Building the Large-Scale Gross Mine

Building 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

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