Mr. Jamie Beck reports

LUNDIN GOLD PUBLISHES 2025 ANNUAL REPORT AND INAUGURAL ESRS SUSTAINABILITY STATEMENT

Lundin Gold Inc. has published its annual report for the year ended Dec. 31, 2025, which includes the company's first sustainability statement prepared in accordance with the Swedish Annual Accounts Act and the European Sustainability Reporting Standards (ESRS) and Article 8 of the EU Regulation 2020/852 (the EU taxonomy) under the EU Corporate Sustainability Reporting Directive (CSRD). All amounts are in United States dollars unless otherwise indicated.

The 2025 sustainability statement documents performance under the company's 2021 to 2025 sustainability strategy and announces the launch of a new 2026 to 2030 sustainability strategy anchored in five pillars -- valued work force, shared prosperity, stakeholder trust, environmental stewardship and responsible governance -- grounded in a double materiality assessment. The sustainability statement has been independently assured on a limited assurance basis consistent with sustainability reporting standards.

"Two thousand twenty-five was a strong year for sustainability at Lundin Gold," said Jamie Beck, president and chief executive officer. "We closed our 2021 to 2025 sustainability strategy meeting or exceeding our targets -- achieving zero fatalities, surpassing our land restoration goal a year early, and delivering record local procurement and employment outcomes for communities near Fruta del Norte. Our first ESRS-aligned sustainability statement reflects the rigour we bring to measuring and reporting on these results, and our new 2026 to 2030 strategy reflects the maturity of our approach to responsible mining."

Key highlights

• Strong safety performance: Zero fatalities and zero lost-time incidents in 2025; TRIR of 0.22, a 67-per-cent improvement from 0.66 in 2024, across 8.2 million hours worked.
• Local work force and procurement: Fifty-three per cent of direct employees hired from local communities (up from a 49-per-cent baseline in 2021); $35.7-million spent with local suppliers, exceeding the $29-million annual target.
• Community health and youth development: The second phase of the local community recreational, education and mental health program was launched, providing counselling support to local residents alongside sports, arts, English-language and university preparation programming for area youth.
• Community infrastructure investment: $6-million invested in community initiatives in 2025 -- a 13-per-cent increase over the prior year -- including improvements to local waste management systems, a livestock trade fair complex, a community childcare facility, rural road paving and street lighting upgrades in nearby towns.
• Robust grievance mechanism: IFC-aligned, trilingual (Spanish, English and Shuar), with issues tracked by topic and department.
• Significant government contributions: $519-million paid in taxes and other government payments, an 80-per-cent increase over 2024.
• Long-term indigenous partnerships: Five-year collaboration and development agreement with the Shuar Federation of Zamora Chinchipe renewed through December, 2028.
• National work force representation: Ninety-three per cent of the company's 2,013-person work force is Ecuadorian.
• Environmental efficiency: Water consumption intensity of 0.09 cubic metre per ounce of gold produced (52-per-cent improvement versus 2024); Scope 1 and 2 GHG (greenhouse gas) intensity of 0.10 tCO2e (tonne carbon dioxide equivalent) per ounce of gold (stable year over year).
• Energy management: ISO50001-based energy management system implemented and certified at FDN.
• Biodiversity and reclamation: A total of 17.9 hectares under active restoration under the 2021 to 2025 strategy, exceeding the 14.5-hectare target one year ahead of schedule.
• Conservation leadership: Magnolia yantzazana conservation program achieved Wildlife Habitat Council (WHC) certification.

Annual report

The 2025 annual report, inclusive of the sustainability statement, is available for download from the company's website.

About Lundin Gold Inc.

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.

The company's board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing the environmental impact. Furthermore, Lundin Gold is focused on continued exploration on its extensive and highly prospective land package to identify and develop new resource opportunities to ensure long-term sustainability and growth for the company and its stakeholders.