Bam d’Afrique and NewCo BioCarbon

Investor Presentation2014

Project - NewcastleTotal Investment - $502,083,310 in three phases over three yearsYear 1, Phase 1

Bamboo Plantation + equipment $ 8,938,427 Transport vehicles $ 562,857 Development fee $ 48,490,706 Subtotal Phase 1 $ 57,991,989

Year 1, Phase 2 Initial carbonising plant (20 ton/h) & steam turbine $

7,500,000 Design of the Biomass-to-Liquid (BTL) refinery

Subtotal Phases 1 & 2 $ 65,491,989

Year 2 & 3, Phase 3 2nd year: Infrastructure BTL and final carbonising plant $

225,000,000 3rd year: Finalise construction of all plants $

211,591,320

Subtotal Phase 3 $ 436,591,320

Offset value from 750,000 tons of Met Coke = $259 395 000 over 20 years

Background to Bamboo Over 13 years of research and development Raw material to be grown in Swaziland & South Africa

– Favourable Land Agreements

– High demand for bamboo by many industries

– Carbon Credits for Bamboo plantations

– Offset credits for Power, BamCoke and fuel

Current South Africa

– Bamboo embryo genesis labs and nurseries

Investor Criteria: Core

NewCo Farming in Swaziland:

•Produce bamboo for BioCarbon, BTL &

electricity

•4,000 hectare farm & Bamboo Nursery

•Average plantation cost: $1,927 /hectare

•Average income per hectare from year 4 to 10:

$5,980

•IRR: 62%+ from Farming Operations

•NPV: $ 107,986,477 @ a 12% cost of Capital.

Development StepsMth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth

Nursery 1 2 3 4 5 6 7 8 9 10 11 12Order PlantsTC delivery @ 50,000 every 2 weeks fromPlant deleveries to Farm from other sourceOrder Farming equipment deliveryFarmingFinilse agreements + Land SurviesOrder fertilise & DeliveryFencing Land Prep

Operational StepsMth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth

Farming year 1 13 14 15 16 17 18 19 20 21 22 23 24Pitting and PlantingWatering for six mooths after rains if rainfall <600 mmWeeding till two weeks after rainsWatering after planting

Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth MthFarming year 2 25 26 27 28 29 30 31 32 33 34 35 36Shoot Harvest Weeding till two weeks after rainsSlashingFarming year 3 37 38 39 40 41 42 43 44 45 46 48 49Shoot HarvestSlashing

Farming year 4Shoot HarvestCulm Harvest

Operational Steps Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth Mth

Bio Carbon Plant 1 2 3 4 5 6 7 8 9 10 11 12Order Carboniser Delivery & TestingOrder BTL (Design and engineering)

Carbonising

BTL Construction 13 14 15 16 17 18 19 20 21 22 23 24Design and engineering then ConstructionCarbonising + Power generation

25 26 27 28 29 31 33 35 37 39 41 43Constrcution and testing - HandoverCarbonising + Power generation

44 45 46 48 49 50 51 52 53 54 55 56Supply BioCoke, Fuel & Power

Investor Criteria: Non-core

Transportation

Bamboo Splitting then Chipping

Community Based Industries

– Food security

– Making of Flooring etc.

– Low Cost Housing

Current Status

Lab and Nursery: Facilities ready to start production

Carbonising: Feasibility completed on 500 tons of carbonized bamboo and 500 tons of black wattle

Market : Agreements from Smelters to purchase BamCoke

Farms: Initial Agreements with land owners being finalized

Profit and LossProduction Statistics Yr-1 Yr-2 Yr-3 Yr-4 Yr-5 Yr-6 Yr-7 Yr-8 Yr-9 Yr-10Diesel Sold (litres) - - - 356 792 666 468 604 354 469 376 099 476 391 092 472 244 539 470 803 012 474 462 465 BamChar/ Sold (t) - 98 112 98 112 571 252 750 271 751 507 762 738 756 099 753 791 759 650 Power Generated (kWh) - 87 600 000 87 600 000 1 896 093 120 2 215 769 909 2 217 976 376 2 238 032 692 2 226 177 431 2 222 056 014 2 232 518 624

Quantity of shoots & Leaf sold (t) - - 14 240 16 040 25 480 32 040 34 480 38 400 43 200 47 600 Quantity of bamboo culms sold (t) - - - 1 020 093 1 339 770 1 341 976 1 362 033 1 350 177 1 346 056 1 356 519 CO2 Sequestered (MT) - - - 0 0 0 0 0 0 0mega watts per hour 10 10 216 253 253 255 254 254 255

Net Sales - 35 390 400 38 102 781 784 548 343 981 823 631 984 548 055 997 306 303 990 870 114 989 326 316 993 007 281Cost of Goods SoldPurchased Biomass - 2 502 857 2 502 857 14 572 759 19 139 570 19 171 091 19 457 610 19 288 249 19 229 372 19 378 837BTL Operating Costs - - - 127 215 198 130 795 634 134 022 264 137 353 799 140 724 472 144 190 350 147 762 880BamChar Production Costs - 637 085 651 722 2 205 467 9 721 167 10 095 160 10 517 654 10 905 978 11 327 706 11 795 367Plantation Costs - - 369 945 380 832 399 874 411 877 432 471 454 094 476 799 500 639Harvesting Costs - - 102 043 723 682 982 095 1 030 421 1 059 874 1 080 890 1 134 934 1 191 681Logistics - - 14 240 1 567 402 1 898 283 1 907 721 1 930 482 1 922 831 1 923 812 1 920 070Total Cost of Goods Sold - 3 139 942 3 640 807 146 665 339 162 936 623 166 638 534 170 751 891 174 376 513 178 282 973 182 549 474

Gross Profit - 32 250 458 34 461 974 637 883 003 818 887 008 817 909 521 826 554 412 816 493 601 811 043 343 810 457 806Gross margin (%) 0% 91% 90% 81% 83% 83% 83% 82% 82% 82%

Admin/Overhead - - 837 866 837 866 837 866 837 866 837 866 837 866 837 866 837 866Amortization expense 25 572 880 25 572 880 26 050 359 26 050 359 26 050 359 25 895 595 25 895 595 25 895 595 25 895 595 25 895 597

Operating Profit/(Loss) -25 572 880 6 677 578 7 573 748 610 994 778 791 998 783 791 176 059 799 820 951 789 760 139 784 309 881 783 724 343Operating Margin (%) 78% 81% 80% 80% 80% 79% 79%Financial Expense Financial Expense 0 35 250 609 26 408 259 16 653 034 6 088 131 22 869 - Total Financial Expenses 0 35 250 609 26 408 259 16 653 034 6 088 131 22 869 - - - -

Profit before Tax -25 572 880 -28 573 031 -18 834 511 594 341 743 785 910 652 791 153 190 799 820 951 789 760 139 784 309 881 783 724 343Profit before Tax margin 0% -81% -49% 76% 80% 80% 80% 80% 79% 79%Net Profit/(Loss) -25 572 880 -28 573 031 -18 834 511 594 341 743 785 910 652 791 153 190 799 820 951 789 760 139 784 309 881 783 724 343Net margin 76% 80% 80% 80% 80% 79% 79%

EBITDA 0 32 250 458 33 624 107 637 045 137 818 049 141 817 071 654 825 716 546 815 655 735 810 205 477 809 619 940

Use of Funds

Investment Cost Schedule (US$) % of total Total ($USD)

InvestmentsPlantation and Farm Infrastructure 1,80% 8 166 667 Equipment and Machinery 0,17% 771 761 Vehicles/Transport 0,12% 562 857 Bam Char BamCoke 13,79% 62 548 786 BTL Plant & Equipment 84% 381 013 333 Office Equipment 0,01% 29 201 Working Capital 0,11% 500 000 Total 100% 453 592 604

Development Cost 48 490 705 Total Investments 502 083 310$

Profit Center Returns: Farming

(10 years)

Gross Profit Margin• >250%

NPV $ 78,943,302

12% Cost of Capital

IRR 86 %

Capital Investment Required - $9,501,284

Profit Center Returns: BamCoke & Power

First Profits by year 2

10 year NPV $627,074,620

• 12% Cost of Capital

IRR – 77%

Capital Investment - $78,712,354

Profit Center Returns: BTL & Power

First Profits:

• 4 years from start of project, i.e. when smelters start to be built

10 year NPV $2,837,752,250

• 12% Cost of Capital

IRR – 77%

Capital Investment - $397,176,902

Development - $16,692,769

Offsets

Offset value from 750,000 tons of Met Coke could be as high as $787,398,857 (over 20 years)

If you use BamCoal in the power station instead of Thermal Coal an extended project would be able to offset 3,000,000 tons of coal over 10 years to the value of $1,567,606,857

Total investment in project excluding BamCoal over three years is $502,083,310.

Exclusive of a further 10,000 hectares, to mitigate the coal used in the power stations.

10,000 hectares farming - $21 789 235

BamCoal Production + Power - $155 621 423

Summary

Investor Returns: IRR 62%NPV $2 087 905 34712% Cost of Capital

Job CreationMajor New Industry for SwazilandExpansion into AfricaMassive potential for carbon offsets from innovative planning & thinking.

Thank You