Investor Presentaiton

Nova Capitalised Development Costs Variance Actual Budget(1) Area A$M A$M A$M(2) % Process Plant 161 176 (15) (9%) Non-mine Infrastructure 90 99 (8) (8%) Mine Development 64 55 10 18% Mine Infrastructure 46 46 n/a Pre-operating Costs 134 75 59 79% less capitalised revenue (39) (7) (32) 459% Total 456 443 13 3% Nova Capital expenditure reconciliation igo 3% variance from uninflated January 2015 budget estimate is a great result • Demonstrates a good overall discipline in cost management Actual spend is 4% or A$17M lower than feasibility study estimate Actual cost includes additional unbudgeted expenditure Additional underground development Process plant equipment changes to provide debottlenecking opportunities Additional water supply exploration and development Longer period of pre-commercial production expenditure 1) Uninflated January 2015 revised budget (Initial July 2014 Feasibility Study estimate of A$473M revised down to A$443M in January 2015) 2) May not add up due to rounding 3333 13

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