PowerPoint Presentation• Epithermal Au in the Avalon Belt • Project killed after phased...

April 2020

DisclaimerThe value of the investment may fluctuate. Past performance is no guarantee of future results. Investors may not get back the amount they have invested in the fund.

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ATTENTION! THIS INVESTMENT FALLS OUTSIDE AFM SUPERVISION. NO LICENSE AND NO PROSPECTUS REQUIRED FOR THIS ACTIVITY.

Te a m P l e t h o r a P r i v a t e E q u i t y

Douwe van Hees Fund Manager

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• 2008-2013: Private investor in junior exploration companies

• 2010: Working for a junior explorationcompany in Canada

• 2013-2014: Advisor PPM Fund

• 2014-now: Manager PPM Fund

• 2018-now: Manager PPE Fund

Peter Vermeulen Advisor

• 2007: Master of Economics – Finance & Investments (University of Groningen, The Netherlands)

• 2012-2014: Founder & manager PPM Fund

• 2014-now: Advisor PPM Fund

• 2018-now: Advisor PPE Fund

Thomas KwantCorporate Secretary

• 2012-2013: Consultant KP&T

• 2013-2014: Consultant A&P Support

• 2014-2017: Accountmanager MVGM

• 2018-now: Corporate Secretary PPE Investments

P l e t h o r a P r i v a t e E q u i t y

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Launched in January 2018 with C$ 1.7M of capital by the founders

Building on the success of Plethora Precious Metals Fund (CAGR: +14.0% vs. -8.2% for the GDXJ*)

Focus on early stage mineral exploration

Return since launch: +34.0% as of end of 2019

Current assets under management: C$ 12.5M

Return of capital to investors: 50% of net realized profits

*GDXJ – Junior Gold Miners ETF. CAGR = Compound Annualized Growth Rate. Figures as of April 10, 2020

F o c u s o n e a r l y s t a g e m i n e r a l e x p l o r a t i o n

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W h y m i n e r a l e x p l o r a t i o n ?

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Lack of capital for grassroots mineral exploration- First mover advantage

Lack of new discoveries and decreasing mine reserves- Perpetual demand for new discoveries by miners

Vast majority of public exploration companies is highly inefficient with limited available capital

- Decreasing odds of success

Large revaluations with IPOs of prospective exploration projects- Liquidity and visibility premium

Observations

Incorporate private exploration companies → monetize after exploration successOpportunity

L a c k o f c a p i t a l f o r m i n e r a l e x p l o r a t i o n

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L a c k o f n e w d i s c o v e r i e s

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D e c r e a s i n g m i n e r e s e r v e sE x a m p l e : g o l d

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D e m a n d f o r n e w d i s c o v e r i e s ( b y m i n e r s )E x a m p l e : n i c k e l

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Both nickel discoveries are comparable to a nickel discovery by Sirius Resources in 2012

Sirius Resources was acquired in 2015 by Independence Group for A$ 1.8 Bn

C o m p e t i t i v e e d g e P l e t h o r a P r i v a t e E q u i t y

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C$ 20,000C$ 0

C$ 20,000

Public listing costs

C$ 12,000Legal and accountancy

Office C$ 0

C$ 50,000

C$ 0

C$ 20,000

C$ 300,000

C$ 100,000

Management

Marketing

PPE company (16% G&A)Average public listed company (±50% G&A)

R e v a l u a t i o n o f p u b l i c c o m p a n i e s

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Dataset of 849 publicly traded junior exploration companies*

Average market capitalization: C$ 18.9M

Median valuation: C$ 5.6M

Average book value PPE companies: C$ 1.2M

*Listed on the Toronto Venture Exchange or the Canadian Securities Exchange as of 10th of April 2020

O u r p r o c e s s

Opportunistic: no specific focus on a single natural resource as we are commodity price agnostic

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Choose strong and stable mining jurisdictions

Conduct fieldwork as soon as possible, focus on collecting hard data

Incentivize the leading geologists (“Rock Stars”) with a significant share position

Risk management: kill projects as soon as possible

Hire world renowned field specific experts whenever needed. Upfront costs outweigh possible future misallocation of capital

R i s k M a n a g e m e n t : P h a s e d I n v e s t m e n t A p p r o a c h

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Phase 3 : Systematic field work relying heavily on geochemistry – Estimated costs C$100,000

Phase 4 : Anomalies identified, follow-up fieldwork to zoom in on target – Estimated costs C$400,000

Phase 2 : Incorporation and field “fatal flaw” testing concept – Estimated costs C$50,000

Phase 1 : Concept generation – Estimated costs C$10,000

Phase 5 : Possible geophysics and further fieldwork to refine target – Estimated costs C$400,000

R o c k S t a r s

Daniel JamesChief Operating Officer

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Exploration Geologist

• 2011-2018: President of Medgold Resources leading an exciting new gold-silver discovery in Serbia (May 2018)

• 15+ years of experience in gold exploration in Africa, Asia andEurope

Quinton HennighTechnical Advisor

Exploration Geologist (Ph.D)

• Currently chairman of Novo Resources: Instrumental in thegrowth of the company to a market capitalization of >C$ 1 Billion

• 25 years of experience in worldwide gold exploration for companies suchas; Homestake Mining, NewcrestMining & Newmont Mining

David ClarkTechnical Advisor

Exploration Geologist

• Currently president of BonavistaResources

• 20 years of experience in mineralexploration. He has explored for Ni-Cu-PGE magmatic sulphide, intrusion-hosted PGE, and orogenicand epithermal precious metals on projects in Canada, Mexico & Central America, USA, and Europe.

G l o b a l E x p l o r a t i o n

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Sweden• Magmatic Ni (Co-Cu) sulphides• Multiple occurrences staked and 3

projects optioned from third-parties• SkyTEM survey identified > 25 possible

conductors

Newfoundland, Canada• Epithermal Au in the Burin Peninsula• Au-Cu discovery at Hickey’s Pond• Attracted investment mid-tier mining

company

Ireland• Irish- and SedEx-type Pb-Zn• Two lead projects; Tallow & Castleblaney• Drill-readyNevada US (Ubica)

• Optioned Au-Ag project• Very high-grade mineralization• CSAMT survey pending

Nevada, US (Da Venda)• Epithermal Au-Ag• Large-scale target generation

with 2 lead projects emerging • Two project drill ready

Arizona, US• Epithermal Au-Ag• Multiple targets generated• On-going early-stage fieldwork

Nova Scotia / New Brunswick, Canada• Epithermal Au in the Avalon Belt• Project killed after phased

exploration in 2019• New project generation ongoing

Montenegro / Romania • Epithermal Au, porphyry Cu & Pb-Zn skarn• Early-stage targets generated• Prime polymetallic exploration target

discovered after first pass exploration

I n s u m m a r y

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Generateconcepts

Incubate

Explore

MonetizeReturn of capitalto investors: 50% of net realizedprofits

Write off

Currently raising up to € 1M

Closing date: May 1st, 2020

Subscription Price: -5/+5% vs. Year End 2019

F u n d S t r u c t u r e

Stichting Legal Owner Plethora Private Equity

€ 100,000

2 years

1 year

50% of net realized profits*

1% annually

20% of realized profits

0%

0%

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Custodian

Minimum investment

Initial lock-up

Redemption notice

Distribution policy

Management fee

Performance fee

Entry fee

Exit fee

* After deduction of performance fees. Please refer to the Information Memorandum for further information.

Douwe van HeesFund Manager

www.plethora-pe.comvanhees@plethora-pe.com

+31 (30) 20 777 20+31 (6) 14 514 692