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TSX: WDO | OTCQX: WDOFF C O R P O R A T E P R E S E N T A T I O N NOVEMBER 2025
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Forward-Looking Statements 2 Forward-Looking Statements This presentation contains “forward-looking information” which involve a number of risks and uncertainties. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this presentation and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements or information contained in this presentation include, but are not limited to, statements or information with respect to: the Company’s stronger expected production in the second half of 2025; the Company’s position to deliver on its full-year guidance; the timing of the release of a Technical Report for Eagle River; the expected reduction in grade variability and improvement in operational flexibility at Kiena; the details, components and approaches as part of the Company’s long-term value creation strategy; the exploration and drilling prospects and future discovery potential of the 6 Central Zone at Eagle River; the exploration and drilling prospects of the 300 Zone at Eagle River; the potential for additional mineralization to the west of the diorite at Eagle River; exploration and drilling prospects of the VC Zone at Kiena; options to extend underground development at the VC Zone and North Zone targets at Kiena; the expected commencement of drilling at Kiena’s second drill bay; the drilling and exploration prospects of the Kiena Deep Footwall zones and the potential for additional lenses to be delineated; the planned drilling from the 33-level development at Kiena; the planned surface drilling of the Presqu’île orebody; the components and objectives of the exploration drilling of the Presqu’île orebody; the timing of the expected first mine production from the Presqu’île orebody; the expected timing of the issuance of mining permits for the Presqu’île orebody; and the expected timing of the crusher installation and main fan installation at Presqu’île. Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled “Cautionary Note Regarding Forward-Looking Information” and “Risks and Uncertainties” in the Company’s most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website. 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. The Company undertakes no obligation to update forward-looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Non-IFRS Performance Measures Certain non-IFRS financial measures and ratios are included in this presentation, including cash margin, free cash flow, cash costs, all-in sustaining cost. Please see the Company’s MD&A for the three months ended September 30, 2025, for explanations, definitions and discussion of these non-IFRS financial measures and ratios. The Company believes that these measures, in addition to conventional measures 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 financial measures and ratios are intended to provide additional information 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. For definitions and reconciliations of these non-IFRS measures, please refer to the last page of this presentation. Currency Unless otherwise disclosed, all references to “$” are to Canadian dollars and all references to “US$” are to United States dollars. Certain Other Information Any graphs, tables or other information demonstrating our historical performance, or any other entity contained in this presentation are intended only to illustrate past
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Simple & Compelling Value Proposition 3 High-Grade Canadian Gold Mines • Large underexplored land packages on prolific greenstone belts Debt-Free Balance Sheet1 • $266M cash • Zero bank debt • US$250M available credit2 Robust FCF Driven by High Margins • 29% free cash flow margin3 vs. 15% for peers4 and 31% for large caps5 Organic Growth Fill-the-Mill Strategy • Global model • Strategic exploration • Cost optimization (1) See Wesdome’s consolidated interim financial statements for the period ended September 30, 2025 (2) See the Company’s press release dated June 19, 2025 (3) Based on consensus 2025E free cash flow / revenue for Wesdome, peers and large caps (source: S&P Cap IQ) (4) TSX peers include the following: Aris, Centerra, Discovery Silver, DPM Metals, Eldorado, Equinox, G-Mining, K92 Mining, New Gold, OceanaGold, Orla, SSR and Torex (5) TSX large caps include the following: Agnico, Alamos, Barrick, Endeavour, Kinross and Lundin Gold
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ONTARIO QUÉBEC C A N A D A Eagle River Kiena Two of Canada’s Highest Grade Gold Mines Kiena (Producing, 100% Owned) Location Val-d’Or, Québec Greenstone Belt Abitibi Land Package 75 km2 Reserve Gold Grade1 #4 in Canada 2P Reserves 701,000 oz | 9.1 g/t M&I Resources2 158,000 oz | 5.8 g/t Inferred Resources2 411,000 oz | 5.0 g/t Workforce (Dec 31, 2024) 447 (incl. 213 contractors) Royalty nil Eagle River (Producing, 100% Owned) Location 50 km west of Wawa, ON Greenstone Belt Mishibishu Land Package 400 km2 Reserve Gold Grade #1 in Canada 2P Reserves 487,000 oz | 12.3 g/t M&I Resources2 228,000 oz | 8.8 g/t Inferred Resources2,3 229,000 oz | 2.6 g/t Workforce (Dec 31, 2024) 532 (incl. 182 contractors) Royalty 2%(1) Sources: S&P Capital IQ and public company data (2) 2024 mineral resources stated exclusive of reserves (3) Eagle River inferred mineral resources includes Mishi 120,000 oz at 1.62 g/t as of December 31, 2024 4 Greenstone belt Toronto Head Office
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0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 $10 $12 $14 $16 $18 $20 $22 $24 $26 $28 Nov 2024 Jan 2025 Mar 2025 May 2025 Jul 2025 Sep 2025 Daily Volume Gold WDO GDXJ Capital Markets Data Analyst Coverage Top Shareholders Van Eck Associates Sprott Asset Mgmt. Dimensional Fund Advisors (US) Hillsdale Investment Mgmt. BlackRock Fund Advisors (US) 1832 Asset Mgmt. RBC Global Asset Management T. Rowe Price Associates BlackRock Asset Mgmt. (Canada) ALPS Advisors BMO Capital Markets – Andrew Mikitchook RBC Capital Markets – Michael Siperco Canaccord Genuity – Jeremy Hoy Stifel – Ralph Profiti CIBC Capital Markets – Luke Bertozzi TD Cowen – Wayne Lam Desjardins – Allison Carson Ventum – Phil Ker National Bank Financial – Don DeMarco 11 Corporate Snapshot TSX / OTCQX Symbols WDO / WDOFF 52-Week Range (TSX) $10.89 - $24.80 Share Price (close on Nov. 4, 2025) $20.86 / US$14.84 Shares Outstanding / Fully Diluted 151.0M / 153.2M Market Capitalization $3.0B / US$2.2B Cash2 $266M Bank Debt2 – Credit Facility Capacity3 US$250M Average Daily Volume (Canada + US) 1.0M 5 (C$/sh) Oct 2025 (1) GDXJ and Gold price is indexed relative to Wesdome’s share price (2) As at September 30, 2025 – see Wesdome’s consolidated interim financial statements for the period ended September 30, 2025 (3) Excludes US$50M accordion
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Pillars of Wesdome’s Future Success • Operating safely and responsibly • Passionate and engaged workforce • Solid and trusting community partnerships • Making a difference through sustainable practices Built on a Culture of Ownership & Care Carbon Footprint1 Scope 1 & 2 Emissions / AuEq oz (1) Carbon footprint based on sustainability reporting measured as tonnes of CO2 emissions per gold equivalent ounce produced 6 0.12 0.43 0.52 WDO Peers Large Cap
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$1,552 $1,653 $1,459 $1,804 $1,948 $2,433 111 123 172 2022 2023 2024 2025E (1) For more information on updated 2025 production and AISC/oz guidance, please see the Company’s press release dated November 4, 2025 2025E Guidance1 $1,450 - $1,575 Production1 (koz) Average realized gold price (US$/oz) AISC1 (US$/oz) Eagle River Kiena Driving Production & Margin Expansion 7 177 - 193
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(1) 2025 production per share is based on the midpoint of Wesdome’s 2025 updated guidance range of 177-193koz divided by its current shares outstanding (see the Company’s press release dated November 4, 2025) (2) Operating cash flow per share for 2025 is based on S&P Capital IQ consensus estimates History of Shareholder Value Creation 8 0.4 0.4 0.5 0.7 0.6 0.9 0.8 0.8 1.2 1.2 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Production (oz / 000 shares)1 Mineral Reserve (oz / 000 shares) 3.5 3.8 3.0 4.0 4.1 8.2 7.1 7.7 7.9 2016 2017 2018 2019 2020 2021 2022 2023 2024 Operating Cash Flow ($ / share)2 $0.16 $0.19 $0.31 $0.59 $0.73 $0.86 $0.33 $0.69 $1.52 $2.92 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E
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83 55 63 WDO Peers Large Cap 10.2 1.2 1.4 WDO Peers Large Cap Jurisdiction Ranking1 Ranking out of 100 (highest) Higher Quality Across Key Benchmarks (1) Fraser Institute Annual Survey of Mining Companies 2023 – Attractiveness Index based on production weighted averages for WDO, peers and seniors (2) TSX peers include the following: Aris, Centerra, Discovery Silver, DPM Metals, Eldorado, Equinox, G-Mining, K92 Mining, New Gold, OceanaGold, Orla, SSR and Torex (3) TSX large caps include the following: Agnico, Alamos, Barrick, Endeavour, Kinross and Lundin Gold (4) Includes gold reserve grade only and does not include byproduct credits or non-gold assets (5) Based on calculations performed by CIBC using data from FactSet Reserve Grade4 Au g/t 2024 ROIC5 NOPAT / Total Invested Capital 9 2 3 Free Cash Flow / oz5 2025E FCF per ounce produced Free Cash Flow Yield5 2025E FCF / Current EV Free Cash Flow Margin5 2025E FCF / Revenue 23.6% 6.9% 10.6% WDO Peers Large Cap 1,342 786 1,443 WDO Peers Large Cap 29% 15% 31% WDO Peers Large Cap 8.9% 3.8% 5.0% WDO Peers Large Cap
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321 OPTIMIZING COSTS & LEVERAGING FIXED COST BASE Fill-the-Mill Strategy Supported by Organic Growth Initiatives 10 Kiena ~1,200 tpd*~2,040 tpd* Eagle River Exploration success Ore from new Presqu’île deposit Increased ore production from Kiena Deep Global model & exploration success Technology & automation Cut-off grade & incremental ore * Targeting 80%+ of Eagle River’s permitted capacity of 1,200 tpd* Targeting 80%+ of Kiena’s permitted capacity of 2,040 tpd STRATEGIC EXPLORATION GLOBAL MODEL INITIATIVE 594 594 150 - 250 250 - 400 2024 Average tpd Target tpd 610 610 2024 Average tpd Target tpd 150 - 200 100 - 150
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11 300 Zone 800 Zone 700 Zone 600 Zone Falcon 720 GM1 GM2 GM4 GM5 GM7 GM9 GM8 GM10 GM11 GM12 GM15 GM16 GM13 GM17 GM18 GM19 GM23 GM24 GM20 GM21 GM25 GM26 GM27 GM30 GM29 GM31 GM32 800C 300B 800E 800F 600B 600A GM3 GM22 GM28 300 Fold Zone 2 Zone Falcon 311 Existing workings 2024 drill targets (higher confidence) 2025 drill targets (lower confidence) 2025 drill targets (higher confidence) YE 2024 resource shapes 800A 800B 1 Global Model Highlights Potential Unmined Ore at Eagle River 0 250 500 750 1,000
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12 80,000 m Drilling in 2025 130,000 m Drilling in 2025 Reserves M+I Resources Inferred Resources Advanced Targets Eagle River - 45, Kiena - 17 Follow-up Targets Eagle River - 30, Kiena - 27 Identified Targets Eagle River - 101, Kiena - 24 Enough information to be classified as mineral resources Not enough information to be classified as mineral resources Target Triangle Showcases Robust Exploration Pipeline2
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Supply Chain and Contractor Management 2025E AISC US$1,450 - 1,575/oz Current Margin Profile* Mid-Term AISC* Decreasing AISC • Leverage fixed costs over increased production base • Blend lower-grade ore with high-grade to increase ounces produced • Cost optimization COST OPTIMIZATION INITIATIVES Productivity and Planning * Targeting a decline in AISC per ounce over the next 5 years through cost optimization initiatives and the impact of the Company’s fill-the-mill strategy on leveraging its fixed cost base Mid-Term Margin Profile* Assumes constant average realized gold price per ounce Technology and Automation IMPACTS OF LEVERAGING FIXED COST BASE 3 Optimizing Costs & Leveraging Fixed Cost Base 13
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Upcoming Milestones & Catalysts 14 Q4 2025 Eagle River and Kiena exploration updates Commence level 136 stoping in Kiena Deep Complete access and development in level 142 in Kiena Deep Complete Kiena ramp and commence Presqu’île stoping Q1 2026 H1 2026 Announce results of NI 43-101 reports Q2 2026 2027
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15 Growing a Value-Driven Gold Producer 2020 Production (Eagle River only) 2020A: 90koz Growing Production (Eagle River + Kiena) 2024A: 172koz 2025E: 177-193koz Organic Growth Initiatives to Fill-the Mill • Global model • Strategic exploration • Cost optimization and leverage fixed cost base Disciplined M&A • Accretive • Tier 1 jurisdictions • Industrial logic
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16 High-Grade Canadian Gold Mines • Large underexplored land packages Debt-Free Balance Sheet1 • $266M cash • Zero bank debt • US$250M available credit2 • Returning capital to shareholders through a share buyback Robust FCF Driven by High Margins • 29% free cash flow margin3 vs. 15% for peers4 and 31% for large caps5 Organic Growth Fill-the-Mill Strategy • Global model • Strategic exploration • Cost optimization (1) See Wesdome’s consolidated interim financial statements for the period ended September 30, 2025 (2) See the Company’s press release dated June 19, 2025 (3) Based on consensus 2025E free cash flow / revenue for Wesdome, peers and large caps (source: S&P Cap IQ) (4) TSX peers include the following: Aris, Centerra, Discovery Silver, DPM Metals, Eldorado, Equinox, G-Mining, K92 Mining, New Gold, OceanaGold, Orla, SSR and Torex (5) TSX large caps include the following: Agnico, Alamos, Barrick, Endeavour, Kinross and Lundin Gold Simple & Compelling Value Proposition
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Kiena Val-d’Or, Quebec
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Decades in Operation with ~2 Million Ounces of Gold Produced Kiena Production 1981-2002 10.7Mt averaging 4.5 g/t Au for production of 1.56Moz 2006-2013 1.8 Mt averaging 3.4 g/t Au for production of 0.20Moz 1997 McWatters Mines purchases Kiena mine from Placer Dome 2003 Wesdome buys Kiena, Shawkey & McKenzie Break properties 2016 Discovery of high-grade Kiena Deep 2021 Kiena Deep PFS 2024 Mined first ore from Kiena Deep 1981 First ore mined 1984 Falconbridge commissions Kiena mill 2021-2024 0.6 Mt averaging 8.8 g/t Au for production of 0.16Moz 1986 Campbell Red Lake purchases Kiena from Falconbridge * Midpoint of updated 2025 guidance of 72,000-78,000 * * 18
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Abitibi Greenstone Belt Hosts Prolific Gold Region Holt Holloway Agnico Eagle Fenn-Gib Mayfair Hislop Agnico EagleBlack Fox / Grey Fox McEwenWhitney JV Discovery Silver Upper Beaver Agnico Eagle Wasamac Agnico Eagle Horne Falco Heva-Hosco Hecla Lapa Agnico Eagle O’Brien Radisson Marban Agnico Eagle Lac Herbin Eldorado Bonnefond Eldorado Monique Probe Val-d’Or East Probe Perron Amex Beaufor Probe Lamaque Eldorado Goldex Agnico Eagle Canadian Malartic Agnico Eagle LaRonde Agnico Eagle Westwood IAMGOLD Elder Abcourt Macassa Agnico Eagle Young-Davidson Alamos Taylor Agnico Eagle Hoyle Pond Discovery Silver Bell Creek Pan American Porcupine/Holl inger/Dome Discovery Silver Timmins West Pan American Timmins Matheson Kirkland Lake Rouyn Noranda Cadillac Malartic Val-d’Or ONTARIO QUÉBEC Porcupine-Destor Fault 0 20 40 kilometres Producing Mine Development Project Abitibi Greenstone Belt Town LEGEND N Borden Discovery Silver 19 Kiena
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K Shear Zone Norbenite Fault Marbenite Fault 0 500 1,000 metres Kiena land package Gold trend Lake Land Resource shapes Quartz / tourmaline veins with albite alteration corridor NORTHERN CORRIDOR Wesdome Mine (never mined - 205koz at 4.9 g/t inferred) Siscoe Mine (past production - 882koz at 9.2 g/t -1929-1949) SOUTHERN CORRIDOR Dubuisson Zone (discovered in 2008 - 36koz at 5.8 g/t reserves) Shawkey Mine (past production - 25koz at 6.3 g/t – 1935-1938) Kiena Mine (discovered in 1911 - mining started in 1981) Presqu'île Zone (mining anticipated in late 2025) (discovered in 2012 - 76koz at 6.2 g/t reserves) Kiena Shaft Largely Unexplored Prolific Land Package at Kiena 20
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Increasing Operational Flexibility at Kiena 21 Level 109 Exploration Drift (VC Zone, NW, NE in 2025) 0 m Existing shaft to 930m depth New ramp to surface -1,000 m -1,500 m -500 m Level 134 Exploration Drift (Kiena Deep and Foowall Zone – 2025) Level 11 Three active mining areas Two ways to move people and materials More than 5 exploration drifts Mineralized Zone Projected Stopes 2026 As Built Development Projected Stopes 2027 2 1 2 1 1 3 3 3 3 Presqu’île Exploration (Presqu’île - 2025) Level 103 Exploration Drift (Kiena Deep) 2 Level 33 Level 33 Exploration (Shawkey, Dubuisson, Wish Area - 2025)3 Presqu’île active mining area Kiena Deep and 136-Level active mining areas 3
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Kiena 2025 Exploration Program1,2 (75,000 metres) (1) Includes development of exploration drift on level 109 (2) Approximate drilling costs per metre at Kiena: underground $180-$200 and barge drilling $150-$170 Unlocking Kiena’s Exploration Potential to Drive Shareholder Value 22 18,000 m Delineation 10,000 m Conversion 20,000 m Brownfield 27,000 m Greenfield Duchesne Shawkey Northwest Northeast Presqu’île Footwall Hanging Wall VC Dubuisson Wish Duchesne Presqu’île Northeast Dubuisson Kiena Deep Shawkey WishLevel 33 Drift 0 500 1000 1500 Footwall Wall Kiena Shaft Northwest VC Mineral resource shapes Hanging Wall
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23 High-Grade Opportunities Across 5-Kilometre Mineralized Trend Northwest Martin Kiena Deep Shawkey Dubuisson Reserves 36koz | 5.8 g/t Exploration Ramp Level 33 Presqu’île Reserves 76koz | 6.2 g/t *Interval lengths are core length and not true width 1. N127-7035 returned 2,349.9 g/t (uncut) over 2.9m core length Kiena Resource Shapes Selected Intercept Wish Wisik Kiena Deep FW Zones 930 m mine shaft 1,250 tpd capacity (ore & waste) PR-24-088 42.3 g/t Au / 2.6 m NW-24-005 24.8 g/t Au / 2.9 m* DB-24-022 9.5 g/t Au / 3.2 m* 5.6 g/t Au / 4.4 m* 5.3 g/t Au / 3.1 m* DB-24-023 16.8 g/t Au / 5.9 m* N127-6948 (FWZ) 53.7 g/t Au / 2.4 m N103-6840W7 (ZA) 63.6 g/t Au / 3.8 m S50 & B Zone Presqu’île VC K109 109 Level Exploration Drift 134 Level Exploration Drift DU-24-003 19.2 g/t Au / 3.2 m* DB-24-024 9.1 g/t Au / 19.5 m* 0 250 500 750 1000 Plunge 00 Azimuth 000 Looking north N125-7039 (BZ) 25.7 g/t Au / 3.5 m N127-6950 (FWZ) 33.2 g/t Au / 5.9 m N127-7053 (FWZ) 52.3 g/t Au / 3.1 m N127-6949 (FWZ) 44.8 g/t Au / 6.5 m N033-6998 13.8 g/t over 3.3 m* 25.4 g/t over 3.5 m* Kiena Deep Reserves 587koz | 10.1 g/t N127-7035 (ZA)1 32.6 g/t Au / 2.9 m*
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24 Kiena Deep Presqu’île Dubuisson Wesdome 134 Zone Northwest >100,000 oz Tier 4 50,000 – 100,000 oz 10,000 – 50,000 oz < 10,000 oz Size Potential Tier 5 Tier 6 Exploration Priority Landmarks Exploration Shaft Past Producing Shaft Producing Shaft Kiena Property Boundary 24 Extensive Regional Exploration Targets Identified at Kiena 0 1 2km
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Eagle River Wawa, Ontario
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1995 Magnacon mill leased and first gold poured from Eagle River mine 1997 – 2002 Processed ore from Edwards mine ~100 km to the north 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 *2025E Eagle River (1995-2024): 5M tonnes averaging 10.3 g/t Au for production of ~1.8Moz Edwards Mine (1997-2002): 390,000 tonnes averaging grade of 11.2 g/t Au for production of 140,000 oz Mishi Mine (2002-2023): 936,000 tonnes averaging 2.2 g/t Au for production of 67,300 oz 2+ Million Ounces of Gold Production at Eagle River Since 1995 2002 – 2004 First production from Mishi open pit 2012 – 2023 Mishi open pit restarted 2013 Discovered two new parallel structures: the 7 Zone and the 300 Zone 2019 Falcon Zone was discovered in the volcanic rocks west of the mine area 2023 Discovery of Falcon 311 Zone 26* Midpoint of updated 2025 guidance of 105,000-115,000
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Northern Ontario – An Attractive Region for Gold Production Hemlo (Barrick)Marathon White River Dubreuilville Wawa Chapleau Sugar Zone (Vault Minerals) Magino (Alamos) Island Gold (Alamos) Borden (Discovery Silver) Wawa Gold Project (Red Pine) Eagle River Producing mine Roads Railroads Past producing mine Development project Archean greenstone 0 25 50 Kilometres 27
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Dorset Zone Eagle River Mine Eagle River Mill Mishi Mine Magnacon Mine 28 Eagle River Deformation Zone Eagle River Mine Gold mine / deposit Regional gold trend Lake Superior Wesdome property Eagle River resource shapes (projected to surface) Haul road 0 2.5 5 Kilometres 7.5 10 Cameron Lake BIF ZoneEagle River Splay Deformation Zone 400 km2 of Exploration Potential on the Mishibishu Greenstone Belt Eagle River Splay
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Significant Opportunity in Known Mineralized Structures at Eagle River 29 Eagle River 2025 Exploration Program1,2 (135,000 metres) Mishi and Magnacon Dorset Iron Formation Eagle River Splay Fork Vein, Birch Vein HP IP Anomaly D 0 250 500 750 1,000 Plunge +90 Azimuth 000 Looking Down Diabase Granite Diorite Gabbro Geology Felsic Volcanics Mafic Volcanics 2 / HP Fork Vein Birch Vein Mishi and Magnacon 20 km Falcon 311 300 6 Central 6 Central Parallel Falcon Anomaly A Anomaly D IP Survey Area Decline Portal (1) Includes 100 line-km induced polarization survey and regional mapping program (2) Approximate drilling costs per metre at Eagle River: underground $85-$95 and surface $290-$300 18,000 m Delineation 34,000 m Conversion 50,000 m Brownfield 33,000 m Greenfield 300 6 Central 6 Central Parallel Falcon 311
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-500m -1250m -500m -1250m 200 818 800 700 500 311 711 811 300 720 Falcon Falcon 311 6 Diorite Boundary 6 Central 857-E-64 10.2 g/t Au / 0.7 m 1201-E-72 27.8 g/t Au / 1.7 m 1201-E-59 20.6 g/t Au / 0.7 m 1201-E-68 46.8 g/t Au / 0.6 m 758-E-500 40.0 g/t Au / 6.3 m Plunge 00 Azimuth 000 Looking North Diorite Boundary 857-E-94 7.9 g/t Au / 0.3 m ERS-2023-005 9.5 g/t Au / 1.3 m 758-E-570 49.1 g/t Au / 2.0 m 758-E-580 115.9 g/t Au / 1.6 m Continuing a Legacy of Growth Through Exploration at Eagle River 30 11250E 600 m mine shaft 1,700 tpd capacity (ore & waste) 9750E9000E 11250E10500E9750E9000E Mineral Resource Shapes Existing Workings Drillhole Intercepts Interpreted Diorite Boundary 0 250 500 750 857-E-108 14.6 g/t Au / 3.9 m 25-355-07 32.6 g/t Au / 1.7 m ERS-2025-027 11.0 g/t Au / 1.0 m 300 Fold 1224-E-04 17.5 g/t Au / 1.7 m 1201-E-87 18.5 g/t Au / 0.8 m 1201-E-62 26.0 g/t Au / 1.2 m OPEN OPEN
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Extensive Areas of Eagle River Mine’s Host Rock Unit Remain Unexplored 31 720 Falcon / 711 Zone 0 125 250 375 500m 311 Zone 300 Zone 7311 Zone 811 Zone 700 Zone 800 Zone Untested portions of the diorite body* 811 / 800 western extension +10500N +10000N +9500N +11000 E+10500 E+10000 E+9500 E+9000 E +10500N +10000N +9500N +11000 E+10500 E+10000 E+9500 E+9000 E Existing development Unmineralized dykes YE 2024 Resource shapes High exploration potential Interpreted diorite boundary Drill holes 600 Central *Elevation of section Z:4181 based on local grid coordinates (relative to surface Z:5000)
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32 Abbey Lake Cameron Lake Iron Formation Birch Vein / Eagle River Splay Dorset Eagle River Mine 100+ Regional Exploration Targets Identified at Eagle River >100,000 oz Tier 4 50,000 – 100,000 oz 10,000 – 50,000 oz < 10,000 oz Size Potential Tier 5 Tier 6 Exploration Priority Exploration Program Ground geophysics Structural Mapping Soil geochemistry 2025 Drilling 10 km0 5 Mishi Magnacon
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Appendix
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Senior Leadership & Board of Directors Senior Leadership Anthea Bath President & Chief Executive Officer Guy Belleau Chief Operating Officer Philip C. Yee Chief Financial Officer Raj Gill Senior Vice President Corporate Development & Investor Relations Jono Lawrence Senior Vice President Exploration & Resources Kevin Lonergan Senior Vice President Technical Services Peter Gula General Manager Eagle River Mine Kevin Weston General Manager Kiena Mine Jim Dainard Vice President Finance Robert Kallio Vice President, General Counsel & Corporate Secretary Joanna Miller Vice President Sustainability & Environment Trish Moran Vice President Investor Relations Board of Directors Edward Dowling Chair Anthea Bath President, CEO & Director Louise Grondin 2*,4 Independent Director Jacqueline Ricci 1*,3 Independent Director Brian Skanderbeg 1,3,4* Independent Director Edie Thome 2,3*,4 Independent Director Bill Washington 1,2 Independent Director 1 Member of Audit Committee 2 Member of Compensation and Human Resources Committee 3 Member of Governance and Nominating Committee 4 Member of Technical, Safety and Sustainability Committee * Denotes Committee Chair 34
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2025 Guidance Eagle River Kiena Consolidated Previous Jan 14, 2025 Updated Aug 13, 2025 Previous Aug 13, 2025 Updated Nov 4, 2025 Previous Aug 13, 2025 Updated Nov 4, 2025 Production Head grade (g/t) 13.0 - 15.0 14.0 - 15.0 10.0 - 11.0 10.0 – 10.5 12.0 - 13.0 12.0 - 13.0 Gold production (oz) 100,000 - 110,000 105,000 - 115,000 80,000 - 90,000 72,000 - 78,000 185,000 - 190,000 177,000 - 193,000 Operating Costs Depreciation and depletion ($M) $55 $45 $60 $60 $105 $105 Corporate and general1 ($M) $12 $15 $15 $15 $30 $30 Exploration and evaluation2 ($M) $5 $10 $10 $10 $20 $20 Cash costs3 ($/oz) $1,225 - $1,350 $1,225 - $1,325 $1,200 - $1,375 $1,350 - $1,450 $1,225 - $1,350 $1,275 - $1,375 All-in sustaining costs3 ($/oz) $1,875 - $2,075 $1,925 - $2,075 $1,925 - $2,200 $2,175 - $2,350 $1,925 - $2,125 $2,025 - $2,175 All-in sustaining costs3 (US$/oz) $1,400 - $1,550 $1,375 - $1,500 $1,400 - $1,575 $1,575 - $1,700 $1,375 - $1,525 $1,450 - $1,575 Capital Investment4 Total capital ($M) $65 $70 $120 $120 $190 $190 Sustaining capital ($M) $60 $65 $55 $55 $120 $120 Growth capital ($M) $5 $5 $65 $65 $70 $70 (1) Consolidated 2025 guidance for corporate and general costs excludes an estimated $7 million in stock-based compensation. Corporate G&A of $30 million is allocated equally to each mine and is included in the Company’s AISC calculation. (2) Exploration and evaluation costs primarily include surface drilling activities and regional office expenses. (3) Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of non-IFRS measurements to the financial statements. (4) Total capital expenditures are the sum of sustaining and growth capital expenditures and are reported under investing activities on the statements of cash flows in the Company’s financial statements. Updated 2025 Guidance1 35
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Consolidated Financial Highlights In $000s, except per units and per share amounts YTD 2025 Q3 2025 Q2 2025 Q1 2025 FY2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FY 2023 Q4 2023 Financial results Revenue2 626,450 230,284 208,548 187,618 558,184 182,611 146,852 127,799 100,922 333,173 102,221 Cash margin1 445,404 168,443 149,367 127,594 342,135 124,637 94,635 76,239 46,624 132,939 47,576 Net income (loss) 232,092 86,923 82,696 62,473 135,471 56,629 38,999 29,135 10,708 (6,187) 2,420 Adjusted net income (loss)1 228,252 86,923 78,856 62,473 135,668 56,629 39,196 29,135 10,708 (1,910) 2,420 EBITDA1 407,312 149,554 138,399 119,359 308,006 114,868 84,600 67,863 40,675 99,333 38,256 Net cash from operating activities 299,289 118,213 100,920 80,156 240,972 76,411 60,976 57,083 46,502 101,351 37,176 Free cash flow1 179,392 78,964 52,924 47,505 118,597 39,874 30,838 28,437 19,448 (6,405) 7,799 Per share information Earnings (loss) 1.54 0.58 0.55 0.42 0.91 0.38 0.26 0.19 0.07 (0.04) 0.02 Adjusted net income (loss)1 1.52 0.58 0.52 0.42 0.91 0.38 0.26 0.19 0.07 (0.01) 0.02 Operating cash flow1 1.99 0.78 0.67 0.53 1.61 0.51 0.41 0.38 0.31 0.69 0.25 Free cash flow1 1.19 0.52 0.35 0.32 0.79 0.27 0.21 0.19 0.13 (0.04) 0.05 Select balance sheet data Cash and cash equivalents 265,893 265,893 187,564 167,934 123,097 123,097 82,515 50,697 48,252 41,371 41,371 Working capital 274,495 274,495 199,273 181,341 131,261 131,261 69,413 31,204 (1,033) (6,894) (6,894) Total assets 1,035,161 1,035,161 932,996 816,587 746,654 746,654 684,736 644,288 636,190 618,956 618,956 Total non-current liabilities 132,478 132,478 126,411 122,769 121,953 121,953 110,269 108,009 108,337 102,541 102,541 Per ounce of gold sold1 (C$) Average realized price1 4,515 4,853 4,539 4,136 3,333 3,746 3,420 3,192 2,823 2,629 2,715 Cost of sales 1,306 1,305 1,289 1,325 1,291 1,190 1,217 1,289 1,521 1,581 1,453 Cash costs1 1,301 1,300 1,285 1,320 1,288 1,187 1,214 1,286 1,517 1,579 1,451 AISC1 2,009 1,954 2,115 1,960 1,999 1,920 1,920 1,977 2,226 2,231 2,082 Per ounce of gold sold1 (US$) Average realized price1 3,228 3,523 3,279 2,882 2,433 2,678 2,508 2,333 2,093 1,948 1,994 Cost of sales 934 947 932 923 943 851 893 942 1,128 1,172 1,067 Cash costs1 930 944 929 920 940 848 890 940 1,125 1,170 1,065 AISC1 1,436 1,419 1,528 1,366 1,459 1,373 1,408 1,445 1,650 1,653 1,529 (1) Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of these non -IFRS measurements to the finan cial statements, which can be found in the Company’s Management Discussions and Analysis for the period ended September 30, 2 025 (2) Revenue include insignificant amounts from the sale of by-product silver 36
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Operational Highlights YTD 2025 Q3 2025 Q2 2025 Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FY 2023 Q4 2023 Ore milled (tonnes) Eagle River 180,208 71,575 48,623 60,010 222,526 60,358 57,984 52,552 51,632 228,777 54,669 Kiena 149,136 50,147 50,299 48,690 216,755 62,421 51,321 57,669 45,344 191,148 49,649 Throughput 329,344 121,722 98,922 108,700 439,281 122,779 109,305 110,221 96,976 419,925 104,318 Head grades (g/t Au) Eagle River 15.9 15.3 16.9 15.6 13.7 14.3 13.1 11.8 15.5 12.3 14.1 Kiena 10.6 10.2 10.7 10.8 11.2 11.5 13.1 13.5 5.9 5.9 7.7 Recovery (%) Eagle River 96.8 97.3 96.7 96.3 96.8 96.5 97.0 96.3 97.0 96.8 97.0 Kiena 98.8 98.7 98.8 98.9 98.9 99.1 99.0 99.0 98.2 98.3 98.5 Production (oz) Eagle River 88,907 34,296 25,612 28,999 94,561 26,702 23,688 19,272 24,899 87,979 24,072 Kiena 50,031 16,169 17,169 16,693 77,472 22,865 21,421 24,763 8,423 35,537 12,144 Total gold produced 138,938 50,465 42,781 45,692 172,033 49,567 45,109 44,035 33,322 123,336 36,216 Gold sales (oz) Eagle River 87,400 32,700 27,000 27,700 93,700 27,500 21,340 17,500 27,360 91,700 25,600 Kiena 51,200 14,700 18,900 17,600 73,600 21,200 21,560 22,500 8,340 34,920 12,020 Total gold sales 138,600 47,400 45,900 45,300 167,300 48,700 42,900 40,000 35,700 126,620 37,620 AISC1 (US$/oz) Eagle River 1,304 1,203 1,394 1,337 1,540 1,512 1,700 1,860 1,232 1,483 1,397 Kiena 1,663 1,899 1,720 1,412 1,357 1,191 1,119 1,123 3,023 2,100 1,811 Consolidated AISC 1,436 1,419 1,528 1,366 1,459 1,373 1,408 1,445 1,650 1,653 1,529 (1) Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of these non -IFRS measurements to the finan cial statements, which can be found in the Company’s Management Discussions and Analysis for the period ended September 30, 2 025 37
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Proven 738 13.7 324 309 18.3 182 Probable 2,870 9.3 857 2,447 12.0 943 Stockpile & Inventory 18 10.9 6 21 10.4 7 Total 3,626 10.2 1,188 2,778 12.7 1,131 Eagle River December 31, 2024 December 31, 2023 Tonnes (000s) Grade (g/t Au) Ounces (000s) Tonnes (000s) Grade (g/t Au) Ounces (000s) Proven 433 15.6 217 247 20.4 162 Probable 794 10.4 265 452 15.9 232 Stockpile & Inventory 8 17.8 5 17 11.3 6.0 Total 1,235 12.3 487 716 17.4 400 Mineral Reserve Estimate Mineral Reserve Estimate Proven 305 11.0 107 62 9.6 19 Probable 2,076 8.9 592 1,995 11.1 711 Stockpile & Inventory 10 5.6 2.0 4.0 6.9 1.0 Total 2,391 9.1 701 2,061 11.0 731 38 Kiena Wesdome Notes to Mineral Reserve Estimate 1. Mineral reserves are reported above with the following cut-off grades: • 4.53 g/t Au for Kiena Deep • 3.35g/t Au for Presqu’île • 3.95 g/t Au for Dubuisson • 5.14 g/t Au for Eagle River. 2. Mineral reserves demonstrated economic viability with the following parameters: • a gold price of $2,025 (US$1,500) per ounce for mineral reserves with a USD:CAD exchange rate of 1.35 • the minimum mining width used at Kiena is 2.0 m and Eagle River is 1.5 m • external dilution at Kiena varied from 0.25 m to 2.0 m for stope walls depending on the host rock type. At Eagle River, an additional 0.5 m to 0.75 m is external to the footwall and hanging wall stopes • a dilution grade is used outside the vein only at Eagle River at 0.16 g/t • a mining recovery factor of 90% is applied at Kiena and 95% at Eagle River • total cost per tonne at Kiena ranges from $240/t to $290/t, and $370/t at Eagle River • mill recovery is 97% and 98.5% for Presqu’île and Kiena Deep zones, respectively. At Eagle River, mill recovery is 97.7% • a bulk density factor of 2.8 tonnes per cubic metre at Kiena and 2.7 (t/m3) at Eagle River. 3. The Kiena Deep Zone incorporates, A, A1, A2, H1ZA, BZA1, and BZA2. 4. At Kiena, proven mineral reserves are classified from measured mineral resources when 50% of the tonnes/grade are confirmed by development. At Eagle River, proven and probable mineral reserves are based on the block model classification. 5. Mineral reserves are classified and have been estimated in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Standards”). 6. Mineral reserves have been depleted for mining as of December 31, 2024. 7. Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade, and metal content.
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Mineral Resource Estimate Mineral Resource Estimate 39 Eagle River December 31, 2024 December 31, 2023 Tonnes (000s) Grade (g/t Au) Ounces (000s) Tonnes (000s) Grade (g/t Au) Ounces (000s) Measured 250 11.6 93 201 10.8 70 Indicated 557 7.5 135 570 9.6 176 Total M&I 806 8.8 228 771 9.9 246 Inferred 2,749 2.6 229 2,858 3.8 349 Measured 308 11.3 112 253 10.1 82 Indicated 1,346 6.3 271 1,042 7.3 246 Total M&I 1,653 7.3 386 1,296 7.8 327 Inferred 5,285 3.8 640 6,071 4.8 928 Measured 58 10.2 19 52 7.0 12 Indicated 789 5.4 138 472 4.6 70 Total M&I 847 5.8 158 525 4.8 81 Inferred 2,536 5.0 411 3,213 5.6 579 Notes to Mineral Resource Estimate 1. Mineral resources are reported exclusive of mineral reserves; mineral resources that are not mineral reserves do not have demonstrated economic viability. 2. Mineral resources at Kiena and Eagle River are considered for underground extraction and include ore grade and waste material within potentially mineable volumes. Kiena's mineral resource is reported below the 100 m crown pillar. 3. Eagle River inferred resources include a Mishi open pit inventory of 120koz at 1.6 g/t constrained within a conceptual pit design. 4. A bulk density factor of 2.8 tonnes per cubic metre (t/m3) was applied at Kiena and 2.7 tonnes per cubic metre (t/m3) at Eagle River and Mishi. 5. Resources at Kiena are reported using a cut-off grade of: • 3.14 g/t Au for Kiena Deep • 2.97 g/t Au at S50, VC, B and K109 zones • 2.52 g/t Au at Presqu’île • 2.62 g/t Au at Dubuisson • 2.42 g/t Au for Martin and Wish zones • 3.2 g/t Au at Northwest, South, and Wesdome zones. 6. The cut-off grade for resources reported at Eagle River mine was 4.38g/t and 0.52g/t at Mishi. 7. Economic parameters for the determination of the resource cut-off grade for Kiena include: • a gold price of $2,430 (US$1,800) per ounce, a USD: CAD exchange rate of 1.35 • cost per tonne of $190/t milled for Presqu’île, $197/t milled for Dubuisson, and $240/t milled at Kiena Deep • 98.5% mill recovery for Kiena Deep; 97.0% for Presqu’île and Dubuisson 8. Economic parameters for the determination of the cut-off grade for Eagle River include: • a gold price of $2,295 (US$1,700) per ounce, a USD/CAD exchange rate of 1.35 • cost per tonne of $299/t milled • 97.7% mill recovery • royalty of 2% • Mishi resources remain unchanged from December 31, 2023. 9. Mineral resources are classified and have been estimated in accordance with the CIM Standards. 10. As required by reporting guidelines, rounding may result in apparent summation differences between tonnes, grade, and metal content. Kiena Wesdome
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Non-IFRS Performance Measures Wesdome uses non-IFRS performance measures throughout this presentation as it believes that these generally accepted industry performance measures provide a useful indication of the Company’s operational performance. These non-IFRS performance measures do not have standardized meanings defined by IFRS and may not be comparable to information in other gold producers’ reports and filings. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The non-IFRS performance measures include: • Average realized price of gold sold • All-in sustaining costs per ounce of gold sold • Free cash flow, free cash flow per share, free cash flow per ounce and free cash flow margin For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Performance Measures” in the Company’s latest MD&A for the period ended September 30, 2025. 40
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Investor Relations Raj Gill SVP, Corporate Development & Investor Relations Trish Moran VP, Investor Relations Phone: +1 (416) 564-4290 Email: trish.moran@wesdome.com TSX: WDO | OTCQX: WDOFF Careers @Wesdome Gold Mines Corporate Head Office 220 Bay St, Suite 1200 Toronto, ON M5J 2W4