houndé H1 H1
Slide 52: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Snapshot 250-280koz $1,100-1,250/oz 3.26Moz 5.19Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Sabodala-Massawa complex has potential to become a Construction of the Sabodala-Massawa expansi
Slide 53: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • BIOX throughput optimisation targeting +10-15% Resources shown Tonnage Grade Content inclusive of Reserves (on a 100% basis) (Mt) (Au g/t) (Au koz) • Exploring for new high-grade CIL ore sources on newly
Slide 54: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE BIOX recoveries continue to improve Q2-2025 vs Q1-2025 INSIGHTS Production and AISC1 Production, koz AISC, US$/oz 70koz 72koz › Production decreased due to lower tonnes milled 62koz through both the CIL and BIOX processing plants with 57koz 54koz lower average grade and recover
Slide 55: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Overview of Sabodala-Massawa technical review Reserves and resources Detailed review of eight non-refractory and refractory deposits, incorporating 317km of drilling across 7,300 additional grade- control drill holes, confirmed the tonnage, grade and endowment of all deposits u
Slide 56: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE No change to mineral endowment following internal and external review INSIGHTS Sabodala-Massawa Reserves & Resources N Non-refractory Tonnage Grade Content › The technical review evaluated the existing reserves N Kiesta OP R Refractory (Mt) (Au g/t) (Au koz) and resources (“R&R
Slide 57: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Unlocking BIOX throughput and recoveries INSIGHTS BIOX processing history Throughput, kt Recovery, % Q4-2024 recoveries BIOX Throughput: impacted by scheduled plant shutdowns to connect the 78.3% › Throughput is targeting 15% above design nameplate by Q1-2026. 75.3% solar power
Slide 58: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Scoping underway for high-grade underground expansion INSIGHTS Underground reserves and resources As at 31 December 2024 › Feasibility level scoping work is underway to update the Tonnage Grade Content (kt) (Au g/t) (Au koz) Sabodala-Massawa underground mine plan. Total Sabodal
Slide 59: Sabodala-Massawa Mine
SABODALA-MASSAWA MINE Near term exploration focussed on adding high-grade CIL ore INSIGHTS Sabodala-Massawa overview › Following success in the FY-2024 exploration campaign at Sabodala-Massawa, the Kiesta C and Soukhoto high grade, non-refractory deposits were incorporated into the mine plan and are
Slide 60: 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 61: 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 62: 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 63: 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 64: 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 of $15.0 million was initially planned for FY-2025, of which $14.6 million was spent in H1-2025 and $7.3 million was spent in Q2-2025 consisting
Slide 65: Niakafiri West - Near-Term Production
NIAKAFIRI WEST - NEAR-TERM PRODUCTON Niakafiri West within 2km of the Sabodala processing plant 65
Slide 66: 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 and Sabodala Plant 30Km Sira targets. A › The anomaly was drilled in Q1- 2024, identifying a potentially large resource with near surface mineralisation that i
Slide 67: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants A A’ 67
Slide 68: Kawsara - New Discoveries
KAWSARA - NEW DISCOVERIES Potentially large resource approximately 30km southeast of the Sabodala plants B B’ 68
Slide 69: Massawa Underground – Long-Term Upside
MASSAWA UNDERGROUND – LONG-TERM UPSIDE Continuation of high-grade Massawa North Zone at depth 50 69
Slide 70: Ity Mine
ITY MINE Snapshot 290-330koz $975-1,100/oz 3.55Moz 5.42Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Ity mine is one of Endeavour’s cornerstone assets. It has the The CIL plant was successfully built ahead of lo
Slide 71: Ity Mine
ITY MINE Overview KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 Tonnage Grade Content • Continued inclusion of new discoveries, including Le Plaque, to Resources shown (Mt) (Au g/t) (Au koz) provide greater mining and processing flexibility. inclusive of Reserves (on a 100% basis)
Slide 72: Ity Mine
ITY MINE Consistent quarter over quarter production Q2-2025 vs Q1-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production remained stable as lower tonnes of ore milled 96koz was offset by higher average grades processed and higher recoveries. 84koz 84koz 84koz 77koz › AISC increa
Slide 73: Ity Exploration Strategy Overview
ITY EXPLORATION STRATEGY OVERVIEW Focussed on maintaining mine life 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 Daap
Slide 74: 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 75: 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 at Ity, in close proximity to the processing plant. Processing Plant Zia Bakatouo › Added 1.
Slide 76: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on extending mineralisation at known deposits and greenfields on the Ity trend INSIGHTS › An exploration programme of $10.0 million was planned for FY-2025, of which $12.5 million was spent in H1-2025 and $7.2 million was spent in Q2-2025 consisting of 53,400 met
Slide 77: West Flotouo
WEST FLOTOUO High grade discovery close to the Ity CIL plant 77
Slide 78: 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 79: Delta Extension
DELTA EXTENSION Mineralisation extends below pit shell 79
Slide 80: 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 granodioriteintrusion in t
Slide 81: 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 82: Gbampleu
GBAMPLEU New discovery is a promising target on the Toulepleu-Ity greenstone belt 82
Slide 83: Houndé Mine
HOUNDÉ MINE Burkina Faso 230-260koz $1,225-1,375/oz 2.64Moz 3.27Moz As at As at 2025 Guidance 2025 Target 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Houndé mine is one of Endeavour’s The goal is to delineate sufficient additional resources cornerstone
Slide 84: Houndé Mine
HOUNDÉ MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Greater mining flexibility with multiple available ore sources Resources shown Tonnage Grade Content (Mt) (Au g/t) (Au koz) following stripping at Vindaloo and the incorporation of Kari Pump inclusive of Reser
Slide 85: Houndé Mine
HOUNDÉ MINE Strong H1-2025 driven by high grade Kari Pump ore Q2-2025 vs Q1-2025 INSIGHTS Production and AISC › Production decreased due to lower average grades Production, koz AISC, US$/oz following high grade Kari Pump feed in Q1-2025, partially 109koz offset by higher tonnes milled. 92koz › AISC
Slide 86: Houndé Mine Production Plan
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 87: 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 88: Near Term Exploration Focus
NEAR TERM EXPLORATION FOCUS Focussed on near mine exploration targets INSIGHTS › An exploration programme of $7.0 million is planned for FY-2025, of which $3.3 million was spent in H1- 2025 and $2.7 million was spent in Q2-2025, consisting of over 9,700 meters of drilling across 62 holes. The FY-202
Slide 89: 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 90: Vindaloo Deeps
VINDALOO DEEPS Mineralisation remains open at depth below the current pit shell 90
Slide 91: Mana Mine
MANA MINE Burkina Faso 160-180koz $1,550-1,750/oz 0.68Moz 1.72Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Mana mine is located in the northern part Recent discoveries resulted in the development of of the high
Slide 92: Mana Mine
MANA MINE Burkina Faso KEY OPPORTUNITIES RESERVES AND RESOURCES as at 31 December 2024 • Mine life extensions through open pit and underground exploration Tonnage Grade Content Resources shown (Mt) (Au g/t) (Au koz) • Increasing development rates across three portals at Wona and one inclusive of Res
Slide 93: Mana Mine
MANA MINE Consistent production expected in H2-2025 Q2-2025 vs Q1-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production decreased due to lower grades processed 46koz and slightly lower tonnes of ore milled, while 41koz 41koz recoveries remained stable. 35koz › AISC increased du
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 $3.0 million was planned for FY-2025, of which $2.7 million was spent in H1-2025 and $1.7 million was spent in Q2-2025, consisting of 4,500 metres of drilling across 8
Slide 96: Lafigué Mine
LAFIGUÉ MINE Côte d’Ivoire 180-210koz $950-1,075/oz 2.36Moz 2.90Moz As at As at 2025 Guidance 2025 Guidance 31 December 2024 31 December 2024 Production AISC P&P Reserves M&I Resources1 Overview The Lafigué project will become Endeavour’s next cornerstone asset. It also demonstrates the capabilities
Slide 97: Lafigué Mine
LAFIGUÉ MINE Strong H1-2025 as throughput exceeds nameplate Q2-2025 vs Q1-2025 INSIGHTS Production and AISC Production, koz AISC, US$/oz › Production increased due to an increase in mill 60koz throughput, partially offset by lower average grades, while recovery rates remained consistent. 48koz 49koz
Slide 98: Lafigué Mine Production Plan
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: Lafigué Exploration Property
LAFIGUÉ 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 $5.0 million was planned for FY-2025, of which $0.5 million was spent in H1-2025 and $0.3 million was spent
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
ASSAFOU PROJECT Tanda-Iguela Property, Côte d’Ivoire 105
Slide 106: Assafou Project
INSIGHTS › PFS, based on 31 October 2023 cut-off was completed in December 2024. › Definitive Feasibility Study ("DFS") was immediately launched with key updates ASSAFOU PROJECT Côte d’Ivoire on critical path items outlined below: › Lycopodium, the lead consultant for the DFS and Endeavour’s EPC or
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 2024 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 TO PEOPLE AND SOCIETY We achieve this by... ENVIRONMENT SOCIETY GOVERNANCE Climate change Economic development Respect for human rights Education Zero harm & employee Water stewardship well-being Biodiversity Health Diversity and inclusio
Slide 122: 2024 Sustainability Report Highlights
WORKING AS A TRUSTED PARTNER 2024 Sustainability Report highlights continued sector leading ESG performance 2024 SUSTAINABILITY 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 53 B- 49 54 C C C 45 42 39 D- 2019 2020 2021 2022 2023 2024 202
Slide 124: Towards Net Zero
TOWARDS NET ZERO INSIGHTS TARGETS › Net Zero ambition for Scope 1 and 2 emissions by 2050 Emissions Intensity target of 2025 › Medium-term target: 30% reduction in Scope 1 and 2 intensity by 2025 <600tCO2e/oz › These targets are aligned with the Paris Agreement (< 2°C global warming) 30% reduction i
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
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
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… Mines Development Projects Advanced Exploration Birimian Greenstone Belt …only represents ~30% of production Endeavour has the largest lan
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 $108/oz West African projects have the lowest capit
Slide 146: West African Production Growth
REGION’S PRODUCTION GROWTH WEST AFRICAN PRODUCTION GROWTH Burkina Faso Côte d’Ivoire Mali Senegal Guinea Ghana Other1 % of Mine Supply WEST AFRICA Annual Production % of Global Production 16Moz 14% IS THE FASTEST- GROWING GOLD 14Moz 12% PRODUCING REGION 12Moz 10% 10Moz 8.5% compound annual 8% growth
Slide 147: West African Gold Production by Country
PRODUCTION FOR THE REGION WEST AFRICAN GOLD PRODUCTION BY COUNTRY FY-2024 gold production by country WEST AFRICA 15Moz IS THE LARGEST GLOBAL GOLD PRODUCING 12Moz REGION 11Moz 6 out of the top 10 senior gold producers 9Moz have a presence in West Africa, with Endeavour being the largest producer in 7
Slide 148: Favourable Mining Jurisdictions
PRODUCTION WEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU) FAVOURABLE MINING JURISDICTIONS Stable mining code and a well-balanced profit-sharing framework to encourage investment into the mining sector. WAEMU has adopted standardised tax principles across member countries, creating consistency that
Slide 149: Alignment of Mining Codes
ALIGNMENT OF MINING CODES Well-aligned mining codes across West Africa CÔTE D’IVOIRE BURKINA FASO SENEGAL Low High Rate Low High Rate Government 0 1,000 3.00% 0 1,000 3.00% Royalty rate at 1,000 1,300 3.50% 1,000 1,300 4.00% US$/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 in 2019 Officer Development as a Director • 25+ years experience in s
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 Mid-point of guidance Beat high-end of guidance 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 25% Ranked 10th to 6th place Ranked 10th to 6th place Top 5 performers (Rank 1-20)1 Dividends2 25% $600m $648m $700m Net debt2 10% ≤0.5x ≤0.5x ≤0.3x Projects & Exploration 25% A drill programme executed T
Slide 161: Appendix 2: Mine Statistics & Additional Information
02 APPENDIX 2 Mine statistics & additional information
Slide 162: Mine Statistics - Quarterly
MINE STATISTICS On a quarterly basis ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Q2-2025 Q1-2025 Q2-2024 Q2-2025 Q1-2025 Q2-2024 Q2-2025 Q1-2025 Q2-2024 Q2-2025 Q1-2025 Q2-2024 Q2-2025 Q1-2025 Q2-2024 (on a 100% basis) Physicals Total tonnes mined – OP1 000t 7,844 8,373 7,132 13,490 11,334 11,619 — — 2
Slide 163: Mine Statistics - Year to Date
MINE STATISTICS On a year-to-date basis (on a 100% basis) ITY HOUNDÉ MANA SABODALA-MASSAWA LAFIGUÉ Physicals H1-2025 H1-2024 H1-2025 H1-2024 H1-2025 H1-2024 H1-2025 H1-2024 H1-2025 H1-2024 Total tonnes mined – OP1 000t Total ore tonnes – OP 000t 16,218 14,538 24,824 22,716 — 930 19,437 20,577 26,317
Slide 164: Appendix 3: Reserves and Resources, 5-Year Exploration Target
03 APPENDIX 3 Reserves and Resources, 5-year exploration target
Slide 165: 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 166: Notes to Reserves and Resources
NOTES TO RESERVES AND RESOURCES As at 31 December 2024 166
Slide 167: 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 168: 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