Disclaimer and Forward-Looking Statements This presentation has been prepared solely for information and does not purport to contain all of the information that may be necessary or desirable to fully and accurately evaluate Caledonia Mining Corporation Plc ("Caledonia" or "the Company") or its business prospects. For the purposes of this notice, "presentation" includes this document, any oral presentation, any questions and answer session and any written or oral material discussed or distributed by the Comp ...

Core Viewpoint - The article discusses the various risks and uncertainties that could impact the mining industry, particularly focusing on mineral exploration, development, and mining operations [1]. Group 1: Risks and Uncertainties - Risks related to estimates of mineral reserves and resources may prove to be inaccurate, which could significantly affect financial outcomes [1]. - Fluctuations in gold prices and payment terms for gold sold are highlighted as critical factors influencing the industry's profitability [1]. - The article outlines various operational risks, including environmental hazards, industrial accidents, and unexpected geological formations that could disrupt mining activities [1]. Group 2: Financial and Operational Considerations - The creditworthiness and financial condition of suppliers and refiners are essential considerations for the mining group, as they can impact operational stability [1]. - The article mentions the potential for increased capital and operating costs, which could strain financial resources and affect project viability [1]. - The speculative nature of mineral exploration and the risks associated with obtaining necessary licenses and permits are emphasized as significant challenges for companies in the sector [1]. Group 3: External Factors - Political risks, natural disasters, and public health concerns, including epidemics, are identified as external factors that could adversely affect mining operations [1]. - The increasing costs associated with mining inputs and labor are noted as a growing concern for the industry [1]. - Competition in the mining sector for properties, equipment, and qualified personnel is highlighted as a factor that could impact operational efficiency and costs [1].

Core Insights - Caledonia Mining Corporation reported a strong Q3 2025 with a 52% increase in revenue driven by higher gold prices and production levels [4][7][15] - The company produced 19,106 ounces of gold during the quarter, with a significant increase in free cash flow [4][7] - A tragic fatality occurred during the quarter, prompting a review of safety procedures [5][7] Financial Performance - Revenue for Q3 2025 reached $71.4 million, up from $46.9 million in Q3 2024, marking a 52.4% increase [7][53] - Gross profit increased to $36.9 million compared to $19.3 million in Q3 2024 [7][53] - EBITDA rose to $33.5 million, a 162.6% increase from $12.8 million in Q3 2024 [7][53] - Profit after tax surged to $18.7 million, a 467.0% increase from $3.3 million in Q3 2024 [7][53] - Free cash flow improved to $5.9 million from a negative $2.4 million in Q3 2024 [7][53] Production and Sales - Gold production at Blanket was 19,106 ounces, slightly higher than 18,992 ounces in Q3 2024 [18][19] - Gold sold increased to 20,792 ounces, an 8.7% rise from 19,136 ounces in the comparative quarter [7][19] - The average realized gold price increased by 40.3% to $3,434 per ounce [7][15] Cost Metrics - On-mine costs per ounce sold were $1,228, a 16.3% increase compared to Q3 2024 [7][16] - All-in sustaining costs (AISC) rose to $1,937 per ounce sold, a 29.0% increase from the previous year [7][17] - The company anticipates AISC guidance for 2025 to be revised to $1,850 to $1,950 per ounce due to higher costs [12][14] Safety and Operational Updates - The Group's Lost Time Injury Frequency Rate (LTIFR) was 0.56, a slight increase from 0.55 in Q3 2024 [6] - A comprehensive review of safety procedures was initiated following a fatality at the Blanket Mine [5][7] Capital Expenditure and Liquidity - Capital expenditure for Q3 2025 was $6.8 million, with ongoing investments aimed at modernizing operations [7][34] - Total liquidity stood at $44.3 million, supporting ongoing capital projects [7][38] Exploration and Future Plans - The Bilboes feasibility study is expected to be released imminently [7][33] - Exploration activities are ongoing at Blanket and the Motapa project, with significant investments planned for 2025 [24][30]

Core Viewpoint - Caledonia Mining Corporation Plc has appointed Mr. July Ndlovu as an independent non-executive director to its board, bringing extensive experience in the mining sector to support the company's growth strategy [1][6]. Group 1: Appointment Details - Mr. July Ndlovu has over 28 years of leadership experience in the mining sector across Southern Africa, most recently serving as CEO of Thungela Resources Limited [2][3]. - His career includes significant roles at major mining companies, focusing on strategic leadership, operational excellence, and corporate governance [3][4]. - Ndlovu holds a Master's degree in Business Leadership and a BSc in Metallurgical Engineering [5]. Group 2: Board Impact - The Chairman of Caledonia, John Kelly, expressed confidence that Ndlovu's experience in scaling and transforming mining businesses will provide valuable insights as the company enters its next growth phase [6][7]. - Ndlovu's commitment to responsible leadership and stakeholder engagement aligns with the board's priorities, enhancing the company's governance framework [6]. Group 3: Current and Previous Roles - Ndlovu currently serves as an independent non-executive director at AECI Limited and has held various directorships in the mining sector [4][9]. - He is a 36% shareholder in Fremiro Investments (Private) Limited, which holds 567,266 shares in Caledonia [10].

Core Viewpoint - Caledonia Mining Corporation Plc is set to release its operating and financial results for Q3 2025 on November 10, 2025, with a remote presentation for analysts and investors scheduled for the same day at 2:00pm London time [1]. Group 1 - The Q3 2025 results presentation will be accessible on Caledonia's official website [2]. - A registration link for the Q3 2025 Results Call for Investors is provided, indicating the importance of investor engagement [3]. - Cavendish Capital Markets Limited has been appointed as the Company's Nominated Adviser and Sole Broker in the UK, reflecting a strategic partnership for market operations [3].

Core Insights - The article highlights Steven Cress's role as VP of Quantitative Strategy and Market Data at Seeking Alpha, emphasizing his contributions to the platform's quantitative stock rating system and analytical tools designed to aid investors [1][2][3] Company Overview - Seeking Alpha has developed a quantitative stock rating system that interprets data for investors, providing insights on investment directions and saving time for users [1][2] - The platform features a systematic stock recommendation tool called Alpha Picks, aimed at helping long-term investors build a high-quality portfolio [1] Leadership Background - Steven Cress previously founded CressCap Investment Research, which was acquired by Seeking Alpha in 2018, enhancing the platform's quant analysis and market data capabilities [3] - He also established the quant hedge fund Cress Capital Management and has extensive experience in proprietary trading at Morgan Stanley and international business development at Northern Trust [3][4] Expertise and Approach - With over 30 years of experience in equity research, quantitative strategies, and portfolio management, Steven Cress is positioned to address a variety of investment topics [4] - The company employs a data-driven approach to eliminate emotional biases in investment decisions, utilizing sophisticated algorithms to streamline investment research [2]

Core Viewpoint - Caledonia Mining Corporation Plc reported solid gold production results from the Blanket Mine in Zimbabwe for Q3 2025, with a commitment to safety and increased production guidance for the year [2][5]. Production Performance - Quarterly gold production reached 19,106 ounces, a slight increase from 18,992 ounces in Q3 2024 [5]. - Total gold produced in the nine months ending September 2025 was 58,846 ounces, compared to 56,815 ounces in the same period of 2024 [5]. - The company maintains its increased production guidance for 2025, targeting between 75,500 and 79,500 ounces [5]. Safety and Workforce - The company expressed condolences for the loss of a colleague due to an accident at the mine, emphasizing that the safety and well-being of the workforce is a top priority [2]. Strategic Investments - The consistency in output is attributed to strategic investments made across the business, indicating a focus on operational efficiency and production stability [3]. Technical Oversight - The scientific and technical information in the announcement has been reviewed and approved by a qualified person, ensuring compliance with relevant regulations [3].

Core Points - Caledonia Mining Corporation Plc announced that two consultants exercised options for a total of 10,000 common shares at an exercise price of US$9.49 per share [1] - Following the issuance of these shares, the total number of shares in circulation will be 19,304,784 common shares, with no shares held in treasury [3] - Caledonia has applied for depositary interests equivalent to the option shares to be admitted to trading on AIM, expected to commence on October 7, 2025 [2]

Core Insights - Gold prices have reached record highs due to Federal Reserve Chair Jerome Powell's cautious economic outlook, which has increased investor demand for gold [1] - The metal has experienced five consecutive weekly gains, with a nearly 40% increase in value this year, driven by expectations of continued Federal Reserve rate cuts and economic uncertainty [2] Company Insights - Caledonia Mining Corporation (CMCL) reported exceptional Q2 results, achieving record production of 21,070 ounces at its Blanket Mine, leading to a 30% revenue increase to $65 million and a 147% surge in net profit to $20 million [4] - The Blanket Mine processed a record 204,915 tonnes at an improved grade of 3.31 grams per tonne, achieving a recovery rate of 94.41% [5] - CMCL raised its full-year production guidance to 77,500-79,500 ounces, reflecting strong operational performance [5] - The company reported operating cash flows of $28 million and a net cash position of $26 million, bolstered by a strategic sale of its solar plant for $22.4 million [6] - CMCL's disciplined capital allocation and operational capabilities position it well to benefit from rising gold prices, with a 10-year track record of outperforming the GDXJ index [7]

Core Points - Caledonia Mining Corporation Plc reported a fatal accident at the Blanket Mine in Zimbabwe on September 22, 2025, resulting in the death of one employee due to secondary blasting [1][2] Group 1 - The company's immediate priority is to ensure the safety and well-being of all individuals involved in the incident [2] - A thorough investigation into the circumstances surrounding the accident will be conducted, with further details pending the outcome of an enquiry by relevant authorities [2] - Caledonia Mining expresses condolences to the family and colleagues of the deceased employee [2]