Centerra Gold : Shareholders Approve Plan of Arrangement With Kyrgyzaltyn and the Kyrgyz Republic

NEWS RELEASE

Centerra Gold Shareholders Approve Plan of Association

With Kyrgyzaltyn and the Kyrgyz Republic

Toronto, Canada, July 25, 2022: Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) (“Centerra” or the “Firm”) introduced that on the Firm’s particular assembly of shareholders held earlier right now, an awesome majority of Centerra shareholders voted in favor of the decision approving the proposed plan of association which can give impact to sure facets of the transactions (collectively, the “Transaction”) contemplated by the beforehand introduced international association settlement (the “Association Settlement”) entered into by, amongst others, Centerra, Kyrgyzaltyn JSC (“Kyrgyzaltyn”) and the Authorities of the Kyrgyz Republic. Additional particulars of the Transaction, together with the plan of association, are described in Centerra’s administration info round (“Round”) mailed to Centerra shareholders in reference to the particular assembly, and which can also be accessible on Centerra’s web site at www.centerragold.com/2022-special-meeting-materialsand underneath the Firm’s profile on SEDAR at www.sedar.comand EDGAR at www.sec.gov/edgar.

Detailed voting outcomes for the decision are as follows:

A report on the voting outcomes for the particular assembly can be filed underneath the Firm’s profile on SEDAR at www.sedar.comand EDGAR at www.sec.gov/edgar.

The closing of the Transaction is topic to, amongst different issues, the Ontario Superior Court docket of Justice (Industrial Checklist) issuing an order (the “Remaining Order”) approving the plan of association. The appliance for the Remaining Order is anticipated to be made on or about July 28, 2022, at 10:00 a.m. (Toronto time), or as quickly thereafter as counsel could also be heard.

Extension of Annual Assembly Deadline

Centerra additionally introduced that it has been granted an extra extension by the Toronto Inventory Change to carry its annual assembly of shareholders no later than September 30, 2022. Centerra will present additional particulars relating to its annual assembly within the coming weeks.

1 College Avenue, Suite 1500 Toronto, ON

M5J 2P1

tel 416-204-1953 fax 416-204-1954 www.centerragold.com

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Cautionary Word Relating to Ahead-Wanting Info

Info contained on this doc which aren’t statements of historic information could also be “forward- trying info” for the needs of Canadian securities legal guidelines and throughout the that means of america Personal Securities Litigation Reform Act of 1995. Such forward-looking info entails dangers, uncertainties and different elements that would trigger precise outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such ahead trying info. The phrases “count on”, “ponder”, “could”, “will” and comparable expressions establish forward-looking info. These forward-looking statements relate to, amongst different issues: the anticipated timing of the satisfaction or waiver of sure circumstances of the Transaction and the anticipated timing of the Remaining Order listening to.

Ahead-looking info is essentially primarily based upon a variety of estimates and assumptions that, whereas thought of cheap by Centerra, are inherently topic to vital political, enterprise, technical, financial and aggressive uncertainties and contingencies. Recognized and unknown elements might trigger precise outcomes to vary materially from these projected within the forward-looking info. Elements and assumptions that would trigger precise outcomes or occasions to vary materially from present expectations embrace, amongst different issues: the chance that the Ontario courtroom doesn’t approve the plan of association and difficulty the Remaining Order, and the truth that events have come ahead and indicated that they may oppose the issuance of the Remaining Order; dangers that any of the circumstances precedent to the Transaction is not going to be glad in a well timed method or in any respect; the affect of any actions taken by the Kyrgyz Authorities, or any of its instrumentalities, or Kyrgyzaltyn previous to the completion of the Transaction; the failure of the Kyrgyz Authorities or Kyrgyzaltyn to adjust to their obligations underneath the Association Settlement; the Kyrgyz Authorities nationalizing or expropriating the Kumtor mine; political and regulatory dangers within the Kyrgyz Republic; useful resource nationalism; the affect of modifications in, the affect of modifications in, or extra aggressive enforcement of, legal guidelines, rules and authorities practices; the presence of a major shareholder that could be a state- owned firm of the Kyrgyz Republic and potential conflicts of curiosity associated thereto; and different actions which may very well be taken by the Firm in response to the continuing state of affairs involving the Kumtor mine. For added threat elements, please see part titled “Danger Elements” within the Firm’s most just lately filed Annual Info Type and within the Round, every of which can be found on SEDAR at www.sedar.comand EDGAR at www.sec.gov/edgar.

There may be no assurances that forward-looking info and statements will show to be correct, as many elements and future occasions, each identified and unknown might trigger precise outcomes, efficiency or achievements to differ or differ materially from the outcomes, efficiency or achievements which can be or could also be expressed or implied by the forward-looking statements contained or referred to herein. Accordingly, all such elements needs to be thought of fastidiously when making choices with respect to Centerra, and potential traders shouldn’t place undue reliance on ahead trying info. Ahead-looking info contained herein is given as of the date of this press launch. Centerra assumes no obligation to replace or revise forward-looking info to replicate modifications in assumptions, modifications in circumstances or another occasions affecting such forward-looking info, besides as required by relevant regulation.

About Centerra Gold

Centerra Gold Inc. is a Canadian-based gold mining firm centered on working, growing, exploring and buying gold and copper properties in North America, Turkey, and different markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Turkey. Centerra additionally owns the Goldfield District Venture in Nevada, United States, the Kemess Underground Venture in British Columbia, Canada, and owns and operates the Molybdenum Enterprise Unit in america. Centerra’s shares commerce on the Toronto Inventory Change (“TSX”) underneath the image CG and on the

1 College Avenue, Suite 1500 Toronto, ON

M5J 2P1

tel 416-204-1953 fax 416-204-1954 www.centerragold.com