Taseko Announces Second Quarter Financial and Operational Results

Q3 2023 Net (loss) income (10,953 ) 18,896 38,076 871 Unrealized foreign exchange loss (gain) 5,408 13,688 (14,541 ) 14,582 Unrealized derivative loss and fair value adjustment 10,033 3,519 1,636 4,518 Other operating costs1 10,435 – – – Call premium on settlement of debt 9,571 – – – Loss on settlement of debt, net of capitalized interest 2,904 – – – Gain on Cariboo acquisition – (47,426 ) – – Gain on acquisition of control of Gibraltar2 – (14,982 ) – – Realized gain on sale of inventory3 3,768 13,354 – – Inventory write-ups to fair value that was sold or processed4 4,056 – – – Accretion on Florence royalty obligation 2,132 3,416 – – Accretion on Cariboo consideration payable 8,399 1,555 – – Non-recurring other expenses for Cariboo adjustment 394 138 (916 ) 1,244 Estimated tax effect of adjustments (15,644 ) 15,570 (194 ) (1,556 ) Adjusted net income 30,503 7,728 24,061 19,659 Adjusted EPS $ 0.10 $ 0.03 $ 0.08 $ 0.07 1 Other operating costs relate to the in-pit crusher relocation project and care and maintenance costs due to the June 2024 labour strike. Q3 2023 Net (loss) income (10,953 ) 18,896 38,076 871 Depletion and amortization 13,721 15,024 13,326 15,993 Finance and accretion expense 21,271 19,849 12,804 14,285 Finance income (911 ) (1,086 ) (972 ) (322 ) Income tax (recovery) expense (3,247 ) 23,282 17,205 12,041 Unrealized foreign exchange loss (gain) 5,408 13,688 (14,541 ) 14,582 Unrealized derivative loss 10,033 3,519 1,636 4,518 Share-based compensation expense 2,585 5,667 1,573 727 Other operating costs 10,435 – – – Call premium on settlement of debt 9,571 – – – Loss on settlement of debt 4,646 – – – Gain on Cariboo acquisition – (47,426 ) – – Gain on acquisition of control of Gibraltar1 – (14,982 ) – – Realized gain on sale of inventory2 3,768 13,354 – – Inventory write-ups to fair value that was sold or processed3 4,056 – – – Non-recurring other expenses for Cariboo acquisition 394 138 – – Adjusted EBITDA 70,777 49,923 69,107 62,695 1 Gain on acquisition of control of Gibraltar relates to the write-up of copper concentrate inventories to fair value for Taseko’s 87.5% interest in Gibraltar at March 25, 2024. changes in general economic conditions, the financial markets and in the market price for our input costs including due to inflationary impacts, such as diesel fuel, acid, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;

Author: Taseko Mines Limited

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