Highlights - 2Q19

• Quarterly gold production increased 2.7% vs. 1Q19 due to higher ore grade and higher recovery rate resulting from increased irrigation at the pads; offset by lower volume of ore deposited and processed due to delay in construction of additional leaching pad.

• Gold production slightly increased driven by higher ore grade vs 2Q18; offset by slower overall speed of recovery as described in prior quarter. Similarly, 1H gold production decreased 2.6% vs. 1H18 due to slower overall speed of recovery resulting from higher level of the leaching pads, which increased residence time of solution in the pads; mitigated by higher ore grade from increased production at 2nd line of the Dynamic Leaching Plant.

• Construction of the 13th leaching pad delayed by at least 6 months due to longer than anticipated permitting process that in turn affected coordination of the subsequent activities. Leaching pad now expected to be concluded in early 3Q19 and irrigation will commence in late July. However, given the two to three months irrigation cycle, gold production is expected to be affected in 2H19, therefore Group’s gold guidance has been decreased.

• As previously disclosed, the number of components to which stripping costs are allocated were reduced from two to one in 2H18. This change resulted in recognising the entirety of the stripping cost in the income statement as opposed to partially capitalising it. This will have an adverse effect half on half as the total volume hauled in 1H18 was 67.7 million tonnes but only 39.1 million tonnes were expensed; while the total volume hauled in 1H19 of 61.2 million tonnes will be taken to costs in 1H19. This increase impacted adjusted production costs by an additional US$46 million.
  

• Expected gold ore grade in 2019 remains at 0.70-0.75 g/t.
  
  

2018 - Summary

• The second line at the DLP was commissioned at the end of 2018

• 102,592 metres of exploration drilling to strengthen metrics for the Centauro Pit expansion

• Tests undertaken on the leaching pads confirmed additional gold content, resulting in an increase of 98.9 thousand ounces of gold as at 1 January 2018

• The increase in resources/reserves led to a new pit design, resulting in the need to change from 2 to 1 components, resulting in an effect on costs
  

• Pilot project to evaluate the use of dual fuel systems for haulage equipment
  
  
• Installation of vibrating screens at the DLP Phase I
  
  

Performance Targets - 2019