Investor Presentaiton

Pit cooling - Key activities and achievements Pre-Feasibility Study ongoing • • • Cooling the Hot Ground with cold water injection (CWI): • Drilling of 6 long directional wells completed Water treatment plant completed and 7 months of CWI successfully trialled and demonstrating cooling. Enhancing Depressurisation capability: • • Prototyping of longer horizontal steam relief wells successful Three sub-vertical steam relief wells completed and venting steam for pressure release Forward Work: • Complete CWI trials, analysis and PFS reporting through FY20 • Complete studies on additional methods for mitigating hot ground risks Directional drilling and cold water injection pad Slant CWI H2D #3 Slant Wells w/CWI HZD #4 KSP SRW Kapit Triplet Flankers KSP SRM BR 1909 Steam Relieve Wells Strategic CWI SRW1910 CW115-00 Horizontal CWIMme..00 HDMO HZD #1 SRM1903 C1902 SRM1901 HZD #2 M1911 Diagram of directional drilling 06 ARDP Site 25

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