Announcement • Jul 09
Dynacor Commences Processing First Ore At Galam Pilot Plant in Senegal Dynacor Group Inc. announced that ore production from its Galam pilot plant in the Kédougou region of southeastern Senegal has commenced, in line with its schedule. Commissioning of the laboratory and front-end process plant is complete, and both are in use. Hot commissioning activities are ongoing in the main process areas, including the grinding, leaching, gold refining and Merrill Crowe circuits. An initial stockpile of gold-bearing ore has been built from local suppliers, in line with the start-up target. Purchasing of ore from additional supplier groups will continue in August. Initial plant operator and maintenance positions are being filled. On track for first gold pour in August. The tailings storage facility cell has been lined and is operational. Rehabilitation of the Svetlana plant in Ecuador continues advancing towards the targeted Fourth Quarter 2026 restart. Rehabilitation work on the Svetlana processing plant continues to advance across the following key operational areas: Overall rehabilitation of the plant has reached about 40% completion. Crushing circuit - Rehabilitation of the primary raw material feed and crushing circuit is 50% complete. Remaining work includes upgrade of the cone crusher and hydraulic feeder, in addition to replacement of conveyor belts, chute lining and pulley systems. Milling area – Rehabilitation of the ball mill and supporting infrastructure is over 60% complete. Work includes upgrade of the release motor and pinion bearings, and alignment of the girth gear and pinions. Electrical /power systems – Installation of electrical substation transformers and rehabilitation of cabling for key equipment is progressing. Leaching area – Rehabilitation of the leaching tanks including baffle replacement and air-slurry redesign is almost halfway complete. Purchasing – Most replacement pieces of equipment have been secured. Tailings – A geotechnical review and laboratory testing of the working tailings pond is ongoing. Laboratory – Assessment of the laboratory is ongoing with a view to its rehabilitation and installation of Atomic Absorption Spectroscopy equipment. Permitting – Dynacor has submitted its application for an Investment Protection Agreement to the government of Ecuador and is advancing its commercialisation permit. All permits are on track for Fourth Quarter 2026. Declared Dividend • Jun 28
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 9th July 2026 Payment date: 17th July 2026 Dividend yield will be 2.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 26
Dynacor Group Inc. Announces Board and Committee Changes, Effective June 25, 2026 Dynacor Group Inc. announced that its newly constituted Board of Directors had appointed Réjean Gourde as Chair, effective June 25, 2026. Mr. Gourde succeeded Pierre Lépine who did not stand for re-election at the recent Annual Shareholder Meeting after 12 years of dedicated service and leadership. As chair of Dynacor, Mr. Gourde drew from his eight-year experience on the Dynacor board, most recently as Chair of the Governance, Nomination and Compensation Committee and as a member of the Audit and Risk Management Committee. His public company board expertise, alongside his over 40-year track record in mining operations, corporate development, and management of intermediate gold producers in Africa and South America, positioned him to maintain strong oversight and corporate governance at Dynacor. Gourde was President and Chief Executive Officer of Reunion Gold Corporation until his retirement in 2021. Prior to Reunion Gold, Mr. Gourde had a successful consulting career in the mining industry, advising IAMGOLD’s Essakane and Bomboré projects in West Africa, and other projects in Guyana and Peru. His over four decades of experience in the mining industry included senior executive roles at Cambior Inc. (now IAMGOLD) where he was responsible for the safe operation of Omai Gold Mines in Guyana, Rosebel Gold Mines in Suriname and other projects in the Guiana Shield. Gourde joined Cambior following executive and technical leadership positions with Falconbridge Copper and Ressources Aiguebelle. Gourde holds a degree in mine engineering from Polytechnique Montreal and is a registered Professional Engineer in Quebec. Previously, he served on the boards of G Mining Ventures, Radisson Mining Resources and Reunion Gold Corporation. Following Mr. Gourde’s appointment, the Corporation’s board committees were as follows: Governance, Nomination and Compensation Committee - Rocio Rodriguez-Perrot (chair), Hélène Kyriakakis and Pierre Béliveau. Audit and Risk Management Committee - Pierre Béliveau (chair), Rocio Rodriguez-Perrot and Cyril Gradis. Environment and Social Responsibility Committee - Isabel Rocha (chair) and Jean Martineau. IT and R&D Committee - Hélène Kyriakakis (chair), Philippe Chave and Cyril Gradis. 
