© 2016 Katanga Mining Limited Trading symbol: KAT.TO

Investors PresentationMay 13, 2016

This presentation may contain forward-looking statements, including, but not limited to, the suspension of copper and cobalt processing, , investigations into and remediation efforts related to the March 2016

geotechnical failure at KOV Open Pit, the impact of newly acquired or commissioned equipment on operations, , the improvements related to the WOL Project, the impact of the shift in focus towards waste

mining during the suspension of production, the expectation of resumption of production and the impact of the timing thereof, initiatives to be undertaken during the suspension of production and the overall

expected improvement of recoveries and grades. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected",

"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events

or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in

these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions

listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have

been made in connection with the forward-looking statements include the following: the operations of the Company during the production suspension and timeline for the recommencement of operations

remaining consistent with management’s expectations, there being no significant disruptions affecting the operations of the Company whether due to labour disruptions, supply disruptions, power disruptions,

rollout of new equipment, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at the Project being consistent with the Company's current expectations;

continued recognition of the Company’s mining concessions and other assets, rights, titles and interests in the DRC; political and legal developments in the DRC being consistent with its current expectations;

the continued provision or procurement of additional funding from Glencore for operations, the completion of the T17 Underground Mine, the WOL Project and the Power Project; the successful completion of,

and realizing the intended benefits from the WOL Project and the Power Project; new equipment performs to expectations; the successful development of the T17 Underground Mine; the exchange rate

between the US dollar, South African rand, British pounds, Canadian dollar, Swiss franc, Congolese franc and Euro being approximately consistent with current levels; certain price assumptions for copper and

cobalt; prices for diesel, natural gas, fuel oil, electricity and other key supplies being approximately consistent with current levels; production and cost of sales forecasts for the Company meeting expectations;

the accuracy of the current ore reserve and mineral resource estimates of the Company (including but not limited to ore tonnage and ore grade estimates); and labour and material costs increasing on a basis

consistent with the Company's current expectations.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially

different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the actual results of

current exploration activities; actual results and interpretation of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices

of copper and cobalt; possible variations in ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry;

delays in obtaining governmental approvals or financing or in the completion of exploration, development or construction activities, delays due to strikes or other work stoppage, both internal and external to

the Company as well as those factors disclosed in the Company's current annual information form and other publicly filed documents. Although Katanga has attempted to identify important factors that could

cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated,

estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such

statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable

securities laws.

Tim Henderson, Technical Consultant to the Company, is the ‘Qualified Person’, as defined in National Instrument 43-101, who approved the scientific and technical disclosure in this presentation. The

Company filed its technical report entitled “An Independent Technical Report on the Material Assets of Katanga Mining Limited, Katanga Province, Democratic Republic of Congo” dated March 30, 2012.

Cautionary Statement: Forward-looking Statements

2

Agenda

Health and Safety Update

KOV Geotechnical Failure

Asset Base – General Information & Mining and Processing Assets

2015 Operations Overview

Activities during Suspension Period

Labour Reduction Process

Production – KOV Open Pit & Kamoto Underground Mine (KTO)

Kamoto Concentrator (KTC)

Luilu Metallurgical Plant / Refinery

2015 Financial Overview

WOL Project Summary

Processing Flowsheet – Oxide Flotation vs WOL

DRC Power Project

Social Investments3

Health & Safety Update

Health and Safety Initiatives for 2016

– Completion and implementation of stage 2 of Fatal Hazard protocols

– Completion of top 10 Catastrophic Hazard Management Plans

– Continued risk assessment audits, practical training and verification of

implemented actions

4

3,20 3,40

2,33

0,54 0,59

0,40

0,18 0,16

0,00

1,00

2,00

3,00

4,00

0.0

2.0

4.0

6.0

8.0

2009 2010 2011 2012 2013 2014 2015 2016YTD

LTIFR# of

Fatalities

KCC Safety Performance - Fatalities and LTIFR 1,000,000 Man Hours

FATALITY LTIFR

KOV Geotechnical Failure

5

Geotechnical failure on KOV north wall occurred at 05.59 on 8th March

Collapse involved approx 3.6 million tonnes of material

The collapse led to:

– 7 persons working in the vicinity initially unaccounted for;

– 5 persons subsequently recovered; and

– Extensive damage to the dewatering infrastructure

Shift from search and rescue to search and recovery operation on 17th March

Investigation ongoing to determine cause of incident and the related costs that may

arise, as well as any potential insurance claim

6

Asset Base – General Information

Integrated single-site operation

High grade ore deposits with 207.3Mt Measured and Indicated

resource at an estimated grade of 3.53%Cu and 0.52%Co(1)

75% / 25% joint venture with state-owned Gécamines

New infrastructure installed:

– New solvent extraction plants, mill (CM5), electrowinning

(“EW”) tankhouses, EW flotation circuits, concentrate

receiving areas and CCDs, roaster, lime preparation and

storage plant and diesel co-gen plants

– Whole Ore Leach Project (WOL Project) has commenced

Significant new mining fleet added in 2015

(1) As of December 31, 2015

77

20 km

3. KOV open pit

mine

1. Luilu Met. Plant / SX-EW refinery

A. Mashamba East (O/P) B. T-17 Musonoi (O/P & U/G)

C. Kananga (O/P) D. Tilwezembe (O/P)

Approximately 5 km

A

D

B

C

G

1

23

4

2. Kamoto

Concentrator

4. Kamotoundergroundmine

Asset Base – Mining and Processing Assets

8

2015 Operations Overview

The WOL Project was approved and construction commenced in May 2015:

– Detailed engineering design was done on the pre leach, leach and post leach circuits

– Satisfactory progress was made on the earth and civil works

Copper and cobalt processing suspended in September

Cobalt metal produced for 2015 totalled 2,901 tonnes, a 4% increase over 2014

Waste mined in 2015 was 23.9% higher than in 2014 due to the commissioning of new

mining fleet and increased mining equipment productivities

Copper metal produced for 2015 totalled 106,816 tonnes, a 32% decrease over 2014

New mining fleet, a conveyor system at the Kamoto concentrator and a concentrate

transfer line were commissioned

Activities during Suspension Period

9

Area Operations during shutdown

Projects • WOL

• KOV dewatering project

KOV • Waste stripping (60 mio tonnes of material during suspension period)

• Dewatering (water kept below 1170 level)

• Essential maintenance in pit and at mining fleet workshop

KTO & T17 • Dewatering

• Essential maintenance & housekeeping

• Essential reconditioning (1 crew) to maintain access for critical areas

KTC & Luilu • Essential maintenance & housekeeping

Technical Services • Drilling & mine planning

• Geology/hydrology and surveying

• Essential lab activities (grade monitoring and environmental)

Engineering • Staff transport & essential road maintenance

• Energy

• Central maintenance planning

HSEC & Security • Enhanced operations

Other departments • Normal operations, but scaled back appropriately to reflect activity levels

Labour Reduction Process

Significant expatriate headcount reductions immediately following production suspension

Agreed with unions a ‘free’ (voluntary) departure package for National employees

10 day window for voluntary departures took place in mid November

Originally targeted a 20% reduction in National headcount. Obtained 24% entirely through

voluntary program

Volunteers all left the Company by end of November

Headcount

Aug - 2015 Dec - 2015

DRC Nationals 5,190 3,912

Expatriates 214 97

Total 5,404 4,009

10

11

Production – KOV Open Pit

2015 KOV production profile reflects the suspension of operations in September 2015 and the

subsequent shift in focus towards waste mining

4,546,585 tonnes of ore mined during 2015, a decrease of 15.5% compared to 2014 production

Waste mined was 34,723,636 tonnes, an increase of 11.1% compared to 2014

Copper grade for 2015 averaged 3.93% (2014: 4.10%)

In 2015, the Company

commissioned:

– One Caterpillar 6030 Backhoe

Excavator

– Five Caterpillar 793D haul

trucks

– Two Caterpillar D11 dozers0,00

1,00

2,00

3,00

4,00

5,00

-

2 000 000

4 000 000

6 000 000

8 000 000

10 000 000

12 000 000

14 000 000

Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415

Gra

de

%

Ton

nes

Pre stripping waste mined (tonnes) Production waste mined (tonnes)

Ore mined (tonnes) Copper grade (%)

Cobalt grade (%)

12

2015 KTO production profile reflects the suspension of operations in September 2015 and the

subsequent care and maintenance program

1,478,932 tonnes of ore mined in 2015, a decrease of 23.9% compared to 2014 production

Copper grade for 2015 averaged 3.22% (2014: 3.42%)

Production – Kamoto Underground Mine

(KTO)

In 2015, the Company

commissioned:

– Two Caterpillar R2900G

loaders

– One lube truck and six Atlas

Copco 282 Jumbos

– One Caterpillar AD45B haul

truck

– One fire detection system

and fire suppression system

on shaft 1 0,00

1,00

2,00

3,00

4,00

-

100 000

200 000

300 000

400 000

500 000

600 000

Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415

Gra

de

%

Ton

nes

Ore mined (tonnes) Waste mined (tonnes)

Copper grade (%) Cobalt grade (%)

KTC – Kamoto Concentrator

13

2015 KTC production profile reflects the suspension of operations in September 2015 and the

subsequent care and maintenance program

KTC milled 5,454,990 tonnes of ore, a 13.5% decrease compared to 2014

Concentrate produced totaled 859,647, a 5.1% decrease compared to 2014

In 2015, the Company commissioned:

– Conveyor system and installation of

a second concentrate transfer line

– Upgrade of Wemco cells, spray bars

and reagent addition system

– Improvements to the froth skimmers

and upgrade of cleaner bank cells in

the oxide flotation section

– New pumping station at Mupine

tailings facility

-

50 000

100 000

150 000

200 000

250 000

300 000

Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415

Ton

nes

Sulphide Concentrate Oxide Concentrate

Luilu Metallurgical Plant / Refinery

14

2015 Luilu production profile reflects the suspension of operations in September 2015 and the

subsequent care and maintenance program

Luilu produced 106,816 tonnes of copper, a 32.0% decrease compared to 2014.

2,901 tonnes of cobalt were produced, a 4.2% increase compared to 2014

In 2015, the Company

commissioned:

– Upgrade to the existing

water filtration plant

– Enhancements to the

roaster for utilities, calcine

cooling and gas treatment

-

200

400

600

800

1 000

1 200

1 400

1 600

1 800

2 000

-

5 000

10 000

15 000

20 000

25 000

30 000

35 000

40 000

45 000

Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415

Ton

nes

Ton

nes

Copper produced Cobalt produced

15

2015 Financial Overview

Total sales for 2015 were $670 million, a 37.9% decrease over 2014

Net Loss Attributable to Equity Holders - US$424.1 million (2014: US$135.8 million

income)

Average realized price for copper cathode for 2015 of US$2.33/lb (2014: US$3.02/lb)

Average realized price for cobalt metal for 2015 of US$10.74/lb (2014: US$12.15/lb)

Total assets increased from US$5,045.6 million as at 31 December 2014 to

US$5,778.7 million as at 31 December 2015

WOL Project Summary

16

Total project spend - $437 million

300,000 tonnes of Copper per Annum

~22,000 tonnes of Cobalt per Annum

Project start up – H2 2017

Completed test work shows:

– Overall Copper recovery 82 %

– Sulphide Copper recovery 76 %

– Oxide Copper recovery 85 %

– Gangue acid consumption 65 kg/t

Plant flexible to sulphide / oxide ratio

All existing plant infrastructure used as part of WOL process

17

Oxide ore

Preflotation

KTC plant

Stockpile

Mixed ore

milling

Oxide

flotation Final

tailings

Sulphide concentrate

Oxide concentrate

Roasting

Luilu plant

Leaching Cu

cathode

Oxide concentrate circuit

requires multiple reagent

points

Preflotation

KTC plant

Stockpile

Mixed ore

milling

Sulphide

concentrateRoasting

Luilu plant

Leaching

Oxide material requires only

1 reagent at 1 point - Acid

Curr

en

t p

roce

ssin

g flo

wsh

ee

tW

OL p

rocessin

g flo

wsh

ee

t

Cu

cathode

SX

EW

SX

EW

Processing Flowsheet – Oxide Flotation vs

WOL

DRC Power Project

18

Description

– 450 MW for Kamoto Copper Company and partners

– 350 MW of new power and 1000 MW transmission from INGA to

Kolwezi

– Project cost - $368M

– Structured as an interest bearing loan to SNEL

– Reimbursed via 40% credit to power bills

– Additional 10% withheld for maintenance fund

– Excess MW available to the population

Power Milestones

– 26 MW (Nzilo 4th turbine) Q2 2015

– 162 MW (G-27) Q2 2016

– 162 MW (G-28) Q1 2018

Project Status

– Mutanda power line 100% complete – River crossing completed

– $312M spent as at March 2016

– All contracts signed (turbines, convertors, synchronous condenser

and peripheral equipment)

INGA 2

G-27 Stator

Social Investments

19

Health

– Malaria vector control (indoor and outdoor

spray in communities and installations)

– Support to Dilala health zone (vaccinations

campaigns and awareness campaigns for

blood donation)

– Support to PNMLS (national program on

HIV; awareness activities and training of peer

educators for communities and medical

facilities)

– Support to Mwangeji hospital (donation of

beds, microwaves and small fridges,

renovation of facilities)

Education

– Support to faculty of agronomy at the

University of Kolwezi

– Summer camp for 1,500 children living in

communities

– Organization of safety conferences at the

Technical Institute of Applied Sciences

Social Investments (cont.)

20

Infrastructure

– Cleaning campaign (focus on main roads

and drains in Kolwezi)

– Drilling of two boreholes in the community of

Luilu

– Inauguration of the University of Kolwezi

Community development

– Support of 49 local cooperatives on

agriculture, livestock, fish farming, bee

keeping nursery and non-agricultural based

activities (welding, carpentry, bakery and

restoration)

– Collaboration with Mwangeji hospital for

people living with HIV (income-generating

activities)

21

Q&A and Contacts

Tel: +41 41 766 71 10

Fax: +41 41 766 71 18

Contact Details

Email: info@katangamining.com

Website: www.katangamining.com