Endeavour reports strong H1-2025 results

London, 31 July 2025 – 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 Q2-2025 and H1-2025, with highlights provided in Table 1 below.

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.

Q2-2025 has been another strong quarter for Endeavour, capping an excellent first half of 2025 with 647koz of gold produced at an AISC of $1,281 per ounce; ensuring we are firmly on track to achieve our full-year guidance.

As a result of our larger portfolio, following the completion of our growth phase 12 months ago, H1-2025 production was 38% higher than the same period last year, with our all-in sustaining margin 80% higher, ensuring that we realised the full benefit of the strong gold price environment.

Over the past 12 months, we have generated $879 million of free cash flow, equivalent to over $687 for every ounce of gold we produced, or a yield of more than 17% from the start of the period. During H1, despite paying approximately 70% of our full-year’s taxes, we still generated record free cash flow of $514 million, equivalent to $794 for every ounce of gold we produced, and we are well positioned to continue delivering strong free cash flow in the second half of the year.

Underpinned by this strong free cash flow, we have maintained leverage well below our target and declared another record dividend of $150 million for H1-2025, which we have further supplemented with $69 million of share buybacks, equivalent to returns of $338 for every ounce of gold produced for the period. Since our first payments in 2021, we have returned $1.4 billion to shareholders, over 80% above our minimum commitment, and equivalent to $213 for every ounce produced over the period.

Looking ahead, the DFS for our tier 1 Assafou project is on schedule for completion by early-2026, and the permitting process is well advanced. Simultaneously, we are continuing to explore the property and expect to outline a resource update later this year, incorporating resources from satellite discoveries in close proximity to Assafou.

We are very pleased with the operational performance we have delivered from our expanded portfolio and our ability to convert that performance into cash flow. Our high-margin, long-life operations, coupled with our exciting organic growth pipeline positions us well to continue delivering against our strategic objectives.

Ian Cockerill
Chief Executive Officer

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QUALIFIED PERSONS

Brad Rathman, Vice President - Operations of Endeavour Mining plc., a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and approved the technical information in this news release.

CONTACT INFORMATION

ABOUT ENDEAVOUR MINING PLC

Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is admitted to listing and to trading on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.

For more information, please visit www.endeavourmining.com.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This document contains "forward-looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, are “forward-looking statements”, including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, the success of exploration activities, the anticipated timing for the payment of a shareholder dividend and statements with respect to future dividends payable to the Company’s shareholders, the completion of studies, mine life and any potential extensions, the future price of gold and the share buyback programme. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", believes”, “plan”, “target”, “opportunities”, “objective”, “assume”, “intention”, “goal”, “continue”, “estimate”, “potential”, “strategy”, “future”, “aim”, “may”, “will”, “can”, “could”, “would” and similar expressions.

Forward-looking statements, while based on management's reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful completion of divestitures; risks related to international operations; risks related to general economic conditions and the impact of credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; Endeavour’s financial results, cash flows and future prospects being consistent with Endeavour expectations in amounts sufficient to permit sustained dividend payments; the completion of studies on the timelines currently expected, and the results of those studies being consistent with Endeavour’s current expectations; actual results of current exploration activities; production and cost of sales forecasts for Endeavour meeting expectations; unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; extreme weather events, natural disasters, supply disruptions, power disruptions, accidents, pit wall slides, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities; changes in national and local government legislation, regulation of mining operations, tax rules and regulations and changes in the administration of laws, policies and practices in the jurisdictions in which Endeavour operates; disputes, litigation, regulatory proceedings and audits; adverse political and economic developments in countries in which Endeavour operates, including but not limited to acts of war, terrorism, sabotage, civil disturbances, non-renewal of key licenses by government authorities, or the expropriation or nationalisation of any of Endeavour’s property; risks associated with illegal and artisanal mining; environmental hazards; and risks associated with new diseases, epidemics and pandemics.

Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedarplus.ca for further information respecting the risks affecting Endeavour and its business.

The declaration and payment of future dividends and the amount of any such dividends will be subject to the determination of the Board of Directors, in its sole and absolute discretion, taking into account, among other things, economic conditions, business performance, financial condition, growth plans, expected capital requirements, compliance with the Company's constating documents, all applicable laws, including the rules and policies of any applicable stock exchange, as well as any contractual restrictions on such dividends, including any agreements entered into with lenders to the Company, and any other factors that the Board of Directors deems appropriate at the relevant time. There can be no assurance that any dividends will be paid at the intended rate or at all in the future.

CAUTIONARY STATEMENTS REGARDING PRODUCTION, AISC AND TOTAL CASH COST

Whether or not expressly stated, all figures contained in this press release including production, AISC and total cash cost levels are preliminary and reflect our expected annual and quarterly results as of the date of this press release. Actual reported annual and quarterly results are subject to management’s final review, as well as audit by the company’s independent accounting firm, and may vary significantly from those expectations because of a number of factors, including, without limitation, additional or revised information, and changes in accounting standards or policies, or in how those standards are applied. The annual and quarterly AISC and total cash cost include expected amounts for year-end accrual and working capital adjustments. Endeavour will provide additional discussion and analysis and other important information about its annual production, AISC and total cash cost levels when it reports actual results.

NON-GAAP MEASURES

Some of the indicators used by Endeavour in this press release represent non-IFRS financial measures, including “all-in sustaining cost”, "total cash cost", “net cash / net debt”, “EBITDA”, “adjusted EBITDA”, “net cash / net debt to adjusted EBITDA ratio”, “cash flow from continuing operations”, “total cash cost per ounce”, “sustaining and non-sustaining capital”. These measures are presented as they can provide useful information to assist investors with their evaluation of the pro forma performance. Since the non-IFRS performance measures listed herein do not have any standardised definition prescribed by IFRS, they may not be comparable to similar measures presented by other companies. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Please refer to the non-GAAP measures section in this press release and in the Company’s most recently filed Management Report for a reconciliation of the non-IFRS financial measures used in this press release.