CERBA Russia & Eurasia Mining Conference March 2012Dennis KwongVice President, Business Development

Caution Regarding Forward-Looking InformationThis 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 ofapplicable Canadian securities laws. Such forward looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities todiffer 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 expectationsregarding 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 ofgold 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 2012and 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 theWater 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 Mongolianproperties; 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 asa 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 businessprospects; 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 lookinginformation. 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 couldcause 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 risksassociated 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 practicesin 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 theroyalty 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 continuedscrutiny 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’sability 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 inrenegotiating 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’sproduction and cost estimates; the success of the Company’s future exploration and development activities; competition for mineral acquisition opportunities; the adequacy of the Company’sinsurance; 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; theCompany’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 tocommence 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 forequipment 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; theCompany’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 ofcurrency 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 tomake 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 largestshareholder, the Kyrgyz government; and possible director conflicts of interest. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunitiesin 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 mineralizationuneconomic 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 thedemonstration of their profitable recovery. Economic and technological factors which may change over time always influence the evaluation of reserves or resources. Centerra has not adjustedmineral 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 probablereserves.

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 containedherein 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 unduereliance 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 changesin 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

Two Solid Operating Platforms

OksutSTI JV

ElmaliEMX JV

AkarcaEMX JV

Kara BeldyrCAG JV

ATO

Boroo2.5 M oz

Gatsuurt2 M oz

Kumtor22 M oz

Centerra Property

Centerra JV

Gold Deposit > 2M oz

Known Gold Deposit

AltunhisarSTI JV

LaogouxiHDS JV

DvoinoyeJV

March 2012

● 2011 gold production 642,380 oz● 2012 expected gold production of 635,000 to 685,000 oz

@ cash costs of $465 to $500/oz

Kyrgyz Republic Mongolia

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March 2012

Ownership Profile

● Symbol CG on the TSX

● Market capitalization C$4.5 Billion

● 2011 gold production 642,380 oz.

● Strong Balance Sheet, no debt and $568 million cash

● 2012 expected gold production 635,000 to 685,000 oz.

Share Ownership

Kyrgyzaltyn JSC

33%

Retail shareholders

19%

Institutional shareholders

48%

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Centerra – Reserves and Ounces MinedA

u O

un

ces

( ‘0

00

’s )

Reserves

7.0 million Cumulative

Ounces Mined Since

2004

8.1 millionounces

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 5

Kyrgyz Republic MongoliaRussian Federation

China

Kazakhstan Mongolia

BorooGatsuurt

Ulaanbaatar

Russian Federation

Mongolia

China

Kazakhstan

Kumtor

Kyrgyz Republic

Kyrgyz Republic

Kumtor Reserves and ResourcesDec. 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/ozMarch 2012 6

March 2012

Kumtor Mine

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March 2012

Kumtor

● Kumtor one of the largest businesses in Kyrgyz Republic– Largest tax payer in the country

– Employs over 2,700 people, (95% nationals)

– Pay a 14% gross revenue tax

● Invested over $1.5 Billion since 1992 including– medical clinics, school repairs, water systems, growth and sustaining capital

● Produced 8.4 million ounces of gold since 1997

The Facts:

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March 2012

Kumtor Central Pit

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Kyrgyz Republic MongoliaRussian Federation

China

Kazakhstan Mongolia

BorooGatsuurt

Ulaanbaatar

Russian Federation

Mongolia

China

Kazakhstan

Kumtor

Kyrgyz Republic

Mongolia

Mongolian Reserves and ResourcesDec.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 10

March 2012

Boroo Mine

11

March 2012

Boroo

● Boroo largest hard-rock gold mine in Mongolia– Produced 1.6 million ounces since 2004

● Invested $235M since 2002 including– refurbishing schools, medical facilities, town infrastructure

The Facts:

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March 2012

Providing Social and Economic Support

Kyrgyz Republic

● 95% of employees are Kyrgyz nationals

● Issyk-Kul region set up an agro engineering centre and projects to improve pasture management, vegetable production and processing

● Established a micro crediting agency

● Increase local fish stocks and encourage fishing industries

● Biodiversity conservation to improve the Sary-Chat Ertash National Wildlife Park

Mongolia

● 95% of employees are Mongolian nationals

● Working with Government to construct a maternity hospital in Ulaan Baatar

● Community development programs– Centre for traditional medicine– Small/family business loan program– Agricultural Educational Centre– Community Centre & Hospital

improvement projects

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March 2012

Asia: Benefits

Exploration potential

Less competition

Skilled people available

Business climate improving

Centerra has a competitive advantage

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The largest Western-based gold producer in Central Asia