Slide 1: Building a Leading Gold Mining Company in Latin America
Building a Leading Gold Mining Company in Latin America Full Year 2024 Earnings Results March 13, 2025 TSX: ARIS | NYSE-A: ARMN
Slide 2: Disclaimer
Disclaimer This presentation contains “forward-looking information” or “forward-looking statements” within the meaning of All-in Sustaining Cost (AISC) ($ per oz sold), AISC margin, EBITDA, adjusted EBITDA, adjusted earning, free cash flow, cash Canadian securities legislation. All statements includ
Slide 3: 2024 Highlights
2024 Highlights 1 Highest Quarterly Gold Production 57,364 ounces (oz) in Q4 2024, highest quarterly production of 2024 2 Record Quarterly Financial Results $22 million of net income1 and $67 million of EBITDA2 in Q4 2024 3 Strong AISC Margin Growth Segovia reduced its AISC/oz1 to $1,485/oz in Q4 20
Slide 4: Q4 2024 Operating Performance
Q4 2024 Operating Performance Q4 2024 was a standout quarter, Q4 2024 Q3 2024 2024 delivering our highest gold production of the year at Consolidated 57,364 oz Gold produced (ounces) 57,364 53,608 210,955 Slightly increased throughput and Segovia Operations a 7% increase in average gold grade proces
Slide 5: Q4 2024 Financial Results
Q4 2024 Financial Results (in US$ millions, unless stated otherwise) Q4 2024 Q3 2024 2024 13% increase in gold revenue in Q4 2024 reflecting stronger Gold revenue 148.4 131.6 499.3 gold sales and higher realized gold prices Income from mining operations 54.1 38.0 147.3 EBITDA1 66.6 27.8 147.5 42% in
Slide 6: 2024 Operational and Financial Highlights
2024 Operational and Financial Highlights 2024 Growth in Segovia’s AISC Margin1 ($ million) $2,642 $2,457 $23.0 $2,313 $2,062 $21.0 $58.3 $18.1 $44.1 $17.0 $35.3 $28.5 $32.2 $23.1 $11.4 $14.1 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Realized Gold Price $/oz CMP AISC Margin Owner AISC Margin ✓ $163 million of
Slide 7: Q4 & Full Year 2024 Summary Cashflow
Q4 & Full Year 2024 Summary Cashflow In US$ millions Q4 2024 Q3 2024 2024 Gold revenue $148.4 $131.6 $499.3 • 2024 gold revenue of $499.3 million 1 All-in sustaining costs (90.6) (91.2) (345.6) All in sustaining margin 57.8 40.4 153.7 • 2024 AISC1 margin of $153.7 million Taxes paid (25.2) (4.7) (38
Slide 8: Growth Projects: Segovia Processing Plant Expansion
Growth Projects: Segovia Processing Plant Expansion Phase 1: Complete • The new CMP receiving facility commenced accepting material in October 2024 Increasing processing Phase 2: Underway capacity from • Installation of a second ball mill in the former contractor receiving area • On schedule with mi
Slide 9: Growth Projects: Marmato Expansion
Growth Projects: Marmato Expansion Lower Mine construction progress update Access roads to the Lower Marmato Decline development underway Process plant foundation earthworks process facility and accommodation with 200 metres completed to 12% ahead of schedule as of the end of camp now 100% complete
Slide 10: Growth Projects: Enhanced Marmato Expansion
Growth Projects: Enhanced Marmato Expansion • Enhanced Marmato expansion includes: • upgrading the in-construction CIP processing facility by 25% to 5,000 tpd; and • expanding our CMP business model at existing Upper Mine flotation processing facility • The upgraded 5,000 tpd design will use the maj
Slide 11: Growth Projects: Enhanced Marmato Expansion (cont'd)
Growth Projects: Enhanced Marmato Expansion (cont’d) Estimated cost to complete expanded Marmato Lower Mine 2023 2025 Construction planning comparison Change Construction Plan Updated Plan Design capacity (tpd) 4,000 5,000 1,000 tpd, +25% Total upfront construction capital ($M) 280 365 $85 million,
Slide 12: 2025 Gold Production and AISC Guidance
2025 Gold Production and AISC Guidance1 Segovia Operations 2024 Guidance 2024 Actual 2025 Guidance2 Gold production (oz) 185,000 – 195,000 187,583 210,000 to 250,000 2025 CONSOLIDATED Cash cost (US$/oz) – Combined $1,125 to $1,225 $1,228 GOLD PRODUCTION GUIDANCE AISC (US$/oz) – Combined $1,400 to $1
Slide 13: Capitalization Overview
Capitalization Overview x EBITDA 1 2 (US$ million) Current (adjusted) Price Yield Coupon Maturity Rating Cash3 253 Corp: B1 / B+ / B+ Gold-Linked Secured 7.5% Notes4 40 0.2x 146 n/a 7.500% 26-Aug-27 -- Senior Unsecured 8.000% Notes4 450 2.8x 100.227 7.938% 8.000% 31-Oct-29 B1 / B+ / B+ Total debt 49
Slide 14: Key Takeaways from FY 2024 Financial and Operational Results
Key Takeaways from FY 2024 Financial and Operational Results Growing Expanding Financial PRODUCTION MARGINS STRENGTH ✓ Highest quarterly gold ✓ Segovia’s Q4 2024 AISC ✓ Cash balance of $253 million production of 2024 in Q4 margin of $58 million, 32% as of Dec 31, 2024 with 57,364 ounces increase ove
Slide 15: Appendix
Oliver Dachsel – SVP, Capital Markets Appendix odachsel@aris-mining.com Lillian Chow – Director, Investor Relations & Communications info@aris-mining.com | www.aris-mining.com lchow@aris-mining.com
Slide 16: Aris Mining Mineral Reserves & Resources
Aris Mining Mineral Reserves & Resources Property Proven Probable Proven & Probable Tonnes Gold grade Contained Tonnes (kt) Gold grade Contained Tonnes (kt) Gold grade Contained (kt) (g/t) gold (koz) (g/t) gold (koz) (g/t) gold (koz) Marmato 2,196 4.31 304 29,082 3.08 2,874 31,277 3.16 3,178 Soto No
Slide 17: Technical Disclosure
Technical Disclosure Unless otherwise indicated, the scientific disclosure and technical information included in this presentation are based upon information included in the following documents and NI 43-101 compliant technical reports: 1. Technical report entitled “Technical Report for the Marmato