CMOC

Canaccord Genuity Acts as Financial Advisor to CMOC on its Acquisition of Equinox’s Brazil Operations

Canaccord Genuity is pleased to announce that, on December 14, 2025, its client, CMOC Group Limited (“CMOC” or the "Company") (SHSE:603993), entered into an agreement pursuant to which CMOC acquired 100% of the Aurizona Mine, the RDM Mine and the Bahia Complex (the “Brazil Operations”) from Equinox Gold Corp. (“Equinox”) (TSX:EQX, NYSEAM:EQX) (the “Transaction”). The Transaction will take effect through the sale of the issued and outstanding shares of certain non-Brazilian Equinox Gold wholly-owned subsidiaries that indirectly own the Brazil Operations.

Under the terms of the Transaction, CMOC will pay upfront cash consideration of US$900 million on closing and up to US$115 million as a production-linked contingent cash payment on the one-year anniversary after closing. The contingent cash payment will be equal to 12.5% of revenue for production between 200-280 koz Au, or US$115 million if production equals or exceeds 280 koz Au. The Transaction highlights Equinox’s commitment to focusing on its portfolio of North American assets and allows Equinox to retire substantial debt from its balance sheet. The Transaction provides CMOC with substantial commodity diversification, geographic diversification and gives the Company a scalable platform for organic growth in Brazil.

Canaccord Genuity acted as financial advisor to CMOC in connection with the Transaction.

CMOC is a global, diversified mining company with a strong global operating base in copper, cobalt, molybdenum and other strategic metals.

Equinox is a Canadian-listed, Americas-focused intermediate gold producer with a strong foundation of high-quality, long-life gold operations in Canada and cross the Americas. Founded and chaired by renowned mining entrepreneur Ross Beaty and guided by a seasoned leadership team with broad expertise.