EX-99 4 ego-20231231_d2.htm EX-99 Document

Exhibit 2.01
Extractive Sector Transparency Measures Act - Annual Report
  Eld Logo NEW.jpg
Reporting Entity NameEldorado Gold Corporation
Reporting YearFrom1/1/2023To:12/31/2023Date submitted5/27/2024
Reporting Entity ESTMA Identification NumberE919377
Orignal Submission.jpg
Other Subsidiaries Included
(optional field)
For Consolidated Reports - Subsidiary Reporting Entities Included in Report:Eldorado Gold (Quebec) Inc (ID: E558445)
Not Substituted
Attestation by Reporting Entity
In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above.
Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act,
for the reporting year listed above.
Full Name of Director or Officer of Reporting EntityPaul FerneyhoughDate5/27/2024
Position TitleExecutive VP and Chief Financial Officer






Extractive Sector Transparency Measures Act - Annual Report
Reporting YearFrom:1/1/2023To: 12/31/2023
Reporting Entity NameEldorado Gold Corporation Currency of the ReportUSD
Reporting Entity ESTMA Identification NumberE919377
Subsidiary Reporting Entities (if necessary)Eldorado Gold (Quebec) Inc (ID: E558445)
Payments by Payee
CountryPayee NameDepartments, Agency, etc… within Payee that Received Payments
Taxes1
Royalties
Fees2
Production EntitlementsBonusesDividendsInfrastructure Improvement PaymentsTotal Amount paid to PayeeNotes
TurkeyFederal Government of the Republic of Turkey11,110,00017,000,000 4,910,000 33,020,000Payments to Regional Directorate of Forestry, General Directorate of Mining and Oil Affairs, Ankara Kurumlar Tax Office, Ankara Tax Office Directorate, Ankara Ihtisas Tax Office, Canakkale Tax Office, Energy Market Regulatory Authority, General Directorate of Land Registry, Inheritance Tax Office, Menderes Land Registry Office, Ministry of Justice, and Hayriye Ozcelik Ankara 9th Notary .

Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 23.91. See note 1 & 2 below.
TurkeyMenderes Municipal Government200,000 200,000Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 23.91.
CanadaGovernment of Quebec14,390,00080,000 14,470,000Payments to Revenu Quebec, Ministre des finances du Québec, and Ministère de la Faune Québec.

Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.35.
CanadaMunicipality of Val-d'Or480,000480,000Payments to Centre Service Scolaire de l'Or et des Bois, Commission scolaire Western Quebec, and Ville de Val d'Or.

Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.35.
GreeceFederal Government of Greece210,00012,520,000 12,730,000Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.92.
GreeceMunicipality of Polygyros130,000 130,000Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.92.
GreeceMunicipality of Aristoteles970,000 970,000Payments made in EUR, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 0.92.
RomaniaCertej Municipal Government140,000 140,000Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.53.
RomaniaFederal Government of Romania320,000320,000Payments to the Ministry of Public Finance, and National Agency for Mineral Resources.

Payments made in RON, converted to USD at the exchange rate of the individual payment. The average exchange rate for the period was 4.53.
Additional Notes:1. Taxes of $48,180,000 were remitted to the Federal Government of the Republic of Turkey of which $11,110,000 was paid in cash after applying refunds of sales taxes previously paid.
2. Of the total fees of $4,910,000 paid to the Federal Government of the Repubic of Turkey in cash, the company received a refund of $2,240,000 for refundable VAT in cash.
3. Royalties of $15,670,000 were remitted to the Federal Government of Greece of which $12,520,000 was paid in cash after applying VAT refunds.





Extractive Sector Transparency Measures Act - Annual Report
Reporting YearFrom:1/1/2023To: 12/31/2023
Reporting Entity NameEldorado Gold CorporationCurrency of the ReportUSD
Reporting Entity ESTMA Identification NumberE919377
Subsidiary Reporting Entities (if necessary)Eldorado Gold (Quebec) Inc (ID: E558445)
Payments by Project
CountryProject NameTaxesRoyaltiesFeesProduction EntitlementsBonusesDividendsInfrastructure Improvement PaymentsTotal Amount paid by ProjectNotes
TurkeyKisladag— 8,910,000 3,870,000 12,780,000Note 1
TurkeyEfemcukuru— 8,290,000 570,000 8,860,000Note 1
TurkeyAnkara Office11,110,000 — 470,000 11,580,000Note 1
CanadaLamaque Complex14,870,000 80,000 14,950,000Note 2
GreeceSkouries60,000 60,000Note 3
GreecePerama Hill20,000 20,000Note 3
GreeceKassandra Mines210,000 12,440,000 1,100,000 13,750,000Note 3
RomaniaCertej320,000 140,000 460,000Note 4
Additional Notes:1. Payments made in TRY, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 23.91
2. Payments made in CDN, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 1.35.
3. Payments made in EUR, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 0.92.
4. Payments made in RON, converted to USD at the exchange rate at the date of the individual payment. The average exchange rate for the period was 4.53.




Reporting Principles

1.Basis of Accounting
The Schedule of Payments by Payee and the Schedule of Payments by Project (collectively, the “Schedules") prepared by Eldorado Gold Corporation (the “Company”) for the year ended December 31, 2023 has been prepared in accordance with the financial reporting provisions in Section 9 of the Extractive Sector Transparency Measures Act, Section 2.3 of the Extractive Sector Transparency Measures Act – Technical Reporting Specifications and Section 3 of the Extractor Sector Transparency Measures Act – Guidance Version 2 (collectively the “financial reporting framework”).
The Schedules are prepared to provide information to the Board of Directors of Eldorado Gold Corporation and the Minister of Natural Resources Canada to assist in meeting the requirements of the Extractive Sector Transparency Measures Act. As a result, the Schedules may not be suitable for another purpose.

2.Basis of Presentation
The Schedules have been prepared using the cash basis of accounting, as required by the financial reporting framework, and therefore exclude any accruals related to payments due to governments.
The Schedules include all cash payments made, without inclusion of cash inflows from a
government. Where the Company makes a payment to a government that is net of credits from that government, the net payment amount has been presented.

3.Reporting Currency
All payments are reported in U.S. dollars which is the reporting currency of the Company. When the Company has made payments in currencies other than its reporting currency, it translates the payments using the exchange rate on the date of the individual payment.

4.Rounding
All figures have been rounded to the nearest $10,000 U.S. dollars.

5.Control
As required by the financial reporting framework, the Company has reported payments made by entities controlled by the Company. The Company has determined whether it controls an entity in accordance with International Financial Reporting Standards