19 November 2013

The Manager Company Announcements Office ASX Limited PO Box H224 Australia Square SYDNEY NSW 2000

Dear Sir/Madam,

MD’s PRESENTATION TO ANNUAL GENERAL MEETING

Please find attached a copy of the presentation to be given by Saracen Mineral Holdings Limited’s Managing Director, Raleigh Finlayson, at today’s Annual General Meeting.

Yours sincerely

G F Kaczmarek Company Secretary

Saracen Mineral Holdings Ltd

ACN 009 215 347 Level 4, 89 St Georges Terrace

Perth, WA 6000 Australia

Telephone (61 8) 6229 9100 Facsimile (61 8) 6229 9199

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RALEIGH FINLAYSON : MANAGING DIRECTOR

ASX GOLD PRODUCER AGM 2013

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Qualification This is a presentation about geology, geoscientific interpretation, geoscientific speculation, gold deposits, gold potential, engineering, infrastructure, potential values, costs, risks, and related matters pertinent to Saracen’s present and future activities as a publicly listed mineral exploration and production company. It includes forecasts, predictions, targets and estimates of future expenditures which may vary over time. Exploration targets presented and discussed here are conceptual in nature and there has been insufficient exploration to define a Mineral Resource (“Resource”) or Ore Reserve (“Reserve”). It is uncertain if further exploration will result in the determination of a Resource or Reserve. Where exploration, evaluation, operational and feasibility study expenditure estimates and budgets amounts are presented herein, ongoing prioritisation and scaling of expenditures will be subject to results and, where applicable, scheduling changes. Targeted production and other outcomes are subject to change, and may not eventuate, depending on the results of ongoing performance and assessment of data. All Reserves and Resources as referred to herein are in accordance with JORC. Refer to the second last slide of this presentation for the relevant Competent Person statements. Resources are inclusive of Reserves. Some of the comments, forecasts, targeted outcomes and predictions made, or that might be interpreted from the comments herein, are subjective and speculative, in part because such is the very nature of gold exploration and exploitation, and in part also because geoscientists and engineers can be very optimistic about the future of the exploration and other work programs they are involved in. Such optimism can lead to erroneous judgments as to future results and valuations, and in many cases external factors may change the outcome. Take care to question and carefully evaluate any judgments you might make, on the basis of this presentation, as to the value of Saracen and its securities. This presentation is not intended to provide the sole or principal basis of any investment or credit decision or any other risk evaluation and may not be considered as a recommendation by Saracen or its officers. Any investor reading this presentation should determine its interest in acquiring securities in Saracen on the basis of independent investigations that it considers necessary, prudent or desirable. Saracen and its officers do not accept any liability for any loss or damage suffered or incurred by any investor or any other person or entity however caused (including negligence) relating in any way to this presentation including, without limitation, the information contained in it, any errors or omissions however caused by any other person or entity placing any reliance on this presentation, its accuracy or reliability. This presentation should not be construed as an offer or mooted offer in relation to Saracen securities. United States This document may not be released or distributed in the United States. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Any securities described in this document have not been, and will not be, registered under the US Securities Act of 1933 (as amended) and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.

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Corporate Structure CAPITAL STRUCTURE

ASX Code SAR

Shares on Issue 595m

Share Price at 12/11/13 A$0.22

Liquidity (Daily turnover) 4.1m

Market Cap A$131m

Cash & Bullion A$27.6m

Debt at 30/09/13 A$22.0m

Net Cash at 30/09/13 A$5.6m

Enterprise Value at 30/09/13 A$125m

Tax Benefits +A$60m

Hedging 159,050oz @ A$1,687/oz

Hedge Value assuming A$1,426/oz A$31.4m

BO

ARD

Guido Staltari Non-Exec Chairman

Raleigh Finlayson Managing Director

Barrie Parker Non-Exec Director

Martin Reed Non-Exec Director

Samantha Tough Non-Exec Director

Geoff Clifford Non-Exec Director

MG

MT Gerry Kaczmarek CFO

Craig Bradshaw COO

KEY METRICS

Reserves 0.9 Moz

Resources 3.9 Moz

EV / Reserves A$145/oz

EV / Resources A$32/oz

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Shareholders & Broker Coverage SHAREHOLDERS

Van Eck Global 8.1%

Paradice Investments 7.4%

Vinva Investments Mgt 5.1%

Timpetra Resources (ASX:TPR) 5.0%

BROKER COVERAGE - Analysts

Evans & Partners :- Cathy Moises

Canaccord Genuity :- Gary Watson

Ord Minnett :- David Brennan

Euroz :- Andrew Clayton

Phillip Capital :- Andrew Shearer

RBS Morgans :- James Wilson

Merrill Lynch BoA :- Stephen Gorenstein

Argonaut :- Adam Miethke

Baillieu Holst :- Sophie Spartalis

Source: Orient Capital

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Key Assets:

KALGOORLIE

Red October: • High Grade Underground Mine • 48koz planned for FY2014 • “All in” costs sub A$1,200/oz • Cash Costs sub A$900/oz • Located in a World Class Region • Significant exploration program

recently commenced aimed at doubling mine life

Carosue Dam: • 2.4mtpa modern Processing Facility • Potential to upgrade plant to 3.2mtpa • Base load feed from Whirling Dervish

containing 273koz of ore reserves • Capital Pre-strip 100% complete • Conservative reserve factors applied • Open pit mill feed for next 3 years • Significant exploration upside potential

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Headline goes here FY2013 Production

FY2013 Gold Production

Deep South Open Pit FY2013 Reconciliation

Karari Open Pit FY2013 Reconciliation

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Headline goes here FY2013 Red October Production

• The Red October Mine delivered 109,000t of ore at an average grade of 8.4g/t for 29,610 ozs in FY2013 • Production forecast to ramp up to 300,000t of ore at an average grade of 5.0g/t for 48,000 ozs in FY2014

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Headline goes here FY2013 Production & Costs

Through numerous actions resulting from the Strategic Review undertaken during the year, the operations have achieved a 40% reduction in cash costs per ounce and a 30% reduction in “all-in” sustaining cash costs per ounce, through a combination of lower costs and increased gold production.

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FY2013 Share Price Performance

Source: Commsec

ASX:SAR

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Headline goes here Last 5 Qtr’s Production & Costs

30.4koz 32.0koz 36.4koz 37.3koz

41.2koz

$1,363

$1,201

$968

$824

$653

$1,733

$1,607

$1,356

$1,208 $1,111

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

Sep 12 Qtr Dec 12 Qtr Mar 13 Qtr Jun 13 Qtr

A$/o

z

A$m

Revenue (A$m) Cash Costs (A$m)

Sustaining Capital (A$m) Growth Capital (A$m)

Production (koz) Cash Costs (A$/oz)

"All in" Sustaining Cash Costs (A$/oz)

Sep 13 Qtr

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FY2014 Share Price Performance

ASX:SAR

Source: Commsec For

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Headline goes here Saracen’s Vision – 5 Point Plan

Our Vision – “$60m Free cash flow by FY2015”

Advance Existing Operations

Pursue M&A Opportunities

Advance Exploration

Program

Manage Active Hedging Strategy

Project Development

Pipeline

Our 5 year plan – Focus on FCF generation

Delivered in an economically disciplined, safe and environmentally responsible manner For

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Headline goes here Saracen’s Vision – 5 Point Plan

Our Vision – “$60m Free cash flow by FY2015”

Advance Existing Operations

Pursue M&A Opportunities

Advance Exploration

Program

Manage Active Hedging Strategy

Project Development

Pipeline

Our 5 year plan – Focus on FCF generation

Delivered in an economically disciplined, safe and environmentally responsible manner For

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Headline goes here Guidance Cashflows

Only includes Reserves. Red October not currently factored into FY2015. See Appendix for cost definitions.

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Headline goes here Whirling Dervish F

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Headline goes here Whirling Dervish – Cross Section F

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Headline goes here Red October F

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Headline goes here Red October - Longsection F

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Headline goes here Guidance FY2014 & FY2015

Only includes Reserves. Red October not currently factored into FY2015. See Appendix for cost definitions.

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Headline goes here Global Hedging since 1990 F

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Headline goes here Pick a Gold Price… Saracen has the Strategy 5 YEAR GOLD PRICE IN AUD/oz

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Headline goes here Saracen’s Vision – 5 Point Plan

Our Vision – “$60m Free cash flow by FY2015”

Advance Existing Operations

Pursue M&A Opportunities

Advance Exploration

Program

Manage Active Hedging Strategy

Project Development

Pipeline

Our 5 year plan – Focus on FCF generation

Delivered in an economically disciplined, safe and environmentally responsible manner For

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> 6 years of mine life

Deep South Underground Probable Reserves 936,000t @ 4.0g/t

120,000oz

18m @ 7.4g/t

Saracen Mineral Holdings Hawthorn Resources

6m @ 12.2g/t

• 2013 Reserves update based on A$1,400/oz gold price (2012: A$1,500/oz) • Over 6 years of mine life, with hedging protection at an average price of

A$1,687/oz for the first three years (FY2014 – FY2016) • Significant upside potential at key projects including Karari, Whirling Dervish,

Blue Manna (not yet in reserves), Deep South and Red October

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Exploration - Karari

26m @ 7.5g/t

9m @ 6.7g/t

16m @ 5.1g/t

Stage 1 Exploration Target

Stage 2 Exploration

Target

Mined Cutback

11m @ 5.0g/t

13m @ 5.0g/t

13m @ 7.9g/t

Currently being drilled and/or results pending/being validated

70m @ 2.0g/t (down dip)

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Headline goes here Karari – Whirling Dervish Trend

13m @ 5.0g/t 13m @ 7.9g/t

2.4mtpa Processing Plant (offset to trend)

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Headline goes here Exploration – Blue Manna F

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Headline goes here Exploration – Blue Manna F

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Deep South - Longsection

Deep South Underground Probable Reserves 936,000t @ 4.0g/t

120,000oz

18m @ 7.4g/t

Saracen Mineral Holdings Hawthorn Resources

6m @ 12.2g/t

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Exp

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– W

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Cla

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OPEN

OPEN

OPEN

OPEN

12km Sunrise Dam Red October

Source: AngloGold Ashanti

Source: AngloGold Ashanti

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Headline goes here Hedgebook Value and M&A

M&A Opportunities LESS MORE

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Summary LAST 3 MONTHS SHARE PRICE PERFORMANCE

60%

7%4%0%

(4%)(4%)(5%)(8%)

9%6%

(7%)(12%)(15%)

(27%)

(1%)(6%)

28%23%

10%3%

(7%)(9%)

(7%)1%

Saracen

DorayNorton

RegisSilver LakeEvolution

Northern StarFocus

PapillonTeranga

EndeavourPMI

ResolutePerseus

KingsroseMedusa

BeadellAlacer

OceanagoldTroy

KingsgateSt Barbara

S&P/TSX Global Gold IndexGold (US$/oz)

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Record Gold Production of 136,168 oz (FY2013)

Produced Operations 1 millionth ounce

40% reduction in cash costs (FY2013)

30% reduction in “all-in” sustaining costs (FY2013)

Entered into gold hedging facility of 200,000 oz at an average price of A$1,695/oz

Rising hedge price profile (up to A$1,750/oz in July 2016)

Falling cost profile (down to A$950/oz aisc in FY2015)

5 point plan to deliver long-term success to Saracen Shareholders:

1. Advance Existing Operations 2. Manage Active Hedging Strategy 3. Project Development Pipeline 4. Advance Exploration Program 5. Pursue M&A Opportunities F

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Summary

Source: Argonaut

$0.53/sh or A$314m EV on peer average FCF margin

Over valued

Under valued

Free Cashflow Margin v Peers September Quarter 2013:

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Headline goes here Appendix – Cash Cost definitions F

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Headline goes here Appendix – Resources Statement F

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Headline goes here Appendix – Reserves Statement F

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Headline goes here Appendix – Competent Person Statement F

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Appendix - Trading Multiples

Evolution

St Barbara

Regis

Endeavour

Resolute

Oceanagold

Beadell

Silver Lake

Kingsgate

Teranga

Perseus

Alacer

Norton

Saracen

Medusa

Northern Star

Troy

DorayKingsrose

0

20

40

60

80

100

120

140

160

180

200

220

240

260

200 300 400 500 600 700 800 900 1,000 1,100

EV/Resource (A$/oz Au)

FY15 Cash Cost (US$/oz)

340

320

Saracen(FY13A)

Source: Lazard

(2)

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