Centamin PLC Announces Annual Results for the Year Ended 31 December 2019

PERTH, May 18, 2020 - ("Centamin" or "the Company") (LSE:CEY)(TSX:CEE)

Audited Annual Results for the twelve months ended 31 December 2019

FINANCIAL HIGHLIGHTS^[1]

FY2019 vs FY2018

· Gross revenues[2] of US$658.1 million for the twelve months ending 31 December 2019, up 7% compared to the prior year

· Costs within annual guidance: cash costs of US$699 per ounce produced¹, up 12%; all-in sustaining costs ("AISC") ¹ of US$943 per ounce sold, up 7%

· EBITDA¹ improved 10% to US$284.0 million, at a 43% EBITDA margin[3]

· Profit after tax increased 13% to US$172.9 million

· Basic earnings per share ("EPS") increased 17% to 7.59 US cents

· Operational cash flow improved by 11% to US$249.0 million, after gross capital expenditure of US$97.6 million predominantly invested in the long-term sustainability of the business

· Adjusted Group free cash flow improved by 17% to US$74.3 million, after profit share distribution of US$87.1 million and royalty payments of US$19.7 million to our local partner, the Egyptian government

· Debt-free balance sheet, with no hedging and cash & liquid assets^[4] of US$348.9 million, as at 31 December 2019, which has increased further to US$379.2 million[5], as at 31 March 2020[6]

· To give shareholders greater certainty and expedite the dividend timetable, the previously proposed 2019 final dividend of 6 US cents per share was replaced[7] with a 2020 first interim dividend of 6 US cents per share, equating to c.US$69.4 million, and paid on 15 May 2020

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SOURCE: Centamin Plc