..... . ..... . Forward-Looking Statements All information included - PowerPoint PPT Presentation

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Forward-Looking Statements All information included in this presentation, including any information as to Teranga’s future financial or operating performance and other statements that express management’s expectations or estimates of future performance, other than statements of historical fact, constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans relating to the future. Wherever possible, words such as “plans”, “expects”, “scheduled”, “trends”, “indications”, “potential”, “estimates”, “predicts”, “anticipate”, “to establish”, “believe”, “intend”, “ability to”, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are "likely" to be taken, occur or be achieved, or the negative of these words or other variations thereof, have been used to identify such forward-looking information. Specific forward-looking statements include, without limitation, all disclosure regarding future results of operations, economic conditions and anticipated courses of action. Although the forward-looking statements contained herein reflect management's current beliefs and reasonable assumptions based upon information available to management as of the date hereof, Teranga cannot be certain that actual results will be consistent with such forward-looking information. Such assumptions include, among others, the ability to obtain any requisite governmental approvals, the accuracy of mineral reserve and mineral resource estimates, gold price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Teranga cautions you not to place undue reliance upon any such forward-looking statements. The risks and uncertainties that may affect forward-looking statements include, among others, the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga. For a more comprehensive discussion of the risks faced by Teranga, and which may cause the actual financial results, performance or achievements of Teranga to be materially different from estimated future results, performance or achievements expressed or implied by forward-looking information or forward-looking statements, please refer to Teranga’s latest Annual Information Form filed with Canadian securities regulatory authorities at www.sedar.com or on Teranga’s website at www.terangagold.com. The risks described in the Annual Information Form (filed and viewable on www.sedar.com and on Teranga’s website at www.terangagold.com) are hereby incorporated by reference herein. Teranga disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities. All references to Teranga include its subsidiaries unless the context requires otherwise. This presentation contains references to Teranga using the words “we”, “us”, “our” and similar words and the reader is referred to using the words “you”, “your” and similar words. All dollar amounts stated are denominated in U.S. dollars unless specified otherwise. 2

Sabodala – Flagship Asset Generating Free Cash Flow to Fund Growth Mid-Tier Producer with Sabodala Wahgnion Golden Hill Miminvest & Exploration Gold Mine Gold Mine Project Afema JVs & Resource Scale and (Côte d’Ivoire) Conversion (Senegal) (Burkina Faso) (Burkina Faso) Diversification 3 3

Land Package Sabodala Land Package Senegal, West Africa 291 km 2 Mine License 629 km 2 Exploration Land Package 4

Overview of Sabodala First Industrial Large-Scale Gold Mine & Mill in Senegal • First gold pour in March 2009 Exploration • • $500M+ invested to date Mine license and regional land package • Looking for satellite & standalone mill-friendly deposits and heap leachable deposits Operations • Conventional shovel and truck open pit mining (4 pits) Corporate Social Responsibility (CSR) • 40Mtpa capacity with 4 shovels and 24 trucks (100t) • Mine-site examples • Wider community initiatives (i.e. market garden, accommodations) Processing Facility • Niakafiri village relocation a world-class resettlement setting the • Two stage crushing, parallel primary crusher commissioned in Q3 benchmark for resettlements in Senegal 2016: SAG mill, 2 ball mills, CIL plant • 3.5Mtpa design throughput rate with 100% fresh ore, 4.0Mtpa throughput with 75% fresh/25% oxide ore 5

1.7Moz of Gold Produced Since December 2010 Record Annual Production 3-Years Running (Koz Au) +5% 215,000 - 230,000 gold ounces (2) …………………………………… .. SABODALA’S 2019 GUIDANCE 245 233 217 214 212 207 182 131 17 Dec. 2011 2012 2013 2014 2015 2016 2017 2018 2010 (IPO) 6 Refer to Endnote (2) in the Appendix

10-Year Track Record at Sabodala Key Highlights Key Highlights Key Highlights Key Highlights Key Highlights Completed second mill expansion Acquired remaining stake in Oromin Commenced resettlement of village Teranga acquired Sabodala gold Completed mill expansion (~4.3Mt) Joint Venture Group surrounding Niakafiri deposit mine and completed IPO CSR Achievement CSR Achievement CSR Achievement CSR Achievement CSR Achievement Began reporting according to Global Started the Gora community investment Launched regional development Successfully implemented the Establish vision to set the Reporting initiative standards & fund to mitigate the loss of illegal artisanal strategy setting out long-term Resettlement Action Plan for benchmark for responsible implemented ISO 14001 compliant mining with long term solutions priorities and areas of development Niakafiri Deposit mining in Senegal environmental management system 2012 2010 2011 2013 2014 2016 2017 2018 2015 Key Highlights Key Highlights Key Highlights Key Highlights Commenced mill expansion to Acquired 43.5% of Initiated mill expansion project add Received approvals required to increase milling capacity Oromin Joint Venture Group secondary crusher commence drilling at Niakafiri deposit CSR Achievement CSR Achievement CSR Achievement CSR Achievement Launched corporate social Established long-term fiscal and Submitted the first Senegalese Extractive PDAC Environmental & Social responsibility program investment agreement with Government Industries Transparency initiative report to Responsibility Award of Senegal improve in-country transparency of industry UN Global Compact Award & Corporate revenues Knights Future 40 7

Occupational Health & Safety 8

Safety Record Amongst Best in Industry (based on LTIs per million hours worked) Local Health & Safety Improvement Contributions • Effective anti-malaria programs including indoor spray programs, ULV fogging, larvacide treatment of nearby water at site and near- 0.53 mine villages • Active participation in local and regional health initiatives • Vaccination campaigns LTI frequency rate at SGO …………………………………… .. • First rate occupational health and safety training for all employees WELL BELOW INDUSTRY AVERAGE* OF • 5.81 LTIs PER MILLION HOURS WORKED Annual disaster management planning exercises • Logistical support for gendarmes *Based on mining profile of ANZSIC 2006, 2016/17 for metal ore mining • Open discussion on health issues with regional health authorities Safety culture promoted at work is strongly transferred to the homes of our employees 9

Health & Safety Statistics Year-to-Date Annual Occupational Health & Environmental Audit Annual Improvement Incident with Injury Hours Worked 2,651,925,31 Injury Rating Total 2018 First Aid Injury 34 Medical Aid Injury 5 Environment Audit Lost Time Injury 2 Total Injuries 41 Health Audit Note : Legend for above scoring: 0 - 20% - No process developed or implemented 20 - 40% - Informal or incomplete process 40 - 60% - Formal process implemented and functional with general conformance to the requirements of the OHSAS & ISO Standards 60 - 80% - As above, and with effective internal review processes, auditing and continual improvement 80 - 100% - Fully complies with international external OHSAS18001:2007 and ISO14001:2004 certification requirements 10