Media

Moscow, 23 January 2026 - Seligdar PJSC (MOEX: SELG, hereafter referred to as Holding Group or Seligdar), a Russian gold and tin producer announces its production results for the twelve months ended 31 December 2025 based on operational data. Production of Doré gold by the Holding Group’s companies increased by 10% year-on-year, exceeding 8 tonnes; tin in concentrate rose by 42% year-on-year, reaching a record 3.5 thousand tonnes. Copper in concentrate increased by 16% to 2,380 tonnes, while tungsten in concentrate grew by 87% to 127 tonnes. For the twelve months of 2025, total revenue from sales of gold and concentrates of the Holding Group increased by 49% year-on-year and amounted to Russian roubles 86.9 billion.

GOLD DIVISION [1]

• Run-of-mine material for the twelve months of 2025 increased by 22% year-on-year to 36.3 million cubic metres. The significant growth was driven by the resumption of mining at the Verkhneye and Nadezhda deposits within the Nizhne-Yakokitskiy production complex, as well as the commencement of operations at the Khvoynoye deposit. In addition, the volume of advance stripping works was increased at the Novy site of the Ryabinovoye deposit (Ryabinovy production complex).

• Ore mined for the twelve months of 2025 grew by 51% to 10.8 million tonnes compared to the same period of the previous year. The main increase was also driven by the resumption of mining at the Verkhneye and Nadezhda deposits and the start of operations at Khvoynoye. All ore from these deposits is scheduled to be processed at the Nizhne-Yakokitskiy production complex, including at the new Khvoynoye gold processing plant.

• Sands mined and washed remained broadly flat year-on-year at 1.4 million cubic metres.

• Doré gold production for the twelve months of 2025 increased by 10% compared to 2024 and amounted to 8,077 kg. Strong growth was recorded at the Nizhne-Yakokitskiy (+26%) and Podgolechny (+31%) production complexes. Silver in doré alloy reached 5,991 kg.

• Gold sales amounted to 8,437 kg, up 19% year-on-year. Sales of third-party gold during 2025 were immaterial and totalled 4 kg for the year.

TIN DIVISION

• Ore mined for the twelve months of 2025 increased by 17% year-on-year to 1,253 thousand tonnes. The stable growth throughout 2025 was driven by the renewal of the underground mining equipment fleet.

• Ore processed, including pre-concentration through XRT-sorting, reached 1,218 thousand tonnes, exceeding the prior year by 22%. The increase was supported by the stable operation of XRT sorting units across all production complexes of the division.

• Tin-in-concentrate production for 2025 increased by 42% year-on-year, reaching a historical record of 3,500 tonnes. More than half of this volume was produced at the Solnechny production complex, which, as a result of the ongoing modernisation and efficiency improvement programme, increased tin output by 56%compared to 2024.

• Copper-in-concentrate production increased by 16% to 2,380 tonnes. At the same time, by-product silver contained in copper concentrate increased significantly, amounting to 1.7 tonnes for 2025.

• Tungsten-in-concentrate production reached 127 tonnes, up 87% year-on-year. The growth was achieved through the renewal of flotation machines and the ramp-up to design capacity of the scheelite flotation unit at the concentrator of the Solnechny production complex.

SALES

• Revenue from gold sales for 2025 reached Russian roubles 77.7 billion, an increase of 53% year-on-year. The growth was driven by both a 19% increase in physical gold sales volumes and a 28% rise in the average realised price.

• Revenue from sales of tin, tungsten, and copper concentrates increased by 23% to Russian roubles 9.2 billion, compared to Russian roubles 7.5 billion a year earlier.

• Total revenue from sales of gold, tin, tungsten and copper concentrates for 2025 amounted to Russian roubles 86.9 billion, exceeding the previous year’s level by 49%.

GOLD DIVISION RESULTS

	12М2024	12М2025	Change [2]
Run-of-mine material, million m³	29.9	36.3	22%
Ore mined, million tonnes	7.1	10.8	51%
Doré gold produced, kg	7,374	8,077	10%
Doré gold produced, koz	237	260	10%
Gold sold, recorded in the IFRS consolidated financial statements, kg	7,084	8,441	19%

TIN DIVISION RESULTS

	12М2024	12М2025	Change [3]
Ore mined, thousand tonnes	1,071	1,253	17%
Ore processed (including preliminary treatment at the XRT sorting facility), thousand tonnes	995	1,218	22%
Tin in concentrate produced, tonnes	2,466	3,500	42%
Tungsten in concentrate produced, tonnes	2,050	2,380	16%
Copper in concentrate produced, tonnes	68	127	87%

ABOUT SELIGDAR

Seligdar PJSC is one of Russia’s leading gold producers with over 50 years of experience in the mining sector. The Company’s primary mined metals include gold and tin. Seligdar has gold reserves of 285 tonnes and tin reserves of 412 thousand tonnes. The Holding Group's operations are located across seven Russian regions, including the Republic of Sakha (Yakutia), Republic of Buryatia, Altai, Orenburg, Irkutsk, Khabarovsk and Chukotka regions.

[1] In August 2024, the contract agreement for mining operations at the Lunnoye deposit, and related agreements were terminated. The financial results of Lunnoye JSC were not included in the consolidated financial statements of Seligdar PJSC. However, physical volumes of mining and gold production under the contract were reflected in operational results. For comparability purposes, retrospective data for the twelve months of 2024 are presented net of Lunnoye results and differ from those disclosed in the press release dated 24 January 2025.

[2] Minor discrepancies in percentage changes may occur due to rounding.

[3] Minor discrepancies in percentage changes may occur due to rounding.