CENTAMIN PLCINVESTOR PRESENTATIONSeptember 2019

CLEAR STRATEGY

MATERIAL UPSIDE

STAKEHOLDER RETURNS

2

Forward Looking Statements: There are risks associated with an investment in theshares of Centamin plc (“Centamin” or “the Company”). Recipients of thispresentation should review the risk factors and other disclosures regardingCentamin referred to in the section entitled “Principal risks affecting the CentaminGroup”.

This presentation contains forward-looking statements which may include, but arenot limited to, statements with respect to the future financial or operatingperformance of the Company, its subsidiaries and its projects (including the SukariGold Mine) which include, but are not limited to, estimations on the future price ofgold, mineral reserves and resources, the realisation of mineral reserve estimates,the timing and amount of estimated future production, revenues and costs,government regulation of mining and exploration operations, environmental risks,title disputes or claims.

Often, but not always, forward-looking statements can be identified by the use ofwords such as “plans”, “hopes”, “expects”, “is expected”, “budget”, “scheduled”,“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations(including negative variations) of such words and phrases, or state that certainactions, events or results “may”, “could”, “would”, “might” or “will” be taken, occuror be achieved.

Forward-looking information involves and is subject to known and unknown risks,uncertainties and other factors which may cause the actual results, performance orachievements of the Company and/or its subsidiaries to be materially differentfrom any future results, performance or achievements expressed or implied by theforward-looking information. The material factors and assumptions used to developthe forward looking statements include, among others, general business, economic,competitive, political and social consideration and assumptions concerning

economic evaluations, exchange rates, project parameters and gold and othercommodity prices.

Although the Company has attempted to identify important factors that couldcause actual actions, events or results to differ materially from those described inforward-looking information, there may be other factors that cause actions, eventsor results to differ from those anticipated, estimated or intended. Forward-lookinginformation contained herein is made as of the date of this announcement, exceptas may be required by applicable law, and the Company disclaims any obligation toupdate any forward-looking information, whether as a result of new information,future events or results or otherwise. There can be no assurance that forward-looking information or statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in such information orstatements. Accordingly, readers should not place undue reliance on forward-looking statements.

Competent Persons: Information in this presentation which relates to exploration,geology, sampling and drilling is based on information compiled by geologist, MrNorm Baillie, who, as an accredited Chartered Professional Geologist and Managerthrough the Geological Society of the United Kingdom and the Australasian Instituteof Mining and Metallurgy, is an “Competent Person” for this purpose and a“Qualified Person” as defined in “National Instrument 43-101 of the CanadianSecurities Administrators”.

Refer to the Company’s annual results 2018, for further discussion of the extent towhich the estimate of mineral resources/reserves may be materially affected byany known environmental, permitting, legal, title, taxation, socio-political, or otherrelevant issues.

DISCLAIMERSForward Looking Statements

3

OUR ASSETSWorld class, long-life mine with advancing organic growth pipeline

Sukari Gold Mine, EGYPT• 2019 Production guidance: 490-520koz1

• Open pit, underground and dump leach

• 7.25Moz reserve (11.0Moz resource); >15 year LOM

• Orebody open at depth, along strike w/significant resource upside

Production

Cleopatra Exploration / Development, SukariGold Mine, EGYPT

• 1Mtpa decline development targeting add’lsources of high-grade ore

• 2019 US$15m budget: >10,000m exploration and >2,000m decline development

Development

Doropo Project, COTE D’IVOIRE

• 2.13Moz Indicated resource suitable for open pit mining

• Significant near term resource upside potential

• PEA study underway

Advanced Exploration

• >4,000km2 highly prospective African exploration portfolio

• Results driven prioritisation of portfolio

• Focussed capital allocation in line with internal development criteria

• Assessing optimal realisation of non-core assets

Exploration

ABC Project

Cote d’Ivoire

Doropo Project

Cote d’Ivoire

Batie West Project

Burkina Faso

Sukari Gold Mine

Egypt

Source: Company filings: Resource and reserve statements as per the 2018 Annual Report and Accounts1. See detail on slide 6 of this document

4

WORLD CLASS ASSETBulk tonnage, long life, low-cost operation

Global Tier One Assets by 2018 AISC (US$/oz Au)

$171

$433 $468

$535 $547

$623 $627 $649

$857 $862 $884 $891

$1,154

Cadia Hill(Newcrest)

Vasilkovskoye(Glencore)

Olimpiada(Polyus)

Cerro Negro(NewmontGoldcorp)

Blagodatnoye(Polyus)

Pueblo Viejo(Barrick)

Merian(NewmontGoldcorp)

Barrick Nevada(Barrick)

Kalgoorlie(Barrick /

Newmont)

Lihir(Newcrest)

Sukari(Centamin)

Boddington(NewmontGoldcorp)

Veladero(Barrick)

Source: Company filings, WoodMacNote: AISC figures are based on FY 2018 actuals taken from the public filings of the owner. Where no actuals are published, WoodMac estimates have been used.1. Based on WoodMac due to lack of public disclosure.

Tier One Global Assets (low-cost single assets >500 koz Au producer; >10-year mine life)

(1)

5

0

100

200

300

400

500

600

H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019

Cash Balance (US$m) Cumulative Dividend (US$m) Min. Cash Balance (US$m)

CASH RESERVE

CORPORATE STRATEGYClear and consistent

✓Cumulative direct financial investment of

c.US$4.2bn to Egypt:

▪ Approx. US$275m distributed to EMRA as

dividends (profit share) since 2014

▪ Approx. US$140m in royalties since 2009

▪ Including salaries, local community

investment and project development, growth

and sustaining capex

✓c.US$500m, including 2019 interim dividend,

distributed to shareholders as dividends since

2014

✓Additional c.US$180m (over and above

US$100m cash reserve) available to support

growth and operational efficiency initiatives

Sustainable dividend policy: Delivering superior shareholder

returns for 6yrs

Create tangible stakeholder returns through maximising the value of the existing operations, while progressing an active pipeline of future growth prospects that meet our operational and cost objectives.

Competing for capital: Self-funded organic growth, innovation

driving op efficiencies & strategic opportunities

6

2019 GOLD PRODUCTION & COST GUIDANCEQ3 production to be lower than Q2

Gold production

490koz – 520koz Au

Cash costs of production

US$675-US$725/oz(1)

All-in sustaining costs (AISC)

US$890-US$950/oz(2)

H1 2019: 234koz (45%-48% of FY19) H1 2019: US$692/oz

H1 2019: US$940/oz

Source: Company filings(1) Cash costs of production are reflected on a per ounce produced basis(2) All-in sustaining costs are reflected on a per ounce sold basis

• Annual production expected towards the lower end of FY19 range

• Unit costs expected around the midpoint of FY19 range;

• Q3 production to be lower than Q2 2019• Q3 to date lower than expected with September

improving• Free cash flow generation expected to be

stronger in H2 vs H1 2019• Further changes in key operational personnel

7

BASELINE 3YR OUTLOOKFocusing on upside drivers that maximise margins

Upside drivers

▪ Improvement in underground grade

▪ Ongoing open pit optimisation

▪ Commence Cleopatra stoping

▪ Other: marginal dump leach

contribution

* Baseline estimates assume: 12.5Mtpa mill feed; 75-82Mtpa open pit total material mined; 1.1.25Mtpa underground ore feed; no contribution from Cleopatra stoping, nor dump leach and no resource growth from 2018

Gold Production

510koz - 540koz pa Cash Costs

US$630 - US$680/ozAISC

US$870 - US$920/oz

2020-2021 Baseline Outlook

8

--

$300 /oz

$600 /oz

$900 /oz

$1,200 /oz

$1,500 /oz

0

100

200

300

400

500

600

700

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019F 2020F 2021F

H1/2019 Production Range Cash Cost AISC

Mubarak Army Morsi Mansour Sisi Sisi

PROVEN OPERATIONAL TRACK RECORDSignificant baseline growth upside

Source: Company filings▪ 2019 cost guidance is charted using the mid-point of the range

9

Centamin (H1 2019)($940/oz)

------

-- 25% 50% 75% 100% --

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

Cumulative Gold Production %

BASELINE 3YR OUTLOOKImproving cost profile through 2021

Source: WoodMackenzie, 2019 All-In-Sustaining Costs

✓H1 2019 in line with budget: unit AISC of US$940/oz sold for H1 2019, up 1% YoY

✓On track to deliver FY 2019 guidance: unit AISC between US$890-950/oz

✓H2 2019 costs expected to trend lower towards the middle of the annual guidance range with production trending

towards the lower end of annual guidance range

✓Forecast declining unit AISC and cash costs through 2021, in line with increasing production profile

Competitive AISC costs, US$/oz sold

Centamin 2020/2021: Targeting <US$900/oz

US$1425/oz gold px

Centamin FY 2019: targeting middle of the cost guidance

10Dividend yields calculated over LTM, as at 25 July 2019; CEY Inclusive of announced dividendSource: FactSet

Sector leading returns to shareholders…

… at an attractive valuation.

LTM dividend yield (%)

Price / 2019E Earnings (x)

VALUE PROPOSITION

✓ Strong, liquid balance sheet with no debt, streaming or gold loans

✓ Six consecutive years of dividend pay out

✓ Expect stronger H2 production and free cash flow generation

✓ Baseline production growth, declining cost base and increasing free cash flow generation

72x

59x50x

40x35x 34x 32x

28x 25x 23x 22x 19x 19x 18x 18x 17x 14x 13x 13x 13x 12x 11x 9x

6.1%

4.0% 3.8%3.4% 3.2%

1.6% 1.4% 1.4%0.9% 0.9% 0.8% 0.7% 0.6% 0.6% 0.3%

SUSTAINABILITY REVIEW

Environmental• No major incidents recorded

• H1 achieved 81% recycled water usage; Targeting a 50:50 (recycled : fresh water) balanced water circuit. Reducing water levels off the active downstream tailings storage facility

• Finalising solar plant feasibility study to reduce reliance on fossil fuels and reduce CO2 emissions

Social• H1 Group Lost Time Injury Frequency

Rate1 (LTIFR) of 0.42; Zero-harm target

• Partnered with GIZ, providing bottom-up agricultural skills and resources across the local communities where we operate in Cote d’Ivoire

12

1. per 200,000 workplace hours

CHANGE IMAGE

Small scale solar used for remote power supply

Cote d’Ivoire local marketplace

ENVIRONMENTAL, SOCIAL & GOVERNANCEDelivering on our initiatives

13

Josef El-RaghyNon-

Executive Chairman

Andrew PardeyChief

Executive Officer

Ross JerrardChief

Financial Officer

G. Edward Haslam

Snr Non-Executive Director

Marna Cloete Non-

Executive Director

Mark Arnesen

Non-Executive Director

Mark Bankes

Non-Executive Director

BOARD OF DIRECTORS

Dr Sally EyreNon-

Executive Director

✓ Appointed Jeremy Langford as COO

✓ Appointed John Singleton as Corporate Development

✓ Good progress assembling a top-tier Leadership Team at Sukari

✓ Further appointments to be made at the operational level

H2 2019 SUCCESSION PROGRAMME

▪ 3x NED changes

▪ Effective Board Committee rotation, with further planned

▪ Active search for a suitable NED to transition into NEC

Dr Ibrahim FawzyNon-

Executive Director

Review & Refreshment

BOARD OF DIRECTORS SENIOR MANAGEMENT

30% are female

ENVIRONMENTAL, SOCIAL & GOVERNANCEStrong, multidisciplinary Board achieved through diversity

Dr Catharine

FarrowNon-

Executive Director

70% are independent

14

MANAGING POLITICAL RISKStrong stakeholder engagement

Use a hub based approach to operations and government relations

• Established longstanding positive relationships

• Dedicated in-country relationship manager(s), supported by Executive regular interface with key government officials at all levels and in local communities

• Largest gold producer in Egypt; Significant foreign direct investor by way of tax, rent, royalties, profit share, salaries, training, local investment

• Maintain regular dialogue to understand local stakeholder needs and deliver mutually beneficial results

• Significant direct and indirect local employer

• Established a reputation as a safe, ethical, local and international employer

• Professional development: on-the-job training for skilled and unskilled local workforce

Total of

$415m paid to Egypt

H1 2019: US$48m in profit share and royalties

Directly employ

2,021Egyptian nationals

H1 2019: 95% of workforce is Egyptian

Source: Company filings: For further details on the Concession Agreement and payments to government please refer to the 2018 Annual Report and Accounts and the License Overview found on the Company website

OPERATIONAL REVIEW

16

SUKARI GOLD MINELong life, bulk tonnage operation

Current open pitas at 30 June 2019

Stage 5Stage 4

Stage 6

Stage 7

Hapi Zone

▪ Higher open pit grades expected in H2, above 1g/t as

mining progresses into the Hapi Zone

▪ Two thirds of H2 ounces forecast from the open pit

▪ Stripping Stage 5 in parallel to ensure a smooth

transition from Stage 4 to 5 in 2021

H1 2019

OPEN PIT H2 driven by higher grades from the Hapi Zone

17

2019 OUTLOOK

OPEN PIT MINED GRADE vs MILLED GRADE

OPEN PIT TOTAL MATERIAL MOVED and STRIP

▪ Total ore mined of 6.7Mt at 0.71g/t

▪ 34.5Mt of waste mined as orebody tightens with depth and mining focused on lowering the Stage 4 West wall in line with Stage 4 North

▪ Performance initiatives: workplace training, integrating the mine planning, optimisation programmes and rebuild programmes have seen improvements in the mining sequence

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

-3,000

2,000

7,000

12,000

17,000

22,000

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Open Pit Ore Open Pit Waste Strip Ratio

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Open Pit Mined Grade Open Pit Feed Grade

Q3 PROGRESS• Open pit grades are improving as mining progresses into the

Hapi Zone• Stage 4 mining has been slower than scheduled, as increased

technical consideration is given to managing the OP interface with the top of the UG stope voids, prioritising safety and structural integrity

18

STAGE 4• Mining Stage 4 North:

medium grade material• Mining Stage 4 West:

higher grade material; managing the interface between the open pit and the original underground

OPEN PITAccessing higher grade Hapi Zone

H2 2019 open pit, plan view, mining programme

Sukari orebody, open pit, plan view

970RL960RL

940RL950RL

980RL

30 June 2019

ST 5

ST 6ST 5

ST 7

ST 4

ST 6

1180RL

STAGE 5• Mining Stage 5

East: stripping waste material

• Mining Stage 5 North: waste and low to medium grade oxide and transitional material

19

UNDERGROUND ORE MINED AND AVERAGE GRADE

UNDERGROUND GRADE PROFILE

UNDERGROUNDSource of high-grade ore

▪ Total production 580kt at 5.53g/t, a 3% decrease in grade YoY▪ Production from stoping, 320kt at 7.74g/t▪ Ore from development 260kt at 2.82g/t

▪ Good equipment availability and utilisation, incl. 2x operational LHDR

▪ >4,000 metres of decline, ore drive and cross-cut development completed

▪ Performance drivers: technological upgrades improving compliance to plan and integration of new processes and controls

H1 2019

▪ Forecast QoQ improvement in grade and tonnes

▪ Increased decline development in the lower Amun and Ptah throughout H2, providing access to new production faces

2019 OUTLOOK

0.00

2.00

4.00

6.00

8.00

10.00

12.00

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Stoping Grade Development Grade

Total UG Grade Mined (ex Cleo)

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

0

50

100

150

200

250

300

350

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Development Ore Stoping Ore Total UG Grade Mined (ex Cleo)

Q3 PROGRESS• Access to Upper Amun high grade stopes in late August• Increased low grade development tonnes as conversion of

waste material into ore continues

20

AMUN: Production & developmentPTAH: Production & developmentCLEO: Development

SUKARI UNDERGROUND2019 Work Programme (long-section)

21

ORE PROCESSED

▪ Plant throughput: 6.6Mt

▪ Plant availability >95%

▪ Head grade of 1.22g/t

▪ Metallurgical recovery rates to 88.4%

▪ Cleopatra decline development in mineralised material, produced 3,622 ounces

▪ Dump leach operations produced 3,947 ounces

▪ Performance initiatives: further optimisation of the floatation stability

2019 OUTLOOK

PROCESSINGStrong operating performance

H1 2019

FEED GRADE AND METALURGICAL RECOVERY RATES

85.0%

86.0%

87.0%

88.0%

89.0%

90.0%

91.0%

92.0%

93.0%

0.70

0.90

1.10

1.30

1.50

1.70

1.90

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Plant Feed Grade Recovery

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

2,600

2,700

2,800

2,900

3,000

3,100

3,200

3,300

3,400

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Total Ore Processed Plant Feed Grade

▪ Maintaining throughput at or above 12.5Mt pa

▪ Targeting 89% metallurgical recoveries, with further optimisation of process controls

FINANCIAL REVIEW

23

Group adjusted FCF(3) of US$36m

US$39m in profit share payments to Egypt and US$9m in royalties

Interim dividend declared of US$46.2m (4 US cents/share)

ROBUST FINANCIAL STRATEGY Managing the bottom line to maximise cash flow

Source: Company filings

1. Non-GAAP measures and are defined in the Financial Review of the 2019 Interim Report

2. Cash and liquid assets including cash and cash equivalents, bullion on hand at market price, gold sales receivable and financial assets at fair value through other profit & loss

3. Adjustments made to free cash flow, for example acquisitions of financial assets at fair value through profit and loss, which are completed through specific allocated available cash reserve

US$327m cash (1,2), as at 30 June 2019STRONG, FLEXIBLE BALANCE SHEET

Maximise return on capital

Improving efficiencies, resulting in reduced per unit consumption of fuel and consumables (i.e. reagents)

STRINGENT COST MANAGEMENT

Sustain and/or reduce costs

Sustaining capital investment of US$43m

Non-sustaining exploration spend of US$15m

DISCIPLINED CAPITAL ALLOCATION

Self funded organic growth profile

POSITIVE FREE CASH FLOW

Maximise free cash flow generation

RELIABLE STAKEHOLDER RETURNS

Return surplus capital to stakeholders

H1 2019 DELIVERY

US$48m, 32%

US$58m, 38%

US$46m, 30%

24

US$327m cash & liquid assets as at 30 June 2019, before interim dividend distribution1

No debt

No hedging

No gold loans

No gold streams

BALANCE SHEETStrong financial position

7

1 Cash and liquid assets including cash and cash equivalents, bullion on hand at market price, gold sales receivable and financial assets at fair value through profit and loss of US$327m as at 30 June 2019

Investment in future growth

Contribution to operating country and local

community

Shareholder returns

Balanced cash flow distribution

25

STRINGENT COST MANAGEMENTCosts in line with guidance

▪ Mine production costs were US$173m, up 11% YoY, and within budget

▪ Absolute cash costs were US$159m, up 17% YoY, and within budget

▪ Firm management of costs, with minimal quarterly variability

▪ Capital expenditure matched with cash flow profile

0.0

50.0

100.0

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200.0

0

200

400

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800

1,000

1,200

Q12017

Q22017

Q32017

Q42017

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Q22018

Q32018

Q42018

Q12019

Unit Cash Costs and AISC (US$/oz) vs Gold Production (koz)

Production TCC AISC

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

Q12017

Q22017

Q32017

Q42017

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Q22018

Q32018

Q42018

Q12019

Q22019

Absolute Cash Costs and AISC (US$m)

TCC AISC

H1 2019

▪ Solar plant (feasibility underway), subject to board approval

▪ Targeting up to 12% reduction in operating costs over near-term

▪ “No-saving-is-too-small” approach to detailed supply chain review

COST SAVING OUTLOOK

Q3 PROGRESS• Absolute cash costs and AISC are in line with budget• Expect strong H2 production and free cash flow

26

136.0

4.2 1.9 3.05.1 (1.1) 2.4 1.6 (0.1) 6.4

159.4

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

H1 2018 Fuel Contractors Labour Reagents Explosives Maintenance G&A Other Change inInventories

H1 2019

Increased consumption,

partially offset by ops

efficiency gains

Increased grade/blast,

partially offset by improved px terms

Expected level of

local wage inflation &

increase in expats

Increased volumes

consumed, offset by better px

Improved px & efficiency gains fully

offset impact of more tonnes mined

Larger crushing capacity

Net increase in inventory, primarily stockpiles

COST RECONCILLIATION Areas of cost containment

Cash costs of production reconciliation, US$ million

✓ H1 2019 costs within budget and FY guidance range

✓ Volume-based cost drivers, offset by efficiency gains ▪ Increased open pit tonnages and underground development combined with higher plant throughput

27

MINE PRODUCTION COSTSVolume-driven analysis

QUARTERLY

35%

8%

50%

7% 0%

Open pit

Underground

Processing

G&A

Refining/Transport

0.00

5.00

10.00

15.00

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Processing Cost per Tonne (US$/t)

0.00

0.50

1.00

1.50

2.00

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Open Pit Mining Cost per Tonne (US$/t)

0

10

20

30

40

50

60

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

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Q22019

Underground Cost per Tonne (US$/t)

H2-2017 H1-2018 H2-2018 H1-2019

Open Pit Total Ex-Pit Tonnes

5% 2% 11% 1%

UG Total Tonnes 4% -1% 5% 1%

Processing Throughput 2% 3% 1% 4%

INTERIM

Change in tonnes, six monthly rolling comparison (%)

Unit costs, US$/tonne

Declining unit costs▪ Increased volumes mined and processed▪ Partially offset by improved operational productivity

and improved supply chain pricing

H1 2019 Mine Production Costs (US$174m) split

Consumables 36%

38%

Contractors25%

25%

Fuel 20%19%

Labour 8%9%

Other 8% 6%

4% 4%

H1 2019 H1 2018

28

COST BASE EXPOSURELimited variability

USD 51% 51%

EGP* 26%24%

AUD 15%15%

Other 7%10%

H1 2019 H1 2018

GROUP Cost Centers**

* EGP includes fuel costs which are linked to USD prices** Group cost centre and FX breakdown incorporates all group expenditure including capex

GROUP FX Exposure**

DISCIPLINED CAPITAL ALLOCATIONAligned with cash flow profile; Self-funded organic growth pipeline

29

✓Sukari capex (sustaining & non-sustaining) US$48.0m,

largely investing in UG resource and infrastructure

expansion and routine fleet maintenance rebuilds

✓US$10.5m exploration expenditure in West Africa,

predominantly at Doropo Project resource drilling and

ABC Project regional and reconnaissance drilling

▪ Investment in technology to look at ways to improve identification and response times, i.e. Mill Ear and slope monitoring of the pit walls

▪ Ongoing fleet rebuild programme

▪ Second TSF engineering study

▪ Installation and commissioning of underground backfill plant to reduce stope dilution

▪ Continued Sukari exploration includes regional 3D seismic exploration programme, underground exploration and development

2019 OUTLOOK

H1 2019

0

20

40

60

80

100

120

FY2019

GROUP CAPITAL EXPENDITURE (US$'000)

Non-Egypt Exploration

Sukari Non-Sustaining Capex

Sukari Sustaining Capex

Consistent re-investment in the future of the business, including exploration through the cycles and sustaining capital to support a world-class long-life asset

EXPLORATION PIPELINE

31

ORGANIC GROWTH PIPELINESelf-funded value creation through the business cycle

SUKARI EXPLORATION & DEVELOPMENT

DOROPO PROJECTABC GREENFIELD

EXPLORATION Sukari Underground • Ongoing Amun/Ptah underground

development and exploration opening new production faces and targeting reserve replacement

• New structural high priority target identified: Horus Deeps

Cleopatra Decline: • Ongoing drilling and development below the

final pit shell and testing the Cleo and Ptah Deeps structures

Regional : Sukari Deeps • 2D, 3D and 4D seismic work programme

underway, compiling a complete geological architecture of the tenement area from surface to >1.5km depth

Doropo Resource Area• Drilling to continue to focus on

structural resource extensions and maiden reserve

• Concurrently progressing PEA –expected by end of 2019

Doropo Regional • Drilling to follow up on positive results

delineating a potential major structure: Kilosequi, and multiple other priority targets outside the MRE and within 35km radius

Kona Permit• Targeting resource growth and new

discovery along the 23km Lolosso Gold Corridor (“LGC”)

• Testing structural extensions between Lolosso South and Central

FarakoNafana Permit• Early stage exploration, inc geological

mapping, interpretation and target generation

32

1.5 1.7 3.1

4.6

7.5 9.0 9.4

11.0

13.1 13.1 13.4 13.4 13.0 13.0 11.7 11.0

-- --

--

--

--

----

--

-- -- --1.9

1.9 2.2 3.3 4.7

-- --

--

--

--

--0.0

0.2

0.4 0.6 1.0

1.3 1.8 2.4 2.9

3.4

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Sukari Resources West Africa Resources Cumulative Production

7.2 MozReserve Mine life of 15 yrs(2)

(1)

Source: Company filingsNote: Resources are shown inclusive of reserves, but exclusive of inferred resources.• Comprised of Doropo, ABC Prospect, and Batie West Project. Doropo indicated resource of 50 mmt grading 1.31 g/t Au. ABC indicated resource of 20 mmt grading 1.03 g/t Au. Batie West indicated resource of 34 mmt grading 1.70 g/t Au.• Based on an average annual production of 500 koz Au.• Includes stockpiles reserves.

PROVEN TRACK RECORD OF RESOURCE GROWTH15.7Moz global resource, unlocking value through the drill bit

LONG TERM VIABILITY

• Three decades of exploration success driving sustainable value creation

• Only a fraction of the CEY resources have been extracted to date

• Successfully replaced underground Sukarireserves YoY

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UNLOCKING SUKARI’S UNDERGROUND POTENTIALH1 2019 drill highlights: Delineating additional high-grade sources of ore

V Shear

QuartzRidge

Kurdeman

SamiSouth

SukariMine

Sukari North Prospects

Shu

▪ Sukari 11Moz resources are currently drilldefined around the 2.7km long by 0.6kmdeep Sukari porphyry which sits within amuch wider 17km x 3.7km ophiolitic shearzone

▪ There are 8 main surface prospects, withinthe license

▪ All surface prospects are within truckingdistance to the existing processing plantand infrastructure

Tenement area: 160km2

N

SUKARI DEEPS: REGIONAL UPSIDEDeveloping a 3D Architecture of the Sukari Thrust

RED SEA

34

5km Marsa Alam

300km Aswan

HorusSouth

Multi-staged geo-seismic programme: 3x10km 2D seismic lines were prepared andset out across the tenement. Seismicacquisition scheduled for Q3

Surface rig arrived on site in Q2, with aexploration drilling commencing in Q3,starting with V Shear

REGIONAL EXPLORATION

34

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ADVANCED EXPLORATION Doropo Project, Côte d’Ivoire - significant resource upside

▪ Strike extensions to Souwa-Nokpa-Chegue South

▪ Drilling gaps between Nokpaand Chegue Main

▪ High-grade down-dip potential of Han and Kekeda

▪ Plunge potential of the Souwa and Nokpa HG shoots

▪ New discovery on the Kilosegui and regional P1 targets

▪ H1 2019 drilled 21,000m aircore

▪ H1 2019 drilled 21,000m RC

Han structure long-section showing structural extension to the northeast

Doropo Resource Area: 1H19 significant drill intercepts

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GREENFIELD EXPLORATION ABC Project, Côte d’Ivoire

Lolosso Gold Corridor (“LGC”)

✓ Newly discovered Birimiangreenstone inlier

✓ Mapped > 60km exposure of keel sediments / volcanics

✓ Kona Permit >23km continuous surface gold anomaly

Kona Permit

▪ 2018 Lolosso South maiden resource 0.65Moz Indicated and 0.45koz Inferred

▪ 2019 targeting resource update ▪ Lolosso Central highly prospect

area for resource growth▪ +18 Km untested gold auger

anomalies

SUMMARY

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INVESTMENT CASEUnderpinned by strong fundamentals

Clear Corporate Strategy

Generate tangible stakeholder returns through maximising the value of the existing operations, while progressing an active pipeline of future growth prospects that meet our operational and cost objectives.

Reliable dividend stream

Low-cost, long life asset supports a sustainable long term shareholder and stakeholder dividend stream

US$500m distributed to shareholders

US$275m distributed in profit share to Egyptian gov’t

Quality asset portfolio

Sukari is a Top 10 Tier 1 asset

10yr operational track record

>30yr exploration driven growth

Life of mine >15 yrs

Low cost

Strong political risk management

Robust financial strategy

Strong, flexible balance sheet No debt; No hedging

Self-funded organic growth

Re-investment to sustain the core asset for the LT

Growth investment in future prospects

Stringent cost management

Significant FDI in operating country

Growth throughout the

value chain

Resource upside across the entire asset base

Low-capital intensive development

Maximising operational efficiencies

Increasing plant recoveries through optimisations

Responsible corporate

citizens

Targeting zero-harm safety record

Strong emphasis on workplace training & development

Core ESG initiatives in motion

Strong gov’t relations

Committed to achieving HSES, CSR and ESG best practises

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NEAR TERM MILESTONESDelivering performance

Continue to optimise performance at Sukari including stringent cost management

❑ Deliver further operational improvements and drive production growth

❑ Deliver production and cost guidance for 2019 of 490-520koz at AISC of US$890-950/oz1

❑ Deliver 2020 – 2021 baseline and upside

❑ Return surplus capital to shareholders

Unlock value from organic growth pipeline

❑ Doropo Project: further resource growth, maiden reserve, PEA study

❑ Complete Sukari Deeps seismic programme

❑ Significant exploration target generation across the portfolio

Strive to achieve the highest standards of ESG management

❑ Maintain a strong social license to operate

❑ Continued focus on workplace safety and wellbeing

❑ Deliver Sukari solar project feasibility study

❑ Board succession programme: Appointment of another NED to transition to NEC

1. See detail on Slide 6 of this document

Contact:Alexandra Carse

Investor Relations

+44 7700 713 738

alexandra.carse@centamin.je

CLEAR STRATEGY

MATERIAL UPSIDE

STAKEHOLDER RETURNS