Endeavour Mining : Q4 and FY23 Financial Statements (Audited)

CONSOLIDATED FINANCIAL STATEMENTS

For the year ended

31 December 2023 and 2022

Expressed in Millions of United States Dollars

1

Consolidated financial statements

Contents

CONSOLIDATED FINANCIAL STATEMENTS ..........................................................................

2
7
8
9
10
1	11
DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS ........................................................................................
2	11
BASIS OF PRESENTATION AND MATERIAL ACCOUNTING POLICIES .............................................................................
3	20
CRITICAL JUDGEMENTS AND KEY ESTIMATES ................................................................................................................
4	22
DIVESTITURES ......................................................................................................................................................................
5	26
EARNINGS FROM OPERATIONS .........................................................................................................................................
6	28
IMPAIRMENT OF MINING INTERESTS ................................................................................................................................
7	30
SHARE CAPITAL ....................................................................................................................................................................
8	33
FINANCIAL INSTRUMENTS AND RELATED RISKS ............................................................................................................
9	38
LONG-TERM DEBT ................................................................................................................................................................
10	41
TRADE AND OTHER RECEIVABLES ....................................................................................................................................
11	42
INVENTORIES .......................................................................................................................................................................
12	43
MINING INTERESTS .............................................................................................................................................................
13	44
GOODWILL ............................................................................................................................................................................
14	45
OTHER FINANCIAL ASSETS .................................................................................................................................................
15	46
TRADE AND OTHER PAYABLES ..........................................................................................................................................
16	46
LEASE LIABILITIES ...............................................................................................................................................................
17	47
OTHER FINANCIAL LIABILITIES ...........................................................................................................................................
18	48
ENVIRONMENTAL REHABILITATION PROVISION ..............................................................................................................
19	49
NON-CONTROLLING INTERESTS ........................................................................................................................................
20	49
SUPPLEMENTARY CASH FLOW INFORMATION ................................................................................................................
21	52
INCOME TAXES .....................................................................................................................................................................
22	54
RELATED PARTY TRANSACTIONS ......................................................................................................................................
23	61
SEGMENTED INFORMATION ...............................................................................................................................................
24	62
CAPITAL MANAGEMENT ......................................................................................................................................................
25	63
COMMITMENTS AND CONTINGENCIES .............................................................................................................................
26	64
SUBSEQUENT EVENTS ........................................................................................................................................................

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ............................................................................

INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF ENDEAVOUR MINING PLC .................

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS .............................................................................

CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................................................

CONSOLIDATED STATEMENT OF FINANCIAL POSITION ..................................................................................

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ...................................................................................

Independent auditor's report to the members of Endeavour

Mining Plc

To the Shareholders of Endeavour Mining Plc

Opinion

We have audited the consolidated financial statements of Endeavour Mining Plc and its subsidiaries (the Group), which comprise the consolidated statement of financial position as at December 31, 2023 and 2022, and the consolidated statements of comprehensive loss, consolidated statement of cash flows, and consolidated statement of changes in equity for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, the accompanying consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at December 31, 2023 and 2022, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB).

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs) as issued by IAASB. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements, including the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) as applied to listed entities and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Key audit matter

How the scope of our audit addressed the key audit matter

Risk that the life of mine estimates are inappropriate and mining interests and goodwill require impairment. Accounting policy: Note 2 Notes 6, 12 and 13. As detailed in Notes 12 and 13, the Group's mining interests, including property, plant and equipment and goodwill, represent its most significant assets and total $4.3bn at 31 December 2023 Cash generating units ('CGU's') to which goodwill is allocated must be tested annually for impairment. This involves the use of significant estimates and judgements to determine the recoverable amount. Management has performed an impairment assessment of the Mana and Sabodala-Massawa CGU's given goodwill has been allocated to these CGU's as part of the PPA accounting in prior periods. No impairments were noted at either of these mines. In addition, as detailed in Note 6, management has performed an impairment indicator review for all of the other operational assets under IAS 36 Impairment. Given the current gold price forecasts and consistent operating results, management has considered there is no indication of any potential impairments at the Group's other operating mines. The preparation of the life of mine ('LOM') models used in the impairment review requires management to make critical judgements and estimates regarding gold prices, reserves and resources, production rates, operating costs and capital expenditure, as well as economic variables such as discount rates. The value of the mining interests and the inherent judgement involved in the LOM estimates makes this a significant audit risk and a key area of focus for our audit.

We checked that the impairment models utilised the approved LOM plans and were subject to appropriate internal review and approval. We have assessed the appropriateness, in line with IAS 36, of management's identification of the Group's CGUs. We obtained and reviewed management's impairment indicator review, and detailed impairment tests in respect of the Mana and Sabodala-Massawa mines as set out below. In respect of the Mana and Sabodala-Massawa mines: • We evaluated management's impairment models against the approved LOM plans and our understanding of the operations. In respect of the key estimates and assumptions used by management, our testing included: comparison of the gold price to market consensus data; in conjunction with our internal valuation specialists, recalculation of discount rates and evaluation of the appropriateness of risk premiums therein; and critical review of the forecast cost, capital spend and production profiles against the approved mine plans, reserves and resources reports and historical performance. In addition, we verified the integrity of formulae and the mathematical accuracy of management's valuation models. • We compared the trading performance against budget/plan for 2023 in order to evaluate the quality of management's forecasting and, where under performance against budget/plan was highlighted, evaluated the impact on the forecasts. • We held meetings with management (including mine managers, geologists, mining engineers) to understand and challenge the production, operating cost and capex forecasts. • We agreed the ounces in the impairment models to the latest Reserves and Resources statement. Specifically, we challenged the inclusion of unmodelled ounces in the impairment models and the value at which they have been included. • We assessed the independence (external experts only), objectivity and competency of management's internal and external experts, including the Competent Persons. • We challenged management on the impact of climate change on the LOM models. • We reviewed management's sensitivity calculations in respect of gold prices, production, discount rates, and operating costs and performed additional sensitivity analysis on the impairment models where considered necessary. We also considered the appropriateness, with reference to IAS 36, of related disclosures given in Note 6. In respect of the Group's other mines, we undertook the following work on management's impairment indicator review: • We reviewed the LOM plans against our understanding of the operations, and critically challenged the key estimates and assumptions used by management for each of the mining operations by comparisons to current year actuals and through meetings with operational management, as detailed below. • We compared the trading performance against budget/plan for 2023 in order to evaluate the quality of management's forecasting and, where under performance against budget/plan was highlighted, evaluated the impact on the forecasts. • In respect of pricing assumptions, our testing included evaluation of management's gold price forecasts against analyst consensus forecasts. • We held meetings with management (mine managers, geologists, mining engineers) to understand and challenge the production, operating cost and capex forecasts. • We considered the appropriateness, with reference to IAS 36, of the related disclosures given in Note 6. Key observations: We found the key judgements made by management and the Board in assessing the LOM estimates and the carrying value of the Group's mining interests to be reasonable. We found the disclosures in the consolidated financial statements to be in line with the accounting standards.

ounces in the impairment models and the value at which they have been included.

• • We challenged management on the impact of climate change on the LOM models.

Risk that the estimates used for the reserves and resources are inappropriate. Accounting policy: Note 2 Notes 6, 12 and 13. As detailed in Notes 12 and 13, the Group's mining interests, including property, plant and equipment and goodwill, represent its most significant assets and total $4.3bn at 31 December 2023 Management is required to exercise significant judgement and estimation when preparing the reserves and resource models. The preparation of the reserves and resource models requires a high-level of geological technical skills and modelling experience, with there being a high degree of subjectivity and complexity in the model. Management make assumptions and estimates regarding geotechnical parameters, mining losses, extraction capacity and rates, future grade and recovery factors. The reserves estimates are a key input into the life of mine model as the driver of future economic benefit from operations. Furthermore, the reserve estimates also drive the depletion calculations for the underlying assets that are depreciated on a units of production basis. The inherent judgement involved in the reserves and resource estimates makes this a significant audit risk and a key area of focus for our audit.

We performed a detailed walkthrough of the group reserves and resource model process flow. We gained an understanding of the key controls around the mineral reserve estimates, including sign offs from the technical committee and final competent persons throughout the stages of the reserves modelling process. We performed an assessment of internal experts' competence, capabilities and objectivity to ensure that the individuals performing the sign offs are competent and capable of detecting errors within the resource models and the scope of their work is appropriate to be used as audit evidence. Where external experts were used, we also assessed their independence. Our assessment included confirmation that: • Key assumptions used in the preparation of Mine Resources were approved by Qualified Persons for Resources and Reserves; • The Ore Reserve Statement was reviewed by the General Manager's of each site, the SVP GTSOP, VP Resources and VP Mine Planning with the following items specifically inspected and approved: o reconciliation between opening and closing balance of ore reserves; o breakdown of reserves by mine site and deposit; o all persons responsible for approving the Mineral Resources and Ore Reserve Statement are qualified persons as defined and listed on the Ore Reserve Statement; and o the Final Ore Reserve Statement for disclosure purposes was approved by the Technical Committee. We obtained the Qualified Person's Report(s) ("QPR") for the mines and reviewed the report to assess the following: • Whether the scope of the QPR was appropriate for its purpose; • Whether the report clearly confirms that the scope was undertaken based on Canadian Institute of Mining - NI-43-101 requirements; • Whether any restrictions were placed upon the Qualified Person in completing the review; • Whether any significant uncertainties apply to the estimates and judgments outside of those considered routine for such reserve assessments; and • Whether movements reconcile the mineral reserves from the qualified persons report from 2022 to 2023. We performed testing on the Resources and reserves inputs including: • Assessment of changes to underlying key assumptions and their appropriateness based on our understanding of the business and the wider industry environment; • Testing a sample of costs to actual costs incurred in the year; • Testing a sample of assay results; • Testing the reasonability of the capital and operating costs included in the reserves model; • Review of any changes in cut-off grade in the current year; and • Reviewing the sensitivity of mineral resource estimates as part of the impairment assessment and obtaining an understanding of the plan for the mine in the following financial year and beyond to ensure this is in line with management's projections. Key observations: We found the key judgements in the determination of the Group's reserves and resources to be reasonable. We found the disclosures in the consolidated financial statements to be in line with the accounting standards.

Risks arising from the impact of the financial irregularities pertaining to the CEO dismissal on the financial statements. See Note 26, and Section 3 of the MD&A. As announced by the Directors on 4 January 2024, the Group's CEO Sebastian de Montessus was dismissed for serious misconduct following his admission that in March 2021 he had diverted the settlement of a $5.9m receivable, owed to Endeavour by a counterparty. The Directors engaged external forensic accountants and external legal advisers to undertake the internal investigation, which encompassed the review of a number of legacy transactions. As explained in Note 22, the investigation has concluded that there are a number of historical transactions where Sebastian de Montessus has misrepresented and concealed the nature of payments and the ultimate beneficiary of those transactions. Those transactions have no impact on either the 2023 or 2022 financial statements. The investigation has found no evidence of payments to politically exposed people, bribery or the purchase of unauthorised security equipment. There is a risk that the internal investigation has not identified all relevant transactions such that further accounting entries or disclosures would be required to recognise future liabilities or provisions for assets. There is also a risk that the internal investigation has not identified or disclosed related party relationships which may have influenced relevant transactions and therefore that the related party relationships and transactions disclosed in Note 22 are incomplete.

Our audit procedures included: With support from our internal forensic specialists, we assessed the nature, scope and objectives of the internal investigation to ensure that this was appropriately designed to address the potential risks raised including the fraud risk identified. We assessed the independence, objectivity and competence of the external forensic investigators to ensure that their work could be appropriately relied upon under the requirements of the applicable auditing standards. We reviewed key documents supporting the investigators work, including interview transcripts and document/data captures. We challenged the external investigators and the Board of Directors regarding the findings of the investigation and whether the scope of the investigation had met the objectives. In addition, to the above, further audit work was undertaken outside of the forensic investigation based on an escalated risk of management override and fraud. This included, but was not limited to: • Enhanced substantive testing of costs such as security, community spend and general/admin expenses through to supporting documentation and appropriate authorisation; • Assessment of key supplier contracts and procurement due diligence; • Third party confirmation or alternative procedures on key receivables held on the statement of financial position; • Verification of key transactions such as strategic mining licences and payments to government through to supporting documentation and appropriate approvals; and • Challenging the Directors and Management regarding the completeness and accuracy of related party disclosures. This included review of key M&A transactions and conclusions on whether the ex-CEO had control or significant influence over the third party. We assessed the compliance with IAS 24 Related Party Disclosures. We assessed of the completeness and accuracy of the disclosures in Note 22 and Section 3 of the MD&A. Key observations: Based on the procedures performed, we are satisfied that the results of the investigation have been appropriately disclosed. Following the internal forensic investigation and the performance of our audit procedures, we are satisfied that based on the evidence obtained that there is no direct material impact on the financial statements for the current year and the disclosures in the MD&A and Related Party note are complete and accurate based on the requirements of IAS 24 Related Party Disclosures.

Other Information

The Directors are responsible for the other information. The other information comprises the information included in the Management Discussion and Analysis.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

We obtained the Management Discussion and Analysis prior to the date of this auditor's report. If, based on the work we have performed on this other information, we conclude that there is a material misstatement of this other information, we are required to report that fact in this auditor's report. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRSs, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group's financial reporting process.

Auditor's Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• • Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.

• • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• • Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• • Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• • Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor's report is Matt Crane.

/s/ BDO LLP

Chartered Accountants London, UK

27 March 2024

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

Consolidated financial statements

Consolidated statement of comprehensive loss

(Expressed in Millions of United States Dollars, except per share amounts)

YEAR ENDED

31 December	31 December
Note	2023	2022
Revenue
Revenue	5	2,114.6	2,069.0
Cost of sales
Operating expenses	5	(787.2)	(720.0)
Depreciation and depletion	(448.4)	(476.0)
Royalties	(133.7)	(124.5)
Earnings from mine operations	745.3	748.5
Corporate costs	5	(49.0)	(47.7)
Other expenses1	5	(54.8)	(44.0)
Impairment of mining interests and goodwill	6	(122.6)	(2.8)
Share-based compensation	7	(28.7)	(32.8)
Exploration costs	(47.5)	(33.9)
Earnings from operations	442.7	587.3
Other expense
Loss on financial instruments	8	(118.0)	(19.1)
Finance costs, net	9	(71.2)	(61.1)
Earnings before taxes	253.5	507.1
Income tax expense	21	(210.8)	(250.3)
Net comprehensive earnings from continuing operations	42.7	256.8
Net loss from discontinued operations	4	(186.3)	(278.7)
Net comprehensive loss	(143.6)	(21.9)
Total comprehensive loss	(143.6)	(21.9)
Net (loss)/earnings from continuing operations attributable to:
Shareholders of Endeavour Mining plc	(23.2)	193.7
Non-controlling interests	19	65.9	63.1
42.7	256.8
Total earnings/(loss) attributable to:
Shareholders of Endeavour Mining plc	(208.9)	(57.3)
Non-controlling interests	19	65.3	35.4
(143.6)	(21.9)
Earnings per share from continuing operations
Basic loss per share, stated in US$ per share	7	(0.09)	0.78
Diluted loss per share, stated in US$ per share	7	(0.09)	0.78
Loss per share
Basic loss per share, stated in US$ per share	7	(0.85)	(0.23)
Diluted loss per share, stated in US$ per share	7	(0.85)	(0.23)

1. Other expenses include provision for expected credit losses of $22.8 million for 2023 (2022: $1 million).

The accompanying notes are an integral part of these consolidated financial statements.

8

Consolidated financial statements
Consolidated statement of cash flows
(Expressed in Millions of United States Dollars)
31 December	31 December
Note	2023	2022
Operating activities
Earnings before taxes	253.5	507.1
Non-cash items	20	844.8	623.1
Cash paid on settlement of DSUs and PSUs	(5.8)	(7.6)
Cash (paid)/received on settlement of financial instruments	(5.4)	17.9
Income taxes paid	(340.9)	(158.3)
Operating cash flows before changes in working capital	746.2	982.2
Changes in working capital	20	(126.9)	(72.6)
Operating cash flows generated from continuing operations	619.3	909.6
Operating cash flows generated from discontinued operations	4	27.2	107.5
Cash generated from operating activities	646.5	1,017.1
Investing activities
Expenditures on mining interests	20	(762.6)	(426.1)
Boungou loan advance	14	(5.8)	-
Changes in other assets	(13.3)	(8.5)
Proceeds from sale of financial assets	14	-	10.7
Proceeds from sale of non-mining assets	12	1.0	-
Purchase of marketable securities	14	(10.0)	-
Proceeds from sale of subsidiaries, net of cash disposed	4	16.5	2.2
Investing cash flows used by continuing operations	(774.2)	(421.7)
Investing cash flows used by discontinued operations	4	(46.6)	(99.7)
Cash used in investing activities	(820.8)	(521.4)
Financing activities
Acquisition of shares in share buyback	7	(61.5)	(98.7)
Payments from the settlement of tracker shares	17	(18.4)	(29.4)
Cash settlement of call-rights	17	(28.5)	-
Receipts on exercise of options and warrants	5.9	26.1
Dividends paid to minority shareholders	19	(74.7)	(54.4)
Dividends paid to shareholders	7	(200.4)	(166.6)
Proceeds of long-term debt	9	642.2	50.0
Repayment of long-term debt	9	(400.0)	(50.0)
Payment of financing fees and other	(68.6)	(45.6)
Repayment of lease liabilities	16	(20.5)	(13.7)
Settlement of contingent consideration	17	(50.0)	-
Financing cash flows used by continuing operations	(274.5)	(382.3)
Financing cash flows (used by)/generated from discontinued operations	4	(2.1)	2.2
Cash generated used in financing activities	(276.6)	(380.1)
Effect of exchange rate changes on cash and cash equivalents	17.0	(70.7)
(Decrease)/increase in cash and cash equivalents	(433.9)	44.9
Cash and cash equivalents, beginning of year	951.1	906.2
Cash and cash equivalents, end of year	517.2	951.1
The accompanying notes are an integral part of these consolidated financial statements.

YEAR ENDED

9

Consolidated financial statements
Consolidated statement of financial position
(Expressed in Millions of United States Dollars)
As at	As at
31 December	31 December
Note	2023	20221
ASSETS
Current
Cash and cash equivalents	517.2	951.1
Trade and other receivables	10	269.2	106.9
Inventories	11	224.9	320.7
Current portion of other financial assets	14	69.7	16.6
Prepaid expenses and other	39.2	51.1
1,120.2	1,446.4
Non-current
Mining interests	12	4,157.1	4,517.0
Goodwill	13	134.4	134.4
Other financial assets	14	123.2	87.4
Inventories	11	323.6	229.5
Total assets	5,858.5	6,414.7
LIABILITIES
Current
Trade and other payables	15	406.9	354.6
Lease liabilities	16	14.3	18.2
Current portion of debt	9	8.5	336.6
Other financial liabilities	17	17.5	89.1
Income taxes payable	21	166.2	247.1
613.4	1,045.6
Non-current
Lease liabilities	16	27.9	28.9
Long-term debt	9	1,059.9	488.1
Other financial liabilities	17	29.8	25.2
Environmental rehabilitation provision	18	115.1	165.0
Deferred tax liabilities	21	464.1	574.6
Total liabilities	2,310.2	2,327.4
EQUITY
Share capital	7	2.5	2.5
Share premium	50.7	25.6
Other reserves	7	594.3	592.4
Retained earnings	2,578.0	3,040.4
Equity attributable to shareholders of Endeavour Mining Plc	3,225.5	3,660.9
Non-controlling interests	19	322.8	426.4
Total equity	3,548.3	4,087.3
Total equity and liabilities	5,858.5	6,414.7

1. Marketable securities as of 31 December 2022 of $5.4 million was reclassified from "Prepaid Expenses and Other" to "Other Financial Assets".

Registered No. 13280545

COMMITMENTS AND CONTINGENCIES (NOTE 25)

SUBSEQUENT EVENTS (NOTE 26)

Approved by the Board: 27 March 2024

/s/Ian Cockerill Director

/s/Alison Baker Director

The accompanying notes are an integral part of these consolidated financial statements.