Plymouth Minerals Limited

May 2016 Company Presentation

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Disclaimer

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ForConsidera-on

Thispresenta,onhasbeenpreparedbyPlymouthMineralsLtd“Plymouth”.Thisdocumentcontainsbackgroundinforma,onaboutPlymouthcurrentatthedateofthispresenta,on.Thepresenta,onisinsummaryformanddoesnotpurporttobeallinclusiveorcomplete.Recipientsshouldconducttheirowninves,ga,onsandperformtheirownanalysisinordertosa,sfythemselvesastotheaccuracyandcompletenessoftheinforma,on,statementsandopinionscontainedinthispresenta,on.

This presenta,on is for informa,on purposes only. Neither this presenta,on nor the informa,on contained in it cons,tutes an offer, invita,on, solicita,on orrecommenda,oninrela,ontothepurchaseorsalesofsharesinanyjurisdic,on.

This presenta,on does not cons,tute investment advice and has been prepared without taking into account the recipient’s investment objec,ves, financialcircumstancesorpar,cularneedsandtheopinionsandrecommenda,onsinthispresenta,onarenotintendedtorepresentrecommenda,onsofpar,cularinvestmentstopar,cularpersons.Recipientsshouldseekprofessionaladvicewhendecidingifaninvestmentisappropriate.Allsecuri,esinvolveriskswhichinclude(amongothers)theriskofadverseorunan,cipatedmarket,financialorpoli,caldevelopments.

TothefullestextentpermiKedbylaw,Plymouth,itsofficers,employees,agentsandadvisorsdonotmakeanyrepresenta,onorwarranty,expressorimplied,astothecurrency,accuracy,reliabilityorcompletenessofanyinforma,on,statements,opinions,es,mates,forecastsorotherrepresenta,onscontainedinthispresenta,on.Noresponsibilityforanyerrorsoromissionsfromthispresenta,onarisingoutofnegligenceorotherwiseareaccepted.

Thispresenta,onmay include forward-looking statements. Forward-looking statementsareonlypredic,onsandare subject to risks,uncertain,esandassump,onswhichareoutsidethecontrolofPlymouth. Actualvalues,resultsoreventsmaybemateriallydifferenttothoseexpressedorimpliedinthispresenta,on. Giventheseuncertain,es,recipientsarecau,onednottoplacerelianceonforwardlookingstatements. Anyforwardlookingstatementsinthispresenta,onspeakonlyatthedateof issue of this presenta,on. Subject to any con,nuing obliga,ons under applicable law, Plymouth does not undertaken any obliga,on to update or revise anyinforma,onoranyof the forward lookingstatements in thispresenta,onoranychanges inevents,condi,ons,orcircumstancesonwhichanysuch forward lookingstatementisbased.

CompetentPersonsStatement

CompetentPersonStatement:Theinforma,oninthisreportrelatedtoExplora,onResults,MineralResourcesorOreReservesisbasedoninforma,oncompiledbyMrAByass,B.ScHons(Geol),B.Econ,FSEG,MAIGanemployeeofPlymouthMineralsLimited.MrByasshassufficientexperiencerelevanttothestyleofmineralisa,onandtypeofdepositunderconsidera,onandtotheac,vitywhichheisundertakingtoqualifyasaCompetentPersonasdefinedinthe2012Edi,onoftheAustralasianCodeforRepor,ngofExplora,onResults,Explora,onTargets,MineralResourcesandOreReserves.MrByassconsentstotheinclusioninthereportofthemaKersbasedonthisinforma,onintheformandcontextinwhichitappear.

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Corporate Overview

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CapitalStructureASXcode PLH

Shareprice 10.c

Sharesonissue 107million

Op,onsonissue(exercisablebetween14-20cbyQ12017)

4.25million

Marketcapitalisa,on ~$10.7million

Cashbalance $3million

Netdebt Nil

MajorShareholdersBoardandManagement 12%

Top20 ~53%

•  Independent ASX listed resource companyfocusedonpotashdevelopmentassetsinGabon

•  Drillprovenpotashpoten,al

•  Clearlydefinedplanforprojectdevelopment

•  Significantin-countryexperienceandexper,se

Plymouth12-monthsharepriceperformance

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0.02

0.04

0.06

0.08

0.1

0.12

0.14 Signedop,ontoacquireGabonesePotashProjects

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Board Post Transaction

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AdrianByassExecu,veChairman(BScGeolHon,B.Econ)

•  +20yearsintheminingindustrybothinlistedandunlisteden,,esglobally,Non-Execu,veandExecu,ve Director of various listed and unlisted mining en,,es, which have successfullytransi,onedtoproduc,oninbulk,preciousandspecialtymetalsaroundtheworld

•  CurrentlyonBoardsofASXphosphate,zincandnickelcompanies.•  Extensiveminingrelatedexperiencethroughequityanddebtfinancing•  ASXandAIMBoardexperienceinseveralexplora,onandminingcompaniesthroughacquisi,on

intoproduc,on

DrEricLilfordManagingDirector(B.Eng & PhD MineralsEconomics)

•  +25yearsofmining, investmentbankingandbrokingexperiencefocussedonnaturalresourcesectorglobally

•  ManagingDirector,ChairmanandNon-Execu,veofvariouslistedandunlistedminingen,,es•  Mining experience in bulk commodi,es, precious metals and copper at opera,onal levels in

severalAfricancountries•  Strongregionalnetwork•  Has directly managed 5 major PFS and DFS Studies and numerous scoping studies, raised >

$500Minminingrelatedprojects

Humphrey Hale(Non-Execu,ve)(BScGeolHon)

•  +20 years in the mining industry ini,ally in oil and gas and then in precious and bulkcommodi,es

•  FormerManagingDirectorofASX/AIMlistedWolfMineralsLimited2007-2014.LedASXandAIMIPO’s, raised in excess of $250M in debt and equity to advance the project, completed theacquisi,on, feasibility studies, perminng, off-take nego,a,ons and decision to mine for theHemerdontungstenmine–winneroftheEuropeansMetalsandMining“DealoftheYear2013”

Chris-anCordier(Non-Execu,ve)(B.Comm)

•  +15yearsofexplora,onandminingexperienceboth in listedandunlisteden,,esthroughoutAfrica

•  Extensivebackgroundofsourcing,fundinganddevelopingresourceprojects•  Non-Execu,veandExecu,veDirectorofvariouslistedandunlistedminingen,,es

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Agenda

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1.   UniquePotashOpportunity2.   PotashFundamentals3.   GabonataGlance4.  WhyPlymouth?5.   PlymouthAssets6.   Summary

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UniquePotashOpportunity

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Potential Company Making Assets

•  Plymouth owns 100% of two outstanding potash projects inGabon.Theseareboth:o  Drill-tested,provenpotash-bearingassetso  Located near exis,ng infrastructure for transport readysolu,on

o  Superblylocatedinrela,ontoworldmarkets(i.e.Brazil)o  Havedefinedworkprogrammes,budgetandstrategy

•  Potashisacri,calandnon-subs,tutablecomponentinfer,liserapplica,ons

•  Strongdemandgrowthforpotashcoupledwithresilientpricinginsubduedcommodi,esmarket

•  Substan-alupsidepoten-alforPlymouthvalua-on

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PotashFundamentals

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•  Potashisamajorsourceofpotassium(K)-cri,calforplantgrowth

•  Essen,al raw input in fer,l iserapplica,onwithnoknownsubs,tute.

•  The majority of potash is consumed as

agriculturalfer,liser

•  Maintypesofpotashfer,liser:o  MuriateofPotash(MOP)o  SulphateofPotash(SOP)

•  MOP is the dominant potash product,with most SOP a by-product bytreatmentofMOPfeedstock

•  Price has shown minimal fluctua,onsover2years–stablemarket

What is Potash?

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MOP74%

SOP15%

NOP8%

Other3%

PotashFer-liserConsump-on

MOPis,andwillremaindominantformofKsupplyasSOPhasnicheapplica,ons

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•  Potash formed through evapora,on ofseawaterinancientinlandoceans

•  Aser the water has evaporated, thepotassiumsaltsarecrystallisedintobedsofpotashore

•  Potash predominately exploited fromundergrounddeposits

•  Approximately 70% of potash supplycomes from conven-onal under-groundmining and treatment of sylvite andcarnalliteoretoproduceMOPforglobalconsump,on

•  This means that Plymouth is targe,ng

the deepest markets for product andcontempla,ngthemostcommonminingmethodforextrac,on–lowestrisk.

Potash Formation

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•  Globaldemandforfer,liser(N,P,K)forecasttogrow~3%year-on-yearto2019**o  Increaseprojectedforpotash

fer,liserinputwithaverageannualgrowthrateof2.4%to2019*

•  Potashgrowthunderpinnedbystrongdemanddrivers o  Growingpopula,ono  Reduc,oninarablelando  Changingdietarypreferences

More production from less area = more fertiliser

Potash Demand

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7.0billion

Es,mate9.1

billion

0.4Haper

capita

Es,mate<0.2Ha

2,400kcalperday

Es,mate3,000kcalperday

2015 2050

*Interna'onalFer'liserIndustryAssocia'on:Fer'liserOutlook2015-2019**FoodandAgricultureOrganisa'onoftheUnitedNa'onsK+SCompendium2015

+30%

Popula,on

Dietintake

+25%

Farmland

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•  ~ 82% of global potash supplied andconsumedisMOP*

•  MOPischeapestsourceofpotasho  Carbohydrates (eg. wheat and

rice) beKer suited to MOP thanotherfer,lisertypes

o  L i v e s t o c k d e p e n d e n t o ncarbohydrate-basedfeeds

•  Approximately a third of the worldseaborne MOP market (~35Mtpa) isimportedandconsumedinBrazilo  Brazil imports >90%of its potash

requirementso  Southern & Central America

consume approx. quarter ofglobalpotashproduc,on

Global Demand

12*takesintoaccount%ofMOPusedtocreateSOP

Vitalforhighyieldsandcropresilience

Standard“K60”granularfer,liserreadyforapplica,on

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•  The final delivered price(including all transport) toconsumers is cri,cal whenlooking at produc,on costcurves and margins toproducers

•  It is the all-in-cost toconsumer, not the mine-gate cost that needs to beconsideredwhen assessingviabilityofnewproduc,onsources

Potash Supply

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Significantglobalproduc,on(CanadaandFSU)hastotraveltodisparatemarketsusinglongsupplychains.

ThisisakeyadvantagetotheGabonpotashprojectsheldbyPlymouthastheyenjoystrongadvantagesthroughcloseshippingdistancestoBrazil–thiscouldbeasmuchas

US$55/tadvantageoutof~US$300/tsaleprice

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GabonataGlance

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•  S t a b l e , d e v e l o pmen t f o c u s s edgovernment, substan,al resourcesindustryalready

•  Miningcode recentlyupdated to furtheraKractinvestors-LowRisk

•  3rdhighestAfricanpercapitaGDP•  Extensive rail and inland river transport

system with deep-water export portfacili,es

•  Transparentminingindustry,proac,veindiversifica,on from exis,ng mainstay ofoil

•  Significant base metal (manganese),energy (uranium) and precious metal(gold)mines

•  Governmenthasrighttoearnupto25%in project through purchase of interestpriortodecisiontomine

About Gabon

ELFoilfacility

PlymouthProjects

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WhyPlymouth?

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•  Key factor inbecomingapotash supplier isloca-on, which will determine posi,oningonthecostcurve

•  Loca,on – in ground (depth, con,nuity,

seamthickness)•  Loca,on – to coast (infrastructure and

accesstoexportroutes)•  Loca,on–tomarket(distancefromportto

markets)

•  Plymouthenjoysstrongadvantagesinallofthese criteria – rela,vely shallow deposits,welllocatedtoportandmarket.

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TosupplytheBrazilianmarket,exportersneedtoenduresubstan'allogis'calhurdleswhichcancostupto1/3deliveredprice

Plymouthhasaninherentadvantageintheshortestshippingdistances,thiscanbeworthasmuchasUS$55/t

Project to Market – clear advantages

Barriers toentry suchashighCapexdue todeep deposits and highOpex based on hightransport costs are not applicable toPlymouth–MAJORadvantages

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PlymouthAssets

Two“Companymakers”–BanioandMamana

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•  SIZE: Large tenement holding –granted Feb ’16 – Tenure: 3 years,with3yearrenewal

•  HIGHGRADE:Drill-provenhigh-gradepotash

•  LOCATION: Along strike from

Elemental (ASX:ELM) and HollePotash Mine – world class basinsenng

•  LOCATION: Benefit of being on thecoast,trans-shipopportunity

•  LOCATION: SignificantshippingadvantagetoBrazilrela,vetopeers

Banio Overview

SouthernareasofBaniotenementnearproposeddrilling

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•  1,244km2grantedexplora,onlicence

•  20km to the north west of ElementalResources’SintoukolaPermit

•  Previousdrillingconfirmsbroadzonesofpotash salts with high grade potashintersec,ons

•  Seismicdataavailable

•  InfrastructureproximaltoProjectarea

Banio Overview

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Contourlinesshowingtopofsaltforma-oninCongoBasin.SignificantpotashdepositsoccurthroughoutthebasinwhichspanstheGabon/RoCBorder

Holle Potash Minewas a significantproducer for manyyears

ElementalhasrecentlyenteredintodiscussionsforUS$50mfundingand

alsoreceivedacondi-onalEOIvaluingELMat>A$130m

TechnicalHighlights:

•  Carnallite zones from554m to 1,315m(offshoretowestoftenure)MBNM-6H

•  Potash salts delineated from 528m to1,017m, selec,ve samples reportedupto 48% sylvite and 80% total potashsaltsBO2(inPLHtenure)

•  27% potash/Mg salts from 454m to1,207mBO1(inPLHtenure)

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•  ADVANCED: >6,000mdrilling

•  HIGHGRADE: Veryhigh-grade

•  DEPTH: Shallow(<400m)

•  LOCATION: OnOgooueriver,directaccesstoPortGen,l

•  ECONOMICS: Ini,alstudiesarecompelling,poten,alforrapidvaluecrea,on

Mamana Overview

Rapid pathway to development

2121Accessviaroadorriver

PortGen,l

PortOwendo

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•  120kmfromcapital,easilyaccessible,roadandriver

•  219km2tenurearea,locatedadjacenttothemajorOgooueRiver

•  Successfullydrilledinthe1950’swithhighgrade&shallowpotashfound(e.g.

4.35m@29%K2Ofrom<400mfromsurface)

•  Seismic data defines areas ofundeformedpotash

•  Drilling in shallow zones on anominal1.5-2.0kmspacing

•  Poten,al for rapid resourcedelinea,on inaccordancewithJORC 2012 due to 6,000m ofpreviousdrilling&seismic

•  Definedlogis,csstrategyusinge x i s , n g t r a n s p o r tinfrastructuretoport

Mamana Overview

DrillingatMamanahasdelineatedalargeareaofconsistentpotashmineralisa,on

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Activity Timeline

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•  Fundsfrom$3millionplacementtobeapplied:•  ToaccelerateplanneddrillingatBanioandMamana

Indicative timing

2016 2017

Q1 Q2 Q3 Q4 Q1 EGM to approve potash acquisition and $3 million placement

Banio Project •  On ground preparation •  Seismic •  Drilling •  Initial drilling results •  Release of complete drilling results •  Scoping Study commences Mamana Project •  Seismic •  Exploration Target •  Drilling

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Plymouth’s competitive advantage

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GRADE

§  Minesaroundtheworldvaryfrom10-30%K2O,typicallywithhighergradesrequiredinCanadaforthedeepestdeposits.Europeaverageof10-15%

§  Mamanahas+18%K2Oandearlyindica,onisthatBaniois+20%K2Obasedondrilling–Advantage:LowerOpex

DEPTH

§  Canadian deposits are predominately +1,000m deep; Russia – 100-600mdeep

§  Mamana&Banio are approximately 200-600mdeep–Advantage: Lowerini-alCapexandlowOpex

MINERALOGY§  Sylviteandcarnalliteorepresentinmostdepositswithsylviteonlyop,ons

available§  Mamana&Baniocontainsylvite–Advantage:LowerOpex

SEAMTHICKNESS §  Seamthicknessforminingaroundtheworldaverages~3m§  Plymouth’sprojectaverageis+3m–Advantage:LowerOpex

DISTANCEFROMMINEGATETOPORT

§  Projects either located on the coast (Banio) or nearby to currently in-usewater transport solu,on via river barges – Advantage: Lower TransportCost

DISTANCEFROMPORTTOMARKET

§  Plymouth has shortest shipping distance compared to Canada whereshippingcostsareapprox.US$45-55/t (outof salespriceofUS$285-300/tCIFBrazil)–Advantage:lower‘All-In’cost

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ElementalASX.ELM(alongstrikefromBanio)

HighfieldASX.HFR(m/capA$441M)

Peer Comparison Significantscopeforquantumincreasewhencomparedwithpeervalua,onsoncomparableassetsandgiven,ghtcapitalstructureofPlymouthwhichhasTWOsignificantpotashassetsinonecompany

MarketC

apita

lisa,

on

ASXPotashCompanies SourceASXasat28/04/16

PlymouthASX.PLH(@10cps)

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Summary

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Summary

ExcellentTechnicalFundamentals

§  Historical explora,on ac,vi,es significantly de-risks Projects andprovidessolidfounda,onforupcomingexplora,oncampaigns

ValueCrea-onStrategy

§  Clearly defined plan to bring Banio and Mamana to developmentpathway

StrongMacroeconomicDemandDrivers

§  Growingglobalpopula,on,decliningarablelandandimproveddietsdrivingdemand

Infrastructure §  Inplaceorsolu,onavailablewithinexis,nguse

ProximaltoMajorMarkets

§  Suppor,veGabongovernment,updatedinfrastructureprovideshortshippingdistanceadvantage

NewLeadershipTeam

§  Proven project development and funding capabili,es, and Africanopera,onalexperience

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Thankyou

Plymouth Minerals Limited T: +61 8 6461 6350 (AUS) A: Level 1, 329 Hay Street, Subiaco, WA Australia, 6008 W: www.plymouthminerals.com

INVESTORS: Dr Eric Lilford Managing Director P: +61 424 757 452 E: elilford@plymouthminerals.com

Adrian Byass Executive Chairman P: +61 410 305 685 E: abyass@plymouthminerals.com

MEDIA: Rebecca Lawson Media + Capital Partners P: +61 433 216 269 E: rebecca.lawson@mcpartners.com.auF

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Appendix

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Banio Infrastructure

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RecentlyCompletedHydropowerPlant RoadUpgradeBetweenTchibanga-Mayumba

RecentlycompletedBanioBridge-PartofBroaderInfrastructureDevelopmentProject

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Mamana- Transport Pathway TopLes:Bargecontractorprovidinglogis,csandtransportservicesfromLibrevilleandPortGen,lalongOgooueRiver(AdjacenttoMamanaProject)BoKomLes:OgooueRiverbridgeatLambarene(upriverfromMamana)-presentlyu,lisedbybargestotransportfreightfromLibrevilletoLambarene&transport,mberfrominlandtoPortGen,lBelow:FreightbargeonOgooueRiver

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