ORA BANDA MINING LTD — AGM Information 2021

Nov 25, 2021

==> picture [215 x 73] intentionally omitted <==

ANNUAL GENERAL MEETING 26[th] November, 2021

IMPORTANT NOTICE

==> picture [183 x 73] intentionally omitted <==

No reliance:

This presentation is a document that has been prepared by Ora Banda Mining Limited (“Company”, “OBM” or “Ora Banda”) for the purpose of providing a company and technical overview to interested investors. None of the Company, nor any of its related bodies corporate, their respective directors, partners, employees or advisers or any other person ("Relevant Parties") makes any representations or warranty to, or takes responsibility for, the accuracy, reliability or completeness of the information contained in this document, to the recipient of this document (“Recipient”), and nothing contained in it is, or may be relied upon as, a promise or representation, whether as to the past or future. Recipients of the document must make their own independent investigations, consideration and evaluation. By accepting this document, the Recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in the Company, it will make and rely solely upon its own investigations and inquiries, and not upon this document.

Limited disclosure:

The information in this presentation does not purport to be complete, nor does it contain all the information that would be required in a disclosure statement or prospectus prepared in accordance with the Corporations Act 2001 (Cth). It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

Seek your own advice:

This presentation is not a recommendation to acquire Company shares and has been prepared without taking into account the individual objectives, financial situation or needs of interested individuals. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate financial, legal, taxation and other appropriate advice. Except to the extent prohibited by law, the Relevant Parties disclaim all liability that may otherwise arise due to any of this information being inaccurate or incomplete. By obtaining this document, the Recipient releases the Relevant Parties from liability to the Recipient for any loss or damage that it may suffer or incur arising directly or indirectly out of or in connection with any use of or reliance on any of this information, whether such liability arises in contract, tort (including negligence) or otherwise.

No offer to acquire Company shares:

This presentation is not, and should not be considered, an invitation to acquire Company shares or any other financial products, and neither this document nor any of its contents will form the basis of any contract or commitment. In particular, this document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any ‘US person’ as defined in Regulation S under the U.S. Securities Act of 1993 (“Securities Act”). The Company’s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration.

Forward-looking statements:

This presentation contains forward-looking statements which may be identified by words such as "believes", "estimates", "expects', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this presentation, are expected to take place.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements.

The Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this presentation, except where required by law.

The Company cannot and does not give assurances that the results, performance or achievements expressed or implied in the forward-looking statements contained in this presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

Competent Person Statements

The information in this announcement that relates to exploration results, and the Riverina, Riverina South, British Lion, Waihi, Golden Eagle, Callion, Sand King and Missouri Mineral Resources is based on information compiled under the supervision of Mr Ross Whittle-Herbert, an employee of Ora Banda Mining Limited, who is Member of the Australian Institute of Geoscientists. Mr Whittle-Herbert has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Whittle-Herbert consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Sand King, Missouri, Riverina, Riverina South, British Lion, Waihi, Golden Eagle and Callion Mineral Resources are reported in accordance with the JORC 2012code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements dated 15 December 2016 (Missouri) and 3 January 2017 (Sand King), 2 December 2019 (Riverina), 4 February 2020 (Waihi), 8 April 2020 (Golden Eagle), 15 May 2020 (Callion) and restated in market announcement “Davyhurst Gold Project - Ore Reserve Update” dated 26 May 2020.

Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, British Lion, Waihi, Golden Eagle and Callion were first reported in accordance with the JORC 2004code in Swan Gold Mining Limited Prospectus released to the market on 13February 2013. Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, British Lion, Waihi, Golden Eagle and Callion have not been updated to comply with JORC Code 2012 on the basis that the information has not materially changed since it was first reported.

The information in this report that relates to Ore Reserves is based on information compiled by Mr Geoff Davidson, who is an independent mining engineering consultant, and has sufficient relevant experience to advise Ora Banda Mining Limited on matters relating to mine design, mine scheduling, mining methodology and mining costs. Mr Davidson is a Fellow member of the of the Australian Institute of Mining and Metallurgy. Mr Davidson is satisfied that the information provided in this statement has been determinedto a feasibility level of accuracy or better , based on the data provided by Ora Banda Mining Limited. Mr Davidson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

2

CORPORATE OVERVIEW

Ora Banda Mining (ASX:OBM)

Share Price_(22nd November 2021)_	A$/share	0.076
Shares on issue	M	974.2
Options on issue	M	25.6
Market Capitalisation	A$M	74.0
Cash_(30th September 2021)_	A$M	24.5
Debt_(30th September 2021)_	A$M	-
Enterprise Value	A$M	49.5

Major Shareholder Hawke’s Point – 39.7%

(19[th] November, 2021)

Board of Directors

Peter Mansell

Non-executive Chairman

Peter Nicholson

Managing Director

David Quinlivan

Non-executive Director

Keith Jones

Non-executive Director

Mark Wheatley Non-executive Director

Management

Tony Brazier Chief Financial Officer

Andrew Czerw

GM Resource Development

Brendan Fyfe

General Counsel

Derek Byrne

Chief Operating Officer

==> picture [183 x 73] intentionally omitted <==

• Corporate lawyer with over 40 years’ experience

• Non-executive Chairman of Energy Resources of Australia Limited (Rio Tinto) and DRA Global Ltd

• Mining engineer with over 25 years of mining, private equity and executive leadership

• • Internationally experienced in a range of commodities and mining / processing methods

• Mining engineer with significant mining and executive leadership experience

• • Non-executive Chairman of Silver Lake Resources Limited and Dalaroo Metals Ltd

• Chartered accountant with 38 years’ industry experience

• Chairman of Coda Minerals Ltd and former Chairman of Deloitte Australia

• Chemical engineer and former investment banker with +30 years in the mining industries

• • Non-executive Chairman of Prospect Resources Ltd

• Chartered accountant and senior finance professional with over 20 years’ experience across a range of industries including mining & metals, oil & gas, infrastructure and manufacturing

• Highly experienced geoscience professional with over 30 years of significant senior management experience in Australia and overseas

• Highly experienced legal professional with over 20 years of significant resource industry experience in Australia and overseas

• Highly experienced mining professional with over 35 years of significant mine leadership experience in both Australia and overseas

3

INVESTMENT HIGHLIGHTS

==> picture [136 x 20] intentionally omitted <==

----- Start of picture text -----

• 1 Robust project [1]
----- End of picture text -----

• 5 year mine life

• 81kozpa – average annual gold production

==> picture [370 x 70] intentionally omitted <==

----- Start of picture text -----

• 2 Operations underpinned by high grade Ore Reserve
–
Mining Reserve of 6.2Mt @ 2.4 g/t for 470,000oz Au
• 3 Three operating mines
----- End of picture text -----

• Mining Reserve of 6.2Mt @ 2.4 g/t for 470,000oz Au[2]

• Riverina, Missouri & Golden Eagle

• 1.2Mtpa nameplate process plant operational

• Continuing to build ore stocks

==> picture [381 x 21] intentionally omitted <==

----- Start of picture text -----

• 4
Mineral Resource of 23.1Mt @ 2.7g/t for 2.0Moz Au [2]
----- End of picture text -----

• Exploration program targeting classification upgrades

==> picture [268 x 21] intentionally omitted <==

----- Start of picture text -----

• 5 “District Scale” exploration package
----- End of picture text -----

• 1,210km[2] of highly prospective greenstone belt with ~200 strike km

• Near mine opportunities

• Greenfields opportunities

• Open pit

• Underground

==> picture [183 x 73] intentionally omitted <==

==> picture [439 x 255] intentionally omitted <==

Recap of Key DFS Metrics[1]

• DFS base case undertaken at A$2,100/oz gold price:

• Post-tax free cash flow of A$175 million

• Average annual free cash flow of A$35 million

• Rapid payback of 14 months

• Post-tax NPV6% of A$137 million

4 1. Refer to ASX Announcement dated 30 June 2020 2. Refer to ASX Announcement dated 24 September 2021

FOUR KEY DEPOSITS UNDERPIN MINE PRODUCTION

==> picture [183 x 73] intentionally omitted <==

==> picture [432 x 300] intentionally omitted <==

Deposit	Mineral Resource1	Mining Reserve1	Comments
Riverina	3.0 Mt @ 3.2 g/t for 300 koz	1.7 Mt @ 1.6 g/t for 86 koz	• Open Pit & Underground Resources • Open Pit Reserve • Mineralisation remains open at depth, along strike and down plunge
Sand King	2.5 Mt @ 3.5 g/t for 287 koz	1.2 Mt @ 2.7 g/t for 110 koz	• Open Pit & Underground Resources • Open Pit Reserve • Mine developed to 150m vertical depth • Down plunge drilling confirms mineralisation is open
Missouri	2.1 Mt @ 3.4 g/t for 227 koz	1.6 Mt @ 2.6 g/t for 130 koz	• Open Pit & Underground Resources • Open Pit Reserve
Waihi	2.5 Mt @ 2.6 g/t for 206 koz	1.3 Mt @ 2.4 g/t for 110 koz	• Open Pit & Underground Resource • Open Pit Reserve • Underground potential remains below pits
Callion	0.7 Mt @ 4.9 g/t for 107 koz	0.23 Mt @ 2.7 g/t for 21 koz	• Open Pit & Underground Resources • Underground potential remains below pits
Golden Eagle	0.4 Mt @ 4.1 g/t for 53 koz	0.14 Mt @ 3.5 g/t for 15 koz	• Underground only
TOTAL 11.1 Mt @ 3.3 g/t for 1.2 Moz 6.2 Mt @ 2.4 g/t for 470 koz

Mine plan based on Ore Reserve of 6.2Mt @ 2.4g/t Au for 470koz Au[1]

5 1. Refer to ASX Announcement dated 29 July 2021

MINING: GRADES INCREASING

==> picture [183 x 73] intentionally omitted <==

==> picture [590 x 293] intentionally omitted <==

----- Start of picture text -----

Qtrly data 1 month
----- End of picture text -----

• Ore sources diversified

• Average grade increasing

• Moving to open pit mining

• Assessing further underground opportunities

6

PROCESSING: PRODUCTION OUNCES IMPROVING

==> picture [183 x 73] intentionally omitted <==

==> picture [344 x 204] intentionally omitted <==

----- Start of picture text -----

Ore Processed (t)
250,000 Qtrly data 1 month
200,000
150,000
100,000
50,000
-
Q2'21 Q3'21 Q4'21 Q1'22 October
----- End of picture text -----

• Increasing:

✓ Throughput

✓ Grade

✓ Gold production

• New Skala screens installed

==> picture [347 x 414] intentionally omitted <==

----- Start of picture text -----

Head Grade (gpt)
2.50 Qtrly data 1 month
2.00
1.50
1.00
0.50
-
Q2'21 Q3'21 Q4'21 Q1'22 October
Gold Produced (oz)
Qtrly data Qtr to date
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
Q2'21 Q3'21 Q4'21 Q1'22 Qtr to date
----- End of picture text -----

7

COSTS: FALLING PER OUNCE

==> picture [183 x 73] intentionally omitted <==

==> picture [574 x 310] intentionally omitted <==

----- Start of picture text -----

OBM Costs and Gold Price
Qtrly data 1 month
3,000
2,500
2,000
1,500
1,000
500
-
Q2'21 Q3'21 Q4'21 Q1'22 October
C1 Cash Costs ($/oz) AISC ($/oz) Spot Gold Price (A$/oz)
----- End of picture text -----*

• Capitalised stripping at Missouri

• Tailings Facility Cell construction complete

*A$ at quarter or month end

8

MINERALISED TRENDS

• 1,200km[2] of tenements to explore

• 12 major mineralised trends identified

• • Over 200 known gold occurrences and prospects

• Excellent exploration intercepts:

Santalum 16m @ 1.20g/t (grass roots) Sunraysia North 10m @ 2.22g/t (grass roots) Sky 19m @ 1.53g/t (grass roots) Flame 25m @ 4.64g/t (intermediate) British Lion 5m @ 10.40g/t (intermediate) Palmerston East 4m @ 15.30g/t (intermediate) Victoria Workings 5m @ 30. 69g/t (intermediate) Riverina Deeps 14m @ 6.60g/t (advanced) Riverina Deeps 5m @ 16.70g/t (advanced) Riverina South 13m @ 3.20g/t (advanced) Iguana 21m @ 3.20g/t (advanced) Iguana 9m @ 7.60g/t (advanced)

MINERALISED TRENDS	APPROX. STRIKE LENGTH (km)
Riverina Trend	17
Mulline Trend	17
Sunraysia Trend	4
LOI Trend	7
Golden Eagle Trend	7
Round Dam - Wahalla Trend	26
Callion Trend	10
Chameleon Trend	6
Python Trend	19
Lizard Trend	19
Sand King - Black Rabbit Trend	20
Theil Well Trend	5
TOTAL	157

==> picture [183 x 73] intentionally omitted <==

==> picture [310 x 437] intentionally omitted <==

9

DISTRICT SCALE LANDHOLDING & EXPLORATION

==> picture [183 x 73] intentionally omitted <==

==> picture [241 x 298] intentionally omitted <==

==> picture [358 x 240] intentionally omitted <==

==> picture [408 x 191] intentionally omitted <==

==> picture [228 x 457] intentionally omitted <==

10

SITE PHOTOGRAPHS

==> picture [183 x 73] intentionally omitted <==

==> picture [318 x 238] intentionally omitted <==

==> picture [255 x 238] intentionally omitted <==

==> picture [317 x 238] intentionally omitted <==

==> picture [294 x 196] intentionally omitted <==

==> picture [262 x 197] intentionally omitted <==

11

==> picture [960 x 72] intentionally omitted <==

==> picture [246 x 280] intentionally omitted <==

12