Q3 financial statements & MD&A

Highlights:

At September 30, 2026 the Company reported working capital of USD 87.7 million (June 30, 2026 – USD 93.8 million) which included cash of USD 90.1 million (June 30, 2026 – USD 96.0 million);

On September 22, 2026, the Company announced the economic results of Cabaçal’s Definitive Feasibility Study (“DFS”):

Base Case Total LOM Revenue USD 5.4 billion and LOM After-Tax Free Cash flow of USD 2.9 billion;

Life of Mine All-In-Sustaining-Costs (“AISC”) of USD 1,056/oz AuEq;

First production years 1-5:

Average annual production of 183,526 oz AuEq;

AISC of USD 715/oz AuEq;

Average annual after-tax free cashflow of USD 413.8 million;

Initial Capital Expenditure of USD 322M includes 10% contingency, tax credits and pre-investment for expansion to 4.5mtpa from year 4 onwards;

Exceptional quality of Cabaçal's copper concentrates confirmed in smelter test with high-grade, high-quality blister copper produced.

Post quarter end, the Company appointed AFRY as the EPCM contractor for Cabaçal, after a thorough assessment process, including extensive technical due diligence.

Post quarter end, the Company announced that it had committed to contracts totalling USD 30.9 million for pre-construction investments on multiple fronts including the EPCM contract, power transformers, off-site civil infrastructure (bridges and road upgrades), a SAG mill, Jameson Cells, and an IsaMill.

At Santa Helena, the Company announced the discovery of multiple stacked layers of Au-Cu-Ag & Zn-Pb VMS mineralisation below Santa Helena, further extending the limits of mineralisation.

On September 29 the Company announced that it would be included in the FTSE 250 Index as of October 1, 2026;

Inclusion in the VanEck Junior Gold Miners ("GDXJ") Exchange Traded Fund (“ETF”) effective at the close of markets on September 18, 2026.

Post quarter end, the Company announced it has received over twenty indicative proposals with multiple proposals over USD 300 million in debt financing. Several parties have provided fully financed indicative proposals of USD 400 million, covering project debt, cost overrun funding, and any required equity contribution and off-take and marketing services.

LONDON, United Kingdom, 13 November 2026 / Newsfile / Meridian Mining plc (LSE: MNO) (TSX: MNO) (FSE: N2E0) (Tradegate: N2E0) (OTCQX: MRRDF) (“Meridian” or the “Company”) is pleased to announce its unaudited condensed consolidated interim financial statements and management’s discussion and analysis (“MD&A”) for the three and nine-month periods ended September 30, 2026 (all financial amounts are expressed in U.S. dollars unless otherwise indicated).

• Gilbert Clark, CEO, comments: “I am pleased to report on one of the most active and important quarters in Meridian’s history. I say this is largely due to the release of the Definitive Feasibility Study during the period, but also because we continue to get ever closer to a final investment decision on the first new producing copper-gold mine on the wider Cabaçal district.

Following quarter end, we announced an update on progress towards that key investment decision, as well as on financing and updates on the ground at the project. We continue to assess the proposals received to ensure the correct funding partner is chosen for this exciting mine, just like our choice of AFRY as the EPCM contractor, where the project construction management strength was a key factor in its selection.

Q3 2026 was a transformational quarter for Meridian as the Company announced the results of its Definitive Feasibility Study ("DFS") for the Cabaçal Gold-Copper Project (“Cabaçal”) and advanced preparations for its transition from project developer to future producer. The DFS confirmed Cabaçal as one of the most robust undeveloped copper-gold projects globally, generating an after-tax NPV5 of USD 2.1 billion and an IRR of 108%, while requiring initial capital expenditure of USD 322 million and delivering payback within the first year of operations. The Company also announced that it had secured the Installation Licence for the structures along the 138 kV power line route.

The Company ended the quarter with cash of USD 90.1 million and working capital of USD 87.7 million and remains well positioned to advance engineering, financing and pre-construction activities whilst continuing to unlock value across its broader exploration portfolio in Mato Grosso, Brazil.

Post quarter end, the Company completed an initial project finance outreach programme and received over twenty indicative proposals. Several parties provided fully financed indicative proposals of USD 400 million, covering project debt, cost overrun funding, any required equity contribution, and offtake and marketing services. The Company is assessing the proposals to generate a short list of preferred bidders for detailed negotiations.

These developments reinforce management's confidence in Cabaçal's technical, economic and financing readiness. Alongside these advances, the Company continues to pursue its broader growth strategy through exploration activities across the Cabaçal VMS Belt, including ongoing work at Santa Helena and regional targets designed to support the long-term expansion of the Cabaçal Hub.”

The Company's unaudited condensed consolidated interim financial statements and management's discussion and analysis for the three and nine months ended 30 September 2026 have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. They are also available on SEDAR+ and on the Company's website at www.meridianmining.co

Qualified Person

• Erich Marques, B.Sc., FAIG, Chief Geologist of Meridian and a non-independent Qualified Person as defined by National Instrument 43-101, has approved the technical disclosure contained in this news release.

On behalf of the Board of Directors of Meridian Mining plc

Gilbert Clark - CEO and Director

Meridian Mining plc

8th Floor, 4 More London Riverside

London SE1 2AU

United Kingdom

Ph: +44 (0) 203 930 3145 (GMT)