Annual General MeetingMay 16, 2016, Montreal

Forward Looking Information

2

This presentation contains "forward-looking information" within the meaning of Canadian securities legislation. This information and these statements, referred to herein as “forward-looking statements”, are made as of the date of this presentation and the Corporation doesnot intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. These forward-looking statements include, among others, statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimatesand intentions. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of Mineral Reserves, Mineral Resources and explorationtargets; (ii) the amount of future production over any period; (iii) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the March 2016 Updated Renard Mine Plan and Mineral ReserveEstimate; (iv) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the 2016 Updated Renard Mine Plan and Mineral Reserve Estimate; (v) mine expansion potential and expected mine life; (vi) the expected time frames for thecompletion of construction, start of mining and commercial production at the Renard Diamond Project and the financial obligations or costs incurred by Stornoway in connection with such mine development; (vii) the expected time frames for the completion of the open pitand underground mine at the Renard Diamond Project; (viii) future market prices for rough diamonds; and (ix) future market prices for liquefied natural gas and diesel. All statements, other than statements of historical fact regarding Stornoway or the Renard Diamond Project,are forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”,“anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “schedule” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative ofany of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are made based upon certain assumptions by Stornoway or its consultants and other important factors that, if untrue, could cause the actual results, performances or achievements of Stornoway to be materially different from future results,performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business prospects and strategies and the environment in which Stornoway will operate in the future,including the price of diamonds, anticipated costs and Stornoway’s ability to achieve its goals, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers its assumptions on such matters tobe reasonable based on information currently available to it, they may prove to be incorrect. Certain important assumptions by Stornoway or its consultants in making forward-looking statements include, but are not limited to: (i) required capital investment; (ii) the amount offuture production over any period; (iii) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the March 2016 Updated Renard Mine Plan and Mineral Reserve Estimate ; (iv) assumptions relatingto gross revenues, operating cash flow and other revenue metrics set out in the 2016 Updated Renard Mine Plan and Mineral Reserve Estimate ; (v) estimates of net present value; (vi) anticipated timelines for completion of construction, commencement of mine productionand development of an open pit and underground mine at the Renard Diamond Project, (vii) anticipated geological formations; (viii) Stornoway’s interpretation of the geological drill data collected and its potential impact on stated Mineral Resources, Mineral Reserves, andmine life; and (ix) Stornoway’s ability to draw on the financing elements of the Renard Diamond Project Financing Transactions closed on July 8th, 2014.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect futureexperience. We caution readers not to place undue reliance on these forward- looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptionsand intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, including the assumption in many forward-looking statements that other forward-lookingstatements will be correct, but specifically include, without limitation: (i) risks relating to variations in the grade, kimberlite lithologies and country rock content within the material identified as Mineral Resources from that predicted; (ii) variations in rates of recovery andbreakage; (iii) changes in development or mining plans due to changes in other factors or exploration results; (iv) slower increases in diamond valuations than assumed; (v) risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar; (vi)increases in the costs of proposed capital and operating expenditures; (vii) increases in financing costs or adverse changes to the terms of available financing, if any; (viii) tax rates or royalties being greater than assumed; (ix) risks relating to the receipt of regulatory approvals;and (x) the additional risks described in Stornoway's most recently filed Annual Information Form, annual and interim MD&A and Stornoway's anticipation of and success in managing the foregoing risks. Stornoway cautions that the foregoing list of factors that may affect futureresults is not exhaustive, and new, unforeseeable risks may arise from time to time.

Readers are referred to the technical report dated as of March 30, 2016 entitled “Updated Renard Diamond Project Mine Plan and Mineral Reserve Estimate, Québec, Canada” in respect of the March 2016 Updated Mine Plan and Mineral Reserve Estimate, and the technicalreport dated January 11, 2016 and press release dated September 24, 2015 in respect of the September 2015 Mineral Resource estimate for further details and assumptions relating to the project.

The Qualified Persons that prepared the technical reports and press releases that form the basis for the presentation are listed in the Company’s AIF dated March 30, 2016. Disclosure of a scientific or technical nature in this presentation was prepared under the supervision ofPatrick Godin, P.Eng. (Québec), Chief Operating Officer and Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration, both “qualified persons” under NI 43-101. Darrell Farrow, PrSciNat, P.Geo.(BC), Ordre des geologues du Quebec (Special Authorisation # 332) of GeoStratConsulting Services Inc. is the independent Qualified Person responsible for preparation of the mineral resource estimate for the Renard Diamond Project. GeoStrat Consulting Services Inc, a mineral resources consultancy, focuses on client interaction and involvement indeveloping resource models, and has experience in exploration, geological modeling, resource evaluation, production, resource reconciliation and accounting of diamond deposits around the globe. GeoStrat has verified the results disclosed herein with respect to the mineralresources, and has conducted appropriate verification on the underlying data, including visitations to the Renard site and the primary process laboratories.

From the 2015 AGM

3

43

Renard: Québec’s Next Major Mine

Fourteen years in the making

Diamonds

Demand underpinned by gifting traditions that

are universal, aspirational and cross-cultural…

…but mined: supply is limited and finite

Stornoway

Focus on budget, schedule, operating

excellence, cash flow

Stornoway Diamond Corporation (TSX: SWY)Our Priorities

www.stornowaydiamonds.com

Year in ReviewMatt Manson, President & CEO, Director

4

A Year of Solid Project Execution

5

Renard Project construction beating schedule & budget

92% complete at end of April, compared to the (initial)

plan of 77%.

5 month improvement on forecast date of commercial

production, to Dec 31, 2016.

C$775m forecast cost to completion, compared to a plan

of C$811m.

Forecasting excess financing capacity to complete the

project of approximately C$116m as of March, 31 2016.

Forecasting first diamond production end September.

KPIsAs of Quarter ended March 31, 2016

6

Environment, Health and Safety

LTIFR of 0.2 for SWY Employees and 1.5 for Contractors based on 192,321 man hours. 1 environmental non-compliance for SWY, 1 for contractors, project to date.

Mining

7,504,923 tonnes mined from R2, R3 and R65 open pits compared to a plan of 7,376,351 tonnes (102%). 194,416 tonnes of ore on stockpile compared to a plan of 207,799 tonnes (94%).1,218m of ramp development compared to a plan of

1,643m (74%).

First Production GuidanceMarch 30, 2016 Updated Mine Plan

Diamond Production

0.22 Mcarats in FY2016 and 1.71 Mcarats in FY2017

Diamond Sales

1.36 Mcarats in FY2017

Capital Structure & Balance Sheet

7

Balance Sheet(2)

Cash and Equivalents $219 million

Total Debt $255 million

Undrawn Financing Commitments(3) $109 million

Major ShareholdersInvestissement Québec, Orion Mine Finance, CDPQ,

Blackstone, Franklin Templeton, Boston Partners, LetkoBrosseau, FTQ, Platinum Partners, ASA

1. As of May 10, 2016.2. As of March 31, 2016. Unaudited3. Assuming a C$:US$ conversion rate of C$1.10. Does not include $48 million Cost Overrun Facility.4. Fully Diluted

Capital Structure

Recent Share Price (TSX)(1) $1.00

52 week range $0.65 – $1.08

Market Capitalization(1) $765 million

Shares Outstanding 736.5 million

Warrants 119.1 million

Employee Options 31.7 million

50.2%38.5%

11.3%

Project FinanceSponsors

Institutional Retail and Insiders

Share Ownership(4)

Stock Performance12 Month Performance of Peer Diamond Equities

8

50

100

150

200

250

300

350

Ind

ex

to 2

00

9=1

00

US$ May 2011

Renard Sample Valuation Assessments

March2013

March 2014

C$

March2016

Diamond Price PerformanceWWW Rough Diamond Price Index, 2004-2016 (RoughPrices.com)

-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

SWY LUC MPV DDC FDI GEMD PDL

SWY

Publicly Listed Diamond Producers, Developers and Explorers Consensus Analyst Views on Value

TickerPrice

(10/5/16)Shares

O/S (mm)Market

Cap($mm)NAV/sh(1) Current

P/NAV(1) Target (1) % Return to Target

AnnualDividend

Diamond Producers

ALROSA ALRS:M ₽72.50 7,365.0 ₽533,960 (n/a) (n/a) ₽83.32 17% ₽1.47/sh

Dominion Diamonds DDC:T $14.01 85.1 $1,192.7 $25.24 0.6x $23.24 70% US$0.40/sh

Gem GEMD:LN £1.40 138.3 £193.2 £1.97 0.7x £1.67 22% US$0.05/sh

Lucara LUC:T $3.97 380.8 $1,511.9 $3.17 1.3x $3.62 -7% $0.06/sh

Petra PDL:LN £1.11 512.1 £568.4 £1.71 0.6x £1.47 34% £0.02/sh

Diamond Developers

Firestone FDI:LN £0.30 309.0 £92.7 £0.48 0.6x £0.41 35% (n/a)

Mountain Province MPV:T $5.10 159.7 $814.3 $6.77 0.8x $6.42 26% (n/a)

Stornoway SWY:T $1.00 736.6 $736.6 $1.41 0.7x $1.35 35% (n/a)

Diamond Explorers

Kennady Diamonds KDI:V $3.69 46.3 $170.7 (n/a) (n/a) (n/a) (n/a) (n/a)

North Arrow Minerals NAR:V $0.145 54.0 $7.8 (n/a) (n/a) (n/a) (n/a) (n/a)

Peregrine Diamonds PGD:T $0.18 339.1 $61.0 (n/a) (n/a) (n/a) (n/a) (n/a)

Shore Gold SGF:T $0.195 248.7 $48.5 (n/a) (n/a) (n/a) (n/a) (n/a)

1. Bloomberg and Thomson One Analyst Consensus. All Currencies in C$ unless specified

Updated Mine PlanMineral Reserve Case Only, March 30, 2016

10

Notes1. Estimated average price per carat of the Mineral Reserve in Renards 2, 3, 4 & 65 expressed in March 2016 terms.2. Expressed in nominal terms, and excluding Renard Mine Road capital of $69.4 million. Initial Capital Cost in the January 2013 Optimization Study was estimated at $793 million based on $752 million of cost and contingency plus $41 million escalation allowance. In April

2014, prior to the commencement of construction, Initial Capital was estimated at $811 million based on $754 million of cost and contingency plus $57 million of escalation. The estimate of $775 million of Initial Capital in the March 2016 Updated Mine Plan includes allcosts, contingencies and escalation allowances and represents a reduction of $36 million on the April 2014 estimate.

3. Expressed in real terms.4. Expressed in real terms. Assumes a 2.5% escalation in diamond prices between 2016 and 2017 and a US$ exchange rate of C$1.355. Net of all royalties, costs incurred under the Mecheshoo Agreement (IBA) and the effective revenue impairment associated with the Renard diamond streaming agreement. For further information see the Stornoway AIF dated March 30, 2016.6. After tax.

Reserve and Resource categories arecompliant with the "CIM DefinitionStandards on Mineral Resources andReserves". Mineral resources that are notmineral reserves do not havedemonstrated economic viability. Thepotential quantity and grade of anyExploration Target (previously referred toas a “Potential Mineral Deposit”) isconceptual in nature, and it is uncertain iffurther exploration will result in thetarget being delineated as a mineralresource.

30 Mcarat Indicated Mineral Resource

13 Mcarat Inferred Mineral Resource

33-71 Mcarat TFFE

Mineral Resource Estimate Effective September 24, 2015 (NI 43-101)

Renard 65

Renard 9

Renard 4

Renard 3Renard 2Reserve Carats (M) 22.3

Processing Rate (Mtonnes/annum) 2.2 to 2.5

Mine Life (years) 14

Average Diamond Production Years 1-10 (Mcarats) 1.8

Average Diamond Price (US$/carat)1 $155

Initial Cap-ex (C$M)2 $775

LOM Cap-ex (C$M)2 $1,045

LOM Op-ex (C$/tonne)3 $56.20

LOM Op-ex (C$/carat)3 $84.37

Gross Revenue (C$M)4 $5,565

Net Revenue (C$M)5 $4,555

Cash Operating Margin (C$M)5,6 $2,677 or 59%

NPV7% (C$M, unlevered, effective Jan.1, 2016)5,6 $974

Plant Commissioning Commences Oct. 1 2016

Commercial Production Declared Dec. 31 2016

Updated Mine PlanCompared to the January 2013 Optimization Study

Increased Reserves; Longer Mine Life

24% increase in Probable Mineral Reserves to 22.3 Mcarats (33.4 Mt at 67 cpht);

Increase in Mineral Reserve based mine life to 14 years

Increased Average Diamond Production; Increased Early Diamond Production

Average diamond production in Years 1 to 10 1.8 Mcarats/a compared to 1.6 Mcarats/a previously

Guidance of 1.9 Mcarats produced and 1.4 Mcarats sold by end 2017, increases of 24% and 57% resp.

Processing Expansion

Scheduled increase in processing rate from 2.2 Mt/a (6,000 tpd) to 2.5 Mt/a (7,000 tpd) starting in 2018.

Updated Op-ex Estimate based on First Year’s Operating Data

LOM average operating costs of $56.20/tonne, or $84.37/carat.

Updated Project Valuation, After-Stream, Spot Diamond Price, Spot F/X

Real terms cash operating margin of 59% ($120 per carat), after royalties, taxes and stream.

Unlevered, stream affected, after tax NPV (7%) of $974 million (real terms, as of January 1st 2016)11

Production ProfileMineral Reserve Case Only, March 30, 2016

12

0

1,000,000

2,000,000

3,000,000

4,000,000

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Tonnes

UG R3

UG R4

UG R2

OP R65

OP R2/R3

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Carats

R65R4R3CRBCRB2AR2

$0

$200

$400

$600

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Gross Revenue(C$ millions)

Renard 65

Renard 4

Renard 3

Renard 2

Life of Mine RevenueFrom Jan 2013 Optimization Study to March 2016 Updated Mine Plan

$5.000

$4.500

$4.000

$3.500

$3.000

$2.500

$2.000

$1.500

$1.000

$500

$0

$800

$773

$260

$574

$1,255 $4,555

Net Revenue (C$ millions)

Updated MinePlan Mar 2016

OS Jan 2013 Stream Impact

Spot Diamond Pricing

Addition of R65

Addition of R2 to 710m Depth

Exchange Rate

$4,069

Note: Revenue is net of royalties, marketing costs, and (for the March 2016 Updated Mine Plan) the July 2014 Renard Streaming Agreement

Capital Cost Estimate WaterfallFrom November 2011 Feasibility Study to March 2016 Updated Mine Plan

14

$1,045.0

$2.9

$994.4$18.5

$35.0

$500

$600

$700

$800

$900

$1,000

$1,100

FS Nov 2011 OS Jan 2013 LNG FS Oct 2013 Updated Mine PlanMar 2016

Current Mar 2016

Renard LOM Capex (C$ millions)Including Contingencies and Escalation

$775.4

$61.9$35.6

$859.1

$1.9$11.9

$500

$550

$600

$650

$700

$750

$800

$850

$900

FS Nov 2011 OS Jan 2013 LNG FS Oct 2013 Execution PlanApr 2014

Updated MinePlan Mar 2016

Current Mar 2016

Renard Initial Capex (C $millions)Including Contingencies and Escalation

11 Year Mine Life 14 Year Mine Life

Note: Expressed in December 2015 nominal terms and excluding Renard Mine Road capital of $69.4 million. Totals may not add up due to rounding.

Note: Expressed in real terms. Payables and cash as of December 31, 2015 are included in 2016 Net FCF

Financial AnalysisNet Free Cash Flow, After-Tax, After-Steam (C$ million)

15

Construction ReportPatrick Godin, COO, Director

16

Renard Project SiteApril 2016

17

R2 & R3 PitCrusher

UG Mine Portal

R65 Pit Power Plant

Process Plant

Maintenance Shop

Admin/Dry

Accommodation

Health, Safety, Environment, and Stornoway’s Team

SWY employees: 0.24 (1 incident in 817,550 hours worked)

Contractors: 1.54 (15 incidents in 1,946,300 hours worked)

Engineering: 0.00 (0 incidents in 278,495 hours worked)

Renard Total: 1.05 (16 incidents in 3,042,345 hours worked)

Québec Construction Industry: 0.9

Québec Mining Industry: 1.0

18

“The Courage to Care” On Personal Safety; On the Safety of our Colleagues; On the Environment; With our Inter-Cultural Workforce

Lost Time Injury Rate (to the end of April)

Route 167: 2 incidents of non-compliance project-to-date (wetland, remediated)

Renard Project Site: 0 incidents of non-compliance project-to-date

Environment

Construction Sequence

19

R2-R3

R65

Camp

Process

Plant

Portal

2H 2H 2H 2H1H 1H 1H1H

2013 2014 2015 2016

All in parallel with open pit and underground mining activities

1. Construct Access: Road and Airport

3. Enclose Major Facilities (“Outside-In”)

2. Build Camp and Mine Office/Dry

4. Equip Major Facilities. POV

5. Commence Operations

Construction Progress to April 30, 2016

20

Major FacilitiesAccommodation, Mine Dry/Admin, Maintenance Facility Completed Ahead of Schedule by September 2015

21

Power PlantThe First LNG fueled Power Plant in the Canadian Mining Industry

22

Processed Kimberlite ContainmentDry Stacking Processed Kimberlite

23

Processed Kimberlite Containment (PKC) Ditch

Starter Berm

Foundation Drains

Centrifuges in process plant de-water processed kimberlite (PK)…

Primary Crusher, process Plant and PK Loadout connected by covered conveyors

producing a cake for re-handling.

PK cake is loaded out… as a truckable product… and sent to PKC facility with progressive reclamation.

Water ManagementCollecting and Treating 100% of Site Surface Precipitation

24

PKC

Waste Rock

Overburden

UG Mine Portal

Process Plant

Mine Waste Water Treatment

Plant

Collection Trench

Pumping Station

Camp Waste Water

Treatment Plant

Process PlantWorld’s First Diamond Plant with LDR in Primary Flow Sheet

25

Nameplate capacity of 6,000 tpd (2.16 Mt/a) based on 78% plant utilization.

Expansion to 7000 tpd (2.52 MT/a) is scheduled for 2018 based on 83.5% utilization and +2% throughput.

Flow sheet:

Primary jaw crushing to < 230mm

Twin DMS circuits at +1mm -19mm

LDR circuit at +19mm -45mm, scalable to -60mm

Oversize +45mm to secondary cone crusher

LDR and DMS tails +6mm -19mm to tertiary High Pressure Grinding Rolls

Centrifugal de-watering of fines and tails for truckable dry-stack disposal.

Large Diamond Recovery (“LDR”) through TOMRA XRT.

Ramp-Up Schedule

26

35,154

82,005

108,000

126,000 135,000

145,801

162,000 171,000

180,000 180,000 180,000

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

M1

0-2

01

6

M1

1-2

01

6

M1

2-2

01

6

M1

-20

17

M2

-20

17

M3

-20

17

M4

-20

17

M5

-20

17

M6

-20

17

M7

-20

17

M8

-20

17

MIL

L FE

ED (

T)

100% NameplateCapacity

Commercial Production60% Nameplate Capacity for 30 days

RENARD 65

RENARD 4

RENARD 9

RENARD 2

RENARD 3

RETURN AIR RAISE FRESH AIR

RAISE

PORTAL

BACKFILL RAISES IN CROWN PILLAR

410L

270L

710L

590L

470L

290L

400L

250L

860L

VENTILATION RAISE

MAIN RAMP

Underground Mining SequenceMineral Reserve Case Only, March 30, 2016

Combined open pit and underground mining

2015-2018 Open pit R2, R3

2014-2029 Open pit R65

2018-2027 Underground R2, blasthole shrink stoppage with panel retreat

2026-2029 Underground R3, R4, longhole stoping and blastholestoppage respectively

27

1

4

2

3

65

R3 OPEN PITR2 OPEN PITR65 OPEN PIT

Reserve and Resource categories are compliant withthe "CIM Definition Standards on Mineral Resourcesand Reserves". Mineral resources that are not mineralreserves do not have demonstrated economicviability. The potential quantity and grade of anyExploration Target (previously referred to as a“Potential Mineral Deposit”) is conceptual in nature,and it is uncertain if further exploration will result inthe target being delineated as a mineral resource.

Underground Mining SequenceBusiness Case, Including Inferred Mineral Resources, March 30, 2016

Extension of UG at Renard 2 to 860L (stope 5)

Deferral of UG at Renard 3 (stope 6) and its extension to 400L (stope 7)

Deferral of UG at Renard 4 (stope 8) and its extension to 410L (stope 9)

New UG at Renard 9 to 410L (stopes 10 and 11)

Does not include non-resource exploration upside. All pipes open at depth.

Does not include mining of Inferred Mineral Resources at Renard 65 below open pit pending confirmation of Renard 65 ROM $/carat.

28

7

9

10

11

R3 OPEN PITR2 OPEN PITR65 OPEN PIT

RETURN AIR RAISE FRESH AIR

RAISE

PORTAL

BACKFILL RAISES IN CROWN PILLAR

410L

270L

710L

590L

470L

290L

400L

250L

860L

VENTILATION RAISE

MAIN RAMP

5

1

4

2

3

86

Reserve and Resource categories are compliant withthe "CIM Definition Standards on Mineral Resourcesand Reserves". Mineral resources that are not mineralreserves do not have demonstrated economicviability. The potential quantity and grade of anyExploration Target (previously referred to as a“Potential Mineral Deposit”) is conceptual in nature,and it is uncertain if further exploration will result inthe target being delineated as a mineral resource.

RENARD 65

RENARD 4

RENARD 9

RENARD 2

RENARD 3

Open Pit Mining

29

KPIs to March 31, 2016

Actual Plan %

Tonnes Mined, R2-R3/R65 7,504,923 7,376,351 102%

Tonnes Ore Stockpiled 194,416 207,799 94%

Renard 65 Pit (2014-2029)14.0 Mtonnes moved, 1.38 Mcarats (4.58 Mtonnes at 30cpht)

Stripping ratio (Waste to Ore): 2.11, Depth 155mMarch 2018 End 2018 End 2019 End 2021 End 2024 End 2027

March 2016 October 2016 Dec. 2016 August 2017 Dec. 2017 April 2018

Renard 2-3 Pit (2015-2018)15.5 Mtonnes moved, 2.58 Mcarats (4.33 Mtonnes at 59cpht)

Stripping ratio (Waste to Ore): 2.54, Depth 130m

Underground Mine Ramp Development

30

KPIs to March 31, 2016

Actual Plan %

Ramp Development (m) 1,218 1,643 74%

Underground Mine Ramp Development

ContractingWhere we are Spending the Money: 2015 Data

32

Quebec, $324M

Ontario, $43M

USA, $23M

South Africa, $6M

Other, $4M

C$400 million of expenses incurred at Renard in 2015

C$324 million of expenses incurred in Québec in 2015

Mistissini and Eeyou Istchee,

$64M

Chiboug. & Chapais,

$31M

Abitibi-Temiscamingue,

$53MOther, $39M

Chaudiere Appalaches,

$28M

Bas St-Laurent,

$21M

Montreal-Laval, $74M

Saguenay Lac St-Jean, $14M

Contractors at Mine Site in 2015

Construction Talbon Matoush-Grimard Groupe Promec

Manseau & Perron inc MY Surveying Equ. Pétrolier Lac St-Jean

Sakhiikan Consortium Kesi Construction Construction Proco

Eskan Company RCM Habitation Modulaire Air Creebec

Jos Ste-Croix Swallow-Fournier inc Petronor

Kiskinshiish Camp Services Tessier Ltée Dyno Nobel Canada

Communications Telesignal Propane Nord-Ouest Groupe Robert

Structures GB Ltée Prevost et Frères Mabarex

H2O Innovation Nordic Structures Bois Hewitt

Anixter Canada Recyclage Ungava Corner Cast

Plomberie Chibougamau Sanivac Réseau Revetement RHR

Crevier Chiiwetin Industrie Blais Groupe Industriel Premium

Convoyeur Continental ASDR Environnement Mansour Mining Techno.

Installations AC Washeyaabiin Const. PAR Tanguay (WEC)

Industrie Fournier Biron SNC-Lavalin

Yves Lacombe Pétrole MJ Golder

Lafleur Portes de Garage Moreau Électrique BBA

Protection Incendie Viking Moteur du cuivre/DLB Metallisation du Nord

Monthly Manpower at Site to April 30, 2016Stornoway Employees and Contractors at Renard

33

34

Origin of Renard’s WorkforceTargeting Local Hiring: Stornoway Employees at Mine Site, April 30, 2016 Data

11

19

27

40

41

49

8

19

58

5

43

0 10 20 30 40 50 60

Other Communities (CA)

Other Communities (QC)

Quebec

Saguenay Lac-St-Jean

Montreal

Abitibi-Témiscamingue

Other Communities NQ

Chapais

Chibougamau

Other Cree Communities

Mistissini

42% Northern Quebec

55% Other

Quebec

3% Other

Canada

82%

14%

1%1% 2%

April 2016 (395 employees)

75%

20%

1%2% 2%

Sept. 2015 (290 employees)

RENARD LONGUEUIL CHIB/MIST TORONTO VANCOUVER

35

Growing a CompanyStornoway Payroll, September 2014 to April 2016

34%

44%

6%

7%9%

Sept. 2014 (68 employees)

Targeted Contracting for Small and Local Suppliers

Stornoway emphasises local hiring and procurement, with contracts tailored for local businesses.

Stornoway prioritizes, wherever possible, hiring and contracting in the Cree communities of Eeyou Itschee, particularly Mistissini, and with the families of Sydney Swallow (Kiskinshiish Camp Services) and Emerson Swallow (Swallow-Fournier), Tallymen for the Renard area.

In 2015 Stornoway purchased $95 million in goods and services from Mistissini, Chibougamau and Chapais, and estimates $8 million in payroll added to the local economy.

36

169134

50

Numbers of Contracts for Goods and Services in Québec2015 Data

10-99K$ 100-999K$ 1M$+

CommunitiesStornoway is committed to fostering a positive relationship with its communities.

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In addition to employment and business development opportunities, Stornoway aims to foster educational and training development in youth, respect for traditional activities, two-way communication with community representatives on project impacts, and support for local charitable organisations.

Stornoway undertakes regular communication with our employees at site, and communicates more formally through community committees such as the RenardCommittee, the Environment Committee, the Training & Employment Committee, and the Comité de Liaison Renard.

Our annual Sustainable Development Report is delivered to each household in the region.

Stornoway’s commitments are laid out in our 2012 Mecheshoo Agreement with the Cree Nation of Mistissiniand the Grand Council of the Crees (EI), and our 2012 Declaration of Partnership with Chibougamau and Chapais.

Community Engagements

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Centraide/SWY Golf Tournament

Mistissini Open Door Mining Matters activity day

Cree Youth at Quebec Mines ExpoCree Training Programs

Cree Career Fair Site Visits

On-site Cultural Activities

Looking ForwardMatt Manson, President & CEO, Director

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Areas of Focus

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Finality (it’s not over until it’s over)

Mining: now on the critical path

Stakeholder expectations

Full resource reconciliation

Employment market: Lack of trained miners

Opportunities

Construction pace and performance

Operating environment

Large Diamonds

Renard Resource Upside

Growth: Exploration and M&A

0

20

40

60

80

100

120

140

160

180

Resource Growth at Renard

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0

50

100

150

200

2004 2006 2008 2009 2011 2013 2015

Mill

ion

s o

f To

nn

es

Resource Growth, 2004-2015

0m

100m

200m

400m

900m

700m

500m

300m

800m

600m

1100m

1200m

1000m

Mine Plan: 14 years of mining on 22mcarat Mineral Reserve (33mtonnes)

Permitting and Long Term Plan

The Vision: Deposit still Open

Millions of Tonnes

Grades illustrated are for Indicated and Inferred Mineral Resources respectively at a +1DTC sieve size cut-off.Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources andReserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. Thepotential quantity and grade of any Exploration Target (previously referred to as a “Potential MineralDeposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target beingdelineated as a mineral resource.

30 Mcarat Indicated Mineral Resource

13 Mcarat Inferred Mineral Resource

33-71 Mcarat TFFE

Mineral Resource Estimate Effective September 24, 2015 (NI 43-101)

Renard 6524/29cpht

Renard 953cpht

Renard 461/52cpht

Renard 3102/112cpht

Renard 284/59cpht

TFFE High Range

Inferred Mineral Resource

TFFE Low Range

Indicated Mineral Resource

Conceptual

R7R1 R65

R4 R9

R2

R3

R10

Resource Reconciliation

Step 1: Reconcile actual pipe geology with geological model (Successful example from Renard3 on 490m level shown opposite)

Step 2: Reconcile grade (to come upon processing start-up)

Step 3: Reconcile size distribution and plant recovery characteristics (to come upon processing start-up)

Step 4: Reconcile quality assortment and value (to come upon sorting and sale)

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Renard 3: Level 490 Mine Geology

Kimb3i

Kimb3f

Kimb3dg

Kimb3b

Kimb3h

CRB

Kimb3c

Thin lines are the 2015 geological modelThick lines are actual mine geology

Renard 3: Level 490 Mine Geology

Renard 2

Renard 3

Large Diamonds at Renard

The Renard Diamond Process Plant will be the first plant in the world to have LDR capacity in the primary flow sheet.

Large Diamond Recovery (“LDR”) through TOMRA XRT.

High Quality Production with Large Stone Potential

Distribution in Renard 2 predicts three to six 50-100ct stones and one to two +100ct stones every 100,000 carats.

Base Case Diamond Valuation Estimates Using on Best Practice Methodology

Average diamond price estimate in March 2016 for the Mineral Reserves at US$155/ct (un-escalated).

Substantial revenue potential from large diamonds not accounted for in the base case cash-flow model.

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1000T storage binwith overflow to stockpileRe-load hopper

HPGR

Cone crusher

Scrubber and screening

Process office and MCC’s

DMSPK mixerCentrifuge

Air compressors

Thickening

Wet screening

Cold storage

Dryscreening

Process Water

Diamond Sales

Stornoway will sell 100% of the Renard diamond production by tender sale in Antwerp on an undivided basis.

Stornoway has engaged well known diamond industry broker and rough distributor Bonas-Couzynas sales commissionaire and tender agent for arm's length market sales.

Other than under exceptional circumstances, Stornoway will sell 100% of what it produces, will not carry a stockpile outside of normal goods-in-progress, and will be a market price taker.

Stornoway will support the Québec or Canadian brand identification initiatives of its clients through chain of custody certification.

First sales are expected in January 2017.

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Exploration & Adamantin

Stornoway maintains an active diamond exploration team and conducts 100% owned generative programs.

Recent drilling at Adamantin Project returned kimberlite in 18 of 78 holes testing 72 geophysical targets interpreted as 11 discrete kimberlite bodies.

Intersections of undiluted (100%) HK up to 13.7m and mixed HK/country rock up to 22.9m.

AD50/51/52 interpreted as one body dipping 5-10 degrees with a true thickness of 10m, over a 260m strike extent, open, 6-12m below surface (illustrated).

Sampled for diamond content. One diamond recovered in till in 2015 sampling.

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AD-50

AD-51AD-52

AD-52-03

AD-52-01

AD-52-02

SW NE

6-8 mfrom surface

9.8 m

AD-50-01AD-50-02

9-10 mfrom surface

9.8 m

SW NE

AD-50AD-51

AD-52

AD-50 AD-52

12 Month Outlook and Priorities

A Safe and Protected Workplace and

Environment

Project Completion on Budget and Schedule

Resource Reconciliation

First Québec Diamond Sales January 2017

Achieving March 2016 Mine Plan Guidance

0.22 Mcarats Produced in FY2016 and 1.71 Mcarats in FY2017

1.36 Mcarats Sold in FY2017

Operating and Sustaining Capital Costs

Maintain Balance Sheet Strength

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Merci, Thank You, MeegwetchQuestions