Unaudited interim outcomes for the three and nine-month durations ended 30 September 2025

Unaudited interim outcomes for the three and nine-month durations ended 30 September 2025

Serabi (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian centered gold mining and improvement firm, is happy to launch its unaudited interim outcomes for the three and nine-month durations ended 30 September 2025 (all foreign money quantities are expressed in US {Dollars} until in any other case said) .

HIGHLIGHTS

• Gold manufacturing for the primary 9 months of 2025 of 32,634 ounces (corresponding nine-month interval of 2024: 27,499 ounces), positioning the Firm on monitor for full 12 months steering, with file Q3 manufacturing of 12,090 ounces.
• Money held at 30 September 2025 of $38.8 million (31 December 2024: $22.2 million).
• Web money at quarter-end (after curiosity bearing loans and lease liabilities) of $33.0 million (Q2-2025: $24.6 million).
• EBITDA for the nine-month interval of $48.2 million (corresponding nine-month interval of 2024: $24.7 million).
• Submit-tax revenue for the nine-month interval of $34.9 million (corresponding nine-month interval of 2024: $17.8 million).
• Revenue per share of 46.10 cents (corresponding nine-month interval of 2024: 23.55 cents).
• Web money influx from operations for the nine-month interval (after mine improvement expenditure of $4.1 million) of $34.3 million (corresponding nine-month interval of 2024: $18.2 million influx, after mine improvement expenditure of $4.9 million).
• Common gold worth of $3,244 per ounce acquired on gold gross sales through the nine-month interval (corresponding nine-month interval of 2024: $2,338).
• Money Price for the nine-month interval to 30 September 2025 of $1,429 per ounce (corresponding nine-month interval of 2024: $1,405 per ounce).
• All-In Sustaining Price for the nine-month interval to 30 September 2025 of $1,816 per ounce (corresponding nine-month interval of 2024: $1,790 per ounce).

The total interim statements along with commentary could be accessed on the Firm’s web site utilizing the next LINK .

Colm Howlin, CFO, Commented

“The 9 months to 30 September 2025 have delivered robust monetary and operational efficiency for the Firm inserting us firmly on monitor to satisfy full-year steering. Gold manufacturing for the 12 months so far totalled 32,634 ounces, a 19% enhance in contrast with the identical interval of 2024.

The continued robust operational efficiency mixed with increased common gold costs has pushed a 95% year-on-year enhance in EBITDA to $48.2 million and the Firm closed the quarter with a money steadiness of $38.8 million, up from $22.2 million at 31 December 2024. Web money influx from operations for the nine-month interval, after mine improvement expenditure of $4.1 million, was $34.3 million, highlighting the robust cash-generating capability of the enterprise.

All-In Sustaining Price (AISC) averaged $1,816 per ounce for the interval, reflecting the affect of ongoing improvement funding and inflationary price pressures. We proceed to strengthen our steadiness sheet with margins remaining sturdy, supported by agency gold costs, increased manufacturing volumes, and disciplined price management.

Submit-tax revenue for the 9 months was $34.9 million, equating to earnings of 46.10 cents per share, in contrast with $17.8 million and 23.55 cents per share in 2024.

In parallel, exploration and useful resource improvement drilling continued throughout each the Palito Complicated and Coringa, with roughly 27,937 metres accomplished 12 months so far. Early outcomes are encouraging, supporting the Firm’s goal of accelerating sources to the 1.5-2.0Moz vary within the oncoming years as a part of Part 2 of our development technique.

With robust money era, a strong steadiness sheet, and a transparent deal with operational excellence, the Firm stays effectively positioned to shut 2025 with continued momentum and to ship additional development into 2026.”

Overview of the monetary outcomes

Within the first 9 months of 2025, the Group has reported income and working prices associated to the sale of 32,106 ounces (32,634 ounces produced). This compares to gross sales reported of 28,912 ounces within the first 9 months of 2024. Reported revenues and prices replicate the ounces offered in every interval and because of this whole prices for the nine-month interval are increased than for the corresponding interval of 2024.

On 7 January 2024, the Group accomplished a $5.0 million unsecured mortgage association with Brazilian financial institution Itau which carried a hard and fast curiosity coupon of 8.47 per cent. The mortgage was repaid as a bullet fee on 6 January 2025. On 22 January 2025, the Group accomplished an additional $5.0 million unsecured mortgage association with a distinct Brazilian financial institution (Santander) which carries a hard and fast curiosity coupon of 6.16 per cent. This mortgage is repayable on 16 January 2026. The Firm had a web money steadiness on the finish of Q3-2025 (after curiosity bearing loans and lease liabilities) of $33.0 million (31 December 2024: web money $16.2 million).

The ore sorter at Coringa has now been operational for 9 months and has carried out exceptionally throughout this era. Benefiting from beneficial economics, the ore sorter has been utilised to course of low-grade ore that had been stockpiled for the reason that graduation of operations on the mine, whereas higher-grade ROM has continued to be transported on to the Palito Complicated plant. Because of this strategy, gold manufacturing from Coringa is predicted to exceed the unique plan for the 12 months.

Key Monetary Data

About Serabi Gold plc
Serabi Gold plc is a gold exploration, improvement and manufacturing firm centered on the prolific Tapajós area in Para State, northern Brazil. The Firm has constantly produced 30,000 to 40,000 ounces per 12 months with the Palito Complicated and is planning to double manufacturing within the coming years with the development of the Coringa Gold challenge. Serabi Gold plc just lately made a copper-gold porphyry discovery on its in depth exploration licence. The Firm is headquartered in the UK with a secondary workplace in Toronto, Ontario, Canada.

The data contained inside this announcement is deemed by the Firm to represent inside info as stipulated beneath the Market Abuse Rules (EU) No. 596/2014 because it varieties a part of UK Home Regulation by advantage of the European Union (Withdrawal) Act 2018.

The one who organized for the discharge of this announcement on behalf of the Firm was Andrew Khov, Vice President, Investor Relations & Enterprise Improvement.

Enquiries

Michael Hodgson t + 44 (0)20 7246 6830
Chief Govt m +44 (0)7799 473621

Colm Howlin
Chief Monetary Officer m +353 89 6078171

Andrew Khov m +1 647 885 4874
Vice President, Investor Relations &
Enterprise Improvement
e contact@serabigold.com

www.serabigold.com

BEAUMONT CORNISH Restricted
Nominated Adviser & Monetary Adviser
Roland Cornish / Michael Cornish t +44 (0)20 7628 3396

PEEL HUNT LLP
Joint UK Dealer
Ross Allister / Georgia Langoulant t +44 (0)20 7418 9000

TAMESIS PARTNERS LLP
Joint UK Dealer
Charlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868

CAMARCO
Monetary PR – Europe
Gordon Poole / Fergus Younger t +44 (0)20 3757 4980

Copies of this announcement can be found from the Firm’s web site at www.serabigold.com .

Ahead-looking statements
Sure statements on this announcement are, or could also be deemed to be, ahead trying statements. Ahead trying statements are identified by their use of phrases and phrases equivalent to ‘‘imagine”, ‘‘may”, “ought to” ‘‘envisage”, ‘‘estimate”, ‘‘intend”, ‘‘might”, ‘‘plan”, ‘‘will” or the damaging of these, variations or comparable expressions, together with references to assumptions. These forward-looking statements should not primarily based on historic information however quite on the Administrators’ present expectations and assumptions concerning the Firm’s future development, outcomes of operations, efficiency, future capital and different expenditures (together with the quantity, nature and sources of funding thereof), aggressive benefits, enterprise prospects and alternatives. Such ahead trying statements reflect the Administrators’ present beliefs and assumptions and are primarily based on info presently accessible to the Administrators. Quite a lot of elements may trigger precise outcomes to vary materially from the outcomes mentioned within the forward-looking statements together with dangers related to vulnerability to basic financial and enterprise situations, competitors, environmental and different regulatory modifications, actions by governmental authorities, the supply of capital markets, reliance on key personnel, uninsured and underinsured losses and different elements, lots of that are past the management of the Firm. Though any forward-looking statements contained on this announcement are primarily based upon what the Administrators imagine to be affordable assumptions, the Firm can’t guarantee buyers that precise outcomes will likely be in line with such ahead trying statements.

Certified Individuals Assertion
The scientific and technical info contained inside this announcement has been reviewed and authorized by Michael Hodgson, a Director of the Firm. Mr Hodgson is an Financial Geologist by coaching with over 35 years’ expertise within the mining trade. He holds a BSc (Hons) Geology, College of London, a MSc Mining Geology, College of Leicester and is a Fellow of the Institute of Supplies, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as each a Certified Particular person for the needs of Canadian Nationwide Instrument 43-101 and by the AIM Steering Notice on Mining and Oil & Fuel Firms dated June 2009.

Discover
Beaumont Cornish Restricted, which is authorised and controlled in the UK by the Monetary Conduct Authority, is appearing as nominated adviser to the Firm in relation to the issues referred herein. Beaumont Cornish Restricted is appearing solely for the Firm and for nobody else in relation to the issues described on this announcement and isn’t advising every other individual and accordingly won’t be accountable to anybody apart from the Firm for offering the protections afforded to purchasers of Beaumont Cornish Restricted, or for offering recommendation in relation to the contents of this announcement or any matter referred to in it.

Neither the Toronto Inventory Change, nor every other securities regulatory authority, has authorized or disapproved of the contents of this information launch.

See www.serabigold.com for extra info and comply with us on twitter @Serabi_Gold

The next info, comprising, the Earnings Assertion, the Group Stability Sheet, Group Assertion of Modifications in Shareholders’ Fairness, and Group Money Stream, is extracted from the unaudited interim monetary statements for the three and 9 months to 30 September 2025.

Assertion of Complete Earnings
For the three and nine-month durations ended 30 September 2025.

(1) The Group has no non-controlling pursuits and all earnings are attributable to the fairness holders of the Father or mother Firm

Stability Sheet as at 30 September 2025

Statements of Modifications in Shareholders’ Fairness
For the nine-month interval ended 30 September 2025

(1) Different reserves comprise a merger reserve of US$361,461 and a taxation reserve of US$22,477,564 (31 December 2024: merger reserve of US$361,461 and a taxation reserve of US$19,125,223).

Condensed Consolidated Money Stream Assertion
For the three and nine-month durations ended 30 September 2025

Notes

1. Foundation of preparation

1. Foundation of preparation
These interim condensed consolidated monetary statements are for the three and nine-month durations ended 30 September 2025. Comparative info has been supplied for the unaudited three and nine-month durations ended 30 September 2024 and, the place relevant, the audited twelve-month interval from 1 January 2024 to 31 December 2024. These condensed consolidated monetary statements don’t embody all of the disclosures that might in any other case be required in an entire set of monetary statements and needs to be learn along with the 2024 annual report.
The condensed consolidated monetary statements for the durations have been ready in accordance with Worldwide Accounting Normal 34 “Interim Monetary Reporting” and the accounting insurance policies are in line with these of the annual monetary statements for the 12 months ended 31 December 2024 and people envisaged for the monetary statements for the 12 months ending 31 December 2025.

The interim monetary info has not been audited and doesn’t represent statutory accounts as outlined in Part 434 of the Firms Act 2006. While the monetary info included on this announcement has been compiled in accordance with Worldwide Monetary Reporting Requirements (“IFRS”) this announcement itself doesn’t include ample monetary info to adjust to IFRS. The Group statutory accounts for the 12 months ended 31 December 2024 ready in accordance with worldwide accounting requirements in conformity with the necessities of the Firms Act 2006 have been filed with the Registrar of Firms. The auditor’s report on these accounts was unqualified. The auditor’s report didn’t include a press release beneath Part 498 (2) or 498 (3) of the Firms Act 2006.

Accounting requirements, amendments and interpretations efficient in 2025
The Group has not adopted any requirements or amendments upfront of their efficient date. The next new modification has been issued by the IASB and is efficient for annual durations starting on or after 1 January 2025:

Amendments to IAS 21 – The Results of Modifications in International Change Charges: Lack of Exchangeability
The amendments present steering for figuring out the spot trade charge when exchangeability between two currencies is missing. They make clear when a foreign money is taken into account exchangeable and introduce a strategy for estimating an acceptable trade charge when mandatory. The Group doesn’t count on a cloth affect on its monetary statements from these amendments.

No different requirements or amendments are anticipated to be efficient in 2025.

Sure new accounting requirements and interpretations have been printed that aren’t necessary for the present interval and haven’t been early adopted. These requirements should not anticipated to have a cloth affect on the Firm’s present or future reporting durations.

These monetary statements don’t represent statutory accounts as outlined in Part 434 of the Firms Act 2006.

(i) Going concern

At 30 September 2025 the Group held money of US$38.8 million which represents a rise of US$16.6 million in comparison with 31 December 2024.

On 7 January 2024, the Group accomplished a US$5.0 million unsecured mortgage association with Brazilian financial institution Itau which carried a hard and fast curiosity coupon of 8.47 per cent. The mortgage was repaid as a bullet fee on 6 January 2025. On 22 January 2025, the Group accomplished an additional US$5.0 million unsecured mortgage association with a distinct Brazilian financial institution (Santander) which carries a hard and fast curiosity coupon of 6.16 per cent. This mortgage is repayable on 16 January 2026.

Administration prepares, for Board evaluation, common updates of its operational plans and money circulate forecasts primarily based on their greatest judgement of the anticipated operational efficiency of the Group and utilizing financial assumptions that the Administrators think about are affordable within the present international financial local weather. The present plans assume that in 2025 the Group will proceed gold manufacturing from its Palito Complicated operation in addition to enhance manufacturing from the Coringa mine and can be capable to enhance gold manufacturing to exceed the degrees of 2024.

The Administrators will restrict the Group’s discretionary expenditures, when mandatory, to handle the Group’s liquidity.

The Administrators acknowledge that the Group stays topic to operational and financial dangers and any unplanned interruption or discount in gold manufacturing or unexpected modifications in financial assumptions might adversely have an effect on the extent of free money circulate that the Group can generate on a month-to-month foundation. The Administrators have an affordable expectation that, after taking into consideration moderately attainable modifications in buying and selling efficiency, and the present macroeconomic state of affairs, the Group has satisfactory sources to proceed in operational existence for the foreseeable future. Thus, they proceed to undertake the going concern foundation of accounting in getting ready the Monetary Statements.

2. Different Earnings and Bills

Below the copper exploration alliance with Vale introduced on 10 Might 2024, the associated exploration actions undertaken by the Group beneath the administration of a working committee (comprising representatives from Vale and Serabi), have been funded of their entirety by Vale throughout Part 1 of the programme. Following the completion of Part 1, Vale suggested the Group, in April 2024, that it didn’t want to proceed the exploration alliance.

Exploration and improvement of copper deposits isn’t the core exercise of the Group and additional funding past the Part 1 dedication can be required earlier than a judgment may very well be made as to a challenge being commercially viable. There’s a important price concerned in growing new copper deposits and it’s unlikely that, with out the monetary assist of a companion, the Group would independently search to develop a copper challenge instead of any of its present gold tasks and discoveries. In consequence, each the funding acquired from Vale and the associated exploration expenditures has been recognised by way of the revenue assertion. As this isn’t a principal enterprise exercise of the Group these receipts and expenditures are categorized as different revenue and different bills.

3. Finance expense and revenue

4. Taxation

The Group has recognised a deferred tax asset to the extent that the Group has affordable certainty as to the extent and timing of future earnings that is perhaps generated and in opposition to which the asset could also be recovered. The deferred tax legal responsibility arising on unrealised trade positive aspects has been eradicated in earlier durations, and the stronger Brazilian Actual trade charge on the finish of the interval has resulted in deferred tax revenue of US$1,405,796 (9 months to 30 September 2024 – revenue of US$946,220).

The Group has additionally incurred a tax cost in Brazil for the nine-month interval of US$8,619,461 (9 months to 30 September 2024 tax cost – US$3,783,403).

5. Earnings per Share

(1) At 30 September 2025 there have been 2,728,049 conditional share awards in concern (30 September 2024 – 2,814,541). These are topic to efficiency situations which can or not be fulfilled in full or partly. These CSAs haven’t been included within the calculation of the diluted earnings per share.

6. Submit steadiness sheet occasions

There was no merchandise, transaction or occasion of a cloth or uncommon nature doubtless, within the opinion of the Administrators of the Firm to have an effect on considerably the persevering with operation of the entity, the outcomes of those operations, or the state of affairs of the entity in future monetary durations.

• PR Q3 F2025 Monetary Outcomes 2025 vF