Allied Gold prices $175-million offering

An anonymous director reports ALLIED GOLD ANNOUNCES SIZE AND PRICING OF OVERNIGHT MARKETED EQUITY OFFERING Allied Gold Corp. has set the pricing and terms of its previously announced overnight marketed underwritten offering of 6.4 million common shares of the company at a public offering price of $27.35 per share for aggregate gross proceeds of approximately $175-million. Stifel Nicolaus Canada Inc., Canaccord Genuity Corp. and National Bank Financial Inc. are acting as joint bookrunners, on behalf of a syndicate of underwriters made up of CIBC World Markets and Cormark Securities Inc.. The company has granted the underwriters an overallotment option, exercisable, in whole or in part, in the sole discretion of the underwriters, to purchase up to an additional 15 per cent of the number of shares sold in the offering for up to 30 days from and including the closing date of the offering, on the same terms and conditions as the offering, for market stabilization purposes and to cover any overallotments, if any. The closing of the offering is expected to occur on or about Oct. 24, 2025, and will be subject to the completion of formal documentation and the receipt of all necessary regulatory approvals, including approval from the Toronto Stock Exchange and the New York Stock Exchange. The company intends to use the net proceeds of the offering to: (i) finance its optimization and growth initiatives particularly to accelerate development of infrastructure for the next phase of expansion at Sadiola, which includes improvements in processing capacity and acceleration of the implementation of certain components of the recently announced energy program; (ii) modify the plant under development at Kurmuk to increase average processing capacity for higher levels of production; (iii) begin the transition to owner mining at one or more operations; and (iv) general corporate purposes to take advantage of corporate and asset-based opportunities that may arise from time to time. The company considers that pursuing some or all of these initiatives at this time improves efficiency, productivity and profitability. With respect to corporate and asset-based opportunities, these would mostly be cash flow generating in respect of which the company prefers to use available cash rather than shares as much as possible. Any unused proceeds will be allocated to general corporate purposes. The offering will be made by way of a prospectus supplement to the company's short form base shelf prospectus dated Oct. 1, 2024, to be filed in each of the provinces of Canada, and may be offered in the United States on a private placement basis by way of a confidential offering memorandum pursuant to certain exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and on a private placement basis in certain other jurisdictions outside of Canada and the United States pursuant to applicable prospectus exemptions. Such documents contain or will contain important information about the offering. Upon the signing of the underwriting agreement, the prospectus supplement will be filed and available on SEDAR+. Alternatively, the prospectus supplement and the accompanying base shelf prospectus may be obtained free of charge upon request by contacting the chief legal officer and corporate secretary of Allied Gold Corp., at Royal Bank Plaza, North Tower, 200 Bay St., Suite 2200, Toronto, Ont., M5J 2J3, by telephone at 416-363-4435 or by e-mail at [email protected]. About Allied Gold Corp. Allied is a Canadian-based gold producer with a significant growth profile and mineral endowment, operating a portfolio of three producing assets and development projects located in Ivory Coast, Mali and Ethiopia. Led by a team of mining executives with operational and development experience and a proven record of creating value, Allied is progressing through exploration, construction and operational enhancements to become a mid-tier, next-generation gold producer in Africa and ultimately a leading senior global gold producer. We seek Safe Harbor.