Centamin plc. and dividend.

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Overig advies 04/08/2022 11:08
for the six months ended 30 June 2022
MARTIN HORGAN, CEO, COMMENTED: “Centamin has delivered strong performance against guidance and its long-term plans during the first half of the year. We are now starting to see the benefit of the reinvestment programme as the revised
mine plan delivered improved production and costs during Q2 2022. The waste stripping programme has enabled re-entry into the higher grade areas of the open pit while the transition to owner operations in the underground resulted in much
improved productivity during Q2 2022. The new solar power plant is expected to yield cost and decarbonisation benefits through H2 2022 and we also look forward to a strong pipeline of news that will highlight the organic growth potential we
see across our portfolio of assets. Alongside this emerging growth, we remain committed to delivering shareholder returns and today announce an interim dividend of 2.5 US cents per share.”
• Revenue for the six months ended 30 June 2022 (“H1 2022”) was US$382 million from gold sales of 203,587 ounces (“oz”) at an average realised gold price of US$1,872/oz
• Cash cost of production was US$931/oz produced, and all-in sustaining costs (“AISC”) were US$1,446/oz sold
• EBITDA was US$153 million with a 40% EBITDA margin
• Net profit after tax attributable to shareholders was US$85 million, for a basic EPS of 7.35 US cents
• Capital expenditure was US$139 million, including $6 million of non-cash IFRS16 additions. Good progress was made on key capital projects such as the solar plant, paste-fill plant and stages 2 and 3 Tailings Storage Facility 2
• Interim dividend of 2.5 US cents per share equating to a distribution of approximately US$29 million, to be paid to shareholders on 7 October 2022
• Group operating cash flow totalled US$128 million and group free cash flow of negative US$25 million reflects the investment in the future of our operations with $133m cash investment in capex, as well as the US$33 million of
profit share and royalty distributions to our partner, EMRA.
• Strong and flexible balance sheet with available cash and liquid assets of US$175 million, as at 30 June 2022 and
after payment of the 2021 final dividend of US$58 million on 15 June 2022
• We are continuing to promote diversity across our operations with targets set for the mine in 2022 and beyond.
Sukari recruited 11 women in professional positions during H1 2022
Reaffirmed production and cost guidance for 2022 while investing for operational consistency and growth
• Gold production of 430,000 to 460,000 oz for the year
• Cash costs of US$900-1,000/oz produced
• AISC of US$1,275-1,425/oz sold
• Given the current inflationary operating environment:
o We continue to monitor consumables pricing and review opportunities to offset price increases with cost
savings initiatives such as the solar power plant; and
o We now anticipate cash costs and AISC for 2022 in the upper end of the guidance range
• Capex budget of US$225.5 million
• Exploration expenditure for the year is expected to total US$25 million
• Solar power plant commissioning – Q3 2022
• Capital structure review – Q3 2022
• Underground expansion study – Q3 2022
• Sukari Resource & Reserve update – Q4 2022
• Doropo Project (Côte d’Ivoire) pre-feasibility study – Q4 2022
Year on Year (“YoY”) comparative
units H1 2022 H1 2021* %
Gold produced oz 203,898 204,275 (0)%
Gold sold oz 203,587 203,802 (0)%
Cash cost US$’000 189,856 164,774 15%
Unit cash cost US$/oz produced 931 807 15%
AISC US$’000 294,406 241,705 22%
Unit AISC US$/oz sold 1,446 1,186 22%
Average realised gold price US$/oz 1,872 1,799 4%
Revenue US$’000 381,786 367,404 4%
EBITDA US$’000 153,116 188,480 (19)%
Profit before tax US$’000 84,747 114,816 (26)%
Profit after tax attributable to the parent US$’000 84,737 59,484 42%
Basic EPS US cents 7.35 5.16 42%
Capital expenditure US$’000 138,687 78,312 77%
Operating cash flow US$’000 128,380 141,853 (9)%
Free cash flow US$'000 (25,246) 16,283 (255)%
* The 2021 comparative figures for EBITDA, Profit before tax, Operating cash flow and Free cash flow have changed due to amounts
relating to discontinued operations in the Unaudited Interim Consolidated Statement of Comprehensive Income and Unaudited Interim
Consolidated Statement of Cash Flows being reclassified.
The Company will host a webcast presentation and conference call today, Thursday, 04 August 2022 at 09.30 BST to
discuss the results, followed by an opportunity to ask questions. The 2022 Interim Results presentation should be taken in
conjunction with this announcement and can be found on the website: www.centamin.com/investors/presentationswebcasts/.
A replay will be made available on the Company website.
Webcast link:https://www.investis-live.com/centamin/62bc44c5d9438014000fb454/ewer
Conference call dial-in telephone numbers:
United Kingdom +44 (0) 203 936 2999
United States +1 646 664 1960
South Africa +27 (0) 87 550 8441
All other locations +44 (0) 203 936 2999
Participation access code: 061531
PRINT-FRIENDLY VERSION of the half-year results: www.centamin.com/investors/results-reports/

see &

for the six months ended 30 June 2022
Consistent with the Company’s commitment to shareholders returns, the Board is pleased to declare an interim dividend of
2.5 US cents per share (US$29 million) for the six months ended 30 June 2022.
Centamin continues to maintain a robust financial strategy, with available cash and liquid assets of US$175 million as at 30
June 2022 and no debt or hedging on the balance sheet. The Company’s financial discipline provides the flexibility to allocate
capital to shareholders’ returns, business investment and growth, and environmental and social opportunities in pursuance
of our corporate purpose and strategy.
As Centamin continues to deliver on its growth plans, the Board reiterates its intention to recommend a minimum dividend
for 2022 of 5 US cents per ordinary share with the potential for increased distribution aligned with the Company's free cash
flow generation after growth capital investment. Therefore, this implies a final dividend of approximately 2.5 US cents per
share (US$29 million) to be proposed with the final full year results for 2022. The final dividend will be announced with the
2022 Full Year Results in Q1 2023 and remains subject to Board recommendation and shareholder approval.
Below is the interim dividend timetable for the London Stock Exchange and Toronto Stock Exchange
Ex-Dividend Date: 1 September 2022
Record Date: 2 September 2022
Last Date for Currency Elections: 7 September 2022
Payment Date: 7 October 2022
The interim dividend will be paid on 7 October 2022, 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 7 September 2022 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 8 September 2022 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.

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