EQX · Equinox Gold Corp.

Equinox Gold delivered a strong first quarter in 2026, driven by significant operational improvements and a major portfolio rationalization. The Company reported net income of $310.1 million, a substantial turnaround from the $75.5 million loss in the prior-year period. This result includes a $122.9 million contribution from discontinued operations related to the Brazil assets. Revenue from continuing operations surged to $861.6 million, up from $265.7 million in Q1 2025, reflecting the contribution of newly acquired or developed assets like Greenstone and Valentine, which achieved commercial production in November 2025. Income from mine operations reached $438.8 million, demonstrating robust margins at current gold prices.

A defining event for the quarter was the sale of the Brazil Operations on January 23, 2026, for $891.1 million in cash. This transaction allowed the Company to significantly strengthen its balance sheet. Management immediately deployed the proceeds to retire debt, fully repaying a $500 million term loan and a $298.6 million Sprott Loan. Additionally, the Company repaid $190 million on its revolving credit facility. These actions reduced net debt to $251.8 million by quarter-end, providing enhanced financial flexibility.

Operationally, the Company produced 197,628 ounces of gold from all operations, with continuing operations contributing 183,960 ounces at an All-In Sustaining Cost (AISC) of $1,908 per ounce. The Company maintains its 2026 guidance for 700,000 to 800,000 ounces of gold production at an AISC of $1,775 to $1,875 per ounce, signaling confidence in its Americas-focused strategy. The Board also approved a dividend of $0.015 per share and a normal course issuer bid to repurchase up to 5% of outstanding shares, reflecting a commitment to shareholder returns.