ORA BANDA MINING LTD — Investor Presentation 2021

Aug 2, 2021

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Diggers & Dealers Presentation 3[rd] August, 2021

IMPORTANT NOTICE

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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 presentation that relates to exploration results, and the Riverina, Riverina South, Waihi, Golden Eagle, Sand King, Missouri and Callion Mineral Resources is based on information compiled under the supervision of Mr Andrew Czerw, an employee of Ora Banda Mining Limited, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Czerw 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 Czerw consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Sand King, Missouri, Riverina Riverina South, Waihi, Golden Eagle, and Callion Mineral Resources are reported in accordance with the JORC Code (2012). 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), 9October 2020 (Riverina South) and restated in market announcement ‘Davyhurst Gold Project - Ore Reserve Update’ dated 26 May 2020. The Company further confirms that all material assumptions and technical parameters underpinning the Mineral Resource estimates in the relevant market announcements continue to apply and have not materially changed.

Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, Waihi, Golden Eagle and Callion, were first reported in accordance with the JORC 2004 code in Swan Gold Mining Limited Prospectus released to the market on 13 February 2013. Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, 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 presentation 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 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 Davidson is a Fellow member of the Australasian Institute of Mining and Metallurgy. Mr Davidson is satisfied that the information provided in this statement has been determined to a feasibility level of accuracy, based on the data provided by Ora Banda Mining Limited. Mr Davidson consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

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CORPORATE OVERVIEW

Ora Banda Mining (ASX:OBM)

Share Price_(30th July 2021)_	A$/share	0.135
Shares on issue	M	973.1
Options on issue	M	36.3
Market Capitalisation	A$M	136.2
Cash_(30th June 2021)_	A$M	24.2
Debt_(30th June 2021)_	A$M	-
Enterprise Value	A$M	112.0
Major Shareholder	Hawke’s Point – 39.7%

Board of Directors

Peter Mansell

Non-executive Chairman

Peter Nicholson*

Chief Executive Officer

David Quinlivan Non-executive Director Keith Jones Non-executive Director

Mark Wheatley

Non-executive Director

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• Corporate lawyer with over 40 years’ experience

• • Currently 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

• • Currently Non-executive Chairman of Silver Lake Resources Limited

• Chartered accountant with 38 years’ industry experience

• • Former Chairman of Deloitte Australia and currently Chairman of Coda Minerals Ltd

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

• • Non-executive Chairman of Prospect Resources Ltd

(30[th] July 2021)

Management

Tony Brazier

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

• Andrew Czerw Highly experienced geoscience professional with over 30 years of significant senior GM Resource Development management experience in Australia and overseas Brendan Fyfe • Highly experienced legal professional with over 20 years of significant resource industry General Counsel experience in Australia and overseas

Derek Byrne GM Operations

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

• Commenced April 2021

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INVESTMENT HIGHLIGHTS

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• 1 Robust project [1]
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• 5 year mine life

• 81kozpa – average annual gold production

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

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• 4
Mineral Resource of 24.3Mt @ 2.8g/t for 2.2Moz Au [2]
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Exploration program targeting classification upgrades
• 5 “District Scale” exploration package
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• 1,350km[2] of highly prospective greenstone belt with ~200 strike km

• Near mine opportunities

• Greenfields opportunities

• Open pit

• Underground

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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

1. Refer to ASX Announcement dated 30 June 2020 2. Refer to ASX Announcement dated 29 July 2021

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SIX KEY DEPOSITS UNDERPIN MINE PRODUCTION

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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 Resource • 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 • 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	• Open Pit & Underground • High grade underground potential
TOTAL 11.1 Mt @ 3.3 g/t for 1.2 Moz 6.2 Mt @ 2.4 g/t for 460 koz

Mine plan based on Ore Reserve of 6.2Mt @ 2.4g/t Au for 460koz Au[1]

1. Refer to ASX Announcement dated 29 July 2021

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PROJECT COMMISSIONING AND RAMP UP

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• 14,726oz of gold poured

• Plant recommissioned on time and budget

• Plant viscosity issues – RESOLVED

• Underground production performance – RESOLVED

• Lower than anticipated feed grades – IMPROVING

• SKALA screen underperformance – IMPROVING

• New tailings cell construction – UNDERWAY

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Riverina Open Pit
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Golden Eagle Underground

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• Sample Preparation Laboratory - UNDERWAY

Davyhurst Plant

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Missouri and Sand King
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DISTRICT SCALE LANDHOLDING & EXPLORATION

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• Golden Eagle re-interpretation

• Potential mine life extension

• Early exploration success

• Riverina Deeps

• Sunraysia North

• Santalum

• Iguana

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– IGUANA NEAR TERM MINE LIFE GROWTH

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• Resource estimate of 2.7Mt @ 2.0 g/t Au for 175koz[1]

• Significant component of higher-grade ounces

• 3,750m RC program complete – aimed at upgrading inferred to indicated

• 500m Diamond program planned as phase 2 drill program

• 6,150m RC phase 3 program

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Lizard Pit looking NE (circa 2000)
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8 1. Refer to ASX Announcement dated 29 July 2021

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