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TSX: WDO | OTCQX: WDOFF Q 3 2 0 2 5 NOVEMBER 5, 2025 H I G H L I G H T S
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Forward-Looking Statements 2 Forward-Looking Statements This document contains "forward-looking information" within the meaning of applicable Canadian securities legislation, which is based on expectations, estimates, projections, and interpretations as of the date of this release. Forward-looking information includes, without limitation, statements or information with respect to: the Company being well-positioned to continue capturing margin, achieving the mid to upper end of revised consolidated guidance and deliver one of the strongest free cash flow yields in the gold sector; Eagle River being on track to deliver production at the high end of its 2025 guidance; Q4 2025 production being driven by ore from high-grade Kiena Deep, Presqu’île and 136-level; the 6 Central Zone at Eagle River remaining open at depth and providing the potential opportunity to establish another new high-grade mining front at intermediate depths; follow-up holes at the 720 Falcon Zone at Eagle River planned for the fourth quarter; the remaining drilling of the first 20 targets of the global model planned for the fourth quarter; approximately 60% of the total targets of the global model expected to be included in the Eagle River 2026 NI 43-101 technical report (which will have a cutoff date of December 31, 2025), with the remaining targets being drilled in 2026; resource reviews and updates for the Mishi deposit expected at 2025 year end; geotechnical holes and Leachwell bottle roll tests for the former Angus mineral exploration claim areas planned for completion in Q4 2025; Kiena’s Q4 2025 expected to be the strongest of the year, along with the three expected mining horizons that ore will be coming from; the plan to transition from a contractor to an owner managed model at Presqu’île by end of year 2025 and the expectation that the change will positively impact performance and costs; the expectation that the Presqu’île mining permit will be received in Q4 2025; initial stope production at Presqu’île in Q1 2026; the Presqu’île exploration ramp development breakthrough forecasted in Q1 2026; drilling on the 134-level exploration drift at Kiena deep being planned to continue for the remainder of the year; the results of exploration drilling on 33-level at Kiena potentially suggesting that it could represent the northwest continuation of Shawkey Main mineralization; the suggestion that the results (if validated) from the drilling at Dubuisson showing that the optimal drill intersection angles would be achieved by surface drilling oriented from north to south; test holes to validate the model at Dubuisson scheduled to be drilled in Q4 2025; results from the modelling and interpretive work from Kiena’s surface exploration expected in Q4 2025; the expectation that Eagle River will deliver the high-end of its previously revised full-year 2025 production guidance and achieve its cost guidance; Kiena’s adjusted full-year production guidance, site cash costs and AISC; the Company’s updated consolidated cost guidance; the plan for the Company to update its 2026 guidance in mid-January 2026; the Company targeting to begin calculating AISC in accordance with the World Gold Council guidelines starting in 2026; and the Company’s planned conference call and webcast to discuss its Q3 2025 financial and operation results. These forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward- looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled “Cautionary Note Regarding Forward Looking Information” and “Risks and Uncertainties” in the Company’s most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Non-IFRS Performance Measures Certain non-IFRS financial measures and ratios are included in this presentation, including cash margin, free cash flow, cash costs, all-in sustaining cost. Please see the Company’s MD&A for the three months ended September 30, 2025, for explanations, definitions and discussion of these non-IFRS financial measures and ratios. The Company believes that these measures, in addition to conventional measures prepared in accordance with International Financial Reporting Standards (“IFRS”), provide investors an improved ability to evaluate the underlying performance of the Company. The non- IFRS and other financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers. For definitions and reconciliations of these non-IFRS measures, please refer to the last page of this presentation. Currency Unless otherwise disclosed, all references to “$” are to Canadian dollars and all references to “US$” are to United States dollars. Certain Other Information Any graphs, tables or other information demonstrating our historical performance, or any other entity contained in this presentation are intended only to illustrate past
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Participants on Today’s Call 3 Anthea Bath President and Chief Executive Officer Guy Belleau Chief Operating Officer Raj Gill Senior Vice President Corporate Development and Investor Relations Jono Lawrence Senior Vice President Exploration and Resources Kevin Lonergan Senior Vice President Technical Services Phil Yee Chief Financial Officer
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Q3 2025 Highlights 4 1. For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Performance Measures” in the Company’s latest MD&A for the period ended September 30, 2025. 50,465 oz Gold Produced $230M Revenue $87M Net Income $150M EBITDA1 $118M Net Cash From Operating Activities $79M Free Cash Flow1
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2025 Guidance Eagle River Kiena Consolidated Previous Jan 14, 2025 Updated Aug 13, 2025 Previous Aug 13, 2025 Updated Nov 4, 2025 Previous Aug 13, 2025 Updated Nov 4, 2025 Production Head grade (g/t) 13.0 - 15.0 14.0 - 15.0 10.0 - 11.0 10.0 – 10.5 12.0 - 13.0 12.0 - 13.0 Gold production (oz) 100,000 - 110,000 105,000 - 115,000 80,000 - 90,000 72,000 - 78,000 185,000 - 190,000 177,000 - 193,000 Operating Costs Depreciation and depletion ($M) $55 $45 $60 $60 $105 $105 Corporate and general1 ($M) $12 $15 $15 $15 $30 $30 Exploration and evaluation2 ($M) $5 $10 $10 $10 $20 $20 Cash costs3 ($/oz) $1,225 - $1,350 $1,225 - $1,325 $1,200 - $1,375 $1,350 - $1,450 $1,225 - $1,350 $1,275 - $1,375 All-in sustaining costs3 ($/oz) $1,875 - $2,075 $1,925 - $2,075 $1,925 - $2,200 $2,175 - $2,350 $1,925 - $2,125 $2,025 - $2,175 All-in sustaining costs3 (US$/oz) $1,400 - $1,550 $1,375 - $1,500 $1,400 - $1,575 $1,575 - $1,700 $1,375 - $1,525 $1,450 - $1,575 Capital Investment4 Total capital ($M) $65 $70 $120 $120 $190 $190 Sustaining capital ($M) $60 $65 $55 $55 $120 $120 Growth capital ($M) $5 $5 $65 $65 $70 $70 (1) Consolidated 2025 guidance for corporate and general costs excludes an estimated $7 million in stock-based compensation. Corporate G&A of $30 million is allocated equally to each mine and is included in the Company’s AISC calculation. (2) Exploration and evaluation costs primarily include surface drilling activities and regional office expenses. (3) Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of non-IFRS measurements to the financial statements. (4) Total capital expenditures are the sum of sustaining and growth capital expenditures and are reported under investing activities on the statements of cash flows in the Company’s financial statements. Updated 2025 Guidance1 5
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Upcoming Milestones & Catalysts 6 Q4 2025 Eagle River and Kiena exploration updates Commence level 136 stoping in Kiena Deep Complete access and development in level 142 in Kiena Deep Complete Kiena ramp and commence Presqu’île stoping Q1 2026 H1 2026 Announce results of NI 43-101 reports Q2 2026 2027
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Financial Highlights 7
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46.6 76.2 94.6 124.6 127.6 149.4 168.4 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 40.7 67.9 84.6 114.9 119.4 138.4 149.6 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 46.5 57.1 61.0 76.4 80.2 100.9 118.2 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 19.4 28.4 30.8 39.9 47.5 52.9 79.0 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Record-Setting Third Quarter Financial Performance 81. For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Performance Measures” in the Company’s latest MD&A for the period ended September 30, 2025. Operating Cash Margin ($M) Increased by ~260% compared to Q1 2024 EBITDA ($M)1 Increased by ~270% compared to Q1 2024 Net Cash From Operating Activities ($M) Increased by ~155% from Q1 2024 Free Cash Flow ($M)1 Increased by ~305% compared to Q1 2024
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122 139 YTD 2024 YTD 2025 45 50 Q3 2024 Q3 2025 9 Q3 2025 All-in Sustaining Costs per Ounce1 1. For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Performance Measures” in the Company’s latest MD&A for the period ended September 30, 2025. 2. Net of corporate development costs. 3. Net of silver byproduct credits. $102 Sustaining mine capital development $1,419 USD Q3 Production (koz) YTD Production (koz) $236 Sustaining mine exploration and development $30 Tailings management facility $105 Corporate and general2 $2 Payment of lease liabilities $944 Cash costs3 On Track to Achieve Revised 2025 Consolidated Production & Costs Q3 2025 Average Realized Gold Price: US$3,523 / oz
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48 51 83 123 168 188 266 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 10 Cash Balance ($M) Total Liquidity ($M) $266M Cash and Equivalents $615M Total Liquidity Growing Cash and Strengthening Balance Sheet with Liquidity of $600M+ US$250M Revolving Credit Facility
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Operations 11
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68 88 YTD 2024 YTD 2025 24 34 Q3 2024 Q3 2025 Highest quarterly production in asset history 300 Zone ramp development is a year ahead Transition from contractors to in-house providing additional savings 50%+ of development metres completed in-house by Eagle River Managing stockpile Eagle River – Record Q3 and YTD 2025 Performance 12 HighlightsQ3 Production (koz) YTD Production (koz)
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Kiena Deep achieved production forecast for August and September Delivered highest monthly gold production of the year in October Mining in three mine horizons in Q4 Resolved maintenance and hoist issues Transitioning to owner operated development at Presqu’île 55 50 YTD 2024 YTD 2025 21 16 Q3 2024 Q3 2025 Kiena – Operational Improvements at Kiena Deep, Shortfall at Presqu’île 13 HighlightsQ3 Production (koz) YTD Production (koz)
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Level 109 Exploration Drift (VC Zone, NW, NE in 2025) 0 m Existing shaft to 930m depth New ramp to surface -1,000 m -1,500 m -500 m Level 134 Exploration Drift (Kiena Deep and Foowall Zone – 2025) Level 11 Increasing Operational Flexibility at Kiena Three active mining areas Two ways to move people and materials More than 5 exploration drifts Mineralized Zone Projected Stopes 2026 As Built Development Projected Stopes 2027 2 1 2 1 1 3 3 3 3 Presqu’île Exploration (Presqu’île - 2025) 14 Level 103 Exploration Drift (Kiena Deep) 2 Level 33 Level 33 Exploration (Shawkey, Dubuisson, Wish Area - 2025)3 Presqu’île active mining area Kiena Deep and 136-Level active mining areas 3
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Exploration 15
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Eagle River - 6 Central Zone Has Grown to Over 600 Metres Down-Plunge 16 758-E-500 40.1 g/t Au / 8.0 m 758-E-578 13.2 g/t Au / 1.6 m 758-E-5822 19.2 g/t Au / 1.8 m 758-E-580 115.9 g/t Au / 1.8 m 758-E-539 12.5 g/t Au / 1.5 m Intercept highlight (this release) Intercept highlight (previously released) Existing development Mined out YE 2024 Resource shapes Mid-year 2024 Resource shapes1 Interpreted high-grade trend 758-E-552 53.0 g/t Au / 1.5 m 25-805-02 36.0 g/t Au / 1.4 m 758-E-561 33.8 g/t Au / 1.8 m 25-805-12 47.0 g/t Au / 3.4 m 758-E-570 49.1 g/t Au / 2.2 m 758-E-571 38.4 g/t Au / 2.0 m 0 50 100 150 200m +11250E A B 758-E-533 21.4 g/t Au / 1.5 m 1. 6 Central Parallel Zone
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Number of Global Model Targets is Growing With Drilling Underway 17 300 Zone 800 Zone 700 Zone 600 Zone Falcon 720 GM1 GM2 GM4 GM5 GM7 GM9 GM8 GM10 GM11 GM12 GM15 GM16 GM13 GM17 GM18 GM19 GM23 GM24 GM20 GM21 GM25 GM26 GM27 GM30 GM29 GM31 GM32 800C 300B 800E 800F 600B 600A GM3 GM22 GM28 300 Fold Zone 2 Zone Falcon 311 Existing workings 2024 drill targets (higher confidence) 2025 drill targets (lower confidence) 2025 drill targets (higher confidence) YE 2024 resource shapes 800A 800B 0 250 500 750 1,000
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Regional Programs are Ramping Up With Testing of Targets at Eagle River 18 Abbey Lake Cameron Lake Iron Formation Birch Vein / Eagle River Splay Dorset Eagle River Mine >100,000 oz Tier 4 50,000 – 100,000 oz 10,000 – 50,000 oz < 10,000 oz Size Potential Tier 5 Tier 6 Exploration Priority Exploration Program Ground geophysics Structural Mapping Soil geochemistry 2025 Drilling 10 km0 5 Mishi Magnacon
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Surface Drill Program Testing New Targets at Kiena 19 Dubuisson Presqu’île Northwest 134 Zone 0 250 metres 500 750 N Exploration Ramp Planned Level 33 134 Exploration Drift Level 33 Wesdome Holes drilled in Q3
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Surface Drilling at Dubuisson Leads to Reinterpretation and Extension at Depth 20 Dubuisson North Dubuisson South Level 33 Drift Dubuisson Deposits Diorite Lakebed DB-25-068 (North) 1.0 g/t Au / 13.6 m DB-25-068 4.1 g/t Au / 25.8 m Incl. 6.1 g/t Au / 6.1 m DB-25-068 1.3 g/t Au / 8.8 m DB-25-068 2.8 g/t Au / 5.5 m Metres
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Q&A 21
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Appendix 22
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Eagle River – Q3 & YTD 2025 Operating Highlights 23 Eagle River Operating Results Q3 2025 Q3 2024 % Change YTD 2025 YTD 2024 % Change Ore milled (tonnes) 71,575 57,984 23% 180,208 162,168 11% Head grade (g/t) 15.3 13.1 17% 15.9 13.4 19% Average mill recoveries (%) 97.3 97.0 0% 96.8 96.8 0% Gold production (oz) 34,296 23,688 45% 88,907 67,859 31% Gold sold (oz) 32,700 21,340 53% 87,400 66,200 32% Production costs per tonne milled1 ($) 509 545 (7%) 562 570 (1%) Costs per ounce of gold sold ($/oz) Cash margin1 3,673 2,000 84% 3,304 1,704 94% Cost of sales 1,181 1,452 (19%) 1,238 1,425 (13%) Cash costs1 1,176 1,449 (19%) 1,233 1,422 (13%) All-in sustaining costs1 1,657 2,318 (29%) 1,824 2,107 (13%) Costs per ounce of gold sold (US$/oz) Cash margin1 2,666 1,467 82% 2,362 1,253 89% Cost of sales 857 1,065 (20%) 885 1,048 (16%) Cash costs1 853 1,062 (20%) 882 1,046 (16%) All-in sustaining costs1 1,203 1,700 (29%) 1,304 1,549 (16%) 1. For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Performance Measures” in the Company’s latest MD&A for the period ended September 30, 2025.
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Kiena – Q3 & YTD 2025 Operating Highlights 24 Kiena Operating Results Q3 2025 Q3 2024 % Change YTD 2025 YTD 2024 % Change Ore milled (tonnes) 50,147 51,321 (2%) 149,136 154,334 (3%) Head grade (g/t) 10.2 13.1 (22%) 10.6 11.1 (5%) Average mill recoveries (%) 98.7 99.0 (0%) 98.8 98.9 (0%) Gold production (oz) 16,169 21,421 (25%) 50,031 54,607 (8%) Gold sold (oz) 14,700 21,560 (32%) 51,200 52,400 (2%) Production costs per tonne milled1 ($) 506 426 19% 496 424 17% Costs per ounce of gold sold ($/oz) Cash margin1 3,289 2,410 36% 3,060 1,998 53% Cost of sales 1,580 985 60% 1,423 1,216 17% Cash costs1 1,576 981 61% 1,418 1,212 17% All-in sustaining costs1 2,615 1,526 71% 2,326 1,937 20% Costs per ounce of gold sold (US$/oz) Cash margin1 2,387 1,767 35% 2,187 1,469 49% Cost of sales 1,147 722 59% 1,017 894 14% Cash costs1 1,144 719 59% 1,014 891 14% All-in sustaining costs1 1,899 1,119 70% 1,663 1,424 17% 1. For further information and detailed reconciliations, refer to the section entitled “Non-IFRS Performance Measures” in the Company’s latest MD&A for the period ended September 30, 2025.
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Consolidated Financial Highlights In $000s, except per units and per share amounts YTD 2025 Q3 2025 Q2 2025 Q1 2025 FY2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FY 2023 Q4 2023 Financial results Revenue2 626,450 230,284 208,548 187,618 558,184 182,611 146,852 127,799 100,922 333,173 102,221 Cash margin1 445,404 168,443 149,367 127,594 342,135 124,637 94,635 76,239 46,624 132,939 47,576 Net income (loss) 232,092 86,923 82,696 62,473 135,471 56,629 38,999 29,135 10,708 (6,187) 2,420 Adjusted net income (loss)1 228,252 86,923 78,856 62,473 135,668 56,629 39,196 29,135 10,708 (1,910) 2,420 EBITDA1 407,312 149,554 138,399 119,359 308,006 114,868 84,600 67,863 40,675 99,333 38,256 Net cash from operating activities 299,289 118,213 100,920 80,156 240,972 76,411 60,976 57,083 46,502 101,351 37,176 Free cash flow1 179,392 78,964 52,924 47,505 118,597 39,874 30,838 28,437 19,448 (6,405) 7,799 Per share information Earnings (loss) 1.54 0.58 0.55 0.42 0.91 0.38 0.26 0.19 0.07 (0.04) 0.02 Adjusted net income (loss)1 1.52 0.58 0.52 0.42 0.91 0.38 0.26 0.19 0.07 (0.01) 0.02 Operating cash flow1 1.99 0.78 0.67 0.53 1.61 0.51 0.41 0.38 0.31 0.69 0.25 Free cash flow1 1.19 0.52 0.35 0.32 0.79 0.27 0.21 0.19 0.13 (0.04) 0.05 Select balance sheet data Cash and cash equivalents 265,893 265,893 187,564 167,934 123,097 123,097 82,515 50,697 48,252 41,371 41,371 Working capital 274,495 274,495 199,273 181,341 131,261 131,261 69,413 31,204 (1,033) (6,894) (6,894) Total assets 1,035,161 1,035,161 932,996 816,587 746,654 746,654 684,736 644,288 636,190 618,956 618,956 Total non-current liabilities 132,478 132,478 126,411 122,769 121,953 121,953 110,269 108,009 108,337 102,541 102,541 Per ounce of gold sold1 (C$) Average realized price1 4,515 4,853 4,539 4,136 3,333 3,746 3,420 3,192 2,823 2,629 2,715 Cost of sales 1,306 1,305 1,289 1,325 1,291 1,190 1,217 1,289 1,521 1,581 1,453 Cash costs1 1,301 1,300 1,285 1,320 1,288 1,187 1,214 1,286 1,517 1,579 1,451 AISC1 2,009 1,954 2,115 1,960 1,999 1,920 1,920 1,977 2,226 2,231 2,082 Per ounce of gold sold1 (US$) Average realized price1 3,228 3,523 3,279 2,882 2,433 2,678 2,508 2,333 2,093 1,948 1,994 Cost of sales 934 947 932 923 943 851 893 942 1,128 1,172 1,067 Cash costs1 930 944 929 920 940 848 890 940 1,125 1,170 1,065 AISC1 1,436 1,419 1,528 1,366 1,459 1,373 1,408 1,445 1,650 1,653 1,529 (1) Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of these non -IFRS measurements to the finan cial statements, which can be found in the Company’s Management Discussions and Analysis for the period ended September 30, 2 025 (2) Revenue include insignificant amounts from the sale of by-product silver 25
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Operational Highlights YTD 2025 Q3 2025 Q2 2025 Q1 2025 FY 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2024 FY 2023 Q4 2023 Ore milled (tonnes) Eagle River 180,208 71,575 48,623 60,010 222,526 60,358 57,984 52,552 51,632 228,777 54,669 Kiena 149,136 50,147 50,299 48,690 216,755 62,421 51,321 57,669 45,344 191,148 49,649 Throughput 329,344 121,722 98,922 108,700 439,281 122,779 109,305 110,221 96,976 419,925 104,318 Head grades (g/t Au) Eagle River 15.9 15.3 16.9 15.6 13.7 14.3 13.1 11.8 15.5 12.3 14.1 Kiena 10.6 10.2 10.7 10.8 11.2 11.5 13.1 13.5 5.9 5.9 7.7 Recovery (%) Eagle River 96.8 97.3 96.7 96.3 96.8 96.5 97.0 96.3 97.0 96.8 97.0 Kiena 98.8 98.7 98.8 98.9 98.9 99.1 99.0 99.0 98.2 98.3 98.5 Production (oz) Eagle River 88,907 34,296 25,612 28,999 94,561 26,702 23,688 19,272 24,899 87,979 24,072 Kiena 50,031 16,169 17,169 16,693 77,472 22,865 21,421 24,763 8,423 35,537 12,144 Total gold produced 138,938 50,465 42,781 45,692 172,033 49,567 45,109 44,035 33,322 123,336 36,216 Gold sales (oz) Eagle River 87,400 32,700 27,000 27,700 93,700 27,500 21,340 17,500 27,360 91,700 25,600 Kiena 51,200 14,700 18,900 17,600 73,600 21,200 21,560 22,500 8,340 34,920 12,020 Total gold sales 138,600 47,400 45,900 45,300 167,300 48,700 42,900 40,000 35,700 126,620 37,620 AISC1 (US$/oz) Eagle River 1,304 1,203 1,394 1,337 1,540 1,512 1,700 1,860 1,232 1,483 1,397 Kiena 1,663 1,899 1,720 1,412 1,357 1,191 1,119 1,123 3,023 2,100 1,811 Consolidated AISC 1,436 1,419 1,528 1,366 1,459 1,373 1,408 1,445 1,650 1,653 1,529 (1) Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of these non -IFRS measurements to the finan cial statements, which can be found in the Company’s Management Discussions and Analysis for the period ended September 30, 2 025 26
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@Wesdome Gold Mines Corporate Office 220 Bay St, Suite 1200 Toronto, ON M5J 2W4 Phone: +1 (416) 360-3743 Email: invest@wesdome.com Raj Gill, Senior Vice President, Corporate Development and Investor Relations Investor Relations Trish Moran, Vice President, Investor Relations