Aura Minerals

Aura Announces Q3 2024 Quarterly Financial and Operational Results

ROAD TOWN, British Virgin Islands, November 4, 2024 – Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) announces that it has filed its unaudited consolidated financial statements and management discussion and analysis (together, “Financial and Operational Results”) for the period ended September 30, 2024 (“Q3 2024”). The full version of the Financial and Operational Results can be viewed on the Company’s website at www.auraminerals.com or on SEDAR+ at www.sedarplus.ca. All amounts are in thousands of U.S. dollars unless stated otherwise.

Rodrigo Barbosa, President, and CEO of Aura, commented, “We are pleased to report that we entered the first nine months of 2024 on a robust growth trajectory, achieving our fifth consecutive increase in LTM production and reaching a record-high EBITDA of US$187 million. In Q3 2024, with an average gold price of US$2,507 / Oz, we achieved record-high Adjusted EBITDA for a single quarter, at $78.1 million, over 39% higher than Q2 2024. In addition to higher production and higher gold prices, we also managed to have a 3% reduction in our AISC per GEO, keeping us on track to achieve our production and cash cost Guidance for the year. Moreover, the construction of Borborema is now 54% complete and remains on schedule, with ramp-up start anticipated for Q1 2025, setting the stage for a strong year ahead.”

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Aura Amends Dividend Policy to Quarterly Payments, and
Declares Dividend of US$0.24 Per Share Based on Q3 2024 Results; BDR holders will receive R$ 0.08 per BDR
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ROAD TOWN, British Virgin Islands, November 4, 2024 - Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) (“Aura” or the “Company”) has approved an amendment to its dividend policy (“Dividend Policy”), with the intention of declaring and paying dividends on a quarterly basis. Under the Dividend Policy, the Company will determine quarterly cash dividends in an aggregate amount equal to 20% of its reported Adjusted EBITDA1 for the relevant three months less sustaining capital expenditures and exploration capital expenditures for the same period.

Dividends are expected to be declared four times per year, starting in Q4 2024, based on the reported results and capital expenditures for the applicable three-month period, with a record date that is no less than seven business day after the date of the press release announcing the financial statements and Management's Discussion and Analysis (“MD&A”) of each calendar quarter. Dividends are expected to be declared four times per year, starting in being declared in Q4 2024, according to the Q3 2024 results, based on the reported results and capital expenditures for the applicable three-month period, with a record date that is no less than seven business day after the date of the press release announcing the financial statements and Management's Discussion and Analysis (“MD&A”) of each calendar quarter. As such, any dividend payable under the Dividend Policy will be declared together or soon after the press release announcing the financial statements and MD&A of each calendar quarter1.

In addition to the amended Dividend Policy, the Board has declared and approved the payment of a dividend (the “Dividend”) of US$0.24 per common share (approximately US$17.4 million in total). The Dividend is in respect of and is based on Aura’s financial results for the three months ending September 30, 2024. This payment is above the minimum foreseen in the Company’s Dividend Policy.
The Dividend will be paid in US dollars on December 2, 2024, to shareholders of record as of the close of business on November 15, 2024 (“Record Date”).
Holders of the Company’s Brazilian Depositary Receipts as of Record Date will receive US$0.08 per BDR (since 1 Aura share is equivalent to 3 BDRs) and are expected to receive payment by December 18, 2024, and will receive the Brazilian Reais equivalent of the Dividend, based on a market exchange rate to be disclosed in a future Press Release, in advance of its payment date.
The Dividend is not subject to withholding taxes at the time of payment by the Company.
Rodrigo Barbosa, President & CEO commented, "We are excited to announce another dividend following strong Q3 results, underscoring our commitment to delivering consistent and sustainable returns to our shareholders while actively growing our business. The transition to a quarterly dividend policy highlights our confidence in Aura's long-term growth and operational strength, enabling us to reward shareholders regularly. With a demonstrated track record of paying sector leading dividends upon strong execution, Aura stands out as a Company that prioritizes shareholder value. With this move, we remain dedicated to maximizing returns through regular dividends and strategic share buybacks, while we invest on production and resources growth. We remain dedicated to maximizing returns through regular dividends and strategic share buybacks, while we invest to increase our production and mineral resources and reserves.”

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