Centamin PLC Announces Dividend Declaration

2020 FINAL DIVIDEND

Centamin is pleased to announce the Board of Directors recommend the payment of a final dividend of 3.0 US cents per share, for the six months ended 31 December 2020.

2020 FINAL DIVIDEND

PERTH, AUSTRALIA / ACCESSWIRE / March 22, 2021 / COMMITMENT TO SHAREHOLDER RETURNS

Consistent with the Company's commitment to shareholders in December, and in line with the longstanding dividend policy, the Board proposes a final dividend of 3.0 US cents per share (US$34.7 million). This will bring the total dividend attributed to full year 2020 to 9.0 US cents per share (US$104.0 million)^[1]. The final dividend will be subject to shareholder approval at the 2021 Annual General Meeting on 11 May 2021.

Centamin continues to maintain a robust financial strategy, with cash and liquid assets of US$310 million as at 31 December 2020, with no debt, hedging or streaming in place. The Company's financial discipline provides the flexibility to allocate capital to shareholders' returns, business investment and growth, environmental and social opportunities in pursuance of our corporate purpose and strategy.

2021 Dividend Intention

For the current year, 2021, the Board reiterates its intention to recommend a minimum dividend of US$105 million, subject to final Board and shareholder approvals, which will be paid as an interim and final dividend. This reflects our confidence in the outlook for the Company during this year of investment and the strength of the Company's financial position. The long-term dividend policy of paying out a minimum of 30% of free cash flow remains unchanged.

DIVIDEND TIMETABLE^[2]

Below is the final dividend timetable for the London Stock Exchange and Toronto Stock Exchange

2021 AGM Date 11 May 2021

Ex-Dividend Date: 20 May 2021

Record Date: 21 May 2021

Last Date for Currency Elections: 26 May 2021

Payment Date: 15 June 2021

Dividend Currency Elections

The dividend will be paid on 15 June 2021, in US Dollars ("USD") with an option for shareholders to elect to receive the dividend in Pounds Sterling ("GBP"). Currency elections should be made no later than 26 May 2021 as per the instructions detailed on the Company website (www.centamin.com). Payments in GBP will be based on the USD/GBP exchange rate on 27 May 2021 and the rate applied will be published on the website thereafter.

As a Jersey incorporated company, there is no requirement for Centamin plc to make any withholding or deduction on account of Jersey tax in respect of the dividend.

FOR MORE INFORMATION: please visit the website www.centamin.com or contact:

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FORWARD-LOOKING STATEMENTS

This announcement (including information incorporated by reference) contains "forward-looking statements" and "forward-looking information" under applicable securities laws (collectively, "forward-looking statements"), including statements with respect to future financial or operating performance. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "expected", "budgeted", "forecasts" and "anticipates". Although Centamin believes that the expectations reflected in such forward-looking statements are reasonable, Centamin can give no assurance that such expectations will prove to be correct. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Centamin about future events and are therefore subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, there are a number of factors that could cause actual results, performance, achievements or developments to differ materially from those expressed or implied by such forward-looking statements; general business, economic, competitive, political and social uncertainties; the results of exploration activities and feasibility studies; assumptions in economic evaluations which prove to be inaccurate; currency fluctuations; changes in project parameters; future prices of gold and other metals; possible variations of ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; climatic conditions; political instability; decisions and regulatory changes enacted by governmental authorities; delays in obtaining approvals or financing or completing development or construction activities; and discovery of archaeological ruins. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. Forward-looking statements contained herein are made as of the date of this announcement and the Company disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.

^[1] Including the Second Interim 2020 Dividend and the proposed Final 2020 Dividend, and excluding the First Interim 2020 Dividend announced in April 2020 which was a direct replacement for the Final 2019 Dividend due to circumstances relating to the COVID-19 pandemic.

^[2] The dates set out above are based on the Directors' current expectations and may be subject to change. If any of the dates should change, the revised dates will be announced by a regulatory news announcement and will be available at www.centamin.com.

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SOURCE: Centamin PLC