ARIS MINING REPORTS Q3 2025 RESULTS

Core Insights - The production ramp-up at Segovia is driving record financial results for Aris Mining, with a cash balance of $418 million and significant growth in revenue, cash flow, and adjusted earnings [2][3][6] Financial Performance - Q3 2025 revenue reached $253.5 million, a 27% increase from Q2 2025 and a 93% increase from Q3 2024, attributed to higher gold prices and increased sales volumes [3][6] - Adjusted EBITDA for Q3 2025 was $131.1 million, up 33% from Q2 2025 and triple that of Q3 2024, with a trailing 12-month adjusted EBITDA of $352.0 million [3][6] - Adjusted net earnings were $71.8 million or $0.36 per share, an increase from $0.27 per share in Q2 2025 and $0.08 per share in Q3 2024 [3][6] - Cash balance increased to $417.9 million as of September 30, 2025, up from $310.2 million at June 30, 2025, primarily due to cash flow after sustaining capital and income taxes [3][6] Operational Performance - Total gold production in Q3 2025 was 73,236 ounces, a 25% increase from Q2 2025, with Segovia operations producing 65,549 ounces [7][8] - The average realized gold price was $3,494 per ounce sold, compared to $3,303 in Q2 2025 and $2,457 in Q3 2024 [5][7] - The all-in sustaining cost (AISC) margin increased to $121.5 million, up 39% from Q2 2025, with an AISC of $1,641 per ounce sold [7][8] Project Development Highlights - The Marmato Bulk Mining Zone construction is on schedule for first gold in the second half of 2026, with significant progress in development and construction activities [6][8] - The Soto Norte Prefeasibility Study completed in September 2025 shows robust economics with an after-tax NPV of $2.7 billion and an IRR of 35% [8][19] - The Toroparu Project's Preliminary Economic Assessment completed in October 2025 indicates an after-tax NPV of $1.8 billion and an IRR of 25.2% [8][19] Cash Flow and Capital Expenditures - Operations generated $90.8 million in cash flow after sustaining capital and income taxes in Q3 2025, fully funding growth initiatives [6][8] - Total expansion and growth capital expenditures in Q3 2025 were $48.1 million, with significant investments in the Marmato Bulk Mining Zone and Segovia Operations [6][8]