Investor Presentaiton

SITE INFRASTRUCTURE Project's initial water treatment plant and tailings storage facility are already established Existing water and tailings infrastructure SOUTH32 Water Additional capital required to establish water wells and a second water treatment plant The first water treatment plant is installed and treatment upgrades are expected to be commissioned in Q3 FY22 Construction to support critical path orebody dewatering is planned to commence in H2 FY22 • Second water treatment plant expected to be commissioned in Q4 FY23 Tailings storage • We have completed the remediation of historic tailings, establishing the first of two state-of-the-art dry stack tailings storage facilities (TSF) • Approximately half of Taylor's planned tailings are to be sent underground as paste fill, reducing its surface environmental footprint First TSF on patented land, with several State-based permits already received for dewatering • Subsequent expansion of tailings storage capacity to require Federal permitting • Power Site power expected to be met through a grid-connected high voltage transmission line Discussions initiated to secure 100% renewable energy from local providers Services and labour Excellent access to local service providers and skilled labour SLIDE 13

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