#1Company presentation Nordgold: A High Growth International Gold Producer 211 August 2018 nordgold more than gold#2Diversified Asset Base Across Four Continents Pistol Bay Montagne d'Or Bissa-Bouly 320 koz Operating Mines Developing Assets Exploration Assets Exploration Areas Actual production in 2017 Lefa 209 koz Taparko 108 koz Buryatzoloto 76 koz Suzdal 92 koz Neryungri 67 koz Gross 200E+ koz Uryakh Berezitovy 94 koz 2017 Revenue by Geography 25% 44% 9% 22% Burkina Faso Russia Kazakhstan Guinea 2 nordgold more than gold#3Solid Performance and Strong 2018 Outlook Company Highlights: - In the past five years Nordgold successfully built two large scale and highly efficient mines the Bissa and Bouly mines in Burkina Faso - investing approximately US$390m Gross project is the next on the pipeline. The mine to be launched in Q3 2018 Public debate for the Montagne d'Or project was held in French Guiana. Nordgold will consider adjustments to the Environmental and Social Impact Assessment reports and then subsequently apply for construction and mining authorisations Target Positive Free Cash Flow Generation at All Mines 1200 200 Organic production growth based on existing projects pipeline, which allows disciplined M&A approach Gold Production (koz) 985 950 968 900 1000 869 800 600 400 2014 2015 2016 2017 2018 F 2018 Outlook: Gold production is expected to be in the range of 900 - 950 koz The growth will largely be driven by the contribution of commencing of underground operations at the Berezitovy which create access to the high grade ore, and the launch of the Gross mine AISC guidance of US$975/oz - US$1,025/oz Capex is anticipated to be approximately US$500 million 3 nordgold more than gold#4We are committed to work in line: . . • • United Nation's Universal Declaration on Human Rights UN Guiding Principles on Business and Human Rights (UNGPs) including its Protect, Respect and Remedy Framework . UN Global Compact International Labour Organization (ILO) Core Standards UN Sustainable Development Goals SUSTAINABLE DEVELOPMENT GOALS GOOD HEALTH AND WELL-BEING 4 QUALITY EDUCATION 5 GENDER EQUALITY 6 CLEAN WATER AND SANITATION 8 DECENT WORK AND INDUSTRY INNOVATION ECONOMIC GROWTH ANDINFRASTRUCTURE 11 SUSTAINABLE CITIES AND COMMUNITIES 1 NO POVERTY 3 PEACE, JUSTICE 16 AND STRONG INSTITUTIONS PARTNERSHIPS 17 FOR THE GOALS 4 nordgold more than gold#5Education Healthcare Biodiversity nordgold more than gold nordgold 10 a golden decade new 58 schools 12 schools built renovated 21 schools new have received ABC equipment 2+2=4 HAPPILY TO SCHOOL FIRST DAY OF SCHOOL 0101 0101 01010101 01010101 01010101 01010101 01 01 01 01 01 01 01 01 0101 0101 01010101 010001 01010101 0101 0101 01010101 7279 children have been given the chance to go to school, thanks to Nordgold Russia Burkina Faso Guinea#6Education ◆ Healthcare Healthcare ♦ Biodiversity Improving Access to Healthcare in remote communities of West Africa and Russia Chique Nordgold SMD Combatting malaria Medicines for pregnant women and infants, mosquito control in camps Ebola prevention Awareness campaigns, hand- washing stations, support to families, supporting national efforts in Guinea 2013-2015 nordgold more than gold#7Education Healthcare Biodiversity Research and Conservation of Snow Leopard In partnership with Snow Leopard Foundation Only 200 snow leopards (included in the IUCN Red List of Threatened Species) now left in Russia 2018-03-21 12:23:36 PM M 1/5 Automatic wildlife cameras (installed as part of the project) snapped photos of snow leopards on a nightly walk Research and Conservation of Oriental Stork in partnership with WWF Russia RECONYX PC800 PROFESSIONAL nordgold more than gold 20-13°C#8International-style resettlements Resettlement Action Plans based on IFC Performance Standard 5 and other international standards e.g. Bouly Resettlement • 990+ new houses, • ⚫ 7 schools, 8 mosques, 3 churches, 4 community centres, 8 sports fields, • a vaccination centre AV AV 8 ordgold more than gold#9Proven Track Record of Project Development In the past six years Nordgold successfully explored, developed and built two separate large scale and highly efficient mines - the Bissa and Bouly mines in Burkina Faso investing approximately US$390 million. Bouly deposit has been discovered by Nordgold geologists in 2010 - - Construction of a next growth project - the Gross mine in Russia started in June 2016 with first gold expected in Q3 2018. Gross deposit has been discovered by Nordgold geologists in 2010 ◆ Montagne d'Or in French Guiana has successfully passed scoping study and feasibility study stages under Nordgold. The project continues to advance towards construction stage ◆ Nordgold advanced the Uryakh project to the pre-feasibility study stage, to be completed in Q4 2018 Greenfields projects - exploration in the regions with existing mines in Russia, Burkina Faso and Guinea resulted in discovery of a number of satellite deposits, which extend the life of existing mines 9 nordgold more than gold#10Production in 1 years Robust Pipeline to Underpin Future Growth Construction Phase FS completed In construction Gross Russia 9.7 Moz Resources 4.4 Moz Reserves Satellite Standalone Production in 2-4 years Development Phase Established Resources FS completed or underway Ronguen; Zinigma; Yeou Burkina Faso Montagne d'Or French Guiana Noungou Yimiougou Burkina Faso Production in 3-5 years Advanced Exploration Early Exploration Significant drilling performed Established resources Scoping/PEA completed or underway Potential resource identified Target delineation Pistol Bay Canada Goengo Burkina Faso Uryakh Russia Kangarse Burkina Faso Khaikta Russia Production in 6-8 years Zhanok Russia Tokkinsky Russia Baola II Burkina Faso Banora Corridor Guinea Nordgold Pipeline is Robust and Balanced with Early Stage and Advanced Projects Lefa Corridor Guinea 10 nordgold more than gold#11Producing at the Bouly Mine Bouly - Brief Overview and Summary Location Project parameters Location Infrastructure Mine type Start-up date CAPEX 2017 production LOM average AISC Burkina-Faso, 5 km east from Bissa mine Bissa infrastructure is available to support Bouly Open pit, Heap leach September 2016 US$140 million 124 koz, LoM 10 years US$744/oz Leach pad Project Highlights Located within 5 km from Nordgold's operating Bissa mine with key infrastructure already in place Large ore body: 4.8 Moz at 0.56 g/t in M,I&I Mineral Resources and 1.7 Moz at 0.52 g/t in P+P Ore Reserves Construction was completed on schedule in 13 months and under budget Bouly mine reached full capacity just in two months after launch producing 124 koz of gold in 2017, which is almost 5 times more than in 2016 (28 koz) Feasibility Study with strong project economics: 40% IRR at a gold price of US$1,250/oz Possibility of Life of Mine extension through processing of fresh rock ore resources and exploration at flanks 11 nordgold more than gold#12Building the Large-Scale Gross Mine Gross - Brief Overview and Summary Location Project parameters Location Infrastructure Mine type Stage Start-up year Average production Construction cost Russia, Yakutia 5 km from Neryungri operating mine, accessible by all-season road Open pit, Heap leach Fully permitted, construction started in June 2016 2018 200+ koz US$250 million LoM average AISC US$760/oz Project Highlights Gross is the largest project in Nordgold portfolio – large resource base for a mine with 200+ Koz production and about 17 years life of mine PAY World class ore body: 9.7 Moz at 0.67 g/t in MI&I Mineral Resources.com and 4.4 Moz at 0.72 g/t in Ore Reserves Straightforward low cost heap leach metallurgy with high recovery rate at about 82.5% Project has excellent economics with the costs in the 1st quartile of the cost curve and IRR of almost 40% at $1250 gold price The successful pilot production confirmed heap leaching recovery parameters and reduced execution risk Gross project is on track to start operation in H2 2018 800DY 600 my Gross project general view Gross orebody model and open pit, long section ☐ <0.4 0.4-0.8 ☐ 0.8-1.2 Au 25 1.2-1.6 g/t 1.6-2.0 >2.0 12 nordgold more than gold#13Gross - design main solutions and construction status Project main technical solutions Project design throughput is 12 Mtpa however with equipment installed up to 15 Mtpa is achievable Large single open pit mining, shovels and 140t trucks Two stage gyratory and cone crushing to -40 mm, 2000 tph Dynamic leach pad, conveyors, mobile stacker and reclaimer system Cyanide solution heating for high recovery in winter season Coal fired 16 MWt power plant with capacity balanced to provide sufficient electric power and heat for cyanide solutions Current status of construction Mine's processing plant building is nearing completion The commissioning of crushing circuit is underway Heap Pad lining is done Power plant to be ready in September 2018 Power plant Primary Crusher 13 nordgold more than gold#14Progressing the Montagne d'Or Project Montagne d'Or Project Overview Location Project parameters Location Infrastructure Mine Type Initial Capex Possible start-up year Average production Development Stage Project Highlights French Guiana, 80 km from port of St Laurent Airstrip, access road, camp Open pit US$361 million 2022-2023 200+ koz; LoM 12 years Permitting Nordgold owns 55.01% and is a project operator; Columbus Gold owns remaining shares Nordgold's attributable M+M+1 Mineral Resources of 2.6 Moz at 1.4 g/t and P+P Ore Reserves of 1.5 Moz at 1.6 g/t; Straightforward metallurgy: gravity + cyanidation. Excellent recovery averaged at around 94% As per FS, after-tax NPV of US$370 million at 5% and IRR is 18.7% at a gold price of US$1,250 per ounce; all-in sustaining costs are US$779/oz Preliminary ESIA was completed in Q1 2015, completion of full ESIA is expected in Q4 2018 3D Mine Model Deposit Cross Section T nordgold more than gold 14#15Developing Uryakh Uryakh Project Overview Project parameters Location Location Infrastructure Mine type Development Stage Resources Irkutsk Region, Russia, 100 km from Baikal Amur Mainline (BAM) railroad Accessible by river and summer road; all- season road from railhead is proposed Open pit and underground Advanced exploration - PFS study imminent 1.768 Moz at 3.78 g/t minable U/G and in- pitM+I+I Mineral Resources (JORC compliant) Ore body and topography (pit shells in yellow) Overview of the project area 250 500 750 Project Highlights Uryakh project is wholly owned by Nordgold U/G, open pit pre-feasibility study to be completed in Q4 2018 Three of six known ore zones are in the current model. Further drilling will increase resource and life of mine by incorporating other zones Preliminary metallurgical tests showed recovery from >90% using conventional CIL and gravity Uryakh is located in the region hosting other Nordgold Russian assets 500m 15 nordgold more than gold#16Expanding the Pistol Bay Project Pistol Bay Project Overview Location Location Infrastructure Arctic Canada, Nunavut Territory, on the coast of Hudson Bay, 10km from Whale Cove town Accessible by air or by sea with about 5-month navigation period. Sea port, airstrip and access road to site Project location map Kilometers Project parameters Mine type Development Stage Resources Open pit, high grade Advanced exploration 742 koz at 2.94 g/t M+1+1 Mineral Resources (JORC compliant) Project Highlights Pistol Bay project is wholly owned by Nordgold Best intersections include 156 m at 8.2 g/t and 1 63 m at 5.6 g/t Preliminary metallurgical tests showed recovery from 93.1% to 99.6% and indicated gold is recoverable through standard gravity and CIL methods Ongoing exploration during summer months RANKIN-ENNADAI BELT Since 2010-0.63 M oz. Au produced ABITIBI BELT Since 1909 >150 M oz. Au produced Meadowban PISTOL BAY PROJECT Pistol Bay, Vickers ore body and pit Meadowdard Baker Lake Buteratet Hanbin Inter PISTOL BAY PROJECT 100 Kilometers 200 Au ppm 250 m 0.5 3 10 16 nordgold more than gold#17Despite De-listing Nordgold Continues Delivering on its Proven Strategy How we maintain position as a truly international, consistent, pure play gold producer Commitment to best-in-class corporate governance on an ongoing basis Retention of full "public" management team and Board Continued analysis of strategic opportunities to enhance portfolio Commitment to continuing to deliver shareholder value via Free Cash Flow generation and attractive dividend level Intention to re-list - enhanced operating portfolio and broader shareholder base 17 nordgold more than gold#18For further information please visit www.nordgold.com 18 nordgold more than gold