Investor Presentation July 2020
DISCLAIM ER These presentation slides (the “ Slides”) do not comprise an admission document, listing Any investment, investment activity or controlled activity to which the Slides relates is particulars or a prospectus relating to AfriTin M ining Limited (“ the Company”) or any available only to such persons and will be engaged in only with such persons. Persons of subsidiary of the Company, do not constitute an offer or invitation to purchase or any other description, including those that do not have professional experience in matters subscribe for any securities of the Company and should not be relied on in connection relating to investments, should not rely or act upon the Slides. with a decision to purchase or subscribe for any such securities. The Slides and the The Slides should not be distributed, published, reproduced or otherwise made available accompanying verbal presentation do not constitute a recommendation regarding any in whole or in part by recipients to any other person and, in particular, should not be decision to sell or purchase securities in the Company. The Slides and the accompanying distributed to persons with an address in the United States of America, Australia, the verbal presentation are confidential, and the Slides are being supplied to you solely for Republic of South Africa, the Republic of Ireland, Japan or Canada or in any other country your information and may not be reproduced or distributed to any other person or outside the United Kingdom where such distribution may lead to a breach of any legal or published, in whole or in part, for any purpose. regulatory requirement. No reliance may be placed for any purpose whatsoever on the information contained in No securities commission or similar authority in Canada has in any way passed on the the Slides and the accompanying verbal presentation or the completeness or accuracy of merits of the securities represented hereunder and any representation to the contrary is such information. No representation or warranty, express or implied, is given by or on an offence. No document in relation to the placing of the Company shares has been, or behalf of the Company or its respective shareholders, directors, officers or employees or will be, lodged with, or registered by, The Australian Securities and Investments any other person as to the accuracy or completeness of the information or opinions Commission, and no registration statement has been, or will be, filed with the Japanese contained in the Slides and the accompanying verbal presentation, and no liability is M inistry of Finance in relation to the placing or the Company’s shares. Accordingly, accepted for any such information or opinions (including in the case of negligence, but subject to certain exceptions, the Shares may not, directly or indirectly, be offered or sold excluding any liability for fraud). within Canada, Australia, Japan, South Africa or the Republic of Ireland or offered or sold The Slides contain forward-looking statements, which relate, inter alia, to the Company’s to a resident of Canada, Australia, Japan, South Africa or the Republic of Ireland. proposed strategy, plans and objectives. Such forward-looking statements involve known The Securities have not been, and will not be, registered under the United States and unknown risks, uncertainties and other important factors beyond the control of the Securities Act of 1933, as amended (the “ US Securities Act”) or with any securities Company that could cause the actual performance or achievements of the Company to be regulatory authority of any state or other jurisdiction of the United States and may not be materially different from such forward-looking statements. Accordingly, you should not offered or sold within the United States or to, or for the account or benefit of, any US rely on any forward-looking statements and the Company accepts no obligation to Person as that term is defined in Regulation S under the US Securities Act. The Company disseminate any updates or revisions to such forward-looking statements. has not been registered and will not register under the United States Investment The Slides and their contents are directed only at persons who fall within the exemptions Company Act of 1940, as amended. The Slides and their contents are confidential and contained in Articles 19 and 49 of the Financial Services and M arkets Act 2000 (Financial should not unless otherwise agreed in writing by AfriTin Mining Limited be copied, Promotion) Order 2005 (such as persons who are authorised or exempt persons within distributed, published or reproduced (in whole or in part) or disclosed by recipients to any the meaning of the Financial Services and M arkets Act 2000 and certain other persons other person. having professional experience relating to investments, high net worth companies, unincorporated associations or partnerships, the trustees of high value trusts) and persons to whom distribution may otherwise lawfully be made. 2
Company Overview & M arket Backdrop 3
ABOUT US: THE AFRICAN TIN CHAM PION ¡ A tin mining company with a portfolio of production and near production tin assets in Africa ¡ Uis Tin M ine – Namibia (production) – Previously the worlds largest open cast tin mine ¡ M okopane Tin Project – South Africa ¡ Listed on AIM November 2017 ¡ London's ONL Y pure play listed tin company ¡ Experienced M anagement team ¡ M anagement carries over 120 years of experience ¡ From listing on AIM to first production in two years ¡ Objective to become the tin champion of Africa ¡ Well placed to benefit from the tin supply shortage 4
LONDON’S ONL Y PURE-PLAY TIN LISTING Low cost curve The right commodity First quartile cash-cost curve for Phase 2 S ound market fundamentals, supporting stable commodity price outlook STRATEGIC PRIN CIPLES Scalable Early production Phased development approach allows for early Large mining licence area with over 180 cash flows, while significantly de-risking Phase 2 mineralised, outcropping pegmatites TIN OFFTAKE ACHIEVE STEADY IDENTIFY AND EXPLORE PHASE 1 AGREEMENT IN PLACE OPTIMISATION STATE PRODUCTION ADDITIONAL TIN STRATEGIC OPPORTUNITIES STUDY COMPLETE O BJ ECTIVES 2020 5
ENVIRONM ENTAL, SOCIAL AND GOVERNANCE AfriTin Mining complies with all applicable safety, health & environmental laws in addition to our own company policies and requirements. W e strive to use resources sparingly so as to reduce the impacts of our operations on the environment, stakeholders and surrounding communities. PLANET PEOPLE PERFORMANCE INTEGRITY Health & Safety of Economic contribution in Monthly Monitoring W e seek to gain competitive workers Namibia advantage through sound, ethical Ensuring compliance to the O EMP § O H&S policies and procedures are in and legal practices. through monthly monitoring of: § Close to N $200 000 000 has been place § Dust fallout spent in the development of the Uis Protection of our People § Safety is reemphasised daily through § Surface water quality Tin Mine § Commitment to respecting safety talks and shares § Static borehole water levels § Majority of this expenditure has labour & human rights § H&S risks are assessed, controlled, § O nsite SHE field audits occurred in N amibia § W e believe in a diverse & mitigated and monitored Monthly monitoring allows for inclusive working environment Economic Support identification and mitigation of SHE Social Development § Zero-tolerance policy for any impacts in a timely manner. § Sponsoring of local soccer teams § All permanent staff at the Uis Tin form of harassment or bullying § Co-sponsorship of a borehole drilled Mine are N amibian citizens Stakeholder Engagement in the Ugab River to provide water Pollution Control & Prevention § Employing from within the local to wildlife § Commitment to transparency & community wherever possible § W aste rock is co-disposed with § Purchasing of tin mined by artisanal open communication § Supporting the local economy by tailings on existing waste rock dumps § Uis Tin Mine has not identified miners operating in the mining supporting local accommodation, § Good housekeeping practices are licence any stakeholder engagement risks stores and restaurants encouraged § Sponsoring the 2020 Rhino Run and § The community is supportive of § Businesses have opened in Uis and § A hydrocarbon spill management plan Ride in support of The Rhino Trust the Uis Tin Mine substantial developments have has been implemented onsite of N amibia occurred AfriTin Mining is currently working towards compliancy with the International Finance Corporation’s Performance Standards and is aiming to obtain its Conflict Free Certificate . Best practices are implemented wherever possible. 6
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