4-Year Operating Outlook

Gold production (midpoint) increasing 45% over 4 years driven by our growth projects.

Gold Production (000’ oz)2023A2024E(1)2025E(2)2026E2027E
Lamaque Complex177175 - 190170 - 180180 - 200180 - 200
Kışladağ155180 - 195175 - 185150 - 165165 - 175
Efemçukuru8675 - 8570 - 8075 - 8560 - 70
Olympias6775 - 8580 - 9080 - 9075 - 85
Skouries--50 - 60(2)145 - 155195 - 205
Total Gold485505 - 555545 - 595630 - 695675 - 735
Copper Production (M lb)     
Skouries--15 - 2050 - 6060 - 80
Total Copper--15 - 2050 - 6060 - 80

(1) Includes production ounces from the bulk sample process at Ormaque.

(2) Includes expected pre-commercial production from Skouries. First production is expected in Q3 2025, followed by a ramp-up and commercial production by the end of 2025.

2024 GUIDANCE: PRODUCTION, COSTS & CAPITAL

 Lamaque ComplexKişladağEfemçukuru(3)Olympias(3)SkouriesTotal
Production (000’ ounces)175 - 190180 - 19575 - 8575 - 85-505 - 530
Total Cash Costs(1) ($/oz sold)700 - 800820 - 9201,080 – 1,180980 – 1,080-910 - 940(4)
AISC ($/oz sold)(1)1,180 – 1,280890 - 9901,290 – 1,3901,280 – 1,380-1,260 – 1,290(4)
Sustaining Capital(1) ($ M)85 - 9510 - 1512 - 1728 - 33-135 - 145
Growth Capital(1,2) ($ M)17 - 2285 - 956 - 914 - 18350 - 380495 - 540

(1)These are non-IFRS financial or ratios. See Slide 2 ‘Non-IFRS Measures’ for more information.

(2)Includes capitalized exploration at Lamaque and Efemçukuru.

(3)Payable metal produced.

(4)Totals may not add based on the averaging of costs.

2024 OPERATIONS UPDATE

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 Q1 2024Q2 2024Q3 2024YTD 2024FY 2023
Consolidated Results     
Ounces produced117,111122,319125,195364,625485,139
Ounces sold116,008121,226123,828361,062483,978
Production costs$123.0$127.8$141.2$392.0$478.9
Total cash costs ($/oz sold) (1,2)$922$941$953$939$743
All-in sustaining costs ($/oz sold) (1,2)$1,262$1,331$1,335$1,310$1,220
Sustaining capital expenditures ($M) (2)$29.1$30.9$33.3$93.2$121.8
Kışladağ, Türkiye     
Ounces produced37,52338,99041,084117,597154,849
Ounces sold36,69939,64640,724117,068154,456
Production costs$30.9$38.2$37.3$106.5$122.8
Total cash costs ($/oz sold) (1,2)$820$941$899$889$657
All-in sustaining costs ($/oz sold) (1,2)$916$1,055$1,028$1,00$900
Sustaining capital expenditures ($M) (2)$2.2$3.1$3.7$8.9$16.0
Lamaque Complex, Canada     
Ounces produced42,29947,39143,106132,796177,069
Ounces sold44,62043,62544,531132,776176,495
Production costs$35.2$33.6$32.8$101.6$119.5
Total cash costs ($/oz sold) (1,2)$779759$728$755$643
All-in sustaining costs ($/oz sold) (1,2)$1,2621,233$1,189$1,228$1,089
Sustaining capital expenditures ($M) (2)$21.120.1$20.0$61.1$72.7
Efemçukuru, Türkiye     
Ounces produced18,50122,39719,79460,69286,088
Ounces sold18,61422,46219,74160,81786,078
Production costs$21.8$24.8$26.4$73.0$80.1
Total cash costs ($/oz sold) (1,2)$1,154$1,087$1,325$1,185$797
All-in sustaining costs ($/oz sold) (1,2)$1,138$1,288$1,578$1,336$1,154
Sustaining capital expenditures ($M) (2)$2.4$3.6$4.7$10.7$14.0
Olympias, Greece      
Ounces produced18,78813,54121,21153,54067,133
Ounces sold16,07515,49318,83350,40166,949
Production costs$35.0$31.3$44.7$110.9$156.5
Total cash costs ($/oz sold) (1,2)$1,287$1,231$1,210$1,241$1,133
All-in sustaining costs ($/oz sold) (1,2)$1,527$1,522$1,513$1,520$1,688
Sustaining capital expenditures ($M) (2)$3.5$4.1$4.9$12.5$19.0

(1) Revenues from silver, lead and zinc sales are off-set against total cash costs.

(2) These financial measures or ratios are non-IFRS financial measures or ratios. See the section 'Non-IFRS and Other Financial Measures and Ratios’ of the latest MD&A for explanations and discussions of these non-IFRS financial measures or ratios.