Slides
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Q2 2025 RESULTS August 1, 2025 CONFERENCE CALL Skouries operations team – July 2025
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Forward Looking Statement 1 Definitions and Photos Capitalized terms used in this presentation but not otherwise defined herein have the meanings ascribed thereto in the Manage ment’s Discussion and Analysis dated July 31, 2025 of Eldorado Gold Corporation for the three and six months ended June 30, 2025 (the “MD&A”). Photos shown within the presentation were taken as recently as July 25, 2025. Reporting Currency All amounts are presented in U.S. dollars ("$") unless otherwise stated. Unless otherwise specified, all tabular amounts are expressed in millions of U.S. dollars, except share, per share or per ounce amounts. Due to rounding, numbers presented througho ut may not add precisely to the totals provided. Cautionary Note about Forward-looking Statements and Information Certain of the statements made and information provided in this presentation are forward -looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian s ecurities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budgets”, “continue”, “com mitment”, “confident”, “estimates”, “expects”, “forecasts”, “guidance”, “intends”, “outlook”, “plans”, “potential”, “projecte d”, “prospective”, or “schedule” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “can”, “could”, “likely”, “may”, “might”, “will” or “would” be taken, occur or be achieved. Forward-looking statements or information contained in this presentation include, but are not limited to, statements or informat ion with respect to: maintaining our 2025 guidance (including overall production, production by asset, total cash costs, and AISC); future health and safety focus; our beliefs in the value of maintaining a solid financial position; with respect to the Skouries Project: expected schedule for first production and comm ercial production, areas of construction focus, schedule for completion of the coffer dam and assembly of the primary crusher s hell, and 2025 estimated construction project capital and accelerated operational capital spend; the timing of publishing the results of engineering and geometallurgical studies at Kisladag; future mill expansion and the timing thereof at Olympias; our expected production growth through 2027; e xpectations on production, costs and metal prices; our belief that we will be one of the EU’s largest copper producers; and generally plans and goals, including our proposed exploration, development, construction, permitting, financing and operating potential , plans and priorities and related timelines and schedules. Forward-looking statements or information are by their nature based on a number of assumptions, that management considers reason able. However, such assumptions involve both known and unknown risks, uncertainties and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or achievements may be materially different from those described in the forward -looking statements or information. These include assumptions concerning: timing, cost and results of our construction and development activities, improvements an d exploration; the future price of gold and other commodities; exchange rates; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries ; Mineral Reserves and Mineral Resources; our ability to unlock the potential of our brownfield property portfolio; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiative s; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the use, and impact or effectiveness, of growth capital; the impact of acquisitions, dispositions, s uspensions or delays on our business; intent to purchase shares under the NCIB; the sustaining capital required for various p rojects; and the geopolitical, economic, permitting and legal climate that we operate in. More specifically with respect to the Skouries Project, we have made assumptions regarding our ability and our contractors’ a bility to recruit and retain labour resources within the required timeline; labour productivity, rates, and expected hours; infl ation rates; the scope and timing related to the awarding of key contract packages and approval thereof; the expected scope of project management frameworks; our ability to continue executing our pla ns relating to the Skouries Project on the estimated existing project timeline and consistent with the current planned project s cope (including our anticipated progress regarding the coffer dam and primary crusher); the timeliness of shipping for important or critical items (such as the framing for filter press plates ); our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; our ability to obtain and maintain all required approvals and permits, both overall and in a timely manner; the absence of further previously unidentified archaeological discoveries which would delay construction of various portions of the project; the future price of gold, copper, and other commodities; and t he broader community engagement and social climate in respect of the Skouries Project. Forward-looking statements or information is subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forw ard-looking statements or information. These risks, uncertainties and other factors include, among others: development risks at Skouries and other development projects; risks relating to our operations in foreign jurisdictions; risks related to production and processing; our ability to secure supplies of power and wat er at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables; inflation risk; community relations and social license; environmental matters; geotechnical and hydrogeological conditions or failures; w aste disposal; mineral tenure; permits; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Minera l Reserves and Mineral Resources; regulatory reviews and different standards used to prepare and report Mineral Reserves and Min eral Resources; risks relating to any pandemic, epidemic, endemic, or similar public health threats; regulated substances; acquisitions, including integration risks; dispositions; co -ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off -takers; information and operational technology systems; liquidity and financing risks; indebtedness (including current and future ope rating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulti ng on obligations and changes in credit ratings); total cash costs per ounce and AISC (particularly in relation to the market price of gold and the Company’s profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including relating to the carrying value of our assets and changes in repo rting standards); the global economic environment; labour (including in relation to employee/union relations, the Greek transformation, employee misconduct, key personnel, skilled workforce, expatriates, an d contractors); commodity price risk; default on obligations; current and future operating restrictions; reclamation and long -term obligations; credit ratings; change in reporting standards; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks relating to environ mental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; li tigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; tariffs and other trade barriers, and those risk factors discussed in our most recent Annual Informat ion Form & Form 40-F. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form & Form 40-F filed on SEDAR+ and EDGAR under our Company name, for a fuller understanding of the risks and uncertainties that affect our business and operations. With respect to the Skouries Project, these risks, uncertainties and other factors may cause further delays in the completion of the construction and commissioning at the Skouries Project which in turn may cause delays in the commencement of production, and further increase to the costs of the Skouries Project. The specific risks, certainties and other factors include, among others: our ability, and the ability of our construction contrac tors to recruit the required number of personnel with required skills within the required timelines, and to manage changes to wo rkforce numbers through the construction of the Skouries Project; our ability to recruit personnel having the requisite skills, experience, and ability to work on site; our ability to increase pr oductivity by adding or modifying labour shifts; rising labour costs or costs of key inputs such as materials, power and fuel; r isks related to third-party contractors, including reduced control over aspects of the Company's operations and/or the ability of contractors to perform; the ability of key suppliers to meet key contractual c ommitments in terms of schedules, amount of product delivered, cost, or quality; our ability to construct key infrastructure within the required timelines, including the process plant, filter plant, waste management facilities, and embankments; differences between projected and actual degree of pre -strip required in the open pit; v ariability in metallurgical recoveries and concentrate quality due to factors such as extent and intensity of oxidation or pr esence of transition minerals; presence of additional structural features impacting hydrological and geotechnical considerations; variability in minerals or presence of substances that may h ave an impact on filtered tails performance and resulting bulk density of stockpiles or filtered tails; distribution of sulfides that may dilute concentrate and change the characteristics of tailings; unexpected disruptions to operations due to protests, non -routine regulatory inspections, road conditions, or labour unrest; une xpected inclement weather and climate events, including short and long duration rainfall and floods; our ability to meet pre -commercial producing mining or underground development targets; unexpected results from underground stopes; new archaeological discoveries requiring the completion of a regulatory process; changes in support from local communities; our ability to meet the expectations of communities, governments, and stakeholders re lated to the Skouries Project; and timely receipt of necessary permits and authorizations. The inclusion of forward-looking statements and information is designed to help you understand management’s current views of ou r near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward -looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should n ot place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not exp ect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Compa ny’s reports filed with the securities regulatory authorities in Canada and the United States. Qualified Persons Except as otherwise noted, Simon Hille, FAusIMM, Executive Vice President, Operations and Technical Services, is the Qualified Person under NI 43 -101 responsible for preparing and supervising the preparation of the scientific or technical information contained in this presentation and verifying the t echnical data disclosed in this presentation relating to our reserves, operating mines and development projects. Jessy Thelland, géo (OGQ No. 758), a member in good standing of the Ordre des Géologues du Québec, is the qualified person as defined in NI 43 -101 responsible for, and has verified and approved, the scientific and technical disclosure contained in this presentation for the Lamaque Complex. This presentation contains information that may constitute future-orientated financial information or financial outlook informat ion (collectively, “FOFI”) about Eldorado’s prospective financial performance, financial position or cash flows, all of which is subject to the same assumptions, risk factors, limitations and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, al though considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance sh ould not be placed on FOFI. Eldorado’s actual results, performance and achievements could differ materially from those expressed in, or implied by, FOFI. Eldorado has included FOFI in order to provide readers with a more complete perspective on Eldorado’s future operations and management’s current expectatio ns relating to Eldorado’s future performance. Readers are cautioned that such information may not be appropriate for other purposes. FOFI contained herein was made as of the date of t he Managements Discussion & Analysis for the six months months ended June 30, 2025, which is available on the Company’s website and filed on Sedar+ and EDGAR. Unless required by applicable laws, Eldorado does not undertake any obligation to publicly update or revise any FOFI statements, whether as a result of new information, future events or otherwise.
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Non-IFRS Measures 2 Certain non-IFRS financial measures and ratios are included in this presentation, including total cash costs ($/oz sold), all-in sustaining costs ("AISC") ($/oz sold), adjusted net earnings, adjusted net earnings per share, adjusted EBITDA, cash flow from operating activities before changes in working capital, free cash flow, and free cash flow excluding Skouries. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards (“IFRS”), provide investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information to assist in their evaluation of the Company’s performance and ability to generate cash flow from operating activities and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures, including quantitative reconciliations to the most directly comparable IFRS financial measures, are incorporated by reference herein and can be found in the section ‘Non-IFRS and Other Financial Measures and Ratios’ starting at page 25 in the MD&A that will be available on SEDAR+ at http://www.sedarplus.com, on EDGAR at www.sec.gov, and on the Company’s website under the ‘Investors’ section. The most directly comparable IFRS financial measures and results from the quarter ended June 30, 2025, and year ended December 31, 2024 are below. Non-IFRS Measure Most Directly Comparable IFRS Measure Q2 2025 FY 2024 Total cash costs Production costs $162.2 M $564.2 MAISC Average realized gold price per ounce sold Revenue $451.7 M $1,322.6 M EBITDA Earnings from continuing operations before income tax $172.2 M $435.4 MAdjusted EBITDA Adjusted net earnings/(loss) Net earnings attributable to shareholders of the Company from continuing operations $139.0 M $300.9 MAdjusted net earnings/(loss) per share Cash flow from operating activities before changes in working capital Net cash generated from operating activities of continuing operations $158.2 M $645.7 MFree cash flow Free cash flow excluding Skouries Sustaining capital expenditures Additions to property, plant and equipment $241.0 M $620.3 MGrowth capital expenditures
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Participants and Agenda 3 George Burns President & CEO Louw Smith EVP, Development, Greece Paul Ferneyhough EVP & CFO Simon Hille EVP, Operations and Technical Services SECOND QUARTER 2025 OVERVIEW FINANCIALS OPERATIONS & PROJECTS: SKOURIES & OLYMPIAS OPERATIONS: LAMAQUE COMPLEX, KIŞLADAĞ & EFEMÇUKURU
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Q2 2025 Operations Update 4 Strong operational performance during Q2 2025: maintaining full year production guidance, expect to be at or above the high end of the cost guidance (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q2 2025 2025 Guidance Asset Production (oz) Total Cash Costs(1) ($/oz) AISC(1) ($/oz) Production (K oz) Total Cash Costs(1) ($/oz) AISC(1) ($/oz) Lamaque Complex 50,640 721 1,231 170 – 180 790 – 890 1,290 – 1,390 Kışladağ 46,058 1,133 1,324 160 – 170 1,020 – 1,120 1,200 – 1,300 Efemçukuru 21,093 1,335 1,667 70 – 80 1,300 – 1,400 1,560 – 1,660 Olympias 15,978 1,578 1,967 60 – 70 1,020 – 1,120 1,280 – 1,380 Total 133,769 1,064 1,520 460 – 500 980 – 1,080 1,370 – 1,470 GOLD PRICE DRIVING MARGIN EXPANSION AND STRONG CASH FLOW Generated ~$61.5 million of free cash flow (1) from operations, excluding Skouries investment spend First open pit oxide ore mining at Skouries – July 2025
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Q2 2025 Highlights HEALTH & SAFETY • LTIFR(1) of 0.95 in Q2 2025, increased from 0.40 in Q2 2024 Focus on preventing high potential incidents and further empowerment of our employees to promote a positive health and safety culture • Completed global Train the Trainers program as part of the Courageous Safety Leadership initiative launched in November 2024 • In Greece, the team won the Gold Award at the 2025 Health & Safety Awards in recognition of the Comprehensive Health Emergency Management Plan implemented at the Kassandra Mines SUSTAINABILITY • Published 2024 Sustainability Report: Sustainability From the Ground Up • In Québec, the team was recognized with the Environmental Distinction Award at the Québec Mining Association Conference NCIB RENEWAL • Committed to enhancing shareholder returns Since upsizing the NCIB in May 2025, repurchased over 28 million in shares at a cost of $58 million Ability to purchase up to 5% of our issued and outstanding shares as at July 31, 2025, expanded to include NYSE and TSX 5 Strong Focus on Health, Safety & Sustainability CANADA’S BEST COMPANIES IN 2025 BY TIME Based on our strong performance in sustainability transparency, employee satisfaction, and consistent revenue growth over the past three years, Eldorado Gold was recognized as one of Canada’s Best Companies in 2025 by TIME and Statista (1) These figures are unreconciled on a quarterly basis and will be reconciled in year -end disclosures.
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Financial Results: Q2 2025 ($millions unless otherwise noted) Q2 2025 Q2 2024 YTD 2025 Key Metrics Gold produced (oz) 133,769 122,319 249,662 Gold sold (oz) 131,489 121,266 247,752 Revenue 451.7 297.1 807.0 Average realized gold price ($/oz sold)(1) 3,270 2,336 3,112 Production costs 162.2 127.8 310.5 Total cash costs ($/oz sold)(1) 1,064 940 1,106 AISC ($/oz sold)(1) 1,520 1,331 1,538 Adjusted net earnings(1,2,3) 90.1 66.6 146.5 Adjusted net earnings per share(1,2,3) 0.44 0.33 0.72 Net earnings attributable to shareholders from continuing operations 139.0 56.4 211.0 Adjusted EBITDA(1,3) 211.8 151.6 374.8 Cash Flow Metrics Cash flow from operating activities before changes in working capital(1,3) 202.0 132.2 338.5 Free cash flow(1,3) (61.6) (32.0) (91.0) Free cash flow excluding Skouries(1,3) 61.5 33.9 129.4 Cash and cash equivalents 1,078.6 595.1 1,078.6 6 Kışladağ(1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) Attributable to shareholders of the Company. (3) From continuing operations. 400 500 600 700 800 900 1,000 1,100 1,200 0 20 40 60 80 100 120 140 160 180 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $/oz Au koz Gold Production Gold Production (koz) Total Cash Cost per Ounce (1)
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Strong Financial Position 7 Focus on maintaining solid financial position providing flexibility to unlock value across our business (1) As per the Q2 2025 financial statements. (2) Eldorado’s equity commitment for the Skouries project is back-stopped by a letter of credit issued, which reduces the availability under the Senior Secured Credit Facility. On June 27, 2024, Eldorado entered into $350 million amended and restated senior secured credit facility with an option to increase the available credit by $100 million through an accordion feature and a maturity date of June 27, 2028. (3) Interest paid semi-annually on March 1 and September 1. Liquidity Position(1,2) (as of June 30, 2025) TOTAL LIQUIDITY: $1.13 billion Cash and cash equivalents + availability on senior secured credit facility CASH & CASH EQUIVALENTS(1): $1.08 billion SENIOR NOTES: Debt maturity September 2029 $500 million senior unsecured notes with a coupon rate of 6.25%(3) CREDIT FACILITY: $350 million ARCA(2), plus $100 million accordion feature Current availability is $49 million 1,079 49 Cash Credit Facility $1.13 B
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Skouries: Recent Achievements 8 Process plant – SAG mill feed conveyor Skouries progressing to plan: First production expected in Q1 2026 and commercial production in mid-2026 Q2 2025 HIGHLIGHTS • Phase 2: 70% complete Mobilization of site personnel ramped up: ~1,730 personnel on site including 186 permanent Skouries operations personnel Construction advancing including assembly of the conveyors, haul roads, water management ponds, low-grade stockpile, primary crusher, process facilities, filtered tailings plant and the IEWMF Filtered tailings plant: • Structural steel installation is approximately 75%(1) complete and mechanical work progressed with the installation of the six feeder conveyors and the collector conveyor completed in June • The compressor building foundations are complete and steel erection and mechanical installations are in progress • The filter plant tank farm construction has progressed with foundations complete and all five tanks underway, with two at the final height Process plant: Piping and cable installations continued and mechanical installations are proceeding in the support infrastructure areas Underground: access development rates accelerated to over 200m/month. First test stope blasthole drilling commenced and progressed to 19% complete Skouries operations team – July 2025 Tank farm at filtered tailings plant (1) As of July 31, 2025
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Skouries: Positioned to Deliver Q2 2025 HIGHLIGHTS (CONT’D) • Q2 2025 project capital: $117 million • Q2 2025 accelerated operational capital: $27 million 9 Process control building Construction project capital invested since restart of construction to June 30, 2025: $705.7 million 2025: $400 to $450 million capital expected, in addition to $80 to $100 million in accelerated operational capital Process plant overview Conveyors from the pebble crusher building to the transfer tower Foundation underway at the reagent (guar) plant Lime plant building construction, with the compressors building in the background
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Skouries: Thickeners 10 Concrete works and mechanical installations for two (of three) thickeners are complete Concrete works and mechanical installations for two thickeners are complete. Work is advancing on the associated infrastructure with the pumphouse building structural and mechanical rough set complete, substation construction nearing completion, and pipe rack construction advancing. Water testing of the water storage tank and the clarifier and has been completed at the tailing's thickener circuit.
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Skouries: Filtered Tailings Building 11 Filtered tailings building: Structural steel installation is 75%(1) complete Assembly of the first (of six) filter presses Filtered tailings plant facility overview, with tank farm progressing on the right and the foundation of the compressor building on the left To view a time lapse of the installation, please visit: https://youtu.be/tQf9B0JZSAk (1) As of July 31, 2025
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Skouries: Crusher Building 12 Primary Crusher: concrete work advanced to the 2nd of three elevations; apron feeder and associated chutes installed; bottom shell of primary crusher pre-assembled, expected to be installed in August Primary crusher overview Close up of primary cursher Primary Crusher installation – completion expected in September
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Olympias 13 Olympias Gold production during the quarter increased by 35% and total cash costs (1) decreased by 34% compared to Q1 2025 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q2 2025 HIGHLIGHTS • Q2 gold production of 15,978 oz at total cash costs(1) of $1,578/oz sold • Production in Q2 2025 benefited from: Sustained improvements in mining productivity that drove higher underground mining rates, resulting in higher throughput in the quarter • Commenced the mill expansion to 650ktpa, expected to be complete in mid 2026 Q2 2025 2025 Guidance Gold Production 15,978 oz 60 – 70 K oz Total cash costs ($/oz sold)(1) 1,578 1,020 – 1,120 AISC ($/oz sold)(1) 1,967 1,280 – 1,380 Growth Capital(1) $5.1 M $45 – $50 M Sustaining Capital(1) $5.8 M $20 – $25 M
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Kışladağ 14 Celebrated the four millionth ounce produced in May; cumulatively five million ounces have been produced in Türkiye (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q2 2025 HIGHLIGHTS • Q2 gold production of 46,058 oz at total cash costs(1) of $1,133/oz sold • Production in Q2 2025 benefited from: Continued leaching of gold ounces stacked during 2024 Higher grades stacked in prior periods Accelerated drawdown of inventory as a result of the optimization efforts put in place in 2024 • Investment focused on closing the HPGR circuit with additional screening and whole ore agglomeration is on track for an update with Q3 2025 results The four-millionth ounce of gold at Kışladağ in Türkiye was produced, cumulatively bringing gold production in Türkiye over five-million ounces. Q2 2025 2025 Guidance Gold Production 46,058 oz 160 – 170 K oz Total cash costs ($/oz sold)(1) 1,133 1,020 – 1,120 AISC ($/oz sold)(1) 1,324 1,200 – 1,300 Growth Capital(1) $22.3 M $115 – $125 M Sustaining Capital(1) $6.5 M $25 – $30 M
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Efemçukuru 15 Efemçukuru Inline quarter – production and cost (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q2 2025 HIGHLIGHTS • Q2 gold production of 21,093 oz at total cash costs(1) of $1,335/oz sold • Gold grade, throughput, and production inline with expectations Q2 2025 2025 Guidance Gold Production 21,093 oz 70 – 80 K oz Total cash costs ($/oz sold)(1) 1,335 1,300 – 1,400 AISC ($/oz sold)(1) 1,667 1,560 – 1,660 Growth Capital(1) $3.5 M $15 – $20 M Sustaining Capital(1) $6.4 M $15 – $20 M
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Lamaque Complex 16 Ormaque Strong Q2 production driven partially by early processing of a portion of the second bulk sample at Ormaque Q2 2025 HIGHLIGHTS • Q2 gold production of 50,640 oz at total cash costs(1) of $721/oz sold • Production in Q2 2025 impacted by: Higher throughput in the quarter driven by early processing of a portion of the second Ormaque bulk sample, slightly offset by lower grade Q2 2025 2025 Guidance Gold Production 50,640 oz 170 – 180 K oz Total cash costs ($/oz sold)(1) 721 790 – 890 AISC ($/oz sold)(1) 1,231 1,290 – 1,390 Growth Capital(1) $16.4 M $70 – $75 M Sustaining Capital(1) $25.4 M $85 – $95 M (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information.
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43% increase in gold production by 2027 from 2023 Robust balance sheet to fully fund our growth initiatives Increasing production, disciplined cost control, strong metal prices reflected in expanded margins On track to become one of the EU’s largest copper producers and an important supplier of the critical metal Eldorado Gold Continuing to Deliver Value Creation Opportunities