Nordgold Reports Q2 and H1 2016 Unaudited Financial and Operating Results

London, United Kingdom, 30 August 2016 - Nord Gold SE (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, announces a 29% increase in net profit to US$53.1 million in Q2 2016 compared with Q1 2016.

Highlights

• Net profit up 29% quarter-on-quarter (“QoQ”) to US$53.1 million in Q2 2016. Net profit was US$94.1 million in H1 2016.
• EBITDA (1) in Q2 2016 flat QoQ at US$118.8 million. EBITDA was US$238.1 million in H1 2016.
• Refined gold production in Q2 2016 increased by 2% QoQ to 213.1 thousand gold equivalent ounces (“koz”). H1 2016 gold output was 422.6 koz.
• All-in sustaining costs (1) (“AISC”) was US$878/oz in H1 2016 and US$930/oz in Q2 2016.
• Operating cash flow was US$80.2 million in Q2 2016 and US$160.7 million in H1 2016.
• Q2 2016 total debt down to US$905.3 million and net debt (1) down QoQ to US$562.5 million.
• Nordgold reiterates its FY 2016 AISC guidance of US$800/oz — US$850/oz based on an expected stronger H2 2016 operational performance.
• Nordgold reduces 2016 full year production guidance to 880-930 from 950 — 1,010 koz due to lower than planned production in H1 2016 at our flagship Bissa and Berezitovy mines as well as anticipated suspension of production at Aprelkovo in H2 2016.

(1) For detailed definition, please see “Non-IFRS Financial Measures”.

“We delivered a solid financial performance in the second quarter, with net profit up sharply while we have also reduced our net debt. We have remained focused on increasing efficiency at our operational assets with the launch of our HiTeCC technology at Suzdal and pushing ahead with the development of our pipeline with the imminent launch of our Bouly mine in Q3 this year. While we have trimmed our full year production target after a lower than forecast first half, we still expect to achieve our AISC guidance of US$800/oz — US$850/oz. Nordgold is in a strong position to take advantage of improvements in market conditions with our portfolio of high-quality mines, a strong development pipeline of significant growth opportunities and a proven operational and financial track record. I am confident our company will continue to generate consistent growth for the benefit of its shareholders.” Nikolai ZelenskiChief Executive Officer of Nordgold

Telephone Conference and Q&A Session

Nikolai Zelenski, Chief Executive Officer of Nordgold, Dmitry Guzeev, Chief Financial Officer and Louw Smith, Chief Operating Officer will present the Company’s financial results for Q2 and H1 2016 on a conference call to be held on 30 August 2016 at 3.00 pm London time (5.00 pm Moscow time). The presentation will be followed by a Q&A session. To participate in the telephone conference, please register in advance.

Registration Details

Conference Title: Nordgold’s Presentation of Q2 and H1 2016 Financial Results

To participate in the telephone conference, please dial:

Great Britain

+44 (0) 203 367 9461
0808 238 1773

USA

+1 855 402 7762

Russia

+7 495 705 9472

Webcast

The presentation will be broadcast live over the Internet and will also be available as a recording after the conference.

To participate in the webcast please follow the link:

Materials

The Company’s financial and operating results for the third quarter and nine months ended 30 September 2016 and associated presentation materials will be available on the Company’s official website: www.nordgold.com on 14 November 2016.

For further information, please contact:

Nordgold

Valentina Bogomolova
Head of IR
Tel: +7 495 644 4473

Olga Ulyeva
Head of Media Relations
Tel: +7 495 644 4473

Powerscourt
Peter Ogden
Giles Read
Tessa Berry
Tel: +44 (0) 20 7250 1446