Third Quarter Production at Blanket Mine

St Helier, October 21, 2025 - Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces gold production from the Blanket Mine in Zimbabwe ("Blanket") for the quarter ended September 30, 2025 ("Q3 2025" or the "Quarter"). All production numbers are expressed on a 100 per cent basis and are based on the final assay at the refiners.

Highlights

• ​Quarterly gold production of 19,106 ounces (Q3 2024: 18,992 ounces)
• ​Gold produced in the nine months to the end of September was 58,846 ounces (2024: 56,815 ounces).
• ​Caledonia reiterates its increased gold production guidance for 2025 of between 75,500 and 79,500 ounces[1].

Mark Learmonth, Chief Executive Officer, said:

"We're pleased to report another quarter of solid performance at Blanket, building on the exceptional start to the year.

"It is, however, with deep regret that we reported in September the loss of a Blanket Mine colleague following an accident related to secondary blasting. On behalf of Caledonia, I extend our heartfelt condolences to the family and colleagues of the deceased. The safety and well-being of our workforce remains our highest priority.

"The consistency of our output reflects the strategic investments we've made across the business and we remain on track to meet our increased production guidance."

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[1] Refer to technical report "NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe" with effective date December 31, 2023 prepared by Caledonia Mining Corporation Plc and filed by the Company on SEDAR+ (www.sedarplus.ca) on May 15, 2024

Craig James Harvey, MGSSA, MAIG, Caledonia's Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a "Qualified Person" as defined by each of (i) the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act.