Third Quarter 2026 Results

TSX:DPM

TSX: DPM ASX: DPM

Third Quarter 2026 Results

November 13, 2026

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 other companies. The definitions established and calculations performed by the company are based on management's reasonable judgment and are consistently applied. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. This slide presents the most directly comparable measures under IFRS to those Non-GAAP financial measures used in this presentation. For a detailed reconciliation of Non-GAAP financial measures or ratios, please refer to the "Non-GAAP Financial Measures" section on pages 35 to 43 of the Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2026, available on our website at www.dpmmetals.com and on SEDAR+ at www.sedarplus.ca.

Mine cost of sales and

All-in sustaining cost1,5 ($/GEO sold)

Cash provided by operating activities and Free cash flow2 ($M)

Net earnings

and Adjusted net earnings3 ($M)

Q3 2025 Q3 2026

Q3 2025 Q3 2026

Q3 2025 Q3 2026

Mine cost of sales

All-in sustaining cost

Cash provided by operating activities from continuing operations

Free cash flow from continuing operations

Net earnings

Adjusted net earnings

$272

$212

YTD Q3 2025 YTD Q3 2026

YTD Q3 2025 YTD Q3 2026

YTD Q3 2025 YTD Q3 2026

Mine cost of sales

All-in sustaining cost

Cash provided by operating activities from continuing operations

Free cash flow from continuing operations

Net earnings

Adjusted net earnings

1. Refer to footnote #1 on slide 20.

2. Refer to footnote #2 on slide 20.

3. Refer to footnote #3 on slide 20.

5. Refer to footnote #5 on slide 20.

3

4

☑ Operational Delivery

• On track to meet 2026 GEO5 production guidance4 for the 12th consecutive year

• Achieved Vareš commercial production ahead of schedule; ramp-up on track for year-end 2026

  ☑ Advancing Growth Pipeline

• Increased 2026 exploration spending to

  $75 - 80 million, reflecting strong results

• High-grade Wedge Zone prospect

• Major discovery at Brevene Porphyry South

• Advancing Čoka Rakita procurement

• Rakita Camp Tier One gold asset potential

  ☑ Generating Strong Margins

• Q3 all-in sustaining cost1,5 per GEO sold:

  $1,580/oz. (includes $270/oz. mark-to-market adjustment to share-based compensation)

• On track to meet 2026 AISC guidance4

  ☑ Strong Financial Position

• $179 million of free cash flow2

• $144 million of adjusted net earnings3

• $172 million of capital returned to shareholders YTD

• $839 million in cash

• Undrawn $400 million credit facility

  Vareš Ramping up to Full Production in 2026 On track to achieve ramp-up to 850,000 tonne per year run-rate by year-end

  Guidance range

  AISC

  Guidance range

  Production

  2026

  Guidance

  YTD Q3

  2026

  Q3 2026

  2026

  Guidance

  YTD Q3

  2026

  Q3 2026

  44.5

  $717

  $767

  108.7

  $900 - $1,050

  105 - 130

  AISC1,5

  $ per GEO sold

  GEO Produced5

  K

  2026 Guidance4

  2026 a transitional year for Vareš

  • Achieved commercial production in August

  • Second tailings filter expected to commission in November

  • Accelerating gold and silver production

  • Commenced surface drilling program in Q2

  • Strong third quarter performance:

    • Produced 44,456 GEO5 and expected to exceed high-end of production guidance4

    • All-in sustaining cost1,5 of $767 per GEO sold

      Optimization for 2027 and beyond

  • Evaluating opportunities to optimize cost structure following commercial production

• Potential to augment Chelopech life of mine plan and for near-term higher grade mill feed by end of 2028

• Drilling in H1 2026 continues to extend mineralization at grades well in excess of existing Mineral Reserves:

  • EX_WZD_210_01: 68 m at 7.42 g/t AuEq

  • EX_WZD_165_03: 58 m at 15.28 g/t AuEq

  • EX_WZD_165_05A: 81 m at 8.05 g/t AuEq

• Similar dimensions to DPM's Čoka Rakita project: 150m x 100m x 350m

• H2 2026 drilling program seeks to extend and infill

  existing mineralization

• Ramp development commencing in Q4 2026; expect to commence construction of the twin declines in Q1 2027

• Wedge Zone initial Mineral Resource estimate expected by year-end 2026

  Brevene Porphyry South Major discovery of high-grade gold-copper porphyry system adjacent to Chelopech mine

• Results demonstrating grade, scale and continuity

  • EX_BRES_555_02A: 717 m at 3.30 g/t AuEq, including 139 m at 5.71 g/t AuEq

  • EX_BRESPO_03: 1,054 m at 2.49 g/t, including 465 m at

    3.02 g/t AuEq

  • Widths and grades are well above typical porphyry benchmarks

• Mineralization footprint exceeds 500m x 500m and extends over 1,000 m vertically

  • Open to the north, south, west and at depth

• Results confirmed extension onto the Chelopech mine concession, to where drilling will be transitioning to further expand known mineralization

  • Up to 8 high-capacity drill rigs

  • 15,000 metres planned through end of 2026

• Initial Mineral Resource estimate planned for H2 2027 and to support PEA planned for H1 2028

  Čoka Rakita Project: High-Margin Production Growth

  Swift advancement to date underpinned by +20 years of in-country experience

  High-margin underground gold mining operation

  $644/oz. Au sold all-in sustaining cost

  $448M initial capital expenditures

  1.52 million oz Au of Probable Mineral Reserves over a 10-year mine life

  189,000 oz Au annual production first 5 full years

• From discovery in 2023 to feasibility in 2025

• Following October 2026 elections, administrative and regulatory decision making timelines may be extended as new government is formed

  • DPM will work with relevant authorities to align the scheduling of the project's next phase, if required by the process of the government's formation

• Continuing to advance engineering and procurement activities

  • Dismantling and refurbishing of the Ada Tepe mill components

  • Ramp-up of purchases and securing of fabrication timelines for critical equipment

  • Selection of underground contractor

  • Advancing detailed engineering

• Environmental and permitting activities

  • Special Purpose Spatial Planning process in progress

    Project Highlights6

    Dumitru Potok: Large Inferred Mineral Resource Demonstrating Rakita camp's potential for district-scale gold-copper systems

• From discovery to Mineral Resource in 18 months

• Resource expansion as all three deposits remain open in multiple directions

• Significant, new 2026 intercepts from Dumitru Potok:

  • BIDD253: 246 metres grading 1.36% CuEq from 1,377 m

  • DPDD042: 50 metres grading 3.68% CuEq from 761 m

  • RADDGTH009C: 76 metres grading 2.66% CuEq from 623 m

• Higher-grade core at Dumitru Potok within 64Mt mineral resource

  • 2.2 million ounces of gold and 1.5 billion pounds of copper

  • Updated Mineral Resource expected by Q1 2027, supporting a PEA targeting year-end 2027

• Drill program budget increased up to an additional 15,000 metres with 10 drill rigs to expanding MRE, infill drilling and target testing

• Mining completed as planned in July 2026; rehabilitation well underway

• Technical rehabilitation of Integrated Mine Waste Facility (IMWF) targeted for year-end 2026

• On track to complete active site rehabilitation by year-end 2028

• Post-closure monitoring is planned for at least 10 years after closure and final reclamation

Follow the Ada Tepe story, visit https://www.dpmmetals-adatepe.com

September 21, 2016 - September 21, 2026

Source: FactSet. Market data as of September 21, 2026.

Peer index represents an equal-weighted index of OceanaGold, Centerra Gold, IAMGOLD, Eldorado Gold, B2Gold, Alamos Gold, Equinox Gold, and G Mining NAVPS, indexed to DPM net asset value per share on September 21, 2016.

4. Refer to endnote #4 on slide 20.

5. Refer to endnote #5 on slide 20.

6. Refer to endnote #6 on slide 20. Chart reflects a full year of production.

13

1414

203

All-in sustaining cost1,5

$ per GEO sold

All-in sustaining cost

Average realized gold price8

Guidance range

$1,300 - $1,450

Q3 2026

YTD Q3 2026

2026 Guidance 4

Capital expenditures

$ millions

Sustaining

Growth

195 - 210

87.7

25.6

8.1

14.5

25 - 32

Q3 2026

YTD Q3 2026

2026 Guidance 4

Lead

Zinc

Copper

Silver

Gold

66%

15%

12%

2%

5%

2026E Revenue by Metal

Based on the metal price assumptions used for DPM's guidance, and the mid-point of guidance for payable metals in concentrate sold. Refer to endnote #4.

$198 million of shares repurchased year-to-date*

Financial Position

$400M

Total liquidity

$1.2B

$839M

Cash and cash equivalents

Undrawn credit facility

YTD Q3

2026*

2025

2024

2023

2022

2021

2020

$79

$44

$33

$11

$96

$146

$166

$221

$228

$211

$252

$305

$505

$610

Shareholder Returns

$ millions

Free cash flow

Capital returned (dividends paid and payments for shares repurchased)

Hungary

Croatia

Romania

Bosnia and Herzegovina

Serbia

Bulgaria

Türkiye

Italy

Greece

Information Category: Confidential - General

19

1. Cost of sales per GEO sold represents cost of sales for Chelopech, Ada Tepe and Vareš, divided by GEO sold. All-in sustaining cost per GEO sold, is a non-GAAP ratio which represents cost of sales less depreciation, amortization and other non-cash items plus treatment charges, penalties, transportation and other selling costs, cash outlays for sustaining capital expenditures and leases, rehabilitation-related accretion and amortization expenses and an allocated portion of the Company's general and administrative expenses based on mine's proportion of total revenue, divided by GEO sold. Non-GAAP measures have no standardized meaning under IFRS. For all non-GAAP measures discussed in this presentation, refer to the "Non-GAAP Financial Measures" section of the Company's MD&A for the three and nine months ended September 30, 2026 on pages 35 to 43 available on our website at https://www.dpmmetals.com and on SEDAR+ at https://www.sedarplus.ca for additional information, including why they are useful to investors, the additional purposes for which management uses these measures and, in the case of historical measures, a reconciliation with the nearest GAAP measures.

2. Cash provided from operating activities, before changes in working capital, is a non-GAAP financial measure defined as cash provided from operating activities excluding changes in working capital, which includes changes in share-based compensation liabilities, as set out in the Company's consolidated statements of cash flows. This measure is used by the Company and investors to measure the cash flow generated by the Company's operating segments prior to any changes in working capital, which at times can distort performance. Free cash flow is a non-GAAP measure and is defined as cash provided from operating activities, before changes in working capital, less cash outlays for sustaining capital, and any mandatory principal repayments and interest payments related to debt and leases.

3. Adjusted net earnings is a non-GAAP measure and is defined as net earnings attributable to common shareholders, adjusted to exclude specific items that are significant, but not reflective of the underlying operations of the Company, including: impairment charges or reversals thereof; unrealized and realized gains or losses related to investments carried at fair value; significant tax adjustments not related to current period earnings; and non-recurring or unusual income or expenses that are either not related to the Company's operating segments or unlikely to occur on a regular basis.

4. Forecast/guidance information is subject to a number of key assumptions, risks and uncertainties. Details of the Company's guidance and three-year outlook can be found in the MD&A for the three and nine months September 30, 2026, available on the Company's website at https://www.dpmmetals.com and on SEDAR+ at https://www.sedarplus.ca. See "Forward Looking Statements" on slide 2.

5. The Company uses conversion ratios for calculating GEO for its silver, copper, zinc and lead production and sales, which are calculated by multiplying the volumes of metal produced or sold, as applicable, by the respective assumed metal prices, and dividing the resulting figure by assumed gold price. The GEO calculated also includes minor quantities of other metals that are not considered material.

6. See the "NI 43-101 Technical Report Čoka Rakita Project Feasibility Study, Eastern Serbia" dated January 9, 2026, for additional information, which has been posted on the Company's website at https://www.dpmmetals.com and filed on SEDAR+ at https://www.sedarplus.ca.

7. For additional information regarding exploration activities in Serbia, see the technical report entitled "Technical Report - Mineral Resource Estimate for Dumitru Potok, Frasen and Rakita North Prospects, Eastern Serbia" dated January 16, 2026, available on the Company's website at www.dpmmetals.com and SEDAR+ at www.sedarplus.ca.

8. Average realized price is a non-GAAP ratio and represents the average price per unit recognized in the Company's consolidated statements of earnings (loss) prior to any deductions for treatment charges, refining charges, penalties, freight and final settlements to adjust for any differences relative to the provisional invoice.

20