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INVESTOR PRESENTATION JANUARY 2026 Skouries, Greece
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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 Management’s Discussion and Analysis dated October 30, 2025 of Eldorado Gold Corporation for the three and nine months ended September 30, 2025 (the “MD&A”). Photos shown within the presentation were taken as recently as January 10, 2026. 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 throughout 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 securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budgets”, “continue”, “commitment”, “confident”, “estimates”, “expects”, “forecasts”, “guidance”, “intends”, “outlook”, “plans”, “potential”, “projected”, “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 information with respect to: our expected production growth through 2027 and percentage gold production growth over the next three years; development projects at Skouries and Perama Hill; ; in relation to the Skouries Project, including timing of first concentrate production and commercial production, expected length of production, economic benefits of the project to Greece, expected mine life and average annual production, expected gold and copper (gold equivalent) production in 2026; overall project capital estimate, expected additional accelerated operational capital, specific construction, commissioning and processing ac tivities and the timeline associated with each, timing to complete the second test stope mining and a planned trial of four larger test stopes in 2026, expected expanded stope widths and the impact of grade control drilling; in relation to Olympias, including expectations with respect to productivity improvements and plans to expand the Olympias mill to 650 ktpa, focused improvement activities, timing of commissioning and ramp-up of the expansion, expected impacts of new concentrate contract terms, expected benefits of the brownfield expansion and expected exploration activities including management’s views thereon; in re lation to Perama Hill, including expectations to continue development and the Company’s beliefs of the benefits of this project, expected timing of EIA approval and contingent timing of construction, expected mine life and annual production, plans to update a feasibility study, management’s belief that mine life could be extended and the prospectivity of the project; the new dividend policy program, including management’s intention to provide a continuing dividend and the expected payment of any future quarterly dividend; any future quarterly dividends, including future declaration and timing of record and payment dates; the Company’s commitment to return capital to shareholders and its plans to invest in long term growth; in relation to Lamaque, including expected exploration upside and resource conversion drilling, future capital investments to access the Ormaque deposit, development of the Ormaque deposit, construction of the North Basin and paste plant; plans relating to exploration, including in Val d’Ore; in relation to Kisladag, including the completion of an engineering and geometallurgical studies and the timing thereof, intent to proceed with whole ore agglomeration, the expected benefits and the timing of activities in relation thereto, timing of a secondary crusher circuit expansion; in relation to Efemcukuru: potential resource conversion at Kokarpinar South and the West Vein area; expected timing of the Company’s guidance release; and generally, our strategy, plans, goals and priorities; expected increases in free cash flow; expected productivity improvements; shareholder returns and debt reduction with the delivery of the Skouries project; a commitment to enhance shareholder returns through the normal course issuer bid; focus on a solid financial position and the benefits therefrom; 2025 guidance (and specifically, on a consolidated basis and as appropriate by material property, , total cash costs and AISC, future growth capital (including Skouries construction project capital and accelerated operational capital) and sustaining capital); the three year production outlook (both for gold and copper) by material property as applicable; life of mine expectations for various operating and development properties; 2025 exploration guidance and planned exploration activitie s by project; Eldorado’s GHG emissions mitigation target, target achievement pathway and climate change strategy; Eldorado’s hedge portfolio; Eldorado’s inclusive diversity commitments, future cash flow opportunities; forward-looking non-IFRS measures and generally our strategy value creation opportunities 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 reasonable. 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, and exploration; relating to Skouries, our ability to continue executing our plans relating to the Skouries Project on the estimated existing project timeline, our ability to ability to retain labour and their productivity, rates, and expected hours, the timeliness of shipping for important or critical items, and our ability to obtain and maintain all required approvals and permits, including timing thereof; relating to Perama Hill, our ability to obtain the necessary approvals, to the future price of gold and other commodities; exchange rates; inflation; anticipated values, costs, expenses, and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; 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; the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the use, impact, or effectiveness of growth capital; the impact of acquisitions, dispositions, suspensions, or delays on our business; the sustaining capital required for various projects; and the geopolitical, economic, permitting, and legal climate that we operate in. In addition, except where otherwise stated, Eldorado has assumed a continuation of existing business operations on substantially the same basis as exists at the time of this presentation. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control. 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 forward-looking statements or information. These risks, uncertainties and other factors include, among others: development risks at Skouries, Perma Hill and other development projects, including relating to Skouries, increased costs, including of labour and key inputs, our ability to retain personnel and productivity of labour, ability of key suppliers to meet commitments; our ability to construct key infrastructure within require timelines, unexpected disruptions to operations and timely receipt of necessary permits and authorizations and relating to Perama Hill, results of further exploration and testing, and our ability to obtain necessary permits and authorizations, risks relating to our operations in foreign jurisdictions; risks related to production and processing; our ability to secure supplies of power and water 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; waste disposal; mineral tenure; permits; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral 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 operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting 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 reporting standards); the global economic environment; labour (including in relation to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates, and 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 environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; litigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; tariffs and other trade barriers. The reader is directed to carefully review the detailed risk discussion in our MD&A and 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. The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our 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 not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect 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 Company’s reports filed with the securities regulatory authorities in Canada and the United States. This presentation contains information that may constitute future-orientated financial information or financial outlook information (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, although considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance should 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 expectations 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 the MD&A, which is available on the Company’s website and filed on Sedar+ and EDGAR. The forward -looking total cash costs, AISC, sustaining capital and growth capital disclosed in this presentation has been calculated with both the methodology disclosed in the MD&A as it relates to the equivalent historical non-IFRS measure (that is, there are no significant differences in methodology between the historic and forward-looking non-IFRS measures). 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 27 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 September 30, 2025, and year ended December 31, 2024 are below. Non-IFRS Measure Most Directly Comparable IFRS Measure Q3 2025 FY 2024 Total cash costs Production costs $164.1 M $564.2 MAISC Average realized gold price per ounce sold Revenue $434.7 M $1,322.6 M EBITDA Earnings from continuing operations before income tax $110.1 M $435.4 MAdjusted EBITDA Adjusted net earnings/(loss) Net earnings attributable to shareholders of the Company from continuing operations $56.5 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 $170.2 M $645.7 MFree cash flow Free cash flow excluding Skouries Sustaining capital expenditures Additions to property, plant and equipment $255.6 M $620.3 MGrowth capital expenditures
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⚫ Lamaque Complex, CANADA (8-year mine life) 2025 Au Production(2) 187,208 oz ⚫ Kışladağ, TÜRKIYE (13-year mine life) 2025 Au Production(2) 168,701 oz ⚫ Production ⚫ Development ⚫ Care & Maintenance HEAD OFFICE Vancouver, Canada European Regional OFFICE Amsterdam, Netherlands Kassandra Mines, GREECE ⚫ Olympias ⚫ Skouries ⚫ Stratoni ⚫ Olympias, GREECE (15-year mine life) 2025 Au Production(2) 59,877 oz ⚫ Efemçukuru, TÜRKIYE (8-year mine life) 2025 Au Production(2) 72,482 oz Diversified Portfolio of Long-Life, High-Quality Assets 3 Diverse Asset Portfolio • Operations in Türkiye, Greece and Canada • 12.5 Moz of P&P gold reserves(3) Production Growth • Annual gold production expected to increase with Skouries production and growth initiatives across the portfolio Pipeline of Strategic Growth Projects • Mineral Reserve(3) increases to 848K oz at Ormaque (Lamaque Complex) • Development projects: Skouries, Perama Hill • Commercial production at Skouries expected in mid-2026 Total Consolidated Production Profile 2025 Au Production(2) 488,268 oz Perama Hill, GREECE (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) Preliminary production as announced on January 20, 2026. (3) Please refer to the appendix for more information with respect to the mineral resources and mineral reserves.
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Strong Investment Rationale Pipeline of Strategic Growth Projects SKOURIES • In full construction, ~140 kozs average annual gold production forecast, with first production expected toward the end of Q1 2026 and commercial production in mid-2026 KIŞLADAĞ • Increase throughput and recovery LAMAQUE COMPLEX • Resource conversion of Ormaque and Lower Triangle • Exploration upside from nearby targets OLYMPIAS • Mill expansion to 650ktpa from 500ktpa 4 Eldorado is driving investor returns by focusing on four key areas Focused on Sustainability • Our internal Sustainability Integrated Management System (SIMS) includes minimum performance standards against external commitments • Utilize filtered tailings technology • Robust management practices and due diligence, including Independent Technical Review Board • Advancing Climate Change Strategy, with measurable progress toward our GHG mitigation target • Award winning ESG performance in mining Attractive Valuation • Advancing high-quality Greek assets creates re-rating potential • 44% gold production growth(1) over next 3 years • Increasing production, disciplined cost control, strong metal prices reflected in expanded margins • Significant Free Cash Flow growth from productivity improvements at operating assets and Skouries delivery • Return of Capital to Shareholders: Normal Course Issuer Bid Dividend Financial Position • Cash and cash equivalents of ~$1.04 billion as of September 30, 2025 • Maintain a strong financial position to preserve flexibility and unlock value across the business. • Strategic leverage to copper production and higher metal prices • Recognized among TSX30 top performers with 238% share appreciation(2) (1) Expected growth in production as announced on February 5, 2025. (2) Based on dividend-adjusted share price performance from June 30, 2022 to June 30, 2025.
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Upcoming Catalysts: Execution and Delivery CORPORATE • Multi-year guidance demonstrates expected 44% growth(1) on gold production over three-year period, based on 2024 production • First concentrate production and ramp-up at Skouries driving a step-change in scale, margins and free cash flow TÜRKIYE • Kışladağ Whole ore agglomeration under-construction to shorten leach cycle and drive value, with installation expected in 2027 Larger secondary crusher to facilitate debottlenecking expected to be installed in Q4 2026 Geo-metallurgical study for characterization of future mining phases and evaluate the benefit of additional screening for the HPGR expected to be completed in H1 2026 • Efemçukuru resource conversion of Kokarpinar South vein system and West Vein area QUÉBEC • Advance development of the Ormaque deposit toward commercial production in late 2026; construction of the North Basin and paste plant • Lower Triangle and Ormaque resource conversion supporting mine life extension and operational flexibility at Lamaque Clear near-term catalysts driving a step-change in growth and value 5 Kışladağ, Türkiye Lamaque Complex, Quebec (1) Expected growth in production as announced on February 5, 2025
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Upcoming Catalysts: Execution and Delivery GREECE • Skouries Advance construction progress at Skouries, first concentrate production expected toward the end of Q1 2026 and commercial production in mid-2026 • Olympias Continued productivity improvements at Olympias that support the plant expansion project to 650 ktpa with progressive commissioning and ramp up expected in H2 2026 • Perama Hill Advance through permitting, community consultations and technical studies EIA approval expected by year-end 2026 PORTFOLIO EXPLORATION • Near-mine and brownfields exploration across Quebec, Türkiye and Greece to support resource conversion and mine life extensions • Select early-stage exploration providing longer-term discovery potential Multiple value-creating catalysts 6 Skouries, Greece Olympias, Greece
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0 200 400 600 800 2025E 2026E 2027E Gold (Koz) Kışladağ Lamaque Efemçukuru Olympias Skouries: Gold 2025 Guidance and 3-Year Growth Profile 2025 7 3-YEAR PRODUCTION OUTLOOK(3): GOLD INCREASING ~44% FROM 2025 TO 2027 COPPER PRODUCTION STARTING IN 2026 Growing production with significant upside from Skouries Au & Cu production (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) At existing operations. (3) Expected production shown at mid-point of guidance range, announced on February 5, 2025, (4) On Oct. 30, 2025, the Company announced updated 2025 consolidated guidance ranges to reflect updated full -year expectations given the operational and financial performance year to date. Site level ranges should not be relied upon. GOLD PRODUCTION(4): 470,000 – 490,000 oz TOTAL CASH COSTS(1,4): $1,175 - $1,250 per oz sold ALL-IN SUSTAINING COSTS(1,4): $1,600 - $1,675 per oz sold GROWTH CAPITAL(1): Operations(2): $245 - $270 M Skouries Construction Project Capital(4): $440 - $470 M Skouries Accelerated Operational Capital: $80 - $100 M SUSTAINING CAPITAL(1,2): $145 - $170 M 53 70 0 20 40 60 80 2026E 2027E Copper (M lbs) Skouries: Copper 470-490 605-665 660-720 ~44% Growth (4)
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Attractive Valuation 8 Advancing high-quality Greek assets creates re-rating potential Source: FactSet; data as of January 20, 2026 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Consensus P/NAV Consensus EV/2026E EBITDA(1) . Source: FactSet; data as of January 20, 2026
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Strong Financial Position 9 Focus on maintaining solid financial position providing flexibility to unlock value across our business (1) As per the Q3 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 September 30, 2025) TOTAL LIQUIDITY: $1.09 billion Cash and cash equivalents + availability on senior secured credit facility CASH & CASH EQUIVALENTS(1): $1.04 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 $48 million $1.04B $0.05B Cash Credit Facility $1.09 B
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Skouries 10 High-grade gold-copper porphyry deposit that is a key driver of Eldorado’s growth story (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information; (2) Data here and elsewhere in this presentation is from the Skouries Technical Report dated January 22, 2022; (does not include recent capital revision to $1.06B dated February 5, 2025); (3) After tax, based on $1,500/oz Au, $3.85/lb Cu; (4) After tax, based on $1,800/oz Au, $3.80/lb Cu; (6) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. OVERVIEW Location Halkidiki Peninsula, Greece Deposit type Gold-copper porphyry Ownership 100% Eldorado Mining/Processing Open pit & underground / flotation & gravity Life of Mine 20 years based on Mineral Reserves Products produced Copper/gold concentrate Production target Toward the end of Q1 2026 with commercial production in mid 2026 Contained metal in Proven & Probable Reserves(5) 3.7 Moz Au (0.77 g/t), 741 kt Cu (0.50%) Contained metal in Measured & Indicated Resources(5) 4.6 Moz Au (0.69 g/t), 989 kt Cu (0.48%) LIFE OF MINE (LOM) PROJECT ECONOMICS(2) At $1,500 Au & $3.85 Cu(3) At $1,800 Au & $3.80 Cu(4) Annual gold production 140,000 oz Annual gold equivalent production 312,000 oz AISC(1) $(6)/oz $65/oz NPV-5%(4) $1.3 B $1.6 B Project IRR(4) 19% 22% Europe ADVANCING SKOURIES • €680 M financing package (including additional cost overrun facility) secured for the development of Skouries fully drawn • C$81.5 M strategic investment by EBRD • First production expected toward the end of Q1 2026 with commercial production in mid-2026
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Skouries: Recent Achievements 11 Skouries progressing to plan: First production expected toward the end of Q1 2026 and commercial production in mid -2026 Q4 2025 HIGHLIGHTS • 90% including Phase 1; 78% complete for Phase 2 Accelerated Operations & Readiness • Mobilization of site personnel ramped up: ~2,350 personnel on site including ~400 permanent Skouries operations personnel • Open pit mining: • 4 crews operational, ahead of plan in building ore stockpiles for start-up. • Underground: • First test stope blast successfully executed and completely mined out with ore fragmentation exceeding expectations. • Stope drilling and mucking successfully operated from surface to support low-cost mining. • Stockpiles on surface: 1.2M tonnes containing 47.3koz of gold and 12.6Mlbs of copper. Commissioning • Pre-commissioning of the concentrate filters presses completed along with water testing in the flotation cells and tanks. • Pre-commissioning of the pebble crusher completed, and the area has been energized; hot commissioning of the conveying and process control systems has been completed. Open Pit Mining 1ST UNDERGROUND BLAST COMPLETE B1
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Skouries: Positioned to Deliver Q4 2025 HIGHLIGHTS (CONT’D) • Q4 2025 project capital(1): ~$137 M (Full year 2025: ~$475 M) • Q4 2025 accelerated operational capital(1): ~$35 M (Full year 2025: ~$86 M) 12 Construction project capital invested since restart of construction to December 31, 2025(1): ~$980 million Process plant overview Panoramic view from transfer tower (1) These are preliminary in nature
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13 Skouries Progress: Dec 2025 / Jan 2026
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Skouries: Crusher Building 14 Primary crusher concrete and primary crusher assembly is complete, cable tray and internal structural steel stairways progressing. Conveyors from primary crusher through the coarse ore stockpile and to the process plant complete. Primary crusher overview Apron feeder
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Skouries: Coarse Ore Stockpile 15 Stockpile dome foundation completed, and assembly of the dome structure progressing. Two of the three reclaim feeders and associated chute work have been installed, with pre-assembly underway on the remaining reclaim feeder. SAG feed conveyor and coarse ore stockpile dome Reclaim feeder and discharge chute
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Process Plant 16 Work remains focused on mechanical installations, piping, cable tray and cabling in preparation for first ore. Electrical installations in the process plant substation are advancing, and the control building structure is complete with electrical work underway across all areas. Aerial – process plant SAG and Ball Mill First Floor Electrical Room
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Process Plant – West Side Infrastructure 17 Work continues on the support infrastructure with the process plant substation electrical installations underway. The control building structure is complete and electrical installation work is underway in all electrical areas. Sulphidizer and control room Substation transformer bays E-house
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Process Plant – East Side Infrastructure 18 Concrete works completed for the east side infrastructure. Pre-commissioning of the pebble crusher complete. Pebble crusher building Pebble Crusher
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Skouries: Thickeners 19 Two of the three tailings thickeners, clarifier and process water tank are mechanically complete. Water testing has been completed, and piping installations have progressed as the pipe rack installations are completed. Thickeners overview Tailing thickener pipe rack
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Skouries: Filtered Tailings Plant 20 Filtered tailings building: Structural steel installation substantially complete. Mechanical completion for all six filter presses achieved. The electrical distribution room has been installed and cable tray and electrical installation advancing. Filtered tailings plant overview, with tank farm progressing on the left and the compressor building on the right To view a time lapse of the installation, please visit: https://www.youtube.com/watch?v=0pMl17xABOY Tailings filter e-house
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Skouries: Fully Funded with Strategic Project Financing Partners 21 Aerial view of the process plant at Skouries. Maximizing shareholder value with well-aligned strategic partnerships Key Features of Term Facility • Non-recourse to Eldorado; secured by Hellas Gold • Blended interest rate of approximately 5%(1) • 10-year term: 3 years availability; 7 years repayment • Financing includes additional cost overrun facility (1) The estimated blended interest rate is approximately 5% based on current 6-months EURIBOR, plus a fixed margin. Term Facility Components (Debt) Greek Banks National Bank of Greece, Piraeus Bank & CrediaBank €480 M Recovery and Resilience Facility (RRF) loan provided by the EU via the Greek State €200 M Total Project Financing Facility €680 M Strategic Investment by EBRD (Equity) European Bank for Reconstruction & Development (“EBRD”) C$81.5 M PROJECT IS FULLY FUNDED
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Skouries: Land Reclamation in Parallel with Mining Activity 22 End of phase 1 (open pit mining) Bringing the mine progressively back to as close to its original condition as early as possible Fully reclaimed. Partially reclaimed – following phase 1 of open pit mining. Tailings used as paste back-fill TAILINGS MANAGEMENT SUPPORTS PROGRESSIVE RECLAMATION • Tailings are a by-product of the extraction process • At Skouries – we are utilizing filtered tailings which is safer and more environmentally friendly than conventional tailings storage Best available technique • Filtered tailings process reduces moisture content to less than 12%, therefore requires less storage footprint • Filtered tailings will be partially utilized as paste backfill to fill voids of both the open pit and underground mine at the end of life. This allows the above ground tailings storage footprint to be reduced Reduces our environmental impact • Allows for progressive reclamation
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Lamaque Complex 23 Underground gold mine located in Val-d’Or, Québec. The Triangle and Ormaque deposits feed the current mine life. OVERVIEW Location Québec, Canada Ownership 100% Mine type Underground Metals mined Gold Processing method Milling circuit followed by a leach and CIP circuit Deposit type Orogenic gold veins Life of mine 8 years based on Mineral Reserves (through to 2033) 2025 Production(1) 187,208 ozs RESERVES AND RESOURCES(2) Tonnes (x1000) Grade (g/t Au) Contained Ounces (x1000 Au) Triangle, Plug #4 4,072 5.68 743 Ormaque, Parallel 2,801 9.41 848 P&P Reserves – Lamaque Complex 6,873 7.20 1,591 M&I Resources – Triangle, Plug #4 7,084 6.69 1,524 M&I Resources – Ormaque, Parallel 3,706 9.68 1,153 M&I Resources – Lamaque Complex 10,790 7.72 2,677 Inferred Resources – Lamaque Complex 8,087 7.69 2,000 EXPLORATION UPSIDE • Ormaque and Triangle deposits remain open at depth • Large resource base and exploration upside from nearby targets • Strategic land positions in highly-prospective jurisdiction (1) Preliminary production as announced on January 20, 2026. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. (3) Includes ounces from Ormaque bulk sample.
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Lamaque Complex: Recent Achievements 24 Solid Q3 production supported in part by processing of the remaining portion of the second bulk sample at Ormaque Q3 2025 HIGHLIGHTS • Q3 gold production of 46,823 oz at total cash costs (1) of $767/oz sold • Production in Q3 2025 positively impacted by: Higher throughput in the quarter driven by processing the remaining portion of the second Ormaque bulk sample Higher grade ore from Ormaque blended with ore from Triangle • Hosted ~30 Quebec Members of the Canadian Federal Parliament in August, including the Honourable François-Philippe Champagne, Minister of Finance and National Revenue Q3 2025 Q3 2024 Gold Production (oz) 46,823 43,106 Total cash costs ($/oz sold)(1) 767 728 AISC ($/oz sold)(1) 1,199 1,189 Sustaining Capital(1) $19.2 M $20.0 M Growth Capital(1) $18.5 M $6.4 M (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Members of the Canadian Federal Parliament
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Lamaque Complex: Advancing Ormaque 25 Second bulk sample completed: processed by blending with Triangle ore in Q3 2025 Maintenance bayOrmaque vein
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Europe Kışladağ 26 Kışladağ is a low-grade, bulk-tonnage, open pit operation that uses heap leaching for gold recovery (1) Preliminary production as announced on January 20, 2026. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. OVERVIEW Location Uşak Province, Türkiye Ownership 100% Mine type Open pit, heap leach Metals mined Gold Deposit type Gold porphyry Processing method Heap leach Life of mine 13 years based on Mineral Reserves (through to 2038) 2025 Production(1) 168,701 ozs produced ENHANCING EFFICIENCIES • Decision made to proceed with whole ore agglomeration with an Investment of ~$35M Expected to enhance permeability, improve kinetics and shorten the leach cycle Installation of agglomeration drums expected in 2027, with long-lead items expected to be ordered in Q4 2025 • Secondary crusher circuit expansion Facilitate operational debottlenecking and reduce wear on the HPGR moving forward New crusher ordered, and expected to be delivered and installed in Q4 2026 • Geomet study for characterization of future mining phases on track Expected to support evaluation for additional screening for the HPGR Expected completion H1 2026 RESERVES AND RESOURCES(2) Tonnes (x1000) Grade (g/t Au) Contained Ounces (x1000 Au) P&P Reserves 194,444 0.63 3,946 M&I Resources 276,784 0.60 5,359 Inferred Resources 6,594 0.43 91
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Kışladağ: Recent Achievements 27 Increasing capacity and enhancing leach kinetics: Whole ore agglomeration project moving forward, in addition to added crushing capacity with the addition of a new crusher (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q3 2025 HIGHLIGHTS • Q3 gold production of 37,184 oz at total cash costs(1) of $1,309/oz sold • Production in Q3 2025 impacted by: Lower tonnes placed and grade stacked during prior periods in 2025 Placement of ore on a test pad to support the whole ore agglomeration study • Investment going ahead for whole ore agglomeration (~$35 M) • Geomet study for characterization of future mining phases which will support the evaluation for additional screening for the HPGR expected to be completed in H1 2026 Whole ore agglomeration test pad Q3 2025 Q3 2024 Gold Production (oz) 37,184 41,084 Total cash costs ($/oz sold)(1) 1,309 899 AISC ($/oz sold)(1) 1,545 1,028 Sustaining Capital(1) $7.3 M $3.7 M Growth Capital(1) $27.1 M $27.4 M
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Kışladağ: Improving irrigation engineering 28 Sub-cell collection system Deep ripping system
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Kışladağ: Completed North-ADR Plant 29 North-ADR plant First gold pour in late October 2024 Top: Aerial view of North-ADR plant and infrastructure; Bottom: Interior of North-ADR plant
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Efemçukuru 30 High-grade underground operation located in Izmir Province in western Türkiye (1) Preliminary production as announced on January 20, 2026. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. OVERVIEW Location İzmir Province, Türkiye Ownership 100% Mine type Underground Metals mined Gold Deposit type Epithermal gold Processing method Flotation circuit to produce gold concentrate Life of mine 8 years based on Mineral Reserves (through to 2033) 2025 Production(1) 72,482 ozs produced MAINTAIN CONSISTENT PRODUCTION • Efemçukuru focused on continuous improvement • Efemçukuru met annual production guidance for 10th consecutive year, since 2014 Europe RESERVES AND RESOURCES(2) Tonnes (x1000) Grade (g/t Au) Contained Ounces (x1000 Au) P&P Reserves 4,290 4.57 630 M&I Resources 5,154 6.48 1,074 Inferred Resources 1,419 3.90 178
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Efemçukuru 31 Efemçukuru Inline quarter – production and cost (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q3 2025 HIGHLIGHTS • Q3 gold production of 17,586 oz at total cash costs (1) of $1,522/oz sold • Gold grade, throughput, and production inline with expectations Q3 2025 Q3 2024 Gold Production (oz) 17,586 19,794 Total cash costs ($/oz sold)(1) 1,522 1,325 AISC ($/oz sold)(1) 1,791 1,578 Sustaining Capital(1) $4.9 M $4.7 M Growth Capital(1) $3.2 M $1.2 M
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Olympias 32 Carbonate replacement style deposit with high gold grades and an orebody that will allow for increased mining rates (1) Preliminary production as announced on January 20, 2026. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. OVERVIEW Location Halkidiki Peninsula, Greece Ownership 100% Mine type Underground Metals mined Gold, Silver, Lead, Zinc Processing method Milling circuit followed by flotation Commercial production 2017 Life of mine 16 years based on Mineral Reserves (through to 2041) 2025 Production(1) 59,877 ozs produced at FOCUS ON GROWTH • Continue to deliver Olympias productivity improvements and expand processing plant capacity from 500 ktpa to 650 ktpa by 2027 • Modernizing and optimizing plant operations to enhance efficiency and reliability Europe RESERVES AND RESOURCES(2) Tonnes (x1000) Grade (g/t Au) Contained Ounces (x1000 Au) Grade (g/t Ag) Contained Ounces (x1000 Ag) P&P Reserves 9,191 6.02 1,780 116 34,356 M&I Resources 10,624 7.84 2,677 146 49,728 Inferred Resources 2,693 8.25 714 143 12,355
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Olympias 33 Thickener discharge cone Transformation continues: committed to drive sustainable improvement and long-term success (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. Q3 2025 HIGHLIGHTS • Q3 gold production of 13,597 oz at total cash costs (1) of $1,869/oz sold • Production in Q3 2025 was impacted by: Tonnes milled and gold grades, coupled with continued challenges in the flotation circuit • Focused on improvement: A comprehensive program focused on modernizing and optimizing the process plant and surrounding infrastructure Leadership and skills development program aimed at strengthening capabilities across all levels of the organization • The mill expansion to 650ktpa (from 500ktpa currently) continued to progress with progressive commissioning & ramp-up expected in H2 2026 Q3 2025 Q3 2024 Gold Production (oz) 13,597 21,211 Total cash costs ($/oz sold)(1) 1,869 1,210 AISC ($/oz sold)(1) 2,421 1,513 Sustaining Capital(1) $6.9 M $4.9 M Growth Capital(1) $9.0 M $4.1 M Verti-mill top section Flotation cells feed box
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Environmental Rehabilitation at Olympias 34 Eldorado restored over 32 acres of an area that was used by a previous operator to improperly dispose of tailings containing arsenopyrite. Before restoration work (2012) After restoration work (2021) RESTORATION OF OLD OLYMPIAS ARSENOPYRITE CONCENTRATE STORAGE AREA • The remediation and restoration works of this area were initiated by Hellas Gold as a priority immediately after acquiring the Kassandra Mines property • On the restored surface, a nursery facility was set up to cover the need for local flora species for all Hellas Gold’s rehabilitation projects, supporting local stakeholders and creating new jobs • The compromised material, containing the arsenopyrite, was transported to Eldorado’s newly built filtered tailings facility, Kokkinolakkas • The effectiveness of the restoration project is confirmed by the results of ground water monitoring program carried out in the area through a network of piezometers installed inside and downstream of the project Kokkinolakkas filtered tailings facility supports both active operations and rehabilitating the area, as it is used to safely stack not only tailings generated during contemporary production at the Olympias mine, after excess water is removed, but also historical deposits from previous mining activities (1969-1995), which have existed in the area for decades. Kokkinolakkas filtered tailings facility
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Perama Hill 35 Low-cost epithermal gold-silver project with transformative growth potential (1) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. (2) Data here and elsewhere in this presentation is from the Perama Hill Technical Report dated January 2010. OVERVIEW Location Thrace, Greece Ownership 100% Mine type Open pit Metals mined Gold, Silver Deposit type Epithermal gold-silver Life of mine 8 years based on Mineral Reserves Grades(2) High grade (3.0 g/t), open pit strip ratio of ~0.3 Expected production(2) Approximately 100,000 oz Au per year SUPPORTS THE GROWTH PIPELINE • Next mine expected to be developed after Skouries • Exploration potential in the Thrace region supports opportunities for growth • Excluded from Hellas Gold Greek bank financing and not guaranteed under Senior Notes Europe RESERVES AND RESOURCES(1) Tonnes (x1000) Grade (g/t Au) Contained Ounces (x1000 Au) Grade (g/t Ag) Contained Ounces (x1000 Ag) P&P Reserves 8,910 3.18 912 4.48 1,283 M&I Resources (Oxide) 9,175 3.08 908 4.4 1,302 Inferred Resources Oxide 3,959 3.08 392 10 1,297 Sulfide 13,002 2.45 1,025 12 4,851
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Perama Hill Critical path and progress • Community engagement well underway to ensure transparent dialogue and incorporate stakeholder feedback. Two consultation processes are expected to commence in the coming months: One led by the Greek State One led by Eldorado • Project optimization and studies are ongoing to prepare permitting documentation • EIA submitted and approval expected by year-end 2026 Future developments • EIA Approval & Presidential Decree (PD) issued • Submission of full Social & Environmental Impact Assessment (SEIA) • Approval SEIA & Technical Study • Installation & Building Permits issuance (Construction start) 36 Perama Hill looking west
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37 Exploration
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Quebec, Canada 38 Discovery of High-Grade Extensions at Ormaque and Lamaque South; Major Increase in 2026 Exploration Budget to Test New Targets in Lamaque Complex and Bourlamaque Map showing the Lamaque / Bourlamaque mineral exploration license area and locations of projects. • New high-grade zones at Ormaque and Lamaque South, close to existing infrastructure offers potential mine expansion flexibility • New Bourlamaque targets include extensions to historic mines and expansion opportunities of new resources • Multiple targets near the Sigma Mill support throughput expansion studies from 2,500 tpd to 5,000 tpd 2026 Exploration Program: ~80,000 to 90,000 m planned LAMAQUE COMPLEX TARGETS • ~18,000 m to test lateral and depth extensions of Ormaque • ~30,000 m of expansion drilling at Lamaque South and nearby opportunities • ~4,000 to 6,000 m of underground exploration drilling to test targets more readily accessible from the Sigma – Triangle decline BOURLAMAQUE TARGETS • ~32,000 to 34,000 m planned following geological reinterpretation and remodelling work, including: Bonnefond: drill testing extensions to new resource to assess UG development potential Bevcon and Aurbel: drilling will test newly modelled extensions as well as adjacent new targets
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Ormaque 39 New High-Grade Extensions Identified at Ormaque Cross section through the Ormaque deposit showing the newly discovered Ormaque SE and Garnet Zones, >10 g*m(3) intercepts outside the Ormaque resource, and highlighted drillhole intercepts. • Two new Ormaque extensions identified: Ormaque SE and Ormaque West, characterized by flat-lying veins: 13.5 m at 13.59 g/t and 4.1 m at 15.65 g/t Au (LS-25- 135A) 1.0 m at 338.66 g/t Au (LS-24- 116) 1.2 m at 81.98 g/t Au (LQ-25-026) • New steeply dipping Garnet Zone discovered on the northern flank of Ormaque: 5.0 m at 7.31 g/t Au (LS-24-121A) 1.7 m at 10.05 g/t Au (LS-25-131) • All zones lie close to existing mine and processing infrastructure, offering potential sources of future mill feed Long section) through the Ormaque deposit showing >10 g*m intercepts outside the Ormaque resource and highlighted drillhole intercepts. Flat-lying vein intercepts extend 200 to 300 metres west beyond the Ormaque resource.
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Lamaque South 40 Discovery of High-Grade Veins at Lamaque South, Extensions of Historic Lamaque Mine Cross section through the Lamaque South target area and historic Lamaque and Sigma Mines. The figure shows drill holes with >10 g*m intercepts and highlighted drillhole intercepts. • Drilling at Lamaque South targeted the southern extensions of veins mined historically at Lamaque Mine 3.6 m at 9.13 g/t Au, Vein 39 in drillhole LQ-25-025 4.2 m at 8.02 g/t Au, Vein 39 in drillhole LQ-24-013A 2.0 m at 14.78 g/t Au, Vein 13 in drillhole LQ-24-002 1.7 m at 34.77 g/t Au (25.41 g/t Au capped), Vein 13 in drillhole PV-23-063A • These intersections occur in the West Plug and the newly discovered South Plug
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Kassandra Mines District, Greece 41 High-Grade Extensions at Olympias and Newly Identified Gold-Copper System at Stratoni Skarn: Over 30,000 m Planned Follow-up Drilling Map showing the Kassandra mining district licence area and locations of projects in the Kassandra Mines District. 2026 Exploration Program: ~ 33,000 m planned STRATONI SKARN • ~ 15,000 m drilling planned to test wider skarn and potential intrusive center as well as continuity of higher-grade gold-copper zones • Geometallurgical sampling will be conducted in parallel to support resource understanding. OLYMPIAS TARGETS • ~8,000 m expansion drilling from surface • ~10,000 m expansion drilling underground • Drilling planned to test NW Zone and other extensions beyond existing resource • Exploration in Greece advanced significantly in 2025: 17,500 m drilled at Olympias including discovery of new Olympias NW Zone within 200 m of existing mine infrastructure Identification of a new gold-copper target at Stratoni Skarn through 10,500 m of drilling along the Stratoni Fault corridor
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Olympias Exploration 42 NW Zone Discovered Through Integrated Structural, Lithological and Geophysical Interpretation; Exceptional Grades in West Flats Area Step-Out Drilling Above: Map of the Olympias deposit showing 2025 exploration drilling and highlighted drillhole intercepts Left: Map showing the newly discovered Olympias NW zone that coincides with northeast-trending faults and a large northwest-trending high chargeability geophysical anomaly. • Drilling highlights from the Olympias NW Zone include: 7.55 m at 18.93 g/t Au, 123.15 g/t Ag, 3.17% Pb and 0.43% Zn (OLS-20) 7.70 m at 10.33 g/t Au, 81.09 g/t Ag, 1.30% Pb and 2.94% Zn (OLS-23) • Underground expansion drilling in the West Flats area has intercepted thick massive sulfides beyond the existing resource. Highlights include: 23.4 m at 22.3 g/t Au, 331.19 g/t Ag, 11.74% Pb and 9.70% Zn, a step out of approximately 50 m (OL-1131) 9.75 m at 45.25 g/t Au, 270.04 g/t Ag, 10.30% Pb and 9.74% Zn (OL-1134)
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Stratoni Skarn 43 Newly Identified, Emerging Gold-Copper System Map of the Stratoni Skarn Au-Cu deposit and highlighted drill hole intercepts. • Located east of the historic Madem Lakkos mine within a large skarn alteration zone ~1.5 km long, 0.5 km wide, and up to 50 m thick. • Historic drilling (1950–1980s) confirmed extensive skarn mineralization in a region traditionally dominated by carbonate-replacement deposits. • Highlights from the 2025 drilling program include: 42.75 m at 0.83 g/t Au and 0.49% Cu (STSK003) 10.0 m at 0.46 g/t Au and 1.66% Cu (STSK004) 9.1 m at 1.77 g/t Au and 0.46% Cu (VTH003) 12.6 m at 3.75 g/t Au and 0.1% Cu (VTH006) 17.0 m at 0.68 g/t Au and 1.16% Cu (VTH009) 9.0 m at 0.97 g/t Au and 0.55% Cu (VTH011) 40.0 m at 1.05 g/t Au and 0.23% Cu (VTH014)
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Turkiye: Advancing Early-Stage Exploration 44 Strengthening portfolio through strategic licence acquisition, target generation, and expanded drilling programs. 2026 Exploration Program: EARLY-STAGE TARGETS • Early-stage mapping with geochemical and geophysical surveys to generate new targets • 20,000–25,000 m of additional drilling. EFEMCUKURU TARGETS • 15,500 m of drilling planned to test newly identified veins outside current resource areas and their depth extensions. • Continued exploration focus in Turkiye, leveraging strong geological potential and supportive operating environments. • Early-stage portfolio refreshed through licence acquisitions and open-ground staking across Central Anatolia and northeast Turkiye. • 2025 drilling totalled 39,193 m across multiple volcanic-hosted massive sulfide, porphyry, epithermal, and orogenic gold targets.
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Investing in Our Future: Strengthening Exploration for Long-Term Value 45 Building a high-quality discovery pipeline through enhanced geoscience, technology, and increased exploration investment • 2026 exploration budget increasing to $75–85M, supporting: 95,000–110,000 m of resource-conversion drilling 190,000–200,000 m of drilling targeting resource expansion and new discoveries • Investment reflects confidence in organic growth, resource expansion, and ongoing value generation around core gold and base-metal operations. • Stronger exploration team and refreshed approach integrating foundational geology, advanced geoscience practices, and modern technologies. • Continued focus on generating high-quality discovery opportunities to drive both short- and long-term value creation. • Strong exploration results in Canada and Greece has reinforced confidence in discovery strategy and increased 2026 exploration investment
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Climate Change Strategy – Our GHG Emissions Mitigation Target Our GHG Emissions Mitigation Target Achievement Pathway • Leverages Eldorado’s low emissions on a gold production basis, including: Lamaque Complex sourcing electricity that is 99.9% renewable(2) Evaluating renewable energy sources in Greece and Türkiye • Supports alignment with commitments to MAC-TSM, WGC RGMPs and the TCFD • Integrating climate into business planning processes 46 Mitigate GHG emissions by an amount equal to 30% of our 2020 baseline by 2030, on a “business-as-usual” basis(1) (1) In a “business as usual” scenario, action is not taken to reduce emissions. Target applies to operating mines during the baseline year (Lamaque, Kışladağ, Efemçukuru, Olympias and Stratoni). (2) Based on Hydro-Quebec Residual electricity mix and greenhouse gas (GHG) emission rate, 2023. Journey to Decarbonization • Eldorado implemented 23,614 tCO2e of GHG emissions mitigations as of December 2024, representing 40% of our target total to mitigate 30% of our 2020 baseline from current operating mines by 2030, on a "business-as-usual" basis.(1) • We continue to progress GHG mitigation projects on our GHG Emissions Target Achievement Pathway, which comprises four levers: Operational efficiencies and continuous improvement projects Low-carbon technologies, processes and energy generation Electricity grid decarbonization Mine shutdown and operational changes • Recently implemented projects to mitigate GHG emissions include: At Kışladağ, adapting lighter-weight haul truck dump bodies and introducing electric drills Manual ventilation on demand (VOD) at our Olympias mine in Greece LED lighting at both Kışladağ and Efemçukuru Battery electric haul trucks at Lamaque Complex
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ESG Recognized as a Key Priority ESG Rating Performance 47 Eldorado ESG performance as a mid-cap miner includes recognition of strong sustainability management practices (1) Eldorado improved its CSA Score to 48 in the 2025 S&P Global Corporate Sustainability Assessment (up from 45 in 2024), above the Metals & Mining industry average of 33. CSA Scores (out of 100) reflect disclosure and performance on material ESG topics; higher scores indicate stronger ESG management, as of December 31, 2025. (2) Eldorado’s ISS ESG Quality Score was last updated on November 1, 2025. Governance Risk scores range from 1 (Lower Risk) to 10 (Higher Risk), while E&S Disclosure scores range from 1 (Higher Disclosure) to 10 (Lower Disclosure). (3) Based on a verified assessment. The MAC-TSM Tailings Management Protocol is not applicable to Kışladağ, as it does not produce tailings. Recognition for Responsible Mining • MAC-TSM Level AAA on Tailings Management at all operating tailings facilities: Lamaque Complex, the Kassandra Mines and Efemçukuru(3) • Eldorado Gold Quebec awarded the Mining Association of Canada's Towards Sustainable Mining 2024 Community Engagement Award for its work on long-term social closure planning, including tailings considerations, at Lamaque Complex. • Hellas Gold honoured with a ‘Silver Award’ at the 2024 Euromines Safety Awards – 2nd place among 15 top nominations in Europe - the award recognizes our innovative virtual and augmented reality training programs. • Committed to diversity and inclusion, adherence to WGC Conflict Free Gold Standards. Canada’s Best Companies in 2025 by TIME and Statista 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 (2) (1)
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Eldorado Gold Executive Management Team Experienced Operators Supported by a Committed and Proven Leadership Team George Burns CEO Paul Ferneyhough EVP & CFO Frank Herbert EVP and Chief Compliance Officer, GC, Executive Leadership Board of Directors Simon Hille EVP, Technical Services and Operations Louw Smith EVP, Development, Greece • Extensive experience in the mining sector. • Previously President and GC at Centerra Gold Inc. • Over 15 years in private practice at major Canadian law firms. • Significant experience working with the investment community in Europe and North America. • Over 30 years of experience in the resource industry including senior leadership roles in corporate, including finance, IR, strategy, commercial, planning and business performance management. • Prior to joining Eldorado, he was Executive Director at Repsol SA. • Over 30 years of experience in the mineral sector including executive, operations, development and engineering leadership roles in gold, copper and coal operations • Prior to joining Eldorado, he was EVP & COO at Goldcorp. • Began his career with Anaconda Company in 1978. • Over 30 years experience in gold and base metals, specializing in leading high-performance, cross-functional technical and operational teams to maximize value from complex ore bodies. • Prior to joining Eldorado, he was Group Executive, Technical Engineering and Global Project at Newmont (Goldcorp) • Over 30 years of experience in the mining sector. • Held progressively senior roles related to exploration, project management and mine operations management. • Prior to joining Eldorado, he was COO at NordGold for nine years, responsible for seven operating business units. Steven Reid Chair of the Board George Burns CEO Teresa Conway Independent Director Hussein Barma Independent Director Carissa Browning Independent Director Judith Mosely Independent Director Stephen Walker Independent Director Samantha Espley Independent Director Christian Milau President • Over 25 years of experience in finance, capital markets and mining with expertise in operational leadership and government and stakeholder relations across global mining jurisdictions. • His career includes serving as CEO of Equinox Gold, among other senior leadership roles. Dr. Sally Eyre Independent Director
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Eldorado Share Price Performance 50 (1) Data as of October 30, 2025. (2) Weighted average exercise price per share Cdn$16.80. (3) As of January 20, 2026 (4) NYSE: EGO Relative Share Price Performance Source: FactSet, data as January 20, 2026 Capital Structure Common Shares outstanding(1) 201,274,684 Share purchase options(1,2) 2,578,327 Performance share units(1) 1,044,867 Closing share price(3) (NYSE: EGO) $42.89 Market Capitalization(3,4) $8.7 B 52-week Share Price Range(3,4) $13.29 - $42.97 Analyst coverage: Bank of America, BMO, Canaccord, CIBC, Cormark, Global Mining Research, National Bank, RBC, Scotia, Stifel, TD
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Q3 2025 Operations & Highlights Update 51 Solid operational performance during Q3 2025; On track to achieve full year production guidance (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) On Oct. 30, 2025, the Company announced updated 2025 consolidated guidance ranges to reflect updated full -year expectations given the operational and financial performance year to date. Q3 2025 Asset Production (oz) Total Cash Costs(1) ($/oz) AISC(1) ($/oz) Lamaque Complex 46,823 767 1,199 Kışladağ 37,184 1,309 1,545 Efemçukuru 17,586 1,522 1,791 Olympias 13,597 1,869 2,421 Total 115,190 1,195 1,679 2025 Revised Guidance(2) 470k – 490k 1,175 – 1,250 1,600 – 1,675 GOLD PRICE DRIVING MARGIN EXPANSION AND STRONG CASH FLOW Generated ~$77 million of free cash flow(1) from operations, excluding Skouries investment spend Kışladağ EXECUTIVE AND BOARD CHANGES • Christian Milau, appointed as President • Board Succession: John Webster retiring after nearly 11 years of dedicated service; Samantha Espley appointed as a new director 2025 Revised Capital Guidance(2) Sustaining Capital Growth Capital Skouries Investment $145 – $170 M (expected at high- end) $245 – $270 M (no change) $440 – $470 M
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Hedge Portfolio Skouries Project Finance Related Hedges(1) • Gold and copper swaps for delivery on June 30, 2026, as follows: Gold: 32,000 ounces of gold at a forward price of $2,160 per ounce; and Copper: 6,160 tonnes of copper at a forward price of $8,525 per tonne • Foreign exchange hedging arrangements to fix the US dollar to Euro exchange rate for a portion of the Facility repayments • Interest rate swap covering 70% of the variable interest rate exposure • Gold collars for monthly settlement between July 1, 2027 to December 31, 2027 28,000 ounces with a put strike price of $3,000 per ounce and a call strike of $4,537 per ounce 52 Hedging related to Skouries Project Financing Skouries
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Sustainability Framework and SIMS Safe, Inclusive and Innovative Operations • Focused on workforce health and safety engagement including new Courageous Safety Leadership program • Development of new Critical Control Standards • Leverage technology to improve workplace safety, including continuous monitoring of physical (radar, InSAR, air quality, etc.), remote equipment and collision avoidance • Reduced TRIFR by 30% and PFO frequency rate by 27%, year-over-year 53 SIMS minimum performance standards operationalize our Framework’s four key commitments to ESG-related topics Responsibly Produced Products • Mitigating risk by implementing filtered tailings • SIMS Compliance Verifications at all operations include: External verification of MAC- TSM results, including AAA for Tailings Management at all operating tailings facilities Assurance of conformance with the World Gold Council’s Responsible Gold Mining Principles and Conflict-free Gold Standard Healthy Environments Now & The Future • Implementing our Climate Change Strategy: Adapting existing and adopting new equipment and processes to reduce energy consumption and mitigate GHG emissions Update Physical Climate Risk Assessments • Advancing progressive reclamation in Greece and Türkiye • Continual monitoring of environmental parameters, including air, soils and water Engaged & Prosperous Communities • Over $3 million invested in communities in 2024 • Adopting strategic community investment principles globally • Community of Interest Committees meet regularly at all operations to engage on key topics that have included: Tailings Closure Community investment
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Inclusive Diversity Global Initiatives • Updated Equity, Diversity & Inclusion Strategy created with input from the global employee workforce • Sponsor of Artemis Project, International Women in Mining • Global Employee Listening Strategy: 2024 Inclusion Survey found top strengths in contribution to a broader purpose (91% favorable), employees are comfortable voicing concerns or making suggestions about workplace health and safety (86% favorable) • Continue conducting gender pay equity reviews using best in class third party software to identify unintended, systemic bias in processes Corporate Initiatives • Robust Diversity Policy including aspirational representation goals; 6 women in executive leadership and 50% Board-level representation • Upstander Training offering 54 Committed to fostering safe and inclusive workplaces that value diversity, personal growth and innovation Operating Sites GREECE • 2024 Sustainability Bronze Award for Gender & Inclusion by the European Bank for Reconstruction and Development (EBRD) • Committed to Gender Equality in Greece as evidenced through achievement of the Share Equality Label award. QUÉBEC • Creation of a new health and wellness committee with different members of all departments • Second phase of Indigenous awareness training • Partnership with Women in Mining Abitibi on their new mentoring platform TÜRKIYE: BREAKING NEW GROUND ON GENDER EQUALITY • Unconscious Bias training for Management • Defying traditional gender stereotypes for certain roles in mining • Programs in place to support women entrepreneurs in rural development
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World Gold Council: Gold 247 55 ACCESSIBLE TO ALL • Enabling a digital transformation • Removing barriers and establishing modern market infrastructure • Digitalization is essential to modernize and improve accessibility to gold GOLD BAR INTEGRITY PLATFORM • WGC/LBMA have partnered to develop an internation system of gold bar integrity • Distributed ledger (blockchain) technology • Foundation for a more accessible and fungible market FULLY FUNGIBLE • Addresses barriers to trading gold across markets • Intent is to establish a global standard • In time, this will allow gold to be effectively traded as a digital asset Gold 247TM What is Gold 247 The World Gold Council’s strategic vision for transforming the global gold market and elevating gold into the mainstream of financial markets. The initiative will ultimately enable greater participation, increase trust and unlock greater demand. Why Now? Gold has a systemic role in the world’s economy – as an investment, a reserve asset, a source of employment and more. The way gold is traded and supply chain management needs to modernize so the industry continues to meet the expectations of all end-users and stakeholders.Gold 247 Initiatives Digitalization of Gold
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($ millions unless otherwise noted) Q3 2025 YTD 2025(4) 2024 2023 2022 Operating Metrics Realized Gold Price ($/oz) 3,527 3,245 2,405 1,944 1,787 Gold produced (oz) 115,190 364,852 520,293 485,139 453,916 Total cash costs(1) ($/oz sold) 1,195 1,134 940 850 878 All-in sustaining costs(1) ($/oz sold) 1,679 1,583 1,285 1,220 1,276 Income Metrics Revenue 434.7 1,241.7 1,322.6 1,008.5 872.0 Production costs 164.1 474.6 564.2 478.9 459.6 Net earnings (loss) for the period(2,3) 56.5 267.5 300.9 106.2 (49.2) Adjusted EBITDA(1,2) 196.3 571.1 691.6 463.3 321.5 Adjusted net earnings(1,2,3) 82.3 228.8 320.7 110.7 10.1 Adjusted net earnings per share(1,2,3) 0.41 1.12 1.57 0.57 0.05 Cash Flow Metrics Net cash generated from operating activities(2) 170.2 458.8 645.7 382.9 211.2 Cash flow from operating activities before changes in working capital(1,2) 183.5 522.0 635.5 411.2 239.5 Total Cash Capital expenditures(2) 242.5 592.2 594.2 401.8 289.9 Free cash flow(1,2) (87.4) (178.4) 6.8 (47.2) (104.5) Free cash flow excluding Skouries(1,2) 76.9 206.3 342.0 112.6 (69.4) Cash and cash equivalents 1,043.9 1,043.9 856.8 540.5 279.7 Financial Results 56 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) From continuing operations. (3) Attributable to shareholders of the Company. (4) Nine-months ended September 30, 2025.
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Mineral Reserves (Gold, Silver) as of September 30, 2025 57 Project Proven Mineral Reserves Probable Mineral Reserves Total Proven and Probable Gold Tonnes (x1000) Au g/t Contained Au ounces (x1000) Tonnes (x1000) Au g/t Contained Au ounces (x1000) Tonnes (x1000) Au g/t Contained Au ounces (x1000) Efemcukuru 929 4.04 120 3,361 4.72 510 4,290 4.57 630 Kisladag 175,742 0.65 3,645 18,702 0.50 301 194,444 0.63 3,946 Triangle, Plug #4 1,243 5.55 222 2,829 5.73 521 4,072 5.68 743 Ormaque, Parallel 42 12.49 17 2,759 9.37 831 2,801 9.41 848 Lamaque Complex 1,285 5.78 239 5,588 7.53 1,352 6,873 7.20 1,591 Olympias 3,791 7.38 899 5,400 5.07 881 9,191 6.02 1,780 Perama Hill 3,000 4.36 421 5,909 2.59 491 8,910 3.18 912 Skouries 72,536 0.85 1,992 75,465 0.69 1,674 148,001 0.77 3,666 Total Gold 257,283 0.88 7,316 114,425 1.42 5,209 371,708 1.05 12,525 Silver Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Efemcukuru 929 13.5 404 3361 11.1 1202 4,290 11.6 1606 Olympias 3,791 122 14,929 5,400 112 19,427 9,191 116 34,356 Perama Hill 3,000 3.88 374 5,909 4.78 909 8,910 4.48 1,283 Total Silver 7,720 63 15,707 14,670 46 21,538 22,391 52 37,245
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Mineral Reserves (Copper, Lead, Zinc) as of September 30, 2025 Project Proven Mineral Reserves Probable Mineral Reserves Total Proven and Probable Copper Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Skouries 72,536 0.51 366 75,465 0.50 375 148,001 0.50 741 Total Copper 72,536 0.51 366 75,465 0.50 375 148,001 0.50 741 Lead Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Olympias 3,791 3.9 149 5,400 3.9 211 9,191 3.9 360 Total Lead 3,791 3.9 149 5,400 3.9 211 9,191 3.9 360 Zinc Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Olympias 3,791 4.9 185 5,400 5.4 290 9,191 5.2 475 Total Zinc 3,791 4.9 185 5,400 5.4 290 9,191 5.2 475 58
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Mineral Resources (Gold, Silver) as of September 30, 2025 59 Project Measured Resources Indicated Resources Total Measured and Indicated Inferred Resources Gold Tonnes (x1000) Au g/t Contained Au ounces (x1000) Tonnes (x1000) Au g/t Contained Au ounces (x1000) Tonnes (x1000) Au g/t Contained Au ounces (x1000) Tonnes (x1000) Au g/t Contained Au ounces (x1000) Efemcukuru 1,529 6.25 307 3,625 6.58 767 5,154 6.48 1,074 1,419 3.90 178 Kisladag 238,626 0.62 4,767 38,158 0.48 593 276,784 0.60 5,359 6,594 0.43 91 Triangle, Plug #4 2,129 6.57 450 4,955 6.74 1,074 7,084 6.69 1,524 6,043 7.20 1,398 Ormaque, Parallel 56 12.77 23 3650 9.63 1,130 3,706 9.68 1,153 2,044 9.16 602 Lamaque Complex 2,185 6.73 473 8,605 7.97 2,204 10,790 7.72 2,677 8,087 7.69 2,000 Bonnefond 0 0.00 0 514 4.48 74 514 4.48 74 2,699 4.87 423 Olympias 4,760 9.32 1,426 5,864 6.63 1,251 10,624 7.84 2,677 2,693 8.25 714 Perama Hill - Oxide 2,980 4.30 412 6,194 2.49 496 9,175 3.08 908 3,959 3.08 392 Perama Hill - Sulphide 0 0.00 0 0 0.00 0 0 0.00 0 13,002 2.45 1,025 Perama South 0 0.00 0 0 0.00 0 0 0.00 0 14,870 1.52 728 Piavitsa 0 0.00 0 0 0.00 0 0 0.00 0 6,613 4.82 1,025 Sapes 0 0.00 0 0 0.00 0 0 0.00 0 3,434 7.43 820 Skouries 89,669 0.82 2,378 117,662 0.59 2,235 207,331 0.69 4,613 58,294 0.41 770 Total Gold 339,749 0.89 9,763 180,623 1.31 7,618 520,372 1.04 17,382 121,665 2.09 8,166 Silver Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Tonnes (x1000) Ag g/t Contained Ag ounces (x1000) Efemcukuru 1,529 22 1,096 3,625 22 2,571 5,154 22 3,666 1,419 32 1,469 Olympias 4,760 152 23,251 5,864 140 26,478 10,624 146 49,728 2,693 143 12,355 Perama Hill - Oxide 2,980 4 372 6,194 5 929 9,175 4.4 1,302 3,959 10 1,297 Perama Hill - Sulphide 0 0 0 0 0 0 0 0 0 13,002 12 4,851 Piavitsa 0 0 0 0 0 0 0 0 0 6,613 54 11,389 Stratoni 0 0 0 1,391 152 6,785 1,391 152 6,785 1,807 166 9,672 Total Silver 9,269 83 24,719 17,075 67 36,763 26,344 73 61,481 29,494 43 41,034
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Mineral Resources (Copper, Lead, Zinc) as of September 30, 2025 Project Measured Resources Indicated Resources Total Measured and Indicated Inferred Resources Copper Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Tonnes (x1000) Cu % Contained Cu tonnes (x1000) Perama Hill - Sulphide 0 0 0 0 0 0 0 0 0 13,002 0.12 15 Skouries 89,669 0.49 443 117,662 0.46 546 207,331 0.48 989 58,294 0.40 233 Total Copper 89,669 0.49 443 117,662 0.46 546 207,331 0.48 989 58,294 0.40 233 Lead Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Tonnes (x1000) Pb % Contained Pb tonnes (x1000) Olympias 4,760 4.9 233 5,864 4.8 284 10,624 4.9 517 2,693 4.7 127 Stratoni 0 0.0 0 1,391 6.0 84 1,391 6 84 1,807 6.9 124 Total Lead 4,760 4.89 233 7,255 5.1 368 12,015 5.0 601 4,500 5.6 251 Zinc Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Tonnes (x1000) Zn % Contained Zn tonnes (x1000) Olympias 4,760 6.2 293 5,864 6.7 394 10,624 6.5 687 2,693 5.7 153 Stratoni 0 0.0 0 1,391 8.4 117 1,391 8.4 117 1,807 8.3 150 Total Zinc 4,760 6.2 293 7,255 7.0 511 12,015 6.7 804 4,500 6.7 303 60
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Notes on Mineral Resources and Reserves 61 GENERAL Mineral Reserves and Mineral Resources are as of September 30, 2025 The Mineral Reserves and Mineral Resources were classified using logic consistent with the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014) incorporated, by reference, into National Instrument 43- 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Sample preparation, analytical techniques, laboratories used, and quality assurance and quality control protocols used during exploration drilling programs are done consistently with industry standards and independent certified assay labs are used. Mineral Reserves are included in the Mineral Resources. The Mineral Reserves and Mineral Resources are disclosed on a total project basis. Measured and Indicated Mineral Resources which are not Mineral Reserves, do not have demonstrated economic viability. With respect to “Inferred Mineral Resources”, there is a great amount of uncertainty as to their existence and uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of a “Measured Mineral Resource”, “Indicated Mineral Resource” or “Inferred Mineral Resource” will ever be upgraded to a higher category. Additional information on the Kisladag, Efemcukuru, Olympias, Skouries and Lamaque mineral properties mentioned in this presentation (all of which are considered to be material mineral properties to the Company) are contained in Eldorado’s annual information form for the year ended December 31, 2024 and the following technical reports for each of those properties, all of which are available under the Company's profile at www.sedarplus.com and www.sec.gov: • Amended Technical report entitled “Technical Report, for the Lamaque Complex, Quebec, Canada’” with an effective date of December 31, 2024. • Technical report entitled “Technical Report, Olympias Mine, Greece” with an effective date of December 31, 2023. • Technical report entitled "Technical Report, Efemcukuru Gold Mine, Turkiye” with an effective date of December 31, 2023. • Technical report entitled “Technical Report, Skouries Project, Greece” with an effective date of January 22, 2022. • Technical report entitled "Technical Report, Kisladag Gold Mine, Turkiye” with an effective date of January 17, 2020. QUALIFIED PERSONS 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 technical data disclosed in this document relating to our operating mines and development projects, unless otherwise noted. Additional qualified persons have approved disclosures for specific properties as detailed in “Mineral Reserve Notes” and “Mineral Resource Notes” below. Jessy Thelland, géo (OGQ No. 758), Director Technical Services Lamaque, 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 Quebec projects. CAUTIONARY NOTE TO US INVESTORS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES There are differences between the standards and terms used for reporting mineral reserves and resources in Canada, and in the United States pursuant to the United States Securities and Exchange Commission’s (the “SEC”). The terms Mineral Resource, Measured Mineral Resource, Indicated Mineral Resource and Inferred Mineral Resource are defined by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the CIM Definition Standards on Mineral Reserves and Mineral Resources adopted by the CIM Council, and must be disclosed according to Canadian securities regulations. These standards differ from the requirements of the SEC applicable to domestic United States reporting companies. Accordingly, information contained in this presentation with respect to mineral deposits may not be comparable to similar information made public by United States companies subject to the SEC’s reporting and disclosure requirements.
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Notes on Mineral Reserves (cont’d) 62 MINERAL RESERVE NOTES Eldorado reports Mineral Reserves in accordance with CIM Definition Standards. Mineral Reserves for the operating sites (Efemcukuru, Kisladag, Olympias, and within the Lamaque Complex – Ormaque, Triangle, Parallel and Plug #4) and the Skouries and Perama Hill projects were determined using a long-term gold price of $1,700/oz. A reserve test is undertaken every year to confirm future undiscounted cash flow from the reserve mine plan is positive. LONG-TERM METAL PRICE ASSUMPTIONS Gold price: $1,700/oz Silver price: $20.00/oz Copper price: $3.50/lb; $7,714/tonne Lead price: $2,000/t Zinc price: $2,500/t CUT-OFF GRADES Efemcukuru: $145.36/t NSR (long hole stoping), $151.76/t NSR (drift and fill); Kisladag: 0.1575 g/t Au Recoverable; Lamaque Complex: 4.19 g/t Au (long hole stoping), 4.54 g/t Au (drift and fill); Olympias: $223.40/t NSR; Perama Hill: 0.85 g/t Au; Skouries: $15.00/t NSR (open pit), $40.00/t NSR (underground). Qualified Persons: The following persons, all of whom are qualified persons under NI 43-101, are as follows: Asset Mining Type(s) Qualified Person Company Lamaque Complex: Triangle, Plug #4 Underground Jessy Thelland, géo (OGQ No. 758), Technical Services Director Lamaque Eldorado Gold Lamaque Complex: Ormaque, Parallel Underground Phillippe Groleau, Eng, (OIQ No. 5032770), Senior Strategic Planner Eldorado Gold Kisladag Open Pit Raj Priyadarshi, P.Eng., Manager, Open Pit Mine Planning Eldorado Gold Efemcukuru Underground Mike Tsafaras, P.Eng., Director, Mine Planning Eldorado Gold Olympias Underground Filip Medinac, P.Eng., Technical Services Manager, Olympias Eldorado Gold Skouries Open Pit and Underground Mike Tsafaras, P.Eng., Director, Mine Planning Eldorado Gold Perama Hill Open Pit Mike Tsafaras, P.Eng., Director, Mine Planning Eldorado Gold
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Notes on Mineral Resources 63 Mineral Resource Notes: Eldorado reports Mineral Resources in accordance with CIM Definition Standards. All Mineral Resources are assessed for reasonable prospects for eventual economic extraction (RPEEE). The Resource cut-off grades or values (e.g. gold equivalent) are determined using a long-term gold price ($2,100/oz) and modifying factors derived in the resource to reserve conversion process (or by comparison to similar projects for our resource-only properties). These values are then used to create constraining volumes that provide limits to the reported Resources. Resource grades are reported undiluted from within the constraining volumes that satisfy RPEEE. Open Pit Resources used pit shells created with the long-term gold price to constrain reportable model blocks. Underground Resources were constrained by volumes whose design was guided by a combination of the reporting cut-off grade or value, contiguous areas of mineralization and mineability. Eldorado’s Mineral Resources are inclusive of Reserves. Long-Term Metal Price Assumptions: Gold price: $2,100/oz | Silver price: $24.00/oz | Copper price: $4.15/lb; $9,147/tonne | Lead price: $2,200/t | Zinc price: $2,800/t Mineral Resource Reporting and demonstration of Reasonable Prospects for Eventual Economic Extraction: The Mineral Resources used a long term look gold metal price of $2,100/oz for the determination of resource cut-off grades or values. This guided execution of the next step where constraining surfaces or volumes were created to control resource reporting Only material internal to these volumes were eligible for reporting. Projects with both open pit and underground Resources have the open pit Resources constrained by an open pit/underground economic crossover surface, and underground Resources constrained by a reporting shape. Cut-off Grades: Bonnefond: 3.0 g/t Au; Efemcukuru: $104.50/t NSR; Kisladag: 0.13 g/t Au (recoverable); Lamaque Complex (Triangle, Plug #4, Parallel): 3.4 g/t Au; Ormaque 3.67 g/t Au (drift and fill); Olympias: $105.50/t NSR; Perama Hill – Oxide & Sulphide: 0.71 g/t Au; Perama South: 0.50 g/t Au; Piavitsa: 4.0 g/t Au; Sapes: 2.5 g/t Au (underground), 1.0 g/t Au (open pit); Skouries: $15/t NSR (open pit), $40/t NSR (underground); Stratoni: $200/t NSR, based on Zn equivalent grade of 10%. Qualified Persons: The following persons, all of whom are qualified persons under NI 43-101, have approved the disclosure contained within this presentation: Asset Mining Type(s) Qualified Person Company Lamaque Complex: Triangle, Plug #4, Ormaque, Parallel Underground Jessy Thelland, géo (OGQ No. 758), Technical Services Director, Lamaque Eldorado Gold Bonnefond Underground Karine Brousseau, Eng. (OIQ No. 121871), Senior Manager, Resource Geology Eldorado Gold Kisladag Open Pit Karine Brousseau, Eng. (OIQ No. 121871), Senior Manager, Resource Geology Eldorado Gold Efemcukuru Underground Karine Brousseau, Eng. (OIQ No. 121871), Senior Manager, Resource Geology Eldorado Gold Olympias Underground Karine Brousseau, Eng. (OIQ No. 121871), Senior Manager, Resource Geology Eldorado Gold Skouries Open Pit Sean McKinley, P.Geo., Manager, Mine Geology & Advanced Projects Eldorado Gold Skouries Underground Sean McKinley, P.Geo., Manager, Mine Geology & Advanced Projects Eldorado Gold Perama Hill Open Pit Karine Brousseau, Eng. (OIQ No. 121871), Senior Manager, Resource Geology Eldorado Gold Perama South Open Pit Karine Brousseau, Eng. (OIQ No. 121871), Senior Manager, Resource Geology Eldorado Gold Piavitsa Underground Sean McKinley, P.Geo., Manager, Mine Geology & Advanced Projects Eldorado Gold Sapes Underground & Open Pit Sean McKinley, P.Geo., Manager, Mine Geology & Advanced Projects Eldorado Gold Stratoni Underground Sean McKinley, P.Geo., Manager, Mine Geology & Advanced Projects Eldorado Gold
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