Queensland Nickel Pty Ltd (Administrators Appointed) ACN 009 842 - PowerPoint PPT Presentation

Queensland Nickel Pty Ltd (Administrators Appointed) ACN 009 842 068 (the Company) First Meeting of Creditors Friday 29 January 2016 Presented to Creditors of the Company

Agenda Agenda Agenda Item Agenda Agenda Item Item Item 1. Introduction of Administrators 2. Procedural Matters 3. Voluntary Administration Process 4. Statement by Director 5. Background to the Administration 6. Initial Report by Administrators 7. Extension of Convening Period 8. Administrators’ Remuneration 9. Questions 10. Resolutions 11. Next Steps For Creditors 2

1. Introduction of Administrators Who We Are Who We Are Who We Are Who We Are 1. John Park, Kelly-Anne Trenfield, Stefan Dopking and Quentin Olde were appointed as the Joint and Several Administrators of the Company ( the Administrators ) by a resolution of the Director on 18 January 2016. 2. John Park and Quentin Olde were also appointed as Joint and Several Administrators of Palmer Aviation Pty Ltd (ACN 158 870 789), a related entity of the Company, on 18 January 2016. 3. The Administrators are Senior Managing Directors in the Corporate Finance and Restructuring practice of FTI Consulting. We are Chartered Accountants and members of the Australian Restructuring Insolvency and Turnaround Association. 4. Registered and Official Liquidators with ASIC and the Supreme and Federal Courts. 5. FTI Consulting is one of the world’s leading Insolvency and Restructuring Firms with a track record of delivering major minerals processing and mining services assignments. We are also one of the world’s leading forensic investigation firms. 6. FTI Consulting is a global business advisory firm that offers business services in: • Corporate finance and restructuring; • Economic consulting; • Forensic and litigation consulting; • Strategic communications; and • Technology. 3

FTI Consulting: Who We Are FTI Consulting is a global business advisory firm that employs top-tier professionals from every major financial centre and every corner of the globe dedicated to helping organisations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. FCN $1.7 BLN Publicly traded Market capitilisation 1982 80 Asia Pacific Europe, Middle East, Spain Panama Miami Year founded Different disciplines Africa Madrid Panama City Mountain View Australia New York 16 North America Belgium United Arab Emirates Brisbane 4,700+ Oakland Gold Coast Brussels Abu Dhabi Canada Pasadena Experts in 16 industry Melbourne Dubai Employees worldwide Calgary Philadelphia Denmark specialties Perth Toronto Phoenix United Kingdom Sydney Copenhagen Vancouver Pittsburgh 80 London 440+ France China Portland Stirling United States Paris Beijing Princeton Offices in 80 cities Annapolis Senior Managing Directors Latin America Guangzhou Red Bank around the globe Germany Atlanta Argentina Hong Kong Rockville Berlin Baltimore Shanghai Buenos Aires Roseland 47 Frankfurt 2 Nobel Boston Saddle Brook India Brazil Brentwood San Francisco Ireland Laureates 47 of Global 100 Mumbai Rio de Janeiro Charlotte Santa Barbara Dublin New Delhi São Paulo corporations are clients Chicago Seattle Coral Gables Qatar Tucson Indonesia Caribbean Dallas Doha Walnut Creek Jakarta British Virgin Islands 94/100 10 of 10 Denver Cayman Islands Washington, D.C. Netherlands Japan Great Neck Wayne Advisor to the world’s top 10 Advisor to 94 of the Amsterdam Colombia Tokyo Houston West Palm Beach bank holding companies world’s Bogotá Indianapolis Winston-Salem Russia Philippines Los Angeles top 100 law firms Moscow Mexico *Manila McLean Mexico City South Africa Singapore Cape Town 4 Johannesburg *independently owned franchisee of FTI Consulting Inc.

Our Services and Industry Specialisations Economic Corporate Finance Forensic & Litigation Strategic & Restructuring Consulting Consulting Communications Technology Turnaround & Restructuring Compliance, Monitoring & Antitrust & Competition Corporate Communications Computer Forensics & Receivership Economics Investigations ■ Company Advisory Creative Engagement ■ Interim Management Dispute Advisory Services Intellectual Property Discovery Consulting ■ Lender Advisory Financial Communications Financial & Enterprise Data International Arbitration E-discovery Software & Services Transaction Advisory Analytics Public Affairs ■ Buy and Sell Side Labor & Employment Managed Review Forensic Accounting & Advisory ■ Private Equity Capital Strategy Consulting & Services Public Policy Research Predictive Discovery Valuation & Financial Advisory Global Risk & Investigations Services Regulated Industries Practice Business Improvement & Growth Securities Litigation & Risk Intellectual Property Management ■ Operational Turnaround Trial Services ■ Cost Optimisation ■ Revenue Enhancement Industry Specialisations Construction & Energy, Power & Financial Healthcare & Insurance Real Estate & Retail & Consumer Telecom, Media & Environmental Products Institutions Life Sciences Infrastructure Products Technology Aerospace & Agriculture Automotive Environmental Government & Hospitality, Mining Transportation Defense Public Contracts Gaming & Leisure 5

FTI Consulting Global Mining Case Studies Significant Global North America Mining Expertise Mineral Park Inc. (Canada) • Nord Resources (Arizona USA) • ASARCO LLC (Canada) • Asia Great Basin Gold (Nevada USA, South Africa) • • Gold and copper mine (Philippines) Project NT, Australian ASX listed gold miner (Canada) • • Philippines’ oldest operating gold mine Pen Coal Company (USA) • (Philippines) Patriot Coal Corporation (West Virginia & Missouri • • West Perth based gold miner (Asia) USA) • West Perth based gold/silver/copper miner Clearwater Natural Resources (Kentucky USA) • (Australia, Indonesia) Emissions Solutions Inc (New York, USA) • • Project Asia, Australian listed gold miner (Asia) Aurora Gold Project, Guyana Goldfields Inc, (Atlanta, • • Project Thor, Euro 7 Investment (Hong Kong, USA) • Singapore) EMEA & Africa Transaction Advisory Services, precious metals & • • Great Basin Gold (Nevada USA, South Africa) minerals (Philadelphia, USA) • Forbes and Manhattan Coal Corp. (South Transaction Advisory Services to the aluminium • African) materials industry (Chicago, USA) • Political risk investigation for a mining company considering entering Sudan • RCF (Africa) Australia • Grupo Alfonso Gallardo SAU (Madrid, Spain) • Kagara Limited (Australia) • Allstate Explorations Limited (Australia) • Australia Pacific Energy (New Zealand) South America • Project Zn, Australia ASX listed lead-zinc miner • Groupo Mexico (Mexico, Peru, and USA) (Australia) • Carparthian Gold (Brazil) • Project Nickel, Australian ASX listed nickel miner • Minproc Overseas Projects Pty Ltd (Chile, (Australian) Uruguay) • Aston Metals Limited & Aston Metals (Qld) Limited • Tamaya Resources Limited (Chile, Portugal, • Australian Kaolin NL (Australia) Armenia, Australia) • Hendricks Resources Ltd, (Australia) • South American Ferro Metals (Brazil) • Premier Coal Limited (Australia ) 6

Forensic and Litigation Consulting Market Leaders in the Global Business & Legal Community Former prosecutors, law enforcement Recognized as having the Deepest officials and regulators, and intelligence officers , among others Capabilities in Investigations Former by Kennedy Consulting , 2015 AFP, ASIC, FBI Agents Retained in the largest 175 Most professionals by firm named to reported Ponzi scheme in Combined years of Who’s Who Legal experience in List of Commercial Arbitration Expert U.S. history Witnesses for four consecutive years Australia (MADOFF Investigation) (2011-2014) Behind the global headlines Integrated Skills: High profile matters in High profile matters in High profile matters in High profile matters in Accountants Australia Australia Australia Australia Breakthrough in Enron Scandal Investigators Forensic HIH Amcor Telstra Receiver Recovers More Than $200M for Defrauded Technology Trio Capital Big 4 Banks Investors and Secures Withdrawal of $1.3 Billion in Data analytics Claims James Hardy 7

2. Procedural Matters Matter 1. Introduction 2. Nature of Meeting 3. Quorum 4. Notice Convening Meeting 5. Time and Place of Meeting 6. DIRRI 7. Entitlement to Vote 8. Adjudication of Proofs of Debt for Voting 8