Q4 & FULL YEAR 2025 RESULTS February 19, 2026 ORroyalties.com TSX-NYSE | OR Amounts presented are in United States Dollars, except where otherwise noted CAUTIONARY STATEMENTS FORWARD-LOOKING STATEMENTS Certain statements contained in this presentation may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements a ...

Fourth Quarter 2025 Results Presentation February 19, 2026 Cautionary notes This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, the "Presentation"), have been prepared by Alamos Gold Inc. ("Alamos" or the "Company") solely for information purposes. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information provided. This ...

Q4 2025 RESULTS & CORPORATE UPDATE FEBRUARY 19, 2026 Cautionary Notes Gaining Momentum Streamlined Portfolio Strong Balance Sheet Date X, 2025 Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively "Forward-looking Information"). Actual results of operations and the ensuing financial res ...

Financial Data and Key Metrics Changes - In 2025, the company produced just over 2 million ounces of gold, achieving a 66% increase in margins compared to a 43% increase in gold prices, resulting in record free cash flow generation of $769 million in Q4 and $2.5 billion for the full year [4][5] - Cost of sales for Q4 was $1,289 per ounce, with all-in sustaining costs at $1,825 per ounce, higher than the previous quarter due to increased gold prices and lower planned production [12] - Full-year cost of sales was $1,135 per ounce, and all-in sustaining costs were $1,571 per ounce, in line with guidance despite higher royalties [13] Business Line Data and Key Metrics Changes - Tasiast and Paracatu mines accounted for approximately 1.1 million ounces of production in 2025, with Paracatu exceeding 600,000 ounces and Tasiast being the highest margin operation [5][22] - La Coipa met full-year production guidance with a strong performance in Q4, producing 67,000 ounces [24] - U.S. assets collectively produced 676,000 ounces at a cost of sales of $1,426 per ounce, in line with guidance [24] Market Data and Key Metrics Changes - The company expects production to remain around 2 million ounces through the end of the decade, supported by higher-grade mining at Tasiast and U.S. projects [9] - Cost inflation is anticipated, primarily due to higher royalties and inflation, with guidance for 2026 set at $1,360 per ounce for cost of sales and $1,730 per ounce for all-in sustaining costs [17] Company Strategy and Development Direction - The company is proceeding with construction of three high-quality organic growth projects to extend mine life and enhance long-term costs [7] - A disciplined capital allocation strategy will be maintained, focusing on reinvesting in operations while returning approximately 40% of free cash flow to shareholders through dividends and share repurchases [19] - The company aims to strengthen its balance sheet while investing in operations to maintain a reliable, low-risk business [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook, highlighting strong operational performance and cash flow generation [47] - The company is committed to responsible mining and sustainability, with plans to publish an annual sustainability report [10][11] - Future capital allocation will focus on maintaining a strong balance sheet while investing in growth opportunities [19] Other Important Information - The company received a credit rating upgrade from Moody's, improving from Baa3 to Baa2 [15] - Significant progress was made in sustainability initiatives, including a 1.5% reduction in greenhouse gas emissions [11] Q&A Session Summary Question: On Great Bear, the One Project One Process designation - Management confirmed that the designation represents an important milestone and will facilitate the provincial permitting process, with targeted first gold production in late 2029 [51][53] Question: 2026 cost guidance breakdown - The increase in all-in sustaining costs is primarily due to inflation and higher royalties, with a 10% overall increase expected [56] Question: Capital allocation and cash returns - The company plans to return capital primarily through buybacks, with a focus on maintaining a strong balance sheet while reinvesting in the business [61][63] Question: Updates on Great Bear and Lobo-Marte - Management clarified that updates will focus on milestones for Great Bear, including permitting and construction progress, while Lobo-Marte will have a specific project update on economics [86] Question: Labor contract renewals - Ongoing negotiations for the Paracatu contract are in progress, with other sites having completed their agreements [80]

Financial Data and Key Metrics Changes - The company reported a significant increase in attributable production, up 18% year-on-year to 2.44 million ounces [7][21] - Headline earnings rose 170% year-on-year to $2.6 billion, with adjusted free cash flow increasing 391% to just shy of $3 billion [21][22] - All-in costs increased by 3% and all-in sustaining costs by 1%, primarily due to higher royalties and strengthening producer currencies [8][13] Business Line Data and Key Metrics Changes - Gruyere production increased by 42,000 ounces due to the acquisition of Gold Road Resources and higher tonnes milled [11] - South Deep production rose by 16%, driven by improved mining grades and stope turnover [18] - Damang production decreased by 28% due to processing stockpiles, while Tarkwa saw a 12% reduction in production ounces due to prioritizing waste stripping [18][19] Market Data and Key Metrics Changes - Approximately 44% of production came from Australia, with notable growth in Chile and Canada through Salares Norte and the Windfall project [5] - The average gold price for the period was about $3,500 per ounce, contributing to increased cash flow [21] Company Strategy and Development Direction - The company is focused on optimizing its asset portfolio and has identified several opportunities for asset optimization for 2026 [3] - A capital allocation policy was revamped to deliver 35% of free cash flow before discretionary investments to shareholders [4] - The company aims to advance the Windfall project towards a final investment decision (FID) by mid-2026 [29][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged cost inflation as a significant concern, particularly regarding rising royalty rates and strengthening currencies [42] - The company is confident in its ability to manage costs and improve operational efficiency while maintaining a strong balance sheet [42][68] - Future production guidance for 2026 is set between 2.4-2.6 million ounces, with all-in sustaining costs projected between $1,800 and $2,000 per ounce [38] Other Important Information - The company announced a special dividend of ZAR 4.50 per share and a share buyback program of $100 million [4][22] - Total shareholder returns for the year amounted to ZAR 31.90 per share, a 220% increase from 2024 [27] Q&A Session Summary Question: What is the most troublesome KPI on your radar at the moment? - Management highlighted cost inflation and the need to progress the Tarkwa lease renewal as key concerns [42] Question: Could you outline the current exploration roadmap? - The company plans to prioritize brownfield exploration, particularly at Windfall, while ramping up greenfield exploration efforts [44] Question: What is the rationale for a $100 million buyback on a market cap of $47 billion? - The buyback program is seen as a way to balance shareholder returns, catering to different preferences among shareholders [47][49] Question: Can you discuss the current situation in Ghana regarding royalties? - The royalty bill is expected to be passed into law soon, but the current lease agreement provides some protection until 2027 [55][56] Question: What is the expected impact of the proposed royalty increase on Tarkwa? - The potential increase could lead to an additional $350 per ounce in costs at current spot prices [81]

Financial Data and Key Metrics Changes - In 2025, the company produced just over 2 million ounces of gold, achieving a 66% increase in margins compared to a 43% increase in gold prices, resulting in record free cash flow generation of $769 million in Q4 and $2.5 billion for the full year [4][5] - The cost of sales for Q4 was $1,289 per ounce, with all-in sustaining costs at $1,825 per ounce, which were higher than the previous quarter due to increased gold prices and lower planned production [12] - Full-year cost of sales was $1,135 per ounce, and all-in sustaining costs were $1,571 per ounce, in line with guidance despite higher royalties [13] Business Line Data and Key Metrics Changes - Tasiast and Paracatu mines together accounted for approximately 1.1 million ounces of production, with Paracatu exceeding 600,000 ounces and Tasiast being the highest margin operation [5][21] - La Coipa met full-year production guidance with a total of 232,000 ounces, while U.S. assets collectively produced 676,000 ounces at a cost of sales of $1,426 per ounce [24][25] Market Data and Key Metrics Changes - The company expects production to remain around 2 million ounces through the end of the decade, supported by higher-grade mining at Tasiast and new U.S. projects [9] - Cost guidance for 2026 is set at $1,360 per ounce for cost of sales and $1,730 per ounce for all-in sustaining costs, reflecting a 10% increase compared to 2025 due to higher royalties and inflation [16] Company Strategy and Development Direction - The company is proceeding with construction of three high-quality organic growth projects to extend mine life and enhance long-term costs [7] - A disciplined capital allocation strategy will be maintained, focusing on reinvesting in operations while returning approximately 40% of free cash flow to shareholders through dividends and share repurchases [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook, emphasizing strong operational performance and cash flow generation, alongside a commitment to responsible mining and sustainability [46] - The company anticipates higher costs due to inflation and royalties but aims to maintain cost discipline [10] Other Important Information - The company ended the year with approximately $1 billion in net cash and received a credit rating upgrade from Moody's to Baa2 [14][15] - Sustainability initiatives included a 1.5% reduction in greenhouse gas emissions and support for health clinics in Mauritania [11] Q&A Session Summary Question: On Great Bear, the One Project One Process designation - Management confirmed that the designation streamlines the provincial permitting process and enhances relationships with the provincial government, facilitating project advancement [50][51] Question: 2026 cost guidance breakdown - The increase in all-in sustaining costs is primarily due to inflation and higher royalties, with a smaller portion attributed to mine plan sequencing [54] Question: Capital allocation and cash returns - The company prefers buybacks over special dividends for capital returns, aiming to reduce share count and improve per-share metrics [59][60] Question: Updates on Great Bear and Lobo-Marte - Management clarified that updates will focus on ongoing permitting and milestones rather than a new technical study [84] Question: Labor contract renewals - Ongoing negotiations for the Paracatu contract are in progress, with inflation impacts varying by country [82]

Gold Fields (NYSE:GFI) H2 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsAdrian Hammond - Executive DirectorAlex Dall - CFOChris Gratias - EVP of Strategy, Planning and Corporate DevelopmentJongisa Magagula - EVP of Investor Relations and Corporate AffairsMike Fraser - CEOConference Call ParticipantsChris Nicholson - Equity AnalystRené Hochreiter - Partner and AnalystMike FraserGood afternoon, good morning, and good evening for those that have joined the presentation of our financial y ...

Core Insights - Onyx Gold Corp. has been recognized in the 2026 TSX Venture 50, highlighting its strong performance over the past year [1][2]. Performance Metrics - The TSX Venture 50 ranks companies based on one-year share price appreciation, market capitalization growth, and Canadian consolidated trading value [2]. - In 2025, Onyx achieved a 641% increase in share price and a 1,202% growth in market capitalization, alongside a significant increase in trading liquidity [11]. Company Highlights - The recognition follows a transformative year for Onyx, driven by the high-grade Argus North discovery at the Munro-Croesus Project and continued drilling success [2][3]. - The company is focused on advancing its high-grade gold projects in Timmins, Ontario, and Yukon Territory, with a strong balance sheet and expanding drill programs [3][4]. Project Overview - Onyx Gold controls the Munro-Croesus Property, which includes the historic high-grade Croesus Mine and the recent Argus North discovery [6]. - The company also holds two large early-stage projects: Golden Mile and Timmins South, which are strategically positioned for exploration [6]. - In Yukon, Onyx has a commanding land position across four properties in the Selwyn Basin, an area gaining recognition for new gold discoveries [7]. Leadership and Strategy - Onyx is led by an experienced team committed to delivering shareholder value through disciplined exploration and strategic growth [8].

Gold Fields (NYSE:GFI) H2 2025 Earnings call February 19, 2026 08:00 AM ET Speaker5Good afternoon, good morning, and good evening for those that have joined the presentation of our financial year 2025 results. And on behalf of the team at Gold Fields, I'm really pleased to deliver a very, very strong set of results for the group. Going into the presentation, I will run through a short presentation that'll be shared between myself and Alex, and then we will spend some time at the back end addressing question ...

Kinross Gold (NYSE:KGC) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Speaker7Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to Kinross Gold fourth quarter and year-end 2025 results conference call and webcast. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply pr ...