Endeavour Announces Renewal of Normal Course Issuer Bid

        

ENDEAVOUR ANNOUNCES RENEWAL
OF NORMAL COURSE ISSUER BID

London, 20 March 2025 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour” or the “Company”) has received approval from the Toronto Stock Exchange (“TSX”) to renew its Normal Course Issuer Bid (“NCIB”) for its share buyback programme, with respect to its ordinary shares (the “shares”) in order to continue supplementing its shareholder returns.

Under the NCIB, Endeavour may, over the 12-month period of the NCIB, repurchase up to a maximum of 13,902,435 shares, such amount representing 10% of the public float of the shares issued and outstanding as of 12 March 2025, and up to 25% of the average daily trading volume (“ADTV”) for the six months ended 28 February 2025, calculated in accordance with the rules of the TSX for purposes of the NCIB or 116,218 shares during each trading day, excluding purchases made in accordance with the block purchase exemptions under applicable TSX policies. All shares repurchased under the share repurchase programme will be cancelled. The renewed NCIB will commence on 24 March 2025 and end on 23 March 2026, or such earlier date as Endeavour may complete its purchases pursuant to the notice of intention filed with the TSX. As of 12 March 2025, there were 243,622,876 shares issued and outstanding.

Under Endeavour’s prior NCIB (the “2024 NCIB”), which commenced on 22 March 2024 and ends on 21 March 2025, Endeavour obtained approval to purchase up to a total of 12,259,943 shares, of which 2,432,691 shares were purchased at a weighted average price of approximately CDN$28.80. Purchases made under the 2024 NCIB were made on the open market through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems and on the London Stock Exchange. All shares purchased under the 2024 NCIB by Endeavour were or will be cancelled.

Endeavour believes that purchases under the NCIB constitute a desirable use of its funds on the basis that, from time to time, market prices of the shares may not fully reflect the value of Endeavour’s business and future business prospects.

Endeavour’s previously announced automatic share purchase agreement with Stifel Nicolaus Europe Limited (“Stifel”) will continue to allow for the purchase of shares, subject to certain trading parameters, at times when Endeavour would not be active in the market due to regulatory close periods, its own internal trading black-out periods, insider trading rules or otherwise. Outside of these periods, shares may be repurchased in accordance with management’s discretion and in compliance with applicable law.