Centerra Gold (CG) investor relations material

Portfolio strategy and valuation

• Shifted from studies and portfolio planning to executing asset plans; projects span Mount Milligan, Kemess, Goldfield, Öksüt and Thompson Creek.

• Molybdenum’s shift from perceived liability to potential asset, improved Mount Milligan performance and project advancement have supported a stock re-rating.

• Resource value, especially in British Columbia, is viewed as underrecognized; continued delivery against plans is expected to improve market recognition.

Mount Milligan and Öksüt

• Mount Milligan delivered three consecutive quarters in line with guidance; improved orebody knowledge, a detailed infill program and strengthened leadership supported execution.

• Current Mount Milligan reserves support mine life through 2045; 230 million tonnes of indicated resource could add 10 years, with further westward drilling upside.

• Öksüt’s higher grades and recoveries support potential residual heap leaching and lower-grade oxide pit extension beyond its current 2029 reserve life; mine-life extension study targeted for end-February.

Development projects

• Kemess PEA outlines a 15–17-year mine life, annual production of 150,000–175,000 oz gold and 50–70 million lb copper; plan covers 47% of the resource.

• Kemess PFS is advancing baseline work and refining capital, recoveries, mine plan and infrastructure estimates; release targeted for mid-next year.

• Goldfield remains on schedule and budget for mid-2028 production; 2026 capital guidance rose as civil works and site preparation were accelerated to de-risk the project.

• Goldfield drilling continues; sulfide inventory excluded from the current study could be evaluated after further drilling and study.