Guest: Peter Albert, CEO, G-Resources December 2013

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1 Guest: Peter Albert, CEO, G-Resources December 2013

2 Before we begin 2 1 2

What we do Award-winning global provider of

experience working with institutional investors to

3 What we do Award-winning global provider of sustainability research and analysis with broad coverage of global capital markets staff and more than 80 analysts Over 20 years experience working with institutional investors to develop and implement responsible investment policies and strategies. 3

Member of the Institute of Materials, Minerals and Mining (London), a member of the AusIMM and a

4 Peter Albert Chief Executive Officer, G-Resources Executive MBA degree Mining CEO of the Year at the 2011 and 2012 Asia Mining Congress. Member of the Institute of Materials, Minerals and Mining (London), a member of the AusIMM and a Chartered Engineer. Former Executive General Manager-Asia, OZ Minerals Limited General Manager Oxiana Limited, Fluor Daniel. Worked with Shell-Billiton (Australia) and JCI (South Africa). 4

5 Mining Industry in Asia Asia: An unprecedented demand for minerals and metals Asia: A growing supplier of minerals and metals Source: Barclays Capital and the World Bank as summarized by M. L. Davis, speech to Bank of America Merrill Lynch Global Metals & Mining Conference, Miami, 15 May Source: Raw Materials Group, Stockholm, Sweden 5

6 ESG Risk in the Mining Industry In Asia Health & Safety Strikes, Government investigations, Reputation Community Relations Reputation and Regulatory Impact Investment Risk Water Production disruption, Regulatory & Reputation Impacts Corruption Reputation, Legal, Regulatory Impacts 6

Corruption: One Example Exposure Preparedness Investment

Sustainalytics Indicators: Whistleblower Programs

Transparency on Payments to Host Governments Exp.

7 Corruption: One Example Exposure Preparedness Investment Track record Risk Source: Transparency International Sustainalytics Indicators: Whistleblower Programs Business Ethics Related Controversies or Incidents Transparency on Payments to Host Governments Exp Prep. Score: 68 Score: 67 Investment Risk: Moderate 7

8 Main Findings Overall investment risk fairly consistent across the companies But Risk Factor contributions vary significantly Water, Corruption, H&S contributions are high. Community relations is low. Investment Risk Community Relations Health & Safety Corruption 15.4 Water 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 8

9 Recommendations to Investors Water Exposure scores are systematically above the Preparedness scores Companies need to improve their water management plans Disclose operations located in waterstressed areas and where local populations lack access to clean water Disclose an assessment of the impact of water withdrawal and wastewater discharges on local communities and ecosystems Disclose site-specific water management plan Corruption Exposure scores are systematically above the Preparedness scores Companies should engage with governments on corruption Request companies to publicly support the EITI 9

10 G-RESOURCES MARTABE Title Heading Mining Sub-heading Asia: Managing ESG Risks 00 April 2011 December 2013 Nov 2009:12.00am

11 G-RESOURCES MARTABE General Overview Martabe Gold Mine is a world class gold and silver mine located in Sumatra, Indonesia 95% owned by G-Resources (5% by local government) 9 million ounces of gold equivalent resources Long-term commitment to the region of North Sumatra 11

12 G-RESOURCES MARTABE Technical Overview Conventional open-cut mining and CIL processing. Tailings disposal in a conventional TSF. 4.5 Mtpa throughput. 250 K oz Au and 2 to 3 Moz Ag per year. Reserves of 3,034 Koz gold and 33,731 Koz silver. Mine life 11 years+ 12

13 G-RESOURCES MARTABE Environmental, Social and Governance Community and Social Expectations Environmental Water Resources Government Cooperation NGOs and Academic Partners 13

G-RESOURCES MARTABE Community Integration MARTABE Fully staffed Community Relations department (70 staff) Monthly community forums Community Consultative committee Over 1,700 local employees Regular

14 G-RESOURCES MARTABE Community Integration MARTABE Fully staffed Community Relations department (70 staff) Monthly community forums Community Consultative committee Over 1,700 local employees Regular Site tours for Employees Leaders Teachers Government Community groups Concerned citizens COMMUNITY Local events Well informed Community magazine 30,000 residents No history of mining in area Dependant on local water and agriculture Concerned about potential impacts 14

15 G-RESOURCES MARTABE Community Engagement and Outreach Donations for Needy Agricultural Support Community Forums Reading Gardens Regional Disaster Relief 15

16 G-RESOURCES MARTABE Communication

17 G-RESOURCES MARTABE Coming Together Community attends a PTAR Organised Christian prayer meeting Community attends a PTAR organised Muslim prayer meeting

18 G-RESOURCES MARTABE Overview and Location Sibolga Medan Sibolga Singapore

19 MARTABE GOLD MINE Water Resources Water as a risk Affected Watershed: 591 hectares Site Footprint: 426 hectares Rainfall: 4.0 m/year Positive Water Balance 17 million m 3 of rainfall All water that can be diverted around operation is diverted All water involved in mining is treated and tested before release Best practice water management

20 MARTABE GOLD MINE Water Diversion and Treatment Clean Water Diversion: 40% Clean Water Discharge WPP TSF SD1 SD2 Diverted Clean Water Water Containment and Treatment

21 MARTABE GOLD MINE Water Treatment and Discharge Waste Water Treatment Plant Operation 8.5 million m 3 treated annually Cyanide Neutralization Turbidity and Colour ph Neutralization Metal Removal 21

MARTABE GOLD MINE Monitoring for Sustainability Indonesian Mining Discharge and Surface Water Standards Equator Principles -IFC Guidelines for

22 MARTABE GOLD MINE Monitoring for Sustainability Indonesian Mining Discharge and Surface Water Standards Equator Principles -IFC Guidelines for Mining Water Discharge Regular sampling and analysis with Integrated community team University of Northern Sumatra quarterly aquatic biota monitoring

23 MARTABE GOLD MINE Monitoring Locations Surface Water Groundwater Aquatic Bio Monitoring Air Monitoring Tailings Storage WPP Aek Pahu River Community Aqueduct Nov 2009:12.00am Clean Water to Batangtoru River

24 G-RESOURCES MARTABE Water Sustainability Keys to Water Management at Martabe Maximum Diversion Extensive Recycling Effective Containment Complete Treatment Controlled and Monitored Discharge Continuous Community Engagement

25 G-RESOURCES MARTABE Government Cooperation Approved Environmental and Social Impact Report (AMDAL) Approved Environmental Management Plan (RKL) Approved Environmental Monitoring Plan(RPL) Approved Closure Plan Approved Forestry Permit Approved Hazardous Waste Management Permit Water Use permit Clean water Discharge Permit Tailings Placement Permit One of the first in the country

G-RESOURCES MARTABE NGOs and Other Partners NGO and Academic Relationships

legal compliance Monthly Collaboration Meeting with Natural Resource

integrated with environment team University of North Sumatra quarterly site

26 G-RESOURCES MARTABE NGOs and Other Partners NGO and Academic Relationships External Relations staff is actively engaging NGOs to show efforts and legal compliance Monthly Collaboration Meeting with Natural Resource Conservation Agencies and Conservation NGO Member of regional NGO integrated with environment team University of North Sumatra quarterly site visits and aquatic biota monitoring International experts for aquatic biology and chemistry review

G-RESOURCES MARTABE Conclusion ESG Management will always be a foundation of Martabe Success Community employment shares the responsibility and benefits Community investment demonstrates commitment A

27 G-RESOURCES MARTABE Conclusion ESG Management will always be a foundation of Martabe Success Community employment shares the responsibility and benefits Community investment demonstrates commitment A participant in the community Communication meetings, Community events, and publications Maximise dialogue - Reduce misunderstanding Identify concerns before they become problems Proactive environmental management minimises the risk Water treatment and monitoring Government compliance and cooperation Outreach to NGOs and Universities

28 Managing ESG Risks in Asia

29 Thank You! For more information please contact: Loic Dujardin Director, Research Products Phone: Website: Amsterdam Bogota Boston Brussels Bucharest Copenhagen Frankfurt London New York City Paris San Francisco Singapore Timisoara Toronto 29

30 Disclaimer Copyright 2013 Sustainalytics. All rights reserved. No portion of this material may be reproduced in any form without the expressed, written permission of Sustainalytics. For further information contact: Sustainalytics 49 Club Street #02-01 Singapore Tel: (+65)

The materials used herein and this presentation (collectively, the Presentation ) have been prepared by PT Agincourt Resources (the Company ) solely

The materials used herein and this presentation (collectively, the Presentation ) have been prepared by PT Agincourt Resources (the Company ) solely for use at presentations to be held during August 2016.