#1ENDEAVOUR MINING Corporate Presentation June 2022 W 125 LSE: EDV TSX:EDV OTCQX: EDVMF#2TABLE OF CONTENTS 1 MINING 2 3 4 5 6 ENDEAVOUR Endeavour Overview Results and Outlook Our High Quality Portfolio Being a Trusted Partner West Africa Insights Appendix 2#3DISCLAIMER AND FORWARD-LOOKING STATEMENTS Cash cost per ounce and all-in sustaining cash cost per ounce are non-GAAP performance measures with no standard meaning under IFRS. This presentation contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including but not limited to statements regarding the plans, intentions, beliefs and current expectations of Endeavour with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding Endeavour's expectations regarding Endeavour's ability to create sustainable shareholder value over the long term, and the potential for continued or future dividends. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Endeavour management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Endeavour believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Endeavour. This forward- looking information may be affected by risks and uncertainties in the business of Endeavour and market conditions, including but not limited to: risks related to the successful integration of acquisitions or 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 nationalization of any of Endeavour's property; risks associated with illegal and artisanal mining, environmental hazards; and risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Endeavour has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Endeavour does not intend, and does not assume any obligation, to update this forward- looking information except as otherwise required by applicable law. This information is qualified in its entirety by cautionary statements and risk factor isclosure conta in filings made by Endeavour with the Canadian securities regulators, including Endeavour's annual information form for the financial year ended December 31, 2020 and financial statements and related MD&A for the financial year ended December 31, 2020 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Clinton Bennett, Endeavour's Vice President of Metallurgy and Process Improvement, a Fellow of the Australasian Institute of Mining and Metallurgy, 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. Note: All amounts are in US$, except where indicated, and may differ from the MD&A due to rounding. 3#4ENDEAVOUR OVERVIEW 1 JOH 12 4#5ENDEAVOUR HAS UNMATCHED COMPETITIVE ADVANTAGE IN THE WORLD'S SECOND-LARGEST GOLD PRODUCING REGION ENDEAVOUR MINING Dakar Senegal SABODALA-MASSAWA Conakry 1 Guinea Sierra Leone Largest West African producer Mines Liberia Development Projects Bamako SIGUIRI Mali KALANA میں امتى ITY HOUNDÉ WAHGNION 6 Gold mines Côte d'Ivoire LAFIGUÉ Advanced Exploration B Burkina Faso Ouagadougou MANA BANTOU TANDA-IGUELA Abidjan Regional Office Ghana AFEMA Birimian Greenstone Belt NABANGA Togo Niger BOUNGOU Benin Nigeria Ō 1.3-1.4Moz AISC $880-930/oz 2022 Production Guidance 5#6PEER BENCHMARKING Endeavour is attractive relative to other senior gold producers ENDEAVOUR MINING RELATIVE TO OTHER SENIOR GOLD PRODUCERS 2021 Production 7Moz 6Moz- 5Moz 4Moz 3Moz- 2Moz- 1Moz 20% 2021 Free Cash Flow Yield 10% 10000 0% Newmont Barrick Polyus AngloGold Gold Fields Agnico-Eagle Kinross Newcrest Polymetal Source: Factset, Bloomberg as of February 2022 Northern Star Harmony Endeavour Kirkland B2 Gold Yamana 2021 All-in Sustaining Costs $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 2021 Return on Capital Employed 40% 30% 20% 10% Polyus Kirkland Endeavour Newcrest B2Gold Agnico AGA Polymetal Kinross Barrick Newmont Yamana Gold Fields Northern Star Harmony 0% TIMM Yamana | 9#7OUR STRATEGY Build a resilient business and be a trusted partner with the ability to reward shareholders MAINTAINING A HIGH-QUALITY PORTFOLIO $ Industry-leading operational excellence Proven project development Unlocking exploration value Active portfolio management ENDEAVOUR MINING BEING A TRUSTED PARTNER Employment and training Local procurement & economic development Environmental stewardship Transparent taxes & government ownership REWARDING SHAREHOLDERS Watch CEO video Prudent balance sheet management Competition for capital on a returns basis Focus on increasing per share metrics Compelling shareholder returns proposition 7#8OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES LASTING VALUE TO SOCIETY We do so while protecting and promoting the places where we operate. Our work is a partnership, helping to create resilient and self-sustaining communities, where people are equipped with the skills, knowledge and expertise needed to prosper. We are trusted to unlock the full benefits of the material we mine for all those invested in its discovery and production. ENDEAVOUR MINING MEDIUM IMPACT EMBEDDING THE UN SDGS INTO OUR ESG STRATEGY DIUM IMPACT 117 12.2 MEDIUM IMPACT 15.3 15.5 14 15 16.1 CLIMATE 13 ACTION LIFE BELOW WATER 163 LIFE ONLAND RESPONSIBLE CONSUMPTION AND PRODUCTION 12 16 PEACE JUSTICE AND STRONG INSTITUTIONS 81 20 SUSTAINABLECITIES AND COMMUNITIES 11 323 17 PARTNERSHIPS FOR THE GOALS 1.1 REDUCED INEQUALITIES 10 1 NO POVERTY SUSTAINABLE DEVELOPMENT GOALS INDUSTRY. INNOVATION AND INFRASTRUCTURE 9 1.4 MEDIUM IMPACT ZERO HUNGER 2 8.5 BLG GOOD HEALTH AND WELLBEING AFFORDABLE AND CLEAN ENERGY DECENT WORK 7 AND ECONOMIC GROWTH 8 BB QUALITY EDUCATION 3 CLEAN WATER AND SANITATION GENDER EQUALITY 71 3.1 6 7.2 39 F₂ 5 L LA 4.8 43 51 S.C HIGH IMPACT#9JOD FOCUSED ON BEING A RESILIENT BUSINESS High quality portfolio which generates sufficient cash flow to re-invest in our business and reward our stakeholders PORTFOLIO OBJECTIVES <$900/oz All-in sustaining cost +10 YEARS Production visibility from operating assets +1.5Moz Annual production Diversification across multiple countries and mines With strong capital allocation discipline 04 Active Portfolio Management PORTFOLIO OPTIMIZATION PILLARS L 01 Operational Excellence 03 Unlocking Exploration Value ENDEAVOUR 2² MINING } 02 Project Development 9#101 SUPERIOR OPERATING MODEL OPERATIONAL EXCELLENCE Geographic focus provides a strong competitive advantage OPERATING MODEL > Largest producer in each of our operating countries enhances ability to extract synergies Dakar > Significant synergies from shared technical functions Senegal 1hr 30 SABODALA-MASSAWA > Hands-on management model with teams close to operations > Long-standing and trusted stakeholder relationships > Airstrips on each site enhance security and ability to quickly provide management expertise Guinea Sierra Leone Liberia Mali Bamako ITY HOUNDÉ WAHGNION Côte d'Ivoire 1hr 35 1hr 45 2hrs Burkina Faso Ouagadougou MANA Abidjan Regional Office 2hrs Ghana Togo Niger BOUNGOU Benin Ni ENDEAVOUR MINING MANAGEMENT TRACK RECORD +9 years Meeting or exceeding production & AISC guidance 10#112 PROJECT DEVELOPMENT PROJECT PIPELINE Strong competition for capital on a returns basis across the portfolio Long-term upside FROM GREENFIELD EXPLORATION +110 TARGET CRITERIA EXPLORATION PROPERTIES <$25/oz discovery costs +10-year mine life potential Near-term growth FROM PROJECTS 6 PROJECTS TARGET CRITERIA +20% after-tax IRR at $1,300/oz Targeted portfolio criteria: >200koz per year Immediate cash flow FROM PRODUCTION 6 MINES TARGET CRITERIA +20% ROCE AISC <$900/oz ENDEAVOUR MINING 11#122 STRONG CONSTRUCTION TRACK RECORD Five recent builds integrated within our business PROJECT DEVELOPMENT AGBAOU, CÔTE D'IVOIRE, BUILT IN 2014 Built by Endeavour BOUNGOU, BURKINA FASO BUILT IN 2018 HOUNDÉ, BURKINA FASO BUILT IN 2017 Built by SEMAFO WAHGNION, BURKINA FASO BUILT IN 2019 ITY CIL, CÔTE D'IVOIRE BUILT IN 2019 Built by Teranga 471771 ENDEAVOUR MINING TRACK RECORD safely with zero LTIs on-schedule in <18 months & on-budget 12#132 KEY PROJECTS PROJECT DEVELOPMENT Sabodala-Massawa expansion underway; progressing DFS on greenfield projects DFS INSIGHTS: Construction commenced in Q2-2022, first gold from the BIOX® plant expected in early 2024 ■ ■ Incremental annual production of 194koz over the first five years at a low AISC of $531/oz ■ BROWNFIELD PROJECT: SABODALA-MASSAWA EXPANSION ■ ■ BIOX® project initial capex: $290m After-tax NPV5% & IRR at $1,500/oz: $861m, 72% Lifts Sabodala-Massawa complex to top tier status GREENFIELD PROJECT: LAFIGUÉ ON FETEKRO PROPERTY PFS INSIGHTS: ■ Mine life: 10 years ■ LOM AISC: $838/oz PANGOR ▪ Average annual production: 209koz Initial Capex: $338m ▪ After-tax NPV5% & IRR at $1,500/oz: $497m, 33% DFS due Mid-2022 PFS INSIGHTS: ■ Mine life: 11 years ■ LOM AISC: $901/oz ■ GREENFIELD PROJECT: KALANA ENDEAVOUR MINING Average annual production: 150koz Initial Capex: $297m After-tax NPV 5% & IRR at $1,500/oz: $331m, 49% ▪ Acquisition price: circa $120m DFS due H2-2022 13#143 A STRONG EXPLORATION TRACK RECORD 6 Achieved 5-year discovery target of 10-15Moz UNLOCKING EXPLORATION VALUE Total Indicated discoveries and targets Indicated resources discovered Exploration spend 1.0Moz H2-2016A 1.3Moz 2017A $44m 1.9Moz 2018A $53m Note: Details on exploration targets are available in Appendix 3 2.1Moz 2019A $49m 2.2 Moz 2020A $65m 11.5Moz 3.0Moz Discovered 2021A $90m Total ENDEAVOUR MINING 11.5Moz Discovered from mid-2016 to 2021 <$25/oz Discovery cost 3x lower than industry average 14#153 LARGEST EXPLORATION PRESENCE IN WEST AFRICA 6 UNLOCKING EXPLORATION VALUE Endeavour has a strategic foothold in two of West Africa's most prospective belts THE LARGEST FOOTHOLD ON THE HOUNDÉ BELT Birimian Greenstone Belts Tarkwaian Type Sediments Exploration permits JV Exploration Permits Mining Permits ●Deposits Targets Km LIBERIA 100 Wahgnion Mine Banfora Greenstone FULL CONTROL OF 125KM STRETCH ALONG THE ITY BIRIMIAN BELT Toulepleu Bin Houye BURKINA FASO Toulepleu-Ity Greenstone Gulamapleu Granite Gneiss Cavsly River Houndé Greenstone Ity Mine Floleu Houndé Mine Bantou Exploration Cavally River Toulepleu-ity Greenstone Tiepleu Golden Hill Exploration Mana Mine Gneissic Basement Km Boromo Greenstone I MAHAPLEU ★ CÔTE D'IVOIRE Birimian Greenstone Belts Mining Permits Exploration permits Deposits Targets GHANA 25 Dakar Senegal SABODALA-MASSAWA Conakry Guinea Sierra Leone Liberia Mines Bamako SIGUIRI Mali KALANA س أمناء TY HOUNDÉ WAHONION Development Projects LAFIGUÉ Côte d'Ivoire Burkina Faso Ouagadougou MANA BANTOU Abidjan Regional Office Ghana TANDA-IGUELA AFEMA Advanced Exploration ENDEAVOUR MINING NABANGA Togo Niger BOUNGOU Benin Birimian Greenstone Belt Nigeria 15#1636 PROVEN RANKING AND SCREENING METHODOLOGY UNLOCKING EXPLORATION VALUE Based on techniques used in the oil and gas sector All targets Selection of top targets Sum of all risked Mean Indicated Oz represent the best estimate of what can be expected from Portfolio MINING Top 70 targets ENDEAVOUR Exhaustive screening based on geological data and first selection • VTEM • Core • Drill results • Geological interpretation • Geophysics • Geochemistry 15-20Moz risked Indicated resource potential 150 targets Selecting most relevant targets in portfolio with higher POO¹ which can be explored in the next 5 years (1) POO means the probability of occurrence Screened through multi- criteria data analysis to set targets amenable to AISC <$900/oz • Grade • Strip ratio • Metallurgy • Production costs Up to 25Moz Risked mean Indicated resource potential Exploration budget required per target to reach Indicated resource level status - Globalized 5-year budget and related discovery cost 110 Main targets Applying a min / mean / max distribution and then a probability of occurrence for the mean value (Length x width x 100/150m depth x thickness x density x average grade issued from existing drilling or nearby analogs calibration) Then Apply a POO for each target and Sum all Risked Indicated Oz per target Strategic Priority to establish 5-year program Watch video 16#173 STRONG EXPLORATION TRACK RECORD 6 Targeting discovery of more than 2x production depletion over 2021-2025 period UNLOCKING EXPLORATION VALUE 5-year resource discovery target Risked mean Indicated resource discovery target (2021-2025) M&I resource as at 31 December, 2020 $/oz Target discovery cost $26/oz 2.3 to 2.7Moz 6.6Moz Sabodala- Massawa $19/oz 3.0 to 4.0Moz 4.6Moz Houndé $17/oz 3.5 to 4.5Moz 3.8Moz Ity $30/oz 1.0 to 1.5Moz 3.0Moz Mana $45/oz 1.5 to 2.0Moz 2.5Moz Fetekro ($14/oz 1.2 to 1.8Moz 2.3Moz $25/oz 1.5 to 2.0Moz 2.2Moz Greenfields¹ Wahgnion $32/oz 1.0 to 1.5Moz 1.5Moz Boungou ENDEAVOUR 15-20Moz Exploration target (2021-2025) Sabodala-Massawa 21% 2022 Exploration Budget Wahgnion 12% MINING $80 million Greenfields and other 21% Ity 14% Hounde 20% Boungou 4% Mana 9% (1) Based on the conservative assumption only 1 successful Greenfields discovery. Targeted Indicated resources are based on average tonnage and average gold grades of 24-48Mt at 1.5-3.5g/t for Sabodala-Massawa, 25-67Mt at 1.4 - 5.0g/t for Houndé, 47-54Mt at 2.0-3.0g/t for Ity, 12-24Mt at 1.3-4.0 g/t for Mana, 18-49Mt at 0.95 -3.5g/t for Greenfield, 21-28Mt at 1.8-2.0g/t for Fetekro, 21-39Mt at 1.2-3.0g/t for Wahgnion and 19-21Mt at 1.5-2.5g/t for Boungou.. The potential quantity of ounces is conceptual in nature since there has been insufficient exploration to define a mineral resource and it is uncertain if exploration will result in the targets being delineated as a mineral resource. 17#184 ACTIVE PORTFOLIO MANAGEMENT Key achievements across 4 pillars FOCUSED ON LONG LIFE AND LOW AISC ASSETS Divested non-core assets and integrated five mines Realized synergies Met guidance Integrated 5 mines Divested / sold 5 mines Operational Excellence Active Portfolio Management Acquired Kalana Group metrics Production visibility Annual production All-in sustaining cost Built Houndé 2 Project Development Unlocking Exploration Value 2015 PROFILE 4 years 517koz $922/oz Built Ity Extended mine lives Discovered Lafigué project 2022 PROFILE +10 years 1.3-1.4Moz $880-930/oz Endeavour's Portfolio Core Mine¹ Karma Ity HL Agbaou Tabakoto Youga (1) Production and AISC based on 2022 guidance (mid-point), mine life calculated from reserves as at December 31st, 2021 (2) Projects based on LOM as per published 2021 PFS Divested / Ceased Mine Nzema Wahgnion Boungou Lafigué Mana Project² Houndé Kalana 10 Mine Life, yrs Ity ENDEAVOUR MINING Sabodala-Massawa AISC, $/oz 1,300 20 1,200 1,100 1,000 900 800 700 600 18#19PRODUCTION OUTLOOK Ability to grow high-quality production while maintaining AISC <$900/oz PRODUCTION AND ALL-IN SUSTAINING COSTS For discontinued operations For continuing operations¹ 2013A 2014A 2015A 2016A P 2017A 2018A 2019A 2020A 1.5Moz $885/oz 2021A 1.4-1.5Moz 1.3-1.4Moz <$900/oz $880-930/oz Gooooooooo 2022E Guidance 2023E ENDEAVOUR (1) Production stated on a 100% basis. Assumes first production from Sabodala-Massawa Expnasion in 2024, along with first production from Lafigué in 2024 and Karma ceasing production in 2022. MINING +1.5M <$900/oz 2024E Outlook +1.6Moz <$900/oz 2025E 19#20STRONG CASH GENERATION Provides ability to fund capital allocation priorities Operating Cash Flow and CAPEX Operating Cash Flow Capital Expenditures¹ Realized Gold Price $223m $440m 2017 $1,199/oz INVESTMENT PHASE $251m $412m 2018 $1,228/oz $302m $233m 2019 $1,358/oz CASH FLOW PHASE $749m $237m 2020 $1,760/oz (1) Capital Expenditures=Sustaining Capital + Non-Sustaining Capital + Sustaining & Non-Sustaining Exploration + Growth Capital Notes: 2021 excludes Agbaou which was divested on March 1st, 2021 $1,175m $523m 2021 $1,773/oz ENDEAVOUR MINING +$426m Operating CF FY-2021 vs. FY-2020 +57% Operating CF FY-2021 vs. FY-2020 20#21EVOLUTION OF CAPITAL ALLOCATION PRIORITIES Resilient business capable of funding growth and rewarding stakeholders Key Focus Buybacks Dividend Strengthen balance sheet¹ Exploration Growth projects Economic contributions to Government Sustaining & non-sustaining INVESTMENT PHASE 2016-2019 (total) $179m $788m $710m $317m DEBT REDUCTION PHASE 2020 $60m $607m $65m $8m $609m $166m CAPACITY TO FUND ORGANIC GROWTH AND REWARD SHAREHOLDERS 2021 $138m $140m $238m $90m $63m $598m $376m (1) 2020 Net debt position from Q1-2020 to end Q4-2020 2021, 2021 Net debt position from end Q1-2021, after the Teranga transaction, to end Q4-2021 ENDEAVOUR MINING $278m Shareholder returns paid for FY-2021 +$218m! Shareholder returns FY-2021 vs FY-2020 21#22BALANCE SHEET STRENGTH Strong cash generation supports growth and shareholder returns Net Cash and Shareholder Returns (Net Debt)/ Net Cash INVESTMENT PHASE ($660m) # ($473m) Buybacks DEBT REDUCTION PHASE ($175m) Dividends $75m Q2-2019 Q2-2020 Q3-2020 Q4-2020 $60m SHAREHOLDER RETURNS PHASE WITH ABILITY TO FUND GROWTH $59m ($77m) ($162m) c. $332m of Net Debt assumed from Teranga $35m $70m ($70m) $76m $44m $167m $31m $70m Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 ENDEAVOUR MINING +$90m Net Cash added in Q1-2022 $369m Shareholder returns since Q1-2021 22#23ATTRACTIVE SHAREHOLDER RETURNS PROGRAMME Minimum dividend commitment of +$500m for FY-2020 to 2023 SHAREHOLER RETURNS POLICY Minimum Progressive Dividend > Provides dividend visibility during growth phases > Payable semi-annually if gold price remains above $1,500/oz. Below that, dividend will be discretionary based on balance sheet strength + Supplemental Shareholder Returns > Potential to continue to pay higher dividend and pursue opportunistic share buyback program if leverage is below 0.5x Net Debt / EBITDA Progressive Dividend Policy Supplemental Dividend Minimum Dividend Paid Minimum Dividend Committed $60m ($0.37/sh) FY-2020A $140m ($0.57/sh) FY-2021A $150m FY-2022E ENDEAVOUR MINING $175m FY-2023E 23#24ATTRACTIVE SHAREHOLDER RETURNS PROGRAMME Returning significant value to shareholders FY-2021 shareholder returns declared Minimum Dividend Buyback $278m $125m $138m Supplemental Dividend $15m (1) Based on market capitalization dated 14 March 2022 Shareholder returns in context of FY-2021 results PRODUCTION $180/oz returned for every ounce of gold produced OPERATING CASHFLOW 24% of operating cash flow distributed NET INCOME $ REVENUE 10% of revenue distributed 48% of adj. net income distributed ENDEAVOUR MINING INDICATIVE YIELD 4.6% based on dividends and buybacks¹ 24#25ATTRACTIVE SHAREHOLDER RETURNS PROGRAMME Minimum progressive dividend provides visibility during growth phase INSIGHTS > In 2021, Endeavour implemented a shareholder returns programme that is composed of a minimum progressive dividend of: - FY-2021: $125m (whereas $140m was paid inclusive of excess returns) FY-2022: $150m - FY-2023: $175m > During Q1-2021, Endeavour paid its H2- 2021 dividend of $70m ($0.28 per share), totalling $140m ($0.56 per share) for FY-2021, which represents $15m more than the minimum dividend commitment In Q1-2022, EDV bought back 1.3 million shares for $31m. To date, a total of 7.4 million shares have been repurchased for a sum of $169m since the start of the buyback programme on 9 April 2021 Cumulative Shareholder Returns Programme $200m Cumulative Dividends paid to-date $169m Cumulative Buybacks made to-date $369m Cumulative returns to-date +$150m FY-2022 +$175m FY-2023 Minimum Dividend Commitment ENDEAVOUR MINING $694m + excess returns Minimum Expected Returns (FY 2020-2023) 25#26ATTRACTIVE SHAREHOLDER RETURNS PROGRAMME Most aggressive share buyback program amongst peers Indicative yield for shareholder returns¹ FY-2021 Share Buyback FY-2021 Dividend 8% 7% 6% 5% 4% 3% 2% 1% 0% Polyus Endeavour² Newmont³ B2Gold Kinross³ Fresnillo Barrick Yamana Gold 3,4 Agnico Eagle5 Gold Fields Northern Star Newcrest Harmony Gold AngloGold ENDEAVOUR MINING $138m in share buybacks for FY-2021 (1) Factset as at 23 March 2022, latest company filings. (2) Endeavour's returns based on minimum FY-2021 dividend (US$140m + US$138m buyback completed as at 31 December 2021) and Market Cap of US$6.2Bn as at 23 March 2022. (3) Buyback yield as at Q4-2021. (4) Buyback yield assuming USD/CAD FX of 1.26. (5) Includes Kirkland Lake's dividend and buyback returns as at Q3-2021. 4.5% Indicative yield of dividends and buybacks 26#27RETURN ON CAPITAL EMPLOYED Significant improvement following build of our Ity and Houndé mines Return on Capital Employed (ROCE)¹ 6% 6% 000 2018 10% 2017 2019 20% 2020 18% 2021 (1) EBIT (Adjusted EBITDA as in MD&A less depreciation and amortization) divided by average capital employed (total assets less current liabilities) Note: See Appendix 4 for details ENDEAVOUR MINING ROCE IMPROVEMENT EXPECTED WITH OPTIMISATION OF ACQUIRED ASSETS +20% ROCE target with strong capital allocation discipline 27#28RETURN ON CAPITAL EMPLOYED Expected to improve ROCE with optimisation of acquired assets Return on Capital Employed by asset Wahgnion 10% Boungou 10% Mana 10% Houndé 9% Capital Employed Other 9% Sabodala-Massawa 43% Ity 8% High ROCE for legacy assets following build and exploration success ITY 6% 2018 HOUNDÉ 27% 2018 2019 35% 2020 41% 2021 44% 8-10 28% 14% 2019 2020 42% 2021 ROCE (Adjusted EBITDA as in MD&A less depreciation and amortization) divided by average capital employed (total assets less current liabilities) (1) For the post acquisition period commencing February 10, 2021, expressed as an annualized rate MANA Expected to increase ROCE on acquired assets with exploration and optimisation 22% 2020 10% 18% SABODALA-MASSAWA¹ 2021 2021 ENDEAVOUR MINING BOUNGOU 14% 2020 WAHGNION¹ 11% 2021 14% 2021 28#29LARGEST LSE PREMIUM LISTED PURE GOLD COMPANY Well positioned against LSE listed peers Production for London Stock Exchange listed gold producers¹ Gold Silver in gold equivalent Market cap (£bn) 3.0Moz 2.5Moz 2.0Moz 1.5Moz 1.0Moz 0.5Moz 0.0Moz 5.1 Endeavour D] Polymetal Premium Segment (5.8 I I Fresnillo 0.1 Petropavlovsk 1.1 Centamin 0.7 Hochschild Standard Segment 4.6 (1) Precious metals focused producers. Gold and gold equivalent production based on 2021 actuals. Market capitalization as of 21 April 2022 (2) Includes London Stock Exchange and CBOE CXE, BXE and OTC. ENDEAVOUR MINING FTSE100 Inclusion gained in Q1-2022 +30% Proportion of free float shares held on UK Crest system | 29#30ABILITY TO REWARD SHAREHOLDERS ACROSS CYCLES Underpinned by a resilient business, disciplined capital allocation and a strong competitive advantage in West Africa High Quality Portfolio +1.5Moz production at <$900/oz AISC +10-year production visibility RESILIENT BUSINESS Diversification across multiple countries and mines +20% ROCE ENDEAVOUR MINING Being a Trusted Partner Employment and training Local procurement & economic development Environmental stewardship Transparent taxes & government ownership + Prudent Balance Sheet Management $ Expected to reach $250m net cash in short term Long-term target of <0.5x Net Debt/EBITDA DISCIPLINED CAPITAL ALLOCATION Organic Growth % Mine life extensions with brownfield exploration Greenfield exploration to discover new projects New mine builds and expansion projects Shareholder Returns Program Minimum Watch video progressive dividend Supplemental buybacks and dividends with excess cash 30#31UPCOMING CATALYSTS Mid 2022 Q3 2022 Q3 2022 H2O 2022 Lafigué Shareholder Returns Mana Exploration Completion of Definitive Feasibility Study for Lafigué project at Fetekro Declaration and Payment of H1-2022 dividend Wona Underground first stope production Exploration programme results and resource updates ENDEAVOUR MINING | 31#32RESULTS AND OUTLOOK 22 WX 32#33Q1-2022 HIGHLIGHTS Strong quarter delivering against key objectives SIL STRONG OPERATIONAL PERFORMANCE Well positioned to meet guidance with 357koz produced at an AISC of $848/oz in Q1-2022 M ROBUST ORGANIC GROWTH Launched Sabodala-Massawa expansion On-track to discover 15-20Moz of Indicated resources over next 5 years $ HEALTHY FINANCIAL POSITION Net cash position increased by $90m in Q1-2022 to $167m ESG INITIATIVES Upcoming publication of 2021 sustainability report to highlight larger ESG ambitions ENDEAVOUR RETURNS MINING ATTRACTIVE SHAREHOLDER $70m dividend paid and $31m worth of shares repurchased in Q1-2022 PORTFOLIO MANAGEMENT Sale of non-core Karma mine and optimization initiatives at continuing operations 33#34WELL POSITIONED TO MEET 2022 GUIDANCE Strong performance across all operating metrics GROUP LTIFR¹ GROUP PRODUCTION (For continuing operations) GROUP AISC (For continuing operations) 357 koz J Q1 $848/oz Q1 - 0.15 LTM $880/oz Guidance 1.08 Industry Average² (1) Lost Time Injury Frequency Rate= (Number of LTIs in the Period X 1,000,000)/(Total man hours worked for the period) (2) Global Mining Research, FY-2020 $930/oz 1,315-1,400koz Guidance ENDEAVOUR MINING INDUSTRY LEADING ON TRACK ON TRACK 34#35QUARTERLY PRODUCTION AND AISC Q1-2022 performance was better than budgeted Production and AISC Production from all operations 347koz $868/oz Q1-2021 409koz $853/oz Q2-2021 Discontinued operations 382koz $904/oz Q3-2021 AISC from all operations 398koz $915/oz Q4-2021 367koz $866/oz Q1-2022 ENDEAVOUR MINING +6% Production Q1-2022 vs. Q1-2021 -$2/oz AISC Q1-2022 vs. Q1-2021 35#36QUARTERLY OPERATING CASH FLOW Benefiting from operational discipline and a high gold price Operating cash flow before changes in WC Realized Gold Price $263m $1,749/oz Q1-2021 $286m $1,791/oz Q2-2021 $327m $1,763/oz Q3-2021 $316m $1,787/oz Q4-2021 $370m $1,911/oz Q1-2022 (Excludes Karma) ENDEAVOUR MINING +$107m Operating CF Q1-2022 vs. Q1-2021 +41% Operating CF Q1-2022 vs. Q1-2021 36#37OPERATING CASH FLOW Decreased due to timing of working capital Operating cash flow from continuing operations bridge $345m Q4-2021 operating cash flows 1 A$45m Gold price 2 (A$20m) Production and associated expenses 3 A$29m Operating expenses and other¹ 4 A$13m Income taxes paid 5 (A$112m) Difference in changes in working capital $299m Q1-2022 operating cash flows ENDEAVOUR MINING INSIGHTS 1. The realised gold price for continuing operations increased by $124/oz from $1,787/oz in Q4-2021 to $1,911/oz in Q1-2022 2. Gold sold decreased by 31koz from 390koz in Q4-2021 to 359koz in Q1- 2022 3. Operating expenses and other items decreased by $29m over Q4-2021, largely driven by lower salaries paid. 4. Income taxes paid decreased by $13m over Q4-2021 to $29m in Q1-2022, due to the inclusion of a one-off payment of $12m related to the settlement of a tax assessment for the Massawa project in Q4-2021 5. Working capital was an outflow of $70m in Q1-2022, a decrease of $112m over Q4-2021 mainly due to an increase in stockpiles, a decrease in trade and other payables and an increase in trade and other receivables. (1) Operating expenses and other include operating expenses, royalties, corporate costs, acquisition and restructuring, exploration costs, foreign exchange, settlement of other financial assets and liabilities, settlement of DSUS, PSUs and options and other cash expenses. 37#38Power TACKLING INFLATIONARY PRESSURES Shielded in Q1-2022 due to fuel pricing mechanism and long-term contracts Other costs Logistics Drilling Royalties Salaries Spares All-in cost breakdown Fuel > 75% of Endeavour's fuel exposure is LFO. HFO is only used at Boungou, Waghnion, and Sabodala-Massawa with optionality to switch gensets to LFO > Fuel price is regulated by in-country based pricing mechanisms where prices are revised on a monthly or quarterly basis, which shelters Endeavour from paying peak spot international fuel prices Contractors > Impact in Q1-2022 has been limited and we expect a price increase in Q2-2022, estimated to represent approx. $40/oz Q4-2021 Average fuel price variance, $/L Q1-2022 +16% 1.06 1.22 Burkina Faso LFO +9% 0.85 0.92 +2% 0.90 0.92 ENDEAVOUR Burkina Cote Faso HFO d'Ivoire LFO MINING -2%) 0.89 0.87 Senegal LFO +9% 0.61 0.67 Senegal HFO +29% 0.47 Brent Crude 0.61 Consumables > Contract length, price variations provision and size helps to mitigate inflationary pressures on key consumables. More than 70% of our procurement is sourced in-country and many contracts have delivered-to-site pricing; this has limited higher freight cost impact > Cyanide, which represents 3-4% of the cost base, has experienced no price variation due to long-term contracts in place > Explosives, which represents 3-4% of the cost base, increased by ~40% in Q1-2022 compared to Q4-2021, which represented an impact of approx. $10/oz › Grinding media, which represents <2% of the cost base, has experienced no price variation due to long-term contract in place in Q1-2022 and is expected to increase by <5% in Q2-2022 representing <$2/oz > Lime, which represents <1% of the cost base, has experienced no price variation due to long-term contract in place in Q1- 2022 and is expected to increase by 8% in Q2-2022 representing <$1/oz Other offsetting factors > Favourable FX variation as the Euro has decreased by 3% compared to the US$ in Q1-2022, given that approximately 65% of the operating cost base is in local currency, which is linked to the Euro > Several cost optimization and efficiency improvement initiatives are ongoing across the group 38#39CHANGE IN NET CASH Continuing to grow our net cash position Net Cash variation analysis $76m Net cash position at end of Q4-2021 $304m ($94m) Operating Investing activities activities ($100m) ($20m) Financing Effect of FX activities changes on cash $167m Net cash position at end of Q1-2022 > ENDEAVOUR INSIGHTS Q1-2022 operating activities included $370m in operating cashflow before changes in working capital, a $70m change in working capital, and $5m generated from discontinued operations MINING > > Q1-2022 financing activities included $31m of share buybacks and $70m of dividends paid Q4-2021 investing activities included $31m spend on sustaining capex, $42m on non- sustaining capex and $8m on growth projects among other items > Robust net cash position of $167m at quarter-end despite $31m of share buybacks and $70m in dividends paid during the quarter > At quarter-end, Endeavour's liquidity remained strong with $1,047m of cash on hand and $450m undrawn on the RCF 39#40NET EARNINGS FROM CONTINUING OPERATIONS Adjusted EPS increased in Q1-2022 compared to Q4-2021 INSIGHTS 1. Corporate costs decreased during the quarter primarily due the cessation of costs associated with corporate integration and the LSE listing that were previously incurred. 2. The loss on financial instruments was $179m million in Q1-2022 mainly due to an unrealised loss on gold forward sales of $79m and an unrealised loss on gold collars of $44m. In addition, the loss included a foreign exchange loss of $20m, an unrealised loss on the revaluation of the conversion option on convertible notes of $18m, a realised loss on gold forward sales of $7m, a loss on change in fair value of the call rights of $4m, a loss on early redemption feature of senior notes of $4m, and a loss on change in fair value of warrant liabilities of $3m. 3. For Q1-2022, current income tax increased to $75m due largely to increased tax expenses at Mana which were due to an increase in taxable income relative to a reduction in tax provisions in Q4-2021 and at Sabodala-Massawa where a tax expense related to the start-up of mining at the Massawa pits was incurred. (in $ million) A = Adjustments made for Adjusted Net Earnings EARNINGS FROM CONTINUING MINE OPERATIONS Corporate costs A Acquisition and restructuring costs Impairment charge of mining interests Share based compensation Exploration costs EARNINGS FROM CONTINUING OPERATIONS A (Losses)/gains on financial instruments Finance costs Other income (expenses) A Current income tax expense Deferred taxes recovery (expense) TOTAL NET AND COMPREHENSIVE EARNINGS (LOSS) FROM CONT. OPS Add-back adjustments¹ ADJUSTED NET EARNINGS/(LOSS)² Portion attributable to non-controlling interests² ADJUSTED NET EARNINGS PER SHARE FROM CONTINUING OPERATIONS² 1 2 3 ENDEAVOUR (1) Other adjustments not annotated (A) on this slide are non-cash and other adjustments (2) Additional notes available in Endeavour's Management Report. (3) adjusted for continuing operations MINING 3 MONTHS ENDED 31 March, 2022 276 (14) (8) (7) 247 (179) (15) (2) (75) (11) (35) 180 145 22 0.49 31 December, 2021³ 203 (20) (1) (248) (7) (5) (78) 19 (25) (3) (38) 34 (92) 235 142 (6) 0.59 40#412022 GUIDANCE INSIGHTS > The Group is well positioned to achieve its FY-2022 production and AISC guidance for continuing operations of 1,315-1,400koz at an AISC of $880-930 per ounce. > Inflationary pressures have been partially offset by favourable exchange rate variations, long-term supply contracts, production and cost optimisation initiatives, and the benefit of regulated in-country fuel pricing mechanisms where prices are revised on a monthly or quarterly basis, which shelters Endeavour from paying peak spot international fuel prices. Consolidated Production Guidance (All amounts in koz, on a 100% basis) Ity Houndé Mana Boungou Sabodala-Massawa Wahgnion PRODUCTION FROM CONT. OPERATIONS¹ Consolidated AISC Guidance (All amounts in US$/oz) Ity Houndé Mana Boungou Sabodala-Massawa Wahgnion Corporate G&A Sustaining exploration AISC FROM CONT. OPERATIONS¹ (1) 2022 guidance from continuing operations excludes production from the Karma mine, which was divested on 10 March 2022 255 260 170 130 360 140 1,315 880 850 875 1,000 900 675 1,050 2022 FULL-YEAR GUIDANCE | | | ||||| ENDEAVOUR ||||||||| MINING 30 270 275 190 140 375 2022 FULL-YEAR GUIDANCE 150 1,400 900 925 1,100 1,000 725 1,150 930 41#422022 GUIDANCE (Continued) INSIGHTS > Sustaining capital for 2022 is expected to amount to $169 million, compared to a spend of $167 million in 2021 > Non-sustaining capital for 2022 is expected to amount to $204 million compared to a spend of $214 million in 2021 Sustaining > Houndé: Waste extraction and fleet re-builds > Ity: Mainly relating to capitalised waste > Sabodala-Massawa: Capitalised waste, fleet re-builds, new mining equipment, and increased production profile > Wahgnion: Waste extraction and equipment re-builds > Bongou: Stripping at the West pit in 2022 Non-Sustaining > Houndé: Stripping, compensation, resettlement and mine infrastructure in the Kari area Ity: processing plant enhancements, land compensation, stage 4 TSF raise, and the Recyn initiative > Boungou: Mainly a significant cut back at the East pit > Mana: Wona UG and associated infrastructure and a TSF raise > > Sabodala-Massawa: Ongoing relocation, infrastructure, and establishment works for the Massawa pits > Wahgnion: Infrastructure and community projects Growth > $121 million primarily related to the BIOX project at Sabodala- Massawa and a small portion allocated to work done on the Lafigué DFS (All amounts in US$m) Ity Houndé Mana Boungou Sustaining and Non-Sustaining Capital Expenditure Guidance 2022 FULL-YEAR GUIDANCE Sabodala-Massawa Wahgnion Non-mining CAPITAL EXPENDITURES - CONT. OPERATIONS¹ Exploration Guidance (All amounts in US$m) Ity Houndé Mana Boungou Sabodala-Massawa Wahgnion MINE SUBTOTAL Greenfield TOTAL¹ (1) 2022 guidance from continuing operations excludes production from the Karma mine, which was divested on 10 March 2022 (2) Includes expensed, sustaining, and non-sustaining exploration expenditures. SUSTAINING CAPITAL 2022 GUIDANCE² 15 14 6 4 15 9 65 15 80 ENDEAVOUR 20 44 7 15 63 20 0 169 MINING NON-SUSTAINING CAPITAL 60 18 40 19 34 23 10 204 42#43OUR HIGH QUALITY PORTFOLIO 3 OUR HERCULES ERCULES KOMATSU Watch video 43#44DIVERSIFIED PORTFOLIO OF SIX MINES NAME Houndé Ity Boungou Mana Sabodala- Massawa COUNTRY Burkina Faso Côte d'Ivoire Burkina Faso Burkina Faso Senegal Wahgnion Burkina Faso 2022 Guidance MINE PRODUCTION (koz) Note: See Appendix 3 for more details on Reserves & Resources 260-275 255-270 130-140 170-190 360-375 140-150 AISC (US$/oz) 875-925 850-900 900-1,000 1,000-1,100 675-725 1,050-1,150 P&P RESERVES as at Dec 31, 2021 CONTAINED GOLD (Moz) 2.51 2.98 1.11 1.16 4.44 1.06 GRADE (g/t) 1.66 1.47 3.51 3.14 2.08 1.52 CONTAINED GOLD (Moz) M&I RESOURCES as at Dec 31, 2021 5.17 4.48 1.38 2.29 6.88 ENDEAVOUR 1.94 MINING GRADE (g/t) 1.55 1.56 3.85 1.89 1.94 1.48 44#45WELL POSITIONED TO MEET 2022 GUIDANCE Strong performance across the portfolio Sabodala-Massawa PRODUCTION Ity AISC - PRODUCTION AISC — Boungou 96koz AISC 1 Q1 Q1 $578/oz $675/oz 72koz Q1 34koz PRODUCTION ▪ Q1 $850/oz Q1 $728/oz $900/oz Q1 $901/oz Guidance Guidance Guidance 360-375koz + $725/oz 255-270koz + $900/oz 130-140koz + $1,000/oz Houndé 73koz PRODUCTION Q1 Mana AISC AISC 53koz PRODUCTION +01 Wahgnion $875/oz Q1 $768/oz 29koz PRODUCTION Q1 AISC $1,000/oz Q1 $1,000/oz $1.050/oz Guidance Guidance Guidance ENDEAVOUR MINING 260-275koz + $925/oz 170-190koz + $1,100/oz 140-150koz $1,150/oz Q1 $1.351/oz 45#46★ SABODALA-MASSAWA MINE Senegal Overview MINING Quick Facts Timeline ENDEAVOUR 360-375koz 2022 Target Production The Sabodala-Massawa complex has potential to become a top tier asset with long mine life, high grade, low cost and significant exploration potential. Ownership Existing and well-established infrastructure at Sabodala, having produced +2Moz in the last decade, to be upgraded and optimised for Massawa integration. 90% EDV 10% Senegal 2010 $675-725/oz 2022 Target Teranga Gold acquired Sabodala gold mine 2009 First gold poured AISC Mining Type Open pit / Owner Mining Underground potential 2012 2016 COO video presentation Processing Rate Construction of the Sabodala-Massawa expansion is planned to begin in Q2-2022 with first production from the new 1.2Mtpa BIOX® plant expected in early 2024. 4.4Moz As at December 31, 2021 P&P Reserves EDV expects incremental production of 1.35Moz at a low AISC of $576/oz over the life of the BIOX® Expansion Project 4.0Mtpa CIL plant 1.2Mtpa for refractory ore treatment (ROT) to be constructed First mill expansion completed, doubling milling capacity (2-4Mtpa) O Completed second mill expansion, increasing capacity to 4.3-4.5Mtpa 2020 Website Royalty 5% 2020 In March 2020, Teranga acquired the neighboring Massawa project from Barrick Latest technical report 2022 E 6.9Moz As at December 31, 2021 M&I Resources SENEGAL Sabodala- Massawa Mine Corporate Tax 25% In August 2020, Teranga published the PFS for the Sabodala-Massawa project BIOX® expansion project construction launched 46#47● ● ★ KEY OPPORTUNITIES ● SABODALA-MASSAWA MINE Senegal Debottlenecked the CIL plant back-end in 2021 BIOX® plant construction to commenced in Q2-2022, first gold expected H1-2024 Discovery of additional non-refractory ore in the short term, including the conversion of previously discovered 709 koz of resources In pit backfilling of the Sabodala pit reducing capex requirements PRODUC ION AND AI (includes production for the pre-acquisition date) 245koz $867/oz 2018A 241koz MINING $857/oz 2019A ENDEAVOUR 229koz AISC ($/oz) $885/oz 2020A 381koz $645/oz 2021A Production (koz) 360-375koz $675 725/oz 2022E Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources COO video presentation RESERVES AND RESOURCES AS AT DEC. 31, 2021 2021 EMISSIONS INTENSITY kgCO2eq/oz produced Sabodala Endeavour Industry Average¹ 510 E 540 900 Website Tonnage (Mt) 19.9 46.5 66.4 21.2 88.9 110.1 24.3 Sabodala kgCO2eq/t processed Endeavour Industry average (open pit)² Grade (Au g/t) Latest technical report 1.36 2.39 2.08 1.32 2.09 1.94 2.16 (1) 2020 and 2021 weighted average GHG emissions intensity (Scope 1 & 2). S&P Global, Company Filings. (2) 2019 industry average, S&P Global, Company Filings. 25 32 Content (Au koz) 866 3,574 4,440 900 5,977 6,877 1,682 51 47#48> ★ Q1-2022 vs Q4-2021 INSIGHTS > Production decreased from 105koz in Q4-2021 to 96koz in Q1-2022 primarily due to the lower average grade milled and slightly lower recoveries and mill throughput. SABODALA-MASSAWA MINE Lowest AISC achieved since acquiring the mine > Mining was focussed on the Sofia North, Sofia Main and the Sabodala pits, whilst activity at the Massawa Central Zone is ramping up. Tonnes milled decreased slightly due to an increased proportion of fresh ore from the Sofia Main and Sofia North pits in the feed, which was partially offset by continued high mill availability. Average grade milled decreased due to a lower proportion of high grade ore from the Sofia Main pit and a higher proportion of ore from the Sofia North pit. AISC decreased from $592 per ounce in Q4-2021 to $578 per ounce in Q1-2022 largely due to sustaining capital timing compounded with slightly higher unit mining and processing costs. OUTLOOK > Sabodala-Massawa is on track to produce between 360-375koz in FY-2022 at an AISC of $675-725/oz. In Q1-2022 mining activities started at the Massawa CZ, where activities will continue for the rest of the year. ENDEAVOUR MINING Production and AISC Production, koz 75koz $749/oz Q1-2021 For The Period Ended Tonnes ore mined, kt Total tonnes mined, kt Strip ratio (incl. waste cap) Tonnes milled, kt Grade, g/t Recovery rate, % PRODUCTION, KOZ Total cash cost/oz AISC/OZ COO video presentation AISC, US$/oz 96koz $637/oz Q2-2021 Key Performance Indicators¹ 106koz $655/oz Q3-2021 Q1-2022 1,708 12,076 6.07 1,054 3.10 89 96 448 578 E Website 105koz $592/oz Q4-2021 Q4-2021 1,719 12,789 6.44 1,081 3.41 90 105 458 592 Latest technical report 96koz $578/oz Q1-2022 Q1-2021 (1) For comparative purposes, performance indicators, excluding costs, include the pre-acquisition period from 1 January 2021 to 10 February 2021. Costs are from the post-acquisition period commencing February 10 2021. 1,622 10,713 5.62 1,027 2.48 90 75 564 749 48#49★ EXPANSION PROJECT INSIGHTS > DFS recommends supplementing the current 4.2Mtpa CIL plant with a 1.2Mtpa BIOX® plant to process the high-grade refractory ore from the Massawa deposits > SABODALA-MASSAWA EXPANSION Low-capex intensive expansion, adding BIOX® plant, launched in Q2-2022 > > At a $1,700/oz gold price the stand alone BIOX® project has an after-tax NPV5% of $861 million, a 72% IRR, and a short 1.4 year payback period > BIOX® plant generates $200 million of incremental annual free cash flow during its first five years, at a gold price of $1,700/oz and delivers incremental annual production of 194koz over next five years at a low AISC of $531/oz $290m initial capex expansion expected to be self funded by the existing Sabodala-Massawa operation > Construction commenced in Q2-2022 with first gold pour from the BIOX® plant expected in early 2024 BIOX® project expected to create over 100 full-time jobs in country with a corporate target of 95% national employment ENDEAVOUR MINING BIOX® Project expansion schematic plan BIOX Reactors Ch Counter Current Decantation (CCD) Elution & Regeneration Reagent Store EPCM Award Detailed Design & Engineering Order & Procure Long Lead Items TSF 1B Tailings Dam Construction Earthworks Civil Concrete Works Power Plant Construction Process Plant Construction Process Plant Commissioning First Gold Neutralization Expansion Project construction timeline BIOX CIL Flotation Crushing and Stockpile Grinding H1-2022 H2-2022 H1-2023 1803 H2-2023 H1-2024 49#50★ Sabodala-Massawa mine plan BIOX® Production CIL Production 2022 Guidance mid-point Expected Reserve additions 450Koz 400Koz 350Koz 300Koz 250Koz 200Koz 150Koz 100Koz SABODALA-MASSAWA MINE BIOX® plant construction lifts Sabodala-Massawa mine to top tier status 50Koz OKoz 2021A¹ 2022 ENDEAVOUR MINING 2023 44 2024 2025 Targeting production +400koz per annum (1) Includes pre-acquisition production 2026 2027 2028 2029 2030 2031 373koz/yr Expected average annual production over the next 5 years (2022-2026) $745/oz Expected average annual AISC over the next 5 years (2022-2026) 50#51★ SABODALA-MASSAWA Senegal ROBUST ECONOMICS FOR THE EXPANSION PROJECT BIOX® plant generates $200 million of incremental annual free cash flow during its first five years, at a gold price of $1,700/oz ENDEAVOUR MINING Expansion Project Highlights (excludes current CIL operation) FIRST FIVE YEARS (2024-2028) OPERATING SUMMARY Tonnes processed, Mt Strip ratio, W:0 Grade processed, Au g/t Gold contained processed, koz Average recovery rate, % Gold production, koz ANNUAL OPERATING METRICS Average annual production, kozpa Average Total Cash Costs, $/oz Average AISC, $/oz MINE FREE CASH FLOW Based on $1,500/oz gold price Total mine free cash flow, $m Annual mine free cash flow, $m Based on $1,700/oz gold price Total mine free cash flow, $m Annual mine free cash flow, $m GOLD PRICE PRE-TAX ECONOMICS NPV0%, $m NPV5 $m 5%' IRR, % Payback years¹ AFTER-TAX ECONOMICS NPV 0% $m NPV 5%, $m IRR, % Payback years¹ Expansion Project Economics (excludes current CIL operation) $1,300/oz $1,500/oz 385 260 28 2.6 316 211 26 2.6 5.7 7.7 6.07 (1) Payback period calculated starting from start of commercial production 1,110 86 971 194 504 531 743 149 999 200 957 696 57 1.7 742 538 51 1.7 $1,700/oz 1,530 1,132 83 1.3 1,164 861 72 1.4 ENDEAVOUR MINING LIFE OF MINE (2024-2033) 10.8 8.5 4.43 1,538 88 1,350 135 553 576 1,018 102 1,439 144 $1,900/oz 2,102 1,568 108 1.1 1,585 1,184 94 1.1 51#52★ AREA Geo- metallurgical Processing Tailings SABODALA-MASSAWA EXPANSION Scope changes in DFS compared to PFS Infrastructure Construction management DESCRIPTION OF CHANGE Additional geometallurgical work has reclassified fresh and transitional ore from the Massawa Central Zone and Massawa North Zone as more amenable to processing through the refractory plant adding an additional 3.8Mt at 2.02g/t gold for 248koz into the refractory ore reserves Addition of a standalone ROM pad and crusher Addition of a surge bin MINING Improves mining efficiency due to lower need for selective mining. Improves overall recoveries and provides supplemental ore feed into the BIOX® plant. Reduces the risk of cross-contamination and improves blending optionality Improves capacity when processing softer ore and provides a supplemental feed to cover crusher outages Addition of a gravity circuit within the milling Improves recoveries from the high-grade ores containing free- circuit milling gold Addition of a flotation cleaner circuit Controls the sulphur and carbonate grades in the concentrate and manages acid consumption in the BIOX® circuit Reduced BIOX® reactors and reduced associated blower air and cooling requirements reduced the upfront cost of the BIOX® circuit component Reduced the number of BIOX® reactors from nine to seven following further metallurgical tests which showed lower sulphur content for the Massawa Central Zone and North Zone deposits Addition of a separate high-density polyethylene ("HDPE") fully lined tailings storage facility ("TSF 1B") into the initial scope which will host the neutralised product and the BIOX® CIL tailings while the existing tailings storage facility ("TSF 1") will host the flotation tailings 18MW expansion of the existing HFO power plant, adding three 6MW HFO generators and two back up diesel generators, with the option to add- in solar to the infrastructure in the future Additional infrastructure including roads, water and administrative buildings Endeavour managed EPCM compared contracted 3rd-party ENDEAVOUR EXPECTED RESULT Removes risk associated with blending transitional and fresh ore with oxide ore into the CIL circuit. to Allows the clean supernatant water from TSF 1 to be recirculated into either processing plant without treatment De-risks power supply by increasing the capacity of the existing power plant by 50% to ensure sufficient power supply and back-up supply to maintain stable conditions for the BIOX® reactors Improves access and infrastructure at the Massawa Central Zone and Massawa North Zone pits Allows for flexibility in defining scope, contractor selection and procurement ensuring that the projects' team leverages off the existing operation Capital cost estimates Treatment Plant Reagents and Services Infrastructure Construction Distributables SUBTOTAL Management Costs Owners Project Costs TOTAL CAPITAL COSTS, $M 106 35 55 27 223 33 34 290 Capital cost bridge (PFS vs DFS) PFS CAPEX (as published by Teranga) Scope changes and other Inflationary impact of steel and concrete Savings Import and other taxes (excluded from PFS) Foreign exchange change DFS CAPEX CAPITAL COSTS, $M 219 +37 +33 (7) +5 +3 290 52#53* Senegal SABODALA-MASSAWA MINE Exploration Video DISCOVERY TARGET (2021-2025) M&I RESOURCES as at Dec 31, 2021 110Mt at 1.94g/t au containing 6.88Moz Grade g/t NEAR-TERM FOCUS Discovery of additional high-grade refractory and non-refractory ore resources. Explore high-grade underground opportunities. Launch airborne magnetic survey to identify targets with no surface expression. TARGET SCREENING 5 MINING 4 2.3 -2.7Moz Indicated resources 2 1 0.4 (blue indicates near-term focus) Massawa South Bambaraya. Kawsara Goumbati ENDEAVOUR $26/oz Discovery cost Soba/Tinkoto Samina Makana Sofia North Extension Kaba Tina Niafikiri Tiwana and Thianga Massawa CZ 0.6 0.8 Probability of Occurrence applied 1.0 IN Maka T 80% BRANSAN LOT-B SABODALA LOT-A a-Sofia Shear Zone PLANT Sofia North- Sofia Main, Thianga 40 km from plant 0 20 km from plant . Shear Zone Transcu T SENEGAL FF KANOUMBA. BRANSAN LOT-A 16:00 Bambaraya SABODALA LOT-B MASSAWA Tina 20 km SOUNKOUKOU MALI Samina Kossanto ▬▬▬▬22 Faleme River -Massawa North (NZ) Massawa Central (CZ) Delya ++ ++ + + + + ++++++ ++ ++ ++++ 2003 ++++++ Dakar +++ ++++++ + + + + + + + + + GAMBIA +++++ +++ *Bembou+ + + ++ +++++ 40 +++++++++++++ +++++++++++++++ +++++++++++++++ ++++++++++++++++ + + + + + + + + + + + + + + + + ++++++++++++++++ + + + + + + + + + + + + + + + + ++++++++++++++++ + + GUINEA-BISSAU SENEGAL MAURITANIA MAP VIEW BRANSAN LOT-C GUINEA Geology IBID Infrastructure Mining Concessions Exploration Permits Sabodala Plant ++ ++ ● Prospect Mineral Resources MALI First Order Structure Block Model Outline Mafic Volcanics Volcanics Granite Gneiss Granite Metasediments +++++ 53#54NEAR-TERM EXPLORATION FOCUS Focused on Delya South, Matiba, Makana and Kaviar targets INSIGHTS > An exploration programme of $15.0 million is planned for FY-2022, of which $3.8 million was spent in Q1-2022 comprised of approximately 27,500 meters of drilling. > During Q1-2022, drilling activities were focused on the Delya South, Matiba, Makana and Kaviar advanced exploration targets and other early-stage targets within the Massawa area. > At Delya South high-grade non-refractory mineralisation has been identified along the Main Transcurrent Shear Zone, a major north-northeast trending first order structure running through the Massawa Permit. > During Q2-2022, the exploration programme will aim to grow the non-refractory oxide ore resource at Delya South and the non-refractory fresh ore resources at Sofia North Extension, and follow up on drilling results at other prospective targets including Kaviar, Tiwana-Thianga, Soma and Kawsara all located in the Massawa and northern Kanoumba area. Sabodala-Massawa Plan Map AN ‒‒‒‒‒‒‒‒‒‒ 25 km from plant ·‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ 30 km fr plant SABODALA PLANT Sofia North Ext. Goulouma SOFIA SABODALA Sabodala Nyakafiri Kaviar Bambaraya Makana 2 Makana 1 Kawsara Thianga Soba Tiwana Tina km MASSAWA 15 DELYA Délya,South & Samina ENDEAVOUR MINING Deposits Targets Exploration Permit Mining Permits 54#55SOFIA NORTH EXTENSION Shallow high grade mineralisation extending for over 800m along strike WSW Redox MRC21-0666 MRC21-0686 3m @9.61 g/t from 13m incl. 1m @20.2 g/t at 13m MDD21-0666 8m @ 1.43 g/t from 78m incl. 1m @ 7.86 g/t from 81m MDD21-0686 MDD21-0666 12m @ 1.66 g/t from 134m MDD21-0688 160m ss S55 ssss sssss MDD21-0689 131m metres 75m MDD21-0691 MRC21-0688 9m @ 3.22 g/t from 24m incl. 1m @ 16.4 g/t at 30m 40 MRC21-0686 32m @ 1.42 g/t from 45m MDD21-0693 78m ENDEAVOUR MINING ESE 83m Laterite Ultrabasics Mafic Volcanics Altered/Sheared Mafic Volcanics Quartz Diorite Fault Zone 125m 1,00m 75m 50m 25m Om 55#56SAMINA Mineralised strike length greater than 1,100 meters and open to the north and south NW MDD20-0582 MRC21-0575 Top of Fresh MRC20-0460 Silica Fault Breccia Mafic Volcanics MDD20-0581 13m @6.28 g/t Au from 71m/ incl. 1m @ 60.80 g/t Au [email protected] g/t Au from 88m Carbonaceous Shales Gabbro Sediments Fuchsite-rich Mafic Dikes MDD20-0594 MDD20-0581 120m MDD20-0580 DLTR062 0 136m 156m MDD20-0594 17m @ 2.19 g/t Au from 105m 3m @2.47 g/t Au from 141m incl. 1m @6.53 g/t Au 4.3.4 metres 40 MRC21-0578 SMRC019 100m MRC21-0608 215m 160m 200m 1 174m - 156m ENDEAVOUR MINING SE 200m 175m 150m 125m 100m 75m 50m 56#57ΤΙΝΑ Northeast striking mineralised occurrence with further drilling planned for 2022 W Redox TNRC019 42m @ 1.32 g/t Au from 4m incl. 3m @ 2.00 g/t Au from 21m and 5m @ 2.43 g/t Au from 29m MDD20-0621 MDD20-0620 37m @ 0.96 g/t Au from 62m MDD20-0621 83m @ 2.50 g/t Au from 78m Laterite Gabbro Granodiorite Sediments TNRC020 0 MDD20-0620 TNRC019 metres TNRC003 TNTR003 MRC21-0478 40 150m 215m MRC21-0478 6m @ 3.44 g/t Au from Om 12m @ 0.46 g/t Au from 9m 6m @ 0.75 g/t Au from 42m 290m TNRC020 /43m @2.03 g/t Au from 84m incl. 13m @ 4.08 g/t Au from 103m and 8m @ 5.09 g/t Au from 104m 190m 190m E 125m 100m 75m 50m 25m Om ENDEAVOUR MINING 57#58BAMBARAYA High grade mineralisation from surface extending over 800m along strike W MRC21-0723 4m @ 7.24g/t Au from 10m Top of Fresh - MRC21-0723 13m @ 2.06g/t Au from 46m Andesite Pillow Basalt Felsic Dyke 0 MRC21-0724 MRC21-0725 19m @ 1.97g/t Au from 7m Incl. 8m @ 3.07g/t Au from 18m metres MRC21-0723 50 100m MRC21-0725 90m BBTR001 16m ENDEAVOUR BBTR001 [email protected]/t from Om 100m MINING E 300m RL 275m RL 250m RL 175m RL 150m RL 58#59ITY MINE Côte D'Ivoire Overview MINING Quick Facts Timeline X ENDEAVOUR 255-270koz 2022 Target Production Ownership 85% EDV 10% Côte d'Ivoire 5% SODEMI 2012 AK The Ity mine is one of Endeavour's cornerstone assets. It has the longest operating history of any gold mine in Côte d'Ivoire, with +1.4Moz of gold produced in its 20 plus years of operation. 2014 The recent success of Endeavour's near-mine exploration program which discovered ~3.5Moz provided the opportunity to upgrade the small-scale, short-life heap leach operation with a CIL plant. COO video presentation La Mancha increased its stake to 55% La Mancha purchased by N. Sawiris $850-900/oz 2022 Target Mining Type Open pit / Contractor Mining 2016 AISC 2017 Website Processing Rate Upsize to 5Mtpa completed Feasibility study on CIL project Endeavour increased its stake to 80%, published Optimized Feasibility Study and commenced CIL construction 2018 O The CIL plant was successfully built ahead of schedule and below budget, achieving commercial production in Q2 2019. The mine has a production potential of 250koz/year over a +10-year life of mine at an attractive AISC. G 3.0Moz As at December 31, 2021 P&P Reserves Latest technical report 2019 Royalty 3%-5% sliding scale Endeavour increased its stake to 85% 3D mine site tour 2021 E 4.5Moz As at December 31, 2021 M&I Resources CÔTE D'IVOIRE Ity Mine Commercial production achieved ahead of schedule 2022 and below budget Corporate Tax 25% Abidjan Recyn imitative launched Mining commenced at the Le Plaque deposit 59#60KEY OPPORTUNITIES ● ● ● ITY MINE Côte D'Ivoire Commencement of processing ore from Le Plaque and continued inclusion of new discoveries to provide greater mining and processing flexibility Constructing a recyanidation circuit to lower costs and improve recovery rates PRODUCTION AND AI $906/oz Exploring plant optimisations levers including increasing front end capacity to reduce operating costs and increase throughput capacity 59koz 2017A $719/oz MINING 85koz 2018A ENDEAVOUR 190koz $616/oz 2019A AISC ($/oz) 213koz $807/oz 2020A AK 272koz Production (koz) $836/oz COO video presentation 2021A 255-270koz $850 - 900/oz 2022E Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves Website RESERVES AND RESOURCES AS AT DEC. 31, 2021 P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources 2021 EMISSIONS INTENSITY kgCO2eq/oz produced Ity Endeavour Industry Average¹ A 430 540 Latest technical report 900 Tonnage (Mt) 11.9 51.2 63.0 12.1 77.3 89.5 27.1 Ity kgCO2eq/t processed Endeavour Industry average (open pit)² Grade (Au g/t) 3D mine site tour (1) 2020 and 2021 weighted average GHG emissions intensity (Scope 1 & 2). S&P Global, Company Filings. (2) 2019 industry average, S&P Global, Company Filings. 0.89 1.61 1.47 0.88 1.66 1.56 1.47 19 Content (Au koz) 338 2,641 2,979 344 4,131 4,475 1,279 32 25 60#61Q1-2022 vs Q4-2021 INSIGHTS > Production increased from 60koz in Q4-2021 to 72koz in Q1-2022 due to higher grades milled, tonnes milled, and improved recoveries. Mining at the current phase of Daapleu was completed during the quarter. Throughput remained high due to continued use of the surge bin to process the higher grade Le Plaque ore. > AISC decreased from $854 per ounce in Q4-2021 to $738 per ounce in Q1-2022 primarily due to the lower sustaining capital in Q1-2022, lower unit processing costs, and a lower strip ratio. OUTLOOK Ity is on track to produce between 255-270koz in FY- 2022 at an AISC of between $850-900/oz. > ITY MINE Strong throughput continues into Q1-2022 Mill ore feed is expected to continue to be sourced from the Le Plaque, Ity, Bakatouo, Walter and Colline Sud deposits. Recovery rates are expected to improve in upcoming quarters while average grade is expected to be slightly lower. Throughput is expected to be lower due to the change in the ore blend. Non-sustaining capital of approximately $60.0 million is expected in FY-2022, of which $5.1 million has been incurred in Q1-2022, which represents an increase from the initial full year guidance of $29.0 million due to the addition of the recyanidation initiative ENDEAVOUR A MINING COO video presentation Production and AISC Production, koz 71koz $786/oz H Q1-2021 61koz $915/oz 8000 $806/oz Q2-2021 Q3-2021 Website AISC, US$/oz 79koz Key Performance Indicators For The Period Ended Tonnes ore mined, kt Total tonnes mined, kt Strip ratio (incl. waste cap) Tonnes milled, kt Grade, g/t Recovery rate, % PRODUCTION, KOZ Total cash cost/oz AISC/OZ Q1-2022 2,534 6,951 1.74 1,669 1.70 Latest technical report 80 72 707 728 60koz $854/oz Q4-2021 Q4-2021 2,234 6,624 1.97 1,624 1.50 77 60 749 854 3D mine site tour 72koz $728/oz Q1-2022 Q1-2021 2,105 6,816 2.24 1,550 1.76 79 71 715 786 61#62Ity production plan 2022 Guidance mid-point Incremental production added 300koz 250koz 200koz 150koz 100koz 50koz ITY MINE Côte D'Ivoire Okoz 2019A 2020A (Started Q2-'19) ENDEAVOUR MINING 2017 Optimization Study 2021A 2022 2023 2024 AK 2025 Target production of 250koz over +10 years expected to be achieved based on exploration potential and further resource to reserve conversion I COO video presentation 2026 2027 H 2028 Website 2029 2030 Source: LSE Prospectus dated 9 June 2021, available on the Company's website within its Disclosure Portal G Latest technical report 3D mine site tour +294KOZE Koz Incremental production over next 5 years +31% Incremental production over next 5 years 62#63Côte D'Ivoire ITY MINE Exploration Video 3D mine site tour DISCOVERY TARGET (2021-2025) Indicated resources M&I RESOURCES as at Dec 31, 2021 90Mt at 1.56g/t au containing 4.48Moz Grade g/t NEAR-TERM FOCUS 3.3Moz discovered since 2016 with +10 year mine life. Focus to maintain and extend mine life through high priority exploration of West Flotouo, Walter-Bakatouo, Ity Deep, Daapleu and Le Plaque. TARGET SCREENING 5.0 (blue indicates 4.5 near-term focus) 4.0 3.5 3.0 3.5-4.5Moz 2.5 2.0 MINING 1.5 1.0 0.2 0.3 ENDEAVOUR $17/oz Discovery cost Delta Extension O Toulepleu West Flotouo Ity Deep Daapleau Deep Daapleu Legaleu and Yopleu Verse Est Le Plaque Bakatouo Gbeitouo Extension 0.4 0.5 0.6 0.7 0.8 Probability of Occurrence applied 0.9 1.0 100% Ownership. 85% Ownership - West Flotouo Colline Sud Trend 00 4 Colline Sud D 080 08 Le Plaque 0 O Plant 。 Old TSF P i 00 0800∞∞. 1000118 00000 0000302... . Zia -0000000000 B 500 0.00. O . O 00 040 000 ofe O Co Bakatouo NE 100 0000 0000 00 000000000000 Mont Ity •:00.801 •000000 9 xxx ..... " ..... 000 O 000 Ity Flat 0x000 **** G 10 .... Bakatouo 000000 000 COO ●● D Le Plaque R YD Walter Dapleu SW Trend 0 0 Daapleu $$ à 85% Ownership 90% Ownership Gbeitouo km Vavoua —— - Morgan Yacetouo Permits Greenstone Belt Soil > 200 ppb Soil >650 ppb Auger > 1000 ppb Auger > 200 ppb DD, RC and RC-DD Exploration Drilling June 2020 to Date Deposits Main Activity Areas Exploitation Exploration Cavally River D 63#64NEAR TERM EXPLORATION FOCUS Focused on the West Flotouo, Colline Sud and Le Plaque deposits INSIGHTS > An exploration programme of $10.0 million was initially planned for FY-2022, of which $1.9 million was spent in Q1-2022 consisting of 9,800 meters of drilling. > During Q1-2022, exploration efforts focused on extending and expanding the West Flotouo, Colline Sud and Le Plaque deposits. At the West Flotouo deposits and the NE extension (Flotouo Extension) was focussed on growing the existing resources and expediting their incorporation in the current mining plan. > At Colline Sud, drilling was focussed on identifying extensions to the current mineralisation, which will be followed up in in Q2-2022. > Drilling at the Le Plaque deposit and its satellite, Yopleau-Legaleu, continued during the quarter with the aim of extending the mineralisation at both deposits. > During Q2-2022, the exploration programme will aim to continue growing resources at West Flotouo and Le Plaque, as well as extending the mineralised trends at Bakatouo, Colline Sud and Yopleu-Legaleu. LIBERIA Targets within 6 km radius from Mine Targets within 25 km radius from Mine * Targets located further than 25 km away from Mine Bin Houyé Contact Geya Mont Ba Toulepleu Toulepleu-Ity Greenstone Bin Houyé ★ Zeitouo CAVALLY RIVER CÔTE D'IVOIRE Zia NE Exte Walter-Bakatouo W-Flotouo. Ity Mine Complex West Plaque * Guiamapleu Epsilon Guiamapleu Granite-gneiss CAVALLY RIVER PE26 PE49 Floleu PE53 Gbampleu Delta Ext ENDEAVOUR Gbeitoud Exte Tiepleu Daapleu Deep Verse Est Yopleu-Legaleu MINING 0 Mahapleu 25 km Exploration Radius from Ity Plant... km 20 64#65WEST FLOTOUO High grade discovery close to the Ity CIL plant West Flotouo Plan Map VO21-165 8.4m @ 4.57 g/t Au 5.9m @ 14.55 g/t Au VO21-158 14.8m @ 3.04 g/t Au 5.9m @ 10.65 g/t Au VO21-112 2.9m @ 3.51g/t Au 14.7 @ 6.30g/t Au VO21-122 5.9m @ 13.64g/t Au 3.9m @ 4.24g/t Au VO21-157 3.6m @ 2.63 g/t Au 11.7m @ 4.09g/t Au metres OC O O 250 O Geology VO21-176 25.8m @ 4.91 g/t Au 4.2m @ 10.85 g/t Au VO21-096 [email protected]/t Au 3.7 @ 11.01g/t Au 0° Diorite Granodiorite Meta-Conglomerate Mafic Meta Volcano-sediments Marble Skarn Chlorite-Rich Volcano-sediments New Press Release ODD RC RC-DD Before New Press Release • DD, RC, RC-DD November 2021 $1500 Pit Mineralization Fresh Rock Weathered West Flotouo Cross Section NW PVO21-087 200mRL PVO21-088 VO16-003 13.9m @ 2.26g/t Au VO20-071 3.0m @ 6.72g/t Au [email protected]/t Au 100mRL [email protected]/t Au VO20-071 Weathered Fresh Rock 4.0m @ 20.98 g/t Au incl. 2.0m @ 40.09 g/t Au VO17-038 VO16-003 PV021-089 Granodiorite metres 7443 www. **** VO20-046 50 ****** 300m VO20-070 260m 211m PVO21-090 200m C SHAR PARANA 167m ------ ENDEAVOUR $1848 MINING fin 10 VO20-059 - ₂ .. 156m Mafic Meta Volcano-Sediments Meta-Conglomerate V016-016 $1847 130m 41m www.** VO20-046 5.4m @ 2.38g/t Au Overburden VO20-070 4.0m @ 2.57 g/t Au 2.0m @ 4.90 g/t Au 11.9m @ 2.24 g/t Au 10.9m @24.46git Au incl. 3.8m @ 60.39 g/t Au SE Interpreted Ore Zone Planned Drill Holes 65#66LE PLAQUE Updated resources extended mineralisation INSIGHTS > During the 2021 drilling campaign, an updated mineral resource was defined at Le Plaque, extending mineralisation towards Le Plaque SW and at depth at Delta Extension > The high grade Le Plaque deposit has been extended to the south towards Delta Extension and Le Plaque southwest. Resource ore type is 77% fresh and the strip ratio is expected to be in line with the previous Le Plaque resource, where mining began in late 2021 > Mineralisation remains open to the southwest and at depth, with significant high-grade mineralisation identified outside of the current resource pit shell. At Delta Extension, the mineralisation continues at depth and further exploration will explore the underground resource potential > A maiden Inferred resource was declared at Yopleu- Legaleu. Mineralisation is 56% fresh ore and the strip ratio is expected to be significantly lower than that of Le Plaque. Mineralisation is open at depth and along strike and a second phase of drilling is planned as part of the 2022 exploration programme 0 Le Plaque Exploration Targets FL20-1576 6.9m @ 13.41 g/t Au incl. 1.7m @ 47.60 g/t Au FL20-1589 2.6m@ 14.09 g/t Au incl. 1.7m @ 19.93 g/t Au 1.7 m @2.17 g/t Au FL20-1592 4.3m @ 3.15g/t Au FL20-1598 1.8m @3.69 g/t Au 2.8m @ 13.92 g/t Au incl. 1.1m @ 33.6 g/t Au FL20-1585, 7.8m @ 6.40 g/t Au incl. 0.9m @ 39.90 g/t Au 5.2 [email protected] g/t Au FL21-1638 3.0m @ 6.22 g/t Au Incl. [email protected] g/t Au 5.4m @5.36 g/t Au incl. 1.5m @ 14.25 g/t Au FL20-1556 [email protected] g/t Au incl. 0.7m @ 38.7 g/t Au FL20-1564 4.5m @ 2.96 g/t Au incl. 0.7m @ 13.2 g/t Au 500 metres FL20-1635 [email protected] g/t Au incl. 4.3m @ 40.58 g/t Au Le Plaque Main 1000 Delta-Extension South FL21-1643 5.1m @2.30 g/t Au 1.7m @ 50.34 git Au incl. 0.8m @ 104.9 g/t Au 1.2m @ 152.0 g/t Au Plaque SW 90% Section Epsilon N LT-73 Epsilon Beta Delta Extension Delta 1 Yopleu-Legaleu FL20-1379 FL20-1628 3.7m @33.61 g/t Au 7.4m @ 20.49 g/t Au incl. 2.2m @ 61.00 g/t Au incl. 0.7m @ 132.7 g/t Au Le Plaque SE ☐ ENDEAVOUR FL21-1640 2.9m @28.67 g/t Au incl. 0.4m @ 164.9 g/t Au 4.5m @17.17 g/t Au 5.2m @ 7.87 g/t Au incl. [email protected] g/t Au MINING Drilled After 1st July 2020 DD RC Results Pending ODD RC AN Drilled Prior to 1st July 2020 RC, DD, RC-DD Planned Drilling RC June 2020 $1500 Pit Mineralization Cavally Ri Mineralisation Geology Biotitic Gneiss (Zeitouo) Carbonate-Skarn Corridor Granodiorite Intrusive Diorite Mafic Meta Volcano-Sediments Detritic Sediments 66#67DELTA EXTENSION Mineralisation extends below pit shell NW Laterite Weathered Fresh Rock FL20-1269 18.1m @ 1.16 g/t Au 5.2m@ 2.46 g/t Au 12.1 m @ 4.20 g/t Au incl. 0.9 m @ 11.16 g/t Au and" incl. 0.9 m @ 18.59.g/t Au FL20-1408 7.75m@ 21.96 g/t Au incl. 4.1 m @ 37.15 g/t Au FL20-1601 11.2m @ 7.04 g/t Au incl. 3.7 m @ 19.21 g/t Au 72m 0 metres 84m 50 FL20-1405 100 FL20-1267 Im 150m 184m 217m FL20-1307 FL20-1268 271m 335m FL20-1278 FL20-1269 Diorite FL20-1292 FL20-1408 FL20-1601 FL21-1638 *5.4m @ 5.36g/t Au incl. [email protected]/t au 2.2m @ 1.42g/t Au FL21-1638 FL21-1601 12.1m @ 1.03 gt Au $1500 Resource Pit FL20-1292 6.9m @ 1.08 g/t Au 7.8m @ 3.15 g/t Au 4.4m @ 2.40 g/t Au FL21-1638 3.0m @6.22 g/t Au incl. 0.7m @ 16.81 g/t Au Granodiorite Interpreted Mineralization SE 250mRL 200mRL 150mRL 100mRL 50mRL OmRL ENDEAVOUR MINING 67#68WALTER-BAKATOUO Near mine low strip ratio resources added WA21-074 26.9m @ 3.24 g/t Au 6m @ 2.7 g/t Au WA21-025 2m @ 39.84 g/t Au 23m @ 4.29 g/t Au 6.4m @ 3.86 g/t Au WA21-060 19m @ 6.00 g/t Au 15m @ 1.42 g/t Au WA21-018 5m @ 6.06 g/t Au 100 metre's 200 B - - . 1 New Press Release ODD RC RC-DD Before New Press Release • DD, RC, RC-DD Mineralization November 2021 $1500 Pit Geology Carbonate-Skarn Corridor Diorite Granodiorite Intrusive Mafic Meta Volcano-seds ENDEAVOUR MINING WA21-052 5m @ 17.02 g/t Au 3m @ 4.35 g/t Au WA21-033 18.4m @ 2.73 g/t Au WA21-022 11m @ 2.54 g/t Au 16.9m @ 6.20 g/t Au 12m @ 4.65 g/t Au 2m @ 8.20 g/t Au WA21-058 18.9m @ 3.65 g/t Au 13.9 m @ 1.79 g/t Au WA21-041 10.8m @ 4.29 g/t Au 3.9m @ 3.49 g/t Au 8.9m @ 1.17 g/t Au 68#69DAAPLEU DEEPS High-grade mineralisation extends down dip 10.4m @ 1.82g/t Au 7.2m @ 2.08 g/t Au 10m @ 2.34g/t Au DA21-616 DA21-615 DA21-614 DA21-613 metres 18.4m @ 2.89g/t Au Incl. 1.2m @ 15.50g/t Au 4.8m @ 11.98 g/t Au Incl. 2.5m @ 22.79g/t Au 8.4m @ 3.13 g/t Au 9.8m @ 2.76 g/t Au DA21-612 Section A (LT-283) 500 [email protected]/t Au 13m @ 2.89g/t Au 7.8m @ 2.42 g/t Au 5.2m @ 2.52 g/t Au Ity Pit Shell Infrastructure Cavally River Assays Received to Date DD RC-DD H1 2021 Drilled • DD ■ RC RC-DD . Previous Holes Mineralization Fresh Rock Weathered Geology Carbonate Skarn Corridor Mafic Meta-Volcanics Rhyolite (Daaplite) 4.1m @ 1.74g/t Au 3.2m @ 3.55g/t Au NW DA21-615 DA21-609 DA16-193 18m @ 1,54g/t Au DA16-194 12.1m @ 1.47g/t Au 6.9m @ 1.13 g/t Au 13.9m @1.23 g/t Au DA21-615 18.4m @ 2.89g/t Au Incl. 1.2m @ 15.50 g/t Au DA21-615 14.8m @ 11.98g/t Au Incl. 2.5m @ 22.79 g/t Au 8.4m @ 3.13 g/t Au 9.8m @2.76 g/t Au DA21-615 2.4m @ 2.13g/t Au 2.6m @ 1.68g/t Au DA16-195 OW-DA-007 metres DA16-193 DA16-194 DA15-174 100 DA15-178 DA16-195 20.8m @1.93 g/t Au 19/9m @3.10g/t Au 623m 321m 294m DA15-16 270 250m 0000000 261 ENDEAVOUR MINING Pit DA15-178 21.3m @ 1.87g/t Au 250 RL 8.9m @1.37 g/t Au 9.3m @ 1.12 g/t Au DA13-014, DA 5-156 201m Microdiorite DA16-194 2.6m @ 6.15 g/t Au 15.2m @ 1.67g/t Au 276m TTH 165m DA16-193 15.6m @ 1.36 g/t Au 8.7m @ 3.23g/t Au Cavally Deposit Marble with Carbonate Level Diorite Fluidal Daaplite SE Hydrothermal Daaplite Chlorite + Biotite Volcanosediments Mineralization 300 RL DA15-174 14.2m @ 1.21g/t Au 10.7m @ 2.87 g/t Au 200 RL 150 RL 100 RL 50 RL ORL -50 RL -100 RL -150 RL -200 RL -250 RL 69 -300 RL#70HOUNDÉ MINE Burkina Faso Overview MINING Quick Facts Timeline ENDEAVOUR 260-275koz 2022 Target Production Ownership The Houndé mine is one of Endeavour's cornerstone assets. The mine was built ahead of schedule and below budget, with commercial production commencing in Q4-2017. 90% EDV 10% Burkina Faso 2012 Since then, the CIL plant has consistently performed well and is able to operate at more than 30% above nameplate capacity. AK 2013 COO video presentation $875-925/oz 2022 Target Endeavour purchased Avion Feasibility Study published Mining Type Open pit / Owner Mining AISC 2015 我 2016 Website Mining permit received The goal is to delineate sufficient additional resources through near-mine exploration to sustain production above 250koz/year over a +10-year life of mine at an attractive AISC. Processing Rate 3Mtpa CIL Plant In July 2020, a mining permit was granted and mining commenced at the Kari Pump deposit, part of the Kari Area, which will provide mill feed at higher grades than the current pits. O Construction started in April Latest technical report 2018 2.5Moz As at December 31, 2021 P&P Reserves Royalty 3%-5% sliding scale 2019 Maiden resource at Kari Pump 5.2 Moz As at December 31, 2021 M&I Resources 2020 BURKINA FASO 3D mine site tour ➤Mana Mine > Houndé Wahgnion Mine Mine Maiden reserve for Kari Pump Ouagadougou Boungou Mine Corporate Tax 17.5-27.5% 2021 Mining commenced at Kari west Kari Pump mining started 70#71KEY OPPORTUNITIES ● ● ● HOUNDÉ MINE Burkina Faso Greater mining flexibility with multiple available ore sources following stripping at Vindaloo and the incorporation of Kari Pump and Kari West PRODUCTION AND AISC 277koz Potential to integrate new discoveries and increase output through the incorporation of the Mambo satellite deposit and higher grade ore from Vindaloo Reduce processing costs with construction of a solar plant $565/oz 2018A 223koz $862/oz MINING 2019A ENDEAVOUR AISC ($/oz) 277koz $837/oz 2020A AK Production (koz) 293koz $843/oz COO video presentation 2021A 260-275koz $875- 925/oz 2022E 我 RESERVES AND RESOURCES AS AT DEC. 31, 2021 Resources shown in usive of Reserves (on a 100% basis) Proven Reserves Probable Reserves P&P Reserves Website Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources 2021 EMISSIONS INTENSITY kgCO2eq/oz produced Houndé Endeavour Industry Average¹ 550 540 Latest technical report 900 Tonnage (Mt) 2.3 44.6 47.0 2.4 101.5 103.9 20.5 Houndé kgCO2eq/t processed Endeavour Grade (Au g/t) Industry average (open pit)² 1.25 1.69 1.66 1.24 1.55 1.55 1.60 (1) 2020 and 2021 weighted average GHG emissions intensity (Scope 1 & 2). S&P Global, Company Filings. (2) 2019 industry average, S&P Global, Company Filings. 3D mine site tour Content (Au koz) 93 2,420 2,513 97 5,067 5,165 1,052 25 35 32 71#72Q1-2022 vs Q4-2021 INSIGHTS > Production slightly decreased from 77koz in Q4-2021 to 73koz in Q1-2022 due to the lower grade processed, which was partially offset by higher tonnes milled and recoveries. Mining activities shifted away from waste extraction to mining primarily oxide material from Kari Pump and Kari West, while waste development activity continued to progress at Vindaloo Main. > AISC decreased from $874 per ounce in Q4-2021 to $771 per ounce in Q1-2022 primarily due to the lower sustaining capital, lower unit mining and processing costs and the lower strip ratio due to less waste development activities during the quarter. OUTLOOK HOUNDÉ MINE Ore mining in Kari West to increase in H2-2022 > In line with its full year guidance, Houndé is on track to produce between 260-275koz in 2022 at AISC of $875- 925/oz. > In Q2-2022, mining activities are expected to continue to focus on the Vindaloo Main, Kari Pump and Kari West pits, while in H2-2022 ore is expected to be mainly sourced from the Vindaloo Main and Kari West pits as mainly stripping activities are expected to be conducted at Kari Pump, which is expected to yield lower grades in the latter portion of the year. Mill throughput and recovery rates are expected to be slightly lower in the upcoming quarters primarily due to changes in the ore blend. ENDEAVOUR AK MINING COO video presentation Production and AISC Production, koz 66koz $839/oz ④ Q1-2021 Website AISC, US$/oz 80koz For The Period Ended Tonnes ore mined, kt Total tonnes mined, kt Strip ratio (incl. waste cap) Tonnes milled, kt Grade, g/t Recovery rate, % PRODUCTION, KOZ Total cash cost/oz AISC/OZ $741/oz Q2-2021 Key Performance Indicators 70koz $921/oz Q3-2021 Q1-2022 1,338 12,686 8.48 1,233 1.94 95 73 697 771 Latest technical report 77koz $874/oz Q4-2021 Q4-2021 777 12,297 14.83 1,226 2.05 92 77 684 874 8 3D mine site tour 73koz $771/oz Q1-2022 Q1-2021 1,625 13,937 7.58 1,147 1.89 91 66 768 839 72#73Houndé production plan 2022 Guidance mid-point Incremental production added 2016 Optimization Study 300Koz 250Koz 200Koz 150Koz 100Koz 50Koz HOUNDÉ MINE Burkina Faso OKoz ENDEAVOUR AK MINING COO video presentation ④ Website 2017A 2018A 2019A 2020A 2021A 2022 2023 2024 2025 2026 2027 2028 2029 2030 (started Q4-'17) Target production of 250koz over +10 years expected to be achieved based on exploration potential and further resource to reserve conversion Source: LSE Prospectus dated 9 June 2021, available on the Company's website within its Disclosure Portal 2031 Latest technical report 3D mine site tour +426Koz Incremental production over next 5 years +50% Incremental production over next 5 years 73#74Burkina Faso HOUNDÉ MINE Exploration Video 3D mine site tour DISCOVERY TARGET (2021-2025) M&I RESOURCES as at Dec 31, 2021 104Mt at 1.55g/t au containing 5.17Moz 5.5 NEAR-TERM FOCUS Focused on maintaining +10-year mine life. Focused on near mill targets such as Kari Area, Vindaloo South, Sia/Sianikoui and Mambo. Re- interpretation of Golden Hill structural setting to identify additional resource potential. TARGET SCREENING 5.0 Grade g/t 5? 2.0 1.5 3.0 - 4.0Moz Indicated resources 1.0 MINING (blue indicates near-term focus) 0.2 ENDEAVOUR O CS Vein Koho Vindaloo Sud $19/oz Discovery cost Tiomboni Dossi Vindaloo Deeps -Sia Sianikoui Golden Hill Kari Area Mambo 0.8 0.4 0.6 Probability of Occurrence applied 1.0 12 Kari Westj Grand Espoir Bouere 47 0 1.8 Bombi Dohoun Kari Center RN1 i Sia/Sianikoui Kari Pump Nema Soukoui Plant 78 Tailings Storage Facility Waste Waste Dump Mambo Existing Highway ‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Existing Powerline Vindaloo -Koho Kari Fault RN1 Kopoi 74#75NEAR TERM EXPLORATION FOCUS Focused on Sianikoui and Dohoun, and Vindaloo South targets INSIGHTS > An exploration programme of $14.0 million is planned for FY-2022, of which $2.1 million was spent in Q1-2022 consisting of approximately 6,500 meters of drilling across 69 drillholes. The exploration programme was focussed on following up on historic drilling results at Sianikoui and Dohoun, and extending the mineralised trend at Vindaloo South. > During Q1-2022 drilling at Sianikoui identified three mineralised trends, with further drilling results pending, mineralisation remains open to the north and the south. Drilling at Dohoun is testing the extension of mineralisation to the southwest, with further drilling planned in Q2-2022. At Vindaloo South diamond drilling was used to delineate the geology and identify the mineralised trend towards the south of the existing mineralisation. > During Q2-2022, drilling will continue at Sianikoui and Dohoun to test the mineralised trends that have been identified. Similarly, exploration programmes are planned at the Grand Espoir, Baraki, Banana, Tioro Sud and Hondjo targets to delineate these prospects. At the Mambo discovery, step-out drilling will focus on extending the mineralised trend to the northeast to fully evaluate the potential size of the Mambo deposit. ZK Houndé plan map highlighting soil geochemical anomalies Bouere Kari West Kari Centre Main KC Gap KC South Kari Pump Dohoun Sianikoui 0 10km radius from HGO plant km Explo Camp 14 km ENDEAVOUR e Dafra MINING Marzipan Mambo Drilling Intercepts 0.5-1.0 Au ppm 1-2 Au ppm 2-5 Au ppm 5-10 Au ppm > 10 Au ppm Infrastructure HGO Plant $1500 Pit Permits Mining Permit Exploration Permit Roads National Road RN1 Bouere Haul Road --- Dohoun Haul Road (project) 75#76MAMBO Delineation of the Mambo discovery INSIGHTS Mambo is an attractive deposit as it is expected to have a low strip ratio, the resource contains approximately 40% oxide and transitional material > > The higher-grade portion (+2g/t) of the Mambo deposit is expected to be integrated within the Houndé mine plan as a priority > The mineralised trend at Mambo has been defined over 1,400 meters, and it remains open to the SW (where the grade is higher), NE, and at depth. The Mambo continuous ore zone is between 10-40 meters thick, with higher grade mineralisation > Further exploration work will continue to delineate the extent of the Mambo orebody along the SW strike and down dip Mambo geology and drilling intercepts MB21-0483: 32.0m @1.70 g/t Au MB21-0452: 47.0m @ 1.19 g/t Au MB21-0598: 23.5m @3.36 g/t Au 7.0m @2.15 g/t Au MB21-0383: 24.0m @3.24 g/t Au MB21-0395: 30.0m @ 2.30 g/t Au MB21-0355: 22.5m @ 1.88 g/t Au 7.5m @ 2.47 g/t Au MB21-0350: 8.5m @ 14.21 g/t Au incl. 1.0m @110.00 g/t Au [email protected] g/t Au MB21-0339: 19.0m @ 2.00 g/t Au MB21-0331: 51.0m @1.73 g/t Au O MB21-0321: 21.0m @ 2.02 g/t Au 10.0m @ 1.49 g/t Au All intercepts with true thickness Section A Karba3 Exploration Lease Boni Exploration Lease ---- Section B PODPO 250 metres Dag 500 AP MB21-0647: 6.0m @ 1.82 g/t Au 2.0m @26.85 g/t Au MB21-0515: 27.0m @ 1.85 g/t Au MB21-0507: 30.0m @ 1.32 g/t Au MB21-0498: 32.0m @1.51 g/t Au -MB21-0471: 48.0m @ 1.30 g/t Au MB21-0450: 40.0m @1.22 g/t Au B MB21-0418: 19.0m @2.37 g/t Au MB21-0376: 22.0m @ 2.24 g/t Au MB21-0382: 35.0m @ 2.80 g/t Au MB21-0373: 10.0m @ 2.51 g/t Au 23.0m @2.16 g/t Au MB21-0375: 12.0m @ 4.04 g/t Au MB21-0334: 42.0m @ 2.52 g/t Au [email protected] g/t Au MB21-0330: 40.0m @ 2.50 g/t Au 18.0m @3.06 g/t Au ENDEAVOUR MINING Resource Pits Shell Permit Limits Intercepts Au > 0.5 g/t 0.5-1 g/t 1-2 g/t 2-5 g/t 5-10 g/t <->10 g/t Completed Holes ODDH 2021 RC 2021 . Historical Drilling Lithology Mineralization Traces Mafic Volcanics Exhalative Sediments Granite Volcano-sediments 76#77MAMBO Down dip mineralisation extension remains open NW B -25m -50m -75m -100m -125m -150m -175m 20 -200m Weathered Fresh Rock MB21-0454 Laterite Saprolite Granite Tectonic Breccia Nov. 2021 Pit Shell @ $1500 Ore Zone Drill Holes With Assay Au Value> 0.5 g/t MB21-0453 MB21-0452 25 metres MB21-0451 MB21-0454 22.0m @ 0.98 g/t | 126m 50 MB21-0450 200m 245m MB21-0449 178m MB21-0448 145m 105m MB21-0450 40.0m @ 1.22 g/t Au 9.0m @ 1.01 g/t Au MB21-0451 42.0m @ 0.93 g/t Au MB21-0452 14.0m @ 1.08 g/t\ 37m 47.0m @ 1.19 g/t 157m MB21-0453 [email protected] g/t \ 99m SE B' MB21-0449 14.0m @ 1.21 g/t Au All intercepts with true thickness NW A MB21-0592 -50m -100m -150m -200m -250m -300m All intercepts with true thickness MB21-0377 MB21-0376 MB21-0375 MB21-0374 MB21-0377 5.5m @ 3.29 g/t Au [email protected] g/t Au MB21-0592 9.5m @ 3.06 g/t Au 194m MB21-0373 MB21-0372 168m 50 150m metres MB21-0376 [email protected] g/t Au 5.0m @ 1.16 g/t Au MB21-0375 3.0m @ 1.21 g/t\ 53m 12.0m @ 4.04 g/t \ 70m 100 ENDEAVOUR MINING MB21-0370 MB21-0374 22.0m @2.11 g/t 145m MB21-0373 MB21-0372 8.0m @ 2.38 g/t Au 13.0m @3.07 g/t Au 14.0m @ 1.65 g/t Au 104m 10.0m @ 2.51 g/t Au 23.0m @2.16 g/t Au Weathered Fresh Rock SE A' Laterite Saprolite Felsic Volcanics Granite Sericitic alteration Nov. 2021 Pit Shell @ $1500 Ore Zone Drill Holes With Assay -Au Value> 0.5 g/t 77#78GOLDEN HILL EXPLORATION Potential to integrate within the Houndé mine plan INSIGHTS > Advanced-stage exploration project on the Houndé Belt within trucking distance (25-30km) of the Houndé mine > Potential for development as a satellite deposit > Expansive exploration licenses covering 468km² > Drilling and preliminary engineering work by Teranga confirmed potential for a high grade open pit deposit at Golden Hill > The structural-stratigraphic mineralization can be traced for over 32km along trend, of which only 10km have been explored > Most resource areas remain open to further expansion along trend and depth > Recently identified several NW-SE trending structures that were previously unidentified that are believed to host significant mineralisation Resources as at 31 December 2020: > M&I resources Inferred resources 0.8Moz at 1.85g/t 0.7Moz at 1.81g/t Tarkwaian type sediments Greenstones IZK 05 10 Kilometers HOUNDE BLOCK BANTOU L HOUNDE 20 km radius BANTOU BLOCK 25-30km Boni Shear-Zone GOLDEN HILL 0.4 Mozt Indicated 0.6 Mozt Inferred DIEBOUGOU Boni Shear Zone ENDEAVOUR MINING Identification of cross-cutting sigmoidal structures has opened up several new target areas 78#79Sianikoui Drilling to continue through the year at high-grade target north of Kari area SKRC22-064 3.0m @1.18 g/t \ 46m [email protected] g/t \ 51m 19.0m @3.29 g/t \ 60m incl. 4.0m @ 8.08 g/t \ 74m SKRC22-066 1.0m @ 6.51 g/t 60m SKRC22-070 2.0m @7.87 g/t 102m 1.0m @ 1.55 g/t 106m SKRC22-069 . 1.0m @ 1.15 g/t\ 68m 1.0m @0.80 g/t 76m Drilling Program Planned Q2 Q1 Drilling Assays Received Previous Soils & Lag 50-100 ppb 100-200 ppb 200-500 ppb >500 ppb Interpreted Geology Andesite Diorite Dolerite Granite Granodiorite Superficial Diggins SKRC22-080 3.0m @ 0.76 g/t 116m 2.0m @ 0.83 g/t | 122m 3.0m @1.78 g/t 151m SKRC22-079 5.0m @ 0.77 g/t\ 88m 2.0m @ 1.42 g/t 105m [email protected] g/t \ 114m OOO oom SKRC22-078 [email protected] g/t\70m SKRC22-002 [email protected] g/t\3m SKDD22-003 1.0m @ 4.44 g/t 1 39m 6.6m @ 2.84 g/t \ 53.4m [email protected] g/t 193.2m SKRC22-065 1.0m @ 1.01 g/t\9m 1.0m @ 2.39 g/t 13m SKRC22-068 3.0m @ 1.24 g/t \ 7m 3.0m @ 0.90 g/t \ 20m [email protected] g/t\ 36m SKRC22-077 1.0m @ 1.52 g/t \ 27m 250 metres 500 ENDEAVOUR MINING 79#80WAHGNION MINE Burkina Faso Overview MINING Quick Facts Timeline ENDEAVOUR 140-150koz 2022 Target 2017 Production Ownership 90% EDV 10% Burkina Faso The newly developed Wahgnion mine offers cash flow generation and presents significant exploration upside. The mine was built ahead of schedule and under budget, achieving commercial production in November 2019. There are more than one dozen drill- ready targets on the regional land package, within trucking distance of the plant. 2018 AK COO video presentation $1,050-1,150/oz PFS published following completion of reserves and resources confirmation program 2022 Target Mining Type Open pit / Owner Mining AISC 2018 Early construction work started in Q1-2018 O Website Since commercial production was achieved, Wahgnion's processing plant has performed ~25% above nameplate capacity for throughput and gold recovery. Processing Rate Ö The mine plan for Wahgnion focuses on open-pit mining of four initial gold deposits within the mine lease. A multi-year drill program is underway at these four deposits with a goal of extending the mine life. 3.0-3.2Mtpa CIL plant 2019 Latest technical report 1.1 Moz As at December 31, 2020 P&P Reserves Royalty 3%-5% sliding scale (Govt) 1% (Elemental Royalties) Construction completed and commercial production declared effective 1 November, 2019 Updated feasibility study published increasing mineral resources estimate by 33% and minerals reserves by ~40% 2020 3D mine site tour 1.9 Moz As at December 31, 2020 M&I Resources AL BURKINA FASO Mana Mine Houndé Mine Wahgnion Mine 2022 Ouagadougou Boungou Mine Corporate Tax 17.5% Mining commencing at Samovogo deposit Updated LOM plan published highlighting ~25% increase in average annual production 80#81KEY OPPORTUNITIES ● ● ● WAHGNION MINE Burkina Faso Greater mining flexibility following the commissioning of the Samovogo satellite deposits later this year Pit optimisation and sequencing following incorporation of new discoveries Continual reduction in expatriates and development of local talent following the successful project ramp-up PRODUC ON AND AI Mining fleet optimisation and increased owner mining to increase mining rates and optimise surface haulage from Samovogo $950/oz 47koz 2019A¹ 175koz MINING $898/oz 2020A AISC ($/oz) 147koz $995/oz HAK 2021A Production (koz) COO video presentation 140-150koz $1,050 1,150/oz ENDEAVOUR (1) Commercial production declared November 1, 2019 2022E O RESERVES AND RESOURCES AS AT DEC. 31, 2021 Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves P&P Reserves Website Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources 2021 EMISSIONS INTENSITY² kgCO2eq/oz produced Wahgnion Endeavour Industry Average² 540 690 Latest technical report 900 Tonnage (Mt) 2.1 19.5 21.6 2.3 38.4 40.7 5.0 kgCO2eq/t processed Wahgnion Endeavour Grade (Au g/t) 0.78 1.60 1.52 0.82 1.52 1.48 1.53 Industry average (open pit)³ (2) 2020 and 2021 weighted average GHG emissions intensity (Scope 1 & 2). S&P Global, Company Filings (3) 2019 industry average, S&P Global, Company Filings 3D mine site tour Content (Au koz) 52 1,006 1.059 60 1,879 1,940 247 25 34 32 81#82WAHGNION MINE Greater focus on waste stripping Q1-2022 vs Q4-2021 INSIGHTS > Production decreased from 47koz in Q4-2021 to 29koz in Q1-2022 primarily due to the lower average grade milled and lower recovery rates partially offset by an increase in tonnes milled > Average grade milled decreased due to blending of lower grade materials from Nogbele South with ore from Fourkoura and Nogbele North. Recovery rates decreased slightly due to a higher volume of ore from the Fourkoura pit being processed, which has lower associated recoveries. > AISC increased in Q1-2022 due to the expected lower grade and higher strip ratio as well as higher haulage costs, higher unit mining costs and additional waste mined than originally planned OUTLOOK > Wahgnion is on track to produce between 140-150koz in FY-2022 at an AISC of $1,050-1,150/oz. > In Q2-2022, ore is expected to be primarily sourced from the Nogbele North and Fourkoura pits, with supplemental feed coming from the Nogbele South pits. Mill throughput is expected to decline in the upcoming quarters and increase in the latter portion of the year while recovery rates are expected to increase. ENDEAVOUR MINING AK COO video presentation Production and AISC Production, koz 43koz $780/oz Q1-2021 ④ For The Period Ended Tonnes ore mined, kt Total tonnes mined, kt Strip ratio (incl. waste cap) Tonnes milled, kt Grade, g/t Recovery rate, % PRODUCTION, KOZ Total cash cost/oz AISC/OZ AISC, US$/oz 41koz $980/oz Q2-2021 Key Performance Indicators¹ Website 34koz $1,097/oz Q3-2021 Q1-2022 1,100 10,173 8.25 974 0.99 91 29 1,134 1,351 Latest technical report 47koz $1,066/oz Q4-2021 Q4-2021 1,054 8,965 7.51 959 1.64 92 47 962 1,066 (1) For comparative purposes, performance indicators, excluding costs, include the pre-acquisition period from 1 January 2021 to 10 February 2021. Costs are from the post-acquisition period commencing February 10 2021. 8 3D mine site tour $1,351/oz 29koz Q1-2022 Q1-2021 1,183 7,751 5.55 962 1.46 95 43 746 780 82#83Burkina Faso WAHGNION MINE Exploration Video 3D mine site tour DISCOVERY TARGET (2021-2025) 1.5 2.0Moz Indicated resources M&I RESOURCES as at Dec 31, 2021 41Mt at 1.48g/t Au containing 1.94Moz NEAR-TERM FOCUS Extend mine life to +10 years through discovery of additional satellite deposits within trucking distance of the plant. Targets include Nogbele North, Nogbele South, Fourkoura, Hillside, Kafina West and Korindougou TARGET SCREENING Grade g/t 3.5 3.0 2.5 MINING 2.0 1.5 1.0 0.5 0.0 (blue indicates near-term focus) 0.0 Ouahiri ENDEAVOUR $25/oz Discovery cost Kafina 0.2 Bassongoro and Salenka Petite Colline Nogbele Muddi, Hillside, Kasera and Stinger Est 0.4 0.6 Probability of Occurrence applied 0.8 1.0 ZK MALI ★Kafina West Bagu Sud Ouahiri South CÔTE D'IVOIRE ZEGUEDOUGOU II Mining Permit Exploration Permits Deposits Prospects 25 km from plant BURKINA FASO Nogbele North & Nangolo Deposits Raul Weah 5 km from plant NIANKA II Plant WAHGNION Nogbele Salentini South Deposit DIERISSO II Kangoura NOGBELEHK South SUD Sud Bassangoro South Fourkoura Deposit Hillside Kassera 10 Fambesso km Kassangara Korindougou Dagano Konandougou NOGBELE II Stinger Deposit 20 Samavogo North Samavogo Deposit 83#84WAHGNION MINE Significant exploration potential exists within the permitted mine license INSIGHTS > An exploration programme of $9.0 million is planned for FY-2022, of which $1.6 million was spent during Q1-2022 consisting of approximately 6,500 meters of drilling across 50 drillholes. > During Q1-2022, drilling focussed on the Nogbele area pits targetting extensions of existing mineralisation and sterilisation of depleted resources. In addition, early work started on the Ouahiri South deposit. At Nogbele North and Nogebele South drilling was focussed on extending mineralisation along strike and down dip to evaluate the expansions of the Nogbele resources. After completion of this programme, early-stage drilling started on the Ouahiri South prospect, located approximately 4km to the west of the Nogbele area, with preliminary results pending. > During Q2-2022, the exploration programme will focus on early-stage drilling of prospective targets within close proximity to the Wahgnion mill, including Oahiri South, Bozogo, Hillside and Kassera. Nogbele South: Significant Indicated resource potential SW BNDD3825 3m @ 0.50 g/t Au from 24m 64m BNRC4599 2m @ 0.60g/t Au from 10m 2m @ 0.96g/t Au from 15m 8m @ 1.50g/t Au from 20m 5m @ 0.64g/t Au from 35m 7m @ 1.24g/t Au from 49m BNDD3824 12m @ 0.99 g/t Au from 20m 3m @ 0.52 g/t Au from 41m 3m @ 0.56 g/t Au from 46m 20m @ 1.40 g/t Au from 54m 6m @ 0.90 g/t Au from 86m BNDD3825 BNRC4599 BNDD3824 BNRC4600 60m V 108m 148m 0 78m metres BNDD3823 SAPR SPRK ENDEAVOUR BNRC4600 6m @ 0.90g/t Au from 7m 11m @ 1.06g/t Au from 17m 32m @ 1.50g/t Au from 46m BNDD3823 6m @ 0.92 g/t Au from 47m 2m @ 0.75 g/t Au from 79m 2m @ 1.20 g/t Au from 86m 10m @ 2.40 g/t Au from 90m 3m @ 2.40 g/t Au from 105m MINING Mafic Volcanics Apelite Pegmatic Quartz Veins NE 350m RL 325mRL 300m RL 275m RL 250m RL 225m RL 200m RL 84#85MANA MINE Burkina Faso Overview MINING Quick Facts Timeline ENDEAVOUR 170-190koz 2022 Target Production 1998 The mine has been in operation for over a decade, producing +2.1Moz gold. The Mana mine is located in the northern part of the highly prospective Houndé Greenstone Belt, approximately 60km north of the Houndé mine. Ownership 90% EDV 10% Burkina Faso AK 2006 Discovery of Mana COO video presentation Construction began $1,000-1,100/oz 2022 Target 2008 AISC Mining Type Open pit/ Owner Mining Underground / Contractor Mining 2012 O First production Website Recent discoveries resulted in the development of the Siou underground mine, using the long-hole method, which was completed in Q1-2020. Processing Rate 2.9Mtpa blended 2.6Mtpa fresh Mill expansion to 8,000tpd 2014 O 1.2 Moz As at December 31, 2021 P&P Reserves 2017 Latest technical report Royalty 3%-5% sliding scale PFS for Siou underground First production from Siou and Fofina 2018 Development started for Siou UG 3D mine site tour 2.3 Moz As at December 31, 2021 M&I Resources Wahgnion Mine AL BURKINA FASO 2020 Mana Mine Boungou Mine Houndé Mine Ouagadougou Corporate Tax 17.5% Siou UG development completed 2021 Development started for Wona UG 85#86KEY OPPORTUNITIES ● ● ● MANA MINE Burkina Faso Mine life extensions through open pit and underground exploration Transitioning Wona to an underground operation and incorporating of Maoula open pit into the near-term mine plan Developing local talent with strong underground mining expertise Cost optimization through reduction of expatriates and optimisation of fleet for Siou and Wona Underground and Maoula open pit PRODU ON AND AI Potential to reduce power costs with connection and stabilisation of grid power and/or the addition of solar 206koz $942/oz 2017A 219koz 136koz 08.-9.8. $1,095/oz $867/oz 2019A 2020A 181koz MINING $1,056/oz 2018A ENDEAVOUR AISC ($/oz) HAK COO video presentation Production (koz) 205koz $1,021/oz 2021A 170-190koz $1,000 - 1,100/oz 2022E O RESERVES AND RESOURCES AS AT DEC. 31, 2021 Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Website 2021 EMISSIONS INTENSITY kgCO2eq/oz produced Mana Endeavour Industry Average¹ 540 650 Latest technical report 900 Tonnage (Mt) 1.3 10.1 11.5 7.5 30.1 37.6 7.8 kgCO2eq/t processed Mana Endeavour Grade (Au g/t) 3.54 3.09 3.14 1.48 1.99 1.89 2.27 Industry average (open pit)² (1) 2020 and 2021 weighted average GHG emissions intensity (Scope 1 & 2). S&P Global, Company Filings. (2) 2019 industry average, S&P Global, Company Filings. 3D mine site tour 25 Content (Au koz) 150 1,007 1,157 359 1,928 2,287 570 32 51 86#87Q1-2022 vs Q4-2021 INSIGHTS > Production of 53koz remained consistent with the prior quarter as higher grades processed largely offset lower tonnes milled and slightly lower recoveries. MANA MINE Wona underground development being expedited Underground tonnes of ore mined increased as the Wona underground development continues to advance, development progressed 1,452 meters across the two declines during Q1-2022, creating access to more ore zones. AISC decreased in Q1-2022 due to lower underground mining unit costs and lower haulage costs associated with a smaller amount of tonnes moved from the deeper levels of the Wona open pit. OUTLOOK Mana is on track to produce between 170-190koz in FY-2022 at an AISC of $1,000-1,100/oz. Open pit mining activities at Wona open pit are expected to conclude at the end of Q2-2022 and the Maoula satellite pit is expected to commence in H2- 2022. Underground mining activities continue to progress as planned with Siou stope production remaining consistent and Wona underground development continuing with expected first stope production in Q3-2022. ENDEAVOUR AN MINING COO video presentation Production and AISC Production, koz 52koz $954/oz Q1-2021 For The Period Ended OP tonnes ore mined, kt O PRODUCTION, KOZ Total cash cost/oz AISC/OZ 49koz AISC, US$/oz $1,016/oz Key Performance Indicators OP total tonnes mined, kt OP strip ratio (incl. waste cap) UG tonnes ore mined, kt Tonnes milled, kt Grade, g/t Recovery rate, % Q2-2021 Website 49koz $1,029/oz Q3-2021 Q1-2022 470 1,644 2.50 199 622 2.94 92 53 948 1,000 Latest technical report 54koz $1,116/oz Q4-2021 Q4-2021 529 2,695 4.09 180 651 2.75 93 54 1,070 1,116 8 3D mine site tour 53koz $1,000/oz Q1-2022 Q1-2021 355 8,532 23.01 245 604 2.90 90 52 907 954 87#88Burkina Faso MANA MINE Exploration Video 3D mine site tour DISCOVERY TARGET (2021-2025) Indicated resources M&I RESOURCES as at Dec 31, 2021 38Mt at 1.89 g/t Au containing 2.29Moz Grade g/t NEAR-TERM FOCUS Extend mine life to +10 years through exploration of Siou underground, Wona underground as well as exploration targets Maoula and Fofina South. Re-interpret the Siou underground geology to continue extending reserves of underground deposits. Discovery of additional open pit oxide deposits within trucking distance of the plant. TARGET SCREENING MINING 5 4 1.0-1.5Moz w 2 1 0 1 (blue indicates near-term focus) 0.3 0.4 ENDEAVOUR $30/oz Discovery cost Bara Wona Deep Nyafe 0.6 Fofina 0.5 Probability of Occurrence applied 0.7 Maoula 0.8 0.9 Permits Exploitation Exploration 2022 Working Areas 2022 Planned Working Areas • Completed Drilling Planned Drilling 0 km Mana Plant Fobiri 3 10 Fofina ( Fofina Sud (3) Zina Nord Nyafé Maoula Kona Ble Tounou Bana Sodien Boumbouela 2 Momina Yona Siou Nord Air Strip Kokoi Sud Doumakélé Est Pompoï Kokoï Nord Koussarou ANK 88#89NEAR TERM EXPLORATION FOCUS Focus on discovering new oxide potential INSIGHTS > An exploration programme of $6.0 million is planned for FY-2022 of which $1.8 million was spent during Q1-2022, consisting of over 9,000 meters across 102 drillholes. > During Q1-2022, the exploration programme focussed on testing mineralised extensions to the Nyafe deposit as well as upgrading Inferred resources at the Maoula Est deposit to the Indicated category. At Maoula, the exploration programme focussed on delineating Indicated resources at the Maoula-Est satellite deposit and extending its mineralised trend towards the southwest, where several high-grade intercepts have been discovered. > During Q2-2022, the exploration programme will continue to test the mineralised extensions and explore for refractory ore potential at Nyafe. At Fofina, drilling will delineate the mineralised extensions to the north and south. In addition, several targets will be tested along the Greenville-Wona-Kona shear zone and the Boni shear zone, including Siou Nord, Tounou, Kokoi Sud, Doumakele, Fofina, Zina and Sodien. Mana exploration map Permits Volcano-Sediments, Wackes Tarkaian Sediments Taoudeni Sediments Granite Diorite (ME2) Granite (ME3) Granodiorite (ME1) 2.5-5 1-25 Exploitation Exploration Augers Au ppb 100-250 + 250-500 + 500-1000 + > 1000 IntermediateVolcanics, Andesite Mafic Volcanics, Basalt Rock Samples Au ppb *>5 | A Soil Samples Au ppb 100-250 • 250-500 500-1000 • 1000-10080 Baná Camp West Fofina Yaho GFBSZ-WKS Yama Fobiri Ooo Wona Kona Pit Fofina South Fobiri 2 Somouna Explo. Camp Nyafe Maoula Bana T2K Momina i e 3.6m @3.05 g/t Au Au 3.5m @ 9.46 g/t Au Au 4.0m @3.67 g/t Au Au 8.2m @ 6.51 g/t Au Au 9.3m @ 10.86 g/t Au Au ENDEAVOUR Kona Ble Bombouela 2 8.0m @ 3.17 g/t Au 8.0m @5.01 g/t Au 10.0m @6.04 g/t Au 11.0m @6.27 g/t Au 12.0m @6.24 g/t Au 14.0m @ 2.65 g/t Au 20.0m @ 1.20 g/t Au MINING 9.0m @ 1.49-Au git Au 7.2m @2.50 g/t Au + Siou South Kokoi 20 km 7.0m @ 1.65 g/t Au Zone Siou 2.40m @ 13.60 g/t Au Zone 9 5.32m @ 12.49 g/t Au. Zone 9 7.80m @ 4.32 g/t Au Zone 9 6.62m @ 10.13 g/t Au Zone 9 14.15m @ 10.82 g/t Au 2.5 km Siou N Ext. Siou Central 3.6m @ 2.93 g/t Au 5 89#90MAOULA Open pit oxide target Permit Exploitation Exploration Drilling program Intercept Au g/t 0-0.5 0.5-1 1-2 2-5 5-10 10 10000 Section Projected mineralized zone Enthropic area Superficial digging Gold panner village MARC21-308 5m @ 2.0 g/t \ 63m MARC21-342 11m @ 6.27 g/t \ 104m MARC21-373 3m @ 3.34 g/t \ 102m MARC21-327 7m @ 3.26 g/t\9m MARC21-370 6m @ 2.49 g/t\ 61m MARC21-313 8m @ 2.82 g/t \ 55m 1100 MARC21-311 10m @ 6.04 g/t \ 53m MARC21-559 [email protected] g/t \ 142m MARC21-169 5m @ 3.24 g/t \ 29m 1200 1300 MARC21-513 3m @ 2.39 g/t \ 37m 1400 500 1600 700 800 1900 TAR MARC21-377 8m @ 3.17 g/t \ 178m 2000 2100 2300 1200 2400 27 2500 2500 S 2900 800 3300 3200 3000 3100 3400 PA MARC21-366 12m @ 6.24 g/t \ 39m MARC21-321 14m @ 4.1 g/t \3m MARC21-576 8m @ 5.01 g/t\ 59m MARC21-524 5m @ 3.01 g/t \ 163m MARC21-572 3m @ 2.11g/t \ 35m MARC21-507 11m @3.72 g/t \ 14m MARC21-501 6m @2.70 g/t \ 62m MADD21-521 14m @ 2.65 g/t \ 69m MARC21-527 12m @ 2.48 g/t \ 87m 0 250 500 m ENDEAVOUR MINING 90#91MAOULA Mineralisation open between east and west structures NW MARC21-207 8.0m @ 2.09 g/t \ 26m MARC21-208 5.0m @ 1.99 g/t \ 25m 0.66 1.0.60 0.56- 8.0 2.09 MARC21-209 5.0m @ 3.63 g/t \ 118m 50 m 42 m MARC21-210 7.0m @ 3.29 g/t \ 104m MARC21-211 2.0m @ 3.55 g/t 96m 5.0m @ 1.51 g/t \ 111m 1.0m @ 5.01 g/t \ 137m MARC21-206 1.00.8 2.0 74 053- <--- -- 5.0 1.99 - 1.02.02- - MARC21-207 114 m 2.0 - 50 3.63 10.63 0.53. == - 3.29 2.0 0.97 2.0 0.94 1.0 0.82- Sediment - 1.0 0.68 1.0 0.79- 110059 0 0.89 1.0 1.57- --- MARC21-208 1.06.01 www 100.70 147 m 5.0 1.51 10----- 2.0 3.558 --50 3.01 1.0 1.25 1.0 0.68- 10 0.54- 1.0 1.22 192m = MARC21-209 30 1.82- MARC21-210 MARC21-214 4.0m @ 3.33 g/t \ 14m 4.0m @ 1.35 g/t \ 21m 6.0m @ 1.53 g/t \ 69m MARC21-211 MARC21-524 Laterite Saprolite MARC21-524 3.0m @ 2.91 g/t \ 122m 3.0m @ 1.82 g/t \ 138m 5.0m @3.01 g/t \ 163m MARC21-565 Volcanosediment 30 m 45 m -- 10 0.77- 77- 20 5.39 Base line 1.0056 11.68- 68 MARC21212 AN do 0.81 138 m MARC21-213 0.70- 4.0/3.33 h.00.88- 64 m MARC21-214 1.08 9.73- MARC21-215 MARC21-565 2.0m @ 5.39 g/t \ 90m Incl. 1.0m @ 9.86 g/t \ 90m [email protected] g/t \ 103m ENDEAVOUR MINING 10.50 QZON QZVN MARC21-216 NUMBER BANDS L/R COL RANGE Au_ppm L 10 5 2 1 SE 0.5 Quartz Zone Quartz vein 200m RL 91#92NYAFE SUD Early stage drilling focussed on delineating under explored refractory ore potential NW NYRC22-008 6 m @ 1.57 g/t \ 101m 1 m @ 1.50 g/t \ 153m 1 m @ 4.05 g/t \ 159m Saprolite Fresh Rock NYRC22-009 6 m @ 1.99 g/t \ 55m 1 m @ 1.37 g/t \ 94m 3 m @ 2.69 g/t \ 97m metres 162m 50 NYDD21-002 4.0 m @ 3.67 g/t\ 38.0m 1.2 m @ 1.99 g/t \ 97.1m 72m 70m- 160m 60m 65m- 21m 55m 27m- 45m 150m 72m 30m 49m Laterite Intermediate Volcanics Felsic Intrusives Interpreted Mineralized Structures -- Baseline ENDEAVOUR MINING SE 400mRL I 350mRL 1 I 300mRL 250mRL 92#93BOUNGOU MINE Burkina Faso Overview MINING Quick Facts Timeline ENDEAVOUR 130-140koz 2022 Target Production 2017 Endeavour successfully integrated the Boungou mine within its West African operating platform in Q3-2020. The Boungou mine is a low cost, high grade operation with significant exploration potential. The mine was built on time and on budget and achieved commercial production in Q3-2018. Ownership 90% EDV 10% Burkina Faso AK 2018 Construction began in March 2017 COO video presentation $900-1,000/oz 2022 Target AISC Mining Type Open pit / Contractor Mining O Website First gold pour in June and commercial production achieved in September 2019 Mining activities recommenced in Q4-2020 following the appointment of a local West African mining contractor. As the area around the mine is virtually unexplored and significant opportunity exists to identify additional resources, Endeavour commenced exploration activities in late 2020. Processing Rate 1.5Mtpa Gravity / CIP plant Ö 2020 Latest technical report 1.1 Moz As at December 31, 2021 P&P Reserves Placed on care and maintenance in November Royalty 3%-5% sliding scale Restarted processing stockpiles in February 2020 3D mine site tour 1.4 Moz As at December 31, 2021 M&I Resources AL BURKINA FASO Wahgnion Mine Mana Mine Houndé Mine Ouagadougou > Boungou Mine Corporate Tax 27.5% Mining operation successfully restarted in October 93#94KEY OPPORTUNITIES ● ● ● ● ● BOUNGOU MINE Burkina Faso PRODUCTION AND AISC 64koz $596/oz Discovery of new deposits to maintain higher grade profile Brownfields drilling to re-optimise current pit designs and explore area in between the East and West pits Potential to accelerate waste stripping Plant layout provides opportunity to upsize plant once +10-year mine life attained Leverage in-pit backfilling to reduce operating and capital costs 2018A 205koz MINING $497/oz 2019A ENDEAVOUR 155koz $618/oz 2020A AISC ($/oz) 174koz $801/oz AK 2021A COO video presentation Production (koz) 130-140koz $900 1,000/oz 2022E O RESERVES AND RESOURCES AS AT DEC. 31, 2021 Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves P&P Reserves Website Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources 2021 EMISSIONS INTENSITY kgCO2eq/oz produced Boungou Endeavour Industry Average¹ 490 540 Latest technical report 900 Tonnage (Mt) 0.6 9.3 9.9 0.6 10.5 11.1 0.1 kgCO2eq/t processed Boungou Endeavour Grade (Au g/t) Industry average (open pit)² 1.95 3.61 3.51 2.04 3.95 3.85 4.89 (1) 2020 and 2021 weighted average GHG emissions intensity (Scope 1 & 2). S&P Global, Company Filings. (2) 2019 Industry average, S&P Global, Company Filings. 3D mine site tour 25 Content (Au koz) 39 1,075 1,114 40 1,336 1,376 14 32 64 94#95Burkina Faso BOUNGOU MINE Exploration Video 3D mine site tour DISCOVERY TARGET (2021-2025) 1.0 1.5Moz Indicated resources M&I RESOURCES as at Dec 31, 2021 11Mt at 3.85g/t Au containing 1.38Moz NEAR-TERM FOCUS Extend mine life to +10 years through exploration of near mine targets Boungou North, Natougou SW, Natougou NW. Brownfields drilling within the mine permit to re-optimise current pit design. TARGET SCREENING 3.0 Grade g/t 2.5 MINING 1.5 1.0 (blue indicates near-term focus) O 0.35 O ENDEAVOUR $32/oz Discovery cost TN045 Tawori Boungou N Dangou Natougou NW 0.40 0.45 0.50 0.55 0.60 0.65 Probability of Occurrence applied Boungou NW Boungou W Boungou Boungou Village Boungou UG TN045 Osaanpalo Natougou, NE Boungou.. West Flanc Natougou SE km Natougou Natougou 5 Pambourou 000 Deposits Targets Mining Permit 95#96NEAR TERM EXPLORATION FOCUS Focused on the Osaanpalo and Boungou East targets INSIGHTS An exploration programme of $4.0 million is planned for FY-2022, of which $0.7 million was spent in Q1-2022 consisting of 1,600 meters of drilling across 14 drillholes. Exploration efforts were focused on delineating Osaanpalo and Boungou East as well as near mine targets on the Tawori permit, where results are still pending. > > During Q1-2022, drilling at Osaanpalo was focussed on testing structural trends similar to those at the Boungou shear zone. At Boungou East and Tawori, drilling following up on IP anomalies, intersected disseminated sulphides and sericite alteration along high priority structures, this mineralisation which will be followed up with more detailed drilling. > During Q2-2022, drilling will continue at Osaanpalo, Tiwori and Boungou East to continue delineating these targets. In addition, a large drilling programme is planned at Boungou North, to expand the resources and extend mineralisation to the northwest. Boungou Exploration Map NNWRC21-061 4m @2.94g/t from 81m Tuff It NNWDD21-075 28m @2.87g/t from 21m 1m @ 0.74g/t from 110m NNWRC21-014 2m @2.55g/t from 26m 32m @1.61g/t from 43m incl. 7m @2.93g/t from 68m 1m @7.12g/t from 112m BWFRC21-037 3m @ 3.92g/t from 148m Granite HWZ Interpretation UG Study area BNBSRC21-138 4m @ 2.40g/t from 72m BBRC20-0059 4m @3.53g/t from 55m West Waste Dump East Pit West Pit West Flank Pit 0 ENDEAVOUR BNBSRC21-107 5m @2.06g/t from 56m MINING BBRC20-0054 7m @ 8.99g/t from 59m incl. 1m @ 55.9 g/t 250 metres NNWDD21-007 12.3m @ 3.36g/t from 36.8m 2.21m @ 0.91g/t from 117.05m East Waste Dump Basalt NNWRC21-020 [email protected]/t from 44m 3m @ 0.66g/t from,104m NNWDD21-017 3m @1.12g/t from 33.5m 8.7m @2.06g/t from 43.2m 7.85m @ 1.53g/t from 99m 500 NSERC21-001 [email protected]/t from 10m NSERC21-007 7m @ 2.86g/t from 3m 96#97RESERVES AND RESOURCES AS AT DEC. 31, 2021 Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources PRODUCTION AND AISC 300 LAFIGUÉ PROJECT Côte D'Ivoire 200 100 0 Year 1 Year 2 Year 3 X ENDEAVOUR MINING Tonnage (Mt) 48.7 48.7 44.8 44.8 3.6 Production (koz) MAR Year 4 Year 5 Year 6 Year 7 Year 8 Grade (Au g/t) 1.70 1.70 2.02 2.02 2.35 AISC ($/oz) Content (Au koz) Year 9 Year 10 2,662 2,662 2,916 2,916 269 1,500 1,000 500 0 Mine life, years Strip ratio, W:0 QUICKFACTS (ON 100% BASIS) - 2021 PFS Ownership Mine Type Mill Type LIFE OF MINE PRODUCTION Tonnes processed, Mt Grade processed, Au g/t Gold contained processed, Moz Average recovery rate, % Gold production, Moz PFS press release Average annual production, kozpa Cash costs, $/oz AISC, $/oz¹ AVERAGE FOR YEARS 1 TO 5 Production, kozpa Cash costs, $/oz AISC, $/oz¹ CAPITAL COST Upfront capital cost, $m TIMELINE 2015 Exploration license acquired by EDV Latest technical report 2016 80% EDV; 10% Gov. Côte d'Ivoire, 10% SODEMI Open Pit 3.0Mtpa Gravity / CIP Plant 2018 Ranked as top Maiden Resource greenfield priority 2020 3D mine site tour EDV increases ownership & resource to 2.5Moz PEA results published 2021 9.5 10.3 32 2.0 2.1 95 2.0 209 684 838 220 751 916 338 Maiden reserve and PFS published 97#98LAFIGUÉ PROJECT Côte D'Ivoire 2021 project economics are robust, with an attractive NPV and IRR being generated across a range of gold prices The PFS is based on the updated 2020 Mineral Resource Estimate, as published on August 18, 2020, which outlined a 108% increase over the resource base used for the PEA. Very low discovery cost of $7.50 per Indicated resource ounce NEXT STEPS DFS has commenced and is due to be completed mid-2022. The updated resource provided in Q1-2022 will serve as the basis of the DFS - 45Mt at 2.0g/t with 2.92Moz M&I resources content which represents an 18% increase in the M&I resource versus what was used as the basis for the PFS ENDEAVOUR MINING Simplified map of the Fetekro property showing Lafigué AZK Boniérédougou B412 0 km Lafigué Fetekro Licence 10 Ity B412 Korhogo Cluster JV with Barrick CÔTE D'IVOIRE EDV Mines O EDV Exploration Properties Towns and Villages Paved Road Targets Dabakala Fetekro Licence Agbaou Abidjan km Bondouku Cluster 98#99LAFIGUÉ PROJECT Côte D'Ivoire ATTRACTIVE PROJECT ECONOMICS Key changes incorporated in 2021 PFS compared to the 2020 PEA: The PFS study is based on an Indicated Resource of 2.5Moz compared to previous 1.2 Moz Indicated Resource Nominal mill capacity increased by 100% from 1.5 to 3.0Mtpa, while upfront capital increased by only 26% PFS includes the addition of a solar hybrid power option to provide sustainable power Average annual production increased by 76% from 119 to 209kozpa and the mine life was extended from 8 to 9.5 years, resulting in an AISC increase of 20% from $697/oz to $838/oz mainly due to the higher strip ratio and the lower average grade ENDEAVOUR MINING Fetekro 2020 PEA vs 2021 PFS PLANT TYPE, SIZE & CAPEX Plant type Mill Type Upfront capital cost, $m LIFE OF MINE PRODUCTION Mine life, years Strip ratio, W:0 Tonnes processed, Mt Grade processed, Au g/t Gold contained processed, Moz Average recovery rate, % Gold production, Moz Average annual production, kozpa Cash costs, $/oz AISC, $/oz² ECONOMICS (BASED ON $1,500/oz) Pre-Tax Returns NPV 5%, IRR, % $m Payback, years¹ After-Tax Returns NPV 5%, $m IRR, % Payback, years¹ 2021 Fetekro PFS Project Economics Gold Price PRE-TAX NPV5%, $m IRR, % Payback years¹ AFTER-TAX NPV5%, $m IRR, % Payback years¹ $1,350/oz 439 28 3.3 308 24 3.4 Gravity / CIP 3.0 338 PFS (1) Payback period calculated starting from start of commercial production 9.5 10.3 31.9 2.05 2.1 95 2.0 209 684 838 663 38 2.6 479 33 2.7 $1,500/oz 663 38 2.6 479 33 2.7 PEA Gravity / CIL 1.5 268 8.0 7.4 13.1 2.38 1.0 95 1.0 119 592 697 372 37 1.7 272 32 1.8 $1,650/oz 862 46 2.2 630 40 2.3 VARIANCE +100% +26% +31% +41% +143% -14% +110% 0% +109% +76% +27% +20% +78% +2% +49% +76% +2% +48% $1,800/oz 1083 55 1.9 799 49 2.0 99#100Côte D'Ivoire LAFIGUÉ PROJECT Exploration Video A 3D mine site tour Technical report DISCOVERY TARGET (2021-2025) 1.2 1.8Moz Indicated resources M&I RESOURCES as at Dec 31, 2020 45Mt at 2.02g/t Au containing 2.92Moz $14/oz Discovery cost NEAR-TERM FOCUS 2.92Moz have been discovered since 2018 with the aim to further extend the Lafigué resources. Several additional exploration targets have been identified within 10km of Lafigué, which have received limited drilling, ahead of a construction decision additional Lafigué reserves are expected to be delineated 5-YEAR STRATEGY Lafigue North- Lafigue Center Junction Lafigue South Several nearby Lafigue grassroot targets Testing deposits at depth ENDEAVOUR MINING WA 02 LFRC19-659:[email protected]/t Au WA 07 LFRC19-660:[email protected]/tAu WA 04 WA 08 WA 03 WATOL LFRC19-653:[email protected]/t Au [email protected]/t Au LFRC19-656:[email protected]/t Au [email protected]/t Au [email protected]/t Au [email protected]/t Au [email protected]/t Au [email protected]/t Au LFRC19-652:[email protected]/t Au LFRC21-1535:[email protected]/tAu [email protected]/t Au LFRC21-1548:[email protected]/t Au Carget 88 Central area LFRC21-1534:[email protected]/t Au [email protected]/t Au LFRC18-334:[email protected]/t Au LFRC17-237:[email protected]/t Au Target-12 1 target ***** Larget 4 19-39 OVE 2 km targetel LFRC17-258:[email protected]/t Au target Carget 10 Carget Target 14 argets i ● target 3 LFRC17-260:[email protected]/t Au ● LF Nord main deposit LFRC21-1285:[email protected]/t Au Soils Geochemistry 0-25 ppb Au 25-50 ppb Au 50-100 ppb Au PR329 property PE_Lafigué LERC21-1545:2m@3,90g/t Au 100-200 ppb Au 200-500 ppb Au > 500 ppb Au LFRCDD20-1010:4.5m@1,23g/tAu Drilling . Geology Granite Felsic volcanics Felsic intrusive Intermediate to mafic volcanics Mafic intrusive Silicified volcanics Metasediments Drillholes Nov.2020-October 2021 Drilholes Prior to Nov.2020 Fetekro Prospects Lafigue Deposit Other Targets 100#101FETEKRO PROJECT DFS expected to be published mid-2022 INSIGHTS > Since the last resource update on 18 August 2020, more than 66,000 meters of drilling have been completed on the Lafigué deposit, the results of this drilling activity successfully demonstrated the overall continuity of the mineralised system with the occurrence of shallow, subparallel, and stacked mineralised lenses that were previously located outside of the 2020 resources pit shell. The Indicated resource estimate has grown by 445koz to 2.9Moz. > > Given the increase in Indicated resources and the strong additional exploration potential, Endeavour has decided to increase the envisaged nameplate throughput capacity of the plant by 33% to 4Mtpa in the DFS, which is expected to be published in late Q2-2022. Fetekro mining permit was granted in September 2021. > In the near-term, the Lafigué deposit remains the priority at Fetekro, while the longer-term focus is on delineating several identified targets on the property. Drilling between Lafigué Center and Lafigué North LFRC21-1276 5.8m @3.18 g/t Au 3.9m @ 9.70 g/t Au incl. 1.0m @33.70 g/t Au LFRC21-1297 "2.8m @ 12:34 g/l Au incl. 0.9m @17.02 g/t Au incl. [email protected] g/t Au 3.8m @ 29.74 g/t Au incl. [email protected] gt Au LFRC21-1277 [email protected] gft Au 6.8m @ 0.96 g/t Au [email protected] g/l Au incl. 0.9m @33.80 g/t Au LFRC21-1314 [email protected] g/t Au Incl. [email protected] gt Au incl. [email protected] g/l Au [email protected] g/t Au LFRC21-1298 10.4m @6.63 g/t Au incl. 0.9m @26.08 g/t Au Incl., 0.9m @11.86 git Au Incl. 0.9m @23.87 g/t Au 1.9m @ 7.19 git Au incl. 0.9m @ 13.49 g/t Au LFRC21-1300 [email protected] g/t Au incl. [email protected] g/t Au 1.9m @21.71 g/t Au incl. 0.9m @6.82 g/t Au Incl. 0.9m @36.60 g/t Au LFRC21-1301 [email protected] g/t Au incl. 0.9m @14.49 g/l Au LFRC21-1322 [email protected] g/t Au incl. 1.0m @ 38.10.g.t Au Incl. 1.0m @27.42 g/t Au 1.9m @12.73 g/t Au Incl. 1.0m @23.85 g/t Au LFRC21-1335 3.9m @ 12.77 git Au incl. 1.0m @ 39.20 git Au LFRC21-1307 9.7m @ 4.04 git Au incl. 1:0m @ 13.55 g/t Au LFRC21-1233 -6.6m @ 6.42 g/t Au incl. 0.9m @ 23.90 g/t Au incl. 0.9m @ 13.01 g/t Au [email protected] g/t Au 2.8m@ 1.48 g/t Au A O 19 LFRC21-1336 3.9m @ 7.28 g/t Au incl. 1.0m @27.36 g/t Au 250 metres 19 Q LFRC21-1234 3.9m @ 14.61 g/t Au incl. 1.0m @ 56.40 g/t Au 500 KOO LFRC21-1340 3.8m @ 6.31 g/t Au incl. 0.9m @22.82 git Au Α’ LFRC21-1325 12.5m @ 9.14 g/t Au incl. 1.0m @ 25.67 git Au incl. 1.0m @ 12.88 git Au incl. 1.0m @ 29.49 git Au incl. 1.0m @ 11.94 g/t Au incl. 1.0m @ 17.08 git Au 2.9m @ 4.84 g/t Au 2.9m @ 2.22 g't Au ENDEAVOUR MINING LFRC21-1345 8.6m@ 2.55 g/t Au incl.-1.0m @ 12.75 g/t'Au LFRC21-1363. 164 m @2.16 g/t Au incl. 1.0m @11.97 git Au LFRCDD20-1026 7.7m @ 6.47 git Au incl. 1.0m @ 42.50 git Au 1.9m @2.67 git Au LFRC21-1331 7.7m @ 5.49 git Au incl. 1.0m @ 32.00 g/t au [email protected] g/t Au [email protected] g/t 'Au Incl. 1.0m @ 55.80 g/t Au LFRC21-1271 @ [email protected] git Au LFRCDD21-1272 [email protected] git Au incl. 0.9m @ 24.23 g/t Au incl. 0.9m @ 13.97 git Au incl. 0.9m @23.49 git Au 5.6m @ 0.91 git Au Drilling Prior to Nov. 2020 Drilling From Nov. 2020 With Results Drilling From Nov. 2020 With Partial Results Drilling From Nov. 2020 With Pending Results Mineralization at Surface July 2020 Pit Shell Felsic Volcanics Granodiorite/Microdiorite Intermediate to Mafic Volcanics Mafic Intrusive Silicified Volcanics 101#102FETEKRO PROJECT Mineralisation extends over 500m southeast of current pit shell NW A LF17-157 30m LF17-159 LFRC19-530 LF14-082 25m 30m 54m R1397 LF14-041 60m 102m LFRC20-990 7.7 @ 8.29 g/t Au 97m 100m LFRC21-1318 LFRC21-1333 LFRC20-990 LFRC21-1319 LFRC21-1320 LFRC20-991 LFRC21-1334 LFRC21-1404 LFRC20-993 →LFRC21-1405 Saprolite Felsic Volcanics Mafic Intrusive Mafic Volcanics July 2020 Indicated Pit Shell Ore Zone Drill Holes With Assay Drill Holes With Pending Results Au Value > 0.5 g/t 121m 116m 121m 140m 130m LFRC21-1307 9.6m @ 4.04 g/t Au incl 1.0m @ 13.55 g/t Au LFRC20-994 1.9m @5.14 g/t Au [email protected] g/t Au 135m 160m LFRC21-1335 3.8m @ 12.77 g/t Au incl 0.9m @ 39.20 g/t Au LFRC20-995 6.8m @2.82 g/t Au I 145m 150m 181m LFRC21-1307 LFRC20-994 LFRC21-1335 LFRC21-1336 152m LFRC21-1337 1.9m @ 18.64 g/t Au incl 1.0m @ 36.20 g/t Au 1.9m @26.49 g/t Au incl 1.0m @ 45.80 g/t Au 155m 210m @ 1 176m LFRC20-995 LFRC21-1337 LFRC21-1339 LFRCDD20-996 LFRC21-1340 LFRC21-1338 LFRC20-1003 LFRC21-1322 LFRC21-1323 171m 240m 8891 162m LFRC20-1003 2.9m @ 5.51 g/t Au incl 1.0m @ 11.82 g/t Au 4.8m @ 1.74 g/t Au 164m 280m LFRC21-1322 1.9m @ 0.96 g/t Au [email protected] g/t Au incl 1.0m @ 38.10 g/t Au incl 1.0m @ 27.42 g/t Au 1.9m @ 2.61 g/t Au 1.9m @ 12.73 g/t Au incl 1.0m @ 23.85 g/t Au 17.3m 242m O 0 163m 160m 270m 306m LFRC20-1024 3.9m @ 1.52 g/t Au 4.8m @ 3.14 g/t Au metres 6000880 -1234 LFRC20-1024 LFRC21-1324 LFRC21-1325 1 1 151m 164m 330m LFRC21-1325 12.5m @ 9.14 g/t Au 2.9m @ 4.84 g/t Au 2.9m @ 2.22 g/t Au 1.9m @ 2.11 g/t Au 100 ENDEAVOUR MINING SE A' LFRC21-1439 LFRC21-1441 LFRC21-1304 200mRL 100mRL OmRL LFRC21-1441 1.9m @ 0.99 g/t Au 102#103P&P Reserves Resources shown inclusive of Reserves (on a 100% basis) Proven Reserves Probable Reserves RESERVES AND RESOURCES AS AT DEC. 31, 2021 KALANA PROJECT Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources 300 200 Mali PRODUCTION AND AISC 100 0 ENDEAVOUR Tonnage (Mt) MINING 35.6 35.6 46.0 46.0 4.6 Production (koz) Grade (Au g/t) 1.60 1.60 1.57 1.57 1.67 Content (Au koz) 1,829 1,829 2,318 2,318 245 ISC ($/oz) 1,500 00000 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 1,000 500 QUICKFACTS (ON 100% BASIS) - 2021 UPDATED PFS Ownership Mine Type Mill Type LIFE OF MINE PRODUCTION Mine life, years Strip ratio, W:0 Tonnes processed, Mt Grade processed, Au g/t Gold contained processed, Moz Average recovery rate, % Gold production, Moz Average annual production, kozpa Cash costs, $/oz AISC, $/oz¹ PFS press release AVERAGE FOR YEARS 1 TO 5 Production, kozpa Cash costs, $/oz AISC, $/oz¹ CAPITAL COST Upfront capital cost, $m TIMELINE 1982-1991 Kalana UG mine operated by Soviets 2003 Avnel acquired Kalana 2009-2013 Exploration outlines the Kalana Main Project 2014 Website PEA published 80% EDV; 20% Mali government Open Pit 3.0Mtpa Gravity / CIL Plant 2016 FS published Latest technical report 2017 Endeavour acquired Avnel and launched optimisation 2021 11.0 6.7 36 1.6 1.8 90 1.7 150 785 901 186 589 679 297 Updated PFS published 103#104O KALANA PROJECT Mali > Key changes in updated PFS compared to the 2016 Avnel study: - Mill capacity increased by 150% from 1.2 to 3.0Mtpa, with upfront capital increased by 51% 2016 study included pre-production revenue from the tailings processed during construction, which were removed within the 2021 study Average annual production increased by 49% from 101 to 150kozpa, while shortening the mine life from 18 to 11 years AISC increased by 15% to $901/oz reflecting updated unit costs and the lower grades Average processed grade decreased by 43%, tonnage processed increased by 63%, and the strip ratio decreased by 34% The updated MRE includes the Kalana and Kalanako deposits and two TSFs stemming from the historical underground mine. The deposit's geological models were updated using a more conservative approach to incorporate tighter geological controls for the high-grade nugget effect, stacked vein sets and dilution ENDEAVOUR MINING Kalana 2016 vs. 2021 Study Comparison¹ PLANT SIZE & CAPEX Nominal mill capacity, Mtpa Upfront capital cost, $m LIFE OF MINE STATS Mine life, years Strip ratio, W:0 Tonnes processed, Mt Grade processed, Au g/t Gold contained processed, Moz Average recovery rate, % Total gold production, Moz Average annual production, kozpa AISC, $/oz 2021 Kalana PFS Project Economics Gold Price PRE-TAX NPV5 $m 5%' IRR, % Payback years AFTER-TAX NPV5%, $m IRR, % Payback years $1,350/oz 310 44 1.4 204 36 1.5 $1,500/oz 498 59 1.1 2021 STUDY 331 49 1.1 3.0 297 11 6.7 35.6 1.60 1.8 90 1.7 150 901 2016 STUDY 1.2 196 18 10.2 21.8 2.81 2.0 93 1.8 101 784 $1,650/oz 687 74 0.9 458 62 0.9 VARIANCE +150% +51% -39% -34% +63% -43% -9% -3% -8% +49% +15% $1,800/oz 875 88 0.8 584 74 0.8 1. Details related to the Avnel 2016 Study, published on March 30, 2016, are available on SEDAR under Avnel's profile. Comparative period economics are unavailable as a gold price of US$1,200/oz was used in the 2016 Study while $1,500/oz was used in the 2021 Study. Mineral Reserve and Resource estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions standards for Mineral Resources and Reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The 2020 Updated Kalana Project Mineral Resource has an effective date of June 30, 2020 and is constrained by a $1,500/oz conceptual open-pit shell. For notes relating to the 2020 Resource Estimate, please consult the section below entitled Kalana Technical Notes. As per Avnel Mineral Resources as of March 30, 2016, based on $1,400/oz Au; for the notes relating to the 2016 estimate, please consult the Kalana Technical Report dated March 30, 2016 available on the Endeavour website. 104#105KALANA PROJECT Mali > Discovery of additional deposits may provide an extension of the Kalana mining operation. In addition, potential high-grade free-digging soft material may provide further operating flexibility > The Kalanako Northwest area is highly prospective due to the presence of historical artisanal workings, gold showings and soil and geophysical anomalies. The Djirila deposit, located 22km southwest of the proposed plant location, is within a reasonable trucking distance from the Kalana plant and will be reviewed NEXT STEPS >Targeting release of the DFS in H2-2022 > Further exploration is envisaged on near-mine exploration targets ENDEAVOUR MINING Kalana license and exploration targets N 5 km Kalana Licence Resources Bandiala ★ Targets 10 Kalana Solomanina Dalada Kalanako Tonda Zamirila Sananfarani Dabaran North Sanekourou Djirila 105#106Burkina Faso BANTOU PROJECT Website 3D mine site tour INSIGHTS > Acquired through Endeavour's acquisition of SEMAFO in 2020 and currently consists of eight mineralized zones with diverse mineralization styles and grades within the prolific Houndé Greenstone Belt MINING > The inferred resource is comprised of three main areas with the majority of the tonnes and ounces centered around the Bantou and Bantou Nord Zones which are open at depth, and along strike > The project has large geochemical anomalies that trend, ranging in size from 5 km to 25 km in length. All the project deposits were discovered through drill testing of geochemical anomalies Exciting opportunities exist around both the Bantou and Bantou North deposits where high grade drill intercepts may support a potential development opportunity for a standalone operation TARGET SCREENING Grade g/t 7 01 6 сл 3 2 1 0.3 ENDEAVOUR Peni- Kueredougou 0.4 Bantou Tankoro Bantou Proxi 0.5 0.6 0.7 Probability of Occurrence applied Karangosso 0.8 0.9 Mana Property Wona 105 km Bantou Property 5000 Siou Houndé CURRENT RESOURCES as at Dec 31, 2020 Yaramoko 100000 Inferred Resource 51Mt at 1.37g/t Au containing 2.25Moz Mafic volcanics Intermediate volcanics Sediments (Tarkwa-type) Volcaniclastics and cherts Sediments Felsic intrusives 106#107Burkina Faso NABANGA PROJECT Website 3D mine site tour INSIGHTS > Located 250 kilometres southeast of Ouagadougou, the Nabanga Gold Project lies within the Nabanga exploration permit. MINING > Results of Preliminary Economic Assessment (PEA) released on September 30, 2019. Pre-tax NPV of $147m and after-tax NPV of $100m, using a 5% discount rate - LoM gold production of 571koz at AISC of $760/oz and a recovery of 92% during the eight years of operations Pre-production capital expenditure of $84m, including 20% contingency, and $56m in LoM sustaining capital > Project economics (base case of $1,300/oz gold price): After-tax 5% NPV: $100m After-tax IRR: 22.6% Payback period: 4.4 years Preferred mining method - open- pit/underground mining on the upper and at-depth portions of the ore zone, respectively Opportunities exist to improve returns through an increase in resources and additional cost saving measures ENDEAVOUR Nabanga deposit plan map and schematic cross-section Cross Section 57 1240 000 m ted Apa [email protected]/t [email protected]/t (incl. 4m @ 3.51gt) [email protected]/t [email protected]/t (incl. 2m @ 14.37git) 7m@ 17.29g/t (incl. 3m @ 35.88g/t) [email protected]/t (incl. 1.77m @26.33g/t) Southern Extension CURRENT RESOURCES as at Dec 31, 2020 25m A Nabanga North Lode Inferred Resource 3Mt at 7.69g/t Au containing 0.84Moz 88 Central Zone Sect. 57 500m North Zone Nabanga Gold Deposit (2.3km strike) Drill Hole Collars (metre grams) > 10 5 to 10 <5 A Assays Awaited Vein Trends (indicative) 107#108Côte D'Ivoire GREENFIELD AFEMA INSIGHTS > New Discovery: Woulo Woulo Prospect MINING > Continued geological and structural evaluations to expand oxide mineralization along the Afema shear zone > Strong drill results across widespread mineralization the Woulo Woulo prospect > Average 40-50 metre wide gold mineralization is exposed at surface Geochemical anomalies define +20 km strike extensions of both the Niamienlessa structural trend and the Afema shear zone > Current resource defined in a small portion of Woulou Woulou CURRENT RESOURCES as at Dec 31, 2021 Indicated Resource 5Mt at 1.10/t Au containing 0.18Moz Inferred Resource 3Mt at 1.05g/t Au containing 0.12Moz ENDEAVOUR PR-345 EXPLORATION PERMIT WW I SOUTH WW NORTH WWEAST WW.CENTRAL BERGERIENE BERGERIE WW SOUTH BRAHIMA . PANDOR A TGL MANGARA TGL24 ANTURY ASUPIRI AMANGARA $ AMANGARA SUPIRI SWN AFEMA SHEAR ZONE AGGIENOU TOLIESSO BEGNORAN ANIURI NORTH CHABRIERE قریب omnu 8 தற NIAMIENLESSA NIAM. NORTH C-ZONE NIAN NORTH B-ZONE NIAM. NORTH A-ZONE AFEMA MINING CONCESSION 108#109Burkina Faso GREENFIELD LIGUIDI BOMBORÉ MINING SANBRADO KIAKA ENDEAVOUR 10 km DASSOUI 20 Banfora Mana BURKINA FASO Houndé Bondi Karma Gaoua Yaramoko Konkera Kalsaka Bissa Ouagadougou EDV's Dassoui Licence Other Company Mines/Projects Netiana Taparko-Bouroum ZOOM. Bombore Essakane Kiaka Youga Liguidi AZK N Nabanga Natougou Cover Sepance Grandeid Endevour Gold Mes Min 109#110Côte D'Ivoire BONDOUKOU - TANDA & IGUELA INSIGHTS > Over 8 targets have been identified on the Tanda and Iguela exploration permits MINING > Dakou, Pala and Assafou- Broukro are high priority targets with the larger resource size potential > High gold in soil geochemical anomalies have been identified ENDEAVOUR Anticline Fault Normal fault *- Syncline Road O Targets Gbabango Pala 0 Sokouadou Tangamourou Assafou-Didibango X9X- boo Broukro JQCCUUO 10000 Gbokore 5 km Djani-Yao 10 Guiende PR436 Iguela ONagafou PR195 Tanda Atrame Nouveau O Dakoua Amphibolite O Atrame Calcochloritoschists Conglomerates & Microconglomerates Koun-Tanda Sandstone & Arkose Granodiorite Meta-arenites over Metasiltstones Metagabbro Metarhyolite Metatonalite Undiff. Volcano-sedimentary Schists Metabasalts & Microgabbro Felsic Intrusive 110#111Guinea GREENFIELD: SIGUIRI LICENSES ENDEAVOUR MINING Other Company Tenements Other Company Gold Mines MALI Dinguiraye District 49 AngloGold's Siguiri Mine 0 GUINEA 25 km Endeavour Siguiri Property Siguiri District 50 Kofi Trend GUINEA 0 100 km Tabakoto 200 MALI Siguiri A MALI O Bamako Kalana 111#112Niger GREENFIELD NASSILE / DA-GUITY INSIGHTS > Highly prospective area of Nassile and Dar-Guiti MINING > Exploration Permit obtained in 2017 > Exploration Permit covers a total surface area of 695km² ENDEAVOUR BURKINA FASO Endeavour Exploration Licences Other Company Gold Mines 0 10 km Samira Hill Libiri Nassile Dar-Guity 20 NIGER ‒‒‒ IZK 112#113Mali GREENFIELD KOFI INSIGHTS > Kofi on same trend as Barrick's Loulo- Gounkoto in Mali MINING > Exploration license of Kofi not sold in Tabakoto sales process > Aim is to attain additional license around Kofi North/Netekoto to consolidate exploration cluster ENDEAVOUR AZK Walia West- 0 PQ10 South Gara West Gara- SENEGAL 5 Barrick Loulo >11 Moz Au km 10 ΝΕΤΕΚΟΤΟ BLOCK KOFI BLOCK O Korressingui Batabo -Loulo 1 -Loulo 2 Loulo 3 P129QT Yal'ea Gounkoto Endeavour Mining Mineral Deposit Targets Barrick Resources A Linear Zone Mineral Deposits ---- Mineral Trends Planned Road Escarpment National Borders Endeavour Permits MALI 113#114BEING A TRUSTED PARTNER 4 OURNÉE INTER SAN Watch video 114#115OUR PURPOSE IS TO PRODUCE GOLD THAT PROVIDES LASTING VALUE TO SOCIETY We achieve this by... Protecting and promoting the places where we operate ENVIRONMENT Climate Change Water Stewardship MINING Biodiversity Plastic waste ENDEAVOUR 1 POVERTY SUSTAINABLE DEVELOPMENT GOALS ஸ் INDUSTRY, INNOVATION AND INFRASTRUCTURE 10 REDUCED INEQUALITIES ZERO 2 HUNGER SSS 11 Helping to create resilient and self-sustaining communities SOCIAL FULFILLING UN SUSTAINABLE DEVELOPMENT GOALS GOOD HEALTH AND WELL-BEING C SUSTAINABLE CITIES AND COMMUNITIES Economic development Education 3 Health Access to water and electricity 12 RESPONSIBLE CONSUMPTION AND PRODUCTION CO 13 QUALITY EDUCATION CLIMATE ACTION 5 GENDER 14 BEL BELOW WATER 6 15 Trusted to unlock the full benefits of the material we mine CLEAN WATER AND SANITATION LIFE ON LAND GOVERNANCE Respect for human rights Zero harm and employee well-being Diversity and inclusion Ethical business AFFORDABLE AND CLEAN ENERGY 16 PEACE, JUSTICE AND STRONG INSTITUTIONS % 8 DECENT WORK AND ECONOMIC GROWTH M 17 PARTNERSHIPS FOR THE GOALS 115#116IMPROVING OUR TRANSPARENCY & DISCLOSURE As our company has grown, so have our ESG initiatives and commitments 2017 1st GRI Sustainability report GRI ENDEAVOUR MINING 2018 • 2nd GRI report published • Increased GRI indicators • Modern Slavery Statement Modern Slavery Act 2015 2019 3rd GRI report Started Scope 3 disclosure 1st CDP survey Join World Gold Council Signed the RGMPs WORLD GOLD COUNCIL 2020 • 1st RGMP externally assured • Published external ESG targets for 1st time Expanded Exec. Comp. to include ESG targets • TCFD Reporting • TCFD 2021 • External assurance on key ESG data • 7 RGMPs externally assured ● Adopted SASB & LPRM frameworks • Set Net Zero/2050 and -30%/2030 targets ● Adopted UK Corporate Governance Code • Joined UN Global Compact alk SASB USTAINARIUS STAMOREDS ACCOUNT giz #0ABO MINING SHARED VALUE Deschaff Tal UN GLOBA ILD COMPACT * 2022 • New Code of Business Conduct and Ethics • New Group-wide Tailings Management Policy Complete detailed abatement analysis and plan to achieve -30% by 2030 • Set Group water targets Progress RGMPs towards full compliance in 2023 116#117CONTINUOUS IMPROVEMENT IN ESG RATINGS Reflecting increased transparency, disclosure and engagement ISS CORPORATE SOLUTIONS 2019 III Governance Environment Social ISS ESG Corporate Rating Transparency Level 0-20% 20-40% Very Low Water Low Forestry 40-60% Climate Change Medium MINING CDP ENDEAVOUR 8 High 6 3 60-80% T Y C- ▼ 80-100% Very High 2022 2019 D- N/A III Governance Environment Social ISS ESG Corporate Rating Decile Rank 10 9 8 Low relative performance 2020 C 7 6 C Defined targets required to advance to a B rating 5 4 5 2 1. C- 3 2 1 High relative performance 2021 C C 2020 SUSTAINALYTICS 2019 45 2021 53.2/100 Severe Negl 0-10 35.8 High Risk 2021 Score 2021 SAM Negl 0-10 Total Sustainability Score: Relative Performance Now a Part of S&P Global Low Global Universe Precious Metals (Industry Group) Gold (Subindustry) Y-O-Y 10-20 +6 Low 10-20 Med 20-30 71 Med 20-30 Rank (1st lowest risk) 34 out of 115 25 out of 86 Percentile 2021 High 30-40 10222 out of 13563 76th High 30-40 Company Score 39 30th Percentile (1st = lowest risk) 29th Y-O-Y Severe +22 40-100 Severe 40+ Percentile Ranking 49 Industry Average 39 Average Score 34 117#118ESG 2021 HIGHLIGHTS Strong year delivering against key objectives €13 ZERO HARM Zero Fatalities 0.20 LTIFR, well below industry benchmark DEVELOPING LOCAL TALENT Strong national representation: 95% workforce ~50% senior operational management ENDEAVOUR MINING ADDRESSING CLIMATE CHANGE 0.54tCO2-e/oz emissions intensity, one of the lowest in the gold sector 17% improvement in water withdrawal intensity per ounce of gold produced ETHICAL BUSINESS No reported cases of bribery/corruption Joined UN Global Compact Joined Single Mine Origin (SMO) Initiative INVESTING IN OUR COMMUNITIES $2.0B in total economic contribution to host countries 80% of procurement spent in-country, with 1,700 businesses supported 3 RIGOUROUS REPORTING Key ESG data externally assured Internationally recognised frameworks: GRI, TCFD, SASB, LPRM, RMGPS, UN Global Compact 118#119ADDRESSING OUR CLIMATE IMPACT SNAPSHOT OF OUR POWER SOURCES AND OPPORTUNITIES SENEGAL Country Profile 65% Fossil, 35% Renewables (Solar, Wind, Hydro) ● Mines & Main Power Source Sabodala-Massawa - HFO ● Power Opportunities 35 MW solar plant at Sabodala-Massawa Grid connection from Kedougou ● ● ENDEAVOUR MINING CÔTE D'IVOIRE Country Profile ● ● ● Mines Senegal SABODALA-MASSAWA Projects Guinea Mines & Main Power Source Sierra Leone Well-developed national infrastructure 68% Fossil, 32% Hydro Exports to Burkina Faso Grid power Liberia Ity - Grid: 68% Natural Gas, 32% Hydro ITY KALANA ● ● Mali Self-generated power ● $ ● ● ● MANA WAHGNION G LAFIGUÉ BURKINA FASO Country Profile Côte d'Ivoire Abidjan Regional Office EEE Burkina Faso HOUNDÉ Ghana Solar power (future projects) Togo 68% Imports, 32% Local Production 70% Thermal, 27% Hydro, 3% Solar Mines & Main Power Source Houndé - Grid Mana - Diesel Boungou - HFO & Diesel Wahgnion - HFO Power Opportunities 30 MW solar via PPA for Houndé for Phase 1 Niger BOUNGOU Benin 119#120ENDEAVOUR'S GREENHOUSE GAS EMISSIONS INTENSITY RANKS FAVOURABLY IN COMPARISON TO PEERS IN 2021, ALL ENDEAVOUR MINES PERFORMED BETTER THAN INDUSTRY AVERAGE Sources: Endeavour, Bloomberg, Company reports, (1) Weighted average for 2020/21 production ENDEAVOUR MINING 2021 GHG EMISSIONS INTENSITY Emission Intensity (kt CO2-e/oz) Industry average intensity of 0.90¹ 0.20 YAMANAGOLD 0.40 AGNICO EAGLE 2020 data 193kt 0.51 0.54 Sabodala Massawa ∞ 0.56 0.59 ANGLOGOLD ASHANTI TOTAL GHG EMISSIONS 118kt 0.43 Newmont Ity 2020 data 0.69 B2GOLD 163kt 0.55 Houndé 0.73 HOST 0.74 0.78 0.80 0.81 POLYUS 2020 data 133kt 0.65 T Scope 2 Emissions (ktCO2-e) Scope 1 Emissions (ktCO2-e) Mana GOLD FIELDS POLYMETAL 86kt 0.49 KINROSS 1.12 Boungou NEWCRES NING LIMITED 1.20 FRESNILLO Industry average intensity of 0.90¹ 114kt 1.60 GHG Emission Intensity (tCO2-e/oz) 0.69 Wahgnion 2.86 BARRICK HARMONY 0.53 46kt Karma 120#121ADDRESSING OUR CLIMATE IMPACT ENERGY INTENSITY 6.41 Total Energy Consumption (GJ) Energy Intensity (GJ/oz) 6,155,879 GJ FY-2020 7.04 ENDEAVOUR MINING 15,447,836 GJ INSIGHTS > Acquisition of Sabodala-Massawa and Wahgnion mines, which aren't connected to the grid, contributed to increase in energy consumption and GHG emissions FY-2021 > Appointed Group Head responsible for hydrocarbons and energy transition GHG EMISSION INTENSITY Scope 1+2 GHG Emissions (kt CO2 Eq) GHG Intensity (ktCO2-e/oz) 0.48 462 ktCO2-e FY-2020 0.54 853 ktCO2-e FY-2021 TARGETS > -30% reduction in CO2-e emission intensities by 2030 > Net Zero by 2050 ambition CURRENT STRUCTURE OF OUR CARBON FOOTPRINT Scope 1 Scope 3 21% Scope 2 8% 71% ACTIONS > Conducting detailed study identifying decarbonisation opportunities > Solar initiatives underway at Sabodala- Massawa and Houndé > Carbon reduction strategy linked to executive pay 121#122PROTECTING THE ENVIRONMENT Water Stewardship > Our approach is to use water as efficiently as possible > We pay for the water we use, as part of our water permits > 2021 increase in water withdrawal and consumption due to the expanded asset portfolio > We plan to set Group water reduction targets in 2022 WATER CONSUMPTION INTENSITY Water Withdrawal (ML) Water Withdrawal Intensity (KL/oz) 7,376 ML 7.68 KL/oz FY-2020 ENDEAVOUR MINING 10,042 ML 6.36 KL/oz FY-2021 Senegal Low <10% SABODALA-MASSAWA Arid and low water use Guinea Sierra Leone Low-medium 10-20% Mine Liberia Medium-high 20-40% ITY Mali WAHGNION Côte d'Ivoire High 40-80% eve Abidjan Regional Office Burkina Faso MANA HOUNDÉ Ghana Extremely high >80% BOUNGOU Togo Benin 122#123PROTECTING THE ENVIRONMENT Responsible Tailings Management > Our goal is to ensure Zero Harm through effective TSF management, as governed by our Group Tailings Policy > Conduct regular internal and external audits, results are reported back to senior management and the Board > We support the Global Industry Standard on Tailings Management (GISTM) and are working towards alignment > Annual tailings disclosure published our website, as part of the Investor Mining and Tailings Safety Initiative (Church of England) > No significant incidents involved cyanide during 2021 > In 2021 and Q1-22, independent external reviews conducted on all TSFs, with no serious issues identified ENDEAVOUR MINING 0 TSF-related incidents Senegal SABODALA-MASSAWA Mines Guinea Sierra Leone Downstream Liberia Audited Annually ITY Mali Upstream MANA WAHGNION Côte d'Ivoire X Abidjan Regional Office Burkina Faso HOUNDÉ 100% audited by 3rd party VI Ghana Togo Niger BOUNGOU Benin Nige 123#124PROTECTING THE ENVIRONMENT Biodiversity - Protecting Africa's Fauna & Flora > Goal is to effectively manage biodiversity and reduce our impacts throughout the life of our mines and post closure > We have a multi-pronged approach to protect ecosystem health through biodiversity sensitivity mapping, conservation, education, staff incentives and smart rehabilitation practices > Finalising a group-wide biodiversity strategy in 2022 Protecting the Senegalese Chimpanzee > In 2021, we introduced a ~1,500 ha 'No Go Zone' to protect the chimpanzees at Sabodala-Massawa > Protective walls has been built between pits and the forest to protect the chimpanzee corridor, with provision of water holes for wildlife > Community will provide surveillance patrols and bushfire prevention > Also conducting genetic studies of the chimpanzees ENDEAVOUR MINING 1445000 1440000 1435000 1430000 Protect & Preserve 600ha 2022 target 810000 Sofia North Extension SFN N Matiba 2 KB Main 810000 Makana Tinkoto Kaviar 0 10ha/mine 2022 target 815000 20 Km to Sabodala Process Plant Thianga Restore 1 Massawa Biodiversity protection areas 815000 Tiwana Soma 2 km 820000 Tina Rampad No Mining on World Heritage Sites 820000 Massa Cam 825000 Pilot Project 200 ha 825000 Legend Villages Mandankholing - Communities roads. Drainage Exploration priority targets Chimpanzee nest Mining Permit Biodiversity protection areas Potential compensation area High conservation priority. Medium conservation priority. Low conservation priority Mines infrastructures Open pits WRD Dilutions Reservoirs Camps Mines roads 1440000 1435000 1430000 124#125PROTECTING THE ENVIRONMENT Towards ZERO Plastic > Developing a 'Towards ZERO Plastic' Strategy Will be conducting a baseline on waste management during 2022 > > Liaising with our mine site supply chains to explore opportunities > Eliminate single use plastic water bottles at all our operations by 2023 > Conduct group-wide awareness campaign > Conduct feasibility study on a pyrolise project at Sabodala-Massawa > Plastic valorisation project at Hounde under investigation ENDEAVOUR MINING 125#126CREATING JOBS & UPSKILLING TALENT OUR EMPLOYEES 5% Nationals Local Communities 95% Of employees are West African nationals with 39% from local communities 39% MINING Expatriates 56% INSIGHTS > In 2021, 459 nationals promoted › 352 young people offered internships in 2021, a 65% increase y-o-y ENDEAVOUR > LEO - our online training and professional development platform launched You OUR SENIOR MANAGERS Nationals Local Communities 38% Regional Foreign 45% 5% 55% Of Senior Managers are West African nationals 12% TARGETS > Develop leadership training programme for employees in management positions ENDEAVOUR MINING ACTIONS > Training & upskilling our employees to equip them to be the leaders of tomorrow > Endeavour Academy is our 'university' for training & career development > Management Development Programme is our flagship future leaders initiative 126#127BOOSTING LOCAL ECONOMIES PROCUREMENT BUDGET National and Local suppliers Foreign Suppliers 20% $1.3B Spent on in-country procurement INSIGHTS > Our supply chains multiply our positive impact on the economies of our host countries, strengthening local businesses and creating direct & indirect employment 80% > Supported 1,700 businesses in our host countries in 2021 ENDEAVOUR MINING PAYMENTS TO GOVERNMENTS Senegal Burkina Faso Cote D'Ivoire $87m $89m $543m Taxes, Royalties and Dividends paid to our Host Countries $367m TARGETS > 75% host country sourcing for 2022 > (Part of 2022 Group KPI, with a 10% weighting) ECONOMIC CONTRIBUTION TO HOST COUNTRIES Employee salaries, benefits and social invesmtents Payments to Government National procurement > $1,023m FY-2020 ACTIONS -$139m -$262m $622m $2,029m -$225m - $543m FY-2021 Publish annual ESTMA report $1,262m > Adopted Local Procurement Reporting Mechanism for further transparency > In 2022 publish standalone Tax and Economic Contribution Report 127#128THE ENDEAVOUR FOUNDATION > Launched in 2021, the Endeavour Foundation is our primary vehicle to implement projects beyond the mine, focused on regional, national and trans-border > Focused on social investment and sustainability > The Great Green Wall > Partnership with Senegalese Agency for Reforestation > Support annual reforestation of >100 hectares > Investment of 40 million F CFA > 'One Village without Malaria' > Partnership with Ministry of Health in Burkina > Aims to reduce incidence of malaria by 90% & achieve 0% malaria mortality rate by June 2023 > 2 x Education Projects › 3-Year Agreement with top Burkina Faso universities to boost careers in mining, with 60 students/yr benefitting from this project > Bursaries offered to 97 high-achieving children of our employees to support their studies ENDEAVOUR MINING $295k Invested in 2021 Tracé indicatif du projet de reforestation Mauritanie Mali Gambie Sénégal 1000 km Burkina Faso Pays concerné par le projet Niger Nigeria Zone sahélienne Tchad La grande muraille verte : 7 600 km de long 15 km de large Soudan Erythrée Soudan du Sud ENDEAVOUR FOUNDATION Ethiopie NDATION IDEA Djiboutinergies SOURCE: AGENCE PANAFRICAINE DE LA GRANDE MURAILLE VERTE TECT ONN velables estion de onservatio biodiversit duction c ts plasti FONDATI ENDEA INVEST DANS PAYS 128#129ECODEV - ENDEAVOUR'S IMPACT INVESTMENT FUND > Established by Endeavour to support national economic growth > Invests in the creation of local long-term, sustainable, SMEs with reputable partners > Mali Shi > Mali is 2nd largest producer of shea nut and accounts for ~20% global supply of shea > Until Mali Shi Project, it had no industrial processing capabilities => just a price taker > Supporting women nut farming cooperatives » Ranch du Tuy > West Africa's 1st large scale commercial feedlot > Helping to make Burkina Faso a regional leader in beef production and export > Under construction > 2022 Target - Identify a new business prospect to advance to feasibility stage ENDEAVOUR MINING $3.2m A Invested 2019 - 2021 ECODEV ENDEAVOUR MINING SGI 129#130COMMUNITY ENGAGEMENT INSIGHTS > 1,825 community consultations in 2021 > Grievance resolution rate improved from 70% to 93% > New Social Responsibility Policy developed and new social performance management system launched > Range of income-generating activities in place, with a focus on the youth and women > ASGM (Artisanal & small-scale gold mining/miners) > ASGM present across all our sites > Each ASGM site has a different local context, so a 'one size fits all' approach is not suitable > ASGM range from local people to migrants, along with a rise in mechanisation - there isn't a generic solution > In 2021, we developed an ASGM management plan to help develop inclusive solutions, track actions and manage stakeholders > We invest in projects that facilitate alternative livelihoods for ASGM ENDEAVOUR MINING 1972 CASE STUDY – Sabodala-Massawa: - To support alternative livelihoods for ASGM, the mine worked with one of the ASGM families to purchase a water truck for dust suppression activities. A bank loan was secured, supported by a letter of intent from the mine. This contractor has since grown and his firm went on to win a tender to build classrooms for the community. In the 18 months to June 2021, the contractor and his team generated revenue of nearly $1 million, which has boosted the local economy and in turn facilitated peaceful cohabitation. 130#131TARGETING ZERO HARM LOST TIME INJURY FREQUENCY RATE (LTIFR) 0.26 0.20 FY-2020 FY-2021 LTIFR is calculated as number of LTIs in the Period X 1,000,000)/(Total people hours worked for the period) INSIGHTS > Zero fatalities reported in 2021 > LTIFR well below industry benchmark, despite 8 LTIs in 2021 > Achieved 12% reduction in malaria cases y-o-y, beating our 10% reduction target ALL INJURY FREQUENCY RATE (AIFR) 3.66 FY-2020 FY-2021 AIFR is calculated as LTIS+MTIS+RWIS+FAIs in the Period X 1,000,000)/(Total people hours worked for the period) TARGETS 3.47 > Zero fatalities > > 5% reduction in TRIFR for 2022 > 15% weighting for 2022 Group KPIs > Target 10% reduction in malaria (cases or incidence rate) Note: FY-2020 and FY-2021 performance excludes Agbaou which was divested in March 2021 ENDEAVOUR MINING MALARIA INCIDENCE RATE 119.80 106.50 FY-2020 FY-2021 Malaria Incidence Rate is calculated as the number of Malaria cases per million hours worked ACTIONS > Strong safety culture established > Preparing for formal ISO 45001 certification process > Ramp-up our anti-malaria campaign and continue to provide HIV/AIDS testing & counselling 131#132DIVERSITY & INCLUSION FEMALE REPRESENTATION IN TOTAL WORKFORCE 8% FY-2020 9% FY-2021 INSIGHTS > Female representation remained flat due to acquisition of Teranga assets > 33% increase in women in technical roles > 24% women are direct reports to members of the Executive Management Team WOMEN AT ENDEAVOUR Management Technical/Supervisors 22% 10% 508 Women employees 35% Skilled Semi-Skilled 33% TARGETS > Continue to increase female representation across the business > Implement the Women's Empowerment Principles > Establish a Diversity Steering Committee ENDEAVOUR MINING ACTIONS > EDV Femmes networking group in place which hosts monthly events and helps build bridges across sites & departments > Ity 'Women in Mining' inspiring video broadcast on national TV to encourage women to consider a career in mining 132#133ETHICAL BUSINESS HUMAN RIGHTS > Our Human Rights Policy is reviewed annually, and we publish an annual Modern Slavery statement > Any human rights-related grievances are reported quarterly to the Board > Our security processes are aligned with the Voluntary Principles on Security and Human Rights (VPSHR) and we train all our security personnel (employees + contractors) > In Q1-2022, we submitted membership to join the VPSHR ENDEAVOUR MINING ANTI-BRIBERY/CORRUPTION > Independent 3rd party 24/7 whistleblower hotline > DD is conducted on all suppliers > Any reported breaches investigated by our compliance department, who report to the Board Audit Committee 2021 SNAPSHOT Email: > 10 complaints investigated, 0 substantiated > Zero reported cases of bribery 24 hour Whistleblower Hotline Côte d'Ivoire, Mali, Burkina Faso, Senegal Call Collect/Reverse Charge: UK, Europe and North America: Website: +1-604-922-5953 +1-866-921-6714 [email protected] www.integritycounts.ca/org/endeavourmining INTEGRITY COUNTS (Rapportez l'incident > RESPONSIBLE SOURCING > All gold produced by Endeavour sourced from our own operations Gold is refined by Metalor, certified member of the LBMA, RJC and Fairtrade certified trader > In 2021, joined Single Mine Origin (SMO) initiative which offers fully traceable gold from mine to end product for the customer SINGLE MILL ORIGIN > In 2022 publish our 1st Conflict Free Gold Standard report SIMO ZAMIAN loz FIME GOL ITY MINE ENDEAVOUR ENDEAVOUR COTLAN MINING MINING PORATIO CORPORA 133#134GOVERNANCE FRAMEWORK & ESG EXECUTIVE COMP Health, safety Human Social & environment resources performance Corporate Ity Mine MINING ESG Committee Our sustainability framework Policies and Partnerships X ENDEAVOUR Sabodala Massawa Mine THE BOARD Executive Management Committee Finance Houndé Mine Executive ESG SteerCo Audit Committee Governance Structure Legal & Supply compliance chain Investor relations IT Projects Exploration Wahgnion Mana Boungou Mine Mine Mine Systems and Standards DEFINING MATERIAL ISSUES AND STAKEHOLDER ENGAGEMENT Metrics and Targets Quarterly Quarterly Sector Specialists Day to Day Operations Reporting on Progress 134#135ALIGNING ESG PRIORITIES THROUGH EXEC COMP. SHORT-TERM INCENTIVE LONG-TERM INCENTIVE FY-2022 Target 5% reduction in TRIFR 75% host country sourcing A reduction in kgCO2-e/oz of gold produced, to be confirmed by the Board Replace diesel generators with equivalent renewable power All TSFs compliant with the Board defined Standard at existing mines ENDEAVOUR MINING Weighting 15% 10% 5% 7.5% 7.5% FY-2021 Target 10% reduction in TRIFR 10% reduction in malaria cases vs 2020 Implementation of a Carbon Reduction Strategy and commissioning of at least one significant renewable energy power plant by end of 2023 Weighting 10% 10% 12.5% FY-2020 Target 10% reduction in TRIFR 25% increase in female representation from 8% to 10% External assurance of the RGMPs Weighting 10% 10% *Annual conformance with the RGMPs, supported by external assurance at both the corporate and site level, is a membership requirement for the WGC. Member companies have until September 2022 to achieve conformance and assurance and until June 2023 to publicly disclose this as part of the corporate reporting cycle. For assets that are acquired post 2019, member companies have three years to achieve conformance at those sites. 12.5% 135#136STRONG CORPORATE GOVERNANCE Aiming for close alignment with UK Corporate Governance Code Size of Board = 9 8 Non-Executive Directors (NEDs) 5 1 Executive Independent NEDS ENDEAVOUR MINING Board Members - post 2022 AGM Srinivasan Venkatakrishnan lan Cockerill (SID) Alison Baker Livia Mahler Tertius Zongo 55% of the Board are women or visible minorities Nationalities represented on the Board Board Members by Gender Independent NED & Chair Senior Independent NED Independent NED Independent NED Independent NED 2/9 Female Board Members Sébastien de Montessus Executive James Askew David Mimran Naguib Sawiris NED NED NED Board experience by sector Strategy & Leadership Metals & Mining Finance Public Policy Human Resources Board Members by Ethnicity Accounting International Business Operations & Exploration Corporate Governance Sustainability 3/10 Average Board tenure 4 years Age Range 51-73 years 8 out of 9 NEDs have been appointed in since CEO appointment in 2016 136#137KEY ESG 2022 TARGETS €13 ZERO HARM Zero Fatalities 25% reduction in TRIFR Target 10% reduction in malaria (cases or incidence rate) DEVELOPING LOCAL TALENT Establish a Diversity Steering Committee Develop leadership training for employees in management positions Implement the Women Empowerment Principles MINING ENDEAVOUR ADDRESSING CLIMATE CHANGE Finalise decarbonisation strategy roadmap Set a Group water target in 2022 Protect 600 ha of land across Group's & restore 10 ha/mine 阴 ETHICAL BUSINESS Publish externally assured Conflict Free Gold Report Publish First Tax and Economic Contribution Report INVESTING IN OUR COMMUNITIES Define a Local Content Policy Develop Local Procurement Plan per site Identify new ECODEV business prospect RATING AGENCIES Continue to improve scores through disclosure & reporting 137#138SY WEST AFRICA INSIGHTS 5 435 Watch video 138#139GOLDEN IN WEST AFRICA OPPORTUNITY Endeavour is strategically positioned with an unmatched competitive advantage in the region. ENDEAVOUR MINING WEST AFRICA No. 1 for global gold discoveries over past decade 2nd largest global gold producing region ENDEAVOUR'S PRESENCE No. 1 Gold producer in the region and in each of the countries in which we operate 20% Endeavour's portion of the industry's exploration spend in West Africa LA +$2bn Invested in the region over past five years by Endeavour and its acquired companies 139#140WEST AFRICA IS THE FASTEST- GROWING GOLD PRODUCING REGION +90% production increase over last decade 12% of global gold production in 2020 ENDEAVOUR MINING WEST AFRICAN PRODUCTION GROWTH West African Mine Supply 12.5Moz 10.0Moz 7.5Moz 5.0Moz 2.5Moz 0.0Moz ▬▬▬▬▬ 1990 1991 1992 1993 1994 Ghana and Other MII Source: Stifel Research May 2021. ▬▬ Mali 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Burkina Faso Côte d'Ivoire 41 Senegal 2015 2016 2017 2018 2019 Guinea 12.5% 10.0% 7.5% 5.0% 2.5% 0.0% % of Mine Supply Percentage of Global Mine Supply 140#141WEST AFRICA IS THE 2ND LARGEST GLOBAL GOLD PRODUCING REGION Given the golden opportunity in West Africa, 6 out of the top 10 senior gold producers have a presence in the region. ENDEAVOUR MINING ANNUAL GOLD PRODUCTION BY REGION In millions of ounces, for 2019 12Moz 12Moz ||| China West Africa 11Moz 10Moz Russia Australia 6Moz United States 6Moz 5Moz Ili Canada Source: World Gold Council. West Africa includes: Burkina Faso, Côte d'Ivoire, Ghana, Mali, Senegal, Guinea and Liberia. Peru 5Moz Ghana 4Moz South Africa 4Moz 3Moz Mexico Brazil 3Moz Uzbekistan 141#142ENDEAVOUR IS THE DOMINANT WEST AFRICAN GOLD PRODUCER Given its focus on West Africa, Endeavour has a strategic industrial benefit from being geographically focused yet diversified across multiple countries and assets. ENDEAVOUR MINING WEST AFRICAN GOLD PRODUCTION (2021E) Endeavour AngloGold Newmont Gold Fields Barrick B2Gold Kinross Nordgold IAMGOLD Perseus Resolute Golden Star Roxgold Asanko || 0.0Moz Source: Stifel Research May 2021. Company data, Stifel estimates. 0.5Moz 1.0Moz 1.5Moz 142#143ENDEAVOUR'S OPERATING MODEL › Geographic focus provides a strong competitive advantage › Largest producer in each of our operating countries > Hands-on management model with teams close to operations › Senior management team spends significant time in-country › General managers empowered and rely on strong Group Support Functions › Strong synergies from shared technical functions › Longstanding and trusted stakeholder relationships ENDEAVOUR MINING Dakar Senegal 1hr 30 SABODALA-MASSAWA Guinea Sierra Leone Liberia ITY Planning & Budgeting Geology Mali Bamako HOUNDÉ WAHGNION Côte d'Ivoire 1hr 35 1hr 45 2hrs Burkina Faso Ouagadougou MANA Abidjan Regional Office 2hrs Ghana Group support functions Community Processing Togo Niger BOUNGOU Benin Mining People HSE & Security Supply Chain Development 143 Ni#144ENHANCED SECURITY PLATFORM DUE TO SCALE IN THE REGION › Security unit structured as a business unit, led by ex-French military > Air strips on sites to avoid use of roads and improve operating efficiencies > Significant foreign aid and co- operation amongst West African nations > Strong relationship with in-country security forces including: > Government > French forces > Security squad allocated to Endeavour ENDEAVOUR MINING 1 1 Cabo Verde Vary Gambiad Guinea-Bissau controlrisks.com/riskmap Security risk forecast Very Low Senegal Sierra Leone Low Political risk forecast Mauritania Source: Control Risks 2021 Guinea Liberia Medium Burkina Faso Côte d'Ivoire Mali High Ghana High Benin Togo 3 São Tome and Principe Niger Nigeria PH Cameroon Extreme Equatorial Guinea Gabon Chad Central African Republic Congo Congo Democratic Republic of Angola Namibia M Mody Rwanda Burund Zambia Botswana Sudan South Sudan ware Uganda Zimbabwe South Africa HIGH security in deed urban ar Khartoum Tanzania Du M Lesotho Malawi MADRI Swatini Pos Banhe Eritrea Djibouti DG Kenya Ethiopia Mozambique Comoros Madagascar Seychelles 144#145WEST AFRICA IS THE 4TH LARGEST EXPLORATION FOCUS ACROSS THE GLOBE Given that exploration spend often foreshadows future production growth, West Africa has the potential to continue to be a large producing region. 10% of global budget is spent in West Africa ENDEAVOUR MINING +$5B spent in West Africa during last decade INDUSTRY 2020 EXPLORATION BUDGET In US$ millions 842 788 470 458 214 208 167 USA Canada Australia Russia West Africa China Mexico 116 Peru 105 102 100 95 IIII 85 84 Chile Mali Brazil Cote d'Ivoire Ghana Burkina Faso Source: S&P Global Market Intelligence. West Africa includes: Burkina Faso, Côte d'Ivoire, Ghana, Mali, Guinea and Senegal. 77 76 72 56 50 44 44 39 33 31 Colombia Ecuador Argentina Indonesia Finland Turkey Guinea Tanzania Senegal Papua New Guinea 145#146WEST AFRICA RANKS 1ST FOR DISCOVERIES OVER PAST DECADE The region is significantly under-explored compared to other regions. 79 Moz Discovered over past decade ENDEAVOUR MINING DISCOVERIES BY AREA For the period between 2006-2016 79Moz West Africa 50Moz Colombia 42Moz Chile 33Moz Canada 27Moz 27Moz USA Russia 23Moz 22Moz Burkina Faso Ecuador Source: S&P Global Market Intelligence. West Africa includes: Burkina Faso, Côte d'Ivoire, Ghana, Mali, Guinea and Senegal. 20Moz Mongolia 18Moz Mexico 16Moz 16Moz Ghana China 15Moz Australia 13Moz Mali 13Moz Côte d'Ivoire 11Moz South Africa 146#147ENDEAVOUR HOLDS ONE OF THE LARGEST LAND TENEMENT HOLDINGS IN WEST AFRICA S 60% of greenstone belt lies in Burkina Faso and Côte d'Ivoire but... MINING ...only represents ~30% of production since it is underexplored ENDEAVOUR Dakar Senegal SABODALA-MASSAWA Conakry Guinea Sierra Leone Mines Development Projects Birimian Greenstone Belt Liberia Mali Bamako KALANA ITY HOUNDÉ WAHGNION LAFIGUE Côte d'Ivoire Source: S&P Global Market Intelligence. West Africa includes: Burkina Faso, Côte d'Ivoire, Ghana, Mali, Senegal, Liberia, and Sierra Leone. Burkina Faso Ouagadougou MANA Abidjan Regional Office Ghana Endeavour has a strategic foothold in two of West Africa's most prospective belts Togo Niger BOUNGOU Benin Nigeria 147#148ENDEAVOUR CONTROLS THE FULL 125KM STRETCH ALONG THE ITY BIRIMIAN BELT GUINEA LIBERIA ENDEAVOUR MINING COTE D'IVOIRE LIBERIA Bin Houye Toulepleu DÁrman Toulepleu-lty Greenstone Guiamapleu Granite Gneiss Cavally River Ity Mine Floleu IZK Toulepleu-lty Greenstone Tiepleu N Cavally River 0 Gneissic Basement CÔTE D'IVOIRE MAHAPLEU Birimian Greenstone Belts Mining Permits Exploration permits Deposits Targets Km 25 148#149ENDEAVOUR HAS THE LARGEST FOOTHOLD ON THE HOUNDÉ BELT MALI MINING CÔTE D'IVOIRE B ENDEAVOUR BURKINA FASO GHANA Birimian Greenstone Belts Tarkwaian Type Sediments Exploration permits JV Exploration Permits Mining Permits Deposits Targets Km 100 Wahgnion Mine Banfora Greenstone BURKINA FASO AN Mana Mine Houndé Greenstone Houndé Mine Golden Hill Exploration Bantou Exploration Boromo Greenstone GHANA 149#150WEST AFRICA OPERATES AS AN ECONOMIC UNION West African Economic and Monetary Union (WAEMU) GIN BISSA O CFA AR LEONE LININA MALI BURKINA FASO CÔTE D'IVOIRE Oupringle MINING BENIN Common central bank for eight states NIGER Common currency pegged to the Euro Fiscal and monetary policies usually aligned with IMF guidance ENDEAVOUR States have undergone elections in past decade, closely monitored by the IMF STABLE MINING CODE Well balanced profit sharing: > Corporate tax rate between 25- 35% > Free-carried interests between 10-15% > Royalty rates based on sliding scale, linked to the gold price, ranging from 3 to 6% > OECD principles associated to tax base erosion well governed with appropriate withholding tax and thin capitalisation legislation in place > Standard tax principles and interpretation consistent in multiple countries within WAEMU zone (1) Lost Time Injury Frequency Rate= (Number of LTIs in the Period X 1,000,000)/(Total man hours worked for the period) (2) GMR, FY-2020 SECTOR SIZE Extractive sector represents a low % of GDP¹: > Senegal: 2% > Cote d'Ivoire: 5% > Burkina Faso: 9% > Mali: 8% 150#151UNMATCHED COMPETITIVE ADVANTAGE Dominant presence in the world's second-largest producing region STRATEGIC POSITIONING Largest producer in each country where we operate Largest exploration tenements Focused on being the partner of choice for governments ENDEAVOUR MINING SUPERIOR OPERATING MODEL In country and regional synergies Leveraging West African operating hub Shared technical services and group procurement strategy Trusted stakeholder relationships (1) Agbaou sold in 2021 and Nzema sold in 2017. Both mines developed by previous management team. ENDEAVOUR MINING MANAGEMENT TRACK RECORD Discovered 11.5Moz of Indicated resources at <$25/oz over past five years Built four mines on budget and on time in the last decade¹ Met production and AISC guidance for the last nine years 151#152APPENDIX 6 FODRIL POLYTANK 152#153APPENDIX 1 Company Profile, Management and Board ENDEAVOUR MINING 01#154COMPANY PROFILE Highlights Ticker Shares outstanding as at 22 March, 2022 Share price as at 22 March 2022 Market cap as at 22 March 2022 Net cash as at 31 March, 2022 Analyst target price and recommendations Broker Bank of America Barclays Berenberg BMO Canaccord CIBC Credit Suisse Edison Investments Global Mining Research Haywood Liberum Morgan Stanley National Bank Financial PI Financial Raymond James RBC Scotiabank Stifel Average Target Price Date 11 November 2021 17 March 2022 17 March 2022 17 March 2022 17 March 2022 17 March 2022 17 March 2021 7 March 2022 23 August 2021 26 January 2022 1 March 2022 LSE | TSX: EDV, OTXCQ: EDVMF 17 March 2022 2 February 2022 17 March 2022 21 March 2022 17 March 2022 17 March 2022 24 January 2022 Recommendation Buy Overweight Buy Outperform Buy Outperform Outperform Buy Buy Buy Hold Hold Buy Buy Buy Outperform Outperform Buy 249m £18.65/C$31.33 US$6.54bn US$167m Target Price CAD 38.50 GBP 24.50/ CAD 40.84 GBP 26.00/ CAD 44.00 CAD 42.00 CAD 48.00 CAD 38.00 CAD 40.00 CAD 47.86 CAD 38.00 CAD 46.00 GBP 13.16/CAD 22.30 GBP 18.30 / CAD 30.50 CAD 45.50 CAD 46.00 CAD 43.00 CAD 44.00 CAD 41.00 GBP 27.70/ CAD 47.25 CAD 41.26 Top Shareholders Shareholder register as at 30 April 2022 Rank Institution name 1 La Mancha 2 BlackRock Investment Management (UK) 3 Van Eck Associates 4 Tablo Corporation 5 The Vanguard Group 6 7 8 9 10 ESG Ratings Coverage SAM Now a Part of S&P Global SUSTAINALYTICS ISS CORPORATE Franklin Advisers Norges Bank Condire Investors, LLC Ninety One UK Limited Dimensional Fund Advisors ACCOUNTIN ESG Reporting Standards TCFD € STANDARD BOARD REFINITIV TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES ENDEAVOUR GRI MINING vigeqiris MSCI % of S/O 19.4% 12.3% 10.2% 6.3% 2.6% 1.5% 1.5% 1.3% 1.3% 1.2% WORLD GOLD COUNCIL RGMP's CDP 154#155SOLID MANAGEMENT TRACK RECORD SÉBASTIEN DE MONTESSUS President & CEO MARK MORCOMBE COO JOANNA PEARSON CFO HENRI DE JOUX EVP People, IT & Supply Chain PATRICK BOUISSET EVP Exploration & Growth MORGAN CARROLL EVP, Corporate Finance & General Counsel PASCAL BERNASCONI EVP, Public Affairs, Sustainability & Security ● ● ● ● ● ● ● ENDEAVOUR MINING Sébastien de Montessus is President and CEO of Endeavour Mining. Under his leadership, he has introduced key strategic objectives that have created a sustainable business that generates long term cash flow Previously, Sébastien served as the CEO of the La Mancha Group between 2012 and 2016. Under his leadership, La Mancha doubled its production through optimization efforts before undergoing a significant portfolio restructuring Mark Morcombe joined Endeavour Mining in May 2019 as Chief Operating Officer, bringing with him more than 25 years of experience in the mining industry with extensive expertise in leading safety, environment, mine planning, cost and productivity initiatives Prior to joining Endeavour, Mark held similar roles of Chief Operating Officer at Centamin Plc and Acacia Mining Joanna Pearson joined Endeavour Mining in September 2020 and assumed the role of Executive Vice President and Chief Financial Officer in January 2021 Prior to joining Endeavour, Joanna had a successful career at Deloitte (Canada) with more than ten years' experience as an audit partner, including six years as the audit partner responsible for Endeavour Henri de Joux joined Endeavour Mining as Executive Vice President of People and IT in October 2016 Prior to this, Henri served as Chief Financial Officer and Chief Strategy Officer at Business France, the French agency in charge of developing export and attracting foreign investment Patrick Bouisset joined Endeavour Mining as the Executive Vice President of Exploration in November 2015, with over 30 years of experience in mining and oil and gas exploration Prior to joining Endeavour, he was Executive Vice President Exploration and New Ventures of La Mancha and before that, Vice President of Geoscience for Areva's Business Group Morgan Carroll joined Endeavour Mining at its inception as a mining company in 2011, and has over 15 years of experience in mining finance and advisory Morgan initially practised as a natural resources lawyer at a large multinational law firm in New York and London, and worked at several US and European banks in structured finance roles before joining Endeavour Financial on the advisory side in 2008 Pascal Bernasconi is Endeavour Mining's Executive VP for Public Affairs, CSR and Security Pascal joined Endeavour from the La Mancha Group, where he was General Manager of Société des Mines d'Ity, bringing with him significant experience managing complex operating environments 155#156BOARD MEMBERS Srinivasan Venkatakrishnan lan Cockerill (SID) Chair and Independent Non-Executive Director Sébastien de Montessus Executive ENDEAVOUR MINING Senior Independent Non-Executive Director James Askew Non-Executive Director Alison Baker Independent Non-Executive Director David Mimran Non-Executive Director Livia Mahler Independent Non-Executive Director Naguib Sawiris Non-Executive Director Tertius Zongo Independent Non-Executive Director 156#157ANALYST COVERAGE Firm Bank of America Barclays Berenberg BMO Canaccord CIBC Credit Suisse Edison Global Mining Research Haywood Securities Liberum National Bank Financial Morgan Stanley PI Financial Raymond James RBC Scotia Bank Stifel ENDEAVOUR MINING Analyst Lawson Winder Amos Fletcher Jonathan Guy Raj Ray Carey MacRury Anita Soni Fahad Tariq Charles Gibson David Radclyffe Geordie Mark Yuen Low Don DeMarco Dan Shaw Chris Thompson Craig Stanley Wayne Lam Ovais Habib Andrew Breichmanas Phone +1 416 369 7592 +44 20 7773 2225 +44 20 3753 3379 +44 20 7246 5430 +1 416 867 6130 +1 416 594 7296 +1 416 352 4593 +44 20 3077 5724 +61 2 9810 7330 +1 604 697 6112 +44 20 3100 2091 +1 416 869 7572 +44 20 7425 5853 +1 604 718 7549 +1 416 777 2291 +1 416-842-7840 +1 416 863 7141 +44 20 3465 1110 Email [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] davidr@globalmining research.com [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] 157#158APPENDIX 2 Mine statistics ENDEAVOUR MINING 02#159MINE STATISTICS On a quarterly basis (on a 100% basis) Physicals Total tonnes mined - Op¹ Total ore tonnes - OP OP strip ratio¹ (total) Total ore tonnes - UG Total tonnes milled Average gold grade milled Recovery rate Gold ounces produced Gold sold Unit Cost Analysis Mining costs - OP Mining costs - UG Processing and maintenance Site G&A Cash Cost Details Mining costs - OP¹ Mining costs - UG Processing and maintenance Site G&A Capitalized waste Inventory adj. and other Royalties Total cash costs for ounces sold Sustaining capital Total cash cost Mine-level AISC (1) Includes waste capitalized. 000t 000t Wit ore 000t 000t g/t % OZ 02 $/t mined $/t mined $/t milled S/t milled $000s $000s $000s $000s $000s $000s $000s $000s $000s $/oz $/oz 6,951 2,534 1.74 ITY 3.60 12.82 4.07 6,624 2,234 1.97 1,669 1,550 1.70 1.76 0.57 80% 77% 79% 67% 72,401 59,969 70,882 10,246 72,670 57,963 74,483 10,107 1,624 1.50 3.55 Q1-2022 Q4-2021 Q1-2021 Q1-2022 04-2021 Q1-2021 Q1-2022 04-2021 Q1-2021 Q1-2022 Q4-2021 Q1-2021 Q1-2022 Q4-2021 Q1-2021 Q1-2022 Q4-2021 Q1-2022 Q4-2021 6,816 3,747 2,105 709 2.24 4.28 25,000 23,484 3.71 11.88 12.19 4.6.2 3.07 768 25,265 2.03 6.12 2.73 7,600 KARMA 21,400 19,296 18,900 4,700 6,800 7,533 4,753 2,100 (1,200) (4,713) (3,498) 0 (8,500) (7,965) 664 (900) 1,700 15,200 0 1,504 7,900 5,830 7,189 51,400 43,400 53,273 5,238 715 1,500 6,100 707 749 728 854 786 1,504 1,246 1,380 0.71 0.79 66% 69% 20,465 21,573 19,763 22,396 4,553 5,145 12,686 12,297 13,937 1,182 1,242 1,338 777 1,625 2.85 3.14 8.48 14.83 7.58 2.20 6.82 2.73 10,008 2.06 5.83 1.72 10,585 1,233 8,466 8,043 3,447 2,367 0 637 3,106 25,600 101 1,295 1,300 1,226 2.05 95% 94% 73,065 77,260 72,496 73,340 1.94 HOUNDÉ 2.24 10.95 4.38 28,400 2.33 12.23 5.22 1,644 2,695 470 529 2.50 4.09 180 651 2.75 93% 90% 53,840 52,399 52,339 60,554 199 622 2.94 92% 66,054 52,567 67,031 54,195 1,147 1.89 91% 1.75 - 12.79 4.71 MANA 5.84 60.86 20.09 28,666 24,373 8.52 5.83 81.78 19.98 6.92 8,532 355 23.01 245 604 2.90 2.87 63.74 20.30 5.01 6,334 252 24.13 349 3.03 9,600 15,700 24,494 21,300 22,000 20,907 13,500 15,030 14,672 12,500 13,000 12,261 5,400 6,409 5,399 5,300 4,500 3,029 4,800 (3,500) (10,542) (3,015) (8,500) (5,500) (20,644) (9,400) 1,872 (2,500) 1,128 (935) 5,100 (100) 6,717 3,400 3,305 9,200 9,495 11,012 6,100 6,400 8,170 4,000 26,172 50,500 50,200 51,506 51,400 56,000 54,934 30,400 224 5,400 13,900 4,702 2,800 2,400 2,805 1,900 1,169 697 684 768 948 1,070 907 848 1,179 1,000 1,116 954 771 874 839 2.67 30.66 13.75 BOUNGOU 5.5.2 96% 95% 95% 33,841 34,927 59,747 35,838 33,817 57,859 352 901 3.36 4,294 6,672 12,076 12,789 10,173 8,965 301 13.27 246 26.11 1,708 6.07 1,719 6.44 1,100 8.25 1,054 7.51 3.10 - 32.10 17.33 315 ENDEAVOUR SABODALA- MASSAWA 825 MINING 2.55 2.30 35.11 12.06 12.22 9.01 1,054 3.10 974 3.41 0.99 89% 90% 91% 96,326 104,563 28,889 93,998 106,768 29,897 1,081 2.18 WAHGNION 11.99 16,900 13,269 17,038 27,800 27,921 7.62 2.64 10.90 5.64 959 1.64 92% 47,237 46,057 2.67 10.56 6.56 10,700 11,322 11,061 12,704 12,960 10,611 10,124 6,089 3,848 9,489 8,238 5,491 6,291 (8,785) (7,512) (7,693) (7,272) (4,186) (3,026) (10,062) (3,426) (8,830) 1,239 9,900 10,505 3,900 5,769 42,100 48,900 33,900 44,300 12,227 14,286 6,523 4,844 448 458 1,134 962 578 592 1,351 1,066 563 5,203 3,794 6,195 26,300 35,833 1,600 4,110 778 619 6.90 26,900 23,921 159#160MINE STATISTICS On a full year basis (on a 100% basis) Physicals Total tonnes mined - OP¹ Total ore tonnes - OP Open pit strip ratio¹ (total) Total ore tonnes - UG Total tonnes milled Average gold grade milled Recovery rate Gold ounces produced Gold sold Unit Cost Analysis Mining costs - Open pit Mining costs - UG Processing and maintenance Site G&A Cash Cost Details Mining costs - Open pit¹ Mining costs -Underground Processing and maintenance Site G&A Capitalized waste Inventory adjustments and other Royalties Total cash costs for ounces sold Sustaining capital Total cash cost Mine-level AISC (1) Includes waste capitalized. 000t 000t W:t ore 000t 000t % OZ OZ $/t mined $/t mined $/t milled $/t milled $000s $000s $000s $000s $000s $000s $000s $000s $000s $/oz $/oz FY-2021 24,950 7,906 2.16 6,248 1.67 80% 271,832 279,226 3.75 13.08 3.89 93,639 81,653 24,299 (15,964) (1,767) 27,473 209,300 23,951 750 836 ITY FY-2020 23,469 8,571 1.74 5,353 1.57 79% 212,812 208,121 3.36 11.94 3.10 78,883 63,931 16,574 (12,683) (7,390) 19,847 159,100 8,921 764 807 FY-2021 20,883 5,071 3.12 5,157 0.78 KARMA 67% 87,662 88,467 2.18 6.46 2.25 45,561 33,295 11,585 1,048 13,441 104,900 632 1,186 1,193 FY-2020 19,158 4,781 3.01 4,871 0.84 77% 98,185 98,313 2.32 6.75 2.16 44,443 32,910 10,524 (4,355) (2,976) 13,419 93,800 4,995 954 1,005 HOUNDÉ FY-2021 49,917 4,397 10.35 4,622 2.13 92% 293,155 292,579 2.11 13.31 5.24 105,538 61,496 24,187 (36,528) 7,208 35,700 197,600 49,089 675 843 FY-2020 43,495 5,324 7.17 4,228 2.21 93% 276,709 277,887 2.47 14.12 4.92 107,433 59,657 20,762 (33,132) 1,888 38,763 195,400 37,073 703 837 FY-2021 23,529 2,025 10.62 838 2,593 2.65 91% 204,507 211,424 3.74 71.61 18.95 5.81 MANA 87,911 81,204 49,135 15,066 (57,450) 3,173 25,195 204,300 12,603 966 1,026 FY-2020 15,642 900 16.38 412 1,222 3.38 92% 121,100 123,703 2.97 56.04 21.67 7.49 46,518 36,087 26,477 9,148 (40,448) 4,344 15,218 97,300 8,246 787 853 BOUNGOU FY-2021 26,439 1,437 17.40 1,352 4.07 95% 174,320 170,936 2.52 32.54 13.24 66,727 44,024 17,945 (32,485) 4,179 18,459 118,800 18,086 695 801 FY-2020 2,534 459 4.53 641 5.10 95% 94,165 100,782 4.78 35.10 16.85 12,100 22,493 10,751 2,843 11,475 59,700 1,707 592 609 ENDEAVOUR MINING SABODALA- MASSAWA FY-2021 40,933 6,603 5.20 3,777 3.19 90% 345,280 365,331 2.52 11.78 6.84 103,203 44,480 25,829 (15,132) (8,895) 35,946 185,400 50,251 507 645 WAHGNION FY-2021 27,185 3,807 6.14 3,322 1.43 94% 147,032 158,795 2.72 10.50 6.17 74,062 34,873 20,512 (8,600) 5,106 19,498 145,500 12,345 916 994 160#161EMISSIONS AND ENERGY On a full year basis Aggregate Emissions¹ (Scope1+2), kt Houndé Ity Mana Boungou Karma Sabodala-Massawa Wahgnion Corporate Group Total Emissions Intensity¹ (Scope1+2), kt CO2-e/oz Houndé Ity Mana Boungou Karma Sabodala-Massawa Wahgnion Group Total FY-2021 162.8 117.6 132.9 86.0 46.2 192.8 113.6 1.3 853.2 0.55 0.43 0.65 0.49 0.53 0.51 0.69 0.54 FY-2020 126.3 115.5 108.4 64.0 47.4 n.a. n.a. n.a. 461.9 0.47 0.38 0.49 0.45 0.48 n.a. n.a. 0.45 Variance (%) + 29% + 2% + 23% + 34% - 2% n.a. n.a. n.a. + 85% + 17% + 13% + 33% + 9% + 10% n.a. n.a. + 20% Aggregate Energy¹ Consumption, GJ Houndé Ity Mana Boungou Karma Sabodala-Massawa Wahgnion Group Total Energy Intensity², GJ/oz Houndé Ity Mana Boungou Karma Sabodala-Massawa Wahgnion Group Total FY-2021 2,026,860 1,881,153 2,558,819 1,796,123 843,418 4,008,734 2,332,729 15,447,836 6.21 5.25 9.08 6.88 7.52 6.85 9.31 7.04 ENDEAVOUR MINING FY-2020 1,615,355 1,446,685 1,534,533 971,298 679,798 n.a. n.a. 6,247,671 5.83 6.79 12.68 10.33 6.94 n.a. n.a. 7.78 (1) FY-2021 performance includes full calendar year consolidation of the Teranga assets, which were acquired in February 2021. FY-2020 and FY-2021 performance excludes contributions from Agbaou which was divested in March 2021. (2) FY- 2021 performance includes full calendar year consolidation of the Teranga assets, which were acquired in February 2021. FY-2020 and FY-2021 performance excludes contributions from Agbaou which was divested in March 2021. Variance (%) + 25% + 30% + 67% + 85% + 24% n.a. n.a. +147 % + 7% - 23% - 28% - 34% + 8% n.a. n.a. - 10% 161#162WATER STEWARDSHIP On a full year basis Aggregate water withdrawal¹, ML Houndé Ity Mana Boungou Karma Sabodala-Massawa Wahgnion Group Total Water withdrawal intensity¹, KL/oz Houndé Ity Mana Boungou Karma Sabodala-Massawa Wahgnion Group Total FY-2021 2,785 1,862 778 1,148 546 1,668 1,253 10,042 9.48 6.85 3.81 6.59 6.24 4.37 7.64 6.36 FY-2020 2,215 1,785 2,397 454 525 na na 7,376 8.00 8.39 10.97 2.93 5.35 na na 7.68 Variance (%) + 26% + 4% - 67% + 153% + 4% na na + 36% + 19% 18% - 65% + 125% + 17% na na - 17% ENDEAVOUR MINING (1) FY-2021 performance includes full calendar year consolidation of the Teranga assets, which were acquired in February 2021. FY-2020 and FY-2021 performance excludes contributions from Agbaou which was divested in March 2021. 162#163APPENDIX 3 Reserves and Resources, 5-year exploration target and security ENDEAVOUR MINING 03#164RESERVES AND RESOURCES As of December 31, 2021 Resources shown inclusive of Reserves Boungou Mine (90% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Houndé Mine (90% owned except Golden Hill) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Ity Mine (85% owned except Le Plaque) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Mana Mine (90% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Mines Reserves Au price $/oz Resources Au price $/oz Projects Reserves Au price $/oz Resources Au price $/oz ENDEAVOUR MINING On a 100% basis Tonnage Grade Content (Mt) (Au g/t) (Au koz) 0.6 9.3 9.9 0.6 10.5 11.1 0.1 2.3 44.6 47.0 2.4 101.5 103.9 20.5 11.9 51.2 63.0 12.1 77.3 89.5 27.1 1.3 10.1 11.5 7.5 30.1 37.6 7.8 Ity 1,300 1,500 Kalana 1,500 1,500 1.95 3.61 3.51 2.04 3.95 3.85 4.89 39 1,075 1,114 40 1,336 1,376 14 1.25 93 1.69 2,420 1.66 2,513 1.24 97 1.55 5,067 1.55 5,165 1.60 1,052 0.89 338 1.61 2,641 1.47 2,979 0.88 344 1.66 4,131 1.56 4,475 1.47 1,279 3.54 150 3.09 1,007 3.14 1,157 1.48 359 1.99 1,928 1.89 2,287 2.27 570 Resources shown inclusive of Reserves Sabodala-Massawa Complex (90% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Wahgnion Mine (90% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Bantou (90% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Lafigué Project (80% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Houndé 1,300 1,500 Lafigué 1,300 1,500 Mana 1,300 1,500 Bantou n.a 1,500 On a 100% basis Grade Content (Mt) (Au g/t) (Au koz) Tonnage 19.9 46.5 66.4 21.2 88.9 110.1 24.3 2.1 19.5 21.6 2.3 38.4 40.7 5.0 51.1 48.7 48.7 44.8 44.8 3.6 1.36 866 2.39 3,574 2.08 4,440 1.32 900 2.09 5,977 1.94 6,877 2.16 1,682 0.78 1.60 52 1,006 1.52 1,059 0.82 60 1.52 1,879 1.48 1,940 247 1.53 1.37 1.70 2,662 1.70 2,662 2.02 2.02 2.35 Boungou 1,300 1,500 Nabanga 2,245 n.a 1,500 2,916 2,916 269 Resources shown inclusive of Reserves Kalana Project (80% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Nabanga (90% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Afema (51% owned) Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources. Total Endeavour Mining Proven Reserves Probable Reserves P&P Reserves Measured Resource (incl. reserves) Indicated Resources (incl. reserves) M&I Resources (incl. reserves) Inferred Resources Sabodala-Massawa 1,300 1,500 Golden Hill n.a 1,800 Wahgnion 1,300 1,500 On a 100% basis Grade Content (Mt) (Au g/t) (Au koz) Tonnage 35.6 35.6 46.0 46.0 4.6 3.4 5.1 5.1 3.4 38.1 265.6 303.6 46.2 442.6 488.8 150.8 1.60 1,829 1.60 1,829 1.57 1.57 1.67 7.69 1.10 1.10 1.05 2,318 2,318 245 841 179 179 116 1.26 1.90 1,539 16,215 1.82 17,753 1.21 1,802 1.81 25,730 1.75 27,532 8,560 1.77 164#165EXPLORATON METHODOLOGY AND STRATEGY Selection, ranking and risk evaluation of exploration targets ENDEAVOUR MINING Endeavour's large land position (more than 17,000 sq Km) and comprehensive database over a very large number of exploration targets promotes the application of a general portfolio management theory where all numerous and independent exploration targets are statistically analysed and risked, according to their probability of success or occurrence. As applied to the Group's previous five-year exploration programme, Endeavour's exploration success has been based on the implementation of a systematic, statistically driven approach to selecting and optimising exploration targets. This approach was derived from a similar process used in the oil and gas industry to predict, analyse, rank and then prioritise a large number of exploration targets, as summarised below. It is important to note that this approach can only be performed with a significant number of independent exploration targets, where the larger the number, the better the global portfolio value estimate. Step 1: Exhaustive technical screening of the exploration portfolio based on geological data The initial screening incorporated the exhaustive identification, selection, and ranking of all possible exploration targets occurring within Endeavour's exploration portfolio. The technical analysis cross-referenced all available geological data, including geological maps, cross sections, structural data, surface geology, geochemistry, geophysics, regolith mapping, alteration profiles, drilling data, cores, analysis of artisanal mining activity, outcrops, and other survey data. Following this first screening, a total of 150 targets were identified and described. Step 2: 150 targets were further screened based on mining characteristics and the potential to have production costs below $900/oz The 150 targets were further screened by incorporating some tentative mining and processing costs parameters, to establish a selection of top targets which were appraised to have the potential to be produced at an All-in Sustaining Cost ("AISC") of less than $900/oz. The criteria used in this second screening phase included factors such as potential grade, metallurgy, strip ratio, production costs, mineralisation type, and distance to a mill. After this second screening phase, the selection was narrowed to 110 high priority targets. Step 3: Probabilistic ounce and average grade distribution of selected 110 targets This applied approach is similar to that used in the analysis of natural phenomenon and other industries where large volumes of calibration data are used to predict individual and then global outcomes. It can also be applied to an exploration portfolio containing a high number of identified targets where a significant amount of calibration data may allow an accurate prediction of the total ounces to be discovered over the full portfolio despite individual outcomes potentially varying widely. Based on available information, Endeavour characterized all the physical parameters such as length, width, thickness, density, grade characterizing each of the 110 selected targets to establish a prediction of the minimum, maximum and mean values distribution for each parameter related to each individual target. Since each of the selected targets cannot possibly be all positive, a probabilistic weighting, defined as a Probability of Occurrence ("POO") factor, was then applied to the mean values of each target. Since all 110 selected targets were defined as independent, the total value (total ounces predicted) of the portfolio could be approached by adding all the risked mean Indicated resources expected from each of the 110 targets. PoOs represent the confidence or supporting control Endeavour has in describing, precisely the deposit it is trying to discover. The PoO values were set for each of the selected targets on a scale ranging from 0.2 to 0.8, with the very few, very low probability targets generally being eliminated due to a "killing" factor, such as possible refractory characteristics, lower expected average grade or continuity, or other highly unfavorable parameters. The full analysis of the selected 110 targets resulted in the conclusion that up to 25Moz could ultimately be discovered over the full exploration portfolio, irrespective of the timeframe selected. 165#166EXPLORATON METHODOLOGY AND STRATEGY Selection, ranking and risk evaluation of exploration targets ENDEAVOUR MINING Step 4: Final selection of targets, with higher PoO and priority, which can be physically be included in the 5 year exploration plan Since Endeavour cannot feasibly explore the 110 targets, defined in Step 3, during the next 5-year period, the 110 targets were further assessed, classified and ranked against near term mine priorities. This resulted in the final selection of the top 70 targets deemed to better fit the overall strategy. The final output of the strategic exploration analysis is a quantitative, multi-screened and filtered estimate of the total potential ounces hosted in the Group's portfolio, where 15 to 20Moz of Indicated resources are expected to be discovered within the next five years. The applied approach does not mean that all selected and explored targets will be successful when taken individually, as some are likely to fail to deliver a deposit while others will outperform individual expectations. However, there can be reasonable confidence in achieving the total global estimated Indicated resources within the 5-year exploration programme. As such, it's reasonable to expect the achievement of the global target, but the individual successes that drive the global achievement may differ, sometimes significantly from the original estimate. Step 5: Strategic prioritisation to establish 5-year programme Finally, an individual risked budget was established for each target in order to reach an Indicated resource status level. To develop the execution plan, most selected exploration targets were then set within the 5-year exploration programme, according to corporate and mine priorities, license duration, sequencing of required activities and available exploration budget. 166#167APPENDIX 4 Debt Sources, Revenue Protection Program ENDEAVOUR MINING 04#168DEBT STRUCTURE Refinanced to provide a low cost, long-term debt structure REFINANCING INSIGHTS: > On 14 October 2021, the Company completed an offering of fixed rate senior notes due in 2026 and an unsecured RCF agreement due in 2025 > The proceeds of the Notes, together with the Group's available cash, were used to repay the Company's existing loan facilities while the RCF replaces the existing bridge facility and remains undrawn > The RCF and senior notes extend the maturities of the Company's existing debt structure, while providing enhanced financial flexibility and ample liquidity headroom DEBT STRUCTURE INCLUDE: $330 Convertible Notes > 3% coupon convertible notes matures in Februa 2023 > Ability to settle in cash or shares, conversion price¹ of CAD$29.84 (US$22.96) $500 Senior Notes > 5% fixed coupon rate notes mature in October 2026 > Issue price of 98.913% $500 Unsecured RCF > Coupon rate of 2.40 -3.40% plus LIBOR depending on leverage (if net debt to EBITDA is less than 1.00x the rate is 2.40% plus LIBOR) matures in October 2025 > The undrawn portion has a commitment fee of 35% of the applicable margin (0.84% based on currently applicable margin) Balance Sheet Structure (in $ million unless stated otherwise) Cash Convertible senior notes Senior notes Drawn portion of loan facility NET DEBT / (CASH) POSITION Net Debt / Adjusted EBITDA (LTM) $330m Convertible senior notes $500m Senior notes $500m Unsecured RCF² Total Drawn Debt 31 Dec 2021 (1) Conversion price As of February 15, 2022 after adjusting for FY-2021 cash dividend. Prior Conversion price of US$23.90 at Issue (2) $500m unsecured RCF remains undrawn at YE-2021, Interest rate shown based on effective rate as at 31 December 2021. 906 330 500 Debt Structure (as at 31 December 2021) 0 (76) (0.05)x Interest Rate, % 3.00 5.00 2.40 760 30 Sep 2021 330 0 500 ENDEAVOUR 70 MINING 0.05x Maturity Feb 2023 Oct 2026 Oct 2025 31 Dec 2020 715 330 0 310 75 (0.09)x Amount drawn/ outstanding 330 500 0 830 168#169SHORT TERM REVENUE PROTECTION PROGRAM Increased certainty of cash flow to achieve corporate objectives INSIGHTS > Endeavour entered into a revenue protection programme in Q1-2022 for a proportion of its production across FY-2022 and FY-2023, to provide greater cash flow visibility during its investment phase. > Structured as: - An upfront low premium collar with a put price of $1,750 per ounce and a call price of $2,100 per ounce for 75,000 ounces of production per quarter, from Q1-2022 until Q4-2023. Forward sales contract for approximately 520,000 ounces of production in FY-2022 and 120,000 ounces of production in 2023 at an average gold price of $1,831 per ounce and $1,828 per ounce, respectively. > In Q1-2022, the realized gold price was within the collar range. > In Q1-2022 the forward sales contracts were restructured, whereby 165,000 ounces, previously set to settle in Q1-2022, were pushed to settle later in the year and overall were restructured to a higher average price of $1,840/oz for FY-2022. Only 65,000 ounces were delivered to settle the forward sales contracts in Q1-2022. Gold collars Gold price in US$/oz 2000 1800 1600 1400 1200 1000 Houndé construction Ity CIL construction PROTECTED Growth and shareholder return focus Debt reduction focus ENDEAVOUR MINING Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 169#170ENDEAVOUR MINING CONTACT US T: +44 203 011 2719 [email protected] in Follow us: endeavourmining.com CORPORATE OFFICE 5 Young Street London W8 5EH United Kingdom T: +44 203 011 2723 OPERATIONS OFFICE Hotel Palm Club Croisement Boulevard Latrille et rue du Lycée Technique Abidjan 08 BP 872 Côte d'Ivoire T: +225 22 48 99 00 170