MDC INDUSTRY HOLDING COMPANY LLC FILES EARLY WARNING REPORT

ABU DHABI, UAE, Sept. 27, 2024 /CNW/ - MDC Industry Holding Company LLC ("MDCI"), a wholly-owned subsidiary of Mubadala Investment Company PJSC, announces today the filing of an early warning report (the "Early Warning Report") providing an update to its holding of securities of Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold").

MDCI previously filed an early warning report dated April 1, 2024 (the "Previous Report") with respect to an amendment to the terms of the US$130,000,000 in convertible notes of Equinox Gold issued on March 10, 2020 and due September 10, 2025 (the "2020 Notes"). Since the filing of the Previous Report, an increase in the aggregate number of issued and outstanding common shares of Equinox Gold (the "Common Shares") has resulted in a net percentage decrease of MDCI's beneficial ownership of Common Shares.

MDCI holds US$130,000,000 in convertible notes of Equinox Gold issued on April 11, 2019 and due October 12, 2024 (the "2019 Notes") and US$130,000,000 in 2020 Notes. The 2019 Notes and the 2020 Notes together entitle MDCI to acquire 44,761,905 Common Shares, representing approximately 9.46% of the Common Shares issued and outstanding on a partially-diluted basis.

MDCI holds the 2019 Notes and the 2020 Notes (collectively, the "Notes") for investment purposes. It may, in accordance with applicable securities laws, increase or decrease its investment by future acquisitions or dispositions of Notes, Common Shares or other equity, debt or other securities of Equinox Gold in the open market, through private agreement or treasury issuances or otherwise, including conversion of some or all of the Notes into Common Shares in accordance with their terms, depending on market conditions, the business and prospects of Equinox Gold and other relevant factors.

The head office of Equinox Gold is located at Suite 1501, 700 West Pender St. Vancouver, British Columbia, Canada, V6C 1G8.

This news release is issued in accordance with the early warning requirements under applicable Canadian securities laws. The Early Warning Report will be filed by MDCI with applicable securities regulators and will be available for viewing under Equinox Gold's SEDAR+ profile at www.sedarplus.com. A copy of the Early Warning Report may be obtained by contacting Andre Namphy at the contact information provided below.

SOURCE MDC Industry Holding Company LLC