Investor Presentaiton

Heap Leach Project Sources and Application of Funds Sources US$ Million Comments Equity $30m Equity spend from July 2015 Primary Debt Facility $110m BNP, HSBC, SocGen (5 Year Term) VAT Facility $10m BNP, HSBC, SocGen Total $150m Application US$ Million Comments Project Capex $126.9m Assumes US$11.7m contingency VAT Payments $11.0m 10% on 90% of expenditure (VAT refunded) Corporate $2.9m 17 months Interest $3.4m Includes commitment fees Fees $3.7m Legal & other Minimum Cash $2.1m Total PT Merdeka Copper Gold Tbk. $150m • • • . • MERDEKA COPPER GOLD 5 Year Term Primary Facility Robust pricing from leading banks Mandatory hedging 50% year 1 40% year 2 30% year 3 $1,200/oz net after margins executed Major permits in place Environmental & Social Forestry "borrow to use" Explosives Infrastructure IFC Standards / Equator Principle compliant Project CSR Pillars Education Health Public Infrastructure Economic Empowerment 10

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