Ann: BLK - A Dominant Position in Australia's Largest Gold Belt, page-2

COMPANY OVERVIEW • Low risk free milling mine plan targeting 80koz annual production at AISC of A$1,100-1,200/oz (US$855-932/oz) • Gold production in March 2018 quarter of 20,631oz at AISC of A$1,092/oz (US$848/oz) • Well funded to undertake continued exploration, with advanced brownfield opportunities to strengthen and lengthen reserves – focussed on building a “rolling” five year free milling mine plan • Strong operating cash flows targeting a net cash position by the end of 2018 • Board and management strengthened with experienced gold mining professionals • Outstanding long-term upside from dominant land position and 6.5Moz (65Mt @ 3.1g/t) resource base