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CG.TO ·

Centerra Gold Announces Quarterly Dividend of C$0.07 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$0.07 per common share

Toronto, Canada, February 25 , 202 2: Centerra Gold Inc. (“Centerra”) (TSX: CG) (NYSE: CGAU)

announced today that its Board of Directors has approved a quarterly dividend of C$0.07 per common share –

approximately C$20.8 million or US$16.3 million. The quarterly dividend is payable on March 25, 2022, to

shareholders of record on March 11, 2022 . The dividend is an eligible dividend for Canadian income tax

purposes.

The Company notes that going forward, in addition to the other factors that the Board of Directors normally

considers in connection with the declaration of dividends, it will also need to carefully consider whether , and

the extent to which, developments relating to the Kumtor Mine and / or COVID-19 affect its dividend program.

In accordance with Centerra’s dividend polic y, 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 requiremen ts, and general business

conditions.

About Centerra Gold

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

acquiring gold properties in North America, Turkey and other markets worldwide. Centerra operates two mines:

the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Turkey. While the Company still

owns the Kumtor Mine in the Kyrgyz Republic, it is currently no longer under the Company’s control. The

Company also owns the pre-development stage Kemess Underground Project in British Columbia, Canada and

owns and operates the Molybdenum Business Unit in the United States. Centerra's shares trade on the Toronto

Stock Exchange (“TSX”) under th e symbol CG and on the New York Stock Exchange (“NYSE”) under the

symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information:

Toby Caron

Treasurer and Director, Investor Relations

(416) 204-1694

[email protected]

Shae Frosst

Manager, Investor Relations

(416) 204-2159

[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 and EDGAR at www.sec.gov/edgar .

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