Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the El Dorado Gold Fourth Quarter 2025 Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. To do this during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Lynette Gould, Vice President, Investor Relations, Communications, and External Affairs. Please go ahead, Ms. Gould.

Thank you, Operator, and good morning, everyone. I'd like to welcome you to our conference call to discuss our fourth quarter and year-end 2025 results, in addition to details of our 2026 guidance and overview of our three-year production outlook. Before we begin, I'd like to remind you that we will be making forward-looking statements and referring to non-IFRS measures during the calls. please refer to the cautionary statements included in the presentation and the disclosure on non-IFRS measures and risk factors in our management's discussion and analysis. Joining me on the call today, we have George Burns, Chief Executive Officer, Christian Milau, President, Paul Ferneyhau, Executive Vice President and Chief Financial Officer, and Simon Healy, Executive Vice President, Operations and Technical Services. Lowe Smith, Executive Vice President, Greece, is at site today and not able to join the call. So Simon Hilly will speak on his behalf for Scurrius and Olympias. Our releases yesterday detail our fourth quarter and year-end 2025 financial and operating results, as well as our 2026 guidance and three-year production outlook. They should be read in conjunction with our year-end 2025 financial statements and management discussion and analysis. both of which are available on our website. They have also both been filed on CDAR Plus and EDGAR. All dollar figures discussed today are U.S. dollars unless otherwise stated. We will be speaking to the slides that accompany this webcast, which can be downloaded from our website. After the prepared remarks, we will open the call for Q&A, at which time we will invite analysts to queue for questions. I will now turn the call over to George.

Thanks, Lynette, and good morning, everyone. I'll begin with an overview of our fourth quarter and full year 2025 results and highlights, and then provide an update on construction and the timeline at SCURRIUS. I'll then hand the call over to Paul to review the financials, and then to Simon with an update on projects and operations. Following that, Christian will provide an update on our 2026 guidance in three-year production outlook, before I conclude with some closing remarks. It's been a busy start to the year. We've continued to execute on a clear value creation strategy, achieving the high end of 2025 production guidance, launching a quarterly dividend to formalize a capital return framework, and advancing a discipline exploration program that reinforces the company's discovery strategy. The announced acquisition of foreign mining further strengthens the company's long-term growth pipeline, adding a high-quality Canadian copper-gold development asset and enhancing portfolio diversification with a focus on per-share value creation and sustainable free cash flow growth. Turning to slide four and our fourth quarter and full-year highlights. 2025 was a year of strong execution and meaningful progress across our portfolio. We delivered safe gold production at the upper end of our guidance, finishing the year with 488,268 ounces. This performance was supported by another strong year at Lamarck Complex, steady contributions from Kisada and FM Chukaru, and a solid finish at the Olympus Mine, bringing it back on track. Solid operating execution combined with a favorable gold price environment drove strong financial results, including $1.8 billion in revenue, $743 million in operating cash flow, and $316 million in free cash flow, excluding Scurries investment. In Greece, we are reaching a key inflection point. The first production from Scurries later this year Together with the Olympia's expansion and ongoing advancement of the Paramahill project, Greece is set to deliver meaningful growth. This momentum is complemented by the continued long-life potential at the Lamak complex, supported by production from the Triangle deposit, development from the Armak deposit, and a robust exploration pipeline, and by our turkeys operations, which remain a stable, cost-generating foundation for the company. Turning to slide five in the fourth quarter, our last time injury frequency rate was 0.55, an improvement from the LTIFR of 1.02 in the fourth quarter of 2024. While there is always room for improvement, this safety performance also comes during the peak of our construction activities at Scurrius. We continue to implement multi-year programs to support continuous improvement in workplace safety, supporting our vision of everyone going home healthy and safe every day. During the quarter, we achieved safe production of 123,416 cold ounces at $1,894 all in sustaining cost per ounce sold. Simon will speak further to each of the assets performance during the call. With a strong balance sheet, we are well positioned to advance our growth pipeline while maintaining flexibility to return capital to shareholders. As previously announced, we were active on our share repurchase through the NCIV program, and we repurchased approximately $204 million of shares during 2025. Additionally, we announced in January the initiation of a quarterly dividend program, which commences in the first quarter of 26. Coupled together, these mark an important milestone in delivering value to our shareholder and reflect the company's strong financial position and confidence in executing our growth strategy. At Scuria's, first concentrate production has been modestly delayed and is now expected early in the third quarter of 2026, with commercial production anticipated in the fourth quarter. This timing adjustment is expected to increase construction capital by approximately $50 million. The delay rate relates to primarily required replacement of the cyclone feed pump variable frequency drive capacitors in the process plant due to moisture damage that occurred while in storage. And secondarily, our power line connection delays resulting from a slower than expected approval of the detailed engineering and delayed wrap-up of the subcontractor. Prior to commissioning, final electrical regulatory authority approval requires completion of inspection and energization protocols. Importantly, the project has mitigation measures well underway. and Scourge remains a multi-decade high-quality asset expected to generate meaningful cash flow in the second half of 2026 and beyond. Wrap-up of first production towards commercial production is expected to accelerate as the project team will continue to complete additional areas as we advance toward first production. We see the impact of the delay is minimal. Looking at the long-life nature of the asset, and we are confident in the delivery of this multi-decade mine. With that, I'll turn the call over to Paul for a review of our financial results.