Nordgold Announces a New Dividend Policy

London, United Kingdom, 9 April 2021 — Nord Gold plc (“Nordgold” or the “Group”), the internationally diversified gold producer, announces the appointment of Georgy Smirnov as Chief Financial Officer (“CFO”) with effect from 10 April 2021.

London, United Kingdom, 19 March 2021 — Nord Gold UK Societas (“Nordgold” or the “Company”), the internationally diversified gold producer, announces that with an aim to increase the transparency of the dividend decision-making process, and add predictability into capital allocation, the Nordgold’s Board of Directors (the «Board») has approved the following new dividend policy:

• For 2021 financial year only, Nordgold will pay a minimum dividend of US$ 400 million which will be paid in 2 equal instalments following the release of the interim and full year 2021 financial results, the dates of which will be communicated to shareholders with disclosure of the financial results;
• With effect from 2022 financial year, Nordgold intends to pay minimum dividends equivalent to 50% of free cash flow, pre-growth capex , subject to Net Debt/ LTM EBITDA remaining under 1.5x;
• In any reporting period that the Net Debt/ LTM EBITDA ratio increases to above 1.5x the Board will exercise its discretion and may reduce the dividend below the minimum 50% of free cash flow, pre-growth capex;
• Nordgold intends to pay dividends twice a year on a semi-annual basis.

In applying this policy, the Board will have regard for a range of factors including the macroeconomic outlook, business performance, balance sheet position and growth outlook of the Company and may exercise its discretion and revise the calculated pay-out either up or down, to the extent these factors substantially impact the Company.

“Clearly articulating our dividend policy increases transparency and underscores Nordgold’s ambition to create shareholder value. The significant payout ratio indicates the Board’s comfort with the underlying performance of the Company and shows Nordgold’s commitment to returning cash flow to our shareholders through superior sustainable dividends.” Michael NossalNordgold’s Chairman

Enquiries

Nordgold
Olga Ulyeva
Head of Corporate Communications
olga.ulyeva@nordgold.com

Powerscourt
Peter Ogden
Tel: +44 (0) 20 7250 1446

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.