Centerra Gold Announces TSX Acceptance of Renewed Normal Course Issuer Bid and New $75 Million Langeloth Credit Facility

Langeloth’s new financing provides direct access to working capital funding, reducing its reliance on Centerra.

Rhea-AI Summary

Centerra Gold (NYSE: CGAU) received TSX acceptance to renew its share buyback for up to 19,318,076 common shares beginning November 10, 2026. The authorization covers 10% of the public float and runs through November 9, 2027. Purchases are for cancellation, with timing and amounts dependent on market conditions and other factors. Under the previous program, Centerra purchased 8,970,800 shares at a volume-weighted average price of $24.33 per share as of October 31, 2026.

On November 4, 2026, Langeloth entered into a three-year, $75 million asset-based revolving credit facility with ING Capital. It provides direct financing for working capital needs that fluctuate with molybdenum prices and volumes, reducing reliance on Centerra funding. Centerra also intends to establish an automatic share purchase plan to facilitate buybacks during regulatory restrictions or self-imposed blackout periods.

3 points · 0 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Renewed buyback authorizes cancellation of up to 19,318,076 shares, or 10% of public float, November 10, 2026–November 9, 2027.
• Moderate pointLangeloth’s $75 million revolving credit facility with ING Capital provides working capital financing, reducing reliance on Centerra. 1.8% of market cap
• Minor pointPrevious buyback purchased 8,970,800 shares at a $24.33 volume-weighted average price as of October 31, 2026.

Negative

• None.

News Explained

For the renewed bid period from November 10, 2026, through November 9, 2027, OSC relief permits Centerra to buy shares on the NYSE and other U.S. systems up to 10% of public float, rather than the 5%-of-outstanding limit that otherwise applied.

Key Figures

Renewed NCIB maximum: 19,318,076 common shares Public float authorization: 10% Daily purchase limit: 167,484 common shares +4 more

Renewed NCIB maximum

19,318,076 common shares

For cancellation during the renewed NCIB period

Public float authorization

10%

Maximum share purchases under the renewed NCIB

Daily purchase limit

167,484 common shares

Daily limit, except for block purchase exemptions

U.S. purchase exemption

10% of public float

OSC relief allows purchases through U.S.-based trading systems, rather than the stated 5% limit

Langeloth credit facility

$75 million

Asset-based revolving facility for working capital

Credit facility term

Three years

Langeloth facility with ING Capital LLC

Previous NCIB purchases

8,970,800 common shares

Purchased under the previous NCIB as of October 31, 2026

Historical Context

1 past event · Latest: Oct 29

1 event

1. Oct 29

   NCIB renewal intent

   24h Move

   -1.1%

   Q3 release said Centerra intended to renew its NCIB, subject to TSX approval.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

normal course issuer bid, automatic share purchase plan, asset-based revolving credit facility, volume weighted average price

4 terms

normal course issuer bid regulatory

"accepted the renewal of its normal course issuer bid"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

automatic share purchase plan financial

"intends to establish an automatic share purchase plan"

An automatic share purchase plan is a pre-arranged agreement that allows investors to buy a set amount of a company's shares at regular intervals without needing to make individual decisions each time. It helps investors steadily build their holdings over time, much like setting a recurring deposit into a savings account, making investing more disciplined and less influenced by short-term market fluctuations.

asset-based revolving credit facility financial

"entered into a three-year, $75 million asset-based revolving credit facility"

A loan arrangement where a lender agrees to make funds available up to a set limit that a borrower can draw, repay, and draw again, with the amount available tied to the value of specific assets (like inventory, receivables, or equipment) pledged as collateral. It matters to investors because it provides flexible working capital while limiting risk exposure: the company can fund growth or cover shortfalls quickly, but borrowing capacity can shrink if asset values fall.

volume weighted average price financial

"at a volume weighted average price of $24.33 per Common Share"

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) (“Centerra” or the “Company”) announced today that the Toronto Stock Exchange (“TSX”) has accepted the renewal of its normal course issuer bid (“NCIB”) for an additional one-year period. The Company also announced that its Langeloth Metallurgical Facility (“Langeloth”) has entered into a new $75 million working capital credit facility.

Renewal of NCIB

The TSX has accepted Centerra’s renewal of an NCIB to purchase for cancellation up to 19,318,076 common shares of Centerra (“Common Shares”) during the twelve-month period commencing on November 10, 2026 and ending on November 9, 2027, which represents 10% of the public float. As of October 31, 2026, Centerra had 193,671,809 Common Shares issued and outstanding.

Under the NCIB, daily purchases would be limited to 167,484 Common Shares, representing 25% of the average daily trading volume of 669,937 Common Shares on the TSX from May 1, 2026 to October 31, 2026, except for purchases made under block purchase exemptions. Following activation of the NCIB, the exact timing and amount of any purchases will depend on market conditions and other factors. Centerra is under no obligation to purchase any Common Shares and may, at its discretion, suspend or discontinue purchases under the NCIB at any time. Any purchases made under the NCIB will be made at market price at the time of purchase through the facilities of the TSX, the New York Stock Exchange (the “NYSE”) and/or alternative trading systems in Canada or the United States, if eligible, in compliance with applicable securities legislation and stock exchange rules. The Company’s previous NCIB authorized the purchase of up to 20,129,230 Common Shares and expires on November 9, 2026. As of October 31, 2026, a total of 8,970,800 Common Shares were purchased through the facilities of the TSX and alternative Canadian trading systems at a volume weighted average price of $24.33 per Common Share under the Company’s previous NCIB.

On November 3, 2026, the Ontario Securities Commission (“OSC”) granted Centerra exemptive relief allowing the Company to purchase up to 10% of its public float through the NYSE and other U.S.-based trading systems during the 12-month NCIB period, rather than being limited to purchasing 5% of its outstanding Common Shares at the beginning of the 12-month period. A copy of the OSC decision has been filed under Centerra’s SEDAR+ profile at www.sedarplus.ca.

In connection with the renewed NCIB, Centerra intends to establish an automatic share purchase plan based on Company instructions provided to the designated broker to facilitate the purchase of Common Shares during times when the Company would ordinarily be restricted from doing so due to regulatory restrictions or self-imposed black-out periods. Centerra may, but is not required to, instruct its designated broker to make purchases under the NCIB based on parameters set by Centerra in accordance with the automatic share purchase plan, applicable securities laws and stock exchange rules.

Centerra believes that its Common Shares continue to trade within a price range which does not fully reflect the underlying value the Company’s assets or it’s future prospects. As a result, Centerra views the NCIB as a flexible tool to allocate a portion of its cash balance within its capital allocation framework to enable the Company to purchase Common Shares for cancellation while maintaining a robust balance sheet.

New Langeloth Working Capital Credit Facility

On November 4, 2026, Langeloth entered into a three-year, $75 million asset-based revolving credit facility with ING Capital LLC. The facility provides Langeloth with direct access to financing for working capital requirements, which fluctuate with molybdenum prices and volumes, reducing its reliance on funding from Centerra and enhancing the Company’s financial flexibility.

About Centerra Gold

Centerra Gold Inc. is a Canadian-based gold and copper producer and developer headquartered in Toronto, Ontario. The Company operates two mines: the Mount Milligan Mine, a long-life gold-copper asset in British Columbia, Canada, and the Öksüt Mine, a gold asset in Türkiye. Centerra has a self-funded organic growth pipeline in North America, including the Kemess gold-copper Project in British Columbia, Canada, and the Goldfield gold Project in Nevada, United States. The Company also owns and operates US Moly, a vertically integrated molybdenum business in the United States comprising the Thompson Creek Mine in Idaho and the Langeloth Metallurgical Facility in Pennsylvania. Centerra’s shares trade on the Toronto Stock Exchange (TSX: CG) and on the New York Stock Exchange (NYSE: CGAU).

For more information:

Lisa Wilkinson
Vice President, Investor Relations & Corporate Communications
(416) 204-3780
Lisa.Wilkinson@centerragold.com

Additional information on Centerra is available on the Company’s website at www.centerragold.com, on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.

Cautionary Note Regarding Forward-Looking Information

Information contained in this document which are not statements of historical facts may be “forward looking information” for the purposes of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words “expect”, “contemplate”, “may”, “will”, “intend” and similar expressions identify forward-looking information. In particular, such forward-looking statements include, but are not limited to, statements relating to the TSX’s approval of the NCIB, Centerra’s intention to renew the NCIB and the timing, methods and quantity of any purchases of Common Shares under the NCIB, the availability of cash for purchases of Common Shares under the NCIB, compliance with applicable laws and regulations pertaining to the NCIB, Centerra’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political, business, technical, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include the risk factors set forth in the section titled “Risk Factors” in the Company’s most recently filed Annual Information Form, which is available on SEDAR+ at www.sedarplus.com and EDGAR at www.sec.gov/edgar. There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by the forward-looking statements contained or referred to herein. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue reliance on forward looking information. Forward-looking information contained herein is given as of the date of this press release. Centerra assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares can Centerra Gold repurchase under its renewed buyback, and when?

Centerra can purchase for cancellation up to 19,318,076 common shares from November 10, 2026 through November 9, 2027. This represents 10% of its public float. Actual timing and amounts depend on market conditions and other factors; Centerra is not required to make purchases.

What are the terms of Centerra Gold’s new Langeloth credit facility?

Langeloth entered into a three-year, $75 million asset-based revolving credit facility with ING Capital on November 4, 2026. The facility finances working capital requirements that fluctuate with molybdenum prices and volumes and reduces reliance on funding from Centerra.

What purchase limits apply to Centerra Gold’s renewed share buyback?

Daily purchases are limited to 167,484 common shares, except under block purchase exemptions. That limit represents 25% of average daily TSX trading volume from May 1 through October 31, 2026. OSC relief also permits purchases of up to 10% of public float through the NYSE and other U.S.-based trading systems during the 12-month program, rather than the usual 5% of outstanding shares at its start.