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Eldorado Gold Corp /Fi — DOWNLOAD PDF (company IR deck)
Eldorado Gold Corp /Fi (EGO) · 71 slides · Filed Oct 28, 2026
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Slide 1 — PRESENTATION
INVESTOR PRESENTATION OCTOBER 2026 Skouries, Greece
Slide 2 — Forward Looking Statement
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 July 30, 2026 of Eldorado Gold Corporation for the three and six months ended June 30, 2026 (the “MD&A”). Photos shown within the presentation were taken as recently as September 26, 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 “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “estimate”, “expect”, “forecast”, “foresee”, “future”, “goal”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “potential”, “project”, “prospective”, “schedule”, “strive”, or “target” or the negatives thereof or variations of such words and phrases or similar words 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 is not limited to, statements or information with respect to: our expected production for 2027; our average mine life and expected life of mine; our expectation on the re-rating potential of the Company; our expectation on upcoming catalysts to drive re-rating potential, and expected timing thereof; expectations with respect to the Company’s exploration portfolio; expected gold production growth from 2025 to 2028; 2026 guidance for the operating sites, Skouries and McIlvenna Bay, including production profiles, total cash costs, AISC, growth capital, and sustaining capital; consensus price to net asset value ratio and consensus enterprise value to EBITDA ratio (estimated for 2026); our beliefs regarding our growth pipeline, financial strength, attractive valuation, and sustainability, and expected benefits thereof; future shareholder returns through dividends and a normal course issuer bid; our focus on maintaining a strong financial position and flexibility to fund our growth initiatives; in relation to the Skouries Project, timing of first concentrate production and commercial production, expected average gold production forecast, expected benefits of the project to the Company overall, expected mine life and average annual production (gold and gold equivalent), expected progress of construction, commissioning, energization, underground and open pit mining, life of mine economics, expected reclamation activity and strategy, and reductions in the letter of credit backstopping the equity commitment for the Skouries Project; in relation to the Lamaque Complex, our expectations regarding exploration upside, including resource base and strategic land positions; expansion studies of Sigma Mill to increase throughput to 5,000 tpd, our belief of capital investments to support long-term growth, and expected ramp-up of Ormaque development; in relation to McIlvenna Bay, expected commercial production and timing thereof, expected inaugural resource on the Tesla Zone and timing thereof, expected ramp-up and steady state operations, expected average life of mine production, resource base, exploration upside, expansion potential and district growth, expectations of a study to evaluate an expansion of the processing facility and benefits thereof, and expected commissioning of the silver-lead circuit and broader expansion and timing thereof; in relation to Kisladag, expected whole ore agglomeration including the timing and benefits thereof, expected timing and benefits of the installation of a larger secondary crusher, benefits of the geometallurgical study and expected financial evaluation and related investment decisions, and expectations of the waste-stripping campaign to support future capacity and resource upside; in relation to Efemcukuru, expectations regarding consistent production and continuous improvement; in relation to Olympias, expectations of increased mining rates, our focus on growth, including productivity, efficiency and reliability improvements and expansion of processing plant capacity, and our expected ramp-up in Q1 2027; in relation to Perama Hill, expectations of advancing through permitting, community consultations and technical studies, contingent timing of construction, expected exploration, development and growth potential, and expected mine life and annual production; expected 2026 exploration program for Quebec, Saskatchewan, Greece, and Turkiye as well as the 2026 exploration budget; our beliefs of large, under-explored claims in Saskatchewan; our expectations of the growth potential of the Tesla Zone; our expectations that the Stratoni Skarn is an emerging gold-copper system; and expectations regarding resource conversion, resource expansion, new discovery drilling, exploration targets, organic growth, discovery opportunities and long-term value creation; Eldorado’s GHG emissions mitigation target, target achievement pathway and climate change strategy; Eldorado’s hedge portfolio; Eldorado’s sustainability commitments and inclusive diversity commitments; forward-looking non-IFRS measures; and generally our strategy, plans, goals and priorities. Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance, or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: timing, costs and results of our construction and development activities, improvements and exploration, including at the Skouries Project, the McIlvenna Bay Project and our other operating mines and development projects; the current or future price of gold, copper and other commodities; the availability of financing for our exploration, development and operating activities and our ability to access existing project funding and remain in compliance with all covenants and contractual commitments related thereto; the geopolitical, economic, permitting and legal climate that we operate in, including recent disruptions to shipping operations in the Strait of Hormuz and Red Sea and any related shipping delays, shipping price increases, or impacts on the global energy market; availability of labour resources, including for construction, development and improvements activities; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom; general business and economic conditions, including interest rates, inflation, commodity and power prices, credit and financial market conditions and the impact of foreign exchange rates and tax rates and related frameworks; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to develop, finalize and execute on our updated five-year strategic plan through 2030; acts of governments and the outcome of any legal or regulatory proceedings or other disputes that we may be involved in; our ability to continue to make purchases under our normal course issuer bid and to pay dividends; the impact of acquisitions, dispositions, suspensions or delays on our business; our ability to manage and mitigate the risks associated with our use of technology and artificial intelligence; the expected vesting and redemption outcomes under our compensation securities; 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 effectiveness of our hedging programs; and our ongoing relations with regulators, communities, and our partners. More specifically, with respect to the Skouries Project and updates, we have made additional assumptions regarding: our ability and our contractors’ ability to recruit and retain labour resources within the required timeline; labour productivity, rates, and expected hours; inflation rates; the expected scope of project management frameworks; our ability to continue executing our plans relating to the Skouries Project on the estimated existing project timeline and consistent with the current planned project scope; the timeliness of shipping for important or critical items; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; our ability to obtain and maintain all required approvals and permits, both overall and in a timely manner; our ability to obtain the requisite inspections and approvals for energization of the power supply from the power authority in a timely manner; the absence of further previously unidentified archaeological discoveries which would delay construction of various portions of the project; the future price of gold, copper, and other commodities; and the broader community engagement and social climate in respect of the Skouries Project. In addition, except where otherwise stated, we have 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 statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control. Forward-looking statements or information contained in this presentation are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; construction and development risks at the Skouries Project, the McIlvenna Bay Project and our other construction and development projects; changing political, economic and social conditions, including changes in governments or political systems, ongoing market uncertainty and global or regional geopolitical events, conflicts or disruptions; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom on the timelines expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to obtain reliable 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, including risks from volatility and inflationary pressures as a result from the ongoing international conflict in Iran; inflation risk; risks related to fluctuations in the currency markets, including the Euro, Turkish lira, Canadian dollar and United States dollar; community relations and social license; environmental matters; geotechnical and hydrogeological structures, conditions or failures, including our ability to completely understand such structures and to mitigate such conditions or failures at a reasonable cost or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licenses and other authorizations; non-governmental organizations; reputational issues; climate change, including risks related to forest fires and water management; water collection, treatment and disposal operations at our mines, including the ability to manage unexpectedly large quantities of water; risk of spills or failure from our tailings operations (including circumstances beyond our control such as extreme weather, seismic events, prolonged droughts or heavy rainfall); environmental risks from our heap leaching operations, including hazardous materials management of our use of cyanide; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of Mineral Reserves; 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 all in sustaining costs, including in relation to the market price of gold and the Company’s profitability; 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 risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates and contractors, reclamation and long-term obligations); turnover and attrition rates of labour, and related impacts thereto; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks related to title and surface rights; risks relating to environmental, sustainability, health and safety, and governance matters; technology and cybersecurity risks; corruption, bribery, and sanctions; litigation and contracts; conflicts of interest; compliance with applicable laws, legislation and regulations; dividends; tariffs and other trade barriers; and those risk factors discussed in the section titled “Managing Risk” above, as well as those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations. With respect to the Skouries Project, these risks, uncertainties and other factors may cause further delays in the completion of the construction and commissioning at the Skouries Project which in turn may cause delays in the commencement of production, and further increase to the costs of the Skouries Project. The specific risks, uncertainties and other factors include, among others: our ability, and the ability of our construction contractors to recruit the required number of personnel (both skilled and unskilled) with required skills within the required timelines, and to manage changes to workforce numbers through the construction of the Skouries Project; our ability to recruit personnel having the requisite skills, experience, and ability to work on site; our ability to efficiently manage the transitions from construction to commission to operations; our ability to increase productivity by, among other things, adding or modifying labour shifts; rising labour costs or costs of key inputs such as materials, power and fuel; risks related to any unanticipated critical equipment defects or failures during the commissioning and ramp-up of operations; risks related to third-party contractors, including reduced control over aspects of the Company's operations, and/or the ability of contractors to perform at required levels and according to baseline schedules and any commercial disputes that may arise from a contractor’s failure to meet these requirements; the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality; impacts to overhead costs related to the schedule; our ability to construct key infrastructure within the required timelines, including the process plant, filter plant, substation, waste management facilities, embankments, tailings conveyors, water management infrastructure, and control centre; the timely receipt of necessary permits and authorizations; differences between projected and actual degree of pre-strip required in the open pit; variability in metallurgical recoveries and concentrate quality due to factors such as extent and intensity of oxidation or presence of transition minerals; presence of additional structural features impacting hydrological and geotechnical considerations; variability in minerals or presence of substances that may have an impact on filtered tails performance and resulting bulk density of stockpiles or filtered tails; distribution of sulfides that may dilute concentrate and change the characteristics of tailings; unexpected disruptions to operations due to protests, non-routine regulatory inspections, road conditions, or labour unrest; unexpected inclement weather and climate events, including wildfires, short and long duration rainfall and floods and other extreme weather events; our ability to meet pre-commercial producing mining or underground development targets; unexpected results from underground stopes; new archaeological discoveries requiring the completion of a regulatory process; changes in support from local communities; and our ability to meet the expectations of communities, governments, and stakeholders related to the Skouries Project. Our project capital and accelerated operational capital costs at Skouries are incurred primarily in Euros but are reported in U.S. dollars and are therefore sensitive to fluctuations in the EUR/USD exchange rate. 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. 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. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. 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.
Slide 3 — Non-IFRS Measures
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, averaged realized gold price per ounce sold, EBITDA, Sustaining capital expenditure, Growth capital expenditure, and free cash flow excluding Skouries & McIlvenna Bay. 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 30 in the MD&A that will be available on SEDAR+ at http://www.sedarplus.com, on EDGAR at www.sec.gov, and on the Company’s website under the ‘Investors’ section. The most directly comparable IFRS financial measures and results from the quarter ended June 30, 2026, and year ended December 31, 2025 are below. Non-IFRS Measure Most Directly Comparable IFRS Measure Q2 2026 FY 2025 Total cash costs Production costs $184.8 M $677.6 M AISC Average realized gold price per ounce sold Revenue $487.5 M $1,818.9 M EBITDA Earnings from continuing operations before income tax $227.2 M $544.3 M Adjusted EBITDA Adjusted net earnings/(loss) Net earnings attributable to shareholders of the Company from continuing operations $172.8 M $519.9 M Adjusted net earnings/(loss) per share Cash flow from operating activities before changes in working capital Net cash generated from operating activities of continuing operations $149.5 M $742.5 M Free cash flow Free cash flow excluding Skouries and McIlvenna Bay Sustaining capital expenditures Additions to property, plant and equipment(1) $441.3 M $978.9 M Growth capital expenditures (1) Presented on an accrual basis. Excludes property, plant and equipment acquired in the Foran acquisition and asset retirement adjustments.
Slide 4 — Lamaque Complex, CANADA
Lamaque Complex, CANADA Kışladağ, TÜRKIYE ⚫ Production ⚫ Development HEAD OFFICE Vancouver, Canada European Regional OFFICE Amsterdam, Netherlands Efemçukuru, TÜRKIYE Eldorado Gold Overview (1) Using street consensus pricing of US $4,722/oz Au, $71.31/oz Ag, $2,006/t Pb, $3,109/t Zn, $5.76/lb Cu). (2) Average mine life based on current Mineral Reserves. (3) Skouries and McIlvenna Bay expected to achieve commercial production in Q4 2026. McIlvenna Bay(3), CANADA Olympias, GREECE Perama Hill, GREECE Skouries(3), GREECE Operations 6 CANADA GREECE TÜRKIYE MINING FRIENDLY JURISDICTIONS 3 Reserve Life(2) 13+ 880 koz 2027E GEO(1) 15% Copper Exposure
Slide 5 — Cash flow inflection point
The Investment Case 4 Priced for yesterday’s risk, not today’s execution 3 Cash flow inflection point 1 Peer-leading growth profile with long mine life assets 2 Focused on execution 4 Increasing shareholder returns 5 Funded internal growth with outstanding exploration potential
Slide 6 — Peer-Leading Growth
Peer-Leading Growth Strong growth and cash flow drive clear re-rating potential (1) Actuals based on 2025 financial reports at average realized commodity prices (2) 2027 based on mid-point of Eldorado guidance and the “Technical Report on the McIlvenna Bay Project, Saskatchewan, Canada” filed under Eldorado’s name on June 8, 2026, with an effective date of March 12, 2025, at consensus pricing. (3) Free cash flow & EBITDA are street consensus estimates as per FactSet (September 23, 2026) Production (koz GEO)(1,2) Consensus EBITDA(3) Consensus Free Cash Flow(3) 5 519 880 2025A 2027E ($0.2)B $1.2B 2025A 2027E $0.8B $2.6B 2025A 2027E
Slide 7 — 650ktpa
Exceptional Internal Growth Building value through internally funded organic growth (1) Based on Proven and Probable Mineral Reserves as of September 30, 2025. Please refer to the advisories in the appendix for more information on the Mineral Reserves and Mineral Resources. For more information, please find the latest Technical Report for each of Eldorado’s assets and the Resources and Reserves page on the Eldorado Gold website. OPTIMISE H1 2027 Kışladağ whole ore agglomeration Q4 2026 Kışladağ secondary crusher 650ktpa Olympias throughput +30% EXPAND 7,000tpd McIlvenna Bay throughput expansion +43% 5,000tpd Lamaque Complex – staged expansion 2,900 3,500 5,000 tpd Q4 2026 Tesla Zone inaugural Inferred Mineral Resource BUILD Our next mine · EIA submitted Perama Hill ~100 koz GEO per year 8 yrs reserve life(1) 3.18 g/t Au grade 6
Slide 8 — ~110
3-year gold production growth profile Gold production growing ~40% by 2028 ● Copper production commenced in 2026 GOLD PRODUCTION (KOZ)1,2 COPPER (M LBS)3 ~110 Life of Mine Average Annual Production Skouries & McIlvenna Bay KEY DRIVERS Skouries & McIlvenna Bay ramp-up Gold + copper production starting 2026 Existing operations Stable production base, growth optimization initiatives underway 0 200 400 600 800 2025A 2026E 2027E 2028E Gold (Koz) Kışladağ Lamaque Efemçukuru Olympias Skouries: Gold +40% gold growth (1) Production includes pre-commercial production from Skouries for 2026. (2) Production shown at mid-point of guidance range as released on February 19, 2026 - does not include McIlvenna Bay. (3) Based on most recent Technical Reports for Skouries and McIlvenna Bay. 7
Slide 9 — 495–600 koz
2026 Guidance – Existing Operations + Skouries & McIlvenna Bay TOTAL GOLD1 495–600 koz COPPER (NEW) 1 25–50 M lbs AISC (CONSOLIDATED)2 $1,670–1,870 /oz 8 EXISTING OPERATIONS4 Gold production 430–490 koz Total cash costs2 $1,220–1,420/oz AISC2 $1,670–1,870/oz Sustaining capital2 $140–165 M Growth capital2 $375–405 M Exploration $75–85 M SKOURIES3,5 Gold production1 60–100 koz Copper production1 20–40 M lbs AISC2 ($100)–$200/oz Project capital1,5 ~$335 M Accelerated operational capital1,5 ~$167 M Post commercial growth capital2 $35–45 M Sustaining capital2 $20–35 M (1) Production includes pre-commercial production from Skouries and McIlvenna Bay. (2) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (3) Skouries AISC, growth capital and sustaining capital post commercial production (expected in Q4). (4) At existing operations at time of guidance (February 19, 2026), does not include McIlvenna Bay.(5) Reflects updated Capital Cost estimate and Accelerated Operational Capital at Skouries, and increased exploration spending as announced on April 30, 2026. (6) Production includes pre-commercial production from McIlvenna Bay. (7) Relates to completion of the paste plant, water treatment plant, underground development and process optimization, together with additional scope and the final commissioning and ramp-up activities required to support commercial production. (8) Comprised of $78M (Q2 2026 actual) and guidance of $90M for the balance of 2026. MCILVENNA BAY6 Copper production6 5–10 M lbs Zinc production6 3–6 Kt Gold production6 5–10 koz Silver production6 100–200 koz Project capital7,8 ~$168 M Post commercial growth capital2 $15–20 M Sustaining capital2 $20–55 M
Slide 10 — $855M
(1) As per the Consolidated Q2 2026 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. (3) As of June 30, 2026, Eldorado had $450M of total capacity on its Senior Secured Credit Facility with a maturity date of June 27, 2028. (4) As of September 24, 2026. (5) Expected dividend as announced on January 22, 2026. Solid Financial Position TOTAL LIQUIDITY(1,2) $855M CASH & EQUIVALE\NTS(1) $555M AVAILABLE FACILITY(3) $300M 9 $1.7B gross debt(1) $11B market cap(4) RETURNS TO SHAREHOLDERS $80M $0.075 per share/quarter(5) $307M buybacks 2025 & H1 2026(1)
Slide 11 — 7,000 tpd
Near-Term Catalysts 10 EXECUTION GROWTH 2026 2027 2028 2030+ MCILVENNA BAY Silver-lead circuit(1) MCILVENNA BAY 7,000 tpd +43% throughput LAMAQUE 5,000 tpd Staged expansion McIlvenna Bay commercial production Skouries commercial production Tesla Zone inaugural Inferred Mineral Resource Kışladağ secondary crusher upgrade Olympias expansion to 650 ktpa Kışladağ agglomeration Capital returns (1) Part of the McIlvenna Bay expansion study currently underway
Slide 12 — Skouries
Skouries 11 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. (3) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. (4) Ounces contained in Measured & Indicated Resources is inclusive of the ounces contained in Proven & Probable Reserves. OVERVIEW Location Halkidiki Peninsula, Greece Deposit type Copper-gold 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 Q3 with commercial production in Q4 2026 Contained metal in Proven & Probable Reserves(3) 3.7 Moz Au 741 kt Cu Contained metal in Measured & Indicated Resources(3,4) 4.6 Moz Au 989 kt Cu Europe ADVANCING SKOURIES • €680 M financing package (and an additional cost overrun facility) secured for the development of Skouries fully drawn • C$81.5 M strategic investment by EBRD • First Cu-Au concentrate production achieved in September 2026 and commercial production targeted for Q4 2026 LIFE OF MINE (LOM) EXPECTED ANNUAL PRODUCTION (2) 140,000 oz gold 67M lbs copper 320,000 gold equivalent oz
Slide 13 — First Copper-Gold
Skouries 12 First concentrate production produced in September 2026 ● Commercial production in Q4 2026 Aerial view – Skouries First Copper-Gold concentrate achieved COMMISSIONING • Majority of the site’s electrical distribution network has been energized using temporary power, enabling the testing and commissioning of equipment prior to startup • Concentrator, thickening in hot commissioning • Filter tailings, conveyance are in construction and pre-commissioning MINING — OPEN PIT • Ahead of plan with 4 crews operational • Stockpiles on surface(1,2) : 4.6 Mt stockpile containing ~162 koz Au & ~55 Mlbs Cu • Phase 1 grade control drilling complete MINING — UNDERGROUND • 3,524 m developed in H1 2026 • Advance rates accelerating, with ~900 m in May, ahead of 700 m/month target • Completed 2nd test stope; Drilling of 3rd test stope commenced (1) As of August 30, 2026. (2) Stockpile material is classified as Proven Mineral Reserves with 1,200 kt at 1.09 g/t Au and 0.54% Cu, containing 162 koz Au and 55 Mlbs Cu.
Slide 14 — Skouries: Transitioning from Construction to Operations
Skouries: Transitioning from Construction to Operations 13 Construction project capital invested since restart of construction to June 30, 2026: $1.27 billion Main sub-station E-house and temporary genset Q2 2026 HIGHLIGHTS • Q2 2026 project capital: $154.6 M • Q2 2026 accelerated operational capital: $59.6 M View from transfer tower
Slide 15 — August 2026
14 Skouries Progress: August 2026
Slide 16 — Crusher Building & Coarse Ore Stockpile
Crusher Building & Coarse Ore Stockpile 15 The primary crusher successfully crushed first ore in July 2026. Stockpile dome, ancillary feeders, and associated chute work complete and ready for full operations. Primary crusher overview. Photo insert – Feed pocket Dome and reclaim feeder, and SAG feed conveyor
Slide 17 — Process Plant
Process Plant 16 Plant is substantially complete, with grinding, flotation, tailings thickening, concentrate thickening, concentrate filtration and final concentrate bagging systems operating successfully. Feeding ore to SAG Mill Photo captions (L-R): Concentrate filter press; concentrate flotation, flotation cells (below).
Slide 18 — Filtered Tailings Plant
Filtered Tailings Plant 17 Work progressing with electrical installations and commissioning as the final steps. Filtered tailings plant overview Filtered tailings conveyor installations
Slide 19 — McIlvenna Bay
McIlvenna Bay 18 Underground copper-zinc-gold-silver project located in East-Central Saskatchewan OVERVIEW Location Saskatchewan, Canada Ownership 100% Mine type Underground Products produced Copper, Zinc, Gold, Silver Processing method Milling followed by a leach and CIP Deposit type VMS Production target Commercial production Q3 2026 Life of mine 18 years based on Mineral Reserves(1) RESERVES AND RESOURCES(1) ADVANCING MCILVENNA BAY • First copper and zinc concentrates achieved • Commercial production expected in Q3 2026 • Study underway to unlock further value (1) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. Historical reports related to mineral reserve and mineral resource for McIlvenna Bay can be found on sedarplus.ca under Foran Mining profile. Reserves Resources (Indicated) Resources (Inferred) Tonnes (Mt) 29.7 38.6 4.5 Cu (%) 1.21 1.19 0.93 Zn (%) 2.17 2.18 2.60 Au (g/t) 0.44 0.41 0.28 Ag (g/t) 14.4 14.40 15.80 CuEq (%) 2.51 2.02 1.77
Slide 20 — McIlvenna Bay: Ramp-Up, Expansion Potential and District Growth
McIlvenna Bay: Ramp-Up, Expansion Potential and District Growth 19 Ramping up towards commercial production • McIlvenna Bay marked a key milestone: first copper and first zinc concentrate produced 65,398 lbs of copper concentrate produced Commercial production expected in Q3 2026 • Study underway to potentially unlock further value: Expansion to 7,000 tpd (from 4,900 tpd) Silver-lead circuit Targeting silver-lead circuit commissioning in 2028 and broader expansion in 2030, subject to approvals and positive investment decision. • High-quality, long-life, polymetallic growth platform: significant exploration upside and near-term growth, adding copper exposure in a stable, top-tier mining jurisdiction. 18-year mine life Average LOM production of 41M lbs copper, 54M lbs zinc, 20 koz gold and 444 koz silver. McIlvenna Bay - Aerial
Slide 21 — McIlvenna Bay Site Layout
McIlvenna Bay Site Layout 20 Filtered Tailings Area
Slide 22 — McIlvenna Bay: Ramping Up to Commercial Production
McIlvenna Bay: Ramping Up to Commercial Production 21 Tailings filtration Inside the process plant Flotation cells Ore on the conveyor
Slide 23 — Underground 2026 – Long Section Looking South
Underground 2026 – Long Section Looking South 22 Mine on track to ramp up to steady state and well prepared for mill ramp up
Slide 24 — Lamaque Complex
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 followed by a leach and CIP Deposit type Orogenic gold veins Life of mine 8 years based on Mineral Reserves (through to 2033) 2025 Production & AISC 187,208 ozs at $1,302/oz sold AISC(1,3) 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) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (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.
Slide 25 — Lamaque Complex
Lamaque Complex 24 Higher throughput and Ormaque contribution supported production growth, Sigma Mill expansion evaluation advancing (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) Includes production from Ormaque. 52,340 oz Q2 GOLD PRODUCTION $865/oz Q2 TOTAL CASH COST (1) $1,192/oz Q2 AISC (1) Q 2 2 0 2 6 H I G H L I G H T S • Q2 production: Supported by higher throughput, strong mill performance and Ormaque operating authorization. • Costs: Disciplined cost control. • Capital investment supporting long-term growth, including Ormaque development, paste plant construction, north basin water management and Triangle ramp development. H1 2026 2026 Guidance Gold production (oz) 94,646 185,000 – 200,000(2) Total cash costs ($/oz)(1) 884 790 – 990 AISC ($/oz)(1) 1,276 1,160 – 1,360 Sustaining capital ($M)(1) 36.3 70 – 80 Growth capital ($M)(1) 66.1 180 – 190 Eldorado Gold Québec receives the F.J. O’Connell Trophy (2025) in the category Underground Operations – 400,000 hours and over
Slide 26 — Lamaque Complex: Advancing Ormaque
Lamaque Complex: Advancing Ormaque 25 Ramping up Ormaque Development Following Receipt of Operating Authorization Map showing location of Ormaque deposit relative to existing underground development and infrastructure. Ormaque vein
Slide 27 — Kışladağ
Europe Kışladağ 26 Kışladağ is a low-grade, bulk-tonnage, open pit operation that uses heap leaching for gold recovery 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 & AISC 168,701 ozs produced at $1,478/oz sold AISC(1) ENHANCING EFFICIENCIES • Decision made to proceed with whole ore agglomeration Expected to enhance permeability, improve kinetics and shorten the leach cycle Installation of agglomeration drums expected in 2027, with long-lead items ordered in Q4 2025 • Secondary crusher 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 completed for characterization of future mining phases with the financial evaluation underway. 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 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves.
Slide 28 — Kışladağ
Kışladağ 27 Executing a major waste-stripping campaign that supports future capacity and resource upside (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. 19,108 oz Q2 GOLD PRODUCTION $2,050/oz Q2 TOTAL CASH COST (1) $2,407/oz Q2 AISC Q 2 2 0 2 6 H I G H L I G H T S • Q2 production: Fewer tonnes and lower stacked grade, as planned, while accelerating waste removal from phase 6 and the western area. • Costs: Impacted by higher royalty rates, fewer ounces, and higher costs such as labour and maintenance. • Optimization underway: Evaluating a $1,700 → $2,100 pit shell to potentially open the western area and support resource expansion. • Whole ore agglomeration project remains on track, with commissioning and ramp- up expected in H1 2027. • Geometallurgical study completed, resulting in increased confidence in grade, ore classifications and recovery variability; additional screening investment decision expected before year-end. H1 2026 2026 Guidance Gold production (oz) 47,447 105,000 – 130,000 Total cash costs ($/oz)(1) 1,958 1,830 – 2,080 AISC ($/oz)(1) 2,201 2,100 – 2,350 Sustaining capital ($M)(1) 9.0 25 – 30 Growth capital ($M)(1) 83.8 130 – 140 Open pit at Kışladağ (1)
Slide 29 — Efemçukuru
Efemçukuru 28 High-grade underground operation located in Izmir Province in western Türkiye OVERVIEW Location İzmir Province, Türkiye Ownership 100% Mine type Underground Metals mined Gold Deposit type Epithermal gold Processing method Flotation to produce gold concentrate Life of mine 8 years based on Mineral Reserves (through to 2033) 2025 Production & AISC 72,482 ozs produced at $1,846/oz sold AISC(1) 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 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves.
Slide 30 — Efemçukuru
Efemçukuru 29 Reliable Production, Consistent Performance (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. 18,019 oz Q2 PAYABLE PRODUCTION $1,926/oz Q2 TOTAL CASH COST (1) $2,252/oz Q2 AISC (1) Q 2 2 0 2 6 H I G H L I G H T S • Q2 payable production: Lower grade, partly offset by higher throughput. • Costs: Impacted by higher royalties and fewer ounces sold. • Sustaining capital focused on underground development and equipment rebuilds. • Growth capital supported Bati and Kokarpinar development, including portal development, water pond construction and mine rock storage infrastructure. H1 2026 2026 Guidance Gold production (oz) 33,413 70,000 – 80,000 Total cash costs ($/oz)(1) 2,053 1,680 – 1,880 AISC ($/oz)(1) 2,377 2,010 – 2,210 Sustaining capital ($M)(1) 10.3 20 – 25 Growth capital ($M)(1) 8.2 25 – 30 Underground at Efemçukuru
Slide 31 — Olympias
Olympias 30 Carbonate replacement style deposit with high gold grades and an orebody that will allow for increased mining rates OVERVIEW Location Halkidiki Peninsula, Greece Ownership 100% Mine type Underground Metals mined Gold, Silver, Lead, Zinc Processing method Milling followed by flotation Commercial production 2017 Life of mine 16 years based on Mineral Reserves (through to 2041) 2025 Production & AISC 59,877 ozs produced at $2,145/oz sold AISC(1) 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 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves.
Slide 32 — Olympias
Olympias 31 Expansion investment supports the next phase of growth, with ramp-up expected in Q1 2027 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. 15,125 oz Q2 GOLD PROD $98.6M Q2 REVENUE (VS $65.9) $2,465/oz Q2 AISC Q 2 2 0 2 6 H I G H L I G H T S • Production: Olympias has delivered three consecutive quarters of operational stability, with recoveries back to modelled levels. • Costs: Impacted by higher royalties and direct operating costs, partly offset by higher by-product credits. • Revenue increased significantly to $98.6M, up from $65.9M (Q2’25), driven by higher realized gold prices despite lower ounces sold. • Expansion to 650ktpa from 500ktpa, expected to be completed by the end of 2026, ramp-up anticipated in Q1 2027. H1 2026 2026 Guidance Gold production (oz) 29,444 70,000 – 80,000 Total cash costs ($/oz)(1) 1,788 1,030 – 1,230 AISC ($/oz)(1) 2,267 1,370 – 1,570 Sustaining capital ($M)(1) 12.2 25 – 30 Growth capital ($M)(1) 22.3 40 – 45 Verti-mill installation works
Slide 33 — Perama Hill
Perama Hill 32 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
Slide 34 — Perama Hill
Perama Hill Critical path and progress • Community engagement to ensure transparent dialogue and incorporate stakeholder feedback with two consultation processes expected: One underway led by Eldorado One led by the Greek State, subject to its process and timing • Work continues on the required feasibility and technical studies to support a construction decision 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) 33 Perama Hill looking west
Slide 35 — Exploration
34 Exploration
Slide 36 — Saskatchewan, Canada
Saskatchewan, Canada 35 McIlvenna Bay . Tesla Zone Regional Targets . Initial phase 18 yr mine life based off 29 Mt reserve, with 43Mt total resources and open down plunge and offering mine life extension potential. Significant, near-mine mineralized zone with an exploration target range of 28-45Mt, immediate infrastructure access, and remains open down dip. Inaugural Resource expected H2 2026. Large, under-explored claims package with numerous targets including Thunder- Balsam and South Bay. Emerging scanning technologies and orebody knowledge studies redefining near-mine opportunities. Discovered in 2022 ~86,000 m drilled 1,200m+ in length 500-700m widths Located 300m from McIlvenna Bay deposit Tesla Zone Note: Please refer to the Disclaimer at the beginning of this Presentation for further information on the Exploration Target. The potential quantity and grade of this Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource in this area, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Slide 37 — “Expand & Enhance”: Future Tesla Resource Growth Potential
“Expand & Enhance”: Future Tesla Resource Growth Potential 36 Tesla’s Inaugural Resource is on track for H2 2026 & will be the platform for ongoing expansion opportunities in future Fall Drillhole Intercepts MCILVENNA BAY Last drillhole of 2025: one of the furthest down-dip drilled: Main Lens massive sulphide, 7.7m @ 2.03% Cu, 6.08% Zn, 26.2 g/t Ag and 0.49 g/t Au (4.07% CuEq) . Lower Lens , 6.5m grading 1.05% Cu, 7.51% Zn, 56.3 g/t Ag and 0.37 g/t Au (3.68% CuEq) Intrusion TESLA Radius around intercept (m)
Slide 38 — Quebec, Canada
Quebec, Canada 37 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
Slide 39 — Ormaque
Ormaque 38 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.
Slide 40 — Lamaque South
Lamaque South 39 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
Slide 41 — Kassandra Mines District, Greece
Kassandra Mines District, Greece 40 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
Slide 42 — Olympias Exploration
Olympias Exploration 41 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)
Slide 43 — Stratoni Skarn
Stratoni Skarn 42 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)
Slide 44 — Türkiye: Advancing Early-Stage Exploration
Türkiye: Advancing Early-Stage Exploration 43 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 Türkiye, leveraging strong geological potential and supportive operating environments. • Early-stage portfolio refreshed through licence acquisitions and open-ground staking across Central Anatolia and northeast Türkiye. • 2025 drilling totalled 39,193 m across multiple volcanic-hosted massive sulfide, porphyry, epithermal, and orogenic gold targets.
Slide 45 — Investing in Our Future: Strengthening Exploration for Long-Term Value
Investing in Our Future: Strengthening Exploration for Long-Term Value 44 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 • Additional $17M approved for McIlvenna Bay for remainder of 2026. • 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.
Slide 46 — ESG Recognized as a Key Priority
ESG Recognized as a Key Priority ESG Rating Performance 45 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 October 1, 2026. 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 • Eldorado Gold Quebec received the TSM - Gold Leadership Award from MAC in March 2026 recognizing mining operations that achieve Level AAA – the highest possible rating – across all applicable TSM performance indicators. • MAC-TSM Level AAA on Tailings Management at all operating tailings facilities: Lamaque Complex, the Kassandra Mines and Efemçukuru(3) • Kışladağ was recognized with the 2026 TSM Environmental Excellence Award for extending renewable energy investments beyond mine operations through a community-focused solar water infrastructure project. • At the Health & Safety Awards 2025, hosted by BOUSSIAS Events and Manufacturing magazine, we received the Gold Award for the Comprehensive Emergency Health Incident Management Plan implemented at the Kassandra Mines. Canada’s Best Companies in 2026 by TIME and Statista (2) (1) Eldorado Gold named to Corporate Knights’ 2026 Best 50 Corporate Citizens in Canada 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 2026 by TIME and Statista Eldorado recognized as “Stage setter”, for its ESG leadership and responsible growth. Underscores commitment to sustainability, governance and long-term value creation
Slide 47 — Climate Change Strategy – Our GHG Emissions Mitigation Target
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 26,950 tCO2e of GHG emissions mitigations as of December 2025, representing 46% 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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Slide 49 — Eldorado Gold Executive Management Team
Eldorado Gold Executive Management Team Experienced Operators Supported by a Committed and Proven Leadership Team Paul Ferneyhough EVP Strategy & CFO Executive Leadership Board of Directors Simon Hille EVP & COO • 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 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). George Burns Director Teresa Conway Independent Director Patrick Godin Lead Independent Director Judith Mosely Independent Director Samantha Espley Independent Director Christian Milau President & CEO • 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 Dan Myerson Chair of the Board 48 Christian Milau President & CEO
Slide 50 — Eldorado Share Price Performance
Eldorado Share Price Performance 49 (1) Data as of July 30, 2026. (2) Weighted average exercise price per share Cdn$25.76. (3) As of October 1, 2026 (4) NYSE: EGO Relative Share Price Performance Source: FactSet, data as October 1, 2026 Capital Structure Common Shares outstanding(1) 261,318,863 Share purchase options(1,2) 2,721,301 Performance share units(1) 925,764 Closing share price(3) (NYSE: EGO) $37.61 Market Capitalization(3,4) $9.8 B 52-week Share Price Range(3,4) $24.44 - $51.16 Analyst coverage: ATB Cormark, Bank of America, BMO, Canaccord, CIBC, Global Mining Research, Jefferies, National Bank, RBC, Scotia, Stifel, TD
Slide 51 — Q2 2026 Operating Highlights
Q2 2026 Operating Highlights 50 Consistent Production, Ongoing Cost Discipline and Advancing Growth Projects (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) 2026 Guidance based on current operating mines and excludes production expected from Skouries and McIlvenna Bay. (3) Includes pre-commercial gold production from McIlvenna Bay during Q2 2026. SECOND QUARTER 2026 HIGHLIGHTS • First half of the year tracking to plan: Q2 performance in line with expectations and full-year guidance (back-half weighted year). • McIlvenna Bay Mine produced first copper concentrate, ramping up towards commercial production. • Skouries Project expected first concentrate production in Q3. • Eldorado Gold Québec recognized with three prestigious awards at the Québec Mining Association Annual Gala. Q2 2026 2026 Guidance(2) Gold Production (oz) Total Cash Costs(1) ($/oz) AISC(1) ($/oz) Gold Production (K oz) Total Cash Costs(1) ($/oz) AISC(1) ($/oz) Lamaque Complex 52,340 865 1,192 185 – 200 790 – 990 1,160 – 1,360 Kışladağ 19,108 2,050 2,407 105 – 130 1,830 – 2,080 2,100 – 2,350 Efemçukuru 18,019 1,926 2,252 70 – 80 1,680 – 1,880 2,010 – 2,210 Olympias 15,125 1,923 2,465 70 – 80 1,030 – 1,230 1,370 – 1,570 Total 104,616(3) 1,432 1,926 430 – 490 1,220 – 1,420 1,670 – 1,870
Slide 52 — 2026 Production & Cost Guidance: Mine-by-Mine(9)
2026 Production & Cost Guidance: Mine-by-Mine(9) 51 (1) These are non-IFRS financial measures or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information. (2) On a per ounce of gold sold basis. (3) Percentages shown taken at mid-point of guidance ranges.(4) Includes production from Ormaque. (5) Includes pre-commercial production from Skouries. Skouries’ commercial production is expected in Q4. (6) Skouries Growth and Sustaining Capital following commercial production (expected in Q4). (7) Includes pre-commercial production from McIlvenna Bay. McIlvenna Bay’s commercial production is expected in Q3. (9) Guidance disclosed on February 19, 2026, except for McIlvenna Bay guidance, which was disclosed on July 30, 2026 Kışladağ, Türkiye Gold Production 105 – 130 Koz Total Cash Costs(1,2) $1,830 – $2,080 AISC(1,2) $2,100 – $2,350 Growth Capital(1) $130 – $140 M Sustaining Capital(1) $25 – $30 M Efemçukuru, Türkiye Gold Production 70 – 80 Koz Total Cash Costs(1,2) $1,680 – $1,880 AISC(1,2) $2,010 – $2,210 Growth Capital(1) $25 – $30 M Sustaining Capital(1) $20 – $25 M Lamaque Complex, Canada Gold Production(4) 185 – 200 Koz Total Cash Costs(1,2) $790 – $990 AISC(1,2) $1,160 – $1,360 Growth Capital(1) $180 – $190 M Sustaining Capital(1) $70 – $80 M Olympias, Greece Gold Production 70 – 80 Koz Silver Production 1550 – 1750 Koz Lead Production 15 – 18 Kt Zinc Production 16 – 19 Kt Total Cash Costs(1,2) $1,030 – $1,230 AISC(1,2) $1,370 – $1,570 Growth Capital(1) $40 – $45 M Sustaining Capital(1) $25 – $30 M Kışladağ Efemçukuru Lamaque Complex Olympias Skouries 15% 21% 14% 36% 2026 GOLD PRODUCTION BY MINE(3) Skouries, Greece Gold Production(5) 60 – 100 Koz Copper Production(5) 20 – 40 Mlbs AISC(1,2) ($100) – $200 Growth Capital(1,6) $35 – $45 M Sustaining Capital(1,6) $20 – $35 M 14% McIlvenna Bay, Canada Gold Production(7) 5 – 10 Koz Copper Production(7) 5 – 10 Mlbs Zinc Production(7) 3 – 6 Kt Silver Production(7) 100 – 200 Koz
Slide 53 — Skouries: Land Reclamation in Parallel with Mining Activity
Skouries: Land Reclamation in Parallel with Mining Activity 52 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 a best available technique over typical wet tailings, helping to minimize associated risks • 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
Slide 54 — Kokkinolakkas Filtered Tailings Facility
Kokkinolakkas Filtered Tailings Facility 53 Kokkinolakkas Filtered Tailings Facility • Triple lined facility - providing multiple layers of environmental protection and seepage control • Dual purpose — supports active operations and rehabilitation of the wider area • Contemporary tailings — safely stacks filtered tailings from Olympias production once excess water is removed • Historical activities — also stores legacy waste material from previous mining activities (1969-1995) • Legacy cleanup — removes historic mining waste that have been in the area for decades
Slide 55 — $237M
Transforming a Pre-Eldorado Tailings Site at Olympias 54 Responsible reclamation is restoring long-term land stability and biodiversity in northern Greece. (1) Includes construction costs ($110M), Mine rehabilitation & environmental protection expenditures ($110M) and operating costs ($17M). Historical $ figures assumed at annual average USD:EUR rate of 1.16. Rehabilitation in Action Pre-Eldorado Legacy • 300,000 m² former tailings facility • 2.4 Mt of legacy tailings and contaminated soil • Historical risks to groundwater, air quality and long-term stability • Multi-phase reclamation underway since 2012 • Tailings removed, reprocessed or safely transferred to the modern Kokkinolakkas TMF • Contaminated soils remediated • Native species used to revegetate the site Lasting Outcome • Reclamation nearing completion • Site reintegrated into the surrounding landscape • Improved land stability and biodiversity $237M Invested to year-end 2025(1) $110M invested prior to production 2012 2017 Construction commenced Commercial production Reclaimed area
Slide 56 — Environmental Rehabilitation at Olympias
Environmental Rehabilitation at Olympias 55 Eldorado rehabilitated over 32 acres land that was used by a previous operator to dispose of tailings containing arsenopyrite Before restoration work (2012) After restoration work (2021) REHABILITATION OF OLD OLYMPIAS ARSENOPYRITE CONCENTRATE STORAGE AREA • The remediation and rehabilitation works of this area were initiated by Hellas Gold as a priority immediately after acquiring the Kassandra Mines property • On the rehabilitated 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 Kokkinolakkas, a triple lined facility constructed by Eldorado for safe disposal of historic contaminated waste material and Olympias filtered tailings
Slide 57 — Examples of Rehabilitation Works
Examples of Rehabilitation Works Rehabilitation of old mine waste rock stockpiles in Firé Stacking Area (2.8 ha) Removal and re-use of 500,000 tons of old mine waste rock as construction materials for the Kokkinolakkas Disposal Facility Rehabilitation of old Olympias arsenopyrites stockpiles (3.2 ha) Removal of 500,000 tons of arsenopyrites and contaminated soils and rehabilitation of the original terrain with soil cover and installation of vegetation Rehabilitation of old waste rock disposal site in the Chevalier area (3.6 ha) Removal of waste rock, landscaping and hydroseeding.
Slide 58 — Hedge Portfolio
Hedge Portfolio Skouries Project Finance Related Hedges • 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 57 Hedging related to Skouries Project Financing Skouries
Slide 59 — Sustainability Framework and SIMS
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 to impart a One Eldorado approach to manage high-risk activities • Leverage technology to improve workplace safety, including continuous monitoring of physical (radar, InSAR, air quality, etc.), remote equipment and collision avoidance 58 SIMS minimum performance standards operationalize our Framework’s four key commitments to ESG-related topics Responsibly Produced Products • Reducing our footprint 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 and two closed 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: Optimizing processes and adopting new equipment to mitigate GHG emissions Updated 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 $7 million invested in communities in 2025 • Adopting strategic community investment principles globally • Community of Interest Committees meet regularly at all operations to engage on key topics and provide feedback, including on: Environmental performance Project permitting and/or closure Community investment
Slide 60 — Inclusive Diversity
Inclusive Diversity Global Initiatives • Multi-year updated Equity, Diversity, and Inclusion Strategy launched in 2025 based on input from global employee workforce study • Sponsor of Artemis Project • Active sponsor of International Women in Mining; participation from all jurisdictions in global mentorship program • 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; 7 women in executive leadership and gender parity achieved at Board level • “Not Myself Today” manager training in support of creating psychologically healthy and safe work cultures 59 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 • Health and wellness committee with diverse representation in support of psychologically healthy and safe work culture • Active sponsor and participant with Women in Mining Abitibi TÜRKIYE • Unconscious Bias training for Management • Defying traditional gender stereotypes for certain roles in mining • Programs in place to support women entrepreneurs in rural development
Slide 61 — World Gold Council: Gold 247
World Gold Council: Gold 247 60 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 international 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
Slide 62 — Financial Results
($ millions unless otherwise noted) Q2 2026 Q1 2026 2026 YTD(4) 2025 2024 2023 2022 Operating Metrics Realized Gold Price ($/oz) 4,379 4,891 4,632 3,505 2,405 1,944 1,787 Gold produced (oz) 104,616(5) 100,358 204,974(5) 488,268 520,293 485,139 453,916 Total cash costs(1) ($/oz sold) 1,432 1,470 1,451 1,176 940 850 878 All-in sustaining costs(1) ($/oz sold) 1,926 1,942 1,934 1,664 1,285 1,220 1,276 Income Metrics Revenue 487.5 532.4 1,019.9 1,818.9 1,322.6 1,008.5 872.0 Production costs 184.8 188.2 373.0 677.6 564.2 478.9 459.6 Net earnings (loss) for the period(2,3) 172.8 136.4 309.2 519.9 300.9 106.2 (49.2) Adjusted EBITDA(1,2) 281.1 335.7 616.8 836.2 679.7 453.1 321.5 Adjusted net earnings(1,2,3) 136.7 188.2 325.0 354.9 320.7 110.7 10.1 Adjusted net earnings per share(1,2,3) 0.54 0.95 1.45 1.75 1.57 0.57 0.05 Cash Flow Metrics Net cash generated from operating activities(2) 149.5 141.4 290.9 742.5 656.0 382.9 211.2 Cash flow from operating activities before changes in working capital(1,2) 103.1 187.1 290.2 752.0 635.5 411.2 239.5 Total Cash Capital expenditures(2) 469.6 311.3 781.0 866.4 594.1 401.8 289.9 Free cash flow(1,2) (334.1) (129.1) (463.2) (232.9) 19.8 (47.2) (104.5) Free cash flow excluding Skouries and McIlvenna Bay(1,2) 40.9 62.9 103.8 315.6 355.0 112.6 (69.4) Cash and cash equivalents 554.6 629.7 554.6 869.4 856.8 540.5 279.7 Financial Results 61 (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) Six-months ended June 30, 2026. (5) Includes pre- commercial gold production from McIlvenna Bay during Q2 2026.
Slide 63 — Mineral Reserves (Gold, Silver) as of September 30, 2025
Mineral Reserves (Gold, Silver) as of September 30, 2025 62 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 3,361 11.1 1,202 4,290 11.6 1,606 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
Slide 64 — Mineral Reserves (Copper, Lead, Zinc) as of September 30, 2025
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 63
Slide 65 — Mineral Resources (Gold, Silver) as of September 30, 2025
Mineral Resources (Gold, Silver) as of September 30, 2025 64 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 3,650 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 - Sulfide 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 - Sulfide 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
Slide 66 — Mineral Resources (Copper, Lead, Zinc) as of September 30, 2025
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 - Sulfide 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 65
Slide 67 — Notes on Mineral Resources and Reserves
Notes on Mineral Resources and Reserves 66 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, EVP & COO, 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.
Slide 68 — Notes on Mineral Reserves
Notes on Mineral Reserves 67 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
Slide 69 — Notes on Mineral Resources
Notes on Mineral Resources 68 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
Slide 70 — McIlvenna Bay 2024 Mineral Reserve and Mineral Resource Estimate
McIlvenna Bay 2024 Mineral Reserve and Mineral Resource Estimate 69 1. Effective date for Mineral Resources of November 16, 2024; CIM definitions were followed for Mineral Resources. 2. The mineral resource is estimated based on 271 diamond drill holes and a NSR cut-off of US$70/t. NSR values were derived, and high-grade caps were applied as per the discussion in Estimation Methodology and Parameters and include provisions for metallurgical recovery and estimates of current shipping terms and smelter rates for similar concentrates. Metal prices used are US$4.83/lb. Cu, US$1.37/lb. Zn, US$2,336/oz. Au, and US$29.72/oz. Ag. Lead contributes no value. 3. Rock density was interpolated for each block based on measurements taken from core specimens, with an average value of 3.56 g/cm3 for the main MS lens and 2.86 g/cm3 for the CS Zone. 4. Mineral resources that are not mineral reserves do not have demonstrated economic viability. 5. The block model grades were estimated using the Ordinary Kriging interpolation method, with search parameters derived from geostatistical analysis performed within the mineralization wireframes. Variogram ranges are from 65 m to 85 m for Au and Ag in the major axis and up to 100 m to 120 m for Cu and Zn. 6. Micon’s QP has not identified any legal, political, environmental, or other factors that could materially affect the potential development of the mineral resource estimate. 7. The mineral resource estimates are classified according to the CIM Definition Standards, which define a Mineral Resource as “a concentration or occurrence of solid material of economic interest in or on the earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge including sampling.” 8. The mineral resource was categorized based on geological confidence into inferred and indicated categories. An inferred mineral resource has the lowest level of confidence. An indicated mineral resource has a higher level of confidence than an inferred mineral resource. It is reasonably expected that the majority of the inferred mineral resources could be upgraded to indicated mineral resources with additional infill drilling. 9. Effective date for Mineral Reserves of November 21, 2024, CIM definitions were followed for Mineral Reserves. 10. Mineral Reserves include transverse, longitudinal, and Avoca stopes, as well as ore development, marginal development, and incremental stopes. 11. Stopes were estimated at a cut-off value of US $92.50/tonne NSR. 12. Marginal tonnes were estimated at a cut-off value of US $73.97/tonne NSR. 13. A minimum mining width of 3.0 m was applied for all stoping. 14. Numbers may not sum due to rounding. 15. NSR Reserve Prices (US$); Cu $4.20/lb, Zn $1.19/lb, Ag $25.84/oz, Au $2031/oz 16. Mr. Mark Hatton, P.Eng. of Stantec Inc. has reviewed and verified this mineral reserve estimate. Mr. Hatton is independent of Eldorado Gold (Foran) and is a “Qualified Person” within the meaning of National Instrument 43-101. Reserves Tonnes (Mt) Cu (%) Zn (%) Au (g/t) Ag (g/t) CuEq (%) Total Reserves 29.7 1.21% 2.17% 0.44 14.4 2.51% Resources Tonnes (Mt) Cu (%) Zn (%) Au (g/t) Ag (g/t) CuEq (%) Total Indicated 38.6 1.19% 2.18% 0.41 14.40 2.02% Total Inferred 4.5 0.93% 2.60% 0.28 15.80 1.77%
Slide 71 — Thank You
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