TSX: GCM OTCQX: TPRFF Corporate July 2020 THE LARGEST UNDERGROUND - PowerPoint PPT Presentation

TSX: GCM OTCQX: TPRFF Corporate July 2020 THE LARGEST UNDERGROUND GOLD AND TSX: GCM OTCQX: TPRFF SILVER PRODUCER IN COLOMBIA Presentation July 2020

Forward-Looking Statements Disclaimer This presentation contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, and, specifically, statements concerning anticipated growth in annual gold production, future cash costs and AISC, future G&A and capex, excess cash flow and future repayments of its gold-linked notes. Often, but not always, forward- looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 30, 2020 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this presentation and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. All amounts are denominated in U.S. dollars, unless indicated otherwise. TSX: GCM OTCQX: TPRFF 2 July 2020

Focus in Colombia Emerging Mid-Tier Gold Miner 2019 Gold Production 240,000 ozs Segovia Operations Marmato Project +10% over 2018 Flagship Operation Caldas Gold Corp 100% ownership 57.5% ownership Spun out to Caldas Gold Corp High-grade underground o o in Feb 2020, retaining 57.5% mines interest 2019 Production: 214,000 ozs. o 2019 Production: 26,000 ozs. o One of the Top 5 Highest o PFS and Wheaton stream Grade Underground Global o validate underground mine Gold Mines…16.4 g/t in 2019 expansion into the Deep Zone Core Projects in Historic Mining Districts Exploration expanding to o with Significant Exploration Upside Exploration upgrading and include regional targets o expanding the Deep Zone TSX: GCM OTCQX: TPRFF mineralization 3 July 2020

Other Projects Additional Growth Opportunities • 100% interest. • Former high-grade producer in the Titribi mining district of Antioquia, about 27 km south of Medellin. • Currently being drilled by IAMGOLD under a 6-year option agreement signed in Zancudo Project March 2017 whereby IAMGOLD can earn up to 70%. (Colombia) • Completed acquisition of 100% interest on July 2, 2020 • Advanced exploration-stage gold project within the Shining Tree area in the southern part of the Abitibi greenstone belt. • Gold was discovered in the Shining Tree area in the 1930’s. Juby Project • Over 14,000 acres controlled through claims covering 10 km strike length on (Ontario) the mineralized trend. • Initial exploration phase will evaluate historical data incorporating machine learning and other studies to develop a drilling program for execution in 2021. • 19% equity interest (TSX-V: GLDX). • Advancing PFS for one of the largest undeveloped gold deposits in the Americas with 7.35 Mozs M&I and 3.15 Mozs Inferred. Toroparu • Robert Friedland recently joined as non-executive Chairman. (Guyana) • 26% equity interest (TSX-V: WA). • Exploring its 100% owned Meadowbank Project strategically positioned along trend immediately adjacent to Agnico Eagle’s Meadowbank/ Amaruq producing Meadowbank gold mines. (Nunavut) • Commenced planned drill program on July 14, 2020. TSX: GCM OTCQX: TPRFF 4 July 2020

Fully Diluted = ~89.4M shares Capital Structure Exchanges Warrants TSX: GCM GCM.WT.B: 11.2 million @ CA$2.21 (2024 expiry) OTCQX: TPRFF Unlisted: 3.3 million @ CA$5.40 (2023 expiry) Unlisted: 7.1 million @ CA$6.50 (2023 expiry) Common Shares Stock Options 61.8 million 1.9 million @ CA$2.55 to CA$4.05 (2021-2024 expiry) Market Capitalization Convertible Debentures (as of June 30, 2020) CA$425 million CA$20 million @ CA$4.75 (2024 expiry) TSX: GCM OTCQX: TPRFF 5 July 2020

Right Team OPERATING AND BUILDING EXPERIENCE GRAN COLOMBIA 2.0 GRAN COLOMBIA 2.0 Segovia Operations  DEMONSTRATED OPERATING Production (koz) Cash Cost (US$/oz) EXPERIENCE IN LATIN AMERICA 214 Substantial Production 193 Growth while Lowering  TRACK RECORD OF IMPROVEMENT Costs 149 126 $1,169  STRONG HEALTH & SAFETY $1,037 93 80 75 RECORD $695 $655 $664 $623 $607  FOCUSED ON BUILDING STRONG COMMUNITY RELATIONSHIPS 2013 2014 2015 2016 2017 2018 2019 Segovia Lost Time Incidents Key Management LTI Frequency Rate Serafino Iacono, Executive Chairman – Company co- 40.7 founder with 30+ years of experience in capital markets and Health and Safety is public companies a Top Priority Lombardo Paredes, CEO – 20+ years of corporate leadership and operations management experience in the resource sector in Latin America 13.0 Mike Davies, CFO – CPA,CA with 20+ years of international 5.5 and public company experience in resource and other 5.0 sectors 2016 2017 2018 2019 TSX: GCM OTCQX: TPRFF 6 Source: Company filings. July 2020

Results Performance Drivers Annual Gold Production reaches 240,000 ozs Annual Adjusted EBITDA exceeds $100M 240 $150 Segovia 200 Marmato 160 $100 kozs $M 120 80 $50 40 $- - 2017 2018 2019 Q1-2019 Q1-2020 2017 2018 2019 Q1-19 Q1-20 AISC reflects focus on controlling costs Free Cash Flow is servicing debt and building cash $120 $1,000 Operating Cash Flow Free Cash Flow AISC Total Cash Cost $100 $750 $80 US$/oz $M $500 $60 $40 $250 $20 $- $- 2017 2018 2019 Q1-19 Q1-20 2017 2018 2019 Q1-19 Q1-20 TSX: GCM OTCQX: TPRFF Refer to Company’s MD&A for computations. 7 July 2020

Results Cash & Debt (1) $140 Former Debt Gold Notes Convertible Debentures Cash $120 $100 AISC (-23%) $80 $M $60 $40 $20 $- Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2018 2019 2020 Gran Colombia’s balance sheet continues getting stronger each quarter • Early redemption on March 31, 2020 of 30% of the Gold Notes (funded by February 2020 private placement) reduced debt by ~$19 million and will improve cash flow over the remainder of 2020 by >$4 million. TSX: GCM OTCQX: TPRFF (1) Aggregate principal amount outstanding. 8 July 2020

Exposure to Upside on Gold Gold Notes Issued April 30, 2018 and mature on April 30, o 2024 Senior secured obligation of Gran Colombia o US$41.3 million outstanding as of April 30, 2020 o Listed on the TSX under the symbol GCM.NT.U o 8.25% annual coupon paid monthly in cash o Quarterly principal repayments in cash with gold o kicker above US$1,250/oz Company sets aside physical gold each month o into a Gold Trust Account to meet quarterly principal payment obligations Less than 5% of Segovia’s projected future o production is required to meet principal repayments Amortization Schedule May 2020 to April 2024 (Ounces to be Deposited to Gold Trust Account) B (Outlook Stable) 10,000 5,000 - 2020 2021 2022 2023 2024 TSX: GCM OTCQX: TPRFF 9 July 2020

Segovia Operations Production Stage License Boundaries for Segovia & Carla (100% Owned) Comparative Asset Milled Grade (1) g/t 16.4 g/t 2019 Segovia Milled Grade 40 35 Amongst the Highest-Grade 30 Mines in the Gold Sector 25 20 15 10 5 0 Kainantu (K92) Midas (Hecla) Fosterville (Kirkland) Island (Alamos) Brucejack (Pretium) Cerro Negro (Newmont) Bambanani (Harmony) Macassa (Kirkland) Segovia (GCM) Cerro Moro (Yamana) Yaramoko (Roxgold) Gwalia (St Barbara) Red Lake (Newmont) Eagle River (Wesdome) TSX: GCM OTCQX: TPRFF 10 July 2020