Corporate Update, June 16, 2016

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Forward Looking InformationThis 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 does not 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, estimates and 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 exploration targets; (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 Reserve Estimate; (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 the completion 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 pit and 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 of any 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 to be 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 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 Reserve Estimate ; (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) estimates of net present value; (vi) anticipated timelines for completion of construction, commencement of mine production and 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, and mine 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 future experience. 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, assumptions and 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-looking statements 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 and breakage; (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 future results 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 technical report 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 of Patrick 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 GeoStrat Consulting 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 in developing 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 mineral resources, and has conducted appropriate verification on the underlying data, including visitations to the Renard site and the primary process laboratories.

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Stornoway Diamond Corporation (TSX: SWY)

100% Ownership in Renard, Québec’s First Diamond MineRoad Accessible; Strong Social License; Fully Financed; Fully Permitted; First Production 2016

Construction ProgressAhead of Schedule; Reduced Forecast Cost to Complete

Strong Balance SheetFully Financed from July 2014 C$946m Project Financing Transaction; Excess Financing Capacity due to Subsequent F/X Gains on US$ Funds; COF Undrawn; Potential for Additional C$85m from In-the-Money Warrants

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KPIsAs of May 31st, 2016

Construction96% complete (compared to 90% plan, 82% initial plan)

BudgetForecast cost to complete of C$775m (compared to C$811m initial plan)

Mining8.9 mTonnes from R2, R3 and R65 open pits (101% of plan). 697,895 tonnes ore stockpiled (148% of plan).1,635m of ramp development (82% of plan).

ScheduleOn track for first ore processing by end-September 2016, and commercial production by end-December, 2016.

First Production GuidanceMarch 30, 2016 Updated Mine Plan

Diamond Production 0.22 Mcarats in FY2016 and 1.71 Mcarats in FY2017

Diamond Sales1.36 Mcarats in FY2017

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Capital Structure & Balance Sheet

Balance Sheet(2)

Cash and Equivalents $219 million

Total Debt $255 million

Undrawn Financing Commitments(3) $109 million

Project Finance SponsorsInvestissement Québec, Orion Mine Finance, CDPQ,

Blackstone Tactical Opportunities

1. As of June 14, 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) $1.02

52 week range $0.65 – $1.08

Market Capitalization(1) $756 million

Shares Outstanding 740.9 million

Warrants 114.7 million

Employee Options 31.6 million

Project Finance Sponsors

Institutional Retail and Insiders

50.2%38.5%

11.3%

Share Ownership(4)

Institutional Shareholders

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

Ticker Price(14/6/16)

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 ₽70.00 7,365.0 ₽515,547 (n/a) (n/a) ₽86.59 26% ₽1.47/sh

Dominion Diamonds DDC:T $12.57 85.1 $1,070.1 $23.63 0.5x $22.47 83% US$0.40/sh

Gem GEMD:LN £1.38 138.3 £190.5 £1.97 0.7x £1.73 28% US$0.05/sh

Lucara LUC:T $4.09 381.3 $1,559.5 $3.17 1.3x $3.92 -3% $0.06/sh

Petra PDL:LN £1.11 512.1 £565.9 £1.71 0.6x £1.47 35% £0.02/sh

Diamond Developers

Firestone FDI:LN £0.305 309.0 £94.2 £0.48 0.6x £0.37 22% (n/a)

Mountain Province MPV:T $6.20 159.7 $990.0 $6.64 0.9x $6.42 4% (n/a)

Stornoway SWY:T $1.02 740.9 $755.7 $1.41 0.7x $1.35 33% (n/a)

Diamond Explorers

Kennady Diamonds KDI:V $4.10 46.3 $189.6 (n/a) (n/a) (n/a) (n/a) (n/a)

North Arrow Minerals NAR:V $0.21 54.0 $11.3 (n/a) (n/a) (n/a) (n/a) (n/a)

Peregrine Diamonds PGD:T $0.205 339.1 $69.5 (n/a) (n/a) (n/a) (n/a) (n/a)

Shore Gold SGF:T $0.18 248.7 $44.8 (n/a) (n/a) (n/a) (n/a) (n/a)

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

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Mine PlanPlan and Guidance as of March 30, 2016

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Renard Diamond Project – Québec, CanadaThe Canadian Diamond Mine Connected by Permanent Road Access

Updated Mine PlanMineral Reserve Case Only, March 30, 2016

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1. 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 all costs, 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 are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated 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 65

Renard 9

Renard 4

Renard 3

Renard 2

Reserve Carats (M) 22.3Processing Rate (Mtonnes/annum) 2.2 to 2.5Mine Life (years) 14Average Diamond Production Years 1-10 (Mcarats) 1.8Average Diamond Price (US$/carat)1 $155Initial Cap-ex (C$M)2 $775LOM Cap-ex (C$M)2 $1,045LOM Op-ex (C$/tonne)3 $56.20LOM Op-ex (C$/carat)3 $84.37Gross Revenue (C$M)4 $5,565Net Revenue (C$M)5 $4,555Cash Operating Margin (C$M)5,6 $2,677 or 59%NPV7% (C$M, unlevered, effective Jan.1, 2016)5,6 $974Plant Commissioning Commences Oct. 1 2016Commercial Production Declared Dec. 31 2016

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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 ProductionAverage diamond production in Years 1 to 10 1.8 Mcarats/a compared to 1.6 Mcarats/a previouslyGuidance of 1.9 Mcarats produced and 1.4 Mcarats sold by end 2017, increases of 24% and 57% resp.

Processing ExpansionScheduled 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 DataLOM average operating costs of $56.20/tonne, or $84.37/carat.

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

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RENARD 65

RENARD 4

RENARD 9

RENARD 2

RENARD 3

RETURN AIR RAISE FRESH AIR

RAISEPORTAL

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 blasthole stoppage respectively

1

4

23

65

R3 OPEN PITR2 OPEN PITR65 OPEN PIT

Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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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.

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10

11

R3 OPEN PITR2 OPEN PITR65 OPEN PIT

RETURN AIR RAISE FRESH AIR

RAISEPORTAL

BACKFILL RAISES IN CROWN

PILLAR

410L

270L

710L

590L

470L

290L

400L

250L

860L

VENTILATION RAISE

MAIN RAMP

5

1

4

23

86

Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

RENARD 65

RENARD 4

RENARD 9

RENARD 2

RENARD 3

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Production ProfileMineral Reserve Case Only, March 30, 2016

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20300

500,0001,000,0001,500,0002,000,0002,500,0003,000,0003,500,000

Tonnes

UG R3UG R4UG R2OP R65OP R2/R3

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20300

500,000

1,000,000

1,500,000

2,000,000

2,500,000

Carats

R65R4R3CRBCRB2AR2

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031$0

$100$200$300$400$500$600$700

Gross Revenue(C$ millions)

Renard 65Renard 4Renard 3Renard 2

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

FS Nov 2011 OS Jan 2013 LNG FS Oct 2013 Updated Mine Plan Mar 2016

Current Mar 2016$500

$600

$700

$800

$900

$1,000

$1,100

$994.4 $18.5$35.0

$2.9

$1,045.0

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

FS Nov 2011 OS Jan 2013 LNG FS Oct 2013 Execution Plan Apr 2014

Updated Mine Plan Mar 2016

Current Mar 2016

$500

$550

$600

$650

$700

$750

$800

$850

$900 $859.1

$1.9$11.9

$61.9$35.6

$775.4

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.

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50

100

150

200

250

300

350

Inde

x to

200

9=10

0

US$ May 2011

Renard Sample Valuation Assessments

March2013

March 2014

C$

March2016

Renard Diamond Price AssumptionsMarch 30, 2016 Updated Mine Plan

BodyMarch 2014 Diamond

Price Model1 (US$/carat)

Estimated Market Price Adjustment Mar

2014 to Mar 2016

Adjusted Price Estimates March

2016: “Spot” Price Models2 (US$/carat)

Renard 2 $197(High $222, Min $178)

-19%

$160(High $181, Min $145)

Renard 3 $157(High $192, Min $146)

$128(High $156, Min $119)

Renard 4 $106 ($155)3

(High $174, Min $100)$86 ($126)3

(High $141, Min $81)

Renard 65 $187(High $190, Min $160)

$152(High $155, Min $130)

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

Mine Plan Financial Analysis assumes a 2.5% real terms diamond price escalation between 2016 and 2028

The Renard Streaming Agreement includes a payment of US$56 per carat on 20% of ROM production from Renards 2,3,4,9 and 65, Life-of-mine, escalating at 1% per annum after the 3rd anniversary of production, inclusive of marketing costs.

1. As determined WWW International Diamond Consultants Ltd. at a +1 DTC sieve size cut off.2. As determined by applying the world average rough price index of roughrices.com to the March 2014 price models, at a +1

DTC sieve size cut-off. 3. Should the Renard 4 diamond population prove to have a size distribution equal to the average of Renard 2 and 3, WWW

have estimated that a base case diamond price model of US$155 per carat would apply based on March 2014 pricing, equivalent to US$126 per carat on a market price adjusted basis to March 2016.

The weighted average price of the March 2016 Probable Mineral Reserve is US$155/ct, or C$209/ct, in March 2016 terms

Average life-of-mine pricing is US$185/ct or C$250/ct, or US$159/ct or C$214/ct after stream.

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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, for the March 2016 Updated Mine Plan and the July 2014 Renard Streaming Agreement

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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)

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Progress ReportAs of May 30, 2016

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Renard Project SiteApril 2016

R2 & R3 PitCrusher

UG Mine Portal

R65 Pit Power Plant

Process Plant

Maintenance Shop

Admin/Dry

Accommodation

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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: 0.9Québec Mining Industry: 1.0

“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

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Construction Progress to May 31, 2016

22

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

23

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

Processed Kimberlite ContainmentDry Stacking Processed Kimberlite

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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.

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Water ManagementCollecting and Treating 100% of Site Surface Precipitation

PKC

Waste Rock

Overburden

UG Mine Portal

Process Plant

Mine Waste Water Treatment Plant

Collection Trench

Pumping Station

Camp Waste Water Treatment Plant

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

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 < 230mmTwin DMS circuits at +1mm -19mmLDR circuit at +19mm -45mm, scalable to -60mmOversize +45mm to secondary cone crusherLDR 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.

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Ramp-Up Schedule

M10

-201

6

M11

-201

6

M12

-201

6

M1-

2017

M2-

2017

M3-

2017

M4-

2017

M5-

2017

M6-

2017

M7-

2017

M8-

2017

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

35,154

82,005

108,000

126,000 135,000

145,801

162,000 171,000

180,000 180,000 180,000

Mill

Fee

d (t)

100% Nameplate Ca-pacity

Commercial Production60% Nameplate Capacity for 30 days

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Open Pit MiningKPIs to May 31, 2016

Actual Plan %

Tonnes Mined, R2-R3/R65 8,883,853 8,753,296 101%

Tonnes Ore Stockpiled 697,895 473,126 148%

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

29

Underground Mine Ramp DevelopmentKPIs to May 31, 2016

Actual Plan %

Ramp Development (m) 1,635 2,003 82%

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Looking ForwardCommissioning, Ramp-Up, Resource Reconciliation, Growth

31

Areas of Focus

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

OpportunitiesConstruction pace and performance

Operating environment

Large Diamonds

Renard Resource Upside

Growth: Exploration and M&A

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0

20

40

60

80

100

120

140

160

180

Resource Growth at Renard

2004 2006 2008 2009 2011 2013 20150

50

100

150

200

Mill

ions

of T

onne

s

Resource Growth, 2004-20150m

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 and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated 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 65

24/29cpht

Renard 9

53cpht

Renard 461/52cp

ht

Renard 3102/112cp

ht

Renard 284/59cp

ht TFFE High Range

Inferred Mineral Resource

TFFE Low Range

Indicated Mineral Resource

Conceptual

R7R1 R65

R4 R9

R2R3

N.W. 4 km S.E.

R10

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Resource Reconciliation

Step 1: Reconcile actual pipe geology with geological model (Successful example from Renard 3 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)

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

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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 PotentialDistribution 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.

1000T storage bin with overflow to stockpileRe-load hopper

HPGR

Cone crusher

Scrubber and screening

Process office and MCC’s

DMSPK mixer Centrifuge

Air compressors

Thickening

Wet screening

Cold storage

Dryscreening

Process Water

35

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-Couzyn as 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.

36

Exploration & AdamantinStornoway 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.

5

57

0 0

572

00

00

27

5

57 300

57300

57300

00

00

37

5

00

37

5 7 3 5

0527

5735

0

0

300

57300

57300

5

0 5 2 7 5

0 52 7

5

0527

5

5 7 3 0 0

05

27

5

0 5

00

27

5

57350

0 3 7 5

0037

5 7 3 5 0

5

75

0 5 2 7 5

037

5

003

7

7350

275

0 5 2 7

5 275

05

2

3 0 0

5725

57 300

57300

573

02

7 5

0

002

75

00275

5

00

37

5

0

5

0 0 3 7 5

0

5 7 3 0 0

057300

573

00

5 7300

0

57350

52

75

0527

5725

0

5

05 2

7 5

0

5 7 2

5

0037

5

5 7 3 0

5 7

0

57350

5 7 3 50

57400

5

0 52 7

5

0

7300

5 7

002753 0 0

0 5

5725

0

05

27 5

05

275

05

27

5

0 5 2 7 5

05

275

57250

1 75

AD-50AD-51

AD-52260m

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-52Edge?

AD-50 AD-52

37

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 Guidance0.22 Mcarats Produced in FY2016 and 1.71 Mcarats in FY20171.36 Mcarats Sold in FY2017Operating and Sustaining Capital Costs

Maintain Balance Sheet Strength

38

Appendix

39

History of the Renard Diamond ProjectQuébec’s First Diamond Mine

1996: Start of initial regional exploration by Ashton & SOQUEM

2001: First kimberlite discovery

2001-08: Drilling, “mini-bulk” sampling, bulk sampling

2006: Stornoway acquires Ashton

2008-10: First NI 43-101 Resource and PEA

2011: Stornoway acquires SOQUEM’s 50% project interest

November 2011: Feasibility Study issued. First mineral reserve

December 2012: ESIA filed

February 2012: Road construction commences under Plan Nord

March 2012: “Mecheshoo Agreement” executed

Nov.-Dec.2012: Mining Lease and Québec Authorizations issued

January 2013: Optimization Study issued

July 2013: Federal Canadian Authorizations Issued

September 2013: Road opens

April-July 2014: $C946m financing completed. Construction commences

December 31, 2016: Scheduled Commercial Production

Chibougamau

Montréal

Toronto

800km

360km

Renard

40

Chronology of Renard StudiesFeasibility Study (Nov 2011. NI 43-101 Technical Report Dec 2011)

11 Year Mine Plan based on 18 million carat Mineral Reserve derived from January 2011 NI 43-101 Resource.

Long Term Business PlanCompanion study to the Feasibility Study with extended mine plan incorporating Inferred Mineral Resources. Basis of mine design and permitting

Optimization Study (Jan 2013. NI 43-101 Technical Report Mar 2013)Refined Feasibility mine design, including shaft deferral and a modified underground mining sequence.

11 Year Mine Plan based on 17.9 million carat Mineral Reserve.

Mineral Resource Update (July 2013) Resource update with 14% increase in Indicated Resource contained carats

LNG Feasibility Study (Oct 2013) Modified project Cap-ex and Op-ex for LNG powered gen-sets

Mineral Resource Update (Sep 2015. NI 43-101 Technical Report Oct 2015)Resource update with 11% increase in Indicated Resource contained carats

Updated Mine Plan and Mineral Reserve Estimate (Mar 2016. NI 43-101 Technical Report Mar 2016)Update based on 2013 & 2015 Mineral Resource Updates, accelerated construction schedule, and expanded processing

14 Year Mine Plan based on 22.3 million carat Mineral Reserve

41

Stornoway Board and Management Team

Head Office: Longueuil, Québec

Exploration Office: North Vancouver, BC

Community Offices: Mistissini & Chibougamau Québec

Hume KyleIndependent

John LeBoutillierIndependent/ IQ Designate

Ebe ScherkusIndependent/Board Chairman

Non-Executive Directors

Marie-Anne TawilIndependent/ IQ Designate

Peter NixonIndependent

Serge VézinaIndependent

Douglas SilverOrion Designate

Gaston MorinIndependent/ IQ Designate

Pat GodinCOO & Director

Matt Manson President, CEO& Director

Executive Officers

Rob ChausseCFO

Annie Torkia-LagaceVP Legal

Orin BaranowskyVP IR & Corp. Dev

42

NI 43-101 Probable Mineral ReservesMarch 30, 2016

Probable Mineral Reserve(1,2,4)

(Changes from January 2013 Probable Mineral Reserve estimate shown in italics)Mining Recovery Factors Utilized in the

Reserve Calculation

Carats (millions) Tonnes (millions) Grade (cpht)(3)

Mining Dilution(5)

Internal Dilution(6)

Mining Recovery

Open PitRenard 2, All Units 1.85 49% 3.54 170% 52.2 -45% 2.9% 0.0% 98% Renard 2 1.38 11% 1.49 14% 92.7 -2% 1.7% 0.0% 98% CRB-2A 0.15 n/a 0.47 n/a 31.4 n/a 1.8% 0.0% 98% CRB 0.32 n/a 1.58 n/a 20.2 n/a 4.3% 0.0% 98%Renard 3 0.73 9% 0.79 10% 92.3 -1% 11.4% 0.0% 98%Renard 4 -- n/a -- n/a -- n/a -- -- --Renard 65 1.38 n/a 4.58 n/a 30.1 n/a 3.5% 0.0% 98%

OP Probable Mineral Reserves 3.96 107% 8.91 339% 44.4 -53% 3.9% 0.0% 98%

UndergroundRenard 2 15.65 15% 19.68 16% 79.6 -1% 20.2% 6.4% 82%Renard 3 0.86 2% 1.22 22% 70.2 -16% 14.0% 29.8% 85%Renard 4 1.67 6% 3.46 -7% 48.3 15% 14.0% 2.2% 78%Renard 65 -- n/a -- n/a -- n/a -- -- --

UG Probable Mineral Reserves 18.18 13.4% 24.36 12.0% 74.6 1% 18.9% 6.7% 82%

StockpileStockpile 0.11 n/a 0.15 n/a 73.9 n/a -- -- --

Total Probable Mineral Reserves 22.26 24.0% 33.42 40.5% 66.6 -11.3% 14.8% 4.9% 86%

Notes1 Reserve categories follow the CIM Standards for Mineral Resources and Mineral Reserves.2 Totals may not add due to rounding.3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual Information Form dated March 2016).5Represents the proportion of waste rock expected to be extracted during mining. Mining dilution is assumed to have zero grade.6Represents planned dilution of waste rock through stope design in the underground mine. 7Represents mine and stockpiled ore as of December 31, 2015

43

Reserve categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves".

Renard 286%

Renard 35%

Renard 49%

Carats

Renard 281%

Renard 35%

Renard 414%

Tonnes

Underground Probable Mineral Reserves

Open-Pit Probable Mineral Reserves

Kimb2a/Kimb2b

35%

CRB-2A4%CRB

8%

Renard 319%

Renard 6535%

Carats

Kimb2a/Kimb2b

17%

CRB-2A5%

CRB18%

Renard 39%

Renard 6551%

Tonnes

NI 43-101 Probable Mineral ReservesMarch 30, 2016

44

Inferred Mineral Resources

Indicated Mineral Resources

High Range TFFE

Renard 65775m depth

Renard 4775m depth Renard 9

775m depth

Renard 21,250m depth

Renard 31,250m depth

Indicated Mineral Resources(1,2,4)

Contained Carats (millions) Tonnes (millions) Grade (cpht)(3)

Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4%Renard 2, w/o CRB-2A, CRB 20.39 +11.0% 20.52 +15.9% 99 -4.3%

CRB-2A 0.29 +2.6% 0.90 +2.6% 32 --CRB 0.90 n/a 4.28 n/a 21 n/a

Renard 3 1.86 +2.3% 1.82 +3.4% 102 -1.0%Renard 4 4.44 +3.0% 7.25 -- 61 +3.0%Renard 65 2.30 -- 7.87 -- 29 --

Total Indicated Mineral Resources 30.17 +11.4% 42.63 +20.2% 71 -7.4%

Inferred Mineral Resources(1,2)

Contained Carats (millions) Tonnes (millions) Grade (cpht)(3)

Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2%Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9%CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5%

Renard 3 0.61 -- 0.54 -- 112 --Renard 4 2.46 +3.5% 4.75 -- 52 +3.5%Renard 65 1.18 -- 4.93 -- 24 --Renard 9 3.04 -- 5.70 -- 53 --Lynx 1.92 -- 1.80 -- 107 --Hibou 0.26 -- 0.18 -- 144 --

Total Inferred Mineral Resources 13.35 -20.8% 24.49 -17.5% 54 -4.0%

Notes1 Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. 2 Totals may not add due to rounding.3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual Information Form dated July 2015).

Renard Diamond Project NI 43-101 Mineral Resource EstimateEffective September 24 2015. Changes to Previous Estimate Shown in Italics

North East View

45

Renard Diamond Project Exploration PotentialEffective September 24 2015. Changes to Previous Potential Shown in Italics

Notes1 Target for Further Exploration: represents potential upside that can be reasonably assumed given the nature and grade of material within the current 2015 Mineral Resource. The Renard 2 shape has been projected 250m below the deepest kimberlite intersection at 1,000m depth. Tonnage and grade ranges are not directly applicable to potential total carats.The potential quantity and grade of any Exploration Target is conceptual in nature, there has been insufficient information to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off.

R10 R7 R1 R65

R4 R9R2

R3

NW 4 km SE

NotesResource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Area indicated in yellow represents a gap in drill coverage that may represent additional exploration potential outside of the current Mineral Resource Estimate and not included in the current Targets for Further Exploration.

Inferred Mineral Resources

Indicated Mineral Resources

High Range TFFE

Renard 65775m depth

Renard 4775m depth Renard 9

775m depth

Renard 21,250m depth

Renard 31,250m depth

North East ViewTargets for Further Exploration(1)

Contained Carats (millions) Tonnes (millions) Grade (cpht)(2)

Renard 1 1.7 to 3.9 8.6 to 13.0 20 to 30

Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100

Renard 3 3.6 to 6.3 3.4 to 3.8 105 to 168

Renard 4 5.6 to 11.8 11.1 to 15.4 50 to 77

Renard 65 7.3 to 13.5 29.0 to 40.9 25 to 33

Renard 7 1.9 to 3.8 6.3 to 9.4 30 to 40

Renard 9 2.0 to 4.3 3.9 to 6.3 52 to 68

Renard 10 0.7 to 2.1 1.2 to 1.7 60 to 120

Lynx 3.0 to 3.8 3.1 to 3.2 96 to 120

Hibou 3.6 to 6.1 3.5 to 4.0 104 to 151

Total TFFE 33.0+28% to 71.1

+40%76.2+49% to 113.2

+51%

46

Renard 2 Mineral Resource UpdateEffective September 24 2015. Changes to Previous Estimate Shown in Italics

Notes1 Reserve and Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. 2 Totals may not add due to rounding.3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual Information Form dated July 2015).

Notes1 Represents potential upside that can be reasonably assumed given the nature and grade of material within the current 2015 Mineral Resource. The potential quantity and grade of any Exploration Target is conceptual in nature, there has been insufficient information to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off.

Indicated Mineral Resources(1,2,4)

Contained Carats (millions) Tonnes (millions) Grade (cpht)(3)

Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4%

Renard 2, w/o CRB-2A, CRB 20.39 +11.0% 20.52 +15.9% 99 -4.3%

CRB-2A 0.29 +2.6% 0.90 +2.6% 32 --

CRB 0.90 n/a 4.28 n/a 21 n/a

Inferred Mineral Resources(1,2)

Contained Carats (millions) Tonnes (millions) Grade (cpht)(3)

Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2%Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9%CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5%

Target for Further Exploration(1)

Contained Carats (millions) Tonnes (millions) Grade (cpht)(2)

Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100

Pipe shape at surface (1.89ha)

High TFFE at 1,250m (1.38ha)

0m

700m

850m

1250m

INDICATED

INFERRED

TFFE

600m: Base of Previous Indicated Mineral Resources

Depth Below Surface

Kimberlite outlineat surface (0.75ha)

Low TFFE at 1,250m (0.62ha)

Base of New Indicated Resources (1.55ha)

North View

Pinch in model in area lacking drill coverage

47

Renard 2 Geological Model and Unit GradesEffective September 24 2015. Changes to Previous Estimate Shown in Italics

Notes1 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.2 Represents the average amount of non-diamond bearing country rock estimated within each geological unit. 3 The Kimb 2c (Hypabyssal Kimberlite, or “HK”) unit is a constituent component of each of the Kimb2a, Kimb2b, CRB and CRB-2a units.

West View

Kimb2b (“Brown”)

Kimb2a (“Blue”)

CRB CRB-2a

Kimb2c (HK)

Contact

Photographs of geological units from the 2007 Renard underground bulk sample program

Within the Indicated Mineral Resources

Average Grade (cpht)(1) Average Dilution (%)(2)

Kimb 2a (“Blue”) 76 +3.0% 52 -0.9%Kimb 2b (“Brown”) 145 +1.0% 30 -0.9%Kimb 2c (HK)3 229 +0.5% 12 -3.1%CRB-2a 32 -- 93 --CRB 21 n/a 96 n/a

Within the Inferred Mineral Resources

Average Grade (cpht)(1) Average Dilution (%)(2)

Kimb 2a (“Blue”) 67 -2.4% 65 +9.2%Kimb 2b (“Brown”) 145 +0.3% 30 +1.5%Kimb 2c (HK)3 229 +0.5% 12 -3.1%CRB 21 +10.5% 96 --

Pinch in model in area lacking drill coverage

0m

700m

850m

1250m

INDICATED

INFERRED

TFFE

600m: Base of Previous Indicated Mineral Resources

Depth Below Surface

North View

Renard 2 Average Mineral Resource Grades, by Geological Unit

48

Renard 2 Geological Model and Renard 2-Renard 3 ConvergenceEffective September 24 2015

Pipe shape at surface (1.89ha)

Kimberlite outlineat surface (0.75ha)

Kimb2b (“Brown”)

Kimb2a (“Blue”)

CRB

CRB-2a

Surface View, Looking Down

Renard 2

Renard 3

126.6m R3 intersection in DDH R2-81J (in red) starting 942.2m downhole: 47m true width.

0m

700m

850m

1250m

R2 INDICATED

R2 INFERRED

R2 TFFE

Depth Below Surface

R3 INDICATED

R3 INFERRED

R3 TFFE

North East View

Resource categories were completed in accordance with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target is conceptual in nature, there has been insufficient information to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Renard 2 Renard 3

R3 TFFE: >500m potential between drill intersections

49

Jan 2013 Opt. Study, before

Stream1,2

2016 Mine Plan Update, after

Stream1,2

Total Operating Cost (C$M)3 $1,352 $1,878

Ore Production (Mt) 23.8 33.4

Diamond Production (Mct) 17.9 22.3

Production CostC$57.63/t C$56.20/t

C$76.63/ct C$84.37/ct

Total Gross Revenue (C$M) $4,268 $5,565Total Net Revenue (C$M) $4,069 $4,555Marketing Costs (%) 2.7% 1.8%DIAQUEM Royalty (%) 2.0% 2.0%Cash Operating Margin (C$M) $2,693 $2,677% Operating Margin 67% 59%Operating Margin (C$/ct) $151.05 $120.04

Life of Mine Operating ParametersMarch 30 2016 Updated Mine Plan

96.6331752093938; 5%

612.95148738567; 33%

568.439570267148; 30%

600.407398547344; 32%

Operating Expenses (C$M and % of OPEX)

Open Pit Mine

Underground Mine

Concentrator

G&A and In-frastructure

20162018

20202022

20242026

20282030

$0 $20 $40 $60 $80

$100 $120 $140 $160 $180

Operating Expenses (C$M)

G&A and In-frastructure

Concentrator

Underground Mine

Open Pit Mine

Notes

1. March 2016 study shown net of the July 2014 Renard Streaming Agreement, Diaquem royalty and marketing costs in terms of net revenue, Cash Operating Margin and NPV. For further information on the Renard Streaming Agreement see the Stornoway Annual Information Form dated March 30, 2016

2. January 2013 Optimization expressed in October 2012 terms. March 2016 Updated Mine Plan expressed in December 2015 terms.

3. Expressed in December 2015 real terms.

50

Capital ExpendituresMarch 30 2016 Updated Mine Plan. Project Costs of $548.5 million Committed or Incurred to Dec 31 2015

Initial CapitalSite Preparation & General $ 45.1

Mining $ 57.1

Mineral processing plant $ 137.7

Onsite utilities and infrastructures $ 111.1

Network and Distribution $ 15.9

Offsite utilities and infrastructures $ 0.3

Pre-production and Ramp-up $ 88.5

Project indirect costs $ 153.9

Professional Services $ 44.6

Construction indirect costs $ 38.5

Contingency $ 57.5

Escalation $ 25.3

Total Initial Capital $ 775.4

Sustaining and Deferred Capital

Open Pit $ 16.1

Underground $ 222.5

Process Plant $ 12.5

Admin. & Infrastructure $ 3.7

Power Plant and Airport $ 13.7

Total Sustaining/Deferred Capital $ 268.5

Total LOM Capital $ 1,045

20162017

20182019

20202021

20222023

20242025

20262027

20282029

2030 $-

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100 Capital Costs, 2016 to 2030 (C$M)

Process plant Adm. & Infra. Power Plant & Airport

Open pit Underground Initial Capital

2016 Initial Capital equals $282 million

Sustaining and Deferred Capital Costs(C$M and %)

Open pit Process plant Adm. & Infra.

Power Plant & Airport Underground Notes: expressed in December 2015 nominal terms and excluding Renard Mine Road capital of $69.4 million. Totals may not add up due to rounding.

51

ContractingWhere we are Spending the Money: 2015 Data

Quebec, $324M

Ontario, $43M

USA, $23M South Africa, $6M

Other, $4MC$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, $53M Other, $39M

Chaudiere Ap-palaches, $28M

Bas St-Laurent, $21MMontreal-Laval, $74M

Saguenay Lac St-Jean, $14M

Contractors at Mine Site in 2015Construction 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

52

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

53

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

Other Communities (CA)

Other Communities (QC)

Quebec

Saguenay Lac-St-Jean

Montreal

Abitibi-Témiscamingue

Other Communities NQ

Chapais

Chibougamau

Other Cree Communities

Mistissini

0 10 20 30 40 50 60

11

19

27

40

41

49

8

19

58

5

43

42% Northern Quebec

55% Other

Quebec

3% Other

Canada

54

Targeted Contracting for Small and Local SuppliersStornoway 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.

169134

50

Numbers of Contracts for Goods and Services in Québec2015 Data

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

55

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

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 Renard Committee, 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 Mistissini and the Grand Council of the Crees (EI), and our 2012 Declaration of Partnership with Chibougamau and Chapais.

56

Community Engagements

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

57

58

Stornoway Diamond Corporation TSX:SWY, TSX:SWY.WT.A, TSX:SWY.DB.U

Head Office:1111 Rue St. Charles Ouest,

Longueuil, Québec J4K 4G4

Tel: +1 (450) 616-5555

IR Contact:

Orin Baranowsky, CFA, VP IR and Corp Dev

obaranowsky@stornowaydiamonds.com

Tel: +1 (416) 304-1026 x2103

www.stornowaydiamonds.com

Info@stornowaydiamonds.com