Investor Presentaiton

Equity Raising Overview (cont'd) Indicative Timetable Use of Funds¹ Announcement of the results of the Offer Thursday, 20 August 2020 Minimum Maximum Record Date Wednesday, 26 August 2020 Uses AUD AUD Anticipated Tranche 1 Placement Settlement Date Friday, 28 August 2020 Exploration $4.5m $10.0m Issue date of the Tranche 1 Placement Shares Friday, 28 August 2020 Phase 1 Early Works & Lead Items $5.0m $9.6m Entitlement Offer opens Monday, 31 August 2020 Creditor Repayments $4.2m $4.2m Entitlement Offer closes Monday, 14 September 2020 Shareholder Loan Repayments $8.1m $8.1m Announcement of outcome under the Thursday, 17 September 2020 Entitlement Offer Indicative Offer & Tranche 2 Placement Costs $1.0m $1.5m Issue of New Shares under the Entitlement Offer Monday, 21 September 2020 Receipt of FIRB in relation to Tranche 2 Placement Securities General Working Capital $5.0m $5.4m Wednesday, 30 September 2020 General meeting of shareholders in relation to issue of Tranche 2 Placement Securities Friday 16 October 2020 Merdeka Debt to Equity Conversion² $2.1m $2.1m Settlement Date of Tranche 2 Placement Securities Monday, 19 October 2020 Total $29.9m $40.9m 1. Page 19 2. The minimum scenario assumes completion of the Placement, Key Shareholder Pre-Commitments under the Entitlement Offer and completion of the Merdeka Conversion, The maximum scenario assumes the minimum scenario, however with the Entitlement Offer fully subscribed Merdeka participation in T2 Placement and Merdeka Conversion subject to shareholder and FIRB approval SIHAYO GOLD

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