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INDUSTRIALS | Machinery & Equipment
flsmidth.com

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Investments

1

Portfolio Exits

1

Partners & Customers

10

About FLSmidth

FLSmidth & Co is a global engineering company based in Copenhagen, Denmark that provides global cement and mineral industries with factories, machinery, services and know-how.

FLSmidth Headquarter Location

Vigerslev Allé 77

Copenhagen, 2500,

Denmark

+45 3618 1000

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Latest FLSmidth News

Sabina Gold & Silver Chooses FLSmidth to Supply Full Processing Plant Equipment to Sabina’s Goose Mine

Apr 28, 2022

Sabina Gold & Silver Chooses FLSmidth to Supply Full Processing Plant Equipment to Sabina’s Goose Mine VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (SBB.TSX/SGSVF.OTCQX), (“Sabina” or the “Company”) announced today that FLSmidth (“FLS”) has been chosen to supply the key equipment for Sabina Gold & Silver Corp.’s processing flowsheet, for its Goose gold mine at its 100% owned Back River Gold District in Nunavut, Canada. The equipment package is valued at approximately US$39M and is due to be delivered by mid-2023, for implementation ahead of the mine start-up date of Q1, 2025. FLS will supply the jaw crusher, Raptor® Cone Crushers, ball mill, VXP-Stirred Mill (secondary grinding) and KREBS® cyclones, pumps as well as screens, feeders and Knelson™ gravity concentrators. The order also includes equipment for pre-oxidation and leaching; carbon in pulp (CIP) extraction; absorption, desorption and refining (ADR); and detoxification. In addition, Sabina is progressing contract negotiations for commissioning support, operational readiness, site training, an optimized spare management strategy, as well as a performance guarantee for the process equipment as per the flowsheet. “We are pleased to have these critical components procured with a vendor that has a proven track record for providing equipment and support to remote projects around the world,” said Bruce McLeod, President & CEO. “The ball mill will be delivered early in 2023 to enable installation in the 2023 construction season. The balance of equipment will arrive on the July 2023 sealift for the 2024 construction season. This package is a fixed price with minimal exposure to continued inflation pressures.” About Sabina Gold & Silver Sabina Gold & Silver Corp. is an emerging gold mining company that owns 100% of the district scale, advanced, high grade Back River Gold District in Nunavut, Canada. Sabina recently filed an Updated Feasibility Study (the “UFS”) on its first mine on the district, the Goose Mine, which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV5% of C$1.1B at a gold price of $1,600 USD. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021. The Project has received all major permits and authorizations for construction and operations. The Company has arranged a comprehensive project financing package comprised of: A US$425 million senior secured debt facility, gold prepay and stream package with Orion Mine Finance and Wheaton Precious Metals Corp.; and US$221 million in equity; The Company is also very committed to its Inuit stakeholders, with Inuit employment and opportunities a focus. The Company has signed a 20-year renewable land use agreement with the Kitikmeot Inuit Association and has committed to various sustainability initiatives under the agreement. The Company continues to advance exploration and project optimization, including advancing the planned plant expansion to 4,000 tpd from Year two to initial startup. For further information, please contact: Nicole Hoeller, Vice-President, Communications: 1 888 648-4218 Forward-Looking Information This news release contains “forward-looking information” within the meaning of applicable securities laws (the “forward-looking statements”), including, but not limited to, the use of proceeds from the Offering and the projections and assumptions of the results of the UFS. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the availability of equity financing on reasonable terms, the approval of the private placement to Orion and Wheaton by Sabina’s shareholders, the uncertainty of construction, production, development plans and costs estimates for the Back River Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs; the interpretation of drill, metallurgical testing and other exploration results; the ability of the Company to retain its key management employees and skilled and experienced personnel; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; the effects of general economic conditions, commodity prices, changing foreign exchange rates and actions by government and regulatory authorities; and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources and reserves; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers or directors; the absence of dividends; currency fluctuations; labour disputes; competition; dilution; the volatility of the our common share price and volume; future sales of shares by existing shareholders; and other risks and uncertainties, including those relating to the Back River Project and general risks associated with the mineral exploration and development industry described in our Annual Information Form, financial statements and MD&A for the fiscal period ended December 31, 2021 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. This news release has been authorized by the undersigned on behalf of Sabina Gold & Silver Corp. Bruce McLeod, President & CEO 555 Burrard Street

FLSmidth Investments

1 Investments

FLSmidth has made 1 investments. Their latest investment was in Continental Blue Investments as part of their Unattributed on April 4, 2022.

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FLSmidth Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/8/2022

Unattributed

Continental Blue Investments

$27.9M

Yes

1

Date

4/8/2022

Round

Unattributed

Company

Continental Blue Investments

Amount

$27.9M

New?

Yes

Co-Investors

Sources

1

FLSmidth Portfolio Exits

1 Portfolio Exit

FLSmidth has 1 portfolio exit. Their latest portfolio exit was FLSmidth - Bulk and Material Handling Business on January 09, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/9/2019

Divestiture

1

Date

1/9/2019

Exit

Divestiture

Companies

Valuation

Acquirer

Sources

1

FLSmidth Acquisitions

3 Acquisitions

FLSmidth acquired 3 companies. Their latest acquisition was ThyssenKrupp - TK Mining on July 29, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

7/29/2021

$99M

Acquired Unit

2

10/2/2020

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$99M

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10

2/11/2019

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$99M

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10

Date

7/29/2021

10/2/2020

2/11/2019

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

Total Funding

Note

Acquired Unit

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Sources

2

10

10

FLSmidth Partners & Customers

10 Partners and customers

FLSmidth has 10 strategic partners and customers. FLSmidth recently partnered with AVEVA on April 4, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

4/6/2022

Licensor

United Kingdom

FLSmidth and AVEVA form global partnership to accelerate sustainable mining operations

With the new partnership , FLSmidth will work with AVEVA , using their technology to securely integrate and provide various digitally enabled services to customers .

1

12/20/2021

Client

Russian Federation

MINING NEWS, COPENHAGEN, DENMARK. FLSmidth receives order for IPCC equipment for the Polyus Blagodatnoye gold mine

FLSmidth has been chosen to supply In-Pit Crushing & Conveying equipment for the upstream section of Polyus ' Blagodatnoye gold mine .

1

9/9/2021

Partner

United States

Chart Industries and FLSmidth to collaborate on carbon capture that targets over 90% removal of CO2 emissions from cement production

09 , 2021 -- FLSmidth has signed an agreement with Chart Industries , Inc. to implement advanced carbon capture technology to significantly reduce CO2 emissions from cement production .

2

6/21/2021

Vendor

United Kingdom

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10

6/21/2021

Licensor

United Kingdom

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10

Date

4/6/2022

12/20/2021

9/9/2021

6/21/2021

6/21/2021

Type

Licensor

Client

Partner

Vendor

Licensor

Business Partner

Country

United Kingdom

Russian Federation

United States

United Kingdom

United Kingdom

News Snippet

FLSmidth and AVEVA form global partnership to accelerate sustainable mining operations

With the new partnership , FLSmidth will work with AVEVA , using their technology to securely integrate and provide various digitally enabled services to customers .

MINING NEWS, COPENHAGEN, DENMARK. FLSmidth receives order for IPCC equipment for the Polyus Blagodatnoye gold mine

FLSmidth has been chosen to supply In-Pit Crushing & Conveying equipment for the upstream section of Polyus ' Blagodatnoye gold mine .

Chart Industries and FLSmidth to collaborate on carbon capture that targets over 90% removal of CO2 emissions from cement production

09 , 2021 -- FLSmidth has signed an agreement with Chart Industries , Inc. to implement advanced carbon capture technology to significantly reduce CO2 emissions from cement production .

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Sources

1

1

2

10

10

FLSmidth Team

41 Team Members

FLSmidth has 41 team members, including current Chief Executive Officer, Thomas Schulz.

Name

Work History

Title

Status

Thomas Schulz

Chief Executive Officer

Current

Ramanathan Chandran

Minerals Technologies, and ExxonMobil

President

Current

Larry Patterson

President

Current

Patrick Turner

President

Current

Ole Albertsen

Chief Financial Officer

Current

Name

Thomas Schulz

Ramanathan Chandran

Larry Patterson

Patrick Turner

Ole Albertsen

Work History

Minerals Technologies, and ExxonMobil

Title

Chief Executive Officer

President

President

President

Chief Financial Officer

Status

Current

Current

Current

Current

Current

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