Endeavour Mining Investor Presentation Deck
Power
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
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