• Gold: The primary product is mined gold, extracted from their mining operations and sold on the market.

Peter Marrone, Chairman and Chief Executive Officer

Peter Marrone is the Chairman and Chief Executive Officer and a significant investor of Allied Gold Corporation, which he and his management team took public in 2023. Prior to Allied Gold, he founded Yamana Gold Inc. in 2003 and served as its Executive Chairman. With over 35 years of experience in mining, business, and capital markets, Mr. Marrone has founded and taken public several companies across various sectors. In his earlier career, he worked as an investment banker and lawyer, providing advice to companies on public listings and establishing governance protocols.

Jason LeBlanc, Chief Financial Officer

Jason LeBlanc serves as the Chief Financial Officer of Allied Gold Corporation. He previously held the position of Chief Financial Officer at Yamana Gold, where he amassed over 20 years of research-based and financial experience within the mining industry. During his tenure at Yamana, Mr. LeBlanc progressed through increasingly senior roles, including Vice President, Finance since 2009, before being appointed CFO in February 2017. He also currently serves as a director of Premium Nickel Resources Ltd.

Johannes Stoltz, Chief Operating Officer

Johannes Stoltz is the Chief Operating Officer, possessing dual qualifications in mining and mechanical engineering. He brings 30 years of operational experience, having worked at various mining operations since 2005. Mr. Stoltz has been responsible for achieving significant growth and cost reductions in both Tier 1 and Mid-Tier companies. He joined Allied Gold in 2023 as the Vice President Operations.

Sofia Tsakos, Chief Legal Officer and Corporate Secretary

Sofia Tsakos holds the roles of Chief Legal Officer and Corporate Secretary for Allied Gold Corporation. Her previous experience includes serving as Senior Vice President, General Counsel, and Corporate Secretary at Yamana Gold. Ms. Tsakos joined Yamana in December 2007 as Vice President, Corporate Counsel, was appointed Corporate Secretary in November 2009, and became Senior Vice President, General Counsel in June 2010. Before her time at Yamana, she was a partner specializing in securities law at a national law firm, with a focus on the mining sector.

Gerardo Fernandez, Chief Development Officer

Gerardo Fernandez is the Chief Development Officer of the Company. Previously, Mr. Fernandez was the Senior Vice President, Corporate Development at Yamana Gold, where he held several leadership positions in operations, strategic planning, and project development. He holds a Master of Business Administration from Nevada, USA, and degrees in Civil Mining Engineering and BSc. Engineering from the University of Chile.

The key risks to Allied Gold's business include geopolitical and jurisdictional complexities in its operating regions, the inherent volatility of gold prices, and various operational challenges associated with mining and project development.

1. Geopolitical and Jurisdictional Risks in Africa: Allied Gold operates in African jurisdictions, specifically Mali, Côte d'Ivoire, and Ethiopia, which exposes the company to significant geopolitical and regulatory risks. These risks include potential government expropriation or nationalization of mining operations, changes in mining codes and regulations (such as the 2023 mining code in Mali which impacted costs), and broader political and security instability in these regions. Mali, in particular, has been identified as a high-risk mining jurisdiction with a history of government intervention.
2. Fluctuating Gold Prices: As a gold mining company, Allied Gold's profitability and financial performance are highly dependent on the cyclical and often volatile price of gold. Significant fluctuations in gold prices can directly impact the company's revenues, operating margins, and free cash flow generation, making it a key business risk.
3. Operational Risks and Execution Risk: Allied Gold faces risks inherent to the exploration, development, and operation of its mineral properties. These include potential adverse environmental and climatic conditions, unexpected geological formations, and equipment failures. The company also faces execution risk associated with its growth projects, such as the Sadiola expansion and the Kurmuk project, where successful implementation is crucial for anticipated production growth and cost management. Difficulties in bringing costs under control also present an operational challenge.

Allied Gold (symbol: AAUC) is an international gold mining company with operations in African jurisdictions including Mali, Côte d'Ivoire, and Ethiopia. The company's primary product is gold.

The addressable market for Allied Gold's main product is the global gold mining market. In 2024, the global gold mining market size was estimated at approximately USD 260.86 billion and is projected to reach USD 710.08 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 11.0% from 2025 to 2033. Another estimate valued the global gold mining market at USD 294.81 billion in 2025, with projections to grow to USD 765.85 billion by 2034, exhibiting a CAGR of 11.19% during the forecast period. Similarly, the global gold mining market was worth around USD 267.87 billion in 2024 and is predicted to grow to approximately USD 402.34 billion by 2034, with a CAGR of roughly 3.9% between 2025 and 2034.

Africa is a significant region within the global gold market. In 2023, Africa led global gold production, generating 1,010 tonnes, with Mali, where Allied Gold operates, contributing 100 tonnes. The Middle East & Africa region is anticipated to hold 542.9 tons in the broader gold market in 2026, registering a CAGR of 3.50% during the forecast period of 2026-2034.

Allied Gold (symbol: AAUC) anticipates several key drivers for future revenue growth over the next 2-3 years, stemming from strategic project developments, operational enhancements, and ongoing exploration efforts.

1. New Production from the Kurmuk Project: The Kurmuk Project in Ethiopia is a significant new asset expected to commence production in mid-2026. This project is projected to contribute an initial 100,000-150,000 ounces of gold in 2026. Over its first four years of operation, Kurmuk is anticipated to deliver an average of approximately 290,000 gold ounces annually, which will substantially increase Allied Gold's overall production and revenue.
2. Expanded and Optimized Production from Existing Mines: Allied Gold is focused on enhancing output from its current operational assets, including the Sadiola Mine in Mali and the Côte d'Ivoire Complex (Agbaou and Bonikro). The Sadiola Phase 1 expansion is nearing completion, which is expected to boost processing capabilities and drive higher production from that mine, targeting 200,000-230,000 ounces per year. Additionally, operational improvements and access to higher-grade ore across the existing portfolio are expected to lead to increased gold output, with a forecast of 385,000-425,000 ounces from these mines in 2026.
3. Successful Exploration and Reserve Growth: The company has a significant exploration budget (e.g., $32 million mentioned for 2025), aimed at increasing mineral reserves and resources. This ongoing exploration success is crucial for extending mine life and identifying new opportunities for future production, directly underpinning long-term revenue growth. As of December 31, 2025, Allied Gold reported a net year-over-year increase in Proven and Probable Mineral Reserves, totaling 11.2 million ounces of gold.
4. Favorable Gold Price Environment: While an external market factor, a sustained or rising gold price directly translates into higher revenue for a gold producer like Allied Gold. The company has benefited from a strong gold market, with prices recently surpassing $5,200 per ounce, contributing to exceptional operating margins and free cash flow generation. Continued strength in gold prices would be a significant driver of future revenue.

Share Issuance

• In October 2025, Allied Gold completed an overnight marketed public offering, issuing 6,400,000 common shares at C$27.35 per share for gross proceeds of approximately C$175.04 million.
• In April 2025, Allied Gold announced an agreement for a bought deal public offering of 15,000,000 common shares at C$5.35 per share, anticipating gross proceeds of approximately C$80 million.
• The company also granted underwriters an option to purchase an additional 2,250,000 shares, which if fully exercised, would result in additional gross proceeds of approximately C$12 million.

Inbound Investments

• In January 2026, Zijin Gold International agreed to acquire all outstanding shares of Allied Gold in an all-cash transaction valued at approximately C$5.5 billion (US$4 billion).
• In February 2025, Allied Gold announced a strategic partnership with UAE-based Ambrosia Investment Holding, involving estimated aggregate proceeds of over US$500 million, including approximately US$250 million in upfront cash consideration.

Capital Expenditures

• Allied Gold invested over US$187 million in capital expenditures for the Kurmuk gold mining project in Ethiopia during the nine months leading up to October 2025, with production anticipated to commence in mid-2026.
• The Sadiola mine phased expansion includes total capital expenditures for a 7MT per year processing plant step, estimated at approximately $200 million, with development planned between late 2026 and late 2028.
• In the last 12 months (prior to February 2026), Allied Gold's capital expenditures totaled -$413.15 million.