Avenira Limited · ASX:AEV

Avenira — Africa Down Under (August 2018)

16 slides from Avenira's conference presentation, Aug 29, 2018

1. Slide 1: Africa Down Under

   August 2018 Africa Down Under For personal use only ASX: AEV ABN 48 116 296 541

2. Slide 2: Disclaimer

   Disclaimer For personal use only This presentation has been prepared by Avenira Limited (Avenira). This document does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Avenira. This document does not constitute an o

3. Slide 3: Rationale to Invest

   Rationale to Invest For personal use only  Independent phosphate company with enviable industry support  Perfectly placed for rapidly growing fertiliser markets, as driven by world population growth and food demand  80% interest in the Baobab Phosphate Project in the Republic of Senegal  Current

4. Slide 4: Corporate Snapshot

   Corporate Snapshot For personal use only BOARD OF DIRECTORS CAPITAL STRUCTURE Chairman Brett Clark Share price (27 August 2018) A$0.02 Managing Director Louis Calvarin Shares in issue (ASX: AEV) 1. 956.0m Non-Executive Director Ian McCubbing Options (25c, Sept 2019 expiry) 80.0m Non-Executive Direct

5. Slide 5: Phosphate Rock: Critical for Food Security

   Phosphate Rock: Critical for Food Security For personal use only PHOSPHATE MARKET OVERVIEW  Phosphate rock - ingredient for essentially all phosphate products  90% global demand is in fertilisers  Food demand predicted to double by 2050  High incidence of vertical integration: only ≈ 12-15% of a

6. Slide 6: The Gadde Bissik Mine

   The Gadde Bissik Mine For personal use only an established phosphate rock mine in Senegal, West Africa currently processing stockpiles 6

7. Slide 7: Baobab Project Overview

   Baobab Project OVERVIEW For personal use only  Phosphate rock mine located in Senegal, West Africa  80% owned by Avenira, 20% owned by Mimran Group (Senegal’s largest private employer and experienced agriculture industry participant)  Senegal is a stable West African jurisdiction with multiple mi

8. Slide 8: Hitting the Milestones

   Hitting the Milestones For personal use only ALREADY OPERATING LARGE MINERAL RESOURCES INFRASTRUCTURE AVAILABLE 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 exp

9. Slide 9: Baobab Project Location

   Baobab Project LOCATION For personal use only  ≈ 150 km from the port of Dakar in Senegal, West Africa  Close to infrastructure and labour  Sedimentary Phosphate Rock Deposit  Mineralisation beneath 30-35 m of cover  New Exploitation Permit for 75 km2 in process that will enable the project to

10. Slide 10: Baobab's Gadde Bissik Mine

    Baobab’s Gadde Bissik Mine CURRENT OPERATIONS For personal use only VALUABLE EXPERIENCE ALREADY GAINED  Developed in 2015/2016  Mining suspended in 2017  Sub-optimal recovery using existing circuit  Phosphate prices at cyclical low in 2017  Currently operating on a small scale  Processing exis

11. Slide 11: Baobab Project Expansion Project Highlights

    Baobab Project EXPANSION PROJECT HIGHLIGHTS For personal use only BAOBAB TO BE EXPANDED TO PRODUCE HIGH QUALITY PHOSPHATE PRODUCT  Concept Study completed in 2017 provided direction for the current Feasibility Study  Targeting expansion of Baobab Mine  Leverage existing site infrastructure  Repl

12. Slide 12: Wonarah Project

    Wonarah Project For personal use only SLEEPER PROJECT?  100% owned by Avenira, and one of the largest phosphate deposits in Australia  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)  Access to infrastructur

13. Slide 13: JDC Phosphate

    JDC Phosphate For personal use only AVENIRA HAS A 7% INTEREST IN JDC  JDC Phosphate - USA based private company seeking to commercialise the “Improved Hard Process” technology for superphosphoric acid production  Potential to provide a number of advantages across the value chain relative to existi

14. Slide 14: Phosphate Prices

    Phosphate Prices For personal use only POSITIVE OUTLOOK PRICES VS. P2O5 CONTENT 1  Fertiliser sector and phosphate fertilisers in particular seeing price 160 Current benchmark price increases 140 (32% P2O5 FOB Morocco) 120 = US$103.5/t Indicative Baobab price  Phosphate rock is benefiting range po

15. Slide 15: Key Milestones

    Key Milestones For personal use only COMPLETED UPCOMING Construct and successfully operate a mine  Testwork to validate expansion in progress flowsheet Develop in-country capability  Exploitation Permit to access expansion in progress Mineral Resources Supply chain experience  Feasibility Study o

16. Slide 16: Avenira Limited

    For personal use only 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 16

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