Centamin — FY2022 Earnings Presentation
36 slides from Centamin's earnings presentation, March 2023
Slide 1: 2022 Full Year Results: Positioned for Growth & Returns
2022 FULL YEAR RESULTS CENTAMIN AZ POSITIONED FOR ROWTH & RETURNS @™ ~
Slide 2: Disclaimers
DISCLAIMERS THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL This presentation has been prepared by Centamin Pic (*Centamin" or “Company") solely f
Slide 3: 2022 Sustainability Highlights
2022 SUSTAINABILITY HIGHLIGHTS SAFETY (LTIFR per one million hours) SAFETY (TRIFR per one million hours) TOTAL FEMALE WORKFORCE 0.08 2.61 174 2021: 0.46 2021: 3.01 2021: 67 83% improvement YOY 13% improvement YOY 160% improvement YOY NATIONAL WORKFORCE IN EGYPT WORKFORCE DEVELOPMENT SUKARI DECARBONI
Slide 4: 2022 Operational Highlights
2022 OPERATIONAL HIGHLIGHTS PRODUCTION (ounces) AISC (US$/oz sold) 440,974 1,399 Guidance (430,000 — 460,000) Guidance (1,275 — 1,425) Guidance delivered Guidance delivered CASH COSTS (US$/oz produced) 913 Guidance (900 — 1,000 Guidance delivered TOTAL OPEN PIT MATERIAL MOVED UNDERGROUND ORE MINED 1
Slide 5: 2023 Guidance
2023 GUIDANCE PRODUCTION (ounces) CASH COSTS (US$/oz produced) AISC (US$/oz sold) 450-480k02 840-990 2022: 441koz 2022: 913 1,250-1,400 2022: 1,399 Increased the upper end Reflecting inflationary impacts Reflecting inflationary impacts CAPEX EXPLORATION SPEND (expensed) 2023 DIVIDEND US$225m' HH US$
Slide 6: Gold Production and Key Projects
GOLD PRODUCTION (koz) 500 450 Ee 400 FY21 FY22 FY23 F Gold produced UNDERGROUND MATERIAL MINED (Mt) 20 FY21 FY22 FY23 F Ore Mined Waste Mined INJURY FREQUENCY RATE (Per 1m hours worked) 3.00 0.50 0.00 a =— FY21 FY22 FY23 F mSukari LTIFR = @Sukari TRIFR OPEN PIT MATERIAL MINED (Mt) 150 100 _ = Ore Mi
Slide 7: 2022 Full Year Results: Financial Flexibility
2022 FULL YEAR RESULTS ENTAMIN AZ FINANGI “ie FLEXIBILITY ROSS sa CFO = s MARCH 2022
Slide 8: 2022 Financial Highlights
2022 FINANCIAL HIGHLIGHTS REVENUE EBITDA MARGIN2 ADJUSTED CAPEX' US$788m 40% US$224m 2021: US$733m 2021: 40% 2021: US$233m Driven by increased sales Margin maintained Key projects delivered in line COST SAVINGS PROGRAMME 2022 DIVIDEND CASH AND LIQUID ASSETS US$116m US$0.05 US$157m 2021: US$71m 2021:
Slide 9: Culture of Continuous Improvement
CULTURE OF CONTINUOUS IMPROVEMENT CUMULATIVE COST SAVINGS PROGRAMME TARGETING US$150M IN 4YRS (2020-2023) INITIATIVES UNDER REVIEW * Oxygen supply * Geo-metallurgy » ClL controls » PSA Plant * Regrind circuit * Water detoxification plant « Power optimisation INITIATIVES IN PROGRESS * Grid power * Gr
Slide 10: Open Pit, Processing, Underground and G&A Costs
OPEN PIT H2 2022: Improved operating productivity helped to counter rising input costs H1-20 H2-20 H1-2 H2-21 H1-22 H2-22 mmm SGM TMM (Mt) mn WMC TMM (At) DP Costs (USSMt) (SGM & WMC PROCESSING H2 2022: Throughput increased in H2, alongside rising input costs H1-20 2-20 HL-21 221 H1-22 H2.22 mm Tota
Slide 11: Foreign Currency
FOREIGN CURRENCY IMPACTS OF CHANGE IN EGYPT'S MONETARY POLICY GROUP FX EXPOSURE (% of total cost base) FY20 FY21 Other mAUD EGP mUSD FY22 CENTAMIN 32 US DOLLARS (“USD”) Contract waste stripping increased EGYPTIAN POUND (“EGP”) Increase reflects growing domestic supply chain Higher fuel prices AUSTRA
Slide 12: Robust Balance Sheet
ROBUST BALANCE SHEET INCREASED FINANCIAL FLEXIBILITY TO FUND GROWTH LIQUIDITY (US$357M) US$150m Undrawn as of 13 Mar 2023 CENTAMIN 32 SUSTAINABILITY-LINKED REVOLVING CREDIT FACILITY US$150m facility with four international banks, taking equal tranches Uncommitted accordion provision of up to US$50 m
Slide 13: Capital Allocation
CAPITAL ALLOCATION STRENGTHENED DIVIDEND POLICY RULES OF TREASURY MANAGEMENT » No uncovered dividends * Debt exclusively for funding growth projects * Minimum liquidity of US$100m GROWTH PROJECTS ASSESMENT * Multidisciplinary approach inc. ESG MINIMUM 30% FOR DIVIDENDS SURPLUS CASHFLOW BALANCE SHEET
Slide 14: Capex
CAPEX INVESTING IN LONG TERM SUSTAINABILITY AND VALUE MAXIMISATION SUSTAINING CAPITAL EXPENDITURE (US$M) 200 150 100 50 Fy21 FY22 FY23 F UG Exp! & Dev mOther Sustaining Capex ™ Sustaining waste capitalised NON-SUSTAINING & GROWTH PROJECT CAPITAL EXPENDITURE (US$M) $85m 160 * Solar plant + TSF2 . US$
Slide 15: 2022 Full Year Results: Sukari Value Maximisation
2022 FULL YEAR RESULTS SUKARI VAEUE MAXIMISATION MARTIN HORGAN, CEO MARCH 2023 CENTAMIN AZ
Slide 16: Open Pit
OPEN PIT ) REPLACED RESERVE DEPLETION ) 4.6M0Z P & P RESERVES @) +18% TRUCK PRODUCTIVITY ORE SOURCES (31 DEC 20) _ ORE SOURCES (31 DEC 23; 160MT WASTE MINED BY CENTAMIN + (LAST FULL YEAR OF ACCELERATED STRIPPING-PROGRAMME ©) 160,000 METRES DRILLING PLANNED FOR 2023 CENTAMIN AZ 16
Slide 17: Delivering Operational Productivity
DELIVERING OPERATIONAL PRODUCTIVITY OPERATING MORE EFFICIENTLY OPTIMISING FLEET UTILISATION ~) High performance truck trays installed Y) Haul road maintenance improvements Y) Cycle time optimization CENTAMIN Aé Tonnes Per Hour OWNER TRUCK PRODUCTIVITY (tonnes per hour) Monthly Avg. Aug 2020 Monthly
Slide 18: Underground Growth Plans
GEOLOGICAL FOCUS AND IMPROVED OPERATIONAL CONTROLS SUPPORT UNDERGROUND GROWTH PLANS ) 300% INCREASE IN RESERVES FROM 2021 gY 1.2M0Z P&P RESERVES a) TRANSITION TO OWNER-MINING <O CLEOPATRA Cae, 5 = og ~ En r? Dm at 64g/t Au TOP OF HORUS Bin m at 2679/t Au = HORUS DEEPS LEGEND -_ —— ©) UPDATED LOM PLA
Slide 19: Sukari North Extension
‘SUKARI NORTH EXTENSION - y LEGEND bee EAST MELANGE SUKARI MINING CONCESSION ‘SUKARI NORTH V-SHEAR EAST WADI ALAM QUARTZ RIDGE ‘SUKARI MILL KURDEMAN KURDEMAN EAST CENTAMIN AZ A ; CG 2km Akh > f Map Image Data © Bing Satelite Imagery
Slide 20: 2022 Full Year Results: Growth & Diversification
2022 FULL YEAR RESULTS CENTAMIN AZ GROWTH & DIVERSIFICATION MARTIN HORGAN, CEO MARCH 2023
Slide 21: Egypt's Eastern Desert Exploration Blocks
EGYPT'S EASTERN DESERT EXPLORATION BLOCKS SECURED 3,000KM? HIGHLY PROSPECTIVE GROUND UNDER NEW MINING CODE! Two strategies; three blocks: Nugrus Block (1,086km?) Najd Block (1,374km?) Um Rus Block (524km2) Two-year exploration budget: US$10 million identifying and ranking drill test targets F LeceNo
Slide 22: Nugrus is Drill Ready
NUGRUS IS DRILL READY DESKTOP AND FIELDWORK HAVE GENERATED TARGETS FOR DRILL TESTING 30km radius of Sukari process NUGRUS.BLEG eats plant SAMPLES © as ‘) Regional desktop work completed Mineralised belts identified One known historic gold mine >300 artisanal hard rock pits identified >20km alluvial
Slide 23: The Doropo PFS
THE DOROPO PFS PRE-FEASIBILITY STUDY (“PFS”) TO BE COMPLETED JUNE 2023 MAJOR WORKSTREAMS COMPLETED / ADVANCING RESOURCES 2.5Moz in Indicated Catego Constrained within US$2,000/oz pit shells. MINING Mine design and schedul misation are well advanced using the new METALLURGY PROCESSING Comminution des
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Slide 25: Growth in Action
GROWTH IN ACTION KEY GROWTH PROJECTS UNDER INVESTIGATION, IN PROGRESS AND COMPLETED SOLAR POWER PLANT UPSIZE: REVIEW DOROPO PFS: ONGOING EASTERN DESERT EXPLORATION: ONGOING UNDERGROUND EXPANSION: ONGOING GRID POWER: STUDY WORK ONGOING GRAVITY CIRCUIT: STUDY WORK ONGOING CENTAMIN AZ 25
Slide 26: Clear and Consistent Strategy
CLEAR AND CONSISTENT STRATEGY GROWTH & COMMITMENT TO DIVERSIFICATION STAKEHOLDER RETURNS CATALYSTS CATALYSTS DOROPO PRE-FEASIBILITY DECARBONISATION ROADMAP STUDY (02 2023) TO 2030 (Q1 2023) CENTAMIN AE 26
Slide 27: Enquiries
ENQUIRIES | INVESTOR@CENTAMINPLC.COM % s
Slide 28: Financial Summary Table
Gold produced Gold sold Cash cost Unit cash cost AISC. Unit AISC Avg realised gold price Revenue EBITDA Profit before tax Profit after tax attrib to the parent Capital expenditure Operating cash flow Adjusted free cash flow Oz Oz US$'000 US$/oz produced US$'000 US$/oz sold US$/oz US$'000 US$'000 US$
Slide 29: Operating Summary Table
Open pit Total material mined Ore mined Ore grade mined Ore grade milled Underground Ore mined Ore grade mined Processing Ore processed Feed grade Gold recovery Gold production Gold sold Avg realised gold price Cash costs Unit cash costs AISC Unit AISC kt kt g/t Au g/t Au kt g/t Au kt g/t Au % oz oz
Slide 30: 36MW Hybrid Solar Power Plant
36MW HYBRID SOLAR POWER PLANT DECARBONISATION OF POWER GENERATION PROJECT SPECIFICS 36MWp,- solar farm & 7.5MW battery-energy storage system 85-hectare site Generating 25% of annual power needs FULLY COMMISSIONED . . Consistent delivery of 36MWDC (nameplate capacity) Saving up to 70,000 litres of di
Slide 31: Grid Power Study
GRID POWER STUDY POTENTIAL TO FURTHER REDUCE COSTS AND GHG EMISSIONS EGYPT IS A REGIONAL EXPORTER OF POWER * +483,500km* of high voltage powerlines constructed 2014 — 2020 « CEY in active engagement with government and independent power ‘ a providers * Evaluating initial proposals to supply 30-50MWa
Slide 32: Sukari Concession Agreement
SUKARI CONCESSION AGREEMENT EGYPTIAN LAW 222 OF 1994 BY WAY OF PRESIDENTIAL DECREE CENTAMIN PLC LICENSE Neh? (CEY LN; CEE CN) 30 year license granted in 2005, with option , for a further 30 years ROYALTY 3% NSR paid to the Egyptian Ministry of Finance 100% PROFITSHARE 50% of revenue net of all quali
Slide 33: Year Life of Mine Reserves
14 YEAR LIFE OF MINE Tonnage Gold (Mt) Content (Moz) OPEN PIT Proven 108.9 0.9 gS Probable 27.5 15 eS P&P 136.4 1.0 46 UNDERGROUND Proven 4.0 3.6 0.5 Probable 53) 42 0.7 P&P 9.3 4.0 12 STOCKPILES Proven 174 0.5 0.3 Probable P&P 17.4 0.5 0.3 Sukari Mineral Reserves P&P 163.1 11 6.0 Open pit and stock
Slide 34: Gold Mineral Resources 2022
2022 Gold Catego! Wenner Gaels Content gory (Mb) (g/t) (Moz) SUKARI GOLD MINE Measured (M) 267 1.04 8.90 Indicated (1) BS) 1.30 2.21 M+! 320 1.08 11.11 Inferred 18 16 1.0 DOROPO PROJECT Measured > = ° Indicated 51.51 1.52 2.52 M+l 51.51 1.52 2.52 Inferred 13.67 1.14 0.50 ABC PROSPECT Measured - 2 2
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Slide 36: Thank You
A _ THAN KYOU De gl ENQUIRIES | INVESTOR@CENTAMINPLC.COM