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London, United Kingdom, 5 January 2021 – Nord Gold SE, the internationally diversified gold producer (“Nordgold” or “the Company”), along with its shareholders, is evaluating various strategic options which may include an initial public offering of Nordgold on the Premium Segment of the London Stock Exchange. This announcement is made in line with MAR 1.3 in light of the Company’s EU-listed Bonds (ISIN RegSXS2060792236). At this point, no definitive decision has been taken as to whether or not to proceed 2 with any such transaction 2.

Enquiries

Nordgold

Olga UlyevaHead of Corporate Communications

Powerscourt

About Nordgold

Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas.

Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner.

Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.

Review of Strategic Alternatives

Mines and prospective projects in six countries across Africa, Eurasia and the Americas

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About Nordgold

Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas.

Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner.

Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.

Advisers

Bacchus Capital acts as exclusive financial adviser to Nordgold, and DLA Piper is acting as legal adviser. Taylor Collison is acting as broker to the Offer.

“The takeover offers for Cardinal have played out over an extended period, but ultimately resulted in a strong outcome for all shareholders, of which Nordgold has been the largest. Nordgold has a strong record of capital discipline and cash flow generation, having built three global mines, each on time and on budget. In the case of Cardinal, the competitive bidding and strong Australian dollar, have taken Nordgold to a very substantial profit on its investment, whilst allowing us to continue always to prioritise capital discipline and maximise value for our shareholders.”

Nikolai Zelenski Nordgold Chief Executive Officer

Nordgold has a strong record of capital discipline and cash flow generation, having built three global mines, each on time and on budget. In the case of Cardinal, the competitive bidding and strong Australian dollar, have taken Nordgold to a very substantial profit on its investment, whilst allowing us to continue always to prioritise capital discipline and maximise value for our shareholders.

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Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines. Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines.

About Nordgold

Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas.

Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner.

Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.

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About Pristol Bay

The Project is located within Arctic Canada. It is accessible by air or by sea with about 5 months navigation period from southern Canada. There is a village, port and airstrip within ten kilometres of the property and an all season road in the eastern part of the project provides access to the Pistol Bay camp and to most of the known gold occurrences.

Nordgold throught its Canadian subsidary Northquest Ltd is the 100% owner of the Pistol Bay Project.

In February 2020, Nordgold more than doubled Mineral Resources at Pistol Bay. Inferred open pit Resources increased by 114% to 1.58 million ounces (Moz) of gold at a grade of 2.2 g/t from previous estimate of 739 koz at 2.95 g/t (RPA, 2016).

Our fleet

Today, the group employs almost 700 people, about 80% of them are floating crew members. Another distinctive feature of the Russian Crab Group is its 100% focus on crab harvesting. Our whole fleet, all our production facilities, resources and all our attention is focused on working with this bio resource. For the majority of our market partners crab is not the only and main direction of fishing, processing and marketing, more often this type of activity complements fishing.

  1. Перед ходьбой посоветуйтесь с лечащим врачом о нагрузках.
  2. То, что физические упражнения при СД приносят немало пользы и способствуют хорошей, долговременной компенсации, сомнения не вызывает.
  3. Скажем сразу: это не выматывающие тренировки в спортзале и не работа на огороде до седьмого пота.
    1. Перед ходьбой посоветуйтесь с лечащим врачом о нагрузках.
    2. То, что физические упражнения при СД приносят немало пользы и способствуют хорошей, долговременной компенсации, сомнения не вызывает.
    3. Скажем сразу: это не выматывающие тренировки в спортзале и не работа на огороде до седьмого пота.

About Pristol Bay

The Project is located within Arctic Canada. It is accessible by air or by sea with about 5 months navigation period from southern Canada. There is a village, port and airstrip within ten kilometres of the property and an all season road in the eastern part of the project provides access to the Pistol Bay camp and to most of the known gold occurrences.

Enquiries

Highlights Q3 2020 Q3 2019 Change, YoY Q2 2020 Change, QoQ 9m 2020 9m 2019 Change, YoY
Gold production, koz 264.9 293.2 -10% 281.4 -6% 772.2 769.4 0%
Average realised gold price, US$/oz 1,907 1,474 29% 1,717 11% 1,746 1,371 27%
AISC, US$/oz 958 939 2% 968 -1% 998 1,021 -2%
LTIFR 0.47 1.68 -72% 1.61 -71% 0.93 1.54 -40%

Today, the group employs almost 700 people, about 80% of them are floating crew members. Another distinctive feature of the Russian Crab Group is its 100% focus on crab harvesting. Our whole fleet, all our production facilities, resources and all our attention is focused on working with this bio resource. For the majority of our market partners crab is not the only and main direction of fishing, processing and marketing, more often this type of activity complements fishing.

  • Перед ходьбой посоветуйтесь с лечащим врачом о нагрузках.
  • То, что физические упражнения при СД приносят немало пользы и способствуют хорошей, долговременной компенсации, сомнения не вызывает.
  • Скажем сразу: это не выматывающие тренировки в спортзале и не работа на огороде до седьмого пота.
    • Перед ходьбой посоветуйтесь с лечащим врачом о нагрузках.
    • То, что физические упражнения при СД приносят немало пользы и способствуют хорошей, долговременной компенсации, сомнения не вызывает.
    • Скажем сразу: это не выматывающие тренировки в спортзале и не работа на огороде до седьмого пота.

Gold Production

Koz

Over the past 13 years, we have grown into a one million ounce gold producer by pursuing a disciplined strategy of well thought-through investment and continuous operational improvement.

More About Company

Gold Production

Horizontal histogram

Over the past 13 years, we have grown into a one million ounce gold producer by pursuing a disciplined strategy of well thought-through investment and continuous operational improvement.

More About Company

2008 Production

Over the past 13 years, we have grown into a one million ounce gold producer by pursuing a disciplined strategy of well thought-through investment and continuous operational improvement.

More About Company

Koz

Nordgold is an international gold producer with a business that spans from America to Siberia. Guided by a strategy focused on finding, developing, and streamlining assets, we have a proven track record of creating value for stakeholders.

For styles

Mission & Vision

Nordgold’s mission is to achieve continued growth and deliver value to shareholders and all other stakeholders.

But for us, success is about more than gold.

Learn more

Nordgold is an international gold producer with a business that spans from America to Siberia. Guided by a strategy focused on finding, developing, and streamlining assets, we have a proven track record of creating value for stakeholders.

About Nordgold

Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas.

More than gold

2020

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Governance & By-laws
Policies
Mandates
1
Nordgold’s Strategic Development Plan
Disciplined, growth-focused development strategy with strict project criteria selection for organic development and M&A.

min. IRR threshold requirement of 15% at $1,250/oz

2
Operating Cash Flow
Focus on strong cash flow generation through lower costs, productivity, technology, tight working capital management and culture
3
Sustaining Capital
Necessary capital to sustain current operations.

Sustaining capital has a slightly declining profile in the LOM

4
Dividends
Minimum payout of 50% of FCF before growth сapex after 2021 *.

We have tested our dividend policy against conservative gold price assumptions and see substantial room for attractive dividend payments even in a downside scenario.

* Determined at Board’s discretion, if Net Debt / EBITDA is above 1.5x. Planned dividend for 2021 is US$400m

5
Available Cash Flow
Due to strong cash flow generation and clean balance sheet, there is significant headroom to deliver key growth projects (i.e. Tokko construction and Gross expansion ) in parallel with robust shareholder returns
Additional Returns
Growth
Strong Balance Sheet

Contacts

Corporate Communications
Procurement Department