Distribute This Announcement. Persons into Whose Possession This Document Comes Are Required to Inform Themselves About, and to Observe, Any Such Restrictions. Endeavour Announces Pricing of US$500.0 Million 5-YEAR Senior Notes
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NEWS RELEASE – LSE: EDV, TSX: EDV
NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT. PERSONS INTO WHOSE POSSESSION THIS DOCUMENT COMES ARE REQUIRED TO
INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.
ENDEAVOUR ANNOUNCES PRICING OF US$500.0 MILLION
5-YEAR SENIOR NOTES
London, 21 May 2025 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (the “Company”, together
with its subsidiaries, the “Group”) is pleased to announce the pricing of its offering (the “Offering”) of US$500.0
million fixed rate senior notes due 2030 (the “Notes”) as part of its refinancing strategy.
Interest on the Notes will be payable semi-annually at a rate equal to 7.000% per annum. The Notes are
expected to settle on or around 28 May 2025, subject to customary conditions, and the Notes will mature on 28
May 2030.
The proceeds of the Notes, together with cash on hand, will be used to (i) finance the purchase of any and all of
the Company’s outstanding U.S.$500.0 million in aggregate principal amount of 5.000% senior notes due 2026
(the “Existing Notes”) validly tendered and accepted for purchase by the Company pursuant to the cash tender
offer launched by the Company concurrently with the Offering (the “Tender Offer” and, together with the
Offering, the “Transactions”) and (ii) pay fees and expenses in relation to the Transactions.
The Notes will extend the maturity of the Company’s existing debt structure providing increased financial
flexibility.
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ABOUT ENDEAVOUR MINING PLC
Endeavour Mining is one of the world’s top gold miners and one of the largest gold producers in West Africa,
with operating assets across Senegal, Côte d ’Ivoire and Burkina Faso and a strong portfolio of advanced
development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West
Africa.
A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and
delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour
is admitted to listing and to trading on th e London Stock Exchange and the Toronto Stock Exchange, under the
symbol EDV.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this press release.
IMPORTANT INFORMATION
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation
of an offer to buy the Notes or the guarantees thereof (the “Guarantees”), nor shall it constitute an offer,
solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale would
be unlawful. The Notes and the Guarantees have not been and will not be registered under the U.S. Securities
Act of 1933 or the securities laws of any other jurisdiction. Securities may not be offered in the United States
absent registration or an exemption from registration. No action has been or will be taken in any jurisdiction in
relation to the Notes or the Guarantees to permit a public offering of securities. There is no assurance that any
Notes offering will be completed or, if completed, as to the terms on which it is completed.
The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should
not be offered, sold or otherwise made available to any retail investor in the European Economic Area (“EEA”).
For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in
point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive 2016/97/EU (as amended,
the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU)
2017/1129 (as amended, the “Prospectus Regulation”). No key information document required by Regulat ion
(EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the Notes or the Guarantees
or otherwise making them available to retail investors in the EEA has been prepared. Offering or selling the
Notes or the Guarantees or otherwise making them available to any retail investor in the EEA may be unlawful
under the PRIIPs Regulation.
The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should
not be offered, sold or otherwise made available to any retail investor in the United Kingdom (the “UK”). For
these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point
(8) of Article 2 of Regulation (EU) No. 2017/565 as it forms part of domestic law by virtue of the EUWA; (ii) a
customer within the meaning of the provisions of the Financial Serv ices and Markets Act 2000 (as amended,
“FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that
customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No.
600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in
Article 2 of the UK Prospectus Regulation. Consequently, no key information document required by Regulation
(EU) No. 1286/2014 as it forms part of domestic law by virtue of the EUWA (as amended the “UK PRIIPs
Regulation”) for offering or selling the Notes or the Guarantees or otherwise making them available to retail
investors in the UK has been prepared, and therefore, offering or selling th e Notes or otherwise making them
available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
MiFID II professionals / ECPs-only / No PRIIPs KID – Manufacturer target market (MiFID II product governance)
is eligible counterparties and professional clients only (all distribution channels).
This announcement is being distributed to, and is directed at, only persons who (i) have professional experience
in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the “Financial Promotion Order”), (ii) are persons falling within
Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, partnerships or high value trusts
etc.) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an
invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial
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Services and Markets Act 2000 (the “FSMA”) in connection with the issue or sale of any securities may otherwise
lawfully be communicated or caused to be communicated (all such persons together being referred to as
“Relevant Persons”) . The investments to which this announcement relates are available only to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available
only to or will be engaged in only with, Relevant Persons. Any person who is not a relevant person should not
act or rely on this announcement or any of its contents. Persons distributing this announcement must satisfy
themselves that it is lawful to do so.
The Notes and the Guarantees have not been nor will they be qualified for sale to the public under applicable
Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis
which is exempt from the prospectus requirements of Canadian securities laws and the Notes will be subject to
“hold period” resale restrictions under applicable Canadian securities laws.
The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons
in such jurisdictions into which they are released, published or distributed, should inform themselves about,
and observe, such restrictions. Any failure to comply with these restrictions may constitute a violation of the
laws of any such jurisdiction.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This announcement contains “forward-looking statements” within the meaning of applicable securities laws. All
statements, other than statements of historical fact, are “forward-looking statements”, including but not limited
to, statements with respect to the Group’s intentions with regards to any offering of the Notes and the
Guarantees. These forward-looking statements can be identified by the use of forward -looking terminology,
including the terms “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,”
“projects,” “forecasts,” “should,” “could,” “would,” “may,” “will” and other similar expressions or, in each case,
their negative or other variations or comparable terminology and similar expressions.
Forward-looking statements, while based on management’s reasonable estimates, projections and assumptions
at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be
materially different from those expressed or implied by such forward-looking statements.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward -looking statements, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can b e no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer
to the Group’s most recent Annual Information Form filed under its profile at www.sedarplus.ca for further
information respecting the risks affecting the Group and its business.
These forward -looking statements speak only as of the date of this announcement. Except as required by
applicable law and regulation, the Company does not undertake any obligation to update or revise any forward-
looking statement, whether as a result of new information, future events or otherwise.
CONTACT INFORMATION
For Investor Relations enquiries: For Media enquiries:
Jack Garman Brunswick Group LLP in London
Vice President of Investor Relations Carole Cable, Partner
+442030112723 +442074045959