Eldorado Gold : 2023 Sustainability Report

SUSTAINABILITY

FROM THE GROUND UP

E L D O R A D O G O L D   |   2023 S U STA I N A B I L I T Y R E P O RT

ELDORADO GOLD   |   2023 SUSTAINABILIT Y REPORT

SUSTAINABILITY FROM THE GROUND UP

| Kışladağ, Türkiye

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ELDORADO GOLD

About Eldorado	3
About This Report	4
2023 Sustainability Highlights	5
Message From the President and CEO	6
Where We Operate	8
Operating Mines	9
Development Projects	10
Care and Maintenance	10
Non-core Asset	10
Exploration	11
Skouries	12
Our Approach to Responsible Mining	15
Our Vision and Values	15
Our Sustainability Framework	16
Our Sustainability Policies	16
Our Sustainability Integrated
Management System	17
External Frameworks and Commitments	17
UN Sustainable Development Goals	19
Our Sustainability Materiality Approach	21
Defining Materiality	21
Determining Materiality	21
Materiality Process	22
Materiality Matrix	23
Our Performance Targets	24
2023 Sustainability Achievements	24
2024 Sustainability Targets	25
Governance and Transparency	26
Board of Directors	26
Senior Management	26
Governance Policies	27
Sustainability Factors in Compensation	27
Eliminating Bribery and Corruption	27
Transparency of Payments to Governments	27

28

SAFE, INCLUSIVE AND INNOVATIVE OPERATIONS

Occupational Health and Safety	29
Responsibility for Safety	29
Health and Safety Management Systems	30
Strengthening Our Safety Culture	31
Technology and Innovation to Improve
Health and Safety	31
Technology to Improve Tailings Safety	33
Health and Safety Training	33
Contractor Safety	34
Health and Safety Beyond the Mine	34
Emergency Preparedness	34

Inclusive Diversity	35
Diversity in Leadership	35
Supporting Opportunities for Women
and Other Designated Groups	36
Inclusive Diversity in Our Workforce	38
Training and Professional Development	40
Labour Standards	41

42

RESPONSIBLY PRODUCED PRODUCTS

Product Responsibility	43
The Value We Create: How Our Products
Contribute to Society	44
Safe Product Handling	45
Contractor and Supplier Management	46

Human Rights	47
United Nations Global Compact	47
Responsible Sourcing	47
Security	48

Responsible Gold Mining Principles	49
Summary of RGMP Conformance	50
Toward Sustainable Mining	51

52

ENGAGED AND PROSPEROUS COMMUNITIES

Engagement	53
How We Interact With Stakeholders	54
Engaging With Governments	56
Engaging With Indigenous Peoples	56
Complaints and Grievances	57
Community Investment	58
Community Investment Categories	58
Corporate Giving	59
2023 Community Investment Highlights	60
Local Employment and Procurement	62
Our Workforce	62
Our Contractors	65

66

HEALTHY ENVIRONMENTS, NOW AND FOR THE FUTURE

Environmental Compliance	67
Environmental Management Systems	67
Environmental Impact Assessments	67
Energy and Climate Change	68
Climate-Related Risks, Opportunities
and Impacts	68
Physical Risks and Opportunities	68
Transition Risks and Opportunities	70
Our GHG Emissions Mitigation Target	70
Energy	71
Greenhouse Gas Emissions	72
Tailings and Waste	75
Implementing Leading Practices	75
Tailings and Waste Management	76
Water and Air	82
Water Use	82
Air and Dust	88
Biodiversity and Reclamation	89

92

2023 DISCLOSURE INDEX

2	Eldorado Gold 2023 Sustainability Report

Eldorado Gold

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About Eldorado

2023 KEY FACTS AND FIGURES

Eldorado Gold Corporation ("Eldorado" or the "Company") is a Canadian mid-tier gold mining company, with shares trading on the Toronto (TSX: ELD) and New York (NYSE: EGO) stock exchanges.

Eldorado produced 485,139 ounces of gold in 2023 and, as of September 30, 2023, had proven and probable gold reserves of over 11.7 million ounces at an average grade of 1.04 Au g/t.6 Eldorado has assets in Canada, Türkiye, Greece and Romania.1 The Company's activities involve all facets of mining, including exploration, development, production, closure and rehabilitation. Headquartered in Vancouver, the Company directly employs over 4,800 people worldwide. Eldorado's approach to business is based on our vision to build a safe, sustainable and high-quality business in the gold mining sector, creating value today and for future generations. Eldorado had a market capitalization on the NYSE of approximately $2.9 billion as of March 31, 2024, and revenues of approximately $1 billion in 2023. For more information on Eldorado, our entities and our performance, please see our 2023 Annual Information Form on our website at www.eldoradogold.com/investors/financial-information/filings.

4,869

employees and contractors

Presence in

4 Countries

Canada, Greece, Türkiye and Romania1

5 Mines

Kışladağ, Efemçukuru, Lamaque Complex,2 Olympias and Stratoni3

2 Development Projects

Skouries4 and Perama Hill5

485,139 oz of Gold

produced in 2023

11.7 Moz of Gold

in proven and probable reserves at an average grade of 1.04 Au g/t, as of September 30, 20236

31 Years

of experience building and operating mines globally

3 Eldorado Gold 2023 Sustainability Report

1. The Company intends to sell its interest in the Certej project within the next 12 months.
2. The Lamaque Complex includes the Triangle Mine (Upper and Lower), the Ormaque Deposit, the Parallel Deposit, the Plug #4 Deposit and the Sigma Mill.
3. Stratoni was in care and maintenance during 2023. In this report, references to "Stratoni" or "the Stratoni mine" include the nearby Mavres Petres mine from which ore was processed at the Stratoni plant. Stratoni is also the site of the Stratoni Port Facility for the Kassandra Mines (Olympias, Skouries and Stratoni).
4. The Skouries development project was in care and maintenance during the first quarter of 2023, when it resumed construction, and is approximately 73% constructed as of March 31, 2024.
5. The Perama Hill development project is currently in care and maintenance.
6. Proven gold reserves of approximately 7,093,000 contained Au ounces at an average grade of 0.90 Au g/t and probable gold reserves of approximately 4,624,000 contained
   Au ounces at an average grade of 1.35 Au g/t, as of September 30, 2023. Please refer to the advisories at the end of this report for more information on the mineral reserves and mineral resources. For more information, please follow www.eldoradogold.com/assets to see the Resources and Reserves page of our website and to read the latest Technical Report for each of Eldorado's assets.

Eldorado Gold

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About This Report

This report has been produced with reference to the Global Reporting Initiative (GRI) Universal Standards and Topic Standards. We have also aligned our disclosures with our Communication on Progress for the United Nations Global Compact in support of the Sustainable Development Goals, the Sustainability Accounting Standards Board (SASB) - Metals & Mining Standard and the UN Guiding Principles Reporting Framework.

This report includes data on Eldorado's four mines that operated in 2023, as well as one development project under construction, two assets in care and maintenance, and one non-core asset. Performance analyses and discussions generally focus on our producing assets - Kışladağ, Lamaque, Efemçukuru and Olympias. Data represents the full 2023 calendar year and, unless otherwise noted, all costs are reported in U.S. dollars. Although the Sustainability Report is not externally verified, all data and content have been prepared and reviewed internally by our management teams and the Sustainability Committee of the Board of Directors. A change in this report from our 2022 Sustainability Report is the removal of data representing payments to governments through taxes, royalties and fees in the section "Transparency of Payments

to Governments" and we now make reference to our annual Extractive Sector Transparency Measures Act (ESTMA) report that is filed and available on our website. We are also working to continually improve our reporting to align with leading external standards, and resultant changes in this report include disclosing workforce-related data according to updated age ranges; comprehensive disclosure of waste-related data, providing additional detail into our interactions with water on a site-by-site basis, and newly providing data

on IUCN Red List species with habitats affected by our operations. We have also included content to support our status of conformance to the World Gold Council's (WGC) Responsible Gold Mining Principles (RGMP), which was previously done through our standalone RGMP Reports, and provide a summary of our externally verified Mining Association of Canada (MAC) Towards Sustainable Mining (TSM) results. Please note that, where applicable, restatements of prior year data have been identified in footnotes throughout the Report. Restatements occur as a result of updated assumptions or more accurate data becoming available after the publication of our previous Sustainability Report on May 31, 2023.

We welcome feedback from all stakeholders regarding our sustainability reporting. Please direct comments or requests for further information to Investor Relations by following www.eldoradogold.com/contact-us.

OTHER IN-COUNTRY SUSTAINABILITY REPORTING

In addition to this report, our Greek subsidiary, Hellas Gold S.A., regularly publishes a Social Responsibility Performance Summary, and Eldorado Gold (Quebec)

Inc. (Eldorado Gold Québec) produces an annual Social Responsibility Report for local stakeholders.

ALIGNMENT WITH REPORTING FRAMEWORKS

A 2023 Disclosure Index containing Eldorado's alignment with GRI, SASB and UNGP Reporting Framework
can be found at the end of this report.	| Efemçukuru, Türkiye

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Eldorado Gold 2023 Sustainability Report

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2023 Sustainability Highlights

Safe, Inclusive and Innovative Operations

56% Women

on our Board of Directors, and 11% self-identified as a member of another designated group

Reduced

Potentially fatal occurrence frequency rate by 20% at our operations

Achieved target

to reduce lost-time injury frequency rate (LTIFR) by 10% from 2022, with the lowest LTIFR in our 12 years of reporting

Missed target

to reduce total recordable injury frequency rate (TRIFR) by 10% from 2022

Supported diversity within our supply chain

through multiple partnerships as part of our continued sponsorship of the Artemis Project, which brings together women-led businesses related to mining

Responsibly Produced Products

SIMS

Olympias completed a Sustainability Integrated Management System Compliance Verification, including external verification of MAC-TSM results, and Eldorado received assurance of full conformance to RGMP Year 3 requirements

Voluntary

Principles on

Security and

Human Rights

being implemented at all operating mines after initial human rights assessments performed by a third party in 2021-2022

Supplier Code

of Conduct

formally adopted across our global operations, to help our suppliers align with Eldorado's standards for health and safety, labour and human rights, environment, social performance and more

Engaged and Prosperous Communities

79%

of our employees are from local communities

99%

of our employees and contractors are from countries of operation

$4.29M

in community investment

$693M

paid to domestic suppliers

Zero

major social incidents

Healthy Environments, Now and For the Future

		Industry
		leader
		in dry-stack tailings implementation
CO2		0.40 tCO2e/oz Au
		average Scope 1 and Scope 2
		GHG emissions intensity for
		operating mines

First electric haul truck

operationalized at Lamaque, which is expected to mitigate an estimated 1,700 tCO2e per year, based on preliminary testing

Zero

major environmental incidents

MAC-TSM

Level AAA

achieved at Olympias on Biodiversity Conservation Management and Tailings Management, based on a verified assessment

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Message From the President and CEO

At Eldorado, we consider sustainability in everything we do, from the relationships we build with local communities to the implementation of socially and environmentally responsible best practices. We are breaking new ground, and we are unafraid to explore new avenues if it means we can find a better path forward.

2023 YEAR IN REVIEW

We made significant progress on our goals this year, reaching key milestones on initiatives that will continue to drive Eldorado forward, creating value today and for future generations. This progress would not be possible without the hard work, collaboration and innovation of our employees around the world. It has been inspirational to see our team members' dedication to finding a better way to operate our business, and

I truly appreciate everyone's efforts - we all share in these successes.

Our mines in Québec and Greece achieved record gold production in 2023, and across all four operating mines, we produced 485,139 ounces of gold, achieving our guidance. This year, we also restarted full construction on the copper-gold Skouries project. Skouries provides us with a unique opportunity to incorporate leading sustainability technologies and practices, such as a comprehensive Environmental Monitoring System and dry-stack tailings.

In November, our team received the Outstanding Achievement Award for Project Financing at the Resourcing Tomorrow Awards. This award recognizes our work on the Skouries project in Greece, which created a unique financing package with contributions by two Greek banks (National Bank of Greece and Piraeus Bank), a Recovery and Resilience Facility (RRF) loan, provided by the EU via the Greek State, and a strategic investment by the European Bank for Reconstruction and Development (EBRD).

OUR SUSTAINABILITY FRAMEWORK IN ACTION

Health, safety and sustainability are key to our company strategy and Eldorado's current and future success. All of our efforts are guided by our Sustainability Framework and our Sustainability Integrated Management System (SIMS), which provides performance-based standards for all Eldorado sites.

In May 2023, we held our second SIMS compliance verification at Olympias in Greece. In collaboration with our Hellas Gold team on the ground, our global team of subject matter experts conducted interviews, document reviews and extensive tours and inspections of the mine site. In June, Olympias received minimum Level A or Yes across nearly all MAC-TSM performance indicators, including Level AAA for Biodiversity Conservation Management and Tailings Management.

We completed assurance against the WGC Conflict-Free Gold Standard (CFGS) for our 2022 operations and full conformance to RGMP Year 3 requirements.

We also launched our first-ever Supplier Code of Conduct, an essential addition to our policies and an important step in our responsible supply chain journey. The Supplier Code of Conduct helps to fulfill a requirement of the RGMPs, TSM and SIMS.

Last year, we were also proud to be included in the Globe and Mail's 2023 Board Games, where in recognition of our governance and disclosure practices, we ranked first in our sector (Materials) and 27th overall.

STRENGTHENING OUR FOUNDATIONS IN HEALTH AND SAFETY

People are at the core of our business, and their health and safety is the top priority in everything we do. Our safety-first culture reflects a commitment to our people, their families and the communities in which we operate.

In 2023, we evolved our process for investigating and sharing outcomes and learnings for Potentially Fatal Occurrences (PFO), the most significant health and safety events in mining. We have since seen progress, with a 20% reduction in our PFO frequency rate and a 63% reduction in our lost-time injury frequency rate at our operations. At Kışladağ, we're pleased to report a fourth consecutive year with no lost-time injuries.

In recognition of our safety best practices, our teams received several safety awards in 2023. For innovation and efforts to mitigate risks in the industry, we received the Euromines Silver Safety Award in Türkiye. Meanwhile in Greece, Hellas Gold received two awards for the development and implementation of new safety systems.

Although external recognition is gratifying, hearing from our team members around the world is one of our best measures of progress. In 2023, we held our first health and safety perceptions survey and received feedback from nearly 70% of our global workforce. Alongside technological advancements, subject matter expertise and industry best practices, this feedback will help guide our approach to health and safety in the future.

While we're proud of our progress, we cannot rest on our laurels as we know there's still more to do to ensure the health and safety of our people.

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Message From the President and CEO

LEVERAGING NEW TECHNOLOGIES

The mining sector is home to many exciting innovations, from automated mucking systems to technologies that support grid decarbonization. We're strong believers in the power of technology and innovation to improve health, safety and sustainability, contributing to not just a better business, but a better world.

In 2023, we introduced our first electric ore haul truck at our underground Lamaque Complex in Québec - a first in the Canadian province. Lamaque is already our lowest GHG-emitting operational mine, benefiting from Québec's abundance of hydroelectricity and the implementation of on-site energy efficiency projects. An additional electric haul truck was delivered in the first quarter of 2024, and once fully operational, the trucks are expected to mitigate 1,700 tCO2e of GHG emissions per year.

The electric haul trucks also bring more tangible benefits for our employees on site and for our business by reducing underground diesel emissions and lowering operating costs with improvements in production efficiency.

INVESTING IN COMMUNITIES WHERE WE WORK

We work hard to support the development goals of our host communities and governments. Last year, our community investment team implemented guidance to allow us to prioritize projects that promote long-term community development and build trust with local stakeholders.

All of our sites have robust community investment programs and have made significant progress on projects in 2023. In Québec, our Lamaque team continued long-standing and large-scale partnerships with community organizations to support education, health and wellness, arts and culture, and economic development.

At our Kassandra Mines (Olympias, Skouries and Stratoni) in Greece, and in collaboration with local communities, Hellas Gold established an investment framework to allocate $80 million over 25 years related to our Kassandra Mines' investments. Community investments in Greece targeted advancements in infrastructure, education and youth, and the economic and professional empowerment of women.

Improving support, training and access to resources for women entrepreneurs was also a focus for our Türkiye sites in 2023. At Efemçukuru, the "Productive Women, Strong Futures" program supports the social and economic empowerment of local women. Launched in 2022 and expanded in 2023, the program provides women entrepreneurs living in the region with certified beekeeping training and entrepreneurial coaching.

In addition to the social and economic benefits of the program, "Productive Women, Strong Futures" has a positive environmental impact - beekeeping contributes to biodiversity and is considered a sustainable and environmentally friendly practice.

At Kışladağ, our community team is supporting local economic diversification through its "Women Entrepreneur Vision" program, led in partnership with Women-Friendly Brands. The program provides women entrepreneurs with mentorship, support in seeking grants and financial incentives and cooperatives, and training for essential skills including financial literacy, e-commerce and digital marketing.

RESPONDING TO EMERGENCIES

On two occasions this year, our teams around the world were called to respond to local emergencies that have had severe and enduring impacts.

I want to thank our teams in Türkiye for their immediate and unwavering response to the earthquakes that devastated the country on February 6, 2023. Our teams are trained in search and rescue, and to see their bravery and readiness to take action to save lives was incredibly moving. The entire Eldorado team applauds your efforts.

And in Québec, facing the worst wildfire season on record, our Lamaque team helped support the local community in whatever ways they could, including providing food and support for evacuees from impacted communities.

AN EYE ON THE FUTURE

Looking ahead, we're excited to build on our hard work and achievements from the last year. We will continue to advance construction of the copper-gold Skouries project in Greece, which is expected to reach first production in the third quarter of 2025, and commercial production at the end of 2025. Skouries is expected to produce an average of 140,000 ounces of gold and 67 million pounds of copper per year, making Eldorado one of the European Union's larger copper producers and a key supplier of the critical mineral set to drive the green economy.

In Québec, we look forward to putting a second electric ore haul truck into service. The use of electric trucks on site will bring significant GHG emissions reductions, as well as health and safety benefits. They serve as a reminder that, where feasible, electrification is a powerful tool as we work toward decarbonization.

After positive results in our SIMS Compliance Verifications at Lamaque and Olympias in the previous two years, which included external verification of TSM results and assurance of full conformance against the RGMPs, our sites in Türkiye plan to undergo the same process in 2024.

Our entire Eldorado team is committed to finding a better way to do things. We break ground in all that we do and are committed to leveraging the latest technology and innovations to set industry standards and best practices. I'm pleased to share the work our global teams have advanced this year and look forward to continuing this progress in 2024 and beyond.

Sincerely,

George Burns

President & CEO

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Eldorado Gold 2023 Sustainability Report

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Where We Operate

HEAD OFFICE,

VANCOUVER

CANADA

LAMAQUE COMPLEX1

ROMANIA

CERTEJ2

EUROPEAN

REGIONAL OFFICE,

AMSTERDAM, NETHERLANDS

GREECE

KASSANDRA MINES

OLYMPIAS

SKOURIES3

STRATONI4

PERAMA HILL

TÜRKIYE

KIŞLADAĞ

TÜRKIYE

EFEMÇUKURU

Operating Mines

Care and Maintenance

Development Projects	1	The Lamaque Complex includes the Triangle Mine (Upper and Lower), the Ormaque Deposit, the Parallel Deposit, the Plug #4 Deposit and the Sigma Mill.
2	The Company intends to sell its interest in the Certej project within the next 12 months.
	3	The Skouries development project was in care and maintenance during the first quarter of 2023, when it resumed construction, and is approximately 73% constructed as of March 31, 2024.
Office	4	Stratoni was in care and maintenance during 2023. In this report, references to "Stratoni" or "the Stratoni mine" include the nearby Mavres Petres mine from which ore was historically
	processed at the Stratoni plant. Stratoni is also the site of the Stratoni Port Facility for the Kassandra Mines.

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Eldorado Gold 2023 Sustainability Report

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OPERATING MINES

Kışladağ		Efemçukuru		Lamaque Complex2		Olympias
Location:		Location:		Location:		Location:
Uşak Province, Türkiye		İzmir Province, Türkiye		Québec, Canada		Halkidiki Peninsula, Greece
Commodities:		Commodities:		Commodities:		Commodities:
Gold		Gold		Gold		Gold, silver, lead, zinc
Type of deposit:		Type of deposit:		Type of deposit:		Type of deposit:
Gold porphyry		Epithermal vein		Orogenic gold		Polymetallic carbonate replacement
Type of mine/processing method:		Type of mine/processing method:		Type of mine/processing method:		Type of mine/processing method:
Open pit/heap leach		Underground/flotation		Underground/flotation		Underground/flotation
Life of mine:		Life of mine:		Life of mine:		Life of mine:
13 years1		6 years1		5.5 years at Upper Triangle1		15 years1
Ownership:		Ownership:		Ownership:		Ownership:
100% Eldorado		100% Eldorado		100% Eldorado		100% Eldorado
Workforce:		Workforce:		Workforce:		Workforce:
1,271	892	703	850
2023 production:		2023 production:		2023 production:		2023 production:

154,849 oz Au

Proven and probable gold reserves1: 3,759 Koz at 0.67 g/t

86,088 oz Au	177,069 oz Au	67,133 oz Au
Proven and probable gold reserves1:	Proven and probable gold reserves1:	Proven and probable reserves1:
550 Koz at 5.08 g/t	877 Koz at 6.12 g/t	1,907 Koz Au at 6.70 Au g/t; 35,810 Koz Ag at
		126 Ag g/t; 374 Kt Pb at 4.2%; 468 Kt Zn at 5.3%

1. Based on proven and probable reserves as of September 30, 2023. Please refer to the advisories at the end of this report for more information on the mineral reserves and mineral resources. For more information, please followwww.eldoradogold.com/assets to find the latest Technical Report for each of Eldorado's assets and to see the Resources and Reserves page of our website.
2. The Lamaque Complex includes the Triangle Mine (Upper and Lower), the Ormaque Deposit, the Parallel Deposit, the Plug #4 Deposit and the Sigma Mill.

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Where We Operate

DEVELOPMENT PROJECTS

CARE AND MAINTENANCE

NON-CORE ASSET

Skouries1		Stratoni3	Perama Hill		Certej4
Location:		Location:	Location:		Location:
Halkidiki Peninsula, Greece		Halkidiki Peninsula, Greece	Thrace region of northern Greece		Transylvania in western Romania
Commodities:		Commodities:	Commodities:		Commodities:
Gold, copper		Silver, lead, zinc	Gold, silver		Gold, silver
Type of deposit:		Type of deposit:	Type of deposit:		Type of deposit:
Copper-gold porphyry		Polymetallic carbonate replacement	Epithermal gold-silver		Epithermal gold-silver

Type of mine/processing method:

Open pit and underground/gravity circuit and flotation

Life of mine:

20 years2

Ownership:

100% Eldorado

Type of mine/processing method:	Type of mine/processing method:	Ownership:
Underground/flotation	Open pit/whole ore, carbon-in-leach	80.5% Eldorado, 19.25% Minvest S.A., 0.25%
Ownership:	Life of mine:	minority shareholder
Workforce:
100% Eldorado	10 years2
Workforce:	Ownership:	43
110	100% Eldorado
	Workforce:

Workforce:	6
449	Proven and probable reserves2:
Proven and probable reserves2:	995 Koz Au at 3.01 Au g/t; 1,639 Koz Ag at 5.0 Ag g/t
3,630 Koz Au at 0.77 Au g/t; 740 Kt Cu at 0.50%

1. The Skouries development project was in care and maintenance during the first quarter of 2023, when it resumed construction, and is approximately 73% constructed as of March 31, 2024.
2. Based on proven and probable reserves as of September 30, 2023. Please refer to the advisories at the end of this report for more information on the mineral reserves and mineral resources. For more information, please followwww.eldoradogold.com/assets to find the latest Technical Report for each of Eldorado's assets and to see the Resources and Reserves page of our website.
3. Stratoni was in care and maintenance during 2023. Exploration and drilling continued, with the goal of expanding reserves and resources before operations are resumed. In this report, references to "Stratoni" or "the Stratoni mine" include the nearby Mavres Petres mine from which ore was historically processed at the Stratoni plant. Stratoni is also the site of a port facility for the Kassandra Mines.
4. The Company intends to sell its interest in the Certej project within the next 12 months.

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Eldorado Gold 2023 Sustainability Report

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