MRL’s activities in the Esperance-Goldfields Region

10 March 2016

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Yilgarn Iron Ore Project - Current Production - extension projects – J4, J5 and Bungalbin East - Environmental approvals

Mt Marion Lithium Project

Company overview

MRL & the community

Outline of Yilgarn Operations

6 Disclaimer

2 KCGM Super pit processing and servicing contract

PHOTO

Innovative mining infrastructure

services provider

Unique value proposition

Selection of customers

High proportion of annuity earnings

Experienced management team & board

Founded in 1993, Mineral Resources (MRL) is a leading and highly innovative, full-service provider of mining infrastructure services in Australia

MRL provides innovative and low cost Pit to Port solutions across the mining infrastructure supply chain including mining, crushing, processing, materials handling and full support logistics in an efficient manner to add significant value for clients.

Equipment sales (transactional): x% of revenue 5 year service agreements (annuity): x% of revenue Leasing income (annuity): x% of revenue

Stable senior leadership team with a proven track record of safely delivering world class mineral processing and infrastructure solutions and creating shareholder value. Board & management own approx. 20% of Company

MRL operating brands

1H FY16 % of EBITDA

Mining Infrastructure Services 65%

Commodities business 35%

MRL overview

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Accommodation site at Phil’s Creek – Pilbara region

MRL locomotives in action - Yilgarn region

Nammuldi Below Water Table plant - Pilbara region

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Mining Infrastructure Services

Mining supply chain

• Remote, mine-site accommodation services

• Remote power services

• Aerodrome management / personnel transport

• Road & rail logistics from mine to port

• Owner of locomotives and customised wagons

• Road transport solutions

• Mine scheduling and grade control

• Mining operations and mine site haulage

• Dewatering

• Equipment hire

• Crushing and mineral processing

• Beneficiation services

• Mobile processing services

• Pipeline and water solutions

Current MRL

services

Site services Mining Plant /

Processing Transport

Port services

MRL delivers integrated infrastructure services across the mining supply chain

• Port logistics

• Ship loading

Sales

• Commodity sales & marketing

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Gold - Kalgoorlie

• KCGM Super pit contract

• Biggest open pit gold mine in Australia

• Long standing contract since early 2000s

• Crushing

• Processing

• Comprehensive contract

• Full range of support and ancillary services

Lithium - Mt Marion Project

• Joint venture between Neometals, MRL and Jiangxi Ganfeng Lithium Co Ltd.

• Development plans finalised – progressing as planned.

• MRL to build, own and operate the project on commercial terms with take or pay agreement

• Targeting Port of Esperance for export

• Significant contribution to Goldfields economy

Lithium – Mt Marion Project

Lithium- Mt Marion Project cont’d

• First production scheduled mid-2016

• Annual production in excess of 300k tonnes of high-value 4-6% product

• Total JORC compliant resource of 23.2Mt with a mine life of >10 years Resource

• Expansion drilling in progress expected to grow the available resource

Lithium – Mt Marion Project cont’d

Lithium – powering the 21st Century • High tech plant and processing operation with technology transfer to Kalgoorlie

• Element of choice for portable device batteries

• Growing utilisation in commercial and domestic ‘power walls’, vehicles

• Demand increasing with solid price projections

Lithium – powering the 21st Century

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Case Study - Yilgarn

• In March 2010, MRL purchased Polaris for c.$160m. MRL has spent an additional $150m in capital expenditure

• Mine life of >15 years (subject to approval of mining applications for J5 / Bungalbin East)

• MRL received approval from the Fremantle Port Authority in May 2011 to export up to 4.4Mtpa. MRL has driven efficiencies with a current export rate >5Mtpa

• First tonnes were exported in November 2011 (6 months after port approval was granted)

• Carina mine and processing infrastructure is located 100km north east of Southern Cross

• 572km from Kwinana and 495km from Esperance

Total Investment since March 2010

c.$310m

Total Revenue (from Nov 11 – Dec 15) >$1.6bill

Total annual EBITDA >$35m

Track record of investing in projects with strong returns on capital employed

Esperance Shipping Option

• MRL on way to Esperance

• In negotiations with Southern Ports Authority

• Esperance is closer to mine sites than Kwinana

• Esperance only Cape Size capable port in southern WA

• Cape Size equals reduced transport costs

• Esperance train visit for Acoustic testing carried out in December, 2015 – pictures are MRL train at the Port

• Scrupulous compliance with Approvals process and regulatory regime

• Approvals process could allow first ore this year

• Construction of twin bottom dumper/rail balloon loop

• Some train crews/support staff to be Esperance-based

Esperance Shipping Option

Yilgarn Iron Ore Extension Projects

• Development of satellite mines to leverage central processing facilities and mine at Carina

• Conclusion of mining at Carina mine site over next two years necessitating new mines

• J4 brought into production late last year

• J5 and Bungalbin East would allow 15-20 years of continued mining and export operations

• J5 and Bungalbin East being assessed by the EPA by way of a Public Environmental Review

• Scope of the PER is finalised with EPA

• PER scheduled for public release in FY 2016

Yilgarn Iron Ore Extension projects

Yilgarn Iron Ore Extension

Yilgarn Iron Ore Extension - Environment

• Mining will only ever occupy a small fraction of Yilgarn ranges but MRL understand that some ranges are important areas of biodiversity

• Total pit area is very small, being about 3.8 sq km in total for Carina, J4, J5 and Bungalbin East, once all mining is complete

• Infrastructure located away from ridges where possible

• Biodiversity research partnership with Curtin University to better understand the preferred habitat for threatened and priority flora species in the Helena and Aurora Ranges

• Further investment in the successful Australian Research Council (ARC) funded project to develop a training centre for mining rehabilitation

• Other research into plant genetic diversity

Local engagement • MRL insists on being a good corporate citizen, recognising that a

long-term commitment is required to make a sustainable and

positive difference to the people of WA

• Mt Marion construction - Kalgoorlie businesses boosted

• Carina, J4 – many local contractors and businesses involved

• At Carina, direct ongoing employment of 265 people plus a construction workforce of

70 people for each new mine

• Additional indirect employment in the many 100s through multipliers

• 7 locomotive drivers currently based in Merredin

• Local Sponsorship in Yilgarn

• Yilgarn Bowling Club

• 2015 King of the Cross motocross event

• Yilgarn Agricultural Show

• 3 year sponsorship agreements to support many not-for-profit

organisations in Western Australia

Local Engagement

MINING SERVICES BUSINESS

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Nammuldi Below Water Table process plant - Pilbara region

Any Questions?

Disclaimer

This presentation has been prepared by Mineral Resources Limited (“MRL” or “the Company”).It should not be considered as an offer or

invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation 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 contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of

future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from

those expressed or implied.

You should not act or refrain from acting in reliance on this presentation material. This overview of MRL does not purport to be all inclusive

or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You

should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of

the information, statements and opinions contained in this presentation before making any investment decision.

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