CEO Presentation 2021 Annual General Meeting

Mount Gibson Iron Limited

onlyMGX useersonal

Annual General Meeting

CEO Presentation

10 November 2021

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Disclaimer

ersonal use only

This Document is Confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose without prior written approval from Mount Gibson Iron Limited.

This Document is not a Prospectus nor an Offer to Subscribe for Shares.

Mount Gibson Iron Limited and its subsidiaries (ASX:MGX, "MGX") make no representations or warranties (express or implied) as to the accuracy, reliability or completeness of this document. MGX and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (expressed or implied) arising out of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded.

This document contains reference to certain forecasts, projections, intentions, expectations and plans of MGX, which may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ.

The performance and operations of MGX may be influenced by a number of factors, uncertainties and contingencies many of which are outside the control of MGX and its directors.

No representation or warranty (expressed or implied) is made by MGX or any of its respective directors, officers, employees, advisers or agents that any forecasts, projections, intentions, expectations or plans set out in this document will be achieved, either totally or partially, or that any particular rate of return will be achieved.

Investments in shares in MGX are considered highly speculative.

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Corporate Overview

Issued shares	1,211 million shares
onlyIndex	ASX-300
Market capitalisation	A$0.5 billion ($0.40/share)
Cash/investments	A$250 million (30 September 2021)
Bank Borrowings	Nil
Dividends	A$332 million (fully franked) paid since 2011
use	Shareholder Distribution (% issued shares at 30 September 2021)
			APAC Resources			0.5%
ersonal
		Australia/NZ Institutions	0.5%	14.8%
		Shougang Fushan
				2.5%	36.7%
			Australian/NZ Retail
			North America		15.7%
			UK & Europe
			Directors & Management		6.3%
			Other			9.2%
					13.8%

Asia/Middle East

MGX Share Price

(A$/share)	1.20
1.00
Price	0.80
0.60
Share	0.40
0.20
	0.00

Board and Management

• Lee Seng Hui - Non-Executive Chairman
• Simon Bird - Lead Independent Non-Executive Director
• Russell Barwick - Independent Non-Executive Director
• Paul Dougas - Independent Non-Executive Director
• Alan Jones - Independent Non-Executive Director
• Ding Rucai - Non-Executive Director
• Peter Kerr - CEO
• Mark Mitchell - COO
• Gillian Dobson - CFO
• David Stokes - Co. Sec. & General Counsel

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Koolan Island

Kimberley Region

Business Overview

only	•	High grade hematite Direct Shipping Ore (DSO) with a
	65.3% Fe ore reserve grade*.
•	Ore sales 1.8 Mwmt in 2020/21 financial year, targeting sales of
	2.0 Mwmt in 2021/22, with grades rising in June half.
•	Elevated waste stripping phase progressing toward planned
		completion in 2021/22.
	•	Sales and cashflow to rise as stripping phase is completed.

Mid-West Region

use		Shine Project, Extension Hill, Geraldton Port
	• Operations now suspended following rapid deterioration of
		market conditions. Site held on care & maintenance for prompt
		restart if conditions justify.
		• Extension Hill site rehabilitation progressing to plan, after
		successful completion of low grade sales program in late 2020.
		• Mid-West rail refund stream accruing at ~$2 million/quarter,
	Koolan Island shiploading	based on third party rail volumes on segments of the Mid-West
	network. Capped at $35M (indexed), ~$18M earned to date.
*As at 30 June 2021. Refer Mineral Resources and Ore Reserves slide at the end of this presentation and ASX release dated 8 October 2021.
Mwmt = million wet metric tonnes.		4
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Steady progress of the major waste stripping program, with shipments and quality to increase significantly in 2022

Koolan Island

Koolan 1.8 Mwmt

Mid-West1.2 Mwmt

Sales of 3.0 Mwmt

Developed and successfully

commissioned but now moving to staged suspension given market conditions after year end

Shine Project

On sales revenue of

$312 million FOB

NPAT of $64.0 million

FY2021 Highlights

(all currency in Australian dollars unless stated otherwise):

onlyuse ersonalMwmt = million wet metric tonnes. FOB = Free on Board. DRP = Dividend Reinvestment Plan. NPAT = net profit after tax.

Operating cashflow of

$165.2 million

Before interest income ($6.9m),

mine development ($185m),

equipment purchases ($30m) & the prior year cash dividend ($16.3m)

Final dividend of

2.0 cents per share

Paid in a combination of cash and new shares issued under the DRP in October 2021

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