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CG.TO ·

Centerra Gold Announces Quarterly Dividend of C$0.05 per common share

Corporate Actions

1 University Avenue, Suite 1500

Toronto, ON

M5J 2P1

tel 416-204-1953

fax 416-204-1954

www.centerragold.com

NEWS RELEASE

Centerra Gold Announces Quarterly Dividend of C$0.05 per common share

Toronto, Canada, February 24, 2021: Centerra Gold Inc. (“Centerra”) (TSX: CG) announced today that its

Board of Directors has approved a quarterly dividend of C$0.05 per common share – approximately C$14.8

million or US$11.7 million. The quarterly dividend is payable on April 6, 2021 to shareholders of record on

March 16, 2021. The dividends are eligible dividends for Canadian income tax purposes.

Centerra continues to proactively monitor closely the evolving situation relating to COVID-19 and how it may

affect the Company’s business. The Company notes that going forward, in addition to the other factors that the

Board of Directors normally consider s in connection with the declaration of dividends, it will also need to

carefully consider whether , and the extent to which , developments relating to COVID-19 affect its dividend

program. In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be

determined by the Board of Directors from time-to-time based on, among other things, the Company’s operating

results, cash flow and financial conditions, Centerra’s current and anticipated capital requirements, and general

business conditions.

About Centerra

Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and

acquiring gold properties in North America, Asia and other markets worldwide and is one of the largest

Western-based gold producers in Central Asia. Centerra operates three mines, the Kumtor Mine in the Kyrgyz

Republic, the Mount Milligan Mine in British Columbia, Canada and the Öksüt Mine in Turkey. Centerra's

shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is based in Toronto,

Ontario, Canada.

For more information:

John W. Pearson

Vice President, Investor Relations

(416) 204-1953

[email protected]

Additional information on Centerra is available on the Company’s web site at www.centerragold.com

and at SEDAR at www.sedar.com.

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