Endeavour reports strong FY-2025 results

London, 5 March 2026 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased to announce its operating and financial results for Q4-2025 and FY-2025, with highlights provided in Table 1 below.

Table 1: Operating and financial highlights from continuing operations¹

¹Continuing Operations excludes the settlement of historic liabilities under the original sale agreement of the Boungou mine. ²This is a non-GAAP measure, refer to the non-GAAP Measures section for further details. ³Realised gold prices are inclusive of the Sabodala-Massawa stream and the realised gains/losses from the Group’s revenue protection programme. ⁴From all operations; calculated as Operating Cash Flow less Cash used in investing activities. ⁵Last Twelve Months (“LTM”) Trailing EBITDA adj includes EBITDA generated by discontinued operations.

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Management will host a conference call and webcast today, Thursday 5 March 2026, at 8:30 am EST / 1:30 pm GMT. For instructions on how to participate, please refer to the conference call and webcast section at the end of the news release. Today the Management Discussion & Analysis, audited Financial Statements and Annual Report for the year ended 31 December 2025 have been submitted to the National Storage Mechanism and filed on SEDAR+. The documents will shortly be available to view on the Company’s website and at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. In addition, the Company has published its 2025 Sustainability Report and associated ESG Reporting Centre, which will be available on the Company’s website.

“2025 was a strong year of operational performance and a record year of financial performance, as we safely achieved our strategic objectives.

We produced 1.2 million ounces of gold at an all-in sustaining cost of $1,433 per ounce, achieving our guidance, on a royalty-adjusted basis, for the twelfth time in the last thirteen years, underpinned by sustained operational excellence and our high quality portfolio.

Importantly higher gold prices combined with our strong operational performance are directly translating into increased margins and increased cash flows. We delivered record free cash flow of $1.2 billion, equivalent to $956 per ounce produced, for the year, which supported over a half a billion dollar reduction in our net debt position, as we ended the year with near-zero leverage.

We also returned $435.3 million to shareholders, which was 93% above our minimum commitment and equivalent to $360 per ounce produced. Since launching our returns program in 2021, we have returned more than $1.6 billion to shareholders, 83% above our minimum commitment. Looking ahead, our updated sector-leading shareholder returns programme targets a minimum dividend of $1.0 billion over the 2026 to 2028 period, which at prevailing gold prices we would expect to more than double, through increased supplemental dividends and share buybacks.

Simultaneously, we contributed $2.8 billion to our host economies this year as we increased our in-country procurement, supporting more than 1,200 national and local businesses. Our enhanced economic impact drives shared benefits that are visible, and continue to strengthen our social license to operate and the long-term resilience of our business.

This resilience is underpinned by our tier 1 Assafou project, where the DFS is approaching completion in Q1, and both the environmental and the exploitation permits have been approved, significantly de-risking the project timeline, which is targeting first gold in H2-2028. Our exploration programme successfully increased reserves and resources at Assafou incorporating additions at Assafou and the Pala satellite deposits, highlighting the growing scale of this tier 1 complex.

While reserves and resources were lower this year, largely reflecting mining depletion and model optimisation at Lafigué, Houndé and Sabodala-Massawa, we were delighted to add 1.5Moz of M&I discoveries at Sabodala-Massawa, Ity and Assafou, including maiden resources at the adjacent Pala Trend 3 target.

Late last year we launched our new exploration strategy to add between 12 - 15 million ounces over the 2026 to 2030 period for the low discovery cost of $40/oz. 6 - 9 million ounces of brownfield discoveries are targeted to replace production depletion while up to 6 million ounces of greenfield discoveries are targeted within West Africa and in three highly prospective and geologically immature tier 1 gold provinces, further diversifying our long-term growth pipeline.

We have entered 2026 with strong operating momentum and a healthy balance sheet, positioning us to achieve our strategic objectives and deliver sector-leading organic growth and sector-leading shareholder returns, sustainably rewarding all of our stakeholders.

Ian Cockerill
Chief Executive Officer

Attachment

• Press Release
• Results Presentation
• Mine Statistics
• Annual Report
• Sustainability Report
• Management Report
• Financial Statements

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