Record Quarterly Revenue of $1.0 billion and Adjusted EBITDA of $533.0 million

Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) is pleased to announce its financial and operating results for the third quarter of 2026. All dollar figures are in United States dollars unless otherwise noted.

Third Quarter 2026 Summary:

• Gold production and sales: Produced 237,019 ounces and sold 248,484 ounces at an average realized gold price of $4,157 per ounce, generating record revenue of $1.0 billion. Q3 2026 production and sales include two months of attributable production from Musselwhite (Canada) and Camino Rojo (Mexico) following the closing of the business combination with Orla Mining Ltd. (“Orla”) on July 31, 2026.
• Costs: Cash costs were $1,654 and all-in sustaining costs (“AISC”) were $2,091 per ounce of gold sold¹, representing a decrease of 9% and 4%, respectively, compared to Q2 2026.
• Guidance: The Company remains on track to meet the low end of the updated annual production guidance range of 870,000 to 920,000 ounces and the high end of the AISC guidance range of $1,900 to $2,000 per ounce of gold sold.
• Record quarterly adjusted EBITDA: Adjusted EBITDA for the quarter totaled $533.0 million¹, an increase of 49% compared to Q2 2026, and included the contribution from the first two months of ownership of Musselwhite and Camino Rojo.
• Net income: Net income for the quarter was $62.5 million, or $0.06 per share, and adjusted net income was $199.3 million, or $0.19 per share¹.
• Cash flow: Cash flow from operations before changes in non-cash working capital of $291.7 million, and mine-site free cash flow before changes in working capital of $398.3 million.
• Balance sheet strength: The Company ended the quarter with $527.9 million of unrestricted cash and cash equivalents. Net cash at quarter end, excluding the 2023 convertible notes that were redeemed subsequent to quarter end, was $164.0 million, and liquidity was $1.2 billion^1,2.
• Leadership transition: On July 31, 2026, the Company announced that Darren Hall would retire as Chief Executive Officer and Director of Equinox Gold, effective October 31, 2026. Jason Simpson assumed the role of President and Chief Executive Officer on November 1, 2026.
• Continued return of capital to shareholders: Returned $35.3 million to shareholders during Q3 2026 through $9.0 million of share repurchases and $26.3 million of cash dividends. Year-to-date, as of November 6, 2026, the Company has repurchased 2,370,200 shares for approximately $27.7 million and paid $50.0 million in dividends. The dividend was increased by 50% in August 2026 to $0.09 per share annually.

Jason Simpson, President and Chief Executive Officer of Equinox Gold, commented: “This quarter’s results are only a partial reflection of the transformation of Equinox Gold into an emerging senior gold producer following the completion of our combination with Orla partway through the quarter. Valentine increased gold production by 6% this quarter, supported by a 16% increase in mill feed grade that averaged over 1.8 g/t, and achieved September mill throughput 26% above nameplate capacity. Our operating priority as a leading Canadian gold producer is to translate progress at Valentine and Greenstone combined with Musselwhite into consistent production and stronger cash generation. We are on track to exceed one million gold ounces produced on a combined twelve-month basis, securing our position among senior producers. During the quarter, we commenced construction activities at South Railroad following the receipt of the Federal Record of Decision in August. South Railroad is set to become our next new mine with first gold targeted in the first half of 2028, and production averaging 130,000 ounces per year over the first five years of an initial 10 year mine life.”

“Our strong financial position and cash flow generation provide Equinox Gold with the flexibility to advance organic growth in a disciplined manner while continuing to return capital to shareholders. We remain confident in Equinox Gold’s long-term outlook, focused on operational execution and advancing our internally funded North American growth strategy to deliver lasting long-term value per share.”

Third Quarter 2026 Operational Results

¹ _{Includes production and sales from the closing of the transaction with Orla on July 31, 2026 to September 30, 2026. Full quarter production for Musselwhite and Camino Rojo was 63,090 ounces and 26,168 ounces, respectively.}
² _{“Others” represents residual leaching gold production at Castle Mountain and attributable production from the Brazil operations prior to closing of the sale on January 23, 2026.}

Operational Review

Greenstone produced 60,596 ounces and operations continue to improve as the mine moves through the final stages of ramp-up, with a focus on consistent throughput and mill availability. In Q3, mining rates averaged approximately 194,000 tonnes per day (“tpd”). Scheduled replacement of the high-pressure grinding rolls in August 2026 reduced plant throughput during the quarter to an average of 23,682 tpd. Greenstone is positioned for stronger production through the remainder of 2026, with further operational improvements expected to support consistent performance over the longer term. Commissioning of the trommel (now onsite), which is expected to improve mill availability by removing timber and metal from the mill feed, is planned for early 2027.

Musselwhite produced 63,090 ounces during the quarter, exceeding expectations due to higher tonnes processed. Of this production, 45,616 ounces were attributable to Equinox Gold for the period from July 31 to September 30, 2026. Development of the 1080 exploration drift and underground drilling continue to support near-term production and longer-term reserve and resource growth.

Valentine produced 34,719 ounces, up 6% from Q2 2026, driven mainly by a 16% increase in processed grade to over 1.8 g/t, as mining initiatives including selective mining practices continued to improve. Average daily mining rates were 6% higher compared to the prior quarter and increased further to an average of 132,000 tpd in October 2026. The mill achieved throughput of 8,650 tpd in September, exceeding nameplate capacity by 26%, following a planned maintenance shutdown in August. In September, the mine produced 14,027 ounces, its highest monthly total since operations began in September 2025.

Nicaragua Operations produced 58,489 ounces with consistent average gold grade processed compared to the previous quarter. Near-term activities remain focused on developing future ore sources, with planned waste stripping continuing during the quarter.

Camino Rojo produced 26,168 ounces during the quarter of which 18,975 ounces were attributable to Equinox Gold from July 31 to September 30, 2026. Gold recovery was lower during the quarter, as anticipated, as mining progressed through transitional ore. The leach pad expansion was completed in October 2026 with stacking and leaching activities underway in the new area.

Mesquite produced 17,116 ounces. Following a geotechnical instability in the Brownie Phase 4 area in Q3 2026, the team is focused on mine sequencing to optimize short term production and continues to assess mine-life extension opportunities.

Development Projects

Valentine Phase 2 Expansion, Newfoundland and Labrador, Canada

The Valentine Phase 2 expansion is expected to increase processing throughput from approximately 2.5 million tonnes per year to 5.0 million tonnes per year. On August 5, 2026, the Board approved construction with an initial capital budget of $436 million, including $54 million of contingency. During Q3 2026, detailed engineering advanced and orders were placed for key long-lead items, including an additional ball mill, gyratory crusher and tailings thickener. The Company also submitted an application to Newfoundland and Labrador Hydro to proceed with a full impact study for the additional power requirements associated with the Phase 2 expansion. Construction is expected to be completed in late 2028.

Growth capital expenditures were $8.3 million during Q3 2026.

South Railroad Project, Nevada, U.S.

South Railroad is a planned open-pit, heap-leach operation on the Carlin Trend in Nevada, U.S. Following receipt of the federal Record of Decision on August 14, 2026, the Company commenced early works construction activities. At September 30, 2026, detailed engineering was 71% complete and approximately $180 million of the estimated $395 million initial capital had been committed. Long-lead procurement advanced for the ADR (adsorption, desorption and recovery) plant, crushing systems and site power generators. Mining equipment is expected to begin arriving at site at the end of 2026, and initial mining is planned for spring 2027 with first gold production targeted for the first half of 2028.

Growth capital expenditures from July 31 to September 30, 2026 were $20.1 million. Remaining key state permits and water rights are expected through the end of 2026 and into 2027.

Third Quarter 2026 Financial Results Summary

Liquidity and Capital Allocation

At September 30, 2026, Equinox Gold had $527.9 million of unrestricted cash and cash equivalents and $512.0 million of total debt resulting in net cash, excluding the 2023 convertible notes that were redeemed subsequent to quarter end, of $164.0 million. Available liquidity of $1.2 billion includes unrestricted cash and cash equivalents at the end of the quarter, plus $634.6 million of undrawn amount under the revolving credit facility at September 30, 2026.

During the first nine months of 2026, the Company made $1.3 billion of total debt repayments, including repayment of the term loan, Sprott loan, amounts under the revolving credit facility and debt assumed in the Orla business combination.

Subsequent to quarter end, all outstanding 2023 convertible notes, with an aggregate principal amount of $172.5 million, were converted into 28,475,117 common shares.

Continued return of capital to shareholders:

• During the quarter, the Company repurchased 759,000 shares at a cost of approximately $9.0 million under its normal course issuer bid. Year-to-date, as of November 6, 2026, the Company has repurchased 2,370,200 shares at a total cost of approximately $27.7 million.
• Paid cash dividends of $26.3 million, or $0.0225 per share, on September 2, 2026. In August 2026, the Company’s dividend was raised by 50%, from an annualized dividend of $0.06 to $0.09 per share. Year-to-date the Company has distributed $50.0 million in cash dividends to shareholders.
• On November 9, 2026, the Board of Directors approved a quarterly dividend of $0.0225 per share to be paid on December 10, 2026 to shareholders of record at the close of business on November 25, 2026.

The Company’s unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2026 and related management’s discussion and analysis (“MD&A”) are available for download on the Company’s profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov/edgar and on the Company’s website at www.equinoxgold.com.

Qualified Person & Technical Information

The scientific and technical information contained in this news release was approved by Andrew Cormier, Chief Operating Officer for Equinox Gold and a “Qualified Person” under National Instrument 43-101.

Corporate Structure Notice

As part of the Company’s ongoing efforts to simplify its corporate structure following the business combination with Orla, the Company expects to complete an internal corporate reorganization, including an amalgamation of Equinox Gold with certain wholly-owned subsidiaries, on or about January 1, 2027. The reorganization is not expected to affect the Company’s business or operations or its outstanding share capital, and the Company’s name and CUSIP will not change as a result of the reorganization. The common shares will continue to trade on the Toronto Stock Exchange and the NYSE American under the symbol “EQX”.

About Equinox Gold

Equinox Gold is a Canadian mining company positioned as the new North American senior gold producer with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Guided by a seasoned leadership team with broad expertise, the Company is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold offers investors exposure to a diversified portfolio of gold operations, and clear path to growth