One 2 Five Benchmarking Review

Gold sites

AFSL Disclaimer

The information contained in this presentation is for information purposes only and is not intended to be financial product or investment advice or a recommendation.

Energetics is authorised to provide financial product advice on derivatives to wholesale clients under the Corporations Act 2001 AFSL No: 329935.

In providing information and advice to you, we rely on the accuracy of information provided by you and your company. This presentation has been prepared without taking into account the objectives, financial situation or needs of any individual. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Statements made in this presentation are made as at the date of the presentation unless otherwise stated.

Past performance Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Future performance Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions.

Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Actual results, performance or achievements may vary materially for many projections because events and actual circumstances frequently do not occur as forecast and these differences can be material.

Sectors included in this data set

Mining Industry

• 201 diagnostic sessions

• Non-Ferrous includes Nickel, Copper, Zinc, Bauxite

• Other mining is Salt, Diamonds, Mineral sands

Coal54%

Gold9%

Iron Ore4%

Non-Ferrous21%

Other mining

6%

Uranium6%

Countries included in this data set

Gold Industry

• 19 diagnostic sessions

• 16 in Australia

• 3 in New Zealand

Mining Industry

• 201 diagnostic sessions

Australia, 153

Canada, 20

China, 1

Ireland, 1New Zealand, 3

Other, 9

United States of

America, 14

Companies included in this data set

Gold Industry

• 19 diagnostic sessions

• Includes Barrick, AngloGold Ashanti and Newmont

Mining Industry

• 201 diagnostic sessionsAnglo American

2%

Barrick7%

BHP Billiton12%

Rio Tinto15%

Xstrata29%

Cameco5%

MMG3%

Newmont2%

Other companies25%

Star ratingsGold Industry

• Max: 3

• Average: 2 stars

• Average achievement: 29.3%

• Significant improvement in scores

– Gold industry out performed the average in the industry

– No diagnostics after 2009

Mining Industry

• Max: 4

• Average: 2 stars

• Average achievement: 31.0%

-

0.50

1.00

1.50

2.00

2.50

to end 2005 2006-2008 2009-2010 post 2010

Gold Industry Mining Industry

Performance in elements: Gold Sector

0

1

2

3

4

5

Max in element

Min in element

Average in element

0

1

2

3

4

5

Max in element

Min in element

Average in element

Performance in elements: Gold Sector

Strong performance

0

1

2

3

4

5

Max in element

Min in element

Average in element

Performance in elements: Gold Sector

Room for improvement

Performance in elements: Industry

0

1

2

3

4

5

Max in element

Min in element

Average in element

Performance in elements: Industry

0

1

2

3

4

5

Max in element

Min in element

Average in element

Strong performance

Performance in elements: Industry

0

1

2

3

4

5

Max in element

Min in element

Average in element

Room for improvement

ObservationsWe could differentiate the performance of the gold sector as being lower than the global industry (though this is from a small data set)

• Average stars 1.84 vs 1.95

• Average achievement is 2% lower than the industry (29% vs 31%)

Areas where the gold industry excels are very similar to the global mining industry

– Notable high performance in Budgeting (Energy Operating Budgets, Criteria/Budgets for CAPEX and Purchasing Procedures)

Room for improvement in some different areas

– Gold: Leadership and Understanding Performance, also People and Procedures

– Mining industry: Leadership and Auditing and Decision Making

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0

Demonstrated corporate commitment

Understanding of performance and opportunities

Targets, performance indicators (KPI) and motivation

Plans

Accountabilities

Awareness and training

Resourcing

Criteria/Budgets for capital expenditure (CAPEX)

Energy operating budgets

Purchasing procedures and alternative energy options

Quality and reliability of supply

Optimising purchasing within supply agreement

Operating procedures

Maintenance procedures

Efficiency of existing plant design

Procedures - plant design/retrofit, purchasing/replacement

Innovation and new technology

Metering and monitoring

Reporting, feedback and control systems

Documentation and records

Energy cost performance in the past 12 months

Auditing progress

Mining Industry Gold Industry

Critical Actions

Note limited need for action in these areas

Areas of significant achievement

Gold Mining Industry

Require attention in less than 10% of diagnostics

Operating procedures

Efficiency of existing plant design

Energy operating budgets

Criteria/Budgets for capital expenditure (CAPEX)

Purchasing procedures and alternative energy options

Energy cost performance in the past 12 months

Innovation and new technology

Plans

Procedures - plant design/retrofit, purchasing/replacementMaintenance procedures

Demonstrated corporate commitmentResourcing

Metering and monitoring

Quality and reliability of supplyPurchasing procedures and alternative energy options

Areas most requiring attention

Gold Mining Industry

Require attention in more than 40% of diagnostics

Understanding of performance and opportunities

Targets, performance indicators (KPI) and motivation

Awareness and training

Reporting, feedback and control systemsAccountabilitiesAuditing progress

Optimising purchasing within supply agreement

Innovation and new technology

Awareness and training

Auditing progress

Energy operating budgets

Targets, performance indicators (KPI) and motivation

Accountabilities

Energy cost performance in the past 12 months

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