gulfDeveloping Premium Indonesian Manganese Ferro Alloy

Gulf Manganese Corporation Limited ASX: GMC

2016 Annual General Meeting Presentation

Managing Director – Hamish Bohannan

For

per

sona

l use

onl

y

Gulf Corporate Overview

Craig Munro - Chairman

Andrew Wilson - Director

Hamish Bohannan – MD & CEO

Leonard Math – CFO & CoSec GMC 12 Month Share Price Performance

For

per

sona

l use

onl

y

Strengthened Board with appointment of Hamish Bohannan as Managing Director, Craig Munro as Non-

Executive Chairman and Andrew Wilson as Director

Securing of an Indonesian high net worth investor to invest US$10 million for 10% equity in Gulf’s subsidiary PT

Gulf Mangan Grup – includes option to invest further US$10 million

Kupang site approvals received from the Governor of East Nusa Tenggara for the construction of a Manganese

Smelting Hub Facility in the Bolok Industrial Estate

Strategic agreement with South African-based Transalloys (Pty) Limited for the acquisition and relocation of two

ferromanganese smelting furnaces for US$1 million

Offtake agreement signed with Renova Group for the sale of up to 60% of manganese alloy produced from the

Kupang Smelting Hub Project from first three years of production

A Transformational Year – Execution of Key Milestones

For

per

sona

l use

onl

y

Gulf aims to build the first ferromanganese smelting complex in Timor, Indonesia

Completed Kupang Smelting Hub Facility to contain eight furnaces built in stages over five years, targeting the

production of a premium 78%+ manganese alloy

First two smelters have been sourced from South Africa and are expected to be commissioned by Q3 2017

At full production, Gulf will aim to purchase and process 320,000 tonnes of manganese ore per annum,

producing circa 155,000 tonnes of high carbon premium quality ferromanganese alloy per annum

Indonesia law does not allow for exporting of ‘untreated ore’ – therefore Gulf will enable local miners to realise

additional value through smelting process

An Overview of the Kupang Smelting Hub Facility

For

per

sona

l use

onl

y

Many high grade (48%+) manganese outcrops

exist in the islands of Indonesia and more

specifically in and around Timor

Cost of production 20% less than industry

average and allows for development of world-

class smelting facility even during current

economic conditions

Close proximity to key infrastructure – port,

power and available workforce

Gulf has been working closely with local miners

to secure supply agreements for high grade

manganese ore which will be suitable for direct

smelter feed

The Location – Why West Timor?

Gulf Board at the world class Kupang PortFor

per

sona

l use

onl

y

The Year In Review…

“A key focus for the new Board and management team this year has been on creating a clear pathway to

production, that allows new and existing Gulf shareholders to share in the Company’s vision of becoming a

near-term manganese alloy producer”

For

per

sona

l use

onl

y

Kupang Site Visit

For

per

sona

l use

onl

y

Kupang Airport – Connecting a Growing City to the World

For

per

sona

l use

onl

y

Kupang’s World Class Deepwater Port Facilities

For

per

sona

l use

onl

y

Securing of US$10M Cornerstone Investor Pak Marthen

For

per

sona

l use

onl

y

Strong Support from the Three Kings of Kabupaten

For

per

sona

l use

onl

y

Acquisition of Two Ferromanganese Smelting Furnaces

For

per

sona

l use

onl

y

Supportive Corporate Partnerships

For

per

sona

l use

onl

y

Looking Ahead to New Horizons

For

per

sona

l use

onl

y

2017 Development Timeline

Q1 2017

Commencement of Kupang site works program in preparation for commencement of construction phase

Refurbishment and shipping of smelters to Indonesia

Recruitment and training of local Kupang workforce

Q2 2017

Installation of initial two ferromanganese smelters from Pretoria at Kupang site

Main construction phase of Kupang Smelting Hub Facility

Q3 2017

Completion of construction and commissioning of Kupang Smelting Hub Facility

Q4 2017

Scheduled commencement of manganese alloy production

For

per

sona

l use

onl

y

Contact Gulf

Gulf Manganese Corporation Limited

T2, 152 Great Eastern Highway

Ascot WA 6104

Ph +618 9367 9228

Fax +618 9367 9229

E info@gulfmanganese.com

www.gulfmanganese.com

For

per

sona

l use

onl

y

This presentation has been prepared by Gulf Manganese Corporation Limited (Gulf) for the exclusive use of the party to whom Gulfdelivers it to.The presentation should not be regarded as a substitute for the exercise of their own judgement.

The valuations, forecasts, estimates, opinions and projections contained herein involve subjective judgment and analysis. Anyopinions expressed in the material may be subject to change. The presentation contains forward looking statements and anyestimates or projections are based upon the best judgement of Gulf and on currently available information.

The presentation has been prepared solely for informational purposes and should not be construed as an offer to buy or sell securities.The Recipient should not construe the contents of the matters presented as providing legal, tax, accounting or investment advice orrecommendation. The Recipient should consult their own counsel, tax and financial advisors as to any matters related to thepresentation. The presentation does not purport to be all inclusive or to contain all of the information that the Recipient may requireto evaluate Gulf. No investment, divestment or other financial decisions or actions should be based solely on the information in thispresentation.

The presentation has been prepared on a confidential basis for the use and benefit of the Recipient. Distribution to any other personother than the Recipient is not authorised and material should not be copied, reproduced, distributed or passed to others without theprior consent of Gulf.

Thank you.

Disclaimer

For

per

sona

l use

onl

y