Mining Through Uncertainty

Total Estimated Major Taxes Paid by Nevada Mining $223.6 $203.7 $388.1 $314.0 $431.4 $349.5 $312.2 $292.3 $278.9 $245.8 $235.5 $255.6 $216.7 $163.0 $171.0 $136.6 $155.1 $125.9 $91.8 $97.6 $103.2 $101.6 '08 '09 '10 '11 '12 '13 '14 ■Net Proceeds ■Sales/Use Tax Property Tax NEVADA Mining Association '15 '16 '17 '18 ■Modified Business Tax Source: Nevada Department of Taxation, NvMA Member Survey, Natural Resource Industry Institute (2008 - 2010), Industry Surveys Note: Historical figures may be adjusted to reflect the latest available information. MINING THROUGH UNCERTAINTY 49 APPLIED ANALYSIS

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