Avenira Limited · ASX:AEV

Avenira — Mines and Money conference 2018

17 slides from Avenira's conference presentation, Nov 28, 2018

1. Slide 1: Investor Presentation

   Investor Presentation ASX: AEV

2. Slide 2: Disclaimer

   Disclaimer This presentation has been prepared by Avenira Limited (Avenira). This document does not constitute or contain an offer, Statements contained in this document, including but not limited to those regarding the possible or assumed future costs, invitation, solicitation or recommendation wit

3. Slide 3: Corporate Snapshot

   Corporate Snapshot BOARD OF DIRECTORS CAPITAL STRUCTURE Chairman Brett Clark Share price (16 November 2018) A$0.016 Managing Director Louis Calvarin Shares in issue (ASX: AEV) 1,0550m Non-Executive Director Ian McCubbing Options (25c, Sept 2019 expiry) 80.0m Non-Executive Director Christopher Pointo

4. Slide 4: Investment rationale

   Investment rationale Well positioned for this growing, essential industry  Food demand is rising rapidly in line with population growth… and arable land is declining  Phosphate rock market growth driven by need for fertilizers Phosphate rock is a critical element for Expansion of Baobab Phosphate

5. Slide 5: Critical for food security

   Critical for food security Phosphate rock market expected to reach 268Mt 90% 2024 Vital phosphate ingredient for rock demand NPK fertilizers Food for fertilisers demand Depleted soil predicted to Highly vertical integrated nutrients need to be double by market (12- 15% pa replenished 2050 traded) La

6. Slide 6: Positive outlook for phosphate market

   Positive outlook for phosphate market Prices are recovering PHOSPHATE ROCK DEMAND FORECAST 2  Phosphate fertilisers seeing price increases 225  Phosphate rock is benefiting 220 Actuals Forecast 216mt 219mt 213mt 213mt  Benchmark pricing coming off cyclical 10 year lows, already up >10% 215 211mt

7. Slide 7: Africa: The fastest growing fertilizer market

   Africa: The fastest growing fertilizer market  Large, established industry in North and West Africa  Market price benchmark  Sought after product by Europe, India and Americas  Senegal is a stable West African jurisdiction with multiple mining success stories 7

8. Slide 8: The Baobab Project

   The Baobab Project 80% - Avenira 20% - Mimran Group An established phosphate rock mine in Senegal, West Africa Operations commenced in 2016 Currently processing stockpiles at the Gadde Bissik Mine 8

9. Slide 9: Baobab Project: Hitting the key milestones

   Baobab Project: Hitting the key milestones ALREADY OPERATING LARGE MINERAL RESOURCES INFRASTRUCTURE In country operating skills Indicated Resources of Readily accessible Supply chain experience 42.0Mt @ 19.4% P2O5 sealed roads Experience with phosphate Inferred Resources of Access to export infrastr

10. Slide 10: Baobab Project: Current operations

    Baobab Project: Current operations  Currently processing existing ROM piles at the Gadde Bissik Mine at Baobab  Valuable experience already gained  Selling to local vertically integrated phosphoric acid producer  Potential to extend operations by recommencing mining  Mining suspended in 2017 du

11. Slide 11: Baobab Expansion: 1Mtpa projected capacity

    Baobab Expansion: 1Mtpa projected capacity Aims of Project Expansion  1.0 Mtpa phosphate rock concentrate projected capacity  Enhanced recoveries to improve quality and reduce operating costs  Replace existing circuit with industry standard flotation, magnetic separation and drying steps  High-g

12. Slide 12: Baobab Expansion: Permitting

    Baobab Expansion: Permitting EXPLOITATION PERMIT GRANTED  Baobab Exploitation Permit granted by the Government of Senegal  Permit valid for a 20-year renewable term and covers a 75 km2 area  The Senegalese Government will hold a 10% free-carried interest in the legal entity owning the Permit, and

13. Slide 13: Baobab Expansion: Timetable

    Baobab Expansion: Timetable 20-year Exploitation Permit ✅Completed Testwork for high grade product specification ✅Completed Increase Mineral Resources ✅Completed Concept Study ✅Completed Feasibility Study In progress Testwork to validate expansion flowsheet In progress Bankable Feasibility Study Aft

14. Slide 14: Wonarah Project

    Wonarah Project SLEEPER PROJECT?  100% owned by Avenira  One of the largest phosphate deposits in Australia  Huge resource:  Measured Resource of 65 Mt @ 22.4% P2O5  Indicated Resource of 133 Mt @ 21.1% P2O5  Inferred Resource of 352 Mt @ 21 % P2O5 (15% cut-off)  Excellent infrastructure  Ac

15. Slide 15: JDC Phosphate

    JDC Phosphate AVENIRA HAS A 7% INTEREST IN JDC PHOSPHATE  A US-based private company seeking to commercialise the “Improved Hard Process” technology for superphosphoric acid production  Technology is potentially applicable to Avenira’s Baobab and Wonarah Projects  Avenira has exclusive rights to

16. Slide 16: Key Milestones

    Key Milestones ACHIEVED Construct and successfully operate a mine  Develop in-country capability  Supply chain experience  Avenira is extremely well placed to Increase Mineral Resources  exploit the upswing in the global Concept study to support expansion  rock phosphate market Testwork to supp

17. Slide 17: Avenira Limited

    Avenira Limited ABN 48 116 296 541 www.avenira.com Suite 19, 100 Hay Street Subiaco, Western Australia 6008 AUSTRALIA PO Box 1704 West Perth WA 6872 AUSTRALIA +61 8 9264 7000 frontdesk@avenira.com 17

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