Ann: Corporate Presentation, page-9

The lead into the "link" Report...... Pretty Impressive!

Ordinarily geophysics isn’t something to get excited about. However, ordinarily most licences of juniors in
Africa have been well explored historically by BHP, then Randgold, with recent cycles leading most of
Predictive’s peers to have ‘been at’ their tenements for some time. This is where Predictive, and Guinea,
stand out. Firstly, Guinea has seen far less exploration than Mali/Ghana, or even more recent areas like
Ivory Coast and Burkina Faso. Next, Predictive only recently consolidated their land positions, and have
themselves only ‘been at it’ for <two years. Better still, a thin veneer of cover could hide a monster, but
can easily be punched through with auger. As such, today’s geophysics does lay an important foundation
for the year. In tandem its good to see iterative growth at satellite Bankan Creek, the smaller cousin of
flagship Bankan NE. With one discovery at ‘will be a mine’ status in our view, and the second getting
bigger, Predictive is back to discovery focused drilling attractive to investors looking for additional ‘upside’
in parallel to resource delineation and engineering studies, where we estimate a global 1.4Moz already.
We maintain our BUY rating and A$0.16/sh PT based on 0.25xNAV for a 1.1Moz inventory under our SCPe
1.4Moz @ 1.45g/t global resources, supporting a 2Mtpa / 100koz pa operation. Of course if more ounces
are found, this will grow.