PROACTIVE PRESENTATION. ROBERT MONRO Head of Business Development September 2018

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1 PROACTIVE PRESENTATION ROBERT MONRO Head of Business Development September 2018

2 OUR HISTORY Hummingbird is an emerging +100,000oz gold producer having successfully built, commissioned and completed ramp up on its high grade Yanfolila Gold Project in Mali.

3 A COMPELLING INVESTMENT IN THE GOLD SECTOR HUMMINGBIRD RESOURCES Hummingbird is an emerging + 100,000oz gold producer having successfully built, commissioned and completed ramp up on its high grade Yanfolila Gold Project in Mali YANFOLILA Project built on time & on budget 6.4M OZ 6.4Moz gold inventory in West Africa K OZ koz 2018 guidance ~4,000km 2 of exploration ground in Mali and Liberia HIGH GRADE High grade, low cost operator AIM LISTED Current SP 27p* Market Cap 93.9m* *as at 19 Sep

4 STRATEGIC FRAMEWORK TO DELIVER VALUE & GROWTH HIGH MARGIN GOLD COMPANY FOCUSED ON SHAREHOLDER VALUE GROW VALUE Cash flow generation Capital allocation discipline Balance sheet strength PRODUCE Koz 2018 guidance High margin production EXPLORE Disciplined investment in brownfield and greenfield targets Conversion of Resources to Reserves M&A opportunities will be considered to fast track growth DEVELOP Proven on time and on budget developers 4

5 PROGRESSION TO FULL SCALE PRODUCTION COMMERCIAL PRODUCTION COMMENCED 1 APRIL 2018 GOLD POURED (OUNCES) GOLD SALES (OUNCES) Q1: 18,785 Q2: 33,101 Q1: 11,941 Q2: 38,726 ORE PROCESSED (TONNES) AISC (US$ / OUNCE) Q1: 238,628 Q2: 287,605 Q1: (RAMP UP) Q2: 790 AVG. GRADE MILL FEED (G/T) AVG. GOLD PRICE (US$ / OUNCE) Q1: 2.96 Q2: 3.43 Q1: 1,332 Q2: 1, ,000 LTI-FREE HOURS achieved Q % WOMEN PLANT OPERATORS 95% LOCAL WORKFORCE 5

6 KOMANA EAST & WEST RESERVES & RESOURCES PRINCIPAL PITS IN THE CURRENT MINE PLAN CURRENT GOLD INVENTORY Category Tonnes (t) Grade (g/t) Gold (oz) Probable Reserves 7,039, ,800 Total Inventory * 28,495, ,202,700 *Including non-jorc compliant figures KOMANA WEST PIT Resources: 2.44g/t Reserves: 3.06g/t KOMANA EAST PIT Resources: 3.03g/t Reserves: 3.18g/t 6

7 YANFOLILA MINE LIFE UPSIDE US$8M+ BUDGET (LIMITED TO 15% FCF) TARGETING LOM EXTENSIONS IN THE NEAR-TERM 1.5Moz of Indicated and Inferred Resources outside the current mine plan. Historical Resource to Reserves conversion rate of 55% 2018 Exploration Programme targeting +50,000m drilling at 6 deposits to convert additional 400,000oz to Reserves 1. Gonka: High grade Inferred deposit situated 5km from the plant 2. Komana East & West: Underground ( UG ) potential not currently in Reserves 3. Guirin West: Situated 2km from the plant with high grade oxide Resources 4. Sanioumale East & West: Currently only oxide ore in the mine plan EXCELLENT RECENT DRILL RESULTS: Komana West: 8.6g/t 2.95g/t Guirin West: 3.11g/t 8.12g/t For full results see RNS dated 19 Sep 2018 Guirin West 7

8 INTRODUCTION OF SECONDARY BALL MILL INCREASING PLANT THROUGHPUT TO FACILITATE ANTICIPATED RESERVE GROWTH Increase in the plant throughput to 1.4Mtpa from 1.24Mtpa based on a blend of ore types When operating at 100% fresh ore the throughput capacity will increase from 1Mtpa to 1.24Mtpa Second mill should be operational in Q and have a capex of circa. US$13m The preferential choice when considering the alternative option of installing a tertiary crusher, per the DFS SENET awarded EPCM contract to deliver the mill 8

9 CORA GOLD INVESTMENT HUMMINGBIRD HAS A 34% STAKE IN CORA GOLD (AIM: CORA) SANANKORO GOLD DISCOVERY potential for a 1Moz+ standalone mine development STAGE 1 DRILLING complete at Sanankoro gold discovery with exciting new targets identified and extremely encouraging highgrade gold intercepts RECENT DRILLING at Tekeledougou has produced two new gold zones with shallow, broad, highgrade gold intercepts, 8km from Yanfolila processing plant Sanankoro: 5.43g/t 5.24g/t Tekeledougou: 2.2g/t 6.8g/t 0.7g/t US$10M Historical expenditure by Gold Fields 9

10 DUGBE GOLD PROJECT: LIBERIA OPTIONALITY AND SCALE TO DRIVE PORTFOLIO GROWTH US$186M US$1,300 Au 29% I R R 4.2M OZ AU Liberia s largest gold deposit 70 km by road from Greenville deep water port PEA 2013 attractive economics at current gold prices 125,000 OZ AU Anticipated ounces per annum 20 YEAR Life of Mine 10

11 PEER COMPARISON UNDERVALUED AGAINST PEERS Broker Coverage Largest Shareholders A L I G N R E S E A R C H C A N A C C O R D C E N K O S M I R A B A U D W H I R E L A N D 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% Capital Gold Fields Odey Majedie Sustainable Capital Management Sloane Robinson $5,000 $4,500 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $- EV/Production 18E $300 $250 $200 $150 $100 $50 $- EV/Resources Source: Thomson Reuters and Canaccord Genuity Limited Note: prices as at 30 August

12 RESPONSIBLE MINING BUILDING A LASTING LEGACY MAKING A LASTING & SUSTAINABLE CONTRIBUTION TO THE SOCIAL, ENVIRONMENTAL AND ECONOMIC WELLBEING OF LOCAL COMMUNITIES IN MALI Fund salaries of 20 local teachers Established market gardens to create alternative livelihoods and generate an income for local women, with ability to employ 50+ people per garden Established a soap-making enterprise to benefit 10 local communities and 300 women Invested in initiatives to provide clean drinking water across villages local to Yanfolila Run on-going training programmes between UK-qualified doctors and local nurses on essential medical techniques, such as new-born resuscitation Built a brand new health centre in local village of Bougoudale, to benefit population of approx. 6K Established poultry projects across 4 villages, to contribute to youth employment and socio-economic development 12

13 SUMMARY PRODUCTION 2018 GUIDANCE OF KOZ HIGH GRADE, LOW COST, CASH GENERATIVE EXPANSION AT YANFOLILA EXPANSION FROM GONKA DEPOSIT POTENTIAL TO INCREASE PRODUCTION SIGNIFICANT LIFE OF MINE EXTENSION POTENTIAL EXPLORATION & DEVELOPMENT WIDER YANFOLILA ASSESSMENT AND DEVELOPMENT CORA GOLD PORTFOLIO 4.2MOZ DUGBE GOLD PROJECT LIBERIA CORPORATE GROWTH US$70 MILLION FREE CASH FLOW IN FIRST FULL YEAR OF US$1,250/OZ STRONG INSTITUTIONAL SHAREHOLDER BASE INCLUDING CAPITAL, ODEY, M&G AND MAJEDIE M&A GROWTH OPPORTUNITIES 13

14 +44 (0) Hummingbird Resources Plc Hummingbird Resources Plc 14