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Investor Presentaiton

Carmichael Mine: A conventional, commercially robust and competitive coal mine 1. Conventional mine development and operational approach 2. Product strategy well positioned to take advantage of market requirements 3. Commercially robust with competitive advantage adani • . Large resource and reserves base (Pit DE >30 years) Deposit characteristics well understood Major approvals already in place for current and future developments • Proven mining method enables product strategy and reduces operational risk • • . Conventional construction and execution strategies to efficiently manage cost, schedule and risk Comprehensive approach to product strategy development Carmichael 5,000kcal product aligned to resource quality and operating strategy • Target markets' demand increasing and forecast to continue . • • . Consistent low strip ratio Sustainable low operating costs Competitive capital costs Strategically positioned to rapidly expand 52
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