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Investor Presentaiton

+SUMMARY OF PHASE-2 ECONOMIC HIGHLIGHTS ECONOMIC HIGHLIGHTS (in CAD*) MATAWINIE BÉCANCOUR INTEGRATED Feasibility Metrics After-tax Net Present Value (NPV) (8 % discount rate) 571 1,010 1,581 C$ million After-tax IRR 22.2% 20.4% 21.0% Payback (after-tax) 3.7 4.5 4.2 % years Financials Summary Unit Revenues (Sales) Operating Expenses (OPEX) Initial Capital Expenditures (CAPEX) 93 503 596 C$ million per year 58 137 195 C$ million per year 481 923 1,404 C$ million Production Summary Life of Mine ("LOM") 25 Annual average production 103,328 42,616 years tonnes/year TARGETED PROJECT FINANCING » Contemplated debt:equity ratio of ~60:40 Debt: ongoing discussions with governmental and export credit agencies Governmental levers: grants, forgivable loans and/or refundable Canadian investment tax credit (up to 80% of eligible expenses) Equity: strategic investors and anchor customers SOCIETE GENERALE Lead arranger BMOM Strategic equity advisor NMG.com + NYSE: NMG | TSXV: NOU | FSE: NM9A + 37 + PROPRIETARY & CONFIDENTIAL AMG
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