FY19 Final Results Presentation Disclaimer This presentation does - PowerPoint PPT Presentation

June 2020 FY19 Final Results Presentation

Disclaimer This presentation does not constitute, or form part of, any offer to sell or issue or any solicitation of any offer to purchase or subscribe for, any shares in Trans-Siberian Gold Plc (“TSG” or the “Company”), nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, or act as an inducement to enter into any contract or agreement thereto. Any potential investor is made aware that an investment in any form of equity carries the risk of a potential total loss of the invested capital. Potential investors are therefore advised to seek professional investment, legal or tax advice prior to making any investment in the Company. Certain forward-looking statements may be contained in the presentation which include, without limitation, expectations regarding metal prices, estimates of production, operating expenditure, capital expenditure and projections regarding the completion of capital projects as well as the financial position of the Company. Please note that past performance is no reliable indicator of future results: although TSG believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be accurate. Accordingly, results could differ from those projected as a result of, among other factors, changes in economic and market conditions, changes in the regulatory environment and other business and operational risks. Accordingly, TSG nor any of TSG' directors, officers, employees, advisers, associated persons or subsidiary undertakings shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon this presentation or any future communications in connection with this presentation and any such liabilities are expressly disclaimed. This information is confidential and must not be passed to any third parties except to personal investment, legal or tax advisors of the addresses. As of June 2020 Trans-Siberian Gold 2 A low cost, high grade gold producer in Russia

Introduction An Established Gold Producer in Far East Russia Low Cash Cost operation: 100% owner and operators of High grade underground Gold in doré production: US$513/oz. Asacha & Rodnikova deposits mining operations 43,479 oz. forFY19 Trans-Siberian Gold 3 A low cost, high grade gold producer in Russia

Introduction An Established Gold Producer in Far East Russia Highlights Strong institutional Shareholders Supportive, long-term shareholders: Majority owned by UFG Asset Management (~65%) Record production of 43,479 oz gold in doré in 2019 Low Cost (FY18: 42,128 oz) GoldProducer Revenue of $63.1m in 2019 (FY18: $59.8m) Attractive Dividend Committed to shareholder returns: $4m in dividends paid for FY 2019. + $9.5m share buyback in May 2019 Financial Robustness Experience Board with robust corporate governance High grade mine: 7.8 g/t average in 2019 (FY18 average: 7.4 g/t) Opportunities Recent award of Rodnikova licence Experienced Low energy costs due to Far East Russia subsidies Board Favourable Mining Jurisdiction Trans-Siberian Gold 4 A low cost, high grade gold producer in Russia

Introduction FY 19 Results – Highlights FinancialHighlights • Record-breaking revenues of $63.1 million, up 5.5% (2018: $59.8 million) Profit beforetax 2019 $12.6m • EBITDA of $26.4 million, up 10.5% (2018: $23.9 million) $12.6m 2018 $17.0m -25.9% • Profit Before Tax of $12.6 million (2018: $17million) 2017 $3.0m (2018: $17.0m) • Proposed final dividend of $0.023 per share amounting to $2 million in aggregate (2018: $1 million) Revenue • 2019 $63.1m Total dividend pay-out for the year of $4 million (subject to final $63.1m dividend approval at the AGM) (2018: $7.7 million) +5.5% 2018 $59.8m (2018: $59.8m) 2017 $43.4m • Record annual production of gold in dore at 43,479 oz. a 3.2% increase YoY (2018: 42,128 oz.) • Maintained low cash cost per oz. gold sold at $513 (2018: $516) Total Dividend 2019 $4.0m • $4.0m Further improvement in All-in Sustaining Costs per oz. gold $941 -48% 2018 $7.7m (2018: $1,049) (2018: $7.7m) 2017 $6.3m • Cost of sales per oz. of gold at $878 (2018: $788) • Awarded license for Rodnikova deposit Gold indoré 2019 43,479oz • Zero fatalities occurred in FY 2019 43,479oz 2018 42,128oz +3.2% • Limited impact of COVID-19 on operations in 2020 to date with 2017 36,714oz (2018: 42,128oz) production uninterrupted • Reiterated full year 2020 gold production guidance of 38,000- Operating Highlights 42,000 oz • Strengthened short-term liquidity of the Group with $10 million loan facility secured on attractive terms Recordyear 2019 43,479oz 43,479oz ofproduction 2018 2018 42,128oz 42,128oz Trans-Siberian Gold 5 A low cost, high grade gold producer in Russia

Introduction Strategy Becoming a premier mid-tier gold producer & developer Strategy The Group seeks to provide investors with access to a company capable of generating industry-leading shareholder returns, while maintaining a commitment to operational excellence and its social and environmental responsibilities. The Group’s current corporate strategy is based on the following threepillars: 2 3 1 Pursueselective Utilise stableplatform accretive M&A Enhanceexisting for future growth opportunities operations opportunities Trans-Siberian Gold 6 A low cost, high grade gold producer in Russia

Introduction Business Model: How we deliver our strategy Inputs Business Activities Outputs Financial Capital Financial Performance $63.1m Revenue → $12.6m PBT Shareholder Equity + Operational Cash-flow + Debt Mining Mineral Resources Shareholder Returns Operations High-grade gold deposits (Asacha & Rodnikova) $4m Dividends paid + £7.9m share buyback Infrastructure Gold Production $83.2m of Property, Plant & Equipment 43,479oz Gold + 111,557oz Silver dore produced Corporate Corporate Governance Development Human Capital Our People Zero fatalities + 7x minor injuries + HSE 604 staff in Kamchatka + experienced Board Continuous skills + training + jobs Social & Community Investment Social & Community Investment Engaging with host communities and stakeholders Stakeholder Engagement Corporate social investment + local development Natural Resources Natural Resources Energy & Water consumption Lower energy tariff + underground water pumping Trans-Siberian Gold 7 A low cost, high grade gold producer in Russia

Introduction KPIs: How we measure delivery of strategy (1) 92 Ore extracted (’000) Refined gold sales Average realised gold price Reported injuries 43,782 oz. -4.7% $1,399 +10.6% 142 tonnes -18.4% 7 +75% 142 2019 1,399 2019 2019 2019 7 43,782 2018 45,956 1,265 2018 2018 4* 2018 174 Ore processed (’000) Net debt EBITDA $16.4m +123% $26.4m +10.5% 179 tonnes -5.8% 2019 179 2019 26.4 2019 16.4 2018 7.4 23.9 2018 190 2018 Notes Trans-Siberian Gold *Includes one fatality in 2018 8 A low cost, high grade gold producer in Russia

Introduction KPIs: How we measure delivery of strategy (2) Average feed gold grade Average employee numbers * Gold recovery rate 7.8g/t +5.5% 95.3% +0.4% 699 -4.2% 2019 95.3 2019 699 2019 7.8 2018 7.4 727 2018 94.9 2018 AISC per oz. gold Cost of sales per oz. gold Total cash cost per oz. gold $941 -10.3% $878 +11.4% $513 -0.6% 2019 941 878 2019 513 2019 2018 1,049 2018 788 2018 516 Trans-Siberian Gold Notes 9 *Figures are for TSG’s 100% owned subsidiary, AO Trevozhnoye Zarevo A low cost, high grade gold producer in Russia

Financial Performance Financial Highlights Revenue (by metal) 2019 2018 ($‘000) unless stated otherwise Refined Gold Production (oz.) 43,733 46,053 Total Cash Costs (US$/oz.) 793 751 AISC (US$/oz.) 941 1049 Revenue 63,108 59,769 Gold 97% $61.3m Operating Profit 14,408 18,003 Silver 3% $1.9m EBITDA 26,409 23,899 EBITDA EBITDA margin 42% 40% Net Cash from Operations 18,942 26,444 2019 $26.4m Profit before Tax 12,595 16,963 2018 $23.9m 2017 $13.9m Earnings Per Share (US$) 9.17 11.30 Net Debt (16,416) (7,368) W ell placed to pursue opportunities & Net Debt / EBITDA 0.6 0.3 43,479oz continue to offer sustainable return 2018 42,128oz Record Revenue of Cash generative Strong EBITDA Low Net Debt / EBITDA $63.1m operations margin leverage Trans-Siberian Gold 10 A low cost, high grade gold producer in Russia

Financial Performance Committed to Returning Capital to Shareholders Attractive Returns ($33m) from cash dividends & share buybacks 35 2.0 33.0 30 9.5 25 2.0 $ (million) 20 1.0 5.7 15 1.0 2.3 10 4.0 5 5.5 0 2016 Special 2017 Interim 2017 Final 2018 Interim 2018 Special 2018 Final 2019 Interim 2019 Buyback 2019 Final Total Payout $2m Final Dividend Total Dividend for FY19 $9.5m Buyback FY20 guidance of $3m dividends as ‘base case’ Proposed amounts to $4m* completed in July 2019 Notes: Trans-Siberian Gold * Assumes shareholders approve the Final Dividend at the AGM. 11 A low cost, high grade gold producer in Russia