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Investor Presentaiton

Lihir - Pursuing improvement in recovery Initiative 1 Flash Flotation & Cyclone Efficiency Additional Flotation Capacity Grind Size Reduction Description Recover high grade fast floating material to reduce fines losses through flash flotation. Debottleneck and upgrade existing grinding classification. Additional roughing capacity to improve residence time Potential Recovery Uplift Capital 4 2 & 3 Target Timing 5 1.5% to 2.5% $$ FY21 ~0.5% SA FY24 Tertiary grinding to reduce grind flotation/improve flotation response size to 2% to 3% $$$ FY24 1 Initiatives are currently in Feasibility Study Phase 2 Estimated recovery uplift will be dependant on plant ore feed characteristics and throughput 3 Potential recovery uplift values are not additive when initiatives are combined. The Study will undertake full metallurgical modelling to understand interactions of combined initiatives and recommend a roadmap for recovery uplift. 4 Capital estimates range from approximately $10m to $100m 5 Estimated timing for implementation FGO Flash Flotation & Cyclone Efficiency HGO1 Flash Flotation & Cyclone Efficiency 21 21
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