PRESENTATION

1. 5th Annual Mines and Money Conference
Hong Kong, March 2012
John Pearson
Vice President Investor Relations

2. Caution Regarding Forward-Looking Information
This presentation and the documents referred to herein contain statements which are not statements of current or historical facts and are “forward-looking information” within the meaning of
applicable Canadian securities laws. Such forward looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to
differ materially from those expressed or implied by such forward looking information. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”,
“estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things, the Company’s expectations
regarding future growth, results of operations, future production and sales, operating capital expenditures, and performance; expected trends in the gold market, including with respect to costs of
gold production; capital and operational expenses for 2012 and the ability to fund them from cash flow or to access public markets (and its ability to do so successfully); exploration plans for 2012
and the success thereof; mining plans at each of the Company’s operations; the receipt of permitting and regulatory approvals at the Company’s Gatsuurt development property; the impact of the
Water and Forest Law on the Company’s Mongolian activities; the application of the new graduated royalty fee regime under the 2006 Mongolian Minerals Law to the Company’s Mongolian
properties; permitting of the Company’s heap leach activities at the Boroo mine; anticipated delays and approvals and regulatory commissioning of the Company’s Gatsuurt development property as
a result of the Water and Forest Law; the continued success with the management of ice and water movement at Kumtor; the Company’s business and political environment and business
prospects; and the timing and development of new deposits.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political,
business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward looking
information. Material assumptions used to forecast production and costs include those described under the heading “2012 Outlook” in the news release of February 23, 2012. Factors that could
cause actual results or events to differ materially from current expectations include, among other things: the sensitivity of the Company’s business to the volatility of gold prices; the political risks
associated with the Company’s principal operations in the Kyrgyz Republic and Mongolia; the impact of changes in, or more oppressive enforcement of, laws, regulations and government practices
in the jurisdictions in which the Company operates; the effect of the 2006 Mongolian Minerals Law; the effect of the November 2010 amendments to the 2006 Mongolian Minerals Law on the
royalty payments payable in connection with the Company’s Mongolian operations; the effect of the Water and Forest Law on the Company’s operations in Mongolia; the impact of continued
scrutiny from Mongolian regulatory authorities; the impact of changes to, or the increased enforcement of, environmental laws and regulations relating to the Company’s operations; the Company’s
ability to replace its reserves; ground movements at the Kumtor Mine; waste and ice movement at the Kumtor Mine; any labour unrest and disturbances at the Company’s mines; any difficulties in
renegotiating collective labour agreements on terms satisfactory to the Company; litigation; the accuracy of the Company’s reserves and resources estimate; the accuracy of the Company’s
production and cost estimates; the success of the Company’s future exploration and development activities; competition for mineral acquisition opportunities; the adequacy of the Company’s
insurance; environmental, health and safety risks; defects in title in connection with the Company’s properties; the impact of restrictive covenants in the Company’s revolving credit facility; the
Company’s ability to successfully renew any collective agreements and to avoid any labour disturbances; the Company’s ability to obtain all necessary permits and commissions needed to
commence mining activity at the Gatsuurt development property; seismic activity in the vicinity of the Company’s operations in the Kyrgyz Republic and Mongolia; long lead times required for
equipment and supplies given the remote location of the Company’s properties; illegal mining on the Company’s Mongolian properties; the Company’s ability to enforce its legal rights; the
Company’s ability to accurately predict decommissioning and reclamation costs; the Company’s ability to obtain future financing; the impact of current global financial conditions; the impact of
currency fluctuations; the effect of recent market conditions on the Company’s short-term investments; the Company’s ability to attract and retain qualified personnel; the Company’s ability to
make payments including payments of principal and interest on the Company’s debt facilities; risks associated with the conduct of joint ventures; risks associated with the Company’s largest
shareholder, the Kyrgyz government; and possible director conflicts of interest. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunities
in future periods not to be as anticipated, estimated or intended. See “Risk Factors” in the Company’s most recently filed AIF available on SEDAR at www.sedar.com.
Furthermore, market price fluctuations in gold, as well as increased capital or production costs or reduced recovery rates may render ore reserves containing lower grades of mineralization
uneconomic and may ultimately result in a restatement of reserves. The extent to which resources may ultimately be reclassified as proven or probable reserves is dependent upon the
demonstration of their profitable recovery. Economic and technological factors which may change over time always influence the evaluation of reserves or resources. Centerra has not adjusted
mineral resource figures in consideration of these risks and, therefore, Centerra can give no assurances that any mineral resource estimate will ultimately be reclassified as proven and probable
reserves.
There can be no assurances that forward looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results,
performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward looking statements contained
herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue
reliance on forward looking information. Forward looking information is as of February 23, 2012. Centerra assumes no obligation to update or revise forward looking information to reflect changes
in assumptions, changes in circumstances or any other events affecting such forward looking information, except as required by applicable law.
All figures are in United States dollars unless otherwise stated.
March 2012 2

3. Kyrgyz Republic Mongolia
● 2011 gold production 642,380 oz
● 2012 expected gold production of 635,000 to 685,000 oz
@ cash costs of $465 to $500/oz
Russian Federation
China
Kazakhstan Mongolia
Boroo
Gatsuurt
Ulaanbaatar
Russian Federation
Mongolia
China
Kazakhstan
Kumtor
Kyrgyz Republic
Two Solid Growth Platforms
ATO
March 2012 3

4. Share and Ownership Profile
● Symbol CG on the TSX, 236,339,041 common shares issued
● Market capitalization approximately CDN$4 Billion
● Strong financial position, no debt
● Annual dividend CDN$0.10 + 2011 special dividend CDN$0.30
Share Ownership
Kyrgyzaltyn
JSC
33%
Retail
shareholders
19%
Institutional
shareholders
48%
March 2012 4

5. Strong Operating Performance
679
642
635-685
Kumtor
Boroo
2010 2011 2012E
2011 Production:
– Kumtor – 583,156 oz
– Boroo – 59,224 oz
2012 Estimated Production:
– Kumtor 575,000 – 625,000 oz
– Boroo 60,000 oz
Gold Production
(‘000 oz)
March 2012 5

6. March 2012 6
Strong Financial Performance in 2011
Gold production (‘000 oz) 642 679
Total cash cost ($/oz) $502 $440
Average realized gold price ($/oz) $1,569 $1,236
Revenues $1,020M $850M
Net Earnings $371M $322M
Net Earnings per share $1.57 $1.37
Cash from operations $435M $281M
Cash and Short-term investments $568M $413M
Dec. 31
2011
Dec. 31
2010
Please refer to February 23, 2012 news release, MD&A and audited Financial Statements and Notes for
the year-ended December 31, 2011 and 2010 and Caution Regarding Forward-Looking Information

7. Centerra – Reserves and Ounces Mined
AuOunces(‘000’s)
Reserves
7.0 million
Cumulative
Ounces
Mined Since
2004
8.1 million
ounces
Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.March 2012 7

8. 2011 Exploration Results
● Spent $40 million in 2011
● Replaced Kumtor reserves mined in 2011
– No change in pit design or cut-off grade
● Added 400,000 oz. to Kumtor underground inferred resource
● Initial resource statements for Kara Beldyr (Russia) and ATO
(Mongolia)
● Strong drill results for Ortacam (Turkey)
● Added 2.4 million contained oz. to Reserves + M&I resources
and an additional 600,000 contained oz. to Inferred resources
– Excludes silver and base metals at ATO
March 2012 8
Ian Atkinson is the Qualified Person for purposes of NI 43-101
please see Centerra’s AIF and technical reports filed on SEDAR.

9. Expand Our Exploration
$25
$31
$40
$45
2009 2010 2011 2012E
● Over 50% of 2012
exploration budget on our
land holdings
– Kumtor: $15M
– Mongolia: $8M
– JV’s in Russia, Turkey, and
China: +$12M
● Kumtor focus
– SB and Stockwork Zones
– Regional drilling
● Mongolia focus
– ATO and other land holdings
Exploration
Expenditures
$M
March 2012 9

10. Kyrgyz Republic Mongolia
Russian Federation
China
Kazakhstan Mongolia
Boroo
Gatsuurt
Ulaanbaatar
Russian Federation
Mongolia
China
Kazakhstan
Kumtor
Kyrgyz Republic
Two Solid Growth Platforms
Kumtor Reserves and Resources
Dec. 31, 2011
● P & P – open pit 6.3 m oz
● M & I – open pit 4.8 m oz
● Inferred – open pit 0.7 m oz
● Inferred – underground 2.4 m oz
Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.
● 2011 gold production 583,156 oz
● 2012 expected gold production of 575,000 to 625,000 oz
@ cash costs of $430 to $465/oz
March 2012 10

11. K U M T O R
Concession Area
● Area of 26,300 hectares
● Concession expires 2042
● 14% revenue-based tax
● 2 portals in place
● Declines advancing
1st Decline Portal
2nd Decline Portal
March 2012 11

12. December 31st 2009
K U M T O R
Central Pit - Longitudinal Section
Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.March 2012 12
December 31th 2011
KS10
Pit Design
KS11 / KS12
Pit Design
Decline 1
Decline 2
StockworkDecline
Decline 1
December 31st, 2011
Decline 2
December 31st, 2011
Stockwork Decline
December 31st, 2011
No Data
No Data

13. K U M T O R
Underground Development
March 2012 13
560m
475m
620m max
strike length
beneath pit
width up to 50m,
average approx. 20m
width up to 50m,
average approx. 20m
390m max
strike length
beneath pit
Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.
Approx. 1.5 kilometres
Approx. 1 kilometre
Decline1 Position
Dec. 31, 2011
Stockwork Decline
Position
Dec. 31, 2011
Decline2 Position
Dec. 31, 2011
560m
475m
620m max
strike length
beneath pit
width up to 50m,
average approx. 20m
width up to 50m,
average approx. 20m
390m max
strike length
beneath pit
1st
Portal
2nd
Portal
North
SB Underground
High-Grade Zone
1.8M oz Inferred @ 13.6 g/t
Stockwork
Underground Zone
0.6M oz Inferred @ 12.0 g/t
KS12
Final Pit

14. K U M T O R
New Exploration Areas
0 5 10
kilometres
March 2012 14
Kumtor Concession
263 km2
Kumtor
Central Pit
Southwest
Design Pit
Sarytor
Design Pit
Karasay License
125 km2
Koendy License
134 km2
Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.

15. Kyrgyz Republic Mongolia
Russian Federation
China
Kazakhstan Mongolia
Boroo
Gatsuurt
Ulaanbaatar
Russian Federation
Mongolia
China
Kazakhstan
Kumtor
Kyrgyz Republic
Two Solid Growth Platforms
Mongolian Reserves and Resources
Dec.31, 2011
● Proven & Probable Reserves
– Boroo 0.3 m oz
– Gatsuurt 1.5 m oz
● Measured & Indicated Resources
– Boroo 0.24 m oz
– Gatsuurt 0.43 m oz
– ATO 0.82 m oz
● Inferred Resources
– Boroo 0.23 m oz
– Gatsuurt 0.49 m oz
– ATO 0.03 m oz
Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR.
● 2011 gold production 59,224 oz
● 2012 expected gold production of 60,000 oz @ cash costs of $810/oz
ATO
March 2012 15

16. M O N G O L I A
Gatsuurt Deposit
Dulaahhaan
Suhbaatar
Batsumber
Bornuur
Mandal
Dzuunharaa
Sharingol
Dzuunmod
Nalayh
ULAANBAATAR
Bayanchandmani
Darhan
Yoroo
Shaamar
Dzuunburen
Jargalant
Barunnharaa
Orhon
Sant
Altanbulag
Arhust
Bayandelger
Songino
Lun
Bayantsogt
Dumda
Urtaiin
Bayshing
Ugtaaltsaydam
GATSUURT
DEPOSIT
BOROO
MINE
ULAAN BULAG
DEPOSIT
RUSSIA
MONGOLIA
50°N
50°N
49°N
49°N
48°N
48°N
108°E
108°E
107°E
107°E
106°E
106°E
Drawing modified after Strathcona 2004.
Lambert Conformal Conic Projection
Datum: Pulkovo 1942, Russia
0 50
kilometres
MONGOLIA
Detailed
Map Area
March 2012 16

17. M O N G O L I A
Mongolia Update
● Boroo Heap Leach permit pending
– Potential to add about 2,000 oz per month
● Gatsuurt road construction and site prep complete
● Gatsuurt approvals pending
– Ready to begin production of oxide ore on receipt of final approvals
● Expand processing options, add bio-oxidation facility
March 2012 17

18. Province boundary
Mining license
Exploration license
Railw ay
Main road
LEGEND
20 0 20 40
Kilometers
ULAANBULAG
PROJECT
DARKHAN
PROJECT
BOROO
PROJECT
GATSUURT
PROJECT
YALBAG PROJECT
KHUDER
PROJECT
TOLGOIT PROJECT
MUNKH KHAAN
PROJECT
UUL BAYAN
PROJECT
46.5°
106 °
48°49.5°
109 °107.5 °
106 ° 107.5 ° 109 °
110.5 ° 112 ° 113.5 °
113.5 °110.5 ° 112 °
48°49.5°46.5°
0 50
kilometres
100
Darkhan-UulDarkhan-UulDarkhan-UulDarkhan-Uul
SelengeSelengeSelengeSelenge
SukhbaatarSukhbaatarSukhbaatarSukhbaatar
TuvTuvTuvTuv
KhentiiKhentiiKhentiiKhentii
DornodDornodDornodDornod
Darkhan-UulDarkhan-UulDarkhan-UulDarkhan-Uul
SelengeSelengeSelengeSelenge
SukhbaatarSukhbaatarSukhbaatarSukhbaatar
TuvTuvTuvTuv
KhentiiKhentiiKhentiiKhentii
DornodDornodDornodDornod
Microsoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft CorporationMicrosoft Bing © 2010 Microsoft Corporation
Province boundary
Mining license
Exploration license
Railway
Main road
LEGEND
M O N G O L I A
ATO Location and Land Holdings in Mongolia
Yeroogol
Au Trend
Onon Au–Ag
Base metal Trend
480 km
Ulaanbaatar
Choibalsan
Russia
ATO Project
March 2012 18
100 kilometres

19. ATO
Davkhar
Tolgoi
Bayan
Munkh
High
Land
Bayan
Gol
Duut
Nuur
5 kilometres
March 2012 19
M O N G O L I A
ATO District Targets

20. Pipe 4
Pipe 1
Pipe 2
Pipe 3
M O N G O L I A
Altan Tsagaan Ovoo (ATO)
March 2012 20

21. M O N G O L I A
ATO Prospect, Drillhole Location Plan Map
March 2012 Ian Atkinson is the Qualified Person for purposes of NI 43-101 please see Centerra’s AIF and technical reports filed on SEDAR. 21

22. Expand Exploration; Significant Potential in Asia
Peschanka-Chukotskiy
2.7 M oz
Chang Shan Hao 217
8.0 M oz
Oyu Tolgoi
26.4 M oz
Ereen
2.6 M oz
Olon Ovoot
1.9 M oz
Sukoi Log
44.8 M oz
Lugokanskoye
5.3 M oz
Brystrinskoye
8.9 M oz
Chertovo Koryto
5.6 M oz
Kuranakh
6.8 M oz
Golets Visochaishiy
2.6 M oz
Baleyskoe
5.1 M oz
Taseyevskoe
4.6 M oz
Itakinskoye
3.2 M oz
Copler
6 M oz
Vasilkovskoe
11 M oz
Bakyrchik
13 M oz
Muruntau
180 M oz
Amantaytau
3.5 M oz
Kuru-Tegerek
3.1 M oz
Jerooy
3.3 M oz
Arxi
5.6 M oz
Taldybulak L.
1.0 M oz
Varvarinskoye
5 M oz
Taldybulak
6.2 M oz
Charaat
4 M oz
Maoling
7.6 M oz
Golden Hills
1.1 M oz
Olympiada
13 M oz
Titimukhta
2.6 M oz
Bobolyubovo
2.2 M oz
Vorontosovskoe
2.6 M oz
Blagodatnoe
8.4 M oz
Svetlinskoye
1.5 M oz
Yubileyniy-
Bashkortostan
5.1 M oz
Efemcukuru
2 M oz
Daugyztau
6 M oz
Kochbulak
3 M oz
Jilau
3 M oz
Zarmitan
8 M oz
Unkurtask
5 M oz
Kisladag
8 M oz
Ovacik
1 M oz
Jinfeng
8.2 M oz
Laizhou
10.7 M oz
Yingezhuang
5.2 M oz
Zenyuan
5.2 M oz
Anba
2.9 M oz
Dachang
2.9 M oz
Baguamiao
2.8 M oz
Zijinshan
2.8 M oz
Jinling
2.7 M oz
Chongli Zijin
2.3 M oz
Natalka
68.6 M oz
Nezdaninskoye
13.8 M oz
Kupol
4.3 M oz
Kubaka
2.6 M oz
Malomyr
5.3 M oz
Pioneer
5.3 M oz
Bamskoe
(Chulbango)
3.1 M oz
Makmal
1.7 M oz
Mnogovershinnoe
2.3 M oz
Overnovskoe
3.3 M oz
Veduga
4.8 M oz
Centerra brings unique expertise
Oksut
STI JV
Elmali
EMX JV
Akarca
EMX JV
Kara Beldyr
CAG JV
ATO
Boroo
2.5 M oz
Gatsuurt
2 M oz
Kumtor
19 M oz
Centerra Property
Centerra JV
Gold Deposit > 2M oz
Known Gold Deposit
Altunhisar
STI JV
Laogouxi
HDS JV
Dvoinoye
JV
March 2012 22

23. 1
2
3
Our Focus is on Growth
Maximize existing operations
Expand our exploration
Acquisitions or JV’s
Growth
March 2012 23