Resolute Mining Limited — Investor Presentation 2019

Feb 3, 2019

Megawatts to Mines The Syama Power Story: World’s Largest Mine-Based Off-Grid Fully Integrated Hybrid Power Plant Mine Gold. Create Value.Resolute: John Welborn | Ignite: Grant Berndsen

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“Innovation is a process that combines discovering an opportunity, blueprinting an idea to seize that opportunity, and implementing that idea to achieve results. Remember - no impact, no innovation .”

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The Little Black Book of Innovation

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Syama Mine Site

World’s Largest Mine Based Off-Grid Fully Integrated

50MW (40MW Peak Demand with 10MW Reserve Capacity) Hybrid Solar, Battery and HFO Plant

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System Overview – Hybrid Components

5 x 10.4MW W20V32 Wartsila HFO Engines = 52MW Capacity

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GEMS - Energy Management System 5 Million Litre Fuel Farm

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Battery Energy Storage Solution = 15.24MW / 7.62MWh Single Axis Tracking Solar PV = 33.4MW

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System Overview – Meeting the Mine’s Demand

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Highlights

✓ One integrated power station – ensuring optimal operations

✓ Single operation, designed for maximum efficiency

✓ One major EPC and O&M supplier simplifies project and operations management ✓ Standard plant design used for each technology; integration of technology provides unique value ✓ Replacing LFO with HFO – achieving ±30% fuel efficiency benefit ✓ Solar penetration ±30%

✓ Significantly greener and reduced emissions ✓ Fast-track implementation ✓ Power supply risk on the IPP ; enables Resolute to focus on core competency of mining ✓ The station is modular and expandable to meet likely future growth requirements of the mine

✓ Funding – strong interest in supporting this unique first of a kind project

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Comparison of Key Metrics

Existing Diesel Plant

• 26MW owned by Resolute

• 13MW rental units

Typical Off-Grid Mine Power

• Thermal plants (Diesel or HFO)

• Typically owned and self-funded by mines directly

• Hybridisation not yet being properly explored and implemented

Syama Hybrid Power

• IPP structure and solution

• All technologies in one single power plant

• • Modular and scalable commercial structure

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The Innovation

Hybrid Management System World’s Largest Mine Based Off-Grid Battery Energy Storage System Hybrid Power Solution

Next Generation Engine Technology

Di italisation Inte ration g g

Solar S stem Solution y

Private Funded Solution

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The Innovation Hybrid Power Features

• Instant power

• Power quality

• Frequency control

• Voltage control

• Spinning reserve replacement

• Ancillary services

• 24/7 operation in auto

• Higher load with better fuel efficiency

• Reduce engine run time

• Fuel savings

• 50MW thermal

• 33.4MWp solar

• 15MW / 7.5MWh BESS

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The Impact Innovation for Cost Savings

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Continuous Reduced Optimised Less Downtime Operation Emissions Plant Operation O&M Optimisation Extended Fuel Enhanced Lifetime and Savings Savings Dispatchability

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The Impact Innovation for Greater Control and Decreased Costs

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Modular Power Supply Fuel Cost Expandable Quality Hedge

$ Reduced Operating Costs

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Upskilling Local Workforce

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“We have this handy fusion reactor in the sky called the sun, you don’t have to do anything, it just works. It shows up every day.” Elon Musk, CEO Tesla Motors

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Mine Gold. Create Value.

John Welborn Managing Director & CEO

John Welborn Level 2, Australia Place 15-17 William St Managing Director & CEO Perth, Western Australia 6000 Jeremy Meynert General Manager – T: +61 8 9261 6100 Business Development & F: +61 8 9322 7597 Investor Relations E: contact@rml.com.au