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AIM Project Overview MERDEKA COPPER GOLD Initial plant to produce 1mtpa of sulphuric acid but expected to increase and demand could be 5 mtpa between IMIP and other sites Wetar (Maluku Province) IMIP (Morowali, Central Sulawesi Province) AIM Joint Venture (60% Merdeka) Merdeka Ship 700km to Process Feedstock Morowali 880 ktpa 1. Crush/Grind/ Flotation Pyrite Concentrate Calcine Residue 2. Roast and Acid Plant 3. Chloridizing Roast Residue 4. Metal Extraction Products Sold Estimated Revenue US$200m pa Sulphuric Acid (1 mtpa) / Steam (1.2 mtpa) sold under offtake agreement Iron Ore Pellets (450 ktpa)-no offtake agreement Copper (6 ktpa), Gold (13,000 ozpa) & Silver (365 koz pa) Buyers HPAL JV Stainless Steel JV Other Tsingshan JVs at IMIP On Market Sales 3rd Party Buyers IMIP Services Power Water . Land • • Office Comments • Significant value in spent ore at Wetar (Cu, pyrite (FeS2), Au and Ag) • • • Accommodation Access • Transportation • Others Opportunity to optimise long term production profile across Wetar and AIM Project. Only some of the Cu recovered at Wetar and remaining copper and other products recovered with AIM Project MOU signed with Tsingshan to develop a pyrite processing plant at the Morowali Indonesian Industrial Park Feasibility study expected to be completed in Q4 2020 21 21

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