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Oksut Project Progress Presentation28 Mayıs 2019Develi, Kayseri

May 2019

Content

• IntroductionDr. Alper Sezener, General Manager

• Project Construction UpdateGraeme Rapley, Project Director

• Operational Readiness ProcessRodney Chanin, Operation Director

• Exploration & Business Development ActivitiesDr. Alper Sezener, General Manager

• OHS & Sustainability UpdateÖzgür Ararat, OHS & Sustainability Director

• HR&Training UpdateT. Cem Serin, HR & Legal Compliance Director

• Questions & Comments

2May 2019

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Introduction

May 2019

General Overview

4May 2019

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Öksüt: Funded High Margin Gold Production

Öksüt Gold Project

Project HighlightsMine Type Open Pit, Heap Leach

Avg. LOM Annual Production 110koz Au

Avg. LOM AISC(1) (US$/oz) $490

Reserve Mine Life 8 years

Development Capex (US$MM) $221

LOM Sustaining Capital(1) (US$MM) $10

P&P Reserves(2)(Moz) 1.3

Au grade (g/t)(2) 1.4

Life of Mine Strip Ratio (w:o) 2:1

First Gold Pour (3) Q1-2020

Catalyst Schedule

EIA approval received in November 2015

Forestry Permit & GSM License received July 2016

Pastureland Permit received January 2018

Investment Incentive Certificate received February 2018

Start construction 2018 on track for Q1 2020 gold pour

Bought back Stratex and Teck royalties in 2015 & 2016

US$150MM low-cost financing in-place

Installing Road Barriers

(1) Non-GAAP measure see “Non-GAAP Measures” in Centerra’s MD&A and news release of May 1, 2019.(2) Refer to February 22, 2019 news release and Technical Report on Öksüt Gold Project dated Sept. 3, 2015.(3) Forward-looking information refer to news release of May 1, 2019.May 2019

Key Milestones

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● 4th November 2015 EIA Approval● 6th June 2016 ESIA Approval● 14th July 2016 Forestry Permit● 11th August 2016 Operation Permit● 12th January 2018 Pastureland Permit● 25th March 2018 Main Access Road/Haul Roads Starts● 25th April 2018 Heap Leach Pad and site infrastructure

Starts

● May 2019 Commence Stripping Over Burden● July 2019 Start Stocking Piling Ore● January 2020 Commence Crushing Ore/Stacking on

Heap Leach● February 2020 Commence Irrigation of Heap Leach● February 2020 First Gold Pour

May 2019

Project Construction

7May 2019

Construction Schedule

8May 2019

General Earthworks Plan – Ongoing Works

9May 2019

Project Overall Completion – as of 12 May 2019

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Construction Progress : 56 % (as of May 12, 2019)May 2019

Major Packages % Completion Status as of 12 May 2019

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Project's Overall Completion84 % First Gold

Major Packages

Site Wide Earth Works Construction

Crusher MPEI Construction

Raw Water Supply System

Administration Buildings

ADR Plant EPC

Main Substation

Lining System

Site Electricity Distribution

Sendremeke 154kv Powerline 100 %

69 %

90 %

42 %

48 %

56 %

49 %

75 %

81 %

52 %

May 2019

Site Photos

Administration Area

12May 2019

Site PhotosHDPE Liner Heap Leach Pad Secondary Crusher Building

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ARD Plant

May 2019

Operational Readiness

14May 2019

Mining

*Resource/Reserve Update- 31 December 2018

15May 2019

MiningMining Progress May 2019

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Keltepe Pit May 2019

May 2019

Process

● Management in place and starting the phase-in of the crusher team first, ADR team to follow.

● Preparing for the commissioning of crusher plant in July.

● The metallurgical accounting and reporting system has been generated.

● Stacking plan for the first lift of HL is completed see below.

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Heap Leach Stacking 2019

May 2019

Process

● Cyanide transportation schedule for 2019 and 2020 was completed which coincides with the Cn storage completion.

● Cyanide management plan works are being coordinated with the supplier.

● Activated Carbon and reagents order was placed for early August delivery.

● The site lab is constructed and the contractor is setting up.

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ADR Plant

May 2019

Maintenance

• Maintenance is closely following the construction progress and ensuring that is being done to an acceptable level.

• Crusher and ADR asset registrations are completed in the systems.

• Crusher circuit consumables, operating and critical spare parts have been identified and ordered.

• Crusher eequipment standard jobs and maintenance schedules are being compiled.

• Shop and hand tools as well as mobile service equipment has been ordered.

• Preparing training programs for blue collar workers.

19May 2019

Exploration

20May 2019

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Öksüt Gold Project

Tethyan Metallogenic Belt

*Sourced from MDRUMay 2019

Project Location and Prospects

Öksüt Gold ProjectOperation License

Boundaries

Keltepe

Guneytepe

Yelibelen

Buyuktepe

Keltepe NW

Boztepe

Öksüt Gold

Project

Kayseri Keltepe NW

Keltepe

Guneytepe

Buyuktepe

Boztepe

Boztepe W

Yelibelen

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YelibelenOxide-Au

Target

BuyuktepeOxide-Au

Target

Keltepe - Keltepe NW Oxide Au Resource +Supergene Cu target

Boztepe WestPorphyry Cu/Au

Target

N

Keltepe Pit

Güneytepe Pit

GüneytepeOxide-AuExtension

2019 Proposed Drilling Program

23May 2019

OHS & Sustainability

24May 2019

Significant Incidents (SI)

# Incidents

ICAM Completion

Management Review

QTD # 1 1 2YTD # 2 2 2

Critical Risks (CR’s) (Highest to Lowest Occurrence)

Critical Risk Categories QTD YTD

1 Mobile Equipment (Heavy & Light Vehicle) 1 1

2 Release of Energy 0 03 Cranes and Lifting 0 04 Working at Heights 1 15 Exposure to Chemicals 0 0

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Key Projects & InitiativesImplementation Status

Safety Leadership Initiative

Reduction of Mobile Equipment Incidents

Compliance Audits

# Findings % Complete Status

QTD # 6 100 100YTD # 6 100 100

KEYAudits, Risk

Management & AIP Objectives

0-33% Implemented

33-66% Implemented

>66% Implemented

Initiatives & Projects

Major Issues (deliverables

compromised)Minor Issues (recoverable)

On Track or Approved

Lag IndicatorsTotal Reportable Injury Frequency

Rate (TRIFR)

Target YTD Status

<1,32 0,36

Severity Rate

Target YTD Status

<5.50 4

Health and Safety Performance

Preventative ActivitiesYTD Y/E TARGET

#Safety Meetings 1291 2250#Inspections 555 1768#Training Hours 20107 51000#Near Miss Reports 2 x

#Hazards Identified 1171 1080

WS HS 1– 2 attendance 115- 144 550- 550

1 1

2 0

1 1

2 0

Q1 Q2 Q3 Q4

SI CRISignificant Incidents vs Critical Safety Risks

May 2019

Environmental Performance

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* No reportable incident YTD

Compliance AuditsType # Findings % Complete Status

Regulatory 0 %100 ↑Internal Audit 0 %100 ↑

CN Code N/A N/A N/A

Projects & InitiativesTitle Status

Biodiversity Management Plan Active

ESIA and Management Plans Active

Total of IncidentTo date This Reporting Period

0 0Date Raised Registration Number Location Incident Summary Corrective

Action Close out Date

- - - - - -

May 2019

Social Performance

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Stakeholder Engagement

# Community Meetings # Local Officials Visit # Total

MTD YTD MTD YTD MTD YTD

19 81 4 31 23 112

Grievance Resolution

# Grievance % resolved within the targeted timeframe # of unresolved Grievances(cumulative)

MTD YTD MTD YTD MTD YTD

0 16 %0 %100 0 0

CSR/Community Projects Donations Livelihoods RestorationApproved Budget(2018)

MTD YTD Approved Budget MTD YTD Approved Budget MTD YTD

341K 1067 25097 20K 0 0 250K 17836 17836

May 2019

Environmental Activities

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ENVIRONMENTAL ACTIONSActions Partners Status

1. Biodiversity Studies

- Flora StudiesProf Hayri DUMAN (Gazi Unv),Cecilia AMOSSO (Golder Italy),

Prof. Dr. Cem VURAL (Erciyes Unv) On going

- Fauna Studies

Prof. Dr. Cem VURAL (Erciyes Unv) , Prof. Dr. Osman İBİŞ (Erciyes Unv),

Doç.Dr. Şafak Bulut (Hitit Unv), Prof.Dr. Ahmet Karataş (Niğde Unv),

Bird inspector Mehmet Ünlü (Niğde Unv)

On going

2. Environmental Monitoring

- Water Quality (Graundwater, suface water etc.)GOLDER (Artek,ALS)

Prof. Dr. Hasan YAZICIGİL (ODTU)Prof. Dr. M. Zeki ÇAMUR (ODTU)

On going

- Air Quality (Dust ,Noise etc.) GOLDER (Batı Laboratory) On going

3. Waste Management Develi Municipality , KASKI Licensed recycling / disposal companies On going

4. Cultural Heritage Kayseri Provincial Directorate of Culture and Tourism (Museum Directorate) On going

May 2019

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Environmental Monitoring

May 2019

ESAP Commitments

30May 2019

CR & CSR

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Visit with General Manager to Mayor of Develi Municipality on April, 2019

Meeting with Local Media in DeveliDistrict on April, 2019

Planned Tree Planting Activity with Governmental Authorities, 2019

New CR Liaison Office restoration studies was continued, 2019

Stakeholder Engagement Components

18 March Çanakkale Victory and Martyrs’ Day event in Develi Center was

attended on 18th of March, 2019

Newspaper announcement for 1,5 Million Hours Lost Time Incident Free

on April 2019May 2019

LRP Programs

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LRP Programs

LRP - 2019

Subject Date Status

Income generating activities for users of Pastureland-Beekeeping May-December Completed

Agricultural equipment support for users of Pastureland May-June On going

Access to Grazing Areas and Agricultural Fields(Öksüt Quarter) February-April Completed

Improving water supply for users of Pastureland May - September On going

Animal watering pond improvement and new pond construction for users of Pastureland May - November On going

Access road renovation at Pasturelands May - November On going

May 2019

CSR Programs

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CSR ProgramsCSR- 2019

Subject Planned implementation period Status

Support to Regional Cultural Festival and Sport Activities July-August Not Started

Robotic Coding and Educational Brain Games Project for Students

Career Days for High School Students May-June On going

Theater for 23rd of April, National Sovereignty and Children's Day Ceremony April Completed

Support for Epçe Girls Volleyball Team March Completed

Support for Girls Volleyball Teams from Other Quarters October- December Not Started

Movie Days for the Students March-June Completed

Technical Fair and Exebition Visits for Farmers October- December Not Started

Social and Youth Centers-Develi Center June-December Not Started

Quick Impact Projects Improvement and Development of Common Use Areas May-December On going

Income generating activities- villige Cooperatives June-November Waiting for grant support

Income generating activities for Women May-December On going

May 2019

HR & Training

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Manpower Tables

Numbers are updated as of May 16th,2019May 2019

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Manpower Tables

OMAS Contractors

93 as of May 16th,

2019 OMAS Manpower Plan

May 2019

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Training

May 2019

THANK YOU!

Questions?

Issues!

38May 2019