# aaue 20251231 d2

Source Brief: https://evesgoldminers.com/research/source-briefs/allied-gold-corporation-aaue-20251231-d2-cc92557e
Original source: https://www.sec.gov/Archives/edgar/data/1993344/000162828026022512/aaue-20251231_d2.htm
EGM generated: 2026-09-04
Company: Allied Gold Corporation (AAUC)

## Use Note

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## Extracted Document Text

# aaue 20251231 d2

Source: https://www.sec.gov/Archives/edgar/data/1993344/000162828026022512/aaue-20251231_d2.htm
Fetched: 2026-05-19T13:52:23.466+00:00
Source artifact: cc92557e-6102-49bb-b8c1-31c36b505482
Normalizer input: text

## Content

# aaue 20251231 d2
aaue-20251231_d2 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024 TABLE OF CONTENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 6 CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) 7 CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE EARNINGS (LOSS) 8 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY 9 CONSOLIDATED STATEMENTS OF CASH FLOWS 10 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ​ 1 NATURE OF OPERATIONS 11 2 BASIS OF PREPARATION AND PRESENTATION 11 3 SUMMARY OF MATERIAL ACCOUNTING POLICIES 11 4 NEW STANDARDS INTERPRETATIONS AND AMENDMENTS 21 5 CRITICAL JUDGEMENTS AND ESTIMATION UNCERTAINTIES 21 6 OPERATING SEGMENTS 24 7 REVENUE 26 8 COST OF SALES 26 9 GENERAL AND ADMINISTRATIVE 27 10 OTHER LOSSES 27 11 FINANCE COSTS 28 12 INCOME TAX EXPENSE 28 13 LOSS PER SHARE 31 14 NON-CONTROLLING INTERESTS 32 15 FINANCIAL INSTRUMENTS 33 16 CASH AND CASH EQUIVALENTS 36 17 TRADE RECEIVABLES, PREPAYMENTS AND OTHER RECEIVABLES 36 18 INVENTORIES 37 19 MINERAL PROPERTY, PLANT AND EQUIPMENT 37 20 TRADE AND OTHER PAYABLES 38 21 PROVISIONS 38 22 DEFERRED REVENUE 39 23 BORROWINGS 40 24 PROVISIONS FOR RECLAMATION AND CLOSURE COSTS 41 25 RELATED PARTY TRANSACTIONS 41 26 LEASE OBLIGATIONS 42 27 SHARE CAPITAL 43 28 SHARE-BASED EXPENSE 43 29 DEFERRED AND CONTINGENT CONSIDERATION 46 30 COMMITMENTS AND CONTINGENCIES 48 31 FINANCIAL RISK MANAGEMENT OBJECTIVES 49 32 SUBSEQUENT EVENTS 52 MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING The accompanying consolidated financial statements of Allied Gold Corporation ("Allied" or "the Company") and the information in these annual financial statements are the responsibility of management and have been reviewed and approved by the Company’s board of directors (the “Board of Directors”). The consolidated financial statements have been prepared by management on a going concern basis in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). When alternative accounting methods exist, management has chosen those it deems most appropriate in the circumstances. Financial statements are not exact since they include certain amounts based on estimates and judgments. Management has determined such amounts on a reasonable basis in order to ensure that the financial statements are presented fairly, in all material respects. The Company maintains systems of internal accounting and administrative controls in order to provide, on a reasonable basis, assurance that the financial information is relevant, reliable and accurate and that the Company's assets are appropriately accounted for and adequately safeguarded. The Board of Directors is responsible for ensuring that management fulfills its responsibilities for financial reporting and is ultimately responsible for reviewing and approving the financial statements. The Board carries out this responsibility principally through its Audit Committee ("Committee"). The Audit Committee is appointed by the Board, and all of its members are independent directors. The Committee reviews the consolidated financial statements, management’s discussion and analysis and the external Auditor's report; examines the fees and expenses for audit services; and considers the engagement or reappointment of the external auditors. The Committee reports its findings to the Board of Directors for its consideration when approving the consolidated financial statements for issuance to the shareholders. The consolidated financial statements have been audited by KPMG LLP (Auditor Firm ID: 85), an independent registered public accounting firm, in accordance with the standards of the Public Company Accounting Oversight Board (United States). KPMG LLP has full and free access to the Audit Committee. Their report follows. “Peter Marrone” Chief Executive Officer “Jason LeBlanc” Chief Financial Officer Toronto, Ontario, Canada March 31, 2026 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders and Board of Directors of Allied Gold Corporation Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated statements of financial position of Allied Gold Corporation (the Company) as at December 31, 2025 and 2024, the related consolidated statements of earnings (loss), other comprehensive earnings (loss), changes in equity, and cash flows for each of the years then ended, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2025 and 2024, and its financial performance and its cash flows for each of the years then ended, in conformity with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). Basis for Opinion These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion. Critical Audit Matter The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of a critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates. Assessment of the provision for reclamation and closure costs As discussed in Note 24 to the consolidated financial statements, the Company’s provision for reclamation and closure costs was $187,623 thousand as at December 31, 2025. As discussed in Note 5, the provision for reclamation and closure costs is determined using estimates of the scope, timing and amount of future costs the Company will incur to complete the reclamation and closure work required to comply with existing laws and regulations. Future changes to environmental laws and regulations could change the scope of reclamation and remediation work required to be performed by the Company. We identified the assessment of the provision for reclamation and closure costs as a critical audit matter, specifically the scope of the work required and the associated cost estimates. Significant auditor judgement was required to evaluate the estimates as determined by the Company’s specialists. These estimates were challenging to evaluate, as any minor changes could have had a significant effect on the Company’s determination of the provision for reclamation and closure costs. The following are the primary procedures we performed to address this critical audit matter. We evaluated the design and tested the operating effectiveness of certain internal controls over the Company’s process to determine the amount of the provision for reclamation and closure costs obligations and development of significant estimates. This included controls related to assessments of the scope of work and determination of the costs required. We evaluated the competence, capabilities and objectivity of the Company’s specialists who estimated the scope of rehabilitation work required and associated cost of the rehabilitation by assessing their professional qualifications, industry experience and familiarity with applicable legislative requirements. We assessed a sample of the future costs to be incurred to reclaim the mine sites by comparing to relevant supporting evidence, including mine closure plans, and third-party cost estimates. /s/ KPMG LLP Chartered Professional Accountants, Licensed Public Accountants We have served as the Company's auditor since 2024. Toronto, Canada March 31, 2026 ALLIED GOLD CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (In thousands of US dollars) Note As at December 31, 2025 As at December 31, 2024 Assets Current assets Cash and cash equivalents 16 $ 479,777   $ 224,994   Trade receivables, prepayments, and other receivables 17 117,093   59,433   Derivative financial asset 15 26,703   —   Inventories 18 140,136   164,859   Total current assets $ 763,709   $ 449,286   Non-current assets Mineral property, plant and equipment 19 $ 1,240,630   $ 795,645   Trade receivables, prepayments and other receivables 17 28,798   4,355   Deferred tax assets 12 3,377   21,656   Inventories 18 70,056   42,418   Restricted cash 16 17,109   6,494   Total non-current assets $ 1,359,970   $ 870,568   Total assets $ 2,123,679   $ 1,319,854     Liabilities and Total Equity Current liabilities Trade and other payables 20 $ 373,193   $ 247,708   Derivative financial liability 15 167,260   2,594   Income tax payable 12 177,122   72,060   Provisions 21 16,134   15,115   Deferred and contingent consideration 29 30,117   7,415   Borrowings 23 154,312   96,356   Deferred revenue 22 67,427   40,878   Lease obligations 26 2,999   2,877   Total current liabilities $ 988,564   $ 485,003   Non-current liabilities Provision for reclamation and closure costs 24 187,623   126,803   Deferred tax liability 12 56,071   15,305   Deferred and contingent consideration 29 44,906   83,563   Deferred revenue 22 329,373   164,540   Other Liabilities —   15,457   Lease obligations 26 12,463   12,886   Total non-current liabilities $ 630,436   $ 418,554   Total liabilities $ 1,619,000   $ 903,557     Equity Share capital 27 $ 813,355   $ 587,119   Retained earnings (deficit) ( 280,806 ) ( 236,794 ) Accumulated OCI ( 155,854 ) ( 13,052 ) Share-based payments reserve 28 30,914   8,492   Total equity attributable to shareholders of the Company $ 407,609   $ 345,765   Non-controlling interests 14 97,070   70,

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