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Nature of operations<div style="padding-left:18pt;text-align:justify">B2Gold Corp. (“B2Gold” or the “Company”) is a Vancouver-based gold producer with four operating mines: the Fekola Mine in Mali, the Masbate Mine in the Philippines, the Otjikoto Mine in Namibia, and the Goose Mine in Canada. The Company determined that the Goose Mine achieved commercial production on October 2, 2025. The Company also owns the Gramalote Project in Colombia. The Company holds an approximately 33% interest in Versamet Royalties Corporation ("Versamet") and a portfolio of evaluation and exploration assets in a number of countries including Mali, Canada and Finland.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">B2Gold is a public company listed on the Toronto Stock Exchange under the symbol “BTO”, the NYSE American LLC exchange under the symbol “BTG” and the Namibian Stock Exchange under the symbol “B2G”. B2Gold’s head office is located at Suite 3400, Park Place, 666 Burrard Street, Vancouver, British Columbia, V6C 2X8.</div>

0.33

Basis of preparation<div style="padding-left:18pt;text-align:justify">These consolidated financial statements have been prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS”). These consolidated financial statements were authorized for issue by the Board of Directors on February 18, 2026.</div>

Recent accounting pronouncements<div style="padding-left:18pt;text-align:justify">Pronouncements issued but not yet effective</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Amendments to IFRS 9, Financial instruments, and IFRS 7, Financial instruments: Disclosures</div><div style="text-indent:18pt"> </div><div style="padding-left:18pt;text-align:justify">In May 2024, the IASB issued amendments to update the classification and measurement requirements in IFRS 9 and related disclosure requirements in IFRS 7 as follows:</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Clarified the recognition and derecognition date of certain financial assets and liabilities and amended the requirements related to settling financial liabilities using an electronic payment system. For a financial liability settled in cash using an electronic payment system, the amendments permit an entity to deem the financial liability to be discharged before the settlement date provided certain criteria are met.</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Clarified how to assess the contractual cash flow characteristics of financial assets in determining whether they meet the solely payments of principal and interest criteria.</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•New disclosures for certain instruments with contractual terms that can change cash flows (including instruments with features linked to environmental, social and corporate governance targets).</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Additional disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs.</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Amended disclosures relating to equity instruments designated at fair value through other comprehensive income.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">These amendments are effective for annual reporting periods beginning on or after January 1, 2026, with early application permitted for certain provisions. The Company may elect to apply the accounting policy choice permitted by the amendments to determine the settlement date for electronic payments based on the date preceding actual settlement. The Company has not yet adopted the amendments but does not expect the amendments to have a significant impact on the Consolidated Financial Statements.</div><div style="padding-left:18pt"> </div><div style="padding-left:18pt">IFRS 18, Presentation and disclosure in financial statements</div><div style="padding-left:18pt"> </div><div style="padding-left:18pt;text-align:justify">In April 2024, the IASB issued IFRS 18, Presentation and disclosure in financial statements ("IFRS 18"), which replaces IAS 1, Presentation of financial statements. IFRS 18 introduces an updated structure for the income statement by requiring income and expenses to be presented in three defined categories (operating, investing and financing), and by specifying certain defined totals and subtotals. Where company-specific measures related to income statement disclosure are provided ("management-defined performance measures"), such as certain non-GAAP measures, IFRS 18 requires additional disclosure around those management-defined performance measures in the notes to the financial statements. IFRS 18 provides additional guidance on principles of aggregation and disaggregation which apply to the primary financial statements and the notes to the financial statements. IFRS 18 does not affect the recognition and measurement of items in the financial statements, nor does it affect which items are classified as other comprehensive income and how these items are classified.</div><div style="padding-left:18pt;text-align:justify">The standard is effective for reporting periods beginning on or after January 1, 2027, including for interim financial statements. Retrospective application is required and early adoption is permitted. The Company has begun assessing the impact of IFRS 18 to its consolidated financial statements, particularly with respect to the structure of the Consolidated Statement of Operations, the Consolidated Statement of Cash Flows and additional disclosures required for management-defined performance measures in the notes to the financial statements. This project is expected to continue throughout 2026. The Company is also still assessing the impact of the new standard on the presentation and disaggregation of line items in the Consolidated Financial Statements.</div>

Summary of material accounting policies<div style="padding-left:18pt;text-align:justify">The material accounting policies used in the preparation of these financial statements are as follows:</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Principles of consolidation</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The financial statements of the Company consolidate the accounts of B2Gold and its subsidiaries. All intercompany transactions, balances, and unrealized gains and losses from intercompany transactions are eliminated on consolidation.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s most significant wholly-owned and partially owned subsidiaries are presented below:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:2.687%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:85.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.447%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">% interest</td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Fekola SA (“Fekola Mine”)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">80 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">B2Gold Namibia (Pty) Ltd. (“Otjikoto Mine”)</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">90 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Philippines Gold Processing & Refining Corporation (“Masbate Mine”)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Filminera Resources Corporation ("Masbate Mine")</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">B2Gold Back River Corp ("Goose Mine")</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Gramalote Limited ("Gramalote Project")</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Subsidiaries are entities controlled by the Company. Control exists when the Company has power over an investee, when the Company is exposed, or has rights, to variable returns from the investee and when the Company has the ability to affect those returns through its power over the investee. Subsidiaries are fully consolidated from the date on which control is obtained by B2Gold and are de-consolidated from the date that control ceases.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company holds its interest in the Masbate Gold Project (which operates the Masbate Mine) through two indirectly-owned subsidiaries. B2Gold has a 100% interest in Philippines Gold Processing & Refining Corporation (“PGPRC”) and a 40% interest in Filminera Resources Corporation (“FRC”). The remaining 60% interest in FRC is held by a Philippines-registered company that is owned by a Philippine shareholder. The Company consolidates the Masbate Gold Project as a result of its ownership interests and the contractual relationship between the entities. FRC owns the majority of the Masbate Gold Project tenements. PGPRC owns the process plant and is responsible for the sale of all gold. PGPRC and FRC have a contractual relationship, which includes PGPRC purchasing all of the ore production from FRC at a price equal to the cost for the ore plus a predetermined margin. For accounting purposes, this contractual relationship gives the Company control to consolidate FRC.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company's interest in Versamet is accounted for as investment in associates (Note 10). The Company does not control Versamet but does exert significant influence over their operations. The Company accounts for its interest in Versamet using the equity method.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Investments in joint arrangements and associates</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">A joint arrangement is a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. An associate is an investment over which the Company exercises significant influence, but not control or joint control, over the financial and operating policies and normally owns between 20% and 50% of the voting equity. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">A joint arrangement is classified as a joint operation or joint venture. The parties to a joint operation have the rights to the underlying assets and are exposed to the underlying liabilities of the joint arrangement. The Company accounts for investment in joint operations by recognizing its share of the operations underlying assets, liabilities, revenues and expenses. The parties to a joint venture have an interest in the underlying net assets of the joint arrangement. Investments in joint ventures are also accounted for using the equity method. </div><div style="padding-left:18pt;text-align:justify">Investments in associates are accounted for using the equity method. The equity method involves recording the initial investment at cost. Additional funding into an investee is recorded as an increase in the carrying value of the investment. The carrying amount is adjusted by the Company’s share of post-acquisition net income or loss, dilution gains or losses (resulting from changes in ownership interest), depreciation or amortization. The carrying value of equity-accounted investments is reviewed when indicators arise and if any impairment or impairment reversal has occurred, it is recognised in the period in which the impairment arose.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Business combinations</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">A business combination requires that the assets acquired and liabilities assumed constitute a business. A business is an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing goods or services to customers, generating investment income (such as dividends or interest) or generating other income from ordinary activities. A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Although businesses usually have outputs, outputs are not required for an integrated set to qualify as a business as the Company considers other factors to determine whether the set of activities or assets is a business.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has an option to apply a ‘concentration test’ to assess whether an acquired set of activities and assets are not a business. If substantially all of the fair value of the gross assets acquired is concentrated in a single, identifiable asset or group of similar identifiable assets, the concentration test is met, and the transaction is accounted for as an asset acquisition. In such cases, the acquirer identifies and recognizes the individual identifiable assets acquired and liabilities assumed. The cost of the net assets is allocated to the individual identifiable assets and liabilities on the basis of their relative fair values at the date of purchase. Such a transaction or event will not give rise to goodwill. Acquisition-related costs in an asset acquisition are recognized as part of the cost of the assets acquired.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Business combinations are accounted for using the acquisition method whereby acquired assets and liabilities are recorded at fair value as of the date of acquisition with the excess of the purchase consideration over such fair value being recorded as goodwill. Non-controlling interests in an acquisition may be measured at either fair value or at the non-controlling interest’s proportionate share of the fair value of the acquiree’s net identifiable assets.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The excess of (i) total consideration transferred by the Company, measured at fair value, including contingent consideration, and (ii) the non-controlling interests in the acquiree, over the acquisition-date fair value of the net of the assets acquired and liabilities assumed, is recorded as goodwill. If the fair value attributable to the Company’s share of the identifiable net assets exceeds the cost of acquisition, the difference is recognized as a gain in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Should the consideration be contingent on future events, the cost of the acquisition recorded includes management’s best estimate of the fair value of the contingent amounts expected to be payable. Provisional fair values allocated at the reporting date are finalized within one year of the acquisition date with retroactive restatement to the acquisition date as required.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Transaction costs, other than those associated with the issue of debt or equity securities, which the Company incurs in connection with a business combination, are expensed as incurred.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Foreign currency translation</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Functional and presentation currency</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Items included in the financial statements of each of the group's entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”). The consolidated financial statements are presented in United States dollars, which is the Company’s presentation currency. The Company’s mining operations operate within an economic environment where the functional currency is the United States dollar. References to "$" or "US$" are to United States dollars, while references to "Cdn. $" are to Canadian dollars.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Transactions and balances</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Transactions denominated in foreign currencies are translated into the United States dollar as follows:</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Monetary assets and liabilities are translated at the rates of exchange at the Consolidated Balance Sheet date;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Non-monetary assets and liabilities are translated at historical exchange rates prevailing at each transaction date;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Revenue and expenses are translated at the exchange rate at the date of the transaction, except depreciation, depletion and amortization, which are translated at historical exchange rates, and share-based compensation expense, which is translated at the rates of exchange applicable at the date of grant of the share-based compensation; and</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Exchange gains and losses on translation are included in earnings. When the gain or loss on certain non-monetary items, such as long-term investments classified as fair value through other comprehensive income (“OCI”) is recognized in OCI, the translation differences are also recognized in OCI.</div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Group companies</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For any subsidiaries or joint ventures whose functional currency differs from the United States dollar, balances and transactions are translated into the United States dollar as follows:</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Assets and liabilities are translated at the rates of exchange at the Consolidated Balance Sheet date;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Revenue and expenses are translated at average exchange rates throughout the reporting period or at rates that approximate the actual exchange rates; items such as depreciation are translated at the monthly average exchange rate; and</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Exchange gains and losses on translation are included in OCI.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The exchange gains and losses are recognized in earnings upon the substantial disposition, liquidation or closure of the entity that gave rise to such amounts.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Financial instruments</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company recognizes financial assets and liabilities on the Consolidated Balance Sheet when the Company becomes party to the contractual provisions of the instrument.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Cash and cash equivalents</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Cash and cash equivalents include cash on hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. For an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an insignificant risk of changes in value. Cash and cash equivalents are classified as financial assets and subsequently measured at amortized cost.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Receivables, accounts payable and accrued liabilities</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Receivables, accounts payable and accrued liabilities are non-interest bearing. Receivable are classified as financial assets and accounts payable and accrued liabilities are classified as financial liabilities. They are initially measured at fair value and subsequently recorded at amortized cost, which approximates fair value due to the short term to maturity. Receivable are net of expected credit losses.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Long-term investments</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Equity investments in entities that are not subsidiaries, joint ventures or investments in associates are classified as fair value through profit and loss ("FVTPL") unless they are irrevocably designated, on an individual basis, as fair value through other comprehensive income ("FVOCI"). These investments are measured at fair value on acquisition and at each reporting date. Any unrealized holding gains and losses related to long-term investments designated as FVOCI are excluded from net earnings and are included in OCI. Upon disposal, any accumulated gains and losses remain in equity.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Lease liabilities</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Lease liabilities are interest bearing and are initially measured at the present value of future payments and subsequently recorded at amortized cost.</div><div style="padding-left:18pt;text-align:justify">Debt</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company initially recognizes all financial liabilities at fair value and classifies them as subsequently measured at either FVTPL or amortized cost, as appropriate. For debt subsequently measured at amortized cost, the effective interest rate method is used. Debt classified as FVTPL is measured at fair value on each financial period-end date with gains and losses flowing through the Consolidated Statement of Operations. For debt that is optionally classified as FVTPL, the part of the fair value change related to the Company’s own credit risk is recorded in OCI rather than the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Components of compound financial instruments are separately classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. The financial liability is initially recognized at fair value, net of an allocation of issuance costs, and is subsequently measured at amortized cost. The equity component is initially measured based on the residual amount, net of an allocation of issuance costs, and is not subsequently remeasured. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Derivative instruments</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Derivative instruments, including embedded derivatives, are recorded at FVTPL and accordingly recorded at fair value on the Consolidated Balance Sheet with changes in the fair value being recognized as gains or losses in the Consolidated Statement of Operations. Fair values for derivative instruments are determined using valuation techniques, using assumptions based on market conditions existing at the balance sheet date.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment of financial assets held at amortized cost</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">At each reporting date, the Company measures the loss allowance for financial assets held at amortized cost at an amount equal to the lifetime expected credit losses if the credit risk on the financial assets has increased significantly since initial recognition. If at the reporting date, the credit risk on the financial assets has not increased significantly since initial recognition, the Company measures the loss allowances for the financial assets at an amount equal to twelve month expected credit losses.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Derecognition of financial assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Financial assets are derecognized when the investments mature or are sold, and substantially all the risks and rewards of ownership have been transferred. Gains and losses on derecognition of financial assets classified as FVTPL or amortized cost are recognized within other non-operating income. Accumulated gains or losses on financial assets classified as FVOCI remain within accumulated other comprehensive income.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Inventories</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Gold and silver bullion, in-process and stockpile inventories are recorded at the lower of average cost and net realizable value. The cost of finished goods and work-in-progress comprises raw materials, direct labour, and other direct costs, as well as stripping in the production stage and related production overheads (based on normal operating capacity) including applicable depreciation on property, plant and equipment. Net realizable value is the estimated selling price less applicable selling expenses and cost to complete.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Silver production is considered a by-product at all the Company's mines. As a result, silver inventory is measured at its fair market value with an offsetting credit to production cost.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">When inventories have been written down to net realizable value, a new assessment of net realizable value is made in each subsequent period. If the circumstances that caused the write down no longer exist, the amount of the write down on inventory not yet sold is reversed.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Materials and supplies inventories are valued at the lower of average cost and net realizable value. Cost includes acquisition, freight and other directly attributable costs.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mining interests</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mining interests include mineral properties, buildings, plant and equipment, construction-in-progress (including mine development costs), deferred stripping, underground development, exploration and evaluation assets, capitalized borrowing costs, and impairment.</div><div style="padding-left:18pt;text-align:justify">Mineral properties</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mineral properties (including mine development costs) are stated at cost less accumulated depreciation and impairment losses. When production commences, these costs are amortized using the units-of-production ("UOP") method, based on the estimated recoverable ounces.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Capitalization of mine development costs to construction-in-progress ceases when the mine is capable of operating in the manner intended by management. The Company applies judgement in its assessment of when a mine is capable of operating in the manner intended by management, which takes account of the design of the mine and the nature of the initial commissioning phase of the mine.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For ounces sold during the commissioning phase, the proceeds from the sale are recognized as revenue and the cost of the ounces produced as a production cost in the, in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Non-recoverable costs for projects determined not to be commercially feasible are expensed in the period in which the determination is made or when the carrying value of the project is determined to be impaired.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred stripping</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred stripping costs are included as a component of mineral property costs. Stripping costs incurred during the production phase of a mine are considered production costs and are included in the cost of inventory produced during the period in which stripping costs are incurred, unless the stripping activity can be shown to be a betterment of the mineral property. Betterment occurs when stripping activity increases future output of the mine by providing access to additional reserves. Stripping costs incurred to provide access to the ore body for extraction are capitalized as mineral property costs and are amortized on a UOP basis over the reserves and resources to which they relate.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Underground mine development costs</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Underground development costs are included as a component of mineral property costs. Underground development costs incurred to build new shafts, drifts and ramps to provide access to underground ore. Underground development costs are capitalized as incurred and are amortized on a UOP basis over the reserves and resources to which they relate or on a straight-line basis over the life of the underground mine.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Construction-in-progress</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Qualifying assets in the course of construction are capitalized as construction-in-process until the asset is substantially complete and ready for its intended use, at which time, it is transferred to the appropriate category of mineral property or buildings, plant and equipment and depreciation commences.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Buildings, plant and equipment</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Buildings, plant and equipment are recorded at cost. Repairs and maintenance expenditures are charged to operating costs; major improvements and replacements which extend the useful life of an asset are capitalized to the cost of the asset. Buildings, plant and equipment are amortized over the life of the mine using the UOP method based on the recoverable ounces from the estimated proven and probable reserves and a portion of the measured and indicated resources that are reasonably expected to be converted to proven and probable reserves. Mobile equipment, tailings dams and other equipment are depreciated on a straight-line basis over two to nine years as appropriate, net of residual value. The Company allocates the amount initially recognized in respect of an item of buildings, plant and equipment to its significant components and depreciates separately each component part. Residual values, method of amortization and useful lives of the assets are reviewed annually and adjusted if appropriate.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Exploration and evaluation assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company defers the cost of acquiring, maintaining its interest in, exploring and evaluating a mineral property as exploration and evaluation until a decision to construct, abandon or sell the property is made. Once the technical feasibility and commercial viability of the extraction of mineral reserves or resources from a particular mineral property has been determined, exploration and evaluation expenditures are reclassified to “mineral property costs”. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value. Exploration costs that do not relate to any specific property are expensed as incurred.</div><div style="padding-left:18pt;text-align:justify">The establishment of technical feasibility and commercial viability of a mineral property is assessed based on a combination of factors, such as but not limited to:</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The extent to which mineral reserves or mineral resources have been identified through a feasibility study or similar level document;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The results of optimization studies and further technical evaluation carried out to mitigate project risks identified in the feasibility study;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The status of environmental permits; and</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The status of mining leases or permits.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">In addition, commercial viability is deemed to be achieved when the Company determines that the project will provide a satisfactory return relative to its perceived risks. Ore reserves and resources may be declared for an undeveloped mining project before its commercial viability has been fully determined. Evaluation costs may continue to be capitalized during the period between declaration of reserves and approval to mine as further work is undertaken in order to refine the development case to maximize the project’s returns.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Borrowing costs</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Borrowing costs attributable to the construction of qualifying assets, which take a substantial period of time to make ready for their intended use, are added to the cost of the assets until such time as the assets are substantially complete and ready for their intended use. The amount of borrowing costs capitalized cannot exceed the actual amount of borrowing costs incurred in a period. All other borrowing costs are expensed in the period in which they are incurred.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment and reversals of impairment</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The carrying amounts of long-lived assets are tested for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. If there are indicators of impairment, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount and is recorded as an expense in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The recoverable amount is the higher of an asset’s “fair value less costs of disposal” ("FVLCD") and “value-in-use”. Where the asset does not generate cash flows that are independent from other assets, the recoverable amount of the cash-generating unit ("CGU") to which the asset belongs is determined. FVLCD is determined as the amount that would be obtained from the sale of the asset less costs of disposal in an arm’s length transaction between knowledgeable and willing parties. For mining assets this would generally be determined based on the present value of the estimated future cash flows arising from the continued development, use or eventual disposal of the asset. In assessing these cash flows and discounting them to the present value, assumptions used are those that an independent market participant would consider appropriate. In assessing “value-in-use”, the estimated future cash flows expected to arise from the continuing use of the assets in their present form and from their disposal are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment losses are evaluated for potential reversals when events or circumstances warrant such consideration. Where an impairment loss is subsequently reversed, the amount of such reversal is limited such that the revised carrying amount of the asset or CGU does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or CGU in the prior years. A reversal of an impairment loss is recognized into earnings immediately.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Leases</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">At the inception of a contract, to determine if it contains a lease, the Company assesses whether it conveys the right to control and obtain substantially all of the economic benefits of an identified asset, for a period of time, in exchange for consideration. Where a contract contains a lease, the Company recognizes a right-of-use asset and a lease liability at the commencement date of the lease.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The right-of-use asset is measured at cost less any accumulated depreciation and impairment losses and may be adjusted for any remeasurement of the lease liability. Cost is the amount of the initial lease liability plus any initial direct costs incurred and any lease payments made at or before the commencement date less any incentives received.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The right-of-use assets are included in the cost of property, plant and equipment for the associated mining interest on the Consolidated Balance Sheet. They are depreciated, in accordance with the Company's existing accounting policy, over the shorter of the lease term or the life of the asset. </div><div style="padding-left:18pt;text-align:justify">The lease liability is initially measured at the present value of future lease payments discounted at the interest rate implicit in the contract. If the implicit rate cannot be determined, the incremental borrowing rate over a similar term and with similar security for the funds necessary to obtain an asset of similar value in a similar economic environment is used. The lease payments include fixed payments less any incentives receivable, variable lease payments that depend on an index or rate and amounts expected to be paid under residual value guarantees. Where the lease contains an extension or purchase option, the costs associated with the option are included if it is reasonably expected to be exercised by the Company.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Thereafter, the amount of the lease liability is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of the lease liability is remeasured to reflect any modifications to the contract terms. Lease liabilities are presented as a component of debt on the Consolidated Balance Sheet.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has elected not to recognize right-of-use assets and lease liabilities for contracts that have a lease term of 12 months or less or are for the use of low value assets. These contracts are recognized as an expense in the Consolidated Statement of Operations in the period the cost is incurred. In addition, for certain asset classes, the Company has elected to treat both lease and non-lease components as a single lease component for the purposes of applying IFRS 16, Leases.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mine restoration provisions</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Future obligations to retire an asset including dismantling, removal from site where required, remediation, on-going treatment, monitoring and other site closure activities are initially recognized and recorded as a liability based on estimated future cash flows discounted at a risk free rate. The measurement determination is based on estimated future cash flows, the current risk-free discount rate, and an estimated inflation factor. The value of restoration provisions is adjusted at each reporting period for changes to factors including the expected amount of cash flows required to discharge the liability, the timing of such cash flows and the risk-free interest rate. The liability is added to the carrying amount of the associated asset, and this additional carrying amount is depreciated over the life of the asset. The liability is accreted to full value over time through periodic charges to earnings. This unwinding of the discount is expensed in the Consolidated Statement of Operations. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Share capital</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Equity instruments issued by the Company are recorded at the amount of proceeds received, net of any directly attributable transaction costs. When the Company repurchases its own equity instruments, the consideration paid is recognized directly as a deduction from equity. Transactions involving the Company’s own equity instruments, whether purchases, sales, or cancellations, do not result in gains or losses being recognized in profit or loss. Similarly, no gain or loss is recognized on the issuance of the Company’s own equity instruments, except when equity instruments are issued to settle an existing liability.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Share-based payments</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The cost of stock options and other equity-settled share-based payment arrangements, including restricted share units and performance share units, is recorded based on the estimated fair-value at the grant date and charged to earnings over the vesting period.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company grants stock options to certain employees and directors. Each tranche is considered a separate award with its own vesting period and grant date fair value. The fair value of each tranche is measured at the date of grant using the Black-Scholes option pricing model. Compensation expense is recognized over the tranche’s vesting period by a charge to earnings, with a corresponding increase to contributed surplus based on the number of awards expected to vest. The number of awards expected to vest is reviewed at least annually, with any impact being recognized immediately.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company grants performance share units to certain officers and employees. Each tranche is considered a separate award with its own vesting period and grant date fair value. The portion of performance share units related to market conditions are recorded at fair value at the date of grant using a risk neutral Monte Carlo simulation based on a correlated Geometric Brownian Motion and the portion related to non-market vesting conditions are recorded at the market value of the shares at the date of grant. Compensation expense is recognized over the tranche’s vesting period by a charge to earnings, with a corresponding increase to contributed surplus based on the number of awards expected to vest for non-market vesting conditions. Non-market vesting conditions are reviewed at least annually, with any impact being recognized immediately.</div><div style="padding-left:18pt;text-align:justify">The Company grants restricted share units to directors, certain officers and employees. Each tranche is considered a separate award with its own vesting period and grant date fair value. The fair value of each tranche is measured at issuance date based on the fair value using the market value of the underlying shares on the date of issuance. Compensation expense is recognized over the tranche’s vesting period by a charge to earnings, with a corresponding increase to contributed surplus.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Cash settled share-based payment arrangements, including deferred share units and restricted phantom units are measured at fair value using the market value of the underlying shares on the date of issuance. The liability is then remeasured at market value on each reporting date until settlement with any gains or losses flowing through share-based payments expense.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Current and deferred income taxes</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Income tax comprises current and deferred tax. Income tax is recognized in the Consolidated Statement of Operations except to the extent that it relates to items recognized directly in equity, in which case the income tax is also recognized directly in equity. Taxes on income in interim periods are recorded using the tax rate that would be applicable to expected annual profit.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Current tax is the expected tax payable on taxable income for the year, using tax rates enacted or substantively enacted, at the end of the reporting period.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Payments to governments arising due to specific legislation or separate negotiation with the local authorities in the countries the Company operates are assessed to determine whether they are in the scope of IAS 12, Income taxes. Those that are based on measures of profit earned are assessed to be in scope of IAS 12, while those calculated on sales or production are recorded as an operating expense.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the Fekola Mine, income taxes in Mali are assessed on a mine-specific basis determined by the respective Mining Code and Convention. As the profit measure used to calculate State of Mali’s preferred share interest is determined to be revenue less costs as defined by the relevant legislation, which is the 2012 Mining Code, the 2023 Mining code and the Fekola Mining Convention, this arrangement is determined to be a tax on income and not an operating cost or profit sharing interest and, therefore, in the scope of IAS 12.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company uses judgment in determining whether payments arising due to specific legislation or separate negotiation with the relevant authorities are in scope of IAS 12. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred tax is recognized in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax is determined on a non-discounted basis using tax rates and laws that have been enacted or substantively enacted at the balance sheet date and are expected to apply when the deferred tax asset or liability is reversed. Deferred tax assets are recognized to the extent that it is probable that the assets can be recovered.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred income tax is provided on temporary differences arising on investments in subsidiaries and associates, except, in the case of subsidiaries, where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future. As an exception, deferred tax assets and liabilities are not recognized if the temporary differences arise from the initial recognition of goodwill, or an asset or liability in a transaction (other than in a business combination) that affects neither accounting profit nor taxable profit.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred income tax assets and liabilities are presented as non-current.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Revenue</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Gold revenue is recognized when it is probable that the economic benefits will flow to the Company, delivery has occurred, the sales price is reasonably determinable and collectability is reasonably assured. These criteria are generally met at the time the product is delivered to the customer and, depending on the delivery conditions, title and the risks and rewards of ownership have passed to the customer and acceptance of the product, when contractually required, has been obtained. Gold revenue is measured based on the price specified in the sales contract at the time of the sale.</div><div style="padding-left:18pt;text-align:justify">Prepaid gold sales are recognized as deferred revenue on the Consolidated Balance Sheet and recognized as revenue in the Consolidated Statement of Operations when control transfers to the customer upon delivery of gold. The contract price is considered to contain a significant financing component given the long-term nature of the upfront payment and the period of time between the receipt of the upfront cash and the transfer of control of the product. This will result in recognition of an interest charge on the upfront amount that increases the future revenue to be recognized.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Earnings per share</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Basic earnings per share is calculated by dividing the net income for the year attributable to shareholders of the Company by the weighted average number of common shares outstanding during the year.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Diluted earnings per share reflects the potential dilution from common share equivalents on the weighted average number of common shares outstanding during the year if the resulting shares would be dilutive. For stock options, the potential dilutive impact is calculated using the treasury share method whereby all “in-the-money” options are assumed to have been exercised at the beginning of the year and the proceeds from the exercise are assumed to have been used to purchase common shares at the average market price during the period.</div>

<div style="padding-left:18pt;text-align:justify">The Company’s most significant wholly-owned and partially owned subsidiaries are presented below:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:2.687%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:85.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.447%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">% interest</td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Fekola SA (“Fekola Mine”)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">80 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">B2Gold Namibia (Pty) Ltd. (“Otjikoto Mine”)</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">90 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Philippines Gold Processing & Refining Corporation (“Masbate Mine”)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Filminera Resources Corporation ("Masbate Mine")</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">B2Gold Back River Corp ("Goose Mine")</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">-</td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Gramalote Limited ("Gramalote Project")</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

0.80

0.90

0.40

0.60

<div style="padding-left:18pt;text-align:justify">Mining interests</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mining interests include mineral properties, buildings, plant and equipment, construction-in-progress (including mine development costs), deferred stripping, underground development, exploration and evaluation assets, capitalized borrowing costs, and impairment.</div><div style="padding-left:18pt;text-align:justify">Mineral properties</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mineral properties (including mine development costs) are stated at cost less accumulated depreciation and impairment losses. When production commences, these costs are amortized using the units-of-production ("UOP") method, based on the estimated recoverable ounces.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Capitalization of mine development costs to construction-in-progress ceases when the mine is capable of operating in the manner intended by management. The Company applies judgement in its assessment of when a mine is capable of operating in the manner intended by management, which takes account of the design of the mine and the nature of the initial commissioning phase of the mine.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For ounces sold during the commissioning phase, the proceeds from the sale are recognized as revenue and the cost of the ounces produced as a production cost in the, in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Non-recoverable costs for projects determined not to be commercially feasible are expensed in the period in which the determination is made or when the carrying value of the project is determined to be impaired.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred stripping</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred stripping costs are included as a component of mineral property costs. Stripping costs incurred during the production phase of a mine are considered production costs and are included in the cost of inventory produced during the period in which stripping costs are incurred, unless the stripping activity can be shown to be a betterment of the mineral property. Betterment occurs when stripping activity increases future output of the mine by providing access to additional reserves. Stripping costs incurred to provide access to the ore body for extraction are capitalized as mineral property costs and are amortized on a UOP basis over the reserves and resources to which they relate.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Underground mine development costs</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Underground development costs are included as a component of mineral property costs. Underground development costs incurred to build new shafts, drifts and ramps to provide access to underground ore. Underground development costs are capitalized as incurred and are amortized on a UOP basis over the reserves and resources to which they relate or on a straight-line basis over the life of the underground mine.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Construction-in-progress</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Qualifying assets in the course of construction are capitalized as construction-in-process until the asset is substantially complete and ready for its intended use, at which time, it is transferred to the appropriate category of mineral property or buildings, plant and equipment and depreciation commences.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Buildings, plant and equipment</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Buildings, plant and equipment are recorded at cost. Repairs and maintenance expenditures are charged to operating costs; major improvements and replacements which extend the useful life of an asset are capitalized to the cost of the asset. Buildings, plant and equipment are amortized over the life of the mine using the UOP method based on the recoverable ounces from the estimated proven and probable reserves and a portion of the measured and indicated resources that are reasonably expected to be converted to proven and probable reserves. Mobile equipment, tailings dams and other equipment are depreciated on a straight-line basis over two to nine years as appropriate, net of residual value. The Company allocates the amount initially recognized in respect of an item of buildings, plant and equipment to its significant components and depreciates separately each component part. Residual values, method of amortization and useful lives of the assets are reviewed annually and adjusted if appropriate.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Exploration and evaluation assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company defers the cost of acquiring, maintaining its interest in, exploring and evaluating a mineral property as exploration and evaluation until a decision to construct, abandon or sell the property is made. Once the technical feasibility and commercial viability of the extraction of mineral reserves or resources from a particular mineral property has been determined, exploration and evaluation expenditures are reclassified to “mineral property costs”. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value. Exploration costs that do not relate to any specific property are expensed as incurred.</div><div style="padding-left:18pt;text-align:justify">The establishment of technical feasibility and commercial viability of a mineral property is assessed based on a combination of factors, such as but not limited to:</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The extent to which mineral reserves or mineral resources have been identified through a feasibility study or similar level document;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The results of optimization studies and further technical evaluation carried out to mitigate project risks identified in the feasibility study;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The status of environmental permits; and</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•The status of mining leases or permits.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">In addition, commercial viability is deemed to be achieved when the Company determines that the project will provide a satisfactory return relative to its perceived risks. Ore reserves and resources may be declared for an undeveloped mining project before its commercial viability has been fully determined. Evaluation costs may continue to be capitalized during the period between declaration of reserves and approval to mine as further work is undertaken in order to refine the development case to maximize the project’s returns.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Borrowing costs</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Borrowing costs attributable to the construction of qualifying assets, which take a substantial period of time to make ready for their intended use, are added to the cost of the assets until such time as the assets are substantially complete and ready for their intended use. The amount of borrowing costs capitalized cannot exceed the actual amount of borrowing costs incurred in a period. All other borrowing costs are expensed in the period in which they are incurred.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment and reversals of impairment</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The carrying amounts of long-lived assets are tested for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. If there are indicators of impairment, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount and is recorded as an expense in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The recoverable amount is the higher of an asset’s “fair value less costs of disposal” ("FVLCD") and “value-in-use”. Where the asset does not generate cash flows that are independent from other assets, the recoverable amount of the cash-generating unit ("CGU") to which the asset belongs is determined. FVLCD is determined as the amount that would be obtained from the sale of the asset less costs of disposal in an arm’s length transaction between knowledgeable and willing parties. For mining assets this would generally be determined based on the present value of the estimated future cash flows arising from the continued development, use or eventual disposal of the asset. In assessing these cash flows and discounting them to the present value, assumptions used are those that an independent market participant would consider appropriate. In assessing “value-in-use”, the estimated future cash flows expected to arise from the continuing use of the assets in their present form and from their disposal are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment losses are evaluated for potential reversals when events or circumstances warrant such consideration. Where an impairment loss is subsequently reversed, the amount of such reversal is limited such that the revised carrying amount of the asset or CGU does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or CGU in the prior years. A reversal of an impairment loss is recognized into earnings immediately.</div>

P9Y

Significant accounting judgements and estimates<div style="padding-left:18pt;text-align:justify">The preparation of these financial statements in conformity with IFRS requires judgements and estimates that affect the amounts reported. Those judgements and estimates concerning the future may differ from actual results. The following are the areas of accounting policy judgement and accounting estimates applied by management that most significantly affect the Company’s financial statements, including those areas of estimation uncertainty that could result in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Areas of judgement</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Assessment of impairment and reversal of impairment indicators for long-lived assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company applies significant judgement in assessing whether there are indicators of impairment, or the reversal of previously recorded impairment, present that give rise to the requirement to conduct an impairment test. Internal and external factors such as significant changes in the use of an asset, legal and permitting factors, future gold prices, operating and capital cost forecasts, quantities of mineral reserves and resources, and movements in market interest rates are used by the Company in determining whether there are any indicators of impairment or reversal of impairment.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company identified indicators of impairment on the Fekola Complex CGU, consisting of the Fekola Mine and Fekola Regional Properties, and the Goose Mine CGU. As a result, these assets were tested for impairment (Note 9). </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company performed an assessment of impairment indicators, as well as indicators for reversal of previously recorded impairment losses. Where a CGUs had been previously impaired, the Company considered whether the impairment losses no longer exist or might have decreased. This assessment considered general and specific factors and concluded that, although the current spot price of gold has increased from the time that impairment losses had been recognized, taking into consideration specific circumstances of each asset, there is no indicator that the impairment reversed. For the Fekola Complex CGU, the delay in steps necessary to produce gold from the Fekola Regional permits, including receipt of the mining permit, creates uncertainty as to the extent to which the Company may realize the full benefit of any increases in the long-term gold price. For the Goose Mine, the Company determined that the mine had achieved commercial production on October 2, 2025. However, an engineering study, and associated procurement and logistics plan, is required to implement modifications to the crushing circuit before the Goose Mine can continue to ramp-up and ultimately operate at its name-plate capacity, as intended. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Uncertain tax positions</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s operations involve the application of complex tax regulations in multiple international jurisdictions. Determining the tax treatment of a transaction requires the Company to apply judgement in its interpretation of the applicable tax law. These positions are not final until accepted by the relevant tax authority. The tax treatment may change based on the result of assessments or audits by the tax authorities often years after the initial filing. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company recognizes and records potential liabilities for uncertain tax positions based on its assessment of the amount, or range of amounts, of tax that will be due. The Company adjusts these accruals as new information becomes available. </div><div style="padding-left:18pt;text-align:justify">Due to the complexity and uncertainty associated with certain tax treatments, the ultimate resolution could result in a payment that is materially different from the Company’s current estimate of the tax liabilities.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Capitalization of exploration and evaluation expenditures</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The application of the Company’s accounting policy for capitalization of exploration and evaluation expenditures requires judgement in determining whether the future economic benefit is likely, either through future exploitation or sale, where properties have not reached a stage which permits a reasonable assessment of the existence of reserves. The deferral policy requires management to make certain judgements about future events or circumstances, in particular whether an economically viable mine can be established. Judgement is applied in the determination of whether any impairment indicators exist at each reporting date giving consideration to factors including mining title expiration dates, budgeted expenditures, discontinuation of activities in any area, and evaluation of any data which would indicate that the carrying amount of exploration and evaluation assets is not recoverable. If new information becomes available suggesting that the recovery of the carrying amount of exploration and evaluation assets is unlikely, the amount capitalized is written off in the Consolidated Statement of Operations in the period when the new information becomes available.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Determination of control or significant influence over investees</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The assessment of whether the Company has a significant influence or control over an investee requires the application of judgement when assessing factors that could give rise to a significant influence or control. Factors evaluated when making a judgement of control or significant influence over an investee include, but are not limited to, ownership percentage, representation on the board of directors, participation in the policy-making process, material transactions and contractual arrangements between the Company and the investee, interchange of managerial personnel, provision of essential technical information and potential voting rights. In evaluating these factors, the Company determines the level of influence over the investee the Company has. Changes in the Company's assessment of the factors used in determining if control or significant influence exists over an investee would impact the accounting treatment of the investment in the investee.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Sources of estimation uncertainty</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Fair value of financial instruments</div><div> </div><div style="padding-left:18pt">The fair value of financial instruments that are not traded in an active market are determined using valuation techniques. In determining the fair value of the gold stream obligation (Note 18), the Company makes significant assumptions that are based on the underlying models and the market conditions existing at both initial recognition and the end of each reporting period.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mineral reserve and resource estimates</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Mineral reserves are estimates of the amount of ore that can be economically and legally extracted from the Company’s mining properties. The Company estimates its mineral reserves and mineral resources based on information compiled by appropriately qualified persons relating to the geological data on the size, depth and shape of the ore body, and requires complex geological assessments to interpret the data. The estimation of recoverable mineral reserves and mineral resources is based upon factors such as estimates of foreign exchange rates, commodity prices, future capital requirements, metallurgical recoveries, permitting and production costs along with geological assumptions made in estimating the size, and grade of the ore body. Changes in the mineral reserve or mineral resource estimates may impact the carrying value of mining interests, mine restoration provisions, the gold stream obligation, recognition of deferred tax assets, depreciation and amortization charges and royalty obligations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment of long-lived assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Long-lived assets are tested for impairment, or reversal of a previous impairment, if there is an indicator of impairment or a subsequent reversal (Note 9). Calculating the estimated recoverable amount of CGUs for long-lived asset requires management to make estimates and assumptions that include such factors as mineable mineralization including reserves and resources, future production levels, operating and capital costs, application of royalty, income tax and mining tax rates, future metal prices and discount rates. Changes in any of these assumptions or estimates used in determining the recoverable amount could impact the analysis. Such changes could be material.</div><div style="padding-left:18pt;text-align:justify">Value-added tax receivables</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company incurs indirect taxes, including value-added tax, on purchases of goods and services at its operating mines and development projects. Indirect tax balances are recorded at their estimated recoverable amounts within current or long-term assets, net of provisions, and reflect the Company’s best estimate of their recoverability under existing tax rules in the respective jurisdictions in which they arise. Management’s assessment of recoverability considers the probable outcomes of claimed deductions and/or disputes. The provisions and balance sheet classifications made to date may be subject to change and such change may be material.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Long-term value-added tax receivables includes amounts for the Fekola Mine of $244 million (2024 - $214 million), for the Masbate Mine of $11 million (2024 – $13 million), and for the Gramalote Project of $22 million (2024 - $17 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Current and deferred income taxes</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company is periodically required to estimate the tax basis of assets and liabilities. Where applicable tax laws and regulations are either unclear or subject to varying interpretations, it is possible that changes in these estimates could occur that materially affect the amounts of deferred income tax assets and liabilities recorded in the financial statements. Changes in deferred tax assets and liabilities generally have a direct impact on earnings in the period that the changes occur.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Each period, the Company evaluates the likelihood of whether some portion or all of each deferred tax asset will not be realized. This evaluation is based on historic and future expected levels of taxable income and the associated repatriation of retained earnings, the pattern and timing of reversals of taxable temporary timing differences that give rise to deferred tax liabilities, and tax planning initiatives. Levels of future taxable income are affected by, among other things, metal prices, production costs, quantities of proven and probable gold reserves, interest rates and foreign currency exchange rates. The availability of retained earnings for distribution depends on future levels of taxable income as well as future reclamation expenditures, capital expenditures, dividends and other uses of available cash flow.</div>

<div style="padding-left:18pt;text-align:justify">Assessment of impairment and reversal of impairment indicators for long-lived assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company applies significant judgement in assessing whether there are indicators of impairment, or the reversal of previously recorded impairment, present that give rise to the requirement to conduct an impairment test. Internal and external factors such as significant changes in the use of an asset, legal and permitting factors, future gold prices, operating and capital cost forecasts, quantities of mineral reserves and resources, and movements in market interest rates are used by the Company in determining whether there are any indicators of impairment or reversal of impairment.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company identified indicators of impairment on the Fekola Complex CGU, consisting of the Fekola Mine and Fekola Regional Properties, and the Goose Mine CGU. As a result, these assets were tested for impairment (Note 9). </div>During the year ended December 31, 2025, the Company performed an assessment of impairment indicators, as well as indicators for reversal of previously recorded impairment losses. Where a CGUs had been previously impaired, the Company considered whether the impairment losses no longer exist or might have decreased. This assessment considered general and specific factors and concluded that, although the current spot price of gold has increased from the time that impairment losses had been recognized, taking into consideration specific circumstances of each asset, there is no indicator that the impairment reversed. For the Fekola Complex CGU, the delay in steps necessary to produce gold from the Fekola Regional permits, including receipt of the mining permit, creates uncertainty as to the extent to which the Company may realize the full benefit of any increases in the long-term gold price. For the Goose Mine, the Company determined that the mine had achieved commercial production on October 2, 2025. However, an engineering study, and associated procurement and logistics plan, is required to implement modifications to the crushing circuit before the Goose Mine can continue to ramp-up and ultimately operate at its name-plate capacity, as intended. <div style="padding-left:18pt;text-align:justify">Impairment of long-lived assets</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Long-lived assets are tested for impairment, or reversal of a previous impairment, if there is an indicator of impairment or a subsequent reversal (Note 9). Calculating the estimated recoverable amount of CGUs for long-lived asset requires management to make estimates and assumptions that include such factors as mineable mineralization including reserves and resources, future production levels, operating and capital costs, application of royalty, income tax and mining tax rates, future metal prices and discount rates. Changes in any of these assumptions or estimates used in determining the recoverable amount could impact the analysis. Such changes could be material.</div>

<div style="padding-left:18pt;text-align:justify">Capitalization of exploration and evaluation expenditures</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The application of the Company’s accounting policy for capitalization of exploration and evaluation expenditures requires judgement in determining whether the future economic benefit is likely, either through future exploitation or sale, where properties have not reached a stage which permits a reasonable assessment of the existence of reserves. The deferral policy requires management to make certain judgements about future events or circumstances, in particular whether an economically viable mine can be established. Judgement is applied in the determination of whether any impairment indicators exist at each reporting date giving consideration to factors including mining title expiration dates, budgeted expenditures, discontinuation of activities in any area, and evaluation of any data which would indicate that the carrying amount of exploration and evaluation assets is not recoverable. If new information becomes available suggesting that the recovery of the carrying amount of exploration and evaluation assets is unlikely, the amount capitalized is written off in the Consolidated Statement of Operations in the period when the new information becomes available.</div>

244000000

214000000

11000000

13000000

22000000

17000000

Receivables, prepaids and other<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid expenses</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,251 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,157 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid royalties</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,482 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Supplier advances</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,097 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,757 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Short-term investments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,868 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,565 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Current portion of derivative instruments (Note 17)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,217 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other receivables</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">16,595 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,363 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">58,293 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">41,059 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid expenses</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,251 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,157 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid royalties</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,482 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Supplier advances</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,097 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,757 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Short-term investments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,868 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,565 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Current portion of derivative instruments (Note 17)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,217 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other receivables</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">16,595 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,363 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">58,293 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">41,059 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

13251000

9157000

13482000 0

10097000

9757000

4868000 11565000

2217000

16595000

8363000

58293000 41059000

Inventories<div style="padding-left:18pt;text-align:justify">The current inventory balance is made up as follows:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Gold and silver bullion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">67,438 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">34,181 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">In-process inventory</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">45,820 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">45,607 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Ore stock-pile inventory</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">79,119 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">62,076 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Materials and supplies</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">434,848 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">335,722 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">627,225 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">477,586 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">The long-term inventory balance is made up as follows:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Ore stock-pile inventory</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">77,292 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">67,891 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Materials and supplies</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">100,303 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">66,638 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">177,595 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">134,529 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Current ore stock-pile inventory includes amounts for the Fekola Mine of $20 million (2024 - $14 million), for the Otjikoto Mine of $4 million (2024 – $10 million), for the Masbate Mine of $13 million (2024 - $15 million) and for the Goose Mine of $42 million (2024 - $23 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Long-term ore stock-pile inventory includes amounts for the Otjikoto Mine of $58 million (2024 – $50 million), for the Fekola Mine of $9 million (2024 - $9 million), and for the Masbate Mine of $10 million (2024 - $9 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Long-term supplies inventory are supplies for operations at the Goose Mine that are expected to be consumed beyond the next twelve months.</div>

67438000

34181000

45820000

45607000

79119000

62076000

434848000

335722000

627225000

477586000

77292000

67891000

100303000 66638000

177595000

134529000

20000000

14000000

4000000

10000000

13000000

15000000

42000000

23000000

58000000

50000000

9000000

10000000

9000000

Long-term investments<div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:24.730%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.989%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Cost</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">AOCI</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Fair value</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Cost</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">AOCI</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Fair value</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Snowline Gold Corp.</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">47,303 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">167,569 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">214,872 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">39,011 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">16,566 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">55,577 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Prospector Metals Corp.</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,672 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">12,944 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,616 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">664 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(277)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">387 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">St. Augustine Gold & Copper Ltd.</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,193 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,166 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">22,359 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,193 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,408)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,785 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Founders Metals Inc.</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,256 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,388 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">19,644 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,705 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,500 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">14,205 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">AuMEGA Metals Ltd.</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,839 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,810)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,029 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,839 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,813)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,026 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,298 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(13,752)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">546 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,299 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(13,562)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">737 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">112,561 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">173,505 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">286,066 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">86,711 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(9,994)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">76,717 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company purchased an additional 1.3 million (2024 - 1.6 million) shares of Snowline Gold Corp. ("Snowline") at an average cost of Cdn. $8.79 (2024 - Cdn. $5.47) for a total cost of $8 million (2024 - $6 million) to maintain a 9.9% interest in Snowline in accordance with the Company's rights under its shareholder agreement.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company purchased an additional 24 million shares of Prospector Metals Corp. ("Prospector") at an average cost of Cdn. $0.76 per share for a total cost of $13 million. </div><div style="padding-left:18pt"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company purchased 1.7 million (2024 - 4.4 million) shares in Founders Metals Inc. ("Founders") at an average cost of Cdn. $3.84 (2024 - Cdn. $2.75) per share for a total cost of $5 million (2024 - $9 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company sold its 22 million share investment in West African Resources Ltd. for proceeds of $19 million and its 12 million share investment in Osino Resources Corp. for proceeds of $16 million.</div>

<div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:24.730%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.989%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Cost</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">AOCI</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Fair value</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Cost</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">AOCI</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Fair value</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Snowline Gold Corp.</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">47,303 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">167,569 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">214,872 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">39,011 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">16,566 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">55,577 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Prospector Metals Corp.</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,672 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">12,944 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,616 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">664 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(277)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">387 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">St. Augustine Gold & Copper Ltd.</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,193 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,166 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">22,359 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,193 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,408)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,785 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Founders Metals Inc.</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,256 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,388 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">19,644 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,705 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,500 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">14,205 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">AuMEGA Metals Ltd.</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,839 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,810)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,029 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,839 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,813)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,026 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,298 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(13,752)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">546 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,299 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(13,562)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">737 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">112,561 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">173,505 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">286,066 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">86,711 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(9,994)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">76,717 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

47303000

167569000

214872000

39011000

16566000

55577000

13672000

12944000

26616000

664000

-277000

387000

20193000

2166000

22359000

20193000

-16408000

3785000

13256000

6388000

19644000

8705000

5500000

14205000

3839000

-1810000

2029000

3839000

-1813000

2026000

14298000

-13752000

546000

14299000

-13562000

737000

112561000

173505000

286066000

86711000

-9994000

76717000

1300000 1600000

8.79

5.47

8000000

6000000

0.099 24000000

0.76

13000000

1700000 4400000

3.84

2.75

5000000

9000000

22000000

19000000

12000000

16000000

Mining interests<div style="padding-left:36pt;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:29.960%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.026%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Mineral Properties</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Buildings, plant & equipment</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Construction-in-progress</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Exploration & evaluation assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Cost</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,417,447 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,954,150 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,394,143 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">647,455 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,413,195 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Additions</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">152,559 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">87,234 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">685,869 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">23,901 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">949,563 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Capitalized interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,008 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,008 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Disposals</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(21,087)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(27,165)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,230)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(58,482)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Write-downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(636)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(636)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Transfers</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">771,391 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">73,523 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(849,872)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,958)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:middle">Change in mine restoration provision estimates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">32,333 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,687 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,819 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">37,839 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,352,643 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,087,742 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,263,835 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">662,309 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,366,529 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Additions</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">223,411 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">189,927 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">446,558 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">47,209 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">907,105 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Capitalized interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,989 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,989 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Disposals</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(350,469)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(92,072)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(442,541)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Write-downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(5,118)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(5,118)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Transfers</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">315,323 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,440,460 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,755,783)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:middle">Change in mine restoration provision estimates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">17,788 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">543 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">18,331 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,558,696 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,626,057 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,599 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">704,943 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,899,295 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="15" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Accumulated depreciation, depletion, amortization and impairment</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,488,833)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,073,678)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(287,194)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,849,705)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top">Depreciation and depletion </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(192,495)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(181,027)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(373,522)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top">Impairment</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(770,848)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(57,855)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(47,673)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(876,376)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top">Disposals </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,509 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,509 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,452,176)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,288,051)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(334,867)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,075,094)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Depreciation and depletion</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(264,064)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(234,096)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(498,160)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Disposals</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">350,469 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">83,827 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">434,296 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,365,771)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,438,320)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(334,867)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,138,958)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Net book value at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">900,467 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">799,691 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,263,835 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">327,442 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,291,435 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Net book value at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,192,925 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,187,737 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,599 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">370,076 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,760,337 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Goose Mine</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On October 2, 2025, management determined that the Goose Mine achieved commercial production. In connection with this transition, construction-in-progress was transferred to buildings, plant and equipment and mineral properties, the Company ceased capitalizing borrowing costs and depletion and depreciation of the Goose Mine assets commenced.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Otjikoto Mine</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company wrote off components of the mineral properties related to open pit mining activities at the Otjikoto Mine with a net book value of $nil million (cost of $284 million less accumulated depreciation of $284 million). With the conclusion of the open pit mining operations at the Otjikoto Mine, no future economic benefit is expected to be conferred from these assets. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Impairment of the Goose Mine CGU</div><div style="padding-left:18pt"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company completed an updated construction cost estimate for the Goose Mine. The updated estimate, which showed a significant increase in the expected construction cost to complete, was determined to be an indicator of impairment for the Goose Mine assets. The Company’s analysis concluded that the Goose Mine CGU was impaired resulting in an impairment charge of $661 million recorded in the Consolidated Statement of Operations during the year ended December 31, 2024.</div><div style="padding-left:18pt;text-align:justify">Impairment of the Fekola Complex CGU</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2023, the State of Mali (the "State") introduced a new mining code (the “2023 Mining Code”) and related Local Content Law. In July 2024, the accompanying Implementation Decrees, which clarify how the provisions of the 2023 Mining Code and Local Content Law should be applied, were enacted into law. The Company’s analysis concluded that the Fekola Complex CGU was impaired resulting in an impairment of $215 million. A net impairment charge of $194 million after taking into account a deferred income tax recovery of $21 million was recorded in the Consolidated Statement of Operations for the year ended December 31, 2024. On September 11, 2024, the Company reached a Memorandum of Understanding (the "Agreement") with the State which covers the ongoing operation and governance of the Fekola Complex as well as the settlement of existing income tax, customs and other regulatory disputes covering the period 2016 to December 31, 2023 and the distribution of dividends attributed to the State of Mali up to December 31, 2023.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Principal terms of the agreement:</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Settlement of income tax and customs assessments for the period from 2016 through 2023 of $70 million. An expense of $67 million (net of previous accruals) was recorded as an income tax expense in the Consolidated Statement of Operations for the year ended December 31, 2024;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Settlement of other regulatory disputes related to the timing of repatriation of funds of $17 million. This amount was paid upon signing of the Agreement and was recorded in Other Expense in the Consolidated Statement of Operations for the year ended December 31, 2024;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Distribution of retained earnings of $107 million attributed to the State of Mali's non-controlling interest from its 10% ordinary share ownership in the Fekola Mine up to December 31, 2023. The ordinary dividend was paid during the year ended December 31, 2024;</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•Upon completion of certain conditions precedent, the State of Mali's 10% ordinary share interest in Fekola was converted into a 10% preferred share interest. The rights of the additional preferred share interest are consistent with the State of Mali's 10% free carried interest including priority dividend rights, therefore, this is accounted for as an income tax under IAS 12 Income taxes; and</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•In addition to the above, the Company forgave the principal and accrued interest balance outstanding totalling $69 million on the loan made to the State for the purchase of their 10% ordinary share ownership. This was recorded within Equity on the Consolidated Balance Sheet.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Versamet transaction</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On June 5, 2024, the Company entered into a purchase and sale agreement (the "Versamet Agreement") to sell a portfolio of ten metal royalties (the "Royalties") to Versamet in exchange for 122 million Versamet shares at Cdn. $0.80 per share for proceeds of $71 million. Upon completion of the second tranche, on August 13, 2024, the Company received 17 million Versamet shares at Cdn. $0.80 per share for proceeds of $10 million. The Company recorded a $49 million gain on sale of mining interests in the Consolidated Statement of Operations for the year ended December 31, 2024</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Other</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company wrote-off $5 million (2024 - $1 million) relating to non-core properties that it no longer plans to proceed with.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company sold a royalty on the Quebradona Property in Colombia, with no book value, to the owner of the property for proceeds of $7.5 million. This amount was recorded as a Gain on Sale of Mining Interests in the Consolidated Statement of Operations for the year.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">As at December 31, 2025 the Company had leased assets of $55 million (2024 - $35 million) under IFRS 16. The leased assets primarily consisted of the equipment related to underground mining of $27 million (cost of $38 million net of $11 million in accumulated depreciation), corporate offices of $16 million (cost of $24 million net of $8 million in accumulated depreciation), (2024 - $17 million, cost of $24 million net of $7 million in accumulated depreciation) and other leased assets of $12 million (cost of $32 million net of $20 million in accumulated depreciation), (2024 - $18 million, costs of $32 million net of $14 million in accumulated depreciation) classified as buildings, plant and equipment.</div>

<div style="padding-left:36pt;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:29.960%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.026%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Mineral Properties</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Buildings, plant & equipment</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Construction-in-progress</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Exploration & evaluation assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Cost</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,417,447 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,954,150 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,394,143 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">647,455 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,413,195 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Additions</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">152,559 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">87,234 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">685,869 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">23,901 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">949,563 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Capitalized interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,008 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,008 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Disposals</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(21,087)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(27,165)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,230)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(58,482)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Write-downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(636)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(636)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Transfers</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">771,391 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">73,523 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(849,872)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,958)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:middle">Change in mine restoration provision estimates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">32,333 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,687 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,819 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">37,839 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,352,643 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,087,742 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,263,835 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">662,309 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,366,529 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Additions</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">223,411 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">189,927 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">446,558 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">47,209 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">907,105 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Capitalized interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,989 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,989 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Disposals</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(350,469)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(92,072)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(442,541)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Write-downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(5,118)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(5,118)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Transfers</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">315,323 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,440,460 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,755,783)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:middle">Change in mine restoration provision estimates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">17,788 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">543 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">18,331 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,558,696 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,626,057 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,599 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">704,943 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,899,295 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="15" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Accumulated depreciation, depletion, amortization and impairment</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,488,833)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,073,678)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(287,194)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,849,705)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top">Depreciation and depletion </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(192,495)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(181,027)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(373,522)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top">Impairment</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(770,848)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(57,855)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(47,673)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(876,376)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:top">Disposals </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,509 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,509 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,452,176)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,288,051)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(334,867)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,075,094)</td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Depreciation and depletion</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(264,064)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(234,096)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(498,160)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top">Disposals</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">350,469 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">83,827 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">434,296 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,365,771)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,438,320)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(334,867)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,138,958)</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Net book value at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">900,467 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">799,691 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,263,835 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">327,442 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,291,435 </td><td style="background-color:#ffffff;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:1.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Net book value at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,192,925 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,187,737 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,599 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">370,076 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,760,337 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

2417447000

1954150000

1394143000

647455000

6413195000

152559000

87234000

685869000

23901000

949563000

30008000

21087000

27165000

10230000

58482000

-636000

771391000

73523000

-849872000

-4958000

32333000 0 3687000 1819000 37839000

3352643000

2087742000

1263835000

662309000

7366529000

223411000

189927000

446558000

47209000

907105000

54989000

350469000

92072000

442541000

-5118000

315323000

1440460000

-1755783000

17788000 0 0 543000 18331000

3558696000

3626057000

9599000

704943000

7899295000

-1488833000

-1073678000

-287194000

-2849705000

192495000

181027000

373522000

770848000

57855000

47673000

876376000

-24509000

-2452176000

-1288051000

-334867000

-4075094000

264064000

234096000

498160000

-350469000

-83827000

-434296000

-2365771000

-1438320000

-334867000

-4138958000

900467000

799691000

1263835000

327442000

3291435000

1192925000

2187737000

9599000

370076000

3760337000

284000000

661000000

215000000

194000000 21000000 70000000 67000000 17000000

107000000

0.10

69000000

0.10

10 122000000 0.80 -71000000 17000000 0.80 -10000000

49000000

5000000 1000000

7500000

55000000

35000000

27000000

38000000

-11000000

16000000

24000000

-8000000

17000000

24000000

-7000000

12000000

32000000

-20000000

18000000

32000000

-14000000

Investment in associates<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:43.748%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.025%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Versamet</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Calibre</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Other</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">130,953 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,139 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">134,092 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt">Interest acquired (Note 9 )</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88,933 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,589 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">90,522 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Share of net (loss) income</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,866)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,874 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(378)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,630 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Interest disposed</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(83,480)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(83,480)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Transfer to long-term investments</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(43,363)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(43,363)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Loss on dilution</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,984)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,984)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">87,067 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,350 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">91,417 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Share of net income (loss)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,566 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,321)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(755)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Interest acquired</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,521 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,521 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89,633 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,550 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">98,183 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Versamet </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The equity accounting for Versamet is based on its published results to September 30, 2025. The following is a summary of the Condensed Interim Statement of Financial Position of Versamet at September 30, 2025 on a 100% basis: Current assets - $16 million, non-current assets - $385 million, total assets - $400 million, current liabilities - $24 million, non-current liabilities - $158 million and net assets - $218 million. The following is a summary of the Condensed Interim Statement of Operations of Versamet for the nine months ending September 30, 2025 on a 100% basis: Revenues - $16 million, production costs - $10 million, depreciation and depletion - $3 million, other operating expenses - $3 million, stock-based compensation - $1 million, interest and financing expense - $9 million, deferred income tax expense - $3 million and net income - $5 million. The Company's equity share of Versamet's estimated net income for the year ended December 31, 2025 was $3 million (2024 - loss of $2 million). As at December 31, 2025, the fair value of the Company's ownership in Versamet, based on quoted market prices, was $284 million .</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Calibre</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On June 20, 2024, the Company sold 79 million of its 111 million shares in its associate Calibre Mining Corp ("Calibre") for proceeds of $100 million (see Note 10). The transaction resulted in $17 million gain on sale of shares in associate recorded in the Consolidated Statement of Operations for the year ended December 31, 2024. As a result of the decreased shareholding and no longer having the right to nominate a member to the Board of Directors of Calibre, the Company determined it no longer had significant influence over Calibre. The remaining investment of 32 million shares, valued at $43 million, was reclassified to Long-term investments in the Consolidated Balance Sheet. The Company sold the remaining 32 million shares in Calibre for proceeds of $58 million during the year ended December 31, 2024.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Other</div>On December 22, 2025, the Company entered into a debt settlement agreement with BeMetals Corp. ("BeMetals") and converted its loans to associate into 53,450,175 shares in BeMetals.

<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:43.748%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.025%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Versamet</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Calibre</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Other</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">130,953 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,139 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">134,092 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt">Interest acquired (Note 9 )</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88,933 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,589 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">90,522 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Share of net (loss) income</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,866)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,874 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(378)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,630 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Interest disposed</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(83,480)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(83,480)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Transfer to long-term investments</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(43,363)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(43,363)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Loss on dilution</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,984)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,984)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">87,067 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,350 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">91,417 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Share of net income (loss)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,566 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,321)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(755)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Interest acquired</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,521 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,521 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89,633 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,550 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">98,183 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

130953000

3139000

134092000

88933000 0 1589000 90522000

-1866000

4874000

-378000

2630000

0 83480000 0 83480000 0 43363000 0 43363000 0 -8984000 0 -8984000

87067000

4350000

91417000

2566000

-3321000

-755000

0 0 7521000 7521000

89633000

8550000

98183000

16000000

385000000

400000000

24000000

158000000

218000000

16000000

10000000 3000000

3000000

1000000

9000000

3000000

5000000

3000000

-2000000

284000000

79000000 111000000

100000000

17000000

32000000

43000000

32000000

58000000

53450175

Other assets<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Reclamation deposits</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">68,808 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,375 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Restricted cash</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,109 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,054 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid withholding tax</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,473 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">69 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">62 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,986 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">73,964 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt"> </div><div style="padding-left:18pt;text-align:justify">Reclamation deposits include amounts for the Fekola Mine of $27 million (2024 - $22 million), for the Otjikoto Mine of $23 million (2024 – $18 million), for the Goose Mine of $14 million (2024 - $11 million) and for the Masbate Mine of $5 million (2024 - $4 million).</div>During the year ended December 31, 2024, the Company advanced $2 million to its associate BeMetals. Also, during the year ended December 31, 2024, the Company recorded an expected credit loss of $7 million on its loan to its associate.

<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Reclamation deposits</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">68,808 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,375 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Restricted cash</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,109 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,054 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Prepaid withholding tax</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,473 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">69 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">62 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,986 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">73,964 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 68808000 54375000

6109000

5054000

0 14473000 69000 62000

74986000

73964000

27000000 22000000 23000000 18000000 14000000 11000000 5000000 4000000 2000000 7000000

Long-term debt<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.052%"><tr><td style="width:1.0%"></td><td style="width:29.493%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.108%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Convertible senior secured notes</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">New revolving credit facility</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Old revolving credit facility</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Equipment loans</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Lease Liabilities</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">142,635 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20,651 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28,839 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">192,125 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Draw downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">450,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,779 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">457,779 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Debt repayments</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(200,000)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,042)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,531)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(217,573)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Transfer outstanding balance to new revolving credit facility</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">400,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(400,000)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Lease liabilities incurred</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,343 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,343 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Lease liabilities terminated</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(461)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(461)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Foreign exchange gains</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(618)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,291)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,909)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Deferred financing costs incurred</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(8,310)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,310)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Deferred financing costs written off</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,766 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,766 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Non-cash interest and financing expense</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,599 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">137 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,387 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,123 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">391,690 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16,907 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29,286 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">437,883 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Draw downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">200,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,463 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">681,463 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Debt repayments</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(450,000)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14,003)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(22,078)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(486,081)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Portion allocated to equity</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(95,298)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(95,298)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Interest payment</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,430)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,430)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Financing costs incurred</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,168)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,168)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Lease liabilities incurred</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,868 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,868 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Lease liabilities derecognized</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,050)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,050)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Foreign exchange losses</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,651 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,727 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,378 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Non-cash interest and financing expense</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">28,191 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,097 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,457 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">35,745 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">375,295 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">143,787 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,018 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52,210 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">598,310 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Current portion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,271)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,532)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(20,067)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33,870)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">370,024 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">143,787 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,486 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">32,143 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">564,440 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Convertible senior unsecured notes</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On January 28, 2025, the Company issued convertible senior unsecured notes (“the Notes”) with an aggregate principal amount of $460 million for cash proceeds of $446 million net of financing costs of $14 million. The notes bear interest at a rate of 2.75% per annum, payable semi-annually on February 1st and August 1st of each year commencing from August 1, </div><div style="padding-left:18pt;text-align:justify">2025. The Notes mature on February 1, 2030. The initial conversion rate for the Notes is 315.2088 common shares of the Company per $1,000 principal amount of Notes, equivalent to an initial conversion price of approximately $3.17 per share. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The initial conversion rate is subject to adjustment in certain events. In addition, if certain fundamental changes occur, including a change in control or upon notice of redemption by the Company as described below, the holders may elect to convert the Notes. In the event of a fundamental change, the holders may elect to convert any outstanding Notes at a cash purchase price equal to 100% of the principal amount plus accrued and unpaid interest.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">A fundamental change includes the following occurrences:</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•A change in control where a person or group becomes the beneficial owner of more than 50% of our voting stock or gains the power to elect a majority of our board of directors.</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•The consummation of significant transactions such as certain mergers or consolidations pursuant to which our common shares will be converted or exchanged for cash, securities or other property, or sales of substantially all our assets that change the corporate structure or ownership.</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•Approval by our shareholders of any plan for liquidation or dissolution.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Prior to February 7, 2028, the Company may not redeem the Notes except in the event of certain changes in Canadian tax law. At any time on or after February 7, 2028, and until maturity, the Company may redeem all or part of the Notes for cash if the price of the Company’s common shares for at least 20 trading days in a period of 30 consecutive trading days, ending on the trading day prior to the date of notice of redemption, exceeds 130% of the conversion price in effect on each such day. The redemption price is equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest. This option was not separated as it is considered closely related to the underlying instrument. If the Company redeems the Notes, the initial conversion ratio could be adjusted.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Notes are the Company's senior unsecured obligations and rank equally with all existing and future senior unsecured indebtedness. The Notes are effectively unsecured to all of the Company's existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness. The Notes are structurally unsecured to all existing and future liabilities, including trade payables, of the Company's subsidiaries.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company exercised judgement in determining whether the conversion feature represented a contract that could be settled by the Company delivering a fixed number of its own equity instruments, in exchange for a fixed amount of consideration, taking into consideration potential adjustments to the initial conversion ratio. The Company determined that the Notes are compound financial instruments consisting of a financial liability, and a conversion option that is classified as equity. Of the gross proceeds of $460 million, $365 million was allocated to the liability component, representing the fair value of the liability component on initial recognition, calculated as the present value of the contractual principal and interest payments over the term of the Notes using a discount rate of 7.8%. Total financing costs of $14 million were allocated to the liability and equity components in proportion to the allocation of the gross proceeds, with $11 million allocated to the liability and $3 million allocated to equity. The net liability of $354 million ($365 million net of $11 million of financing costs) will be accreted to the face value of the Notes over the term to maturity using the effective interest method with an effective interest rate of 8.5%. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The equity component, representing the holders’ conversion option, was allocated the residual amount of $95 million. The net amount recorded in the Consolidated Statement of Changes in Equity at December 31, 2025, was $67 million calculated as $95 million option valuation less $3 million of allocated financing costs and a deferred tax charge of $25 million for the taxable temporary difference arising from the difference between the initial carrying amount of the liability component of the Notes and the tax base. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">In connection with the Notes, the Company entered into a cash settled total return swap with one of the initial purchasers of the Notes for common shares of the Company with a total value of $50 million. During the year ended December 31, 2025, the Company settled the total return swap for a gain of $8 million. This gain was recorded as part of Losses on derivative instruments in the Consolidated Statements of Operations for the year ended December 31, 2025.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Revolving credit facilities</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On December 17, 2024, the Company entered into a new revised revolving credit facility ("new RCF") agreement with a syndicate of banks. The maximum available for drawdown under the facility is $800 million with an accordion feature, available on the receipt of additional binding commitments, for a further $200 million.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Drawdowns on the new RCF can be in either United States or Canadian dollars. The new RCF bears interest on a sliding scale based on the Secured Overnight Financing Rate (“SOFR”) or the Canadian Overnight Repo Rate Average ("CORRA") plus term credit spread adjustment in addition to a sliding scale premium between 1.88% to 2.50% based on the Company's net leverage ratio. Commitment fees for the undrawn portion of the facility are also on a sliding scale basis between 0.42% </div><div style="padding-left:18pt;text-align:justify">and 0.563% based on the Company's net leverage ratio. The term of the new RCF is four years, maturing on December 17, 2028. Transaction costs on the new RCF of $8 million are amortized over the facility term.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has provided security on the new RCF in the form of a general security interest over the Company’s assets and pledges, creating a charge over the shares of certain of the Company’s direct and indirect subsidiaries. In connection with the new RCF, the Company must also maintain an interest coverage ratio greater than or equal to 3:1 for any fiscal quarter and a leverage ratio of less than 3.5:1 for any fiscal quarter. As at December 31, 2025, the Company was in compliance with these debt covenants. During the year ended December 31, 2025, the Company paid outstanding financing costs of $4 million on the new RCF.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Pursuant to the terms of the new RCF, the Company implemented a gold collar hedging program structured to achieve a minimum cumulative financial settlement of $220 million relative to an assumed refined gold market price of $1,750 per ounce and 20% of the Company's forecasted production volumes for fiscal years 2025 and 2026 per the most recent life-of-mine plan consolidated projected gold production and shall maintain such gold hedging program (allowing, however, for the wind down of the program in the ordinary course) until the earlier of (i) the date such hedging program has achieved a minimum cumulative financial settlement of $220 million and December 31, 2026 (Note 17).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Upon entering into the new RCF, the Company transferred the $400 million outstanding balance from its old RCF. The old RCF bore interest on a sliding scale based on SOFR plus term credit spread adjustment in addition to a sliding scale premium between 2.00% to 2.50%. Commitment fees for the undrawn portion of the old RCF were between 0.450% and 0.563%. Unamortized transaction costs on the old RCF of 4 million were written off as financing expense in the Consolidated Statement of Operations for the year ended December 31, 2024.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company drew down $200 million and repaid $450 million on the new RCF. As at December 31, 2025, the Company had $650 million available for future draw downs.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Subsequent to December 31, 2025, the Company repaid $100 million on the new RCF.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Fekola equipment loan facilities</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During 2016, the Company entered into a Euro 71 million term equipment facility (the "first equipment facility") with Caterpillar Financial SARL, as Mandated Lead Arranger, and Caterpillar Financial Services Corporation, as original lender. The aggregate principal amount of up to Euro 71 million was available to the Company’s subsidiary, Fekola SA (the “Borrower”) to finance or refinance the mining fleet and other mining equipment at the Fekola Mine and was fully utilized. During the year ended December 31, 2025, the Borrower fully repaid the first equipment facility.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On September 29, 2020, the Company entered into a second term equipment facility (the "second equipment facility") with Caterpillar Financial Services Corporation for aggregate principal amount of up to the Euro equivalent of $40 million. The second equipment facility was available to the Borrower to finance or refinance up to 75% of the cost of the mining fleet and other mining equipment at the Fekola Mine. On October 26, 2020, the Borrower drew down the entire amount under the new equipment facility for proceeds of Euro 36 million.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">On December 9, 2024, the Company entered into a third term equipment facility (the "third equipment facility") with Caterpillar Financial Services Corporation for aggregate principal amount of up to the Euro equivalent of $35 million. The third equipment facility is available to the Borrower to finance or refinance a specified percentage of the cost of spare parts, mining fleet and other mining equipment at the Fekola Mine. As at December 31, 2025, the Borrower has drawn down the $29 million under the third equipment facility. The Borrower has until March 31, 2026 to draw under this facility.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Each equipment loan under the Fekola equipment facilities is repayable in 20 equal quarterly installments except for loans financing the cost of spare parts which are repayable in 16 equal installments. The final repayment date shall be five years or four years, respectively, from the first disbursement under each equipment loan. The interest rate on each loan is a rate per annum equal to the Euro Interbank Offer Rate ("EURIBOR") plus a margin of 4.25% for existing equipment and EURIBOR plus a margin of 3.25% for other loans. The Company and its wholly-owned subsidiary, Mali Mining Investments Limited, have guaranteed the second equipment facility and security is given over the equipment of the Borrower which has been financed by the second and third equipment facility, related warranty and insurance. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">In connection with the Fekola equipment loan facilities, the Company must also maintain an interest coverage ratio greater than or equal to 3:1 for any fiscal quarter and a leverage ratio of less than 3.5:1 for any fiscal quarter. As at December 31, 2025, the Company was in compliance with these debt covenants.</div><div style="padding-left:18pt;text-align:justify">Lease liabilities</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company entered into contracts for underground development and mining work at the Fekola Mine and at the Otjikoto Mine that resulted in the recognition of $29 million of right-of use assets and $29 million of lease liabilities and $9 million of right-of-use assets and $9 million of lease liabilities, respectively. The valuation of the lease at the Otjikoto and Fekola mines was based on a 2 and 4 year term, respectively. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, payments totalling $5 million (2024 - $9 million) relating to short-term leases (those with a term of 12 months or less) and $59 million (2024 - $55 million) relating to variable lease payments (including both lease and non-lease components) have been expensed in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The expected timing of undiscounted lease payments at December 31, 2025, for leases accounted for under IFRS 16 is as follows:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:81.048%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.088%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Less than one year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,482 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">One to five years</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,869 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">More than five years</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,219 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">61,570 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, the Company recognized depreciation expense of $19 million (2024 - $7 million) on right-of-use assets recognized under IFRS 16, Leases in the Consolidated Statement of Operations and made payments on these leases of $22 million (2024 - $7 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Debt repayment schedule</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The following table summarizes the Company’s scheduled debt repayments on its outstanding debt as at December 31, 2025:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:38.174%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.026%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2028</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2029</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2030</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Convertible senior secured notes</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,325 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,925 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Revolving credit facility</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest & commitment fees (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,083 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,923 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola equipment loan facilities:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,815 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26,320 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,355 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">897 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">441 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,731 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Goose equipment loan facility:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Lease liabilities</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,718 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,177 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,085 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,608 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,404 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,992 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">49,697 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,979 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">187,094 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,111 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">468,729 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">766,610 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.052%"><tr><td style="width:1.0%"></td><td style="width:29.493%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.097%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.108%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Convertible senior secured notes</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">New revolving credit facility</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Old revolving credit facility</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Equipment loans</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Lease Liabilities</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">142,635 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20,651 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28,839 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">192,125 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Draw downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">450,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,779 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">457,779 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Debt repayments</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(200,000)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,042)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,531)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(217,573)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Transfer outstanding balance to new revolving credit facility</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">400,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(400,000)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Lease liabilities incurred</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,343 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,343 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Lease liabilities terminated</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(461)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(461)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Foreign exchange gains</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(618)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,291)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,909)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Deferred financing costs incurred</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(8,310)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,310)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Deferred financing costs written off</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,766 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,766 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Non-cash interest and financing expense</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,599 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">137 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,387 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,123 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">391,690 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16,907 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29,286 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">437,883 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Draw downs</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">200,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,463 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">681,463 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Debt repayments</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(450,000)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(14,003)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(22,078)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(486,081)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Portion allocated to equity</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(95,298)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(95,298)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Interest payment</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,430)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,430)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Financing costs incurred</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,168)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,168)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Lease liabilities incurred</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,868 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,868 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Lease liabilities derecognized</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,050)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,050)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Foreign exchange losses</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,651 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,727 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,378 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Non-cash interest and financing expense</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">28,191 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,097 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,457 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">35,745 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">375,295 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">143,787 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,018 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">52,210 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">598,310 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Current portion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,271)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,532)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(20,067)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33,870)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">370,024 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">143,787 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,486 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">32,143 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">564,440 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

142635000

20651000

28839000

192125000

0 0 450000000 7779000 0 457779000 0 0 200000000 11042000 6531000 217573000 0 400000000 -400000000 0 0 0 0 0 0 0 8343000 8343000 0 0 0 0 461000 461000

618000

2291000

2909000

0 8310000 0 0 0 8310000 0 0 3766000 0 0 3766000

3599000

137000

1387000

5123000

391690000

16907000

29286000

437883000

460000000 200000000 0 21463000 0 681463000 0 450000000 0 14003000 22078000 486081000 95298000 0 0 0 0 95298000 -6430000 0 0 0 0 -6430000 11168000 0 0 0 0 11168000 0 0 0 0 38868000 38868000 0 0 0 0 1050000 1050000

-2651000

-1727000

-4378000

28191000

2097000

5457000

35745000

375295000

143787000

27018000

52210000

598310000

5271000

8532000

20067000

33870000

370024000

143787000

18486000

32143000

564440000

460000000

446000000

14000000

0.0275

3.17 1 20 30 1.30 1 460000000 365000000

0.078

14000000

11000000 3000000 354000000 365000000 11000000 0.085 95000000

67000000

95000000 3000000 25000000 50000000

8000000

800000000 200000000

0.0188

0.0250

0.0042 0.00563 P4Y

8000000

3 3.5 4000000 220000000 1750 0.20 220000000 -400000000

0.0200

0.0250

0.00450 0.00563 4000000 200000000

450000000

650000000

100000000

71000000 71000000 40000000 0.75

36000000

35000000

29000000

20 16 P5Y P4Y

0.0425

0.0325

3 3.5

29000000

9000000

P2Y P4Y

5000000

9000000

59000000

55000000

<div style="padding-left:18pt;text-align:justify">The expected timing of undiscounted lease payments at December 31, 2025, for leases accounted for under IFRS 16 is as follows:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:81.048%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.088%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Less than one year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,482 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">One to five years</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,869 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">More than five years</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,219 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">61,570 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

20482000

30869000

10219000

61570000

19000000

7000000

22000000

7000000

<div style="padding-left:18pt;text-align:justify">The following table summarizes the Company’s scheduled debt repayments on its outstanding debt as at December 31, 2025:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:38.174%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.026%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2028</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2029</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2030</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Convertible senior secured notes</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,325 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,925 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Revolving credit facility</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest & commitment fees (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,083 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,923 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola equipment loan facilities:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,815 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26,320 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,355 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">897 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">441 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,731 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Goose equipment loan facility:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Lease liabilities</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,718 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,177 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,085 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,608 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,404 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,992 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">49,697 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,979 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">187,094 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,111 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">468,729 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">766,610 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

460000000

12650000 12650000 12650000 12650000 6325000 56925000

150000000

9420000 9420000 9083000 0 0 27923000

7835000

2815000

26320000

1355000 897000 441000 38000 0 2731000

698000

21000 0 0 0 0 21000

17718000

12177000

7085000

2608000

2404000

41992000

49697000 42979000 187094000 18111000 468729000 766610000

Mine restoration provisions<div style="padding-left:18pt;text-align:justify">The Company’s mine restoration provisions consist primarily of costs associated with mine reclamation and closure activities. These activities, which are site specific, generally include costs for earthworks, including detoxification and recontouring, revegetation, water treatment, demolition and removal of items from site where required. In calculating the present value of the Company’s mine restoration provisions as at December 31, 2025, management used a risk-free rate applicable to each location’s functional currency ranging from 4.12% to 4.28% and a long-term inflation rate of 2.2%. The undiscounted cash flows, before inflation adjustments to settle the mine restoration provisions were estimated at approximately $200 million at December 31, 2025 (2024 - $187 million). Due to the nature of mine closure plans, cash expenditures are expected to occur over a significant period of time with the majority of the expenditures expected to occur in the years from 2033 to 2039.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The following table shows the movement in the provision for mine restoration provisions:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, beginning of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">147,711 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">107,657 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Reclamation spending</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,134)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,088)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Accretion expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,499 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,305 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in obligation</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">18,331 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,837 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, end of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,407 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">147,711 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Less: current portion</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(18,114)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(7,170)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">151,293 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">140,541 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

0.0412 0.0428 0.022 200000000 187000000

<div style="padding-left:18pt;text-align:justify">The following table shows the movement in the provision for mine restoration provisions:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, beginning of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">147,711 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">107,657 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Reclamation spending</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,134)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,088)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Accretion expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,499 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,305 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in obligation</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">18,331 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,837 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, end of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,407 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">147,711 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Less: current portion</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(18,114)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(7,170)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">151,293 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">140,541 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

147711000

107657000

3134000

2088000

6499000

4305000

18331000

37837000

169407000

147711000

18114000

7170000

151293000

140541000

Share capital<div style="padding-left:18pt;text-align:justify">In April 2025, the Company received approval from the TSX to implement a Normal Course Issuer Bid ("NCIB") pursuant to which the Company may purchase up to a maximum of 5% of its issued and outstanding common shares during the period commencing April 3, 2025 and ending April 2, 2026. As at December 31, 2025, the Company repurchased and cancelled 2 million common shares for $10 million under the NCIB. The Company is allowed to repurchase its common shares, through the facilities of the TSX, the NYSE American and other designated exchanges or alternative trading systems or by such other means as may be permitted by applicable Canadian and U.S. securities laws. Subsequent to December 31, 2025, the Company repurchased and cancelled a further 5 million shares for $24 million under the NCIB.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s authorized share capital consists of an unlimited number of common shares and an unlimited number of preferred shares. As at December 31, 2025, the Company had 1,340,621,856 common shares outstanding. No preferred shares were outstanding.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company paid a quarterly dividend of $0.02 per share totalling $107 million for the year. Of this amount, $3 million was paid through the issuance of 1 million shares under the Company's Dividend Re-investment Plan ("DRIP"). During the year ended December 31, 2024, the Company paid a quarterly dividend of $0.04 per share totalling $211 million for the year. Of this amount, $25 million was paid through the issuance of 9 million shares under the Company's DRIP. The dividends have been recognized in retained deficit in the Consolidated Statement of Changes in Equity during the respective period. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Subsequent to December 31, 2025, on February 18, 2026, B2Gold’s Board of Directors declared a cash dividend for the first quarter of 2026 of $0.02 per common share, payable on March 19, 2026, to shareholders of record as of March 6, 2026. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company issued 2 million flow-through shares for cash proceeds of $14 million. The flow-through premium of $4 million was booked to Other Current Liabilities in the Consolidated Balance Sheet at December 31, 2025. In conjunction with the issuance of the flow-through shares, the Company has committed to spending Cdn. $20 million on eligible exploration expenditures in Canada by December 31, 2026. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company issued 3 million flow-through shares for cash proceeds of $10 million. The flow-through premium of $3 million was booked to Other Current Liabilities in the Consolidated Balance Sheet at December 31, 2024. In conjunction with the issuance of the flow-through shares, the Company spent Cdn. $15 million on eligible exploration expenditures in Canada during the year ended December 31, 2025, and the flow through premium was recognized in Other income (expense) in the Consolidated Statements of Operations during the period. </div><div style="padding-left:18pt;text-align:justify">During 2025, the Company received $66 million (2024 - $3 million) pursuant to the exercise of 20 million (2024 – 1 million) stock options.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Stock options</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, 4 million stock options were granted to employees with exercise prices ranging from Cdn. $3.85 to Cdn. $6.19 per share. These stock options have a term of up to five years and vest over a period of up to three years. The estimated fair value when granted of these options totalling $3 million is being recognized over the vesting period. The fair value was calculated using the Black-Scholes option pricing model based on a risk-free annual interest rate of up to 2.8%, an expected life of up to 3 years, an expected volatility of up to 40% and a dividend yield rate of up to 3.0%.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During 2024, approximately 22 million stock options were granted to employees and directors with exercise prices ranging from Cdn. $3.48 to Cdn. $4.40 per share. These stock options have a term of up to five years and vest over a period of up to three years. The estimated fair value when granted of these options totalling $11 million is being recognized over the vesting period. The fair value was calculated using the Black-Scholes option pricing model based on a risk-free annual interest rate of up to 3.8%, an expected life of up to 3 years, an expected volatility of up to 38% and a dividend yield rate of up to 6.2%.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Option pricing models require the input of subjective assumptions regarding the expected volatility. The Company calculates expected volatility based on the historical volatility of its stock price. Changes in this assumption can materially affect the fair value estimate.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, share-based payments expense, relating to the vesting of stock options, was $5 million (2024 - $5 million), net of $1 million (2024 - $1 million) capitalized to mining interests.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">A summary of changes to stock options outstanding is as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of outstanding options</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted- average exercise price</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">(‘000’s)</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">(in Cdn.$)</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,967 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.09 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Granted</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">22,064 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.71 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Exercised</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,247)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.39 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Forfeited or expired</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,579)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.01 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">50,205 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.53 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Granted</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,810 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.83 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Exercised</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(19,639)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.68 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Forfeited or expired</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,419)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.81 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31,957 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.46 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, 20 million (2024 – 1 million) stock options were exercised. The weighted average share price at the time of exercise was Cdn. $6.51 (2024 – Cdn. $4.09).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Stock options outstanding and exercisable as at December 31, 2025, are as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:15.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.719%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Range of exercise prices (in Cdn. $)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of outstanding options (‘000’s)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted- average years to expiry</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted-average exercise price (in Cdn. $)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of exercisable options (‘000’s)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted-average exercise price (in Cdn. $)</td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">2.95 – 2.99</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:right;vertical-align:top">1.39</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2.95 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2.95 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">3.00 – 3.99</div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">15,664 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top">4.11</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.69 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,933 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.69 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">4.00 – 4.99</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,616 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:right;vertical-align:top">3.32</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.45 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,021 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.44 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">5.00 – 5.99</div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,743 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top">1.87</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.45 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,963 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.46 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">6.00 – 6.99</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,928 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:right;vertical-align:top">1.14</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6.24 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,617 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6.25 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31,957 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top">3.18</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.46 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">19,540 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.65 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">Restricted share unit plan</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has a Restricted Share Unit Plan (the “RSU Plan”) whereby restricted share units (“RSUs”) may be granted to directors, executive officers and employees of the Company. Once vested, each RSU is redeemable for one common share entitling the holder to receive the common share for no additional consideration.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company granted approximately 3 million (2024 – 2 million) RSUs to executive officers and employees of the Company. One-third of the RSUs vest one year from the grant date, another one-third will vest two years from the grant date with the remainder vesting three years from the grant date. The total estimated fair value of the RSU granted was approximately $8 million (2024 - $6 million) based on the market value of the Company’s shares at the grant date. The fair value of each RSU is recorded as a share-based payments expense over the vesting period.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, share-based payments expense relating to the vesting of RSUs was $7 million (2024 - $7 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Summary of changes to RSUs outstanding:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:82.687%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of outstanding RSUs</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">(‘000’s)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2023</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,322 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Granted</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,382 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Vested and converted to common shares</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,625)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Reinvested dividend equivalents</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">277 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2024</td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,356 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Granted</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,802 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Vested and converted to common shares</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,223)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Forfeited</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(26)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Reinvested dividend equivalents</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2025</td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,027 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred share unit plan</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has a Deferred Share Unit plan (the "DSU plan") for the benefit of the directors of the Company. Pursuant to the plan, eligible directors can elect to receive all or part of their total cash compensation in the form of deferred share units ("DSUs"). The number of DSUs granted to an eligible director is determined by dividing the portion of the compensation to be paid in DSUs by the volume weighted average trading price of the common shares on the stock exchange on which the majority of the volume of trading of the shares occurred over the relevant period for the five trading days immediately preceding the date of grant. In addition, the Board may, at its discretion, grant additional DSUs to plan participants. Each eligible director is required to hold DSUs received until the eligible director ceases to be a director of the Company, following which the DSUs will be settled in cash. As the DSUs are cash settled, they are recorded as a liability at fair market value on the Consolidated Balance Sheet with changes in the fair value being recognized as a share-based payment expense or recovery in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, the Company issued 0.5 million DSUs (2024 - 0.5 million) with a fair market value of $1 million (2024 - $1 million) to directors of the Company. During the year ended December 31, 2025, 0.5 million (2024 - 0.1 million) DSUs valued at $1.8 million (2024 - $0.3 million) were released. As at December 31, 2025, there were 2.2 million DSUs outstanding (2024 - 2.2 million). For the year ended December 31, 2025, share-based payments expense relating to DSUs was $6 million (2024 - expense of $0.1 million). As at December 31, 2025, the Company had an $11 million (2024 - $5 million) liability related to the outstanding DSUs, recorded as part of Other current liabilities in the Consolidated Balance Sheet.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Performance share unit plan</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has a Performance Share Unit plan (the "PSU plan") for the benefit of officers, employees and eligible consultants. Under the plan, eligible participants will receive shares based on the achievement of certain defined performance measures over a defined period of time. The number of shares receivable shall be 0% to 200% of the </div><div style="padding-left:18pt;text-align:justify">performance share units ("PSUs") awarded, with the factor applied being dependent on the extent to which the defined performance measures have been achieved. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">PSU grants, when vested, can be settled in cash (instead of shares) at the Company’s sole discretion. The cash settlement option does not impact the accounting treatment of the PSUs. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company granted 2 million PSUs to employees comprised of two equal 50% tranches. Vesting of tranche one of the PSUs granted will depend on the growth of the Company's free cash flow and the number of shares that may vest will be between 0% to 200% of the number of tranche one PSUs. The estimated fair value when granted of this portion of $3 million was calculated based on the fair value of the Company's stock on the date of the grant and the expected increase in the free cash flow. Vesting of tranche two of the PSUs granted will depend on total shareholder return of the Company compared to a group of peer companies over the period January 1, 2025 to December 31, 2027. The number of shares that may vest will be between 0% and 200% of the number of tranche two PSUs. The estimated fair value when granted of the tranche two PSUs of $4 million was calculated using a risk-neutral Monte Carlo simulation based on a correlated Geometric Brownian Motion. The model used historical share price volatility ranging from 39% to 77% for the group, and a Canadian risk-free annual interest rate of 2.75%. The fair value of both tranches is being recognized over the vesting period.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, the Company granted 3 million PSUs to employees comprised of two equal 50% tranches. Vesting of tranche one of the PSUs granted will depend on the growth of the consolidated production profile and the number of shares that may vest will be between 0% to 200% of the number of tranche one PSUs. The estimated fair value when granted of this portion of $3 million was calculated based on the fair value of the Company's stock on the date of the grant and the expected increase in the production profile. Vesting of tranche two of the PSUs granted will depend on total shareholder return of the Company compared to a group of peer companies over the period January 1, 2024 to December 31, 2026. The number of shares that may vest will be between 0% and 200% of the number of tranche two PSUs. The estimated fair value when granted of the tranche two PSUs of $3 million was calculated using a risk-neutral Monte Carlo simulation based on a correlated Geometric Brownian Motion. The model used historical share price volatility ranging from 26% to 66% for the group, a Canadian risk-free annual interest rate of 4.19%, and a United States risk-free annual interest rate of 4.52%. The fair value of both tranches is being recognized over the vesting period.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company issued 0 million shares (2024 - 1 million shares) on the vesting of PSUs. As at December 31, 2025, 7 million PSUs were outstanding under the plan (2024 - 6 million). For the year ended December 31, 2025, share-based payments expense relating to PSUs was $6 million (2024 - $8 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Earnings per share</div><div style="padding-left:18pt;text-align:justify">The following is the calculation of basic and diluted earnings per share:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Net income (loss) (attributable to shareholders of the Company)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">401,908 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(629,891)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest expense on convertible senior secured notes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,723 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Net income (loss) (attributable to shareholders of the Company) used in calculating diluted earnings per share</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">409,631 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(629,891)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Basic weighted average number of common shares outstanding (in thousands)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,325,322 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,308,850 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Effect of dilutive securities:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Convertible senior unsecured notes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">144,996 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Stock options</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,992 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Restricted share units</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,025 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Performance share units</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,523 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Diluted weighted average number of common shares outstanding (in thousands)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,480,858 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,308,850 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Earnings (loss) per share (attributable to shareholders of the Company)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Basic</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.30 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">(0.48)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle">Diluted</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">0.28 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">(0.48)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

0.05 2000000

10000000

5000000

24000000

1340621856

0.02

107000000

3000000 1000000

0.04

211000000

25000000 9000000 0.02 2000000

14000000

4000000 20000000 3000000

10000000

3000000 15000000

66000000

3000000

20000000

1000000

4000000

3.85

6.19

P5Y P3Y 3000000

0.028

0.40

0.030

22000000

3.48

4.40

P5Y P3Y 11000000

0.038

0.38

0.062

5000000

1000000 1000000

<div style="padding-left:18pt;text-align:justify">A summary of changes to stock options outstanding is as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of outstanding options</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted- average exercise price</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">(‘000’s)</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">(in Cdn.$)</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,967 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.09 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Granted</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">22,064 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.71 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Exercised</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,247)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.39 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Forfeited or expired</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,579)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.01 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">50,205 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.53 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Granted</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,810 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.83 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Exercised</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(19,639)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.68 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Forfeited or expired</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,419)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.81 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31,957 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.46 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

30967000

5.09

22064000

3.71

1247000

3.39

1579000

5.01

50205000

4.53

3810000

4.83

19639000

4.68

2419000

4.81

31957000

4.46

20000000

1000000

6.51

4.09

<div style="padding-left:18pt;text-align:justify">Stock options outstanding and exercisable as at December 31, 2025, are as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:15.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.719%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Range of exercise prices (in Cdn. $)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of outstanding options (‘000’s)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted- average years to expiry</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted-average exercise price (in Cdn. $)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Number of exercisable options (‘000’s)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Weighted-average exercise price (in Cdn. $)</td></tr><tr style="height:12pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">2.95 – 2.99</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:right;vertical-align:top">1.39</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2.95 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2.95 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">3.00 – 3.99</div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">15,664 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top">4.11</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.69 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,933 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3.69 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">4.00 – 4.99</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,616 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:right;vertical-align:top">3.32</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.45 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,021 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.44 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">5.00 – 5.99</div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,743 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top">1.87</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.45 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,963 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5.46 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center">6.00 – 6.99</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,928 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:right;vertical-align:top">1.14</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6.24 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,617 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6.25 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31,957 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top">3.18</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.46 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">19,540 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4.65 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

2.95

2.99

6000

P1Y4M20D

2.95

6000

2.95

3.00

3.99

15664000

P4Y1M9D

3.69

7933000

3.69

4.00

4.99

5616000

P3Y3M25D

4.45

3021000

4.44

5.00

5.99

8743000

P1Y10M13D

5.45

6963000

5.46

6.00

6.99

1928000

P1Y1M20D

6.24

1617000

6.25

31957000

P3Y2M4D

4.46

19540000

4.65

3000000

2000000

P2Y P3Y 8000000 6000000

7000000

3322000

2382000

1625000

277000

4356000

2802000

2223000

26000

118000

5027000

500000

1000000 1000000 500000 100000 1800000 300000

2200000

6000000

100000

11000000

5000000

0 2

2000000

2 0.50 0.50 0 2 3000000 0 2 4000000 0.39 0.77 0.0275

3000000

2 0.50 0.50 0 2 3000000 0 2 3000000 0.26 0.66 0.0419 0.0452

1000000

7000000

6000000

8000000

401908000

-629891000

7723000

409631000

-629891000

1325322000

1308850000

144996000

4992000

2025000

3523000 0

1480858000

1308850000

0.30

-0.48

0.28

-0.48

Non-controlling interest<div style="padding-left:18pt">The following is a continuity schedule of the Company's non-controlling interests:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:30.168%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.991%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Fekola</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Masbate</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Otjikoto</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Finland</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">42,911 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">27,744 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">24,238 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">4,703 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">99,596 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Share of net (loss) income</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(7,387)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(1,672)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">12,478 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(181)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,238 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.75pt">Forgiveness of loan to non-controlling interest (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">65,476 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">65,476 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Distributions to non-controlling interests</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(106,826)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(15,743)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(122,569)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Interest on loan to non-controlling interest</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(2,381)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(2,381)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Participating funding from non-controlling interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">936 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">936 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">8,207 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">129 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">8,336 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Balance at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">26,072 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">20,973 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,587 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">52,632 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Share of net (loss) income</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(908)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">25,520 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">179 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">24,791 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Distributions to non-controlling interests</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(1,200)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(28,714)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(29,914)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">442 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">442 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">23,964 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">17,779 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">6,208 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">47,951 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:18pt"> </div><div style="padding-left:18pt">The following is the summarized financial information of subsidiaries with material non-controlling interests:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.029%"><tr><td style="width:1.0%"></td><td style="width:72.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.207%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.209%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Otjikoto</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Summarized Balance Sheets</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Current assets</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">97,817 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">102,335 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Non-current assets</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">181,336 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">222,834 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Total assets</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">279,153 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">325,169 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Current liabilities</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">68,782 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">43,131 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Non-current liabilities</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">50,541 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">85,229 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Total liabilities</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">119,323 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">128,360 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Summarized Statements of Operations</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Revenue</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">685,069 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">486,213 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Net income</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">259,061 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">126,889 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div>

<div style="padding-left:18pt">The following is a continuity schedule of the Company's non-controlling interests:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:30.168%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.461%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.991%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Fekola</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Masbate</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Otjikoto</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Finland</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">42,911 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">27,744 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">24,238 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">4,703 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">99,596 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Share of net (loss) income</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(7,387)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(1,672)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">12,478 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(181)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,238 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.75pt">Forgiveness of loan to non-controlling interest (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">65,476 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">65,476 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Distributions to non-controlling interests</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(106,826)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(15,743)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(122,569)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Interest on loan to non-controlling interest</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(2,381)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(2,381)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Participating funding from non-controlling interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">936 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">936 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">8,207 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">129 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">8,336 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Balance at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">26,072 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">20,973 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,587 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">52,632 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Share of net (loss) income</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(908)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">25,520 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">179 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">24,791 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Distributions to non-controlling interests</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(1,200)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(28,714)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(29,914)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">442 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">442 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">23,964 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">17,779 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">6,208 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">47,951 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:18pt"> </div><div style="padding-left:18pt">The following is the summarized financial information of subsidiaries with material non-controlling interests:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.029%"><tr><td style="width:1.0%"></td><td style="width:72.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.207%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.209%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Otjikoto</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">2024</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Summarized Balance Sheets</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Current assets</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">97,817 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">102,335 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Non-current assets</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">181,336 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">222,834 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Total assets</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">279,153 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">325,169 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Current liabilities</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">68,782 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">43,131 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Non-current liabilities</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">50,541 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">85,229 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Total liabilities</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">119,323 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">128,360 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Summarized Statements of Operations</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Revenue</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">685,069 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">486,213 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle">Net income</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">259,061 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">126,889 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div>

42911000

27744000

24238000

4703000

99596000

-7387000

-1672000

12478000

-181000

3238000

65476000 65476000 106826000 0 15743000 122569000 -2381000 -2381000 936000 936000 8207000 129000 8336000

26072000

20973000

5587000

52632000

-908000

25520000

179000

24791000

0 1200000 28714000 29914000 442000 442000

23964000

17779000

6208000

47951000

97817000

102335000

181336000

222834000

279153000

325169000

68782000

43131000

50541000

85229000

119323000

128360000

685069000

486213000

259061000

126889000

Other operating expense<div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-capital exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,203)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,029)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Loss on sale of assets</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(6,257)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,198)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Malian regulatory settlement (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,795)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,496 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,082)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(13,964)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(29,104)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

10203000

8029000

-6257000 -1198000 0 16795000 -2496000 3082000

-13964000

-29104000

Derivative financial instruments<div style="padding-left:18pt;text-align:justify">Fuel derivatives</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company entered into an additional series of forward contracts for the purchase of 42 million litres of gas oil and 73 million litres of fuel oil with scheduled settlement between May 2025 and October 2027. These derivative instruments were not designated as hedges by the Company and are recorded at FVTPL.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, the Company recorded an unrealized fuel derivative loss of $2 million (2024 – loss of $3 million) and a realized fuel derivative loss of $2 million (2024 - loss of $0 million) was recorded as part of Losses on derivative instruments in the Consolidated Statement of Operations.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The following is a summary, by maturity dates, of the Company’s fuel derivative contracts outstanding as at December 31, 2025:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:45.263%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Forward – fuel oil:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Litres (thousands)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">35,777 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,483 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">50,260 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Average strike price</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.40 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.37 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.39 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Forward – gas oil:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Litres (thousands)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">47,013 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">21,003 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">68,016 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Average strike price</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.53 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.52 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.53 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The unrealized fair value of these contracts at December 31, 2025 was $(4) million (2024 - $(2) million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Gold derivatives</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2024, as a requirement of the new RCF (Note 12), the Company entered into a series of 1:1 zero-cost put/call gold collar contracts with settlement between February 2025 and January 2027. These derivative instruments were not designated as hedges by the Company and are recorded at FVTPL.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">For the year ended December 31, 2025, the Company recorded an unrealized loss of $234 million (2024 - $0 million) on the Company's gold collar contracts and a realized loss of $37 million (2024 - $0 million).</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The following is a summary, by maturity dates, of the Company’s gold derivative contracts outstanding as at December 31, 2025:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:45.263%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Ounces</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">200,006 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">16,637 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">216,643 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Average floor price</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">2,450 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">2,450 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">2,450 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Average ceiling price</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">3,294 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">3,294 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">3,294 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The unrealized fair value of these contracts at December 31, 2025 was $(234) million (2024 - $0 million).</div>

42000000 73000000

-2000000

-3000000

-2000000 0

<div style="padding-left:18pt;text-align:justify">The following is a summary, by maturity dates, of the Company’s fuel derivative contracts outstanding as at December 31, 2025:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:45.263%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Forward – fuel oil:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Litres (thousands)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">35,777 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,483 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">50,260 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Average strike price</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.40 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.37 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.39 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Forward – gas oil:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Litres (thousands)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">47,013 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">21,003 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">68,016 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Average strike price</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.53 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.52 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">0.53 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

35777000 14483000 50260000 0.40 0.37 0.39 47013000 21003000 68016000 0.53 0.52 0.53

4000000

2000000

-234000000

-37000000 0 <div style="padding-left:18pt;text-align:justify">The following is a summary, by maturity dates, of the Company’s gold derivative contracts outstanding as at December 31, 2025:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:45.263%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Ounces</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">200,006 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">16,637 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">216,643 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Average floor price</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">2,450 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">2,450 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:top">2,450 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Average ceiling price</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">3,294 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">3,294 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#e6efff;padding:2px 0;text-align:right;vertical-align:top">3,294 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 200006000 16637000 216643000 2450 2450 2450 3294 3294 3294

234000000

Gold stream obligation<div style="padding-left:18pt;text-align:justify">As part of the acquisition of Sabina Gold and Silver Corp ("Sabina") in 2023, the Company acquired gold Stream Arrangement (the "Stream") with Wheaton Precious Metals ("WPM"). WPM is obligated to pay the Company a purchase price for each ounce of refined gold metal equal to: </div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•During any period during which the remaining upfront funding initially received by Sabina from WPM is greater than nil, 18% of the p.m. London Bullion Market Association ("LBMA") Gold Price. The difference between the LBMA gold price and such purchase price being payable is deducted against the upfront funding until it has been reduced to nil.</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•Once the remaining upfront funding has fully been reduced to nil, 22% of the p.m. LBMA Gold Price.</div><div style="padding-left:18pt;text-align:justify">The quantity of gold deliverable to WPM under the Gold Stream follows:</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•2.7805% of gold production up to delivery of 87,100 oz</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•1.4405% of gold production up to an aggregate of 134,000 oz</div><div style="padding-left:54pt;text-align:justify;text-indent:-18pt">•1.005% of gold production thereafter.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The gold stream obligation was determined to be a derivative liability under IFRS 9, Financial instruments, and has been classified as FVTPL. As a result, it has been recorded at its fair value on the Consolidated Balance Sheet with changes in the fair value being recorded in the Consolidated Statement of Operations. The fair value of the gold stream was determined to be level 3 in the fair value hierarchy (Note 20). The Company has guaranteed the remaining portion of the gold stream obligation.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company delivered 632 ounces (2024 - 0 ounces) into the gold stream obligation. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The following is a summary of the changes in the gold stream obligation:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:81.048%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.088%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Balance at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">139,600 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in fair value</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,825 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Balance at December 31, 2024</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">166,425 </td><td style="background-color:#e6efff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in fair value</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">118,364 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Gold delivered</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,058)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Balance at December 31, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">282,731 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Less current portion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(24,500)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">258,231 </td><td style="background-color:#ffffff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

0.18 0.22 0.027805 87100 0.014405 134000 0.01005 632 0

139600000

26825000

166425000

118364000

2058000

282731000

24500000

258231000

Prepaid gold sales<div style="padding-left:18pt;text-align:justify">On January 23, 2024, the Company entered into a series of prepaid gold sales with a number of its old RCF syndicate banks. Under the terms of the prepaid gold sales, the Company received an upfront payment of $500 million, based on gold forward curve prices averaging approximately $2,191 per ounce, in exchange for equal monthly deliveries of gold from July 2025 to June 2026 totaling 264,768 ounces. Gold deliveries can be from production from any of the Company’s operating mines and the prepaid gold sales can be settled prior to maturity through accelerated delivery of the remaining deliverable gold ounces.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The prepaid gold sales have been accounted for in accordance with IFRS 15, Revenue from Contracts with Customers, whereby the cash prepayments have been recognized as deferred revenue on the Consolidated Balance Sheet and will be recognized as revenue in the Consolidated Statement of Operations based on the contract price when gold deliveries are made.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company delivered 132,384 ounces into contracts valued at $289 million. As the Company physically delivered ounces into the contracts, the portion of the Prepaid Sales relating to the delivered ounces was recognized as gold revenue in the Consolidated Statement of Operations at the time of delivery based on the contract price.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The following is a summary of the changes in the prepaid gold sales:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:81.048%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.088%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Outstanding at December 31, 2023</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Value of contracts added</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">500,023 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Accretion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">38,087 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:top">Outstanding at December 31, 2024</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">538,110 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Gold deliveries</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(288,792)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Accretion</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">36,140 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding at December 31, 2025</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">285,458 </td><td style="background-color:#e6efff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company recognized interest charge of $36 million (2024 - $38 million), based on an implicit rate of 7.99%, relating to the financing component contained in the prepaid gold sales. The interest expense recognised in the Consolidated Statement of Operations for the year ended December 31, 2025 was $7 million (2024 - $14 million ) net of $29 million (2024 - $24 million) capitalized to the cost of constructing qualifying assets during the year.</div>

500000000

2191

264768 132384

289000000

500023000 38087000

538110000

288792000

36140000

285458000

36000000 38000000 0.0799

7000000

14000000

29000000 24000000

Financial instruments<div style="padding-left:18pt;text-align:justify">The Company’s financial assets and liabilities consist of cash and cash equivalents, accounts receivable, short-term investments, reclamation deposits, loan to associate, long-term investments, accounts payable and accrued liabilities, fuel derivative contracts, gold derivative contracts, gold stream obligation, and long-term debt.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Fair values</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s financial assets and liabilities are classified based on the lowest level of input significant to the fair value measurement based on the fair value hierarchy:</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:36pt;text-align:justify">Level 1 – quoted prices in active markets for identical assets or liabilities;</div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:36pt;text-align:justify">Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:36pt;text-align:justify">Level 3 – inputs for the asset or liability that are not based on observable market data.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company’s financial assets and liabilities measured at fair value are categorized as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:27.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.059%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:right;vertical-align:top">As at December 31, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:right;vertical-align:top">As at December 31, 2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 1</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 2</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 3</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 1</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 2</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 3</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Long-term investments (Note 8)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">286,066 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">76,717 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Short-term investments (Note 6)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,868 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,565 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Gold derivative contracts (Note 17)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(233,821)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">111 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Fuel derivative contracts (Note 17)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,415)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,259)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Gold stream obligation (Note 18)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(282,731)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(166,425)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s long-term investments consist of shares of publicly traded mining companies. The fair values of these were determined using market quotes from an active market for each investment.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The fair value of the Company's fuel and gold derivative contracts was determined using prevailing market rates for instruments with similar characteristics.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The fair value of the gold stream was calculated based on an income approach and a discounted cash flow model. The calculated fair value includes inputs that are based on observable market data, including forward gold price curves and credit adjusted risk-free rates. The fair value also includes inputs that are not based on observable market data, including the timing of future gold deliveries. The valuation has been prepared by an independent valuations specialist with direct oversight from the Company. Forward gold price estimates ranged from $4,314 to $5,685 per ounce. A $100 per ounce change in the gold forward price would have approximately a $6 million impact on the fair value of the gold stream obligation. A 50 basis point change in the discount rate would also have approximately a $8 million impact on the fair value of the gold stream obligation.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The fair value of the Notes, based on quoted market prices, is $736 million. The carrying amount of the Notes represents the liability component recorded at amortized costs (Note 12), while the fair value represents both the liability and equity components. The fair value of the Notes is categorized as level 1 in the fair value hierarchy outlined in IFRS 13 Fair value measurement. </div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The fair value of the Company's long-term debt also approximates its carrying value as it has a floating interest rate and the Company's credit spread has remained approximately consistent. The fair value of the Company's other financial instruments approximate their carrying value due to their short-term nature.</div><div style="padding-left:18pt;text-align:justify">Capital risk management</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s objectives when managing its capital is to ensure it will be able to continue as a going concern while maximizing the return to shareholders including the payment of dividends. The selling price of gold and minimizing production costs and capital expenditures are key factors in helping the Company reach its capital risk management objectives. The capital structure of the Company includes shareholders’ equity and debt.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Credit risk</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company’s maximum exposure to credit risk was the book value of cash and cash equivalents, receivables, loans receivable and the carrying value of its derivative portfolio. The Company limits its credit exposure on cash and cash equivalents by holding its deposits mainly with high credit quality financial institutions as determined by credit rating agencies.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company maintains its excess cash balances in short-term investments accounts. The Company does not maintain insurance for its cash balances.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Liquidity risk</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company manages its liquidity risk through its budgeting and forecasting process. Budgets are prepared annually and forecasts are prepared and reviewed on a regular basis, to help determine the funding requirements to support the Company’s current operations and expansion and development plans and by managing its capital structure as described above.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company had cash and cash equivalents of $380 million. Cash provided by operating activities totalled $896 million for the year ended December 31, 2025. As at December 31, 2025, the Company had a $800 million revolving credit facility of which $650 million is undrawn.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company had $6 million available under its third equipment facility at Fekola.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company’s significant commitments are disclosed in the table below. In addition, significant commitments are disclosed in Note 12 for debt repayments and Note 26 for capital expenditure commitments.</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:38.174%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.026%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2028</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2029</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2030</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Accounts payable and accrued liabilities</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">174,802 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">174,802 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Convertible notes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt">Principal (Note 12)</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Interest</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,325 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,925 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Revolving credit facility:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Principal (Note 12)</div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest & commitment fees (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,083 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,923 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola equipment loan facilities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,815 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26,320 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,355 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">897 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">441 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,731 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Goose equipment loan facility:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Lease liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,718 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,177 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,085 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,608 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,404 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,992 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">224,499 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,979 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">187,094 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,111 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">468,729 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">941,412 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditure commitments</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,084 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,084 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other liabilities</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,767 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,922 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,441 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,116 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,932 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,178 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">274,350 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">47,901 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">188,535 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">24,227 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">472,661 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,007,674 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">Market risk</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Market risk includes currency and price risk.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s operations in foreign countries are subject to currency fluctuations and such fluctuations may materially affect the Company’s financial position and results. The Company reports its financial results in United States dollars and incurs expenses in European euros, CFA francs, Namibian dollars, South African rand, Philippine pesos, Canadian dollars and Colombian pesos. As these exchange rates fluctuate against the United States dollar, the Company will experience foreign exchange gains and losses.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company also holds cash and cash equivalents that are denominated in non-United States dollar currencies which are subject to currency risk. As at December 31, 2025, $291 million of the Company’s $380 million in cash and cash equivalents was held in United States dollars. A 10% movement in foreign exchange rates versus the United States dollar would result in approximately a $8 million change in the Company’s cash position.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company holds long‑term investments in publicly traded mining companies and is exposed to fluctuations in the market prices of these securities. Changes in equity prices may result from commodity‑price movements, market sentiment, operational developments of the investee companies, and broader economic conditions. These investments are measured at FVOCI and classified as Level 1 in the fair value hierarchy. A 10% change in the quoted market prices of these investments at the reporting date would result in a corresponding change in fair value of approximately $28 million.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company maintains a portfolio of fuel and gold derivatives that are measured at FVTPL. A 10% change in the forward price of fuel would result in a $5 million change in the value of the fuel derivative portfolio. A $100 per ounce change in the forward price of gold would result in a $20 million change in the value of the gold derivative portfolio excluding the impact on the Company's gold stream obligation (Note 18).</div>

<div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company’s financial assets and liabilities measured at fair value are categorized as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:27.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.059%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:right;vertical-align:top">As at December 31, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:right;vertical-align:top">As at December 31, 2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 1</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 2</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 3</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 1</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 2</td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top">Level 3</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Long-term investments (Note 8)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">286,066 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">76,717 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Short-term investments (Note 6)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,868 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,565 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Gold derivative contracts (Note 17)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(233,821)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">111 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Fuel derivative contracts (Note 17)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,415)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,259)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Gold stream obligation (Note 18)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(282,731)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(166,425)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div>

286066000

76717000

4868000

11565000

233821000

111000

4415000

2259000

282731000

166425000

4314

5685

100 6000000 0.0050 8000000

736000000

380000000

896000000

800000000

650000000

6000000

<div style="padding-left:18pt;text-align:justify">As at December 31, 2025, the Company’s significant commitments are disclosed in the table below. In addition, significant commitments are disclosed in Note 12 for debt repayments and Note 26 for capital expenditure commitments.</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:38.174%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.026%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2026</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2027</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2028</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2029</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2030</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Accounts payable and accrued liabilities</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">174,802 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">174,802 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Convertible notes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt">Principal (Note 12)</div></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">460,000 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top">Interest</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,325 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,925 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Revolving credit facility:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt">Principal (Note 12)</div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest & commitment fees (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,420 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,083 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,923 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola equipment loan facilities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,835 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,815 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">26,320 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,355 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">897 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">441 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,731 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Goose equipment loan facility:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">698 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Interest (estimated)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Lease liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Principal</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,718 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,177 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,085 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,608 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,404 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,992 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">224,499 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,979 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">187,094 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,111 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">468,729 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">941,412 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Capital expenditure commitments</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,084 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,084 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other liabilities</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,767 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,922 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,441 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,116 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,932 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,178 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">274,350 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">47,901 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">188,535 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">24,227 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">472,661 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,007,674 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

174802000

460000000

12650000 12650000 12650000 12650000 6325000 56925000

150000000

9420000 9420000 9083000 0 0 27923000

7835000

2815000

26320000

1355000 897000 441000 38000 0 2731000

698000

21000 0 0 0 0 21000

17718000

12177000

7085000

2608000

2404000

41992000

224499000

42979000

187094000

18111000

468729000

941412000

39084000

10767000

4922000

1441000

6116000

3932000

27178000

274350000

47901000

188535000

24227000

472661000

1007674000

291000000

380000000

0.10 8000000 0.10 28000000 0.10 5000000 100 20000000

Income and other taxes<div style="padding-left:18pt">Income tax expense differs from the amount that would result from applying the Canadian federal and provincial income tax rates to earnings from operations before taxes. These differences result from the following items:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Income (loss) from operations before taxes</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">976,799 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(309,224)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Canadian federal and provincial income tax rates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">27.00 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top">%</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">27.00 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top">%</td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Income tax expense at statutory rates</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">263,736 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(83,490)</td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Increase (decrease) attributable to:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Losses and tax bases for which no tax benefit has been recorded</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">130,186 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,479 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Effects of different foreign statutory tax rates</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">136,558 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">40,141 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Withholding and other taxes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">118,526 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">29,423 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change due to foreign exchange</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(63,457)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">29,894 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Benefit of optional tax incentives</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(41,382)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(21,625)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Non-deductible expenditures</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31,340 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,340 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Use of losses and temporary differences not previously recognised</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(45,548)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Future withholding tax expense (recovery)</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,117 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,699)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in income tax rates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,884)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.75pt">Change in accruals for tax audits and settlement of income tax and customs assessments (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,279 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">67,352 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in non-taxable portions of gains</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(963)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">807 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Amounts under provided for in prior years</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">708 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,193 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Benefit not recorded on impairment losses</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">227,498 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Income tax expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">550,100 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">317,429 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Current income tax, withholding and other taxes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">694,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">319,726 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred income tax recovery</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Income tax expense</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">550,100 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">317,429 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Included in current income tax expense for the year ended December 31, 2025, is $117 million (2024 - $26 million), related to the State of Mali's 20% priority dividend on its free carried interest in the Fekola Mine. This priority dividend is accounted for as an income tax in accordance with IAS 12, Income Taxes.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Total provision for tax disputes recognized are as follows:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Opening balance</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,799 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Additions</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,594 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Reductions</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,799)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Closing balance</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,594 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025, the Company recorded a deferred tax expense of $14 million (2024 - recovery of $3 million) related to future withholding tax expected to be incurred on retained earnings the Company is planning to repatriate from its foreign subsidiaries in the foreseeable future. The Company's foreign subsidiaries continue to have earnings in excess of their expected needs for reinvestment. The deferred tax expense will eventually be a current tax expense as dividends from foreign subsidiaries and the associated withholding taxes are paid.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Deferred tax liabilities of approximately $119 million (2024 – $134 million) have not been recognized on the repatriation of earnings from foreign subsidiaries where the Company controls the timing of the reversal of the temporary differences but it is probable that such differences will not reverse in the foreseeable future. </div><div style="padding-left:18pt;text-align:justify">Total income tax expense (recovery) attributable to geographical jurisdiction is as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Mali</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">310,390 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">176,094 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Namibia</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">157,007 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">85,828 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Philippines</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">112,566 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">55,838 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Canada</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(29,249)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(713)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(614)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">382 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">550,100 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">317,429 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt"> </div><div style="padding-left:18pt;text-align:justify">The composition of the Company’s net deferred income tax (liabilities) assets and deferred tax expense (recovery) is as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:39.774%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.022%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.022%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.022%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.024%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle">Deferred tax (liabilities)/assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle">Deferred income tax expense/(recovery)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">As at December 31, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">As at December 31, 2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Operating loss carry-forwards</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">84,196 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,033 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(82,163)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,280 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Current assets and liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">38,233 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(5,304)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(43,537)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,862 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Mining interests</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(120,060)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(150,161)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(30,101)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,245)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Mine restoration provisions</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">17,234 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">15,413 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,821)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(909)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Long term debt</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(20,490)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,490 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Future withholding tax</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(49,966)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(35,849)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,117 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,699)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Unrealized gains</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(24,050)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,050 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,127)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax charged to equity</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(49,715)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(856)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,130 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,130 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,397 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(74,903)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(169,738)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Represented on the balance sheet as:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax asset</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(76,440)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax liability</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">151,343 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, end of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,903 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has the following unrecognized deferred tax assets:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Capital and non-capital tax losses</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">254,045 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">175,765 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Gold stream and derivative financial instruments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">106,370 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Mining interests and other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">68,239 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">153,892 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Mine restoration provisions</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">18,057 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,423 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other liabilities</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,692 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,401 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Current assets</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,100 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">868 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">457,503 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">343,349 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company has not recognized potential deferred tax assets of $458 million (2024 - $343 million) as it is not probable that future taxable profits will be available against which the Company can utilize the potential deferred tax assets.</div><div style="padding-left:18pt;text-align:justify">The change for the year in the Company’s net deferred tax liability was as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, beginning of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">171,179 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred income tax recovery charged to statement of operations</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred income tax liability charged to equity</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,943 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred income tax expense charged to equity</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,772 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">856 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, end of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,903 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt"> </div><div style="padding-left:18pt;text-align:justify">At December 31, 2025, the Company had non-capital tax losses which are not recognized as deferred tax assets. The Company recognizes the tax benefit of the non-capital tax losses only to the extent of anticipated future taxable income that can be reduced by non-capital tax losses. The gross amount of the non-capital tax losses for which a tax benefit has not been recorded are $1,159 million (2024 - $577 million) in Canada which expire between 2027 and 2045, and $102 million (2024 - $110 million) in Colombia of which $101 million does not expire.</div><div style="text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">At December 31, 2025 the Company had capital losses in Canada of $9 million which have no expiry date and can be applied against future capital gains. No deferred income tax asset has been recorded with respect to these losses. On March 4, 2024, the Company received Notices of Reassessment relating to the denial of capital losses realized by B2Gold in respect of certain internal reorganizations undertaken in the 2016 taxation year. The reassessments do not result in any income taxes payable but would reduce the Company's net capital loss carry-forward balances and non-capital loss carry-forward balances (due to the deduction of a portion of the capital losses in subsequent taxation years). The Company has disputed the reassessments. Should the Company be successful in its dispute, non-capital losses would increase by $71 million and capital losses would increase by $295 million for which no deferred tax asset has been recognized as at December 31, 2025.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">During the year ended December 31, 2025 the Company paid $502 million (2024 - $360 million) of current income tax, withholding and other taxes in cash.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Pillar Two Global Minimum Tax</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">In June 2024, Canada enacted the Global Minimum Tax Act that was developed within the framework of the OECD’s Pillar Two global minimum tax regime, effective January 1, 2024. As Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions in which the Company operates, the legislation is effective for the Company's financial year beginning January 1, 2024.</div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Beginning January 1, 2024, the Company performs an assessment on a quarterly basis of its potential exposure to Pillar Two income taxes. This assessment is based on the most recent information available regarding the financial performance of the constituent entities of the consolidated group. Based on the assessment performed to date, the Company has not accrued any Pillar Two top-up taxes for the years ended December 31, 2024 and December 31, 2025.</div>

These differences result from the following items:<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Income (loss) from operations before taxes</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">976,799 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(309,224)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Canadian federal and provincial income tax rates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">27.00 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top">%</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">27.00 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top">%</td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Income tax expense at statutory rates</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">263,736 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(83,490)</td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Increase (decrease) attributable to:</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Losses and tax bases for which no tax benefit has been recorded</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">130,186 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,479 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Effects of different foreign statutory tax rates</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">136,558 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">40,141 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Withholding and other taxes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">118,526 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">29,423 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change due to foreign exchange</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(63,457)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">29,894 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Benefit of optional tax incentives</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(41,382)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(21,625)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Non-deductible expenditures</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31,340 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,340 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Use of losses and temporary differences not previously recognised</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(45,548)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Future withholding tax expense (recovery)</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,117 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,699)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in income tax rates</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,000 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,884)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.75pt">Change in accruals for tax audits and settlement of income tax and customs assessments (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,279 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">67,352 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Change in non-taxable portions of gains</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(963)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">807 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Amounts under provided for in prior years</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">708 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,193 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Benefit not recorded on impairment losses</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">227,498 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Income tax expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">550,100 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">317,429 </td><td style="background-color:#e6efff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Current income tax, withholding and other taxes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">694,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">319,726 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred income tax recovery</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Income tax expense</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">550,100 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">317,429 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

976799000

-309224000

0.2700

263736000

-83490000

130186000 26479000

136558000

40141000

118526000 29423000 -63457000 29894000 41382000 21625000

31340000

11340000

45548000 0 14117000 -2699000

4000000

-8884000

2279000 67352000 963000 -807000

708000

1193000

0 227498000

550100000

317429000

694650000

319726000

-144550000

-2297000

550100000

317429000

117000000 26000000 0.20 <div style="padding-left:18pt;text-align:justify">Total provision for tax disputes recognized are as follows:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Opening balance</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">10,799 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Additions</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,594 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Reductions</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,799)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Closing balance</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,594 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 0 10799000 1594000 0 0 10799000 1594000 0 14000000 -3000000 119000000 134000000 <div style="padding-left:18pt;text-align:justify">Total income tax expense (recovery) attributable to geographical jurisdiction is as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Mali</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">310,390 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">176,094 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Namibia</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">157,007 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">85,828 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Philippines</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">112,566 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">55,838 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Canada</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(29,249)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(713)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(614)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">382 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">550,100 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">317,429 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

310390000

176094000

157007000

85828000

112566000

55838000

-29249000

-713000

-614000

382000

550100000

317429000

<div style="padding-left:18pt;text-align:justify">The composition of the Company’s net deferred income tax (liabilities) assets and deferred tax expense (recovery) is as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:39.774%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.022%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.022%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.022%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.024%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle">Deferred tax (liabilities)/assets</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle">Deferred income tax expense/(recovery)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">As at December 31, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">As at December 31, 2024</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Operating loss carry-forwards</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">84,196 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,033 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(82,163)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,280 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Current assets and liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">38,233 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(5,304)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(43,537)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,862 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Mining interests</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(120,060)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(150,161)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(30,101)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,245)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Mine restoration provisions</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">17,234 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">15,413 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,821)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(909)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Long term debt</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(20,490)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,490 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Future withholding tax</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(49,966)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(35,849)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">14,117 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,699)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Unrealized gains</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(24,050)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,050 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,127)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax charged to equity</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(49,715)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(856)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,130 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,130 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,397 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(74,903)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(169,738)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Represented on the balance sheet as:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax asset</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(76,440)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Deferred tax liability</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">151,343 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, end of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,903 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">The change for the year in the Company’s net deferred tax liability was as follows:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, beginning of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">171,179 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred income tax recovery charged to statement of operations</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred income tax liability charged to equity</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,943 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Deferred income tax expense charged to equity</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,772 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">856 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Balance, end of year</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,903 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">169,738 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

-84196000

-2033000

-82163000

7280000

-38233000

5304000

-43537000

3862000

120060000

150161000

-30101000

-2245000

-17234000

-15413000

-1821000

-909000

20490000

49966000

35849000

14117000

-2699000

24050000

-10127000

-49715000

-856000

-4130000

4130000

3397000

74903000

169738000

-144550000

-2297000

76440000

151343000

169738000

74903000

169738000

254045000

175765000

106370000

68239000

153892000

18057000

10423000

8692000

2401000

2100000

868000

457503000

343349000

458000000

343000000

169738000

171179000

-144550000

-2297000

24943000 0 24772000 856000

74903000

169738000

1159000000

577000000

102000000

110000000

101000000

9000000

71000000

295000000

502000000

360000000

Supplementary cash flow information<div style="padding-left:18pt">Supplementary disclosure of cash flow information is provided in the table below:</div><div style="padding-left:36pt"> </div><div style="padding-left:18pt">Non-cash (credits) charges:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and depletion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">440,831 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">367,408 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Unrealized losses on derivative instruments (Note 17)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">236,087 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,630 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Deferred income tax recovery (Note 21)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Change in fair value of gold stream (Note 18)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">118,364 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,825 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-cash interest and financing expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,702 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">34,848 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Add back of realized loss on derivative instruments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">36,846 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Share-based payments (Note 14)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">22,935 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,343 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-recoverable input taxes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">12,516 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,684 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-cash community relations expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,291 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Loss on sale of fixed assets (Note 16)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,257 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,198 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Write-down of mining interests (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">636 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Impairment of long-lived assets (Note 9)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">876,376 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Gain on sale of mining interests (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(56,115)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Gain on sale of shares in associate (Note 10)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,822)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Loss on dilution of associate (Note 10)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,984 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,285 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,406 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">805,682 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,289,104 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:36pt"> </div><div style="padding-left:18pt;text-align:justify">Changes in non-cash working capital:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Receivables, prepaids and other </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(12,675)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(215)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Value-added and other tax receivables</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,373)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,204)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Inventories</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(83,633)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(130,339)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Accounts payable and accrued liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">69,042 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,237)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Current income and other taxes payable</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">219,525 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(21,184)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">189,886 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(155,179)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:36pt"> </div><div style="padding-left:18pt;text-align:justify">Other exploration:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola Mine, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(609)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,428)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Masbate Mine, exploration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,639)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,649)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Otjikoto Mine, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,133)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(7,825)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Goose Mine, exploration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(24,635)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(28,864)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Back River Regional, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,685)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(439)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Finland Properties, exploration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,472)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,079)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola Regional, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,319)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,428)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,187)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,917)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(50,679)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(52,629)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">Non-cash investing and financing activities:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Interest capitalized to construction of qualifying assets</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,989 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,008 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Change in current liabilities relating to mining interest expenditures</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(50,717)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,625)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Change in current liabilities relating to deferred financing costs</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,059)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,059 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Foreign exchange (losses) gains on Fekola equipment loan facility</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,691)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">545 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Share-based payments, capitalized to mining interests</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,392 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,129 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Interest on loan to non-controlling interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,801 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Share consideration received on sale of mining interests (Notes 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">81,433 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

<div style="padding-left:18pt">Supplementary disclosure of cash flow information is provided in the table below:</div><div style="padding-left:36pt"> </div><div style="padding-left:18pt">Non-cash (credits) charges:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Depreciation and depletion</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">440,831 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">367,408 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Unrealized losses on derivative instruments (Note 17)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">236,087 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,630 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Deferred income tax recovery (Note 21)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(144,550)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,297)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Change in fair value of gold stream (Note 18)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">118,364 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,825 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-cash interest and financing expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,702 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">34,848 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Add back of realized loss on derivative instruments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">36,846 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Share-based payments (Note 14)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">22,935 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">24,343 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-recoverable input taxes</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">12,516 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">9,684 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom">Non-cash community relations expense</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">7,291 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Loss on sale of fixed assets (Note 16)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,257 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,198 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Write-down of mining interests (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">636 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Impairment of long-lived assets (Note 9)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">876,376 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Gain on sale of mining interests (Note 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(56,115)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Gain on sale of shares in associate (Note 10)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,822)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Loss on dilution of associate (Note 10)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">8,984 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">26,285 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,406 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">805,682 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,289,104 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:36pt"> </div><div style="padding-left:18pt;text-align:justify">Changes in non-cash working capital:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Receivables, prepaids and other </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(12,675)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(215)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Value-added and other tax receivables</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,373)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,204)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Inventories</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(83,633)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(130,339)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Accounts payable and accrued liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">69,042 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,237)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Current income and other taxes payable</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">219,525 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(21,184)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">189,886 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(155,179)</td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:36pt"> </div><div style="padding-left:18pt;text-align:justify">Other exploration:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola Mine, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(609)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,428)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Masbate Mine, exploration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,639)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,649)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Otjikoto Mine, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,133)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(7,825)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Goose Mine, exploration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(24,635)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(28,864)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Back River Regional, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(10,685)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(439)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Finland Properties, exploration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,472)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(3,079)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Fekola Regional, exploration</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,319)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,428)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,187)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(1,917)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(50,679)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(52,629)</td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:18pt;text-align:justify">Non-cash investing and financing activities:</div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Interest capitalized to construction of qualifying assets</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">54,989 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">30,008 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Change in current liabilities relating to mining interest expenditures</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(50,717)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(8,625)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Change in current liabilities relating to deferred financing costs</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(4,059)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,059 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Foreign exchange (losses) gains on Fekola equipment loan facility</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(2,691)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">545 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Share-based payments, capitalized to mining interests</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,392 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,129 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Interest on loan to non-controlling interest</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,801 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Share consideration received on sale of mining interests (Notes 9)</div></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">81,433 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

440831000

367408000

-236087000

-2630000

-144550000

-2297000

-118364000 -26825000

37702000

34848000

36846000 0

22935000

24343000

12516000 9684000 7291000 0 -6257000 -1198000

5118000

636000

876376000

56115000

0 16822000 0 -8984000

26285000

11406000

805682000

1289104000

-12675000 -215000 -2373000 -2204000

-83633000

-130339000

69042000

-1237000

219525000 -21184000

-189886000

155179000

609000 4428000 2639000 3649000 8133000 7825000 24635000 28864000 10685000 439000 1472000 3079000 1319000 2428000 1187000 1917000 50679000 52629000

54989000

30008000

-50717000 -8625000 -4059000 4059000

-2691000

545000

1392000 1129000 0 2801000 0 81433000

Compensation of key management<div style="padding-left:18pt;text-align:justify">Key management includes the Company’s directors, members of the Executive Committee and members of Senior Management. Compensation to key management consisted of:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Salaries and short-term employee benefits</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,926 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,357 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Share-based payments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,816 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,793 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">17,742 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,150 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

<div style="padding-left:18pt;text-align:justify">Key management includes the Company’s directors, members of the Executive Committee and members of Senior Management. Compensation to key management consisted of:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Salaries and short-term employee benefits</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,926 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,357 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Share-based payments</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">11,816 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">13,793 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">17,742 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">20,150 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

5926000

6357000

11816000

13793000

17742000

20150000

Production costs by nature<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Raw materials and consumables</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">519,075 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">491,855 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Salaries and employee benefits</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">168,805 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">134,938 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Contractors</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">142,619 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">92,225 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">79,171 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">51,756 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Change in inventories</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,532)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,444 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Capitalized to mining interests</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(147,692)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(93,390)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">745,446 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">681,828 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">Salaries and employee benefits expense included in general and administrative costs were $30 million for the year ended December 31, 2025 (2024 - $29 million).</div>

<div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Raw materials and consumables</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">519,075 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">491,855 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Salaries and employee benefits</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">168,805 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">134,938 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Contractors</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">142,619 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">92,225 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">79,171 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">51,756 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top">Change in inventories</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(16,532)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,444 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Capitalized to mining interests</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(147,692)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(93,390)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">745,446 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">681,828 </td><td style="background-color:#e6efff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

519075000

491855000

168805000

134938000

142619000 92225000

79171000

51756000

-16532000 4444000 147692000 93390000 745446000 681828000

30000000

29000000

Segmented information<div style="padding-left:18pt;text-align:justify">The Company’s reportable operating segments for 2025 include its mining operations and development projects, namely the Fekola, Masbate, Otjikoto and the Goose mines. It also includes the Fekola Regional properties which are in the exploration & evaluation stage. The Fekola Regional segment includes the Anaconda Area (the combined Menankoto permit) and the Dandoko permit. The Other Mineral Properties segment consists of the Company’s interests in mineral properties which are at various stages of exploration and evaluation, including the Company's interest in the Gramalote Project, as well as the Company's equity accounting for its investment in associates. The “Corporate and Other” segment includes corporate operations.</div><div style="padding-left:18pt;text-align:justify">The Company’s segments are summarized in the following tables:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:26.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"> </td><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:top">2025</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Regional</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Masbate Mine </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Otjikoto Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Goose Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Other Mineral Properties</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right">Corporate </div><div style="text-align:right">& Other </div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">External gold revenue</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,743,698 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">402,761 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">623,477 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,510 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">288,792 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,061,238 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Intersegment gold revenue</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">284,490 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">61,592 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">163,141 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(509,223)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Production costs</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">408,105 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">162,484 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">130,327 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">44,530 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">745,446 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Depreciation & depletion</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">217,269 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">531 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">92,797 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">110,747 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">19,487 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,281 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">443,112 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Write-down of mining interests</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Current income tax, withholding and other taxes</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">380,470 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,609 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">117,886 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">194,685 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">694,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Net income (loss)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">490,309 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(4,286)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">264,230 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">247,238 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">80,037 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(7,971)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(642,858)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">426,699 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Capital expenditures</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">223,279 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">22,180 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">43,896 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">32,137 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">496,088 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">45,248 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">241 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">863,069 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Total assets</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,532,603 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">211,893 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">734,576 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">310,808 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,286,395 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">381,917 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">421,124 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,879,316 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:26.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"> </td><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Regional</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Masbate Mine </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Otjikoto Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Goose Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Other Mineral Properties</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right">Corporate & Other </div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">External gold revenue</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">951,676 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">464,141 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">486,213 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,902,030 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Production costs</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">384,221 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">161,462 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">136,145 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">681,828 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Depreciation & depletion</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">162,011 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,986 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">83,352 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">116,289 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,770 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,153 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">369,561 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Impairment of long-lived assets</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">162,673 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">52,543 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">661,160 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">876,376 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Write-down of mining interests</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">636 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">636 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Current income tax, withholding and other taxes</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">154,415 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">46 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">55,840 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">109,282 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">48 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">95 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">319,726 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Net (loss) income</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(76,859)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(68,728)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">112,930 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">122,454 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(663,781)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(1,827)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(50,842)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(626,653)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Capital expenditures</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">262,204 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">19,289 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">33,412 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">36,667 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">544,255 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">22,568 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,308 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">919,703 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Total assets</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,368,733 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">187,484 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">769,617 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">355,551 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,607,392 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">328,717 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">196,504 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">4,813,998 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s mining interests are located in the following geographical locations:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Mining interests</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Canada</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,950,116 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,445,143 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Mali</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,105,803 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,066,748 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Philippines</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">431,312 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">480,570 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Namibia</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">128,392 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">182,758 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Colombia</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">106,703 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,875 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Finland</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,505 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">36,033 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">506 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,308 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,760,337 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,291,435 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

<div style="padding-left:18pt;text-align:justify">The Company’s segments are summarized in the following tables:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:26.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"> </td><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:top">2025</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Regional</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Masbate Mine </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Otjikoto Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Goose Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Other Mineral Properties</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right">Corporate </div><div style="text-align:right">& Other </div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">External gold revenue</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,743,698 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">402,761 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">623,477 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,510 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">288,792 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,061,238 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Intersegment gold revenue</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">284,490 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">61,592 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">163,141 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(509,223)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Production costs</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">408,105 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">162,484 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">130,327 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">44,530 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">745,446 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Depreciation & depletion</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">217,269 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">531 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">92,797 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">110,747 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">19,487 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,281 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">443,112 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Write-down of mining interests</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,118 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Current income tax, withholding and other taxes</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">380,470 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,609 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">117,886 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">194,685 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">694,650 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Net income (loss)</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">490,309 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(4,286)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">264,230 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">247,238 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">80,037 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(7,971)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(642,858)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">426,699 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Capital expenditures</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">223,279 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">22,180 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">43,896 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">32,137 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">496,088 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">45,248 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">241 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">863,069 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Total assets</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,532,603 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">211,893 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">734,576 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">310,808 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,286,395 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">381,917 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">421,124 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5,879,316 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:26.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"> </td><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Fekola Regional</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Masbate Mine </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Otjikoto Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Goose Mine</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Other Mineral Properties</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right">Corporate & Other </div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">Total</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">$</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">External gold revenue</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">951,676 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">464,141 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">486,213 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,902,030 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Production costs</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">384,221 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">161,462 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">136,145 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">681,828 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Depreciation & depletion</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">162,011 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,986 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">83,352 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">116,289 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">3,770 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,153 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">369,561 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Impairment of long-lived assets</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">162,673 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">52,543 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">661,160 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">876,376 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Write-down of mining interests</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">636 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">636 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Current income tax, withholding and other taxes</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">154,415 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">46 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">55,840 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">109,282 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">48 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">95 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">319,726 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Net (loss) income</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(76,859)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(68,728)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">112,930 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">122,454 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(663,781)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(1,827)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(50,842)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(626,653)</td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle">Capital expenditures</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">262,204 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">19,289 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">33,412 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">36,667 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">544,255 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">22,568 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,308 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">919,703 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt;text-align:left;vertical-align:middle">Total assets</td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,368,733 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">187,484 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">769,617 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">355,551 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,607,392 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">328,717 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">196,504 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">4,813,998 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="padding-left:36pt;text-align:justify"> </div><div style="padding-left:18pt;text-align:justify">The Company’s mining interests are located in the following geographical locations:</div><div style="padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.637%"><tr><td style="width:1.0%"></td><td style="width:63.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.464%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.089%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">2024</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top">$</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Mining interests</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"> </td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Canada</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,950,116 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,445,143 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Mali</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,105,803 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,066,748 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Philippines</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">431,312 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">480,570 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Namibia</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">128,392 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">182,758 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Colombia</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">106,703 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">74,875 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Finland</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,505 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">36,033 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#e6efff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top">Other</td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">506 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#e6efff;padding:0 1pt"></td><td colspan="2" style="background-color:#e6efff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,308 </td><td style="background-color:#e6efff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,760,337 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,291,435 </td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

1743698000

402761000

623477000

2510000

288792000

3061238000

284490000

61592000

163141000

-509223000

408105000 0 162484000 130327000 44530000 0 0 745446000

217269000

531000

92797000

110747000

19487000

2281000

443112000

5118000

380470000

1609000

117886000

194685000

694650000

490309000

-4286000

264230000

247238000

80037000

-7971000

-642858000

426699000

223279000 22180000 43896000 32137000 496088000 45248000 241000 863069000

1532603000

211893000

734576000

310808000

2286395000

381917000

421124000

5879316000

951676000

464141000

486213000

1902030000

384221000 0 161462000 136145000 0 0 0 681828000

162011000

1986000

83352000

116289000

3770000

2153000

369561000

162673000 52543000 0 0 661160000 0 0 876376000

636000

154415000

46000

55840000

109282000

48000

95000

319726000

-76859000

-68728000

112930000

122454000

-663781000

-1827000

-50842000

-626653000

262204000 19289000 33412000 36667000 544255000 22568000 1308000 919703000

1368733000

187484000

769617000

355551000

1607392000

328717000

196504000

4813998000

1950116000 1445143000 1105803000 1066748000 431312000 480570000 128392000 182758000 106703000 74875000 37505000 36033000 506000 5308000 3760337000 3291435000

Commitments<div style="padding-left:18pt">As at December 31, 2025, the Company had the following commitments (in addition to those disclosed elsewhere in these financial statements):</div><div style="padding-left:36pt"> </div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•For payments of $19 million for mobile equipment purchases and rebuilds and $1 million for other capital projects at the Fekola Mine, all of which is expected to be incurred in 2026.</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•For payments of $5 million for mobile equipment purchases, $5 million related to mill and process plant optimization and $4 million related to infrastructure upgrades at the Goose Mine, all of which is expected to be incurred in 2026.</div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt">•For payments of $5 million for mobile equipment purchases at the Masbate Mine, all of which is expected to be incurred in 2026.</div>

19000000

1000000

5000000

4000000

5000000