PRL GLOBAL LTD — AGM Information 2013

Nov 27, 2013

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CI RESOURCES LIMITED ANNUAL GENERAL MEETING 28[th] NOVEMBER 2013 @ 11.00AM

Chairman’s Introduction and Welcome

David Somerville

Good morning ladies and gentlemen and welcome to the 2013 Annual General Meeting of CI Resources Limited.

My name is David Somerville and I am the Chairman of CI Resources Limited.

Before we commence with the formal business of this meeting, I would like to take this opportunity to introduce you to my fellow directors:

• Adrian Gurgone

• Tee Lip Sin

• Tee Lip Jen

• Kelvin Tan,

• And provide apologies for Dato’ Kamaruddin bin Mohammed

I would also like to introduce Ms Elizabeth Lee, our company secretary.

The company secretary has advised me that a quorum is present and I therefore declare the meeting open.

CI Resources Limited ABN 70 006 788 754 Postal address: PO Box 1533 Subiaco WA 6904 Telephone: +61 8 9489 4444

Chairman’s address and presentation

I am now pleased to present to you today, the Chairman’s Address to the shareholders of CI Resources Limited.

2013 was another strong year for CI Resources and its subsidiary – Phosphate Resources Ltd (“PRL”).

For the year ended 30 June 2013, the net profit after tax attributable to members of the Company was AUD$12.93m. This equates to an earnings per share of 17.75 cents. This is another excellent result for the Company based upon continued strong performance from the operations of PRL.

CI Resources is the controlling shareholder of PRL, and is represented on the Board of PRL by Mr Tee Lip Sin, Mr Tee Lip Jen and Dato’ Kamaruddin bin Mohammed.

PRL group consolidated net profit after tax of $24.19m included $20.88m profit attributed to the phosphate mining operations on Christmas Island and $2.08m profit being achieved from palm oil plantation and milling operations in the Malaysian Peninsula.

PRL’s phosphate operations performed well during the financial year, with a strong profit and increase in tonnes of phosphate shipped. CI Maintenance Services secured an additional 3-year contract with the Department of Immigration.

CK Plantations Sdn Bhd achieved a profit after tax of $2.08m, which was lower than expected due to a reduction in CPO pricing. Nevertheless, the Board of PRL is confident that the investment will continue to provide a reasonable return to PRL for the foreseeable future.

During the year, PRL shareholders were provided with the opportunity to participate in a share buyback, which saw some 555,200 shares

CI Resources Limited ABN 70 006 788 754 Postal address: PO Box 1533 Subiaco WA 6904 Telephone: +61 8 9489 4444

repurchased by PRL for an amount of $11.1m. CI Resources participated in the buyback to a limited extent, with the net result being an increase in effective shareholding in PRL to 63.05%.

A major success for PRL during the year came with the Minister’s approval of a renewed mining lease for a further 21 years, extending the tenure on the primary mining lease until 2034. This lease extension provides further security for the medium term outlook for mining operations on Christmas Island. Conversely, the Chairman of PRL, Mr Clive Brown has provided a cautious outlook subject to achieving sufficient clearing permits and sustainable resources.

Closing

The Board of CI Resources is supportive of the activities of PRL, which has an expectation of continued moderate growth as market conditions are becoming tougher moving forward. However, the collective Boards of CI Resources and PRL continue to seek alternate opportunities both on Christmas Island and offshore.

CI Resources has over the past 12 months had a recovery in its share price by 65%, reflecting a further recognition of value in the Company. The Board continues its clear intent to increase value to shareholders in both the short and long term.

As Chairman of CI Resources, I would like to thank the Board of CI Resources for their efforts over the year, and to recognise and thank the Board and Management of PRL for their dedication and performance over the year.

This concludes my Chairman’s Address.

CI Resources Limited ABN 70 006 788 754 Postal address: PO Box 1533 Subiaco WA 6904 Telephone: +61 8 9489 4444