Investor Presentaiton

2 Abundant and Shallow Resource/Reserve Large-scale, c.460 million tonne, resource base as of 31 December 2017 located in the well-established Kalahari Manganese Field Track record of resource growth and resource to reserve conversion Shallow open-cast mine with a for homogenous ore body allowing simple drill-and-blast and load-and-haul mining See Appendices for further details on JORC Resource and JORC Reserve positions (Million tonnes) (Million tonnes) 500 450 400 350 300 250 200 C. 178 150 100 c. 161 50 0 2009 Resource Base Evolution c. 339 01/05/2015 c. 42 c. 79 1 Jupiter Mines Limited c. 460 c. 418 31/12/2016 31/12/2017 Reserve Base Evolution 100 90 80 c. 25 70 60 50 c. 86 40 30 C. 61 20 10 о 31-Dec-16 31-Dec-17 13

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