Company secures a US$ 60 million investment loan from BCC for green projects

Solidcore Resources plc (“Solidcore” or the “Company”) and Kazakhstani Bank CenterCredit (“BCC”) have entered into an agreement for a 7-year loan facility of up to US$ 60 million to finance the construction of solar and gas piston power plants at the Company’s operations.

“We are pleased to partner with Bank CenterCredit, which shares our commitment to sustainable development and supports our key green energy initiatives. The loan facility marks Solidcore’s first transaction in the debt financing market following the rebranding of the Company and the refreshed strategy launched earlier this year. We are looking forward to a productive partnership with BCC and other financial institutions as we work to implement the Company’s ambitious strategic projects”, said Evgenia Onuschenko, CFO of Solidcore Resources plc.

Green energy development projects are a key element of Solidcore’s strategy to reduce the carbon footprint of the Company and contribute to Kazakhstan’s decarbonisation goals. The funds received from BCC will be used to finance the construction of a 23 MW solar power plant and a 40 MW gas piston power plant at Varvara, as well as the construction of a 17 MW solar power plant at Kyzyl (the latter will be considered by the Board this year). The power plants are expected to be launched in 2026. Once operational, they will replace purchased electricity generated primarily by coal power plants, and thereby reduce the Company’s emissions by 27% compared to 2023, minimise reliance on external energy sources, and help mitigate the risk of rising electricity tariffs.

About Bank CenterCredit

Bank CenterCredit JSC is one of the largest banks in Kazakhstan, established in 1998. The bank serves more than three million individuals and business clients. BCC operates in accordance with environmental standards, invests in socially responsible projects and follows high standards of corporate governance. The bank received the highest ESG score in the S&P Global CSA among Kazakhstan-based financial institutions in 2024.

About Solidcore

Solidcore Resources is a leading Gold producer registered in AIFC, Kazakhstan, and listed on Astana International Exchange. Solidcore operates two producing gold mines and a major growth project (Ertis POX) in Kazakhstan.

Enquiries

FORWARD-LOOKING STATEMENTS

This release may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “could” or “should” or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company’s control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company’s present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company’s actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.