Austral Gold Limited — Proxy Solicitation & Information Statement 2020

Apr 28, 2020

AUSTRALGOLD ABN 30 075 660 472 Computershare 8th Floor, 100 University Avenue Toronto, Ontario M5J 2Y1 www.computershare.com

000001

Mr A Sample Designation (if any) Add1 Add2 add3 add4 add5 add6

Security Class 123

Holder Account Number C1234567890 XXX

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Form of Proxy - Annual General Meeting to be held on Wednesday, May 27, 2020 in Sydney Australia

This Form of Proxy is solicited by and on behalf of Management.

Notes to proxy

1. Every holder has the right to appoint some other person or company of their choice, who need not be a holder, to attend and act on their behalf at the meeting or any adjournment or postponement thereof. If you wish to appoint a person or company other than the persons whose names are printed herein, please insert the name of your chosen proxyholder in the space provided (see reverse).
2. If the securities are registered in the name of more than one owner (for example, joint ownership, trustees, executors, etc.), then all those registered should sign this proxy. If you are voting on behalf of a corporation or another individual you must sign this proxy with signing capacity stated, and you may be required to provide documentation evidencing your power to sign this proxy.
3. This proxy should be signed in the exact manner as the name(s) appear(s) on the proxy.
4. If this proxy is not dated, it will be deemed to bear the date on which it is mailed by Management to the holder.
5. The securities represented by this proxy will be voted as directed by the holder, however, if such a direction is not made in respect of any matter, this proxy will be voted as recommended by Management.
6. The securities represented by this proxy will be voted in favour or withheld from voting or voted against each of the matters described herein, as applicable, in accordance with the instructions of the holder, on any ballot that may be called for and, if the holder has specified a choice with respect to any matter to be acted on, the securities will be voted accordingly.
7. This proxy confers discretionary authority in respect of amendments or variations to matters identified in the Notice of Meeting or other matters that may properly come before the meeting or any adjournment or postponement thereof.
8. This proxy should be read in conjunction with the accompanying documentation provided by Management.

Poxies submitted must be received by 8:00 AM (Pacific Time) on Friday, May 22, 2020.

VOTE USING THE TELEPHONE OR INTERNET 24 HOURS A DAY 7 DAYS A WEEK!

To Vote Using the Telephone

• Call the number listed BELOW from a touch tone telephone. 1-866-732-VOTE (8683) Toll Free

To Vote Using the Internet

• Go to the following web site: www.investorvote.com
• Smartphone? Scan the QR code to vote now.

If you vote by telephone or the Internet, DO NOT mail back this proxy.

Voting by mail may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual.

Voting by mail or by Internet are the only methods by which a holder may appoint a person as proxyholder other than the Management nominees named on the reverse of this proxy. Instead of mailing this proxy, you may choose one of the two voting methods outlined above to vote this proxy.

To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.

CONTROL NUMBER 123456789012345

01LMOB CPUQC01.E.INT/000001/i1234

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MR SAM SAMPLE

C1234567890

XXX 123

Appointment of Proxyholder

I/We being holder(s) of Austral Gold Limited hereby appoint: The Chairman of The Meeting

OR

Print the name of the person you are appointing if this person is someone other than the Chairman of The Meeting.

or failing the individual or body corporate named, or if no individual or body corporate is named, the Chairman of the Meeting, as my/our proxy to act generally at the Meeting on my/our behalf and to vote in accordance with the following directions (or if no directions have been given, and to the extent permitted by law, as the proxy sees fit) at the Annual General Meeting of Austral Gold Limited to be held at the offices of Automic Group, Level 5, 126 Philip Street, Sydney NSW 2000 Australia on Wednesday, May 27, 2020 at 8:00 AM (Sydney Time) and at any adjournment or postponement of that Meeting.

Important for Resolution 1: Where I/we have appointed the Chairman of the Meeting as my/our proxy (or the Chairman becomes my/our proxy by default), I/we expressly authorise the Chairman to exercise my/our proxy on, and in connection with, Resolution 1 even though Resolution 1 is connected directly or indirectly with the remuneration of a member of key management personnel for the Austral Gold group. (Note: If you do not want the Chairman of the Meeting to vote as your proxy in favour of Resolution 1, you need to direct your proxy to vote against or to abstain from voting on the Item by marking the appropriate box in step 2 below.)

VOTING RECOMMENDATIONS ARE INDICATED BY INGREDIENT TEXT OVER THE BOXES.

	For	Against	Abstain
Items of Business:
1. Adoption of the Remuneration Report	☐	☐	☐
2. Re-election of Director – Mr Benjamin Jarvis	☐	☐	☐
3. Re-election of Director – Mr Eduardo Elsztain	☐	☐	☐
4. Re-election of Director – Mr Pablo Vergara Del Carril	☐	☐	☐
5. Re-election of Director – Mr Robert Trzebski	☐	☐	☐
6. Re-election of Director – Mr Saul Zang	☐	☐	☐
7. Re-election of Director – Mr Wayne Hubert	☐	☐	☐
8. Approval of 10% Capacity to Issue Equity Securities	☐	☐	☐
9. Approval of Maximum Aggregate Amount of Non-Executive Director Fees	☐	☐	☐
10. Adoption of new constitution	☐	☐	☐

Authorized Signature(s) – This section must be completed for your instructions to be executed.

I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, this Proxy will be voted as recommended by Management.

Signature(s)

Date

MM/DD/YY

YUSQ

296506

XXXX

AR0

9999999999999

01LMPA