EQX · Equinox Gold Corp.

Equinox Gold delivered a robust first quarter with 197,628 ounces of gold production, driven by strong performance from its Canadian cornerstone assets. The Greenstone mine achieved mill throughput averaging 24,544 tonnes per day, with 51% of days exceeding the 27,000 tpd nameplate capacity, showing improvement from 36% in Q4 2025. Valentine's process plant operated at 90% of its 6,850 tpd nameplate capacity for the full quarter, reaching 101% in February and March. The company's operational cash flow, combined with proceeds from the sale of its Brazil operations, enabled significant debt reduction of $990 million, substantially strengthening the balance sheet. This financial improvement supported the initiation of a quarterly dividend program, with the first payment of $0.015 per share distributed on March 26, 2026. Management highlighted continued optimization efforts at Greenstone and advancement of the Valentine Phase 2 expansion, which has an estimated $414 million capital cost and 24-month construction timeline. The company also noted exploration success at Valentine with the new Minotaur gold discovery and ongoing work at the Frank Zone. Looking forward, Equinox Gold expects Canadian production to be weighted toward the second half of 2026 as assets continue to ramp up, with steady contributions from Nicaragua and Mesquite operations supporting overall cash flow generation.