Briefing
This fact sheet provides an overview of Equinox Gold's operations, financial position, production guidance, and growth strategy as of February 2026. It highlights the company's diversified gold production portfolio across the Americas, recent mergers and divestments, current financial metrics, and key projects in its pipeline. Key points: Equinox Gold is a diversified gold producer with operations in Canada, the United States, Mexico, and Nicaragua; The company provides 2026 gold production guidance of 700,000-800,000 ounces at an AISC of $1,775-$1,875/oz; As of December 31, 2025, Equinox Gold reported approximately $430 million in cash and equivalents; Net debt as of January 31, 2026, is reported at approximately $108 million; Recent strategic actions include the merger with Calibre Mining in 2025 and the sale of certain Nevada and Brazil assets, which improved the balance sheet and enabled the initiation of a quarterly dividend; The company holds approximately 19 million ounces of proven and probable gold reserves and 18 million ounces of measured and indicated gold resources (exclusive of reserves); Key growth projects include Castle Mountain Phase 2 (California), Valentine Phase 2 (Canada), and a potential restart/expansion of Los Filos (Mexico), with a combined potential to add 450,000-550,000 ounces of annual gol; Equinox Gold plans to invest $70-$80 million in exploration in 2026. This brief is based on the cited source artifact and is intended as a research entry point, not a replacement for the original source or EGM canonical data tables.
Source Notes
Equinox Gold is positioned for growth with a strong A DIVERSIFIED 700,000-800,000 ORGANIC GROWTH foundation of high-quality, long-life gold operations AMERICAS GOLD...
Page 1, Overview · source
~19 Moz ~18 Moz P&P GOLD M&I GOLD RESERVES RESOURCES1
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~US$430 M CASH & EQUIVALENTS AT DECEMBER 31, 2025
Page 1, Financial Metrics · source
Net Debt (JANUARY 31, 2026) 3 ~$108 M
Page 2, Capital Structure · source
Extracted Document Text
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# EQX Fact Sheet Feb 2026 website Source: https://www.equinoxgold.com/wp-content/uploads/2026/02/EQX-Fact-Sheet-Feb-2026-website.pdf Published: 2026-02-01T00:00:00+00:00 Fetched: 2026-05-05T09:29:19.367+00:00 Source artifact: 5d45de48-7feb-4798-9a84-0b73cd5310e6 Normalizer input: text ## Content # EQX Fact Sheet Feb 2026 website TSX: EQX NYSE-A: EQX equinoxgold.com Driven to Outperform FEBRUARY 2026 Equinox Gold is positioned for growth with a strong A DIVERSIFIED 700,000-800,000 ORGANIC GROWTH foundation of high-quality, long-life gold operations AMERICAS GOLD OUNCES OF GOLD POTENTIAL TO PRODUCER IN 2026 +1 Moz GOLD in Canada and across the Americas, and a pipeline of expansion projects. Founded and chaired by renowned mining entrepreneur Ross Beaty and guided by a seasoned leadership team with broad expertise, the Company is 3 3 PRODUCTION REGIONS GROWTH OPPORTUNITIES focused on disciplined execution, operational excellence, and long-term value creation. Equinox Gold offers investors meaningful exposure to gold with a diversified portfolio and clear path to growth. ~19 Moz ~18 Moz P&P GOLD M&I GOLD RESERVES RESOURCES1 DELIVERING TOP QUARTILE VALUATION Equinox Gold’s mission at inception was to deliver superior leverage to gold by creating a major Americas focused gold producer with a large gold endowment, a diversified portfolio, and more than 1 Moz of annual ~750 Koz ~500 Koz production. GOLD PRODUCTION ORGANIC GROWTH FROM GUIDANCE IN 20262 EXPANSION PROJECTS3 To achieve its growth objectives, Equinox Gold has constructed five new mines and also completed a number of strategic mergers: with Leagold Mining in 2020, Premier Gold in 2021 and Calibre Mining in 2025. In addition to its Greenstone Gold Mine in Ontario, Canada, the merger with Calibre ~US$430 M ~18 M Mining gave Equinox Gold the Valentine Gold Mine, a second high-quality, CASH & EQUIVALENTS AVERAGE DAILY long-life mine in Newfoundland, Canada, and producing mines in Nicaragua. AT DECEMBER 31, 2025 TRADING VOLUME The Company also optimized its portfolio in 2025, selling some small assets in Nevada for $115 M and its high-cost, short-life Brazil Operations for more 1. M&I Resources are exclusive of Reserves. 2. Mid-point of 2026 guidance of 700,000-800,000 oz of gold than $1.0 B. The proceeds from these divestments paid down debt and at AISC of $1,775-$1,875/oz of gold sold. 3. Assuming the Company successfully delivers the Valentine transformed the balance sheet, giving Equinox Gold the financial flexibility to Phase 2, Castle Mountain Phase 2 and Los Filos expansions. self-fund organic growth and initiate a $0.015/share quarterly dividend. Note: Technical reports for all of the company’s projects are available on the Company’s website at www.equinoxgold.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Equinox Gold’s pipeline of growth projects could deliver an additional 450,000-550,000 ounces of gold production per year: 220,000 ounces from Castle Mountain Phase 2 in California, 25,000-50,000 ounces from the Phase 2 expansion at Valentine in Canada, and more than 250,000 ounces from a potential restart and expansion of Los Filos in Mexico. Greenstone Mine Equinox Gold believes exploration is one of the highest-return investments for ONTARIO, CANADA its shareholders and will invest $70-$80 M in 2026 across its portfolio to replace reserves, expand resources, and identify its next generation of mines. CANADA The merger with Calibre Mining in 2025 brought together world-class assets Valentine Mine and an experienced team with the shared vision of building a premier gold NEWFOUNDLAND & producer that is valued in the top quartile of the industry. The new mission is Castle Mountain LABRADOR, CANADA clear: deliver reliable operations, generate cash, grow organically and create Phase 2 CALIFORNIA, USA sustained share price appreciation for investors. U N I T E D S TAT E S Producing Complex Mesquite Mine Growth Opportunity CALIFORNIA, USA MEXICO Download Equinox Gold’s Los Filos Mine Complex GUERRERO, MEXICO corporate presentation NICARAGUA Limon / Libertadd NICARAGUA TSX: EQX NYSE-A: EQX equinoxgold.com CANADA | UNITED STATES | MEXICO | NICARAGUA Top 10 Shareholders SHARES (M) OWNERSHIP Capital Structure Van Eck Associates (incl. GDX & GDXJ) 84.3 10.7% Ticker Symbol TSX: EQX / NYSE-A: EQX Ross Beaty 24.8 3.1% Shares Issued and Outstanding 788.3 M The Vanguard Group 21.1 2.7% Options and Warrants @ avg C$5.91 11.6 M L1 Capital 20.2 2.6% Restricted Share Units 4.3 M Maple Rock Capital 16.6 2.1% Potential Shares from Convertible Notes 1 31.5 M HHLR Advisors 14.2 1.8% Fully Diluted Shares 1 835.7 M Franklin Advisers 12.4 1.6% Unrestricted Cash (DECEMBER 31, 2025) ~$430 M Fidelity Investments Canada 10.8 1.4% Convertible Notes @ avg US$6.73 2 $207 M Connor, Clark & Lunn 10.1 1.3% Net Debt (JANUARY 31, 2026) 3 ~$108 M Norges Bank 10.1 1.3% Avg. Daily Shares Traded TSX: 4.7 M + NYSE: 12.4 M Market Cap (FEBRUARY 18, 2026) ~C$16.1 B / US$11.8 B 1. Fully diluted shares outstanding includes the convertible notes. 2. Face value of two convertible notes: $172.5 M convertible at US$6.30 per share expiring in October 2028 and $35.0 M convertible at C$12.14 per share expiring in Strategic Shareholder Base March 2030. If both convertible notes were fully converted, the Company would issue 31.5 M shares. 3. Calculated using cash at Dec 31, 2025 and drawn debt at Jan 31, 2026, excuding in-the-money convertible debentures. Equinox Gold has a broad shareholder base with strategic long-term shareholders and a balanced mix of institutional, high-net-worth and retail investors. Equinox Gold’s insiders hold around 4.4% of the Analyst Coverage Company, one of the highest insider ownership rates in the industry. FIRM ANALYST EMAIL BMO Kevin O’Halloran kevin.ohalloran@bmo.com 4.4% ROSS BEATY/INSIDERS Canaccord Jeremy Hoy jehoy@cgf.com 59% INSTITUTIONAL CIBC Anita Soni anita.soni@cibc.com Cormark Richard Gray rgray@cormark.com 19% RETAIL/OTHER Global Mining Research David Haughton davidh@globalminingresearch.com Haywood Jamie Spratt jspratt@haywood.com National Bank Mohamed Sidibe mohamed.sidibe@nbc.ca RBC Josh Wolfson josh.wolfson@rbccm.com 17% INDICES Scotiabank Ovais Habib ovais.habib@scotiabank.com Stifel Nicolaus Ingrid Rico irico@stifel.com TD Wayne Lam wayne.lam@tdsecurities.com Board of Directors Executive Leadership Head Office Ross Beaty Darren Hall Ryan King Suite 1501 - 700 West Pender Street CHAIR CEO & DIRECTOR EVP CAPITAL MARKETS Vancouver, BC David Schummer Tom Gallo Canada V6C 1G8 Maryse Bélanger COO SVP GROWTH & TECHNICAL SERVICES Tel: +1 604.558.0560 Len Boggio Email: info@equinoxgold.com Trudy Curran Peter Hardie Jacqlin Anthony CFO GENERAL COUNSEL Omaya Elguindi Douglas Forster Daniella Dimitrov Investor Relations CHIEF STRATEGY & RISK OFFICER Tel: +1 604.260.0516 Darren Hall Blayne Johnson Email: ir@equinoxgold.com Marshall Koval Mike Vint