SouthGobi Announces Third Quarter 2026 Unaudited Financial and Operating Results

HONG KONG, HK / ACCESS Newswire / November 13, 2026 / SouthGobi Resources Ltd. (Hong Kong Stock Exchange (HKEX:1878), TSX Venture Exchange (TSX-V:SGQ) (the "Company" or "SouthGobi") today announces its financial and operating results for the three and nine months ended September 30, 2026. All figures are in U.S. dollars ("USD") unless otherwise stated.

The Company's significant events and highlights for the three months ended September 30, 2026 and the subsequent period to November 13, 2026 are as follows: * Operating Results - The Company continues to expand the scale of mining operations in 2026, as well as implementing various coal processing methods, including screening, wet washing and dry coal processing, which have resulted in improved coal quality and enhanced production volume and growth of coal export volume into China. In addition, the Company also continues to expand the categories of coal products in its portfolio, including mixed coal, wet washed coal and dry processed coal, which further increases the Company's coal export volume. The Company recorded sales volume of 3.3 million tonnes for the third quarter of 2026 compared to 3.0 million tonnes for the third quarter of 2025, while the Company recorded an average realised selling price of $72.9 per tonne for the third quarter of 2026 compared to $49.0 per tonne for the third quarter of 2025. The increase in the average realised selling price was primarily attributable to a greater proportion of premium semi-soft coking coal was sold with an increased average realised selling price during the third quarter of 2026. * Financial Results - The Company recorded a $47.9 million profit from operations for the third quarter of 2026, compared to a $1.1 million profit from operations for the third quarter of 2025. The financial results were impacted by the increased sales volume, as well as improved average realised selling price per tonne during this period. * 2026 March Deferral Agreement - On March 23, 2026, the Company and JD Zhixing Fund L.P. ("JDZF") entered into an agreement (the "2026 March Deferral Agreement") pursuant to which JDZF agreed to grant the Company a deferral of (i) the cash and payment-in-kind interest ("PIK Interest", including the Assigned PIK Interest (as defined below)), management fees, and related deferral fees in the aggregate amount of approximately $140.5 million (now $123.5 million following the satisfaction of $17.0 million of the Assigned PIK Interest, as further described below) which will be due and payable to JDZF on or before August 31, 2026 pursuant to the deferral agreement dated March 20, 2025; (ii) semi-annual cash interest payment of approximately $7.9 million payable to JDZF on May 19, 2026 under the Convertible Debenture; (iii) semi-annual cash interest payments of approximately $8.1 million payable to JDZF on November 19, 2026 and the $4.0 million in PIK Interest payable to JDZF on November 19, 2026 under the Convertible Debenture; and (iv) management fees in the aggregate amount of approximately $7.6 million payable to JDZF on May 16, 2026, August 15, 2026, November 15, 2026 and February 15, 2027, respectively, under the Amended and Restated Cooperation Agreement (collectively, the "2026 March Deferred Amounts"). The effectiveness of the 2026 March Deferral Agreement and the respective covenants, agreements and obligations of each party under the 2026 March Deferral Agreement are subject to the Company obtaining the requisite approval of the 2026 March Deferral Agreement from shareholders in accordance with the requirements of applicable Canadian securities laws and Rule 14.33 and Rule 14A.36 of the rules governing the listing of securities on the HKEX (the "Listing Rules"). The Company will be seeking approval of the 2026 March Deferral Agreement from disinterested shareholders at the Company's upcoming special meeting of shareholders, which will be held on December 17, 2026 (Canada time), being December 18, 2026 (Hong Kong time).