Q1 2018 ResultsPresentation

3 May 2018

DELIVERING SUSTAINABLE RETURNS

2

Forward Looking Statements: There are risks associated with an investment in the shares ofCentamin plc (“Centamin” or “the Company”). Recipients of this presentation should reviewthe risk factors and other disclosures regarding Centamin referred to in the section entitled“Principal risks affecting the Centamin Group” in (i) our most recent Annual InformationForm; and (ii) our Management Discussion & Analysis reports, in each case available atwww.sedar.com.

This presentation contains "forward-looking statements" (which include “forward-lookinginformation” within the meaning of Canadian securities legislation) which may include, butare not limited to, statements with respect to the future financial or operating performanceof the Company, its subsidiaries, affiliated companies, its projects (including the Sukarimine), the future price of gold, the estimation of mineral reserves and resources, therealisation of mineral reserve and resource estimates, the timing and amount of estimatedfuture production, revenues, margins, costs of production, estimates of initial capital,sustaining capital, operating and exploration expenditures, costs and timing of thedevelopment of new deposits, costs and timing of future exploration, requirements foradditional capital, foreign exchange risks, governmental regulation of mining and explorationoperations, timing and receipt of approvals, consents and permits under applicable minerallegislation, environmental risks, title disputes or claims, limitations of insurance coverageand regulatory matters.

These forward-looking statements are provided for the purposes of assisting the reader inunderstanding the Company’s financial position and results of operations as at and for theperiods ended on certain dates, and to present information about management’s currentexpectations and plans relating to the future. Readers are cautioned that forward-lookingstatements may not be appropriate for other purposes than outlined in this presentation.Often, but not always, forward-looking statements can be identified by the use of wordssuch as "plans", "hopes", “aims”, “assumes, “seeks”, “targets”, “projects”, "expects", "isexpected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or"believes" or variations (including negative variations) of such words and phrases, or may beidentified by statements to the effect that certain actions, events or results "may", "could","would", “should”, "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, uncertainties and a variety ofmaterial factors (many of which are beyond the Company’s control) which may cause theactual results, performance or achievements of the Company, its subsidiaries and affiliatedcompanies to be materially different from any future results, performance or achievements

expressed or implied by the forward-looking statements. Such factors include, among others,future price of gold; general business, economic, competitive, political and socialuncertainties; the actual results of current exploration and development activities;conclusions of economic evaluations and studies; fluctuations in the value of the US dollarrelative to the local currencies in the jurisdictions of the Company’s key projects; changes inproject parameters as plans continue to be refined; possible variations of ore grade orprojected recovery rates; accidents, labour disputes or slow-downs and other risks of themining industry; climatic conditions; political instability, insurrection or war; civil unrest orarmed assault; labour force availability and turnover; delays in obtaining financing orgovernmental approvals or in the completion of exploration and development activities. Thereader is also cautioned that the foregoing list of factors is not exhaustive.

Although the Company has attempted to identify important factors that could cause actualactions, events or results to differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events or results to differ fromthose anticipated, estimated or intended. Forward-looking statements contained herein aremade as of the date of this presentation and, except as required by applicable law, theCompany disclaims any obligation to update any forward-looking statements, whether as aresult of new information, future events or results or otherwise, after the date on which thestatements are made or to reflect the occurrence of unanticipated events. There can be noassurance that forward-looking statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in such statements. 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, Mr Norm Baillie, who,as an accredited Chartered Professional Geologist and Manager through the GeologicalSociety of the United Kingdom and the Australasian Institute of Mining and Metallurgy, is an“Competent Person” for this purpose and a “Qualified Person” as defined in “NationalInstrument 43-101 of the Canadian Securities Administrators”.

Refer to the latest quarterly results entitled “Q4 2017 Preliminary Production Results, 2018Production Guidance and Mineral Reserve and Resource Update (effective 30 June 2017)”and dated 10 January 2018 and filed on SEDAR at www.sedar.com, for further discussion ofthe extent to which the estimate of mineral resources/reserves may be materially affectedby any known environmental, permitting, legal, title, taxation, socio-political, or otherrelevant issues.

DISCLOSURES

3

OUR ASSETSWorld class mine with value driven organic growth pipeline

Egypt Operating mine, Sukari Gold Mine

• Production since 2009; 3.0Moz @ avg cash cost $613/oz

• 2017 produced 544koz @ AISC $790/oz

• 2018F 580koz @ AISC $770/oz

• 11.8Moz Measured & Indicated resource

• 8.0Moz reserve*

• +20-year mine life (open pit and underground)

Côte d’IvoireExploration

• Updated resource of 1.35Moz Indicated and 1.2Moz Inferred resource at Doropo Project

• New target generation at ABC Project over an 80km strike gold mineralization

• 3,231km2 license holding

Burkina FasoExploration

• Resource of 1.9Moz Indicated and 1.3Moz Inferred at Konkera

• 1,258km2 licence holding, including 1 exploitation permit

• 160km district-scale greenstone belt

* as of 30 June 2017

Operating Mine

Exploration Project

4

BOARD AND SENIOR MANAGEMENT STRUCTURECommitment to highest standard of corporate governance and leadership

Jonathan Stephens

Chief Development

Officer

Darren Le MasurierCompany Secretary

Josef El-RaghyExecutive Chairman

Norm BailieGroup

Exploration Manager

Andrew Pardey

Chief Executive Officer

Youssef El-Raghy

GM Egyptian Operations

Mark Morcombe

Chief Operating

Officer

Independent Non -Executive

Chairman

Ross JerrardChief Financial

Officer

G. Edward Haslam Senior

Independent NED

Mark BankesIndependent

Non-Executive Director

Mark ArnesenIndependent

Non-Executive Director

Alison BakerIndependent

Non-Executive Director

Alexandra Carse

Investor Relations

SENIOR MANAGEMENT

BOARD OF DIRECTORS

Succession process underway. Intention to announce Non-Exec Chairman by end Q2 with an orderly handover until 2018 year

end

OPERATIONAL REVIEW

6

Mubarak Army Morsi Mansour Sisi Sisi

PROVEN TRACK RECORDFirst mover advantage – Building Egypt’s gold industry

➢ Centamin has established a strong track record of delivering high margin growth throughout the gold cycle and against a changing political environment.

“Arab Spring”

First gold pourCommenced underground

mining

Fuel subsidy removed

Exceeded 500koz pa

target run-rate

Commissioned Stage 1 4Mtpa

plant

Plant expansion to 10Mtpa

250

450

650

850

1,050

1,250

1,450

1,650

1,850

0

100

200

300

400

500

600

700

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F

US$

/oz

Pro

du

ctio

n (k

oz)

Production

Cash Cost

Average realisedgold price

1Q18A124koz

7

0.00

0.25

0.50

0.75

1.00

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

HEALTH AND SAFETYOur number one priority

Group LTIFR per 200,000 hours

Q1 2018

Total man hrs worked

LTILTIFR

per 200,000 hours

GROUP 1,619,369 1 0.12

Sukari 1,413,870 1 0.14

Burkina Faso 68,889 0 0.00

Cote d’Ivoire 136,610 0 0.00

✓ GROUP LTIFR 0.12 in Q1 2018,

▪ downward trend in annual LTIFR, targeting a zero-

harm safety record

✓ Sukari LTIFR of 0.14 maintained its strong health and safety

record with one LTI in 1.4m hours worked in the quarter

✓ Cote d’Ivoire maintains its zero harm safety record since

exploration began, with Q1 LTIFR 0.00;

▪ Nine consecutive quarters without an LTI, including a

total of 1,024,590 man hours worked

✓ Burkina Faso Q1 zero-harm safety record (LTIFR 0.00);

▪ Fifth consecutive quarter without an LTI, with a total

of 351,107 man hours worked. (1 LTI in the last ten

quarters, with a total of 1,739,809 hours worked)

✓ Health and safety training is mandatory and critical to how

we operate, along with continued professional

development training promoting opportunity and ensuring

operational excellence

8

QUARTERLY OPERATIONAL HIGHLIGHTSSolid performance

✓ Strong health and safety record: GROUP LTIFR of 0.12

✓ Maintained 2018 guidance 580,000/oz at $555/oz cash cost

and US$770/oz AISC

▪ Sukari gold production 124,296oz

▪ Cash cost of production: $581/oz

▪ AISC gold sold: $825/oz

✓ Solid processing plant performance:

▪ Increased throughput: 3.07Mt

▪ Improved recoveries: 89.6%

✓ 2018 guidance for 1.3Mt underground ore mined at 7.7g/t

▪ Underground operations: 312kt mined, at an avg

6.69 g/t mined grade

✓ 2018 open pit guidance updated to 75Mtpa, including 21Mt

open pit ore mined at 0.64g/t avg grade, inc. dump leach and

stockpile material.

▪ Record open pit mining rates: 18.5Mt moved, 6.05Mt of

ore at a lower than expected avg 0.5g/t mined grade.

OPEN PIT TOTAL MATERIAL MOVED vs STRIP

PROCESSING PLANT PERFORMANCE

84%

85%

86%

87%

88%

89%

90%

91%

1,150

1,200

1,250

1,300

1,350

1,400

1,450

1,500

1,550

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Plant Productivity Recovery

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

0

2,500

5,000

7,500

10,000

12,500

15,000

17,500

20,000

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Open Pit Ore Open Pit Waste Strip Ratio

9

QUARTERLY PRODUCTION SUMMARY

Q1 2018 Q4 2017 Q1 2017

Open Pit Total Mined ('000 tonnes) 18,496 17,647 17,129

Open Pit Ore Mined ('000 tonnes) 6,047 5,726 2,478

Open Pit Mined Grade (g/t) 0.50 0.62 0.47

Underground Ore Mined ('000 tonnes) 312 298 252

Underground Mined Grade (g/t) 6.69 8.79 7.44

Ore Processed ('000 tonnes) 3,068 3,072 2,908

Head Grade (g/t) 1.31 1.70 1.29

Gold Recovery (%) 89.6% 88.5% 88.8%

Dump Leach Gold Production (ounces) 2,155 3,119 2,048

Total Gold Production (ounces) 124,296 154,298 109,186

Gold Sold (ounces) 131,045 153,490 115,052

Cash Cost of Production(1) (US$/oz) 581 453 734

All-in Sustaining Cost(2) (US$/oz) 825 744 887

(1) per ounce of production(2) per ounce sold

10

OPEN PIT TOTAL MATERIAL MOVED vs STRIP

OPEN PIT ORE MINED GRADE AND FEED GRADEOPEN PIT MINING COST US$ PER TONNE MINED

OPEN PIT OPERATIONS>20 year life of mine

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

0

2,500

5,000

7,500

10,000

12,500

15,000

17,500

20,000

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

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

1.80

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Open Pit Mined Grade Open Pit Feed Grade

0.00

0.50

1.00

1.50

2.00

2.50

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

Start of Stage 4A

✓ Excellent mining rates with total material moved of 18.5Mt;

Record quarter ore mined 6.1Mt at an average 0.50g/t

grade, including dump leach and stockpile

▪ Open pit feed grade to the mill of 0.69 g/t

▪ Lower than expected grade from the transitional ore

providing access to the higher grade primary ore

▪ Maintained strip ratio, 2.06x

11

OPEN PIT OPERATIONS2018 open pit development – Stage 4A

12

UNDERGROUND ORE MINED AND AVERAGE GRADE

UNDERGROUND STOPING COST US$ PER TONNE MINED TOTAL DEVELOPMENT METRES (MINERALISED + WASTE)

UNDERGROUND OPERATIONS Delivering more high-grade tonnes

0.0

2.0

4.0

6.0

8.0

10.0

12.0

0

50

100

150

200

250

300

350

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Development Ore Stoping Ore UG Grade

0

500

1,000

1,500

2,000

2,500

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Development Metres

0

10

20

30

40

50

60

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Stoping Cost per Tonne (US$/t)

✓ Record underground mining rate:

▪ 312kt at 6.69g/t

▪ Production from stoping, 160kt at 7.27g/t

▪ Ore from development 152kt at 6.08g/t

✓ Amun/Ptah and Horus development progressed as planned.

13

PLANT PERFORMANCE

ORE PROCESSED AND FEED GRADE

✓ Plant throughput of 3.1Mt, running at an annualised rate

>12.3Mtpa; head grade of 1.31g/t

✓ Significantly improved metallurgical recovery rates to 89.6%

✓ Commissioning of the fourth secondary crusher providing a

further lift in throughput in line with ramp up in underground

operations

✓ Second dump leach prepared and oxide material dumped

ahead of irrigation in Q3 2018

PROCESSING COST US$ PER TONNE MILLED

PROCESSING PLANTMaximising productivity

84%

85%

86%

87%

88%

89%

90%

91%

1,150

1,200

1,250

1,300

1,350

1,400

1,450

1,500

1,550

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Plant Productivity Recovery

0.00

0.40

0.80

1.20

1.60

2.00

1,000

2,000

3,000

4,000

Q12015

Q22015

Q32015

Q42015

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Total Ore Processed Plant Feed Grade

0.0

5.0

10.0

15.0

20.0

Processing Cost per Tonne (US$/t)

FINANCIAL REVIEW

15

QUARTERLY FINANCIAL OVERVIEWMaximising margins

† Free cash flow in a non-GAAP measure defined as net cash generated by operating activities, less net cash used in investing activities, less EMRA profit share paid (cash)* Cash and liquid assets is a non-GAAP measure defined as cash and equivalents, bullion on hand, gold sales receivables and available-for-sale financial assets

✓ Maximising margins

▪ AISC Margins of US$503/oz sold

• Increased revenue to US$172.5m (Q1 2017: US$141m) due to increase in avg realized gold price

• AISC of US$107m, equating to a unit cost of US$825/oz sold (Q1 2017: US$887/oz)

✓ Controlled cash costs of production

▪ Lowest quartile producer

▪ Cash cost of production of US$71.3m, a unit cost of US$581/oz (Q1 2017: US$734/oz)

✓ Solid cash flow generation

▪ Free cash flow† of US$34.5m (Q1 2017:

US$19.6 m)

✓ Strong balance sheet

▪ No debt, no hedging, no streams

▪ Cash and liquid assets* of US$426.5 million at quarter end (Q1 2017: $290.9m)

▪ Final dividend of US$115.2m paid 6 April 2018

•Balanced Distribution

34%

32%

34%

Contribution to operating country and local community(Royalties and profit share of US$33.6m)

Investment in future growth(Total CAPEX: growth, development and sustaining, US$32.2m)

Solid cash flow generationPrioritising shareholder returns (Free cash flow US$34.5m)

16

QUARTERLY FINANCIAL SUMMARY

(1) Comprised of underground development and “other sustaining” capital(2) A non-GAAP financial measure, defined as net cash generated from operating activities, less net cash used in investing activities, less EMRA profit share payments(3) A non-GAAP financial measure, defined as: cash and cash equivalents, bullion on hand, gold sales receivables and available-for-sale financial assets

Q1 2018 Q4 2017 Q1 2017

Revenue US$m 172.5 190.4 140.7

EBITDA US$m 91.0 103.3 53.1

Profit before tax US$m 65.4 81.4 29.5

Profit share to EMRA US$m 28.9 37.1 16.1

Net profit US$m 36.4 43.8 13.4

Basic EPS (after profit share) US cents 3.17 3.81 1.17

Net cash generated from operations US$m 94.1 116.4 57.9

Sustaining capital expenditure(1) US$m 24.5 28.1 12.9

Exploration expenditure US$m 7.7 5.4 7.1

Free Cash Flow(2) US$m 34.5 46.5 19.6

Cash and equivalents US$m 395.6 359.7 266.0

Cash and liquid assets(3) US$m 426.5 417.9 290.9

ESTABLISHED LOW COST PROFILEIncluding investment in the future

17

CONSISTENTLY LOW COSTS(2)

300

500

700

900

1,100

1,300

1,500

2013 2014 2015 2016 2017 2018Guidance

US$

/oz

Cash Costs AISC Realised Gold Price

Maximising margins

✓ Average realised gold price of US$1328/oz

✓ AISC of US$825/oz sold

➢ AISC margin of $503/oz

2018 guidance: US$555/oz cash cost and AISC US$770/oz

ALL-IN SUSTAINING COST DYNAMICS

Q1 2018 Q4 2017 Q1 2017

Mine production costs US$m 80.9 76.6 75.5

Movement in inventory US$m (8.0) 1.1 6.7

Royalties US$m 5.2 5.9 4.2

Corporate and administration US$m 4.5 2.8 3.0

Rehabilitation costs US$m 0.2 0.2 0.2

Underground development US$m 11.8 10.7 8.4

Other sustaining capital US$m 12.6 17.4 4.5

By-product credit US$m (0.3) (0.4) (0.3)

All-in-sustaining costs US$m 106.9 114.2 102.1

Gold sold oz 129.6 153.5 115.1

AISC per ounce sold US$/oz 825 744 887

18

OP mining$195/oz

UG mining$45/oz

Processing$305/oz

G&A$35/oz

Consumables , 37% 33%

Contractors, 26% 30%

Fuel, 18% 15%

Labour, 9% 11%

Other, 10% 11%

Q1 2018 Q1 2017

units Q1 2018 Q1 2017

Open Pit Mining US$m 24.0 32.4

Underground Mining

US$m 5.5 6.0

Processing US$m 37.5 36.7

G&A US$m 4.3 5.0

Cash cost of production US$m 71.3 80.1

Cash cost of production US$/ounce 581 734

BREAKDOWN OF SUKARI COST BASE

Q1 2018 Sukari cash cost of production of US$581/oz

USD, 48%

59%

EGP*, 31%

21%

AUD, 19%

18%

Other, 2%

2%

Q1 2018 Q1 2017

Sukari Cost Centre

* EGP includes fuel costs which are linked to USD prices

Foreign Exchange Exposure

• Cash and liquid assets of US$426.5m as at 31 March 2018

– Ahead of final dividend payout of US$115.2m on 6 April 2018

• Generate FCF of US$34.5m, after

– Contribution to US$28.4m profit share is paid toour Egyptian in-country operating partners,EMRA.

– US$19m invested exploration (and development)targeting near term, low capital intensive growthand identified highly prospective greenfieldtargets

– US$12.6m sustaining capital, predominantly inmining fleet rebuilds, ensuring long termsustainability and the maximum return oninvestment in our equipment

19

No debt

No hedging

No gold loans

No gold streams

BALANCE SHEETStrong. Simple. Clean.

20

CONTRIBUTION TO EGYPT

Direct financial contribution to ARE to date

TOTAL $308.6m

Egyptian employees >1,350

Egyptian suppliers>270 Egyptian company suppliers

Other direct / indirect taxes

None

Royalty terms 3% NSR

Profit Share schedule

• Full recovery of qualifying costs incurred

• 50% of revenue net of all costs• 40% first 2 years (to June 2018)• 45% for next 2 years (to June

2020)

CORPORATE SOCIAL RESPONSIBILITYContribution in our operating country

Supporting your operating host country and local community

$187.4m paid to EMRA in profit share to

date

$121.2m paid to ARE in royalties

to date

$224.6m paid in

salaries to date

95% workforce is

Egyptian

44% suppliers are

Egyptian

Q1: $28.4m paid to

EMRA in profit share

Q1: $5.2m

in royalties to ARE

Q1: $6.6m paid in salaries

In addition to the above, we engage in various local community projects and initiates to ensure we maintain our social license to operate, lead by strong relations with local stakeholders, as set out in the CSR report found on our website

EXPLORATION REVIEW

BAST

1.0m @ 17.5g/t0.8m @ 11.7g/t1.0m @ 21.4g/t

3.1m @ 5.0g/t6.0m @ 6.5g/t3.6m @ 6.3g/t

N

2.5 km

SUKARI LONG TERM SUSTAINABILITYUnlocking the underground: Q1 2018 drill intercepts highlights

UG Development End Of 2017

UG Production End Of 2017

UG Amun/Horus Res Shapes

Sukari Porphyry

SUKARI LONG-SECTION

Open Pit Asbuilt End Of 2017

UG Amun Reserve Shapes

UG Ptah Res Shapes

UG Ptah Reserve Shapes

UG Future Ore-Drives Design

HORUSPORHYRY

OSIRISBAST

AMUN

PTAH

CLEOPATRA

JULIOUS ZONE

ANTONY ZONE

CLEO ZONE

PORPHYRYKEEL

TOP OF HORUS

CLEOPATRA

4.2m @ 18.3g/t

2.5m @ 12.3g/t

7.0m @ 4.7g/t

2.7m @ 6.2g/t

3.4m @ 5.9g/t

0.45m @ 27.2g/t

10.0m @ 3.8g/t

11.2m @ 2.1g/t

2.0m @ 3.3g/t

0.7m @ 6.2g/t

1.0m @ 15.9g/tPTAH

50.4m @ 5.3g/t11.4m @ 40.0g/t

16.2m @ 4.0g/t7.3m @ 5.9g/t

1.7m @ 50.2g/t8.1m @ 5.0g/t

0.3m @ 29.4g/t1.15m @ 56.1g/t

2.6m @ 35.3g/t2.1m @ 36.0g/t9.0m @ 40.1g/t

2.1m @ 308.0g/t4.2m @ 4.6g/t

MEDIUM TERM GROWTH

NEAR TERM GROWTH

Hapi Fault

11000mN Section+/- 100m

8.1m @ 5.0g/t

0.3m @ 29.4g/t

VQ on Western contact

1.15m @ 56.1g/t

Meta-Sediments

2.1m @ 308.4g/t

9.0m @ 40.1g/t

1.0m @ 21.4g/t

3.1m @ 5.0g/t

1.7m @ 8.0g/t

2.6m @ 35.3g/t

2.1m @ 36.0g/t

4.2m @ 4.6g/t

1.7m @ 8.0g/t

Ptah East Stockworks

7.0m @ 6.0g/t

3.6m @ 6.3g/t

Porphyry widens to North

SUKARI LONG TERM SUSTAINABILITYPTAH ZONE

11325mN Section+/- 125m

Ptah Western

Stockwork Zone

7.3m @ 5.9g/t

16.2m @ 4.0g/t

11.4m @ 40.0g/t

UG Development

UG Production

UG Resource Shapes

9900mN Section+/-25m

Sukari Porphyry

Ptah Intersections

Open pit asbuilt 2017

Open Pit Stage 5 Design

Volcano Meta-sediments

Porphyry-Keel

50.4m @ 5.3g/t

including:

4.0m @ 22.7g/t

3.55m @ 7.75g/t

5.4m @ 4.45g/t

HORUS

Buthinae Fault (E-W Fault controlling NE

plunge)

1.7m @ 50.2g/t

Buthinae Fault

SUKARI LONG TERM SUSTAINABILITYPTAH ZONE

25

WEST AFRICAExploration led growth

DOROPO PROJECT, Cote d’Ivoire

• Resource upgrade:

1.35Moz at 1.3g/t Indicated0.9Moz at 1.2g/t Inferred

• Positive initial metallurgical tests

• Main prospects are within a 7km radius

• Significant target generation within a 35km radius of the resource area

ABC PROJECT, Cote d’Ivoire

• New discovery - the “Archaean-Birimian Contact” Project

• Outcropping 12km gold mineralised structure.

• The licence holding includes 80km strike on the Archaean margins

BATIE WEST PROJECT, Burkina Faso

• Identified near term resource growth potential at Konkerafollowing targeted drill programme throughout 2017

District scale exploration >4,500km2 total licence holding + c.2,500km2 under application

Exploration strategy is focused on near term resource growth Doropo reserve/internal feasibility and new target generation

Progressing attractive organic future growth options with multiple high-grade and near surface prospects identified

26

CÔTE D’IVOIREDoropo Project - significant resource growth potential

Doropo Resource Area• 1.35Moz Indicated, 0.9Moz Infered resource

concentrated within a 7km radius

• Main structures remain open; Q1 drilling of structural extensions returned positive results, extending Souwa and Chegue, identifying further exploration targets

• Early metallurgical test work on the Souwa deposit fresh material returned 85%-91% recoveries

• Detailed assays on the oxide material currently at the AMMTEC labs

Doropo Project Area• Extensive geomapping and geochem of the 35km

radius exploration area

• Identified multiple new surface anomalies, including 8km strike soil anomaly across the Tehini 1 and 2 permits

• Identified numerous exploration targets.

27

CÔTE D’IVOIREABC Project – targeting maiden resource

Kona permit, Lolosso structure• 1,545m diamond drilling completed, intersecting mineralisation and

alterations throughout the entire drill core.

• 3,084m auger drilling completed and GAIP survey extension

• Geological mapping confirmed Lolosso structure extends ~80km, over the FarakoNafana permit.

Figure. Lolosso structure selected initial drill intersectionsFigure. ABC Project license holding

28

BURKINA FASOBatie West - Near resource extension potential

Figure. Batie West Project, Q1 2018 work completed

Figure. Napelepera prospect

Batie West Project

• In Q1, 29,470m AC drilling, mainly on Konkera

West/East, successfully delineating strike

extensions to the current resource area

• 2,565m of trenching

29

SUMMARYMilestones achieved

Q1 2018 ACHIEVEMENTS

Solid overall performance

✓Production of 124koz at US$581/oz cash costs and US$825/oz AISC

✓Encouraging exploration results from our West African portfolio and Sukari underground, underpinning

long term sustainability

✓Strong balance sheet with US$426.5m, no debt, no hedging

2018 ONGOING STRATEGIC PRIORITIES

Profitable growth over volume

➢Deliver on guidance

➢Underground reserve replacement

➢Grow Doropo Resource and assess feasibility of a development project

➢Significant exploration target generation across the portfolio

➢Progress Sukari solar project feasibility study

➢Return excess cash to shareholders

30

•APPENDIX

CASH BRIDGE Q4 2017 TO Q1 2018

31

359.7 395.6

172.5 10.4

2.0

88.5

24.4 7.7

28.4

Cash andequivalents Q4

2017

Revenue Group operatingcosts (cash)

Change inworking capital

Other charges Sustainingcapital

expenditure

Non-sustainingand exploration

Profit sharepayments

Cash andequivalents Q1

2018

US$35.9 million

Note: Change in cash and cash equivalents includes impact of foreign exchange rate changes of US$1.4 million in Q1 2018

FREE CASH FLOW BRIDGE Q1 2018 vs Q4 2017

32

49.1

34.5

9.2 3.7

6.6

22.2

4.8

4.8 2.3

Free Cash Flow Decrease ingross revenue

Increase ingroup operating

costs (cash)

Change inworking capital

movements

Increase in otherchanges

Decrease insustaining

capitalexpenditure

Increase in non-sustaining and

explorationspend

Decrease inprofit sharepayments

Free Cash FlowQ1 2018

Free cash flow in a non-GAAP measure defined as Net cash generated by operating activities, less net cash used in investing activities, less EMRA profit share paid (cash)

(US$14.6 million)

33

STRATEGIC OBJECTIVES Maintaining a consistent strategy

• Large-scale, long-life, low-cost asset

• Strong margins and return on capital throughout cycle

• Debt-free, cash and liquid assets of $427 million (31 March 2018)

Long-term sustainability

• Focus on cash flow generation

• Profit share with our partners, EMRA

• Dividends take first priority on uses of free cash flow

Prioritising stakeholder returns

• Scope to increase: high-grade underground production; plant throughput and open-pit mining rate

• Minimal non-sustaining growth capex requirementsOptimise Sukari

• Leading land-position in West African greenstone belt

• Updated resource declared in Cote d’Ivoire

• Significant gold deposits identified in Burkina Faso

Greenfieldsgrowth

Andrew Pardey,

Chief Executive Officer

Ross Jerrard,

Chief Financial Officer

Alexandra Carse,Investor Relations

alexandra.carse@centamin.je