Eldorado Gold – Transformational Growth in Greece in 2026

Core Viewpoint - Eldorado Gold Corporation is advancing its high-quality growth projects in Greece, which are expected to deliver significant production growth, improved margins, and enhanced cash flow starting in 2026 [1] Group 1: Skouries Project - The Skouries Project is on track for first concentrate production by the end of Q1 2026, with commercial production anticipated in mid-2026 [5][8] - As of December 31, 2025, overall project progress is 90% for phase 1 and 78% for phase 2, with significant advancements in underground development and open pit mining [5][13] - The project is expected to generate an average annual production of 140,000 ounces of gold and 67 million pounds of copper over a 20-year mine life [7] Group 2: Olympias Expansion - The Olympias expansion project is progressing towards increasing processing capacity from 500,000 tonnes per annum to 650,000 tonnes per annum, with completion expected in Q3 2026 [4][39] - Improved concentrate off-take terms starting in 2026 are expected to enhance cash flow significantly, with higher payability and lower treatment charges compared to 2025 [41] Group 3: Perama Hill Development - The Perama Hill project is expected to produce approximately 100,000 ounces of gold annually over an initial eight-year mine life, with potential for extension [42] - The Environmental Impact Assessment (EIA) was submitted in December 2025, marking a key step towards project development [6][42] - Community consultation processes are set to begin, ensuring stakeholder engagement and transparency [43] Group 4: Financial and Operational Highlights - The capital cost estimate for the Skouries Project is revised to $1.06 billion, with the project fully funded [10] - Accelerated operational capital costs are expected to increase by approximately $24 million to support pre-commercial mining activities [11] - As of December 30, 2025, there are approximately 1.2 million tonnes of ore stockpiled, containing about 47.3 thousand ounces of gold and 12.5 million pounds of copper [31]