EQX · Equinox Gold Corp.

Equinox Gold delivered a strong Q1 2026, producing 197,628 ounces of gold at cash costs of $1,633/oz and AISC of $1,950/oz. Revenue from Continuing Operations reached $861.6 million, driven by an average realized gold price of $4,604/oz. Net income from All Operations was $310.1 million ($0.39 per share), while adjusted net income was $234.0 million ($0.30 per share). The company benefited from the sale of its Brazil assets in January 2026, which generated proceeds of up to $1.015 billion and allowed significant deleveraging. Equinox Gold repaid $988.6 million of debt during the quarter, reducing net debt to $77 million (excluding convertible debentures) and improving financial flexibility. The company also initiated a share buyback program and paid its inaugural quarterly dividend of $0.015 per share. Canadian operations are ramping up well, with Greenstone and Valentine producing 87,402 ounces combined. Greenstone averaged 24,544 tpd mill throughput, exceeding nameplate capacity on more than half of operating days, while Valentine averaged 6,192 tpd (90% of nameplate). Despite winter challenges, the company remains on track to achieve full-year production guidance of 700,000-800,000 ounces. Management highlighted the pipeline of growth projects, including Valentine Phase 2 expansion (estimated $414 million capital cost, targeting H2 2026 construction start) and Castle Mountain (Federal Record of Decision expected Q4 2026), which collectively could add up to 500,000 ounces of annual production. The company also announced a second quarterly dividend of $0.015 per share payable on June 5, 2026.