1. One 2 Five Benchmarking Review Gold sites

2. AFSL Disclaimer The information contained in this presentation is for information purposes only and is not intended to be financial product or investment advice or a recommendation. Energetics is authorised to provide financial product advice on derivatives to wholesale clients under the Corporations Act 2001 AFSL No: 329935. In providing information and advice to you, we rely on the accuracy of information provided by you and your company. This presentation has been prepared without taking into account the objectives, financial situation or needs of any individual. 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 legal and taxation advice appropriate to their jurisdiction. Statements made in this presentation are made as at the date of the presentation unless otherwise stated. Past performance Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Future performance Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Actual results, performance or achievements may vary materially for many projections because events and actual circumstances frequently do not occur as forecast and these differences can be material.

3. Sectors included in this data set Mining Industry 201 diagnostic sessions Non-Ferrous includes Nickel, Copper, Zinc, Bauxite Other mining is Salt, Diamonds, Mineral sands

4. Countries included in this data set Gold Industry 19 diagnostic sessions 16 in Australia 3 in New Zealand Mining Industry 201 diagnostic sessions

5. Companies included in this data set Gold Industry 19 diagnostic sessions Includes Barrick, AngloGold Ashanti and Newmont Mining Industry 201 diagnostic sessions

6. Star ratings Gold Industry Max: 3 Average: 2 stars Average achievement: 29.3% Significant improvement in scores –Gold industry out performed the average in the industry –No diagnostics after 2009 Mining Industry Max: 4 Average: 2 stars Average achievement: 31.0%

7. Performance in elements: Gold Sector

8. Strong performance

9. Performance in elements: Gold Sector Room for improvement

10. Performance in elements: Industry

11. Strong performance

12. Performance in elements: Industry Room for improvement

13. Observations We could differentiate the performance of the gold sector as being lower than the global industry (though this is from a small data set) Average stars 1.84 vs 1.95 Average achievement is 2% lower than the industry (29% vs 31%) Areas where the gold industry excels are very similar to the global mining industry –Notable high performance in Budgeting (Energy Operating Budgets, Criteria/Budgets for CAPEX and Purchasing Procedures) Room for improvement in some different areas –Gold: Leadership and Understanding Performance, also People and Procedures –Mining industry: Leadership and Auditing and Decision Making

14. Critical Actions Note limited need for action in these areas

15. Areas of significant achievement GoldMining Industry Require attention in less than 10% of diagnostics

16. Areas most requiring attention GoldMining Industry Require attention in more than 40% of diagnostics

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