1H 2013 Earnings Presentation

...driving key events in the mining industry... 100% 90% 80% PDAC: SNL Metals Economics Group Expects 2013 exploration spend to decline after a 3 year rally 70% 60% 50% 40% Jan-13 Feb-13 Barcelona Mining Conference Miners focused on cost reductions & reduced capex Gold Selloff Largest in 33 years China's GDP The International Monetary Fund cut its growth outlook for China from 8% to 7.75% Mining & Energy Project Cancelation Announcement that $147B projects in Australia were delayed or canceled over the past year Rio Tinto Targeted $5B of cost out over the next two years Newcrest Warns on profit and estimates a $6B asset write-down Barrick Newmont Asset write- down of $2B ~ BHP Billiton Announced run- rate cost savings of $3B with ~ more to come BHP Billiton Announced a $4B reduction of capex in FY14 Announced the delay of its Pascua Lama project in Chile Mar-13 Apr-13 May-13 Jun-13 Spot Gold Barrick Asset write- down of $9B Jul-13 BOART LONGYEAR (Indexed to Jan-13) Bloomberg Mining Index (Indexed to Jan-13) 1H 2013 Earnings Presentation LO

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