press release

Aura Announces Q3 2026 and 9M 2026 Financial and Operational Results

2026-11-06

NASDAQ - Nasdaq Stock Market · Corporate Finance

ROAD TOWN, British Virgin Islands, Nov. 06, 2026 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (NASDAQ: AUGO) (B3: AURA33) (“Aura” or the “Company”) announces that it has filed its audited consolidated financial statements and earnings release (together, “Financial and Operational Results”) for the period ended June 30, 2026. The full version of the Financial and Operational Results can be viewed on the Company’s website at www.auraminerals.com, on SEDAR+ at www.sedarplus.ca. or on SEC www.sec.com.

Rodrigo Barbosa, Aura’s President, and CEO commented: “Production was the highlight of the quarter: a new record of 96k GEO, taking us to 253k GEO year-to-date, the highest nine-month result in Aura’s history and keeping us firmly on track for our 340k–390k full-year guidance. Led by a record quarter at Borborema and the continued turnaround at MSG, this operational strength translated into solid financials, with nine-month Adjusted EBITDA of $677 million — nearly double last year and already ahead of all of 2025 — and Recurring Free Cash Flow of $124 million in the quarter, funding dividends, buybacks and expansion capex with leverage stable at 0.20x. We are also moving ahead on the projects that will drive the next stage of growth: Era Dorada remains on time and on budget, the Almas and Borborema expansions are progressing, and the recent fleet insourcing is set to provide cost savings starting next year. We are delivering strong results today while building a clear path toward more than 600k GEO annually._”_

Operational & Financial Headlines Q3 2026 and 9M 2026

| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % | | Total Production (GEO) | 95,557 | 75,437 | 27% | 74,227 | 29% | 253,131 | 198,347 | 28% | | Total Sales (GEO) | 93,794 | 78,414 | 20% | 74,907 | 25% | 253,576 | 197,850 | 28% | | | | | | | | | | | | Net Revenue | 385,977 | 335,967 | 15% | 247,832 | 56% | 1,104,550 | 600,072 | 84% | | Gross Profit | 222,631 | 191,477 | 16% | 149,609 | 49% | 642,936 | 331,976 | 94% | | Gross Margin | 58% | 57% | 1 p.p. | 60% | -3 p.p. | 58% | 55% | 3 p.p. | | Adjusted EBITDA | 236,871 | 196,659 | 20% | 152,105 | 56% | 677,399 | 339,808 | 99% | | Adjusted EBITDA Margin | 61% | 59% | 3 p.p. | 61% | 0 p.p. | 61% | 57% | 5 p.p. | | Net Income | 135,004 | 217,687 | -38% | 5,626 | 2300% | 447,849 | (59,476) | n.a. | | Net Income Margin | 35% | 65% | -30 p.p. | 2% | 33 p.p. | 41% | -10% | 50 p.p. | | Adjusted Net Income | 121,208 | 97,414 | 24% | 68,672 | 77% | 322,540 | 132,409 | 144% | | Adjusted Net Income Margin | 31% | 29% | 2 p.p. | 28% | 4 p.p. | 29% | 22% | 7 p.p. | | Cash Cost (US$/GEO) | 1,395 | 1,513 | -8% | 1,110 | 26% | 1,460 | 1,133 | 29% | | All In Sustaining cost (US$/GEO) | 1,953 | 1,985 | -2% | 1,396 | 40% | 1,921 | 1,433 | 34% | | | | | | | | | | | | Operating Cash Flow | 167,905 | 111,945 | 50% | 93,096 | 81% | 397,721 | 214,189 | 86% | | Net Debt/LTM Adjusted EBITDA | 0.20x | 0.21x | -0.01x | 0.15x | 0.05x | 0.20x | 0.15x | 0.05x | | Total CAPEX | 96,588 | 84,319 | 15% | 31,605 | 206% | 225,014 | 133,655 | 68% |

Except as otherwise noted in this document, references herein to “US$” or and “$” are to thousands of United States dollars

Headlines

Record High Production: Q3 2026 total production reached 95,557 GEO, a 27% increase compared to Q2 2026 and 29% higher than Q3 2025 at current metal prices (at constant prices, +26% QoQ and +25% YoY). In 9M 2026, Aura produced 253,131 GEO (255,268 GEO at constant prices), a 28% increase over 9M 2025 at current prices (+26% at constant prices) and the highest nine-month production in the Company’s history and on track to deliver its consolidated guidance of 340k – 390k GEO in 2026. Over the last twelve months, Aura produced 335,198 GEO at current prices, another record high and a 27% increase compared to the twelve-month period ended Q3 2025. Q3 2026 and 9M 2026 highlights: Aranzazu: 24,920 GEO (+39% QoQ; +16% YoY at current prices), mainly reflecting higher grades from mine sequencing, as planned, supported by favorable metal price effects on GEO conversion. The average realized copper price increased 6% QoQ to $6.46/lb, while the average realized gold price decreased 3% to $4,285/oz. At constant prices, production was +35% QoQ and +6% YoY, by higher grades and more copper contained in concentrate. In 9M 2026, total production reached 58,497 GEO (-9% YoY) at current prices. At constant prices, Aranzazu produced 60,634 GEO (-12% YoY), primarily due to lower grades anticipated for the first half of the year. Almas: 14,264 GEO (-12% QoQ; -5% YoY), mainly due to lower grades, reflecting the processing of additional ore following the plant expansion and in line with the mine sequencing plan, which moves into higher-grade areas in Q4. As result of the expansion plan, plant feed increased 31% YoY and 3% QoQ, with recovery stable at approximately 88%. In 9M 2026, production totaled 46,232 GEO (+12% YoY), as the higher plant feed enabled by the expansion more than offset the impact of lower grades. This result already represents 73% of the guidance high range. Apoena: 6,865 GEO (+20% QoQ; -26% YoY), with QoQ growth driven by a 27% increase in grade and higher plant feed, reflecting continued advancement of Phase 3 at the Nosde Pit, where access to the main higher-grade areas was completed during the quarter and which will be the primary source of ore in Q4. The YoY decrease was primarily due to lower plant feed and lower recovery rates. In 9M 2026, total production was 20,094 GEO (-24% YoY), mainly due to lower ore plant feed and lower grades. Aura expects higher grades in Q4 2026, keeping Apoena on track to meet its 2026 guidance. Borborema: 22,842 GEO (+60% QoQ; +124% YoY), a quarterly record for the operation, representing approximately 24% of Aura’s total production in Q3 2026. The increase QoQ was driven by higher grades (+42%, from 1.16 g/t to 1.65 g/t), reflecting access to higher-grade areas in line with the mine plan, and by a 14% QoQ increase in ore plant feed, supported by improved filtering performance. In 9M 2026, total production was 54,194 GEO, compared to 12,796 GEO in 9M 2025, considering that commercial production at Borborema started in the second half of 2025. This result already represents 70% of the guidance high range. Minosa: 13,344 GEO (-7% QoQ; -26% YoY), mainly due to lower ore plant feed, still an effect of the increase in stacking level within the leach pad, as seen in the previous quarter. In 9M 2026, production totaled 45,027 GEO (-16% YoY), mainly due to these impacts throughout the year. Even with the effects of the higher stacking level, Minosa has reached 71% of the low end of its 2026 guidance range. MSG: 13,321 GEO (+85% QoQ), driven by higher grades (from 0.90 g/t in Q2 2026 to 1.19 g/t in Q3 2026), an increase in ore plant feed (+28% QoQ) and a 1.9 p.p. improvement in recovery rate (89.6%), as the mine turnaround advances, with underground infrastructure and the transition to the bottom-up method progressing according to plan. In 9M 2026, production reached 29,087 GEO.

Sales Volumes: Q3 2026 sales were 93,794 GEO, a 20% increase QoQ and 25% YoY at current prices (+7% YoY excluding MSG), mainly due to higher sales at Borborema, which posted a quarterly record, Aranzazu and MSG improvements. In 9M 2026, Aura sold 253,576 GEO, up 28% YoY, a high record result. Net Revenues:Q3 2026 reached US$386.0 million, up 15% QoQ and up 56% YoY, driven mainly by higher sales volumes. In 9M 2026, Net Revenue was US$1,104.6 million, up 84% compared to the same period of last year, driven by higher sales and metal prices. Average realized gold prices: Q3 2026: US$4,202/oz (-2% QoQ, +24% YoY). 9M 2026: US$4,436/oz (+41% YoY). Average realized copper prices: Q3 2026: US$6.46/lb (+6% QoQ, +45% YoY). 9M 2026: US$6.12/lb (+41% YoY).

Adjusted EBITDA: Q3 hit US$ 236.9 million, up 20% QoQ and up 56% YoY. Driven by increase in production/ sales between the periods and also metal prices when compared YoY. In 9M 2026, Adjusted EBITDA hit US$ 677.4 million, almost double of the previous year and already 24% above the full year of 2025, also benefited by increase in production/sales and more favorable metal prices. AISC Performance: Q3 2026 AISC was US$1,953/GEO, a 2% decrease QoQ, as the lower AISC at Aranzazu (-25%), driven by higher grades, sales volumes and more favorable copper to gold price ratio, and at MSG (-30%), as the 85% increase in volumes diluted costs combined with higher grades, more than offset the increases at Apoena (+33%, as the increase in grade did not offset the higher sustaining CAPEX), Minosa (+15%, due to lower sales), Borborema (+14%, due to higher mine development cost as the strip ratio increased from 2.1x to 4.6x) and Almas (+6%, as lower grades). MSG (US$3,647/GEO) and Apoena (US$3,554/GEO) remained the highest AISC in the quarter, reflecting the final phases of the turn-around and the development of the Nosde pit, respectively. Compared to Q3 2025, AISC increased 40%, largely driven by the consolidation of MSG; excluding MSG, AISC was US$1,673/GEO, in line with Q2 2026 ex-MSG and up 20% YoY. In 9M 2026, AISC was US$1,921/GEO. Recurring Free Cash Flow: Q3 2026 US$123.5 million, +54% QoQ, benefited by higher Adjusted EBITDA and lower income taxes and hedges payments, offsetting increased CAPEX (+32% QoQ as part of the Company’s plan and in line with Guidance), and increase in working capital (stockpile and VAT). Compared to Q3 2025, RFCF increased by 66% mainly related to the higher Adjusted EBITDA. In 9M 2026, US$295.0 million (+82% YoY). Net Income: US$135.0 million, -38% QoQ mainly due to lower unrealized gain with gold derivatives (US$12.7 million in Q3 26 vs. US$126.0 million in Q2 2026). In 9M 2026, net income was US$447.8 million, benefited from an Operating Income and positive accounting impact of unrealized gains with gold derivatives. Excluding non-cash gain, mainly related to the MTM of gold collars, adjusted net income was US$121.2 million, +24% QoQ and +77% YoY, for the reasons discussed above.

Net Debt Position and Financial Leverage: Q3 2026 Net Debt of US$178.8 million (0.20x Net Debt/Adjusted EBITDA LTM), almost stable when compared to the previous quarter. Dividends and shares buybacks of US$71 million and expansion capex of US$55 million were almost entirely financed by Recurring Free Cash Flow of US$ 123.5 million. Advancing Construction, Environment, and Community at Era Dorada, on time and on budget: Construction: physical progress reached 13.1%. Civil works advanced across the main process areas, and the project is moving toward electromechanical construction. Underground mine: development ramping up. The mining contractor mobilized, delineation and ventilation raise drilling began, and underground infrastructure and equipment are being deployed on site. Workforce: site activity grew significantly, with about 795 people on site, 57% from Asunción Mita. Safety: more than 711,000 work hours and 622 days without a lost-time injury. Community: engagement continued alongside construction through the Development Roundtables and Casa Era Dorada.

OTHER UPDATES:

Syndicated Loan Facility:On September 18, 2026, Aura contracted a US$200 million syndicated loan facility. The facility bears interest at SOFR + 2.70% per year, with a two-year grace period and a five-year maturity. The transaction further diversifies Aura’s funding sources and supports its growth strategy, including the construction of Era Dorada, the expansion of production capacity at Almas, the expected expansion of Borborema, and its medium-term target of producing over 600k GEO per year.

Mining Fleet Insourcing: On October 2, 2026, Aura announced that it had signed a definitive agreement to acquire a company (“Newco”) that holds the mining fleet, related equipment leases and dedicated workforce currently operated by a third-party contractor at the Apoena, Almas and Borborema gold mines, bringing fleet operation and maintenance in-house (the “Insourcing”), with the transition targeted for January 2027. The agreed Enterprise Value is R$612 million (approximately US$118 million, based on an exchange rate of R$5.18/US$1.00), of which up to R$250 million will be paid in cash, with the remainder consisting of the assumption of existing equipment lease financing and other contingent payments, a portion of which is subject to performance during the transition period. Based on the Company’s internal estimates, the Insourcing is expected to reduce all-in sustaining costs (AISC) by US$150 to US$200 per ounce of gold sold, on a weighted-average basis across the three operations, beginning in 2027. Closing is subject to customary conditions precedent, including clearance from Brazil’s Administrative Council for Economic Defense (CADE). MSG already operates its fleet mine directly.

Results Teleconference:

Date: November 6, 2026 Time: 11 a.m. (Brasília) | 9 a.m. (New York and Toronto) Link to access: Click here

2. Consolidated Financial Results

2.1 Total Production and Sales (GEO)

| (GEO) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % | | Production | | | | | | | | | | Aranzazu | 24,920 | 17,882 | 39% | 21,534 | 16% | 58,497 | 64,271 | -9% | | Apoena | 6,865 | 5,704 | 20% | 9,248 | -26% | 20,094 | 26,343 | -24% | | Minosa | 13,344 | 14,284 | -7% | 18,138 | -26% | 45,027 | 53,831 | -16% | | Almas | 14,264 | 16,130 | -12% | 15,088 | -5% | 46,232 | 41,107 | 12% | | Borborema | 22,842 | 14,251 | 60% | 10,219 | 124% | 54,194 | 12,796 | 324% | | MSG | 13,321 | 7,186 | 85% | n.a. | n.a. | 29,087 | n.a. | n.a. | | Total | 95,557 | 75,437 | 27% | 74,227 | 29% | 253,131 | 198,347 | 28% |

| (GEO) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % | | Sales | | | | | | | | | | Aranzazu | 23,250 | 17,764 | 31% | 21,514 | 8% | 57,232 | 64,260 | -11% | | Apoena | 6,864 | 5,704 | 20% | 9,249 | -26% | 20,093 | 26,876 | -25% | | Minosa | 13,630 | 15,296 | -11% | 17,827 | -24% | 46,392 | 53,189 | -13% | | Almas | 14,264 | 17,921 | -20% | 15,089 | -5% | 46,232 | 41,107 | 12% | | Borborema | 22,454 | 14,539 | 54% | 11,228 | 100% | 53,601 | 12,418 | 332% | | MSG | 13,331 | 7,191 | 85% | n.a. | n.a. | 30,025 | n.a. | n.a. | | Total | 93,794 | 78,414 | 20% | 74,907 | 25% | 253,576 | 197,850 | 28% | | | | | | | | | | |

Applies the metal sale prices in Aranzazu realized during Q3 2026: Copper price = US$6.46/lb; Gold Price = US$4,285/oz; Silver Price = US$63.25/oz and Molybdenum Price = US$33.05/lb.

Production

In Q3 2026, total production reached a record 95,557 gold equivalent ounces (“GEO”), up 27% from Q2 2026 and 29% from Q3 2025 at current metal prices. At constant metal prices, production grew 26% QoQ and 25% YoY, confirming that the improvement was driven mainly by operational performance rather than by price effects.

QoQ drivers:

Aranzazu:mine sequencing reached higher grades, with copper at 1.51% vs. 1.27% in Q2. Favorable metal prices in the copper-to-GEO conversion added to the gain. Borborema:record quarter. Grade rose 42% to 1.65 g/t (vs. 1.16 g/t) and plant feed rose 14% on better filtering. MSG:production up 85% as the turnaround advanced. Plant feed rose 28% to 381,060 t, grade improved to 1.19 g/t (vs. 0.90 g/t) and recovery gained 1.9 p.p. to 89.6%.

Lower grades at Almas and lower production at Minosa partially offset these gains. Both should recover in Q4, while Apoena is also expected to improve: Almas moves into higher-grade zones, and at Apoena, access to the main higher-grade areas of Phase 3 of the Nosde Pit was completed in Q3.

YoY drivers:

Addition of MSGand better performance at Borborema, on higher grades and higher ore plant feed. Aranzazu, on favorable metal prices and higher copper content in concentrate. Lower output at Apoena, Almasand Minosatrimmed the gain, with Minosa still affected by the higher stacking level within the leach pad, as seen in the previous quarter and Apoena and Almas impacted mainly by mine sequencing.

In 9M 2026, production reached a record 253,131 GEO, the highest nine-month output in Aura’s history, up 28% at current metal prices and 26% at constant prices (255,268 GEO) from the 198,347 GEO produced in 9M 2025. These results put Aura on track to meet its 2026 consolidated production guidance of 340k–390k GEO, with 9M production representing 74% of the low end and 65% of the high end of the range.

Over the last twelve months, Aura produced 335,198 GEO at current prices, another record high and a 27% increase compared to the twelve-month period ended Q3 2025.

Sales

The same drivers shaped sales in Q3 2026, which totaled 93,794 GEO, a 20% increase compared to Q2 2026 and 25% higher than Q3 2025 (+7% excluding MSG). Aranzazu sales were lower than production in the quarter because the last shipment of the period was still in transit to the refinery. In 9M 2026, Aura sold 253,576 GEO, up 28% YoY (+13% excluding MSG).

2.2. Net Revenue

| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % | | Aranzazu | 89,426 | 74,825 | 20% | 67,094 | 33% | 233,429 | 179,864 | 30% | | Apoena | 28,998 | 25,376 | 14% | 31,223 | -7% | 90,188 | 84,287 | 7% | | Minosa | 55,570 | 64,286 | -14% | 59,204 | -6% | 199,876 | 163,042 | 23% | | Almas | 60,362 | 79,322 | -24% | 51,329 | 18% | 208,377 | 130,207 | 60% | | Borborema | 95,263 | 63,242 | 51% | 38,982 | 144% | 240,493 | 42,672 | 464% | | MSG | 56,358 | 28,916 | 95% | n.a. | 0% | 132,187 | n.a. | 0% | | Total | 385,977 | 335,967 | 15% | 247,832 | 56% | 1,104,550 | 600,072 | 84% | | | | | | | | | | |

Q3 2026 Net Revenue was US$386.0 million, up 56% YoY on higher sales and metal prices. The average realized gold price rose 24% and copper rose 45%. Quarter-over-quarter, Net Revenue rose 15% on higher sales, partially offset by a lower realized gold price.

By mine:

Borborema:US$95.3 million (25% of total), up 51% QoQ and 144% YoY, on record production and sales, higher grades and plant feed, and higher gold prices. Aranzazu:US$89.4 million, up 20% QoQ and 33% YoY, on higher grades and sales and a 6% QoQ rise in the realized copper price to US$6.46/lb. Almas:US$60.4 million, down 24% QoQ on lower sales and grades due to mine sequence and in line with the plan. It was up 18% YoY because higher gold prices more than offset lower volumes. MSG:US$56.4 million, up 95% QoQ as the turnaround advanced and production rose 85%. Minosa:US$55.6 million, down 14% QoQ and 6% YoY on lower production/ sales as explained. Apoena:US$29.0 million, up 14% QoQ on higher grades and sales, down 7% YoY.

In 9M 2026, Net Revenue was US$1,104.6 million, up 84% YoY, primarily driven by the strong increase in production of 28% as discussed above and the increase of 41% in the average realized gold price (US$4,436/oz vs. US$3,146/oz).

2.3. Cost and Gross Profit

| (US$ thousand) | Q3 2026 | Q2 2026 | QoQ Change % | Q3 2025 | YoY Change % | 9M 2026 | 9M 2025 | Change % | | Net Revenue | 385,977 | 335,967 | 15% | 247,832 | 56% | 1,104,550 | 600,072 | 84% | | Cost of goods sold | (163,346) | (144,490) | 13% | (98,223) | 66% | (461,614) | (268,096) | 72% | | Cost of production | (85,452) | (72,546) | 18% | (44,745) | 91% | (241,526) | (134,134) | 80% | | Cost of production – Contractors | (23,058) | (23,132) | 0% | (26,437) | -13% | (62,779) | (59,433) | 6% | | Direct mine and mill costs – Salaries | (22,352) | (22,944) | -3% | (11,983) | 87% | (65,992) | (30,659) | 115% | | Depreciation and amortization | (32,484) | (25,868) | 26% | (15,058) | 116% | (91,317) | (43,870) | 108% | | Gross Profit | 222,631 | 191,477 | 16% | 149,609 | 49% | 642,936 | 331,976 | 94% | | Gross Margin | 58% | 57% | 1 p.p. | 60% | -3 p.p. | 58% | 55% | 3 p.p. | | | | | | | | | | |

In Q3 2026, Cost of Goods Sold (COGS) totaled US$163.4 million, up 13% from Q2 2026 and 66% from Q3 2025. QoQ, it was driven mainly by Borborema, on a higher strip ratio and MSG, as expected given the greater volume of ore moved. Over Q3 2025 (YoY),it was driven by the Company’s larger asset with the addition of MSG (acquisition closed in Dec 2025) added US$40.9 million and Borborema (commercial production in Sep 2025) US$17.4 million.