Fourth Quarter & Full Year 2021 Results

TSX: GCM | OTCQX: TPRFF

www.gcm-mining.com 1

Disclaimer

Forward-Looking Statements

This presentation contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, and, specifically, statements concerning anticipated growth in annual gold production, future cash costs and AISC, future G&A and capex, free cash flow, dividend payments, future debt repayments, mineral reserve and resource estimates, exploration programs, commencement of Toroparu operations, equity investments strategy, re-rating potential and other statements that are not historical facts. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 which is available for view on SEDAR atwww.sedar.com.

Forward-looking statements contained herein are made as of the date of this presentation and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

All amounts are denominated in U.S. dollars, unless indicated otherwise.

Met production guidance for 6

Returned $17M to shareholders…$11.5M in monthly dividends and $5.5M through NCIB purchases

Completed 97,000 meters of drilling at Segovia

Numerous high-grade intercepts

Increased M&I resources 14%, inferred resources 41%

Increased reserves by 18%

Solid financial results

Strong balance sheet

First company in Antioquia to immunize employees and families against COVID-19

Published inaugural ESG report in

June 2021

Completed Gold X acquisition, adding Toroparu Project as a cornerstone asset

Raised $300M with Senior Notes Offering

Updated mineral resource and validated economics in positive PEA

4th Quarter

Full Year

2021

2020

2021

2020

55,285

57,265

Gold production (ozs)

208,817

220,194

$1,782

$1,875

Realized gold price ($/oz) (1)

$1,794

$1,751

$821

$904

Cash cost ($/oz) (1)

$824

$768

$1,349

$1,382

AISC ($/oz) (1)

$1,207

$1,101

$93.6M

$99.7M

Revenue

$382.6M

$390.9M

$37.4M

$43.1M

Adjusted EBITDA (1)

$171.6M

$187.8M

$6.6M

($51.3M)

Net income (loss)

$180.0M

($27.6M)

$0.07

($0.59)

Per share

$2.25

($0.08)

$11.7M

$7.7M

Adjusted net income (1)

$71.6M

$75.9M

$0.12

$0.15

Per share

$0.87

$1.28

$27.4M

$29.5M

Operating cash flow

$80.6M

$136.4M

$12.2M

$5.8M

Free cash flow (1)

$26.2M

$73.6M

(1) Non-GAAP measure. Refer to Company's MD&A.

Warrants:

Market Capitalization

CA$571.7 million (1)

Common Shares 97.9 million

GCM.WT.B: 10.2 million @ CA$2.21 (2024 expiry)

Unlisted: 16.9 million @ CA$1.90 to CA$6.50 (2022-2024 expiry)

Stock Options: 3.0 million @ CA$2.55 to CA$6.88 (2022-2027 expiry)

Convertible Debentures

CA$18 million @ CA$4.75 (2024 expiry)

Senior Unsecured Notes due 2026

US$300 million at 6.875% coupon

52 Week High/ Low

CA$8.40/ CA$4.50

NCIB(2)

Commenced October 20, 2021. Bought back and cancelled 284,201 shares in January 2022; 856,902 cumulative

Fully Diluted 131.7 million shares

1,000,000

800,000

600,000

400,000

200,000

30-Dec-19

-

30-Mar-20

  • (1) Based on CA$5.84 at close on March 31, 2021.

    30-Jun-20

    30-Sep-20

    31-Dec-20

    31-Mar-21

  • (2) The NCIB will allow the Company to purchase for cancellation up to 9,570,540 Shares of the Company over a 12-month period ending October 19, 2022

$10.00

$8.00

$6.00

$4.00

$2.00

$0.00

30-Jun-21

30-Sep-21

31-Dec-21

31-Mar-22

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GCM Mining Corp. published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 12:44:04 UTC.