Eldorado Gold’s Skouries project in northern Greece has reached 90% overall completion for phase 1 and 78% for phase 2 as of December 31, 2025. Mechanical completion of all six tailings filters is finished and open-pit mining is running ahead of schedule, with more than 500,000 tonnes of ore stockpiled for plant start-up. Underground development has delivered the first of two test stopes, with approximately 20,000 tonnes of ore set aside on surface. First copper-gold concentrate is expected by the end of Q1 2026, with commercial production targeted in mid-2026. The project remains fully funded under a €680.4 million loan facility, and Eldorado has agreed concentrate off-take terms covering 80% of output over a two- to three-year period, reflecting stronger copper market fundamentals than assumed in the 2022 feasibility study.

At the Olympias mine, civil earthworks and infrastructure upgrades are advancing according to plan, and all mill expansion equipment for the 650,000 tpa circuit upgrade has been delivered on site. Construction completion is forecast for Q3 2026, with ramp-up in Q4 2026. New concentrate contracts for 2026 feature substantially improved payability and treatment terms versus those in 2025, promising a double-digit uplift in cash flow per tonne of concentrate. These enhanced terms capitalize on tight zinc and lead markets and underscore Eldorado’s strengthened strategic marketing capabilities.

Eldorado submitted the Environmental Impact Assessment for Perama Hill in December 2025 and has established a dedicated project team in Alexandroupolis to steer the development of this high-grade, low-cost deposit. Two parallel consultation processes—one led by the Greek State and one by Eldorado—will launch in the coming months, ensuring transparent engagement with local communities. G Mining Services Inc. has been retained to complete an updated feasibility study, with results expected in H2 2026. This work aims to de-risk project economics ahead of a final investment decision, targeting annual production of 80,000 ounces of gold over a projected 12-year mine life.