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1 alturamining.com ASX : AJM ANNUAL GENERAL MEETING PRESENTATION 27 November 2014

2 DISCLAIMER This presentation has been prepared by Altura Mining Limited ( Altura or the Company ). It should not be considered as an invitation or offer to subscribe for or purchase any securities in the Company or as an inducement to make an invitation or offer with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. This presentation is provided on the basis that none of Altura nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the presentation and nothing contained in the presentation is, or may be relied upon as, a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The presentation contains forward looking information and prospective financial material which is predictive in nature and may be affected by inaccurate assumptions or by known or unknown risks and uncertainties, and may differ materially from results ultimately achieved. All references to future production, production targets and resource targets and infrastructure access are subject to the completion of all necessary feasibility studies, permitting, construction, financing arrangements and infrastructure-related agreements. Where such a reference is made, it should be read subject to this paragraph and in conjunction with further information about the Mineral Resources and Exploration Results, as well as the Competent Persons' Statements. All persons should consider seeking appropriate professional advice in reviewing the presentation and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the presentation nor any information contained in the presentation or subsequently communicated to any person in connection with the presentation is, or should be taken as, constituting the giving of investment advice to any person. 2

3 PRESENTATION SUMMARY 1 Highlights Last Year 2 Iron Ore: Mt Webber 3 Coal: Delta Coal Tabalong Coal Singapore Newco 4 Development assets: Lithium Pilgangoora 5 Outlook for 2015 and beyond 3

4 1. HIGHLIGHTS PAST YEAR 4

5 ALTURA: HIGHLIGHTS PAST YEAR Iron Ore Mt Webber mine built 1H 2014 and commissioned on 5 July first ore sales July 2014 (1) Stage 2 (6Mtpa) production planned in Q Coal Delta Coal producing 1.4Mtpa rate of thermal coal from East Kalimantan Tabalong KM and MBM Operation Production approvals Lithium Search continues for an equity or offtake partner for the Pilgangoora Lithium Project Asset sale Sale of non-core asset Balline Garnet for A$4.5M 5 (1): Mt Webber subject to joint venture interests 30% Altura / 70% Atlas Iron

6 2. IRON ORE 6

7 MT WEBBER: A PATHWAY TO MARKET 7

8 MT WEBBER: COMMISSIONED 15 JULY 2014 Joint Venture 30% Altura, 70% Atlas Iron (AGO) Robust partnership formed Mt Webber delivered on time with sector leading capital efficiency First ore sales in Q commencing at 3Mtpa (Altura 900ktpa) 6Mtpa rate from Q (Altura share 1.8mtpa) 8

9 MT WEBBER: ORE PRICE December 2013 $133 (US$/dmt) November 2014 $70 (US$/dmt) Ore Price movements - July 14 US$96.30, August 14 US$88.50, September 14 US$78.60, October 14 US$79.70 and current US$69.20 (1) Current iron ore prices and operating costs result in negative cash flow to Altura Altura is reviewing its options with the project including consideration of divesting the asset 9 (1) Source The Steel Index 62% Fe CFR Qingdao Port US$/dmt

10 3. COAL 10

11 DELTA COAL 11 Samarinda Balikpapan Delta Coal

12 DELTA COAL: PRODUCTION Fully infrastructure integrated coal mine located in East Kalimantan, Indonesia commenced production in 2004 Altura ⅓ interest and plays lead role in technical management of the operation Currently producing at 1.4Mtpa rate of thermal coal 5,600 kcal air dried basis plan to increase to 2Mtpa with little capital input Competitive Average Life of Mine (LOM) operating cash cost of US$36.92/tonne FOB barge JORC Reserve and Resource update planned for Q / Q

13 DELTA COAL: MINE TO MARKET 13

14 For personal use only TABALONG COAL 14 1 Ownership 70% Altura and 30% PT UJI to form the Tabalong JV 2 Ownership 80% Tabalong JV and 20% Local partner

15 TABALONG COAL Five (5) IUPs covering 17,000 hectares located in South Kalimantan, Indonesia Tabalong JV - 70% Altura and 30% local partner Targeting high energy coals with exploration highlighting significant potential for PCI and metallurgical coal products. Aim to produce up to 1.5mtpa blend of thermal and metallurgical coals Consistent with company strategy low capital intensity, low operating cost and straightforward pathway to market via third party infrastructure. Operation Production status achieved for all five (5) IUPs All five (5) IUPs taken from Exploration to Operation Production In-principle Forestry Land Use Permit approval for SPK received in September 2014 Mine construction planned for 2015 Parallel approval for SCC substantially complete 15

16 SINGAPORE NEWCO Spin-out of Altura s coal assets into new Singapore company (Newco) 16 Altura and partners plan for consolidation of coal assets into new Singapore based vehicle Newco intends to list on SGX-ST Catalist, the Sponsor-supervised listing platform of the Singapore Exchange Securities Trading Limited ( SGX-ST ) New funds to be raised as part of the listing to allow for development of the Tabalong coal project in 2015, and to grow the new coal business Newco will have a new board and Altura will be a controlling shareholder (as defined by the SGX-ST) Altura s final shareholding in Newco will depend on the valuation of the coal assets and the ultimate capital raising Subject to the approval of the draft Offer Document by the SGX-ST, the IPO launch of Newco is proposed for early 2015 Consolidation of its coal assets into a separate coal focused entity will allow for recognition of Altura's investment in these Indonesian coal assets, build on the existing coal business and provide financial resources required for the development and further exploration of the Tabalong Coal project

17 4. PORTFOLIO DEVELOPMENT ASSETS 17

18 PILGANGOORA LITHIUM 18

19 ALTURA LITHIUM Pilgangoora, Western Australia (100% Altura) Globally significant hard rock Lithium (Spodumene) deposit. Shallow, thick and high grade lithium intercepts with consistent Li 2 0 grade JORC Mineral Resource estimate of 25.2 million 1.23% Li 2 0* Resource extendable Sufficient resource for 20yr plus mine life Contained Lithium 310,000 tonnes 17.3 Mt Indicated / 7.9 Mt Inferred with potential to add to resource 12 Spodumene-rich pegmatite dykes identified 19 *See Altura s ASX release of 3 October 2012 * Refer to Appendix for Resource Table and Competent Persons Statement

20 ALTURA LITHIUM Progressing to Pre-feasibility in H Potential high grading optimality's being reviewed with potential to mine at circa 1.8% Li 2 0 first 7 years of production Altura pursuing low capital option for convention dig, crush, grind, floatation circuit producing Chemical grade >6.5% Li Lithium concentrate for export to third party processing Consolidation in sector with Talison transacting at circa 16x EBITDA earnings. Strengthening concentrate prices highlight strategic value of Pilgangoora and compelling fundamentals of underlying Lithium market. Altura conducting process to attract offtake / strategic investment partner for project 20

21 5. OUTLOOK FOR 2015 AND BEYOND 21

22 OUTLOOK FOR 2015 AND BEYOND Iron Ore Altura reviewing its position including possible divestment of Mt Webber Coal business Singapore Newco listing in Q fully funded coal business with Altura as major shareholder Delta Coal annual production move to 2.00Mtpa during 2015 reduction in operating costs Tabalong Coal Secure Forestry Permit approval after satisfying in-principle approval requirements Tabalong Coal - Investment decision to proceed to production for SPK mining area Lithium PFS for Pilgangoora, pursuing further efficiencies reducing capex, high grade options Conduct process in conjunction with PFS to secure strategic investment partner to assist in progression of project 22

23 THANK YOU. QUESTIONS? 23

24 APPENDICES

25 PILGANGOORA MINERAL RESOURCES ESTIMATES Pilgangoora Li 2 O Resource October 2012 # Zone Resource Tonnes Li 2 O % Li 2 O tonnes C1, E1, N1 S1 Subtotal Indicated 14,992, ,783 Inferred 7,239, ,173 Indicated 2,295, ,374 Inferred 630, ,012 Indicated 17,287, ,157 Inferred 7,869, ,185 Total All Resources 25,157, ,342 The information in this table was prepared and first disclosed under the JORC Code It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. 25 # Based on 0.7% Li 2 O cut-off grade

26 COMPETENT PERSON STATEMENT Pilgangoora Western Australia The information in this presentation that relates to Exploration Results or Mineral Resources is based on information compiled by Bryan Bourke, who is a member of the Australian Institute of Geoscientists and a full-time employee of Altura Mining Limited. Bryan Bourke has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person in terms of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2004 Edition). Bryan Bourke consents to the inclusion of such information in this Report in the form and context in which it appears. This information was prepared and first disclosed under the JORC Code It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. 26