Endeavour Mining plc T.EDV

RE:RE:RE:Another note from Edison

[marben100]

Re the $10m figure, perhaps fairer to quote the complete text?

As we disclosed in our June 2021 London listing prospectus, the re-domiciliation and restructuring  resulting from the implementation of the Scheme (required in order to list on the premium segment of the Official List) triggered additional costs and cash flow effects for the Chief Executive.

To ensure retention of the Chief Executive and bearing in mind the strategic importance to the Company of admission to listing, the Board agreed to compensate the Chief Executive for his costs related to the restructuring to prevent him from being financially disadvantaged by the listing. The amount was $10 million which represents the Chief Executive’s additional costs between 2021 and

2023. The total amount is paid in tranches, with 50% paid on London listing and 30% and 20% on the first and second anniversaries of London listing and is conditional upon the Chief Executive’s continued employment (subject to good leaver provisions described below) at that time. This restructuring cost award is a one-off event which will not recur in the future.