Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Q3 2026 Earnings Presentation
15 slides from Eldorado Gold's earnings presentation, Oct 29, 2026
Slide 1: Q3 2026 Results Conference Call
Q3 2026 RESULTS CONFERENCE CALL October 29, 2026 Skouries Inauguration Event
Slide 2: Forward Looking Statement
Forward Looking Statement 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 28, 2026 of Eldorado Gold Corporation for the three and nine months ended Septem
Slide 3: Non-IFRS Measures
Non-IFRS Measures 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 befor
Slide 4: Participants and Agenda
Participants and Agenda Christian Milau President & CEO Q3 OVERVIEW & SKOURIES Paul Ferneyhough FINANCIAL RESULTS & CAPITAL EVP, Strategy & CFO ALLOCATION Simon Hille MCILVENNA BAY & OPERATIONS EVP & COO 3
Slide 5: Q3 2026 Operating Highlights
Q3 2026 Operating Highlights First concentrate at Skouries, ramp-up progress and revised 2026 guidance THIRD QUARTER 2026 HIGHLIGHTS UPDATED 2026 GUIDANCE • Skouries achieved first copper-gold concentrate on Operating mines (excluding Skouries and McIlvenna Bay) September 8 Gold production: 410–430
Slide 6: Skouries: First Concentrate and Ramp-Up
Skouries: First Concentrate and Ramp-Up First copper-gold concentrate on September 8 | Commercial production expected in late Q4 2026 COMMISSIONING AND OPERATIONAL PROGRESS • Process plant substantially complete and operating. Optimization and performance testing continue across the circuit. • Two o
Slide 7: Financial and Operational Results: Q3 2026
Financial and Operational Results: Q3 2026 ($millions unless otherwise noted) Q3 2026 Q3 2025 YTD 2026 Key Metrics Gold produced (oz) 106,351(4) 115,190 311,325(4) Gold sold (oz) 107,164 116,529 310,474 Revenue 511.9 434.7 1,531.7 Average realized gold price ($/oz sold)(1) 4,326 3,527 4,527 Producti
Slide 8: Q3 2026 Financial Position and Capital Allocation
Q3 2026 Financial Position and Capital Allocation TOTAL LIQUIDITY1 CASH & EQUIVALENTS1 AVAILABLE FACILITY2 ~$672 M ~$397 M ~$275 M CAPITAL STRUCTURE RETURNS TO SHAREHOLDERS Senior credit facility2 QUARTERLY DIVIDEND BUYBACKS (YTD 2026) $600M facility: $325M drawn and $275M available 7.5¢ per share ~
Slide 9: McIlvenna Bay: Ramp-Up and District Growth
McIlvenna Bay: Ramp-Up and District Growth Commercial production expected in late Q4 2026 RAMP-UP PROGRESS • Copper, zinc and pyrite flotation circuits fully commissioned with concentrate production underway. • SAG and ball mill throughput continues to increase. • Current priorities include solid-li
Slide 10: Lamaque Complex
Lamaque Complex Strong mill performance and Ormaque contribution support production growth 52,748 oz $897/oz $1,436/oz Q3 GOLD PRODUCTION Q 3 T O T AL C AS H C O S T ( 1 ) Q 3 AI S C ( 1 ) Q3 2026 HIGHLIGHTS • Production: Strong mill performance, higher head grade and recoveries, including the contr
Slide 11: Kışladağ
Kışladağ Higher-grade stacking underway, with production benefits expected in late Q4 and 2027 22,713 oz $2,328/oz $2,832/oz Q3 GOLD PRODUCTION Q 3 T O T AL C AS H C O S T ( 1 ) Q 3 AI S C ( 1 ) Q3 2026 HIGHLIGHTS • Production: Lower planned grades associated with the current cutback and slower-than
Slide 12: Efemçukuru
Efemçukuru Consistent throughput and continued development at Kokarpinar 17,073 oz $1,928/oz $2,313/oz Q 3 P AY AB L E P R O D U C T I O N Q 3 T O T AL C AS H C O S T ( 1 ) Q 3 AI S C ( 1 ) Q3 2026 HIGHLIGHTS • Production: Lower grades partly offset by strong throughput and recoveries. • Costs: AISC
Slide 13: Olympias
Olympias 650 ktpa expansion ramp-up to nameplate capacity expected in H1 2027 13,430 oz $96.7M $2,067/oz Q3 GOLD Q3 REVENUE (VS Q 3 AI S C PRODUCTION Q3 2025 $65.8M) Q3 2026 HIGHLIGHTS • Production: Lower gold grades partly offset by higher throughput, a stable ore blend and improved recoveries. • E
Slide 14: Closing Remarks
Closing Remarks Safe execution, capital discipline and stronger cash flow Q3 2026 WRAP UP • Skouries achieved first concentrate and McIlvenna Bay continued ramp-up. Both expect commercial production in late Q4. • Operating portfolio generated meaningful production in a strong gold price environment.
Slide 15: Eldorado Gold Continuing to Deliver Value Creation
fe & Sustainable Operation Sa s 80% increase in Robust balance GEO production sheet to fully fund by 2027 from our growth 2025 initiatives Eldorado Gold Increasing On track to production, become one of Continuing to Deliver disciplined cost control, strong the EU’s largest copper producers metal pri