Corporate Presentation Anglo Pacific Group PLC corporate present… · » Diversified commodity exposure across coking coal, iron ore, gold, vanadium and uranium » Key royalty asset

Anglo Pacific Group PLC September 2014

Corporate Presentation

Anglo Pacific Group PLC

Important disclaimer

Certain statements in this presentation, other than statements of historical fact, are forward-looking statements

based on certain assumptions and reflect the expectations of Anglo Pacific Group PLC (the “Company”) and

views of future events. Forward-looking statements (which include the phrase “forward-looking information”

within the meaning of Canadian securities legislation) are provided for the purposes of assisting the reader in

understanding the Company’s financial position and results of operations as at and for the periods ended on

certain dates, and to present information about management’s current expectations and plans relating to the

future. Readers are cautioned that such forward-looking statements may not be appropriate for other purposes

than outlined in this presentation. These statements may include, without limitation, statements regarding the

operations, business, financial condition, expected financial results, cash flow, requirement for and terms of

additional financing, performance, prospects, opportunities, priorities, targets, goals, objectives, strategies,

growth and outlook of the Company including the outlook for the markets and economies in which the Company

operates, costs and timing of acquiring new royalties, mineral reserve and resources estimates, estimates of

future production, production costs and revenue, future demand for and prices of precious and base metals and

other commodities, for the current fiscal year and subsequent periods. In addition, statements relating to

“reserves” or “resources” are forward looking statements, as they involve implied assessment, based on certain

estimates and assumptions, that the resources and reserves described can be profitably produced in the future.

Forward-looking statements include statements that are predictive in nature, depend upon or refer to future

events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”,

“intends”, “targets”, “projects”, “forecasts”, or negative versions thereof and other similar expressions, or future or

conditional verbs such as “may”, “will”, “should”, “would” and “could”. Forward-looking statements are based

upon certain material factors that were applied in drawing a conclusion or making a forecast or projection,

including assumptions and analyses made by the Company in light of its experience and perception of historical

trends, current conditions and expected future developments, as well as other factors that are believed to be

appropriate in the circumstances. The material factors and assumptions upon which such forward-looking

statements are based include: the general economy is stable; local governments are stable; interest rates are

relatively stable; equity and debt markets continue to provide access to capital; the ongoing operations of the

properties underlying the Company’s portfolio of royalties by the owners or operators of such properties in a

manner consistent with past practice; the accuracy of reserve and resource estimates, grades, mine life and

cash cost estimates; the accuracy of public statements and disclosures made by the owners or operators of such

underlying properties; no material adverse change in the market price of the commodities that underlie the

Company’s portfolio of royalties and investment interests; no adverse development in respect of any significant

property in which the Company holds a royalty or other interest; the successful completion of new development

projects; the accuracy of publicly disclosed expectations for the development of underlying properties that are

not yet in production; planned expansions or other projects within the timelines anticipated and at anticipated

production levels; and title to mineral properties.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and

assumptions, which could cause actual results to differ materially from those anticipated, estimated or intended

in the forward-looking statements.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and

which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove

to be accurate; that assumptions may not be correct and that objectives, strategic goals and priorities will not be

achieved. A variety of material factors, many of which are beyond the Company’s control, affect the operations,

performance and results of the Company, its businesses and investments, and could cause actual results to

differ materially from those suggested any forward-looking information. For additional information with respect to

such risks and uncertainties, please refer to the ‘Risk Factors’ section of our most recent Annual Information

Form available on www.sedar.com and the Group’s website www.anglopacificgroup.com, and also to the

‘Principal risks and uncertainties’ section of our most recent Annual Report, which is also available on our

website. If any such risks actually occur, they could materially adversely affect the Company’s business, financial

condition or results of operations. The reader is cautioned to consider these and other factors, uncertainties and

potential events carefully and not to put undue reliance on forward-looking statements.This presentation also

contains forward-looking information contained and derived from publicly available information regarding

properties and mining operations owned by third parties. The Company’s management relies upon this forward-

looking information in its estimates, projections, plans, and analysis.

Although the forward-looking statements contained in this presentation are based upon what the Company

believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these

forward-looking statements. The forward-looking statements made in this presentation relate only to events or

information as of the date on which the statements are made and, except as specifically required by law, the

Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a

result of new information, future events or otherwise, after the date on which the statements are made or to

reflect the occurrence of unanticipated events.

This presentation contains reference to past prices of and/or yields on the Company’s shares. Readers are

reminded that past performance cannot be relied on as a guide to future performance.

As a royalty holder, the Company often has limited, if any, access to non-public scientific and technical

information in respect of the properties underlying its portfolio of royalties, or such information is subject to

confidentiality provisions. As such, in preparing this presentation, the Company has relied upon the public

disclosures of the owners and operators of the properties underlying its portfolio of royalties, as available at the

date of this presentation.

This presentation is for informational purposes only. This presentation is not a prospectus and does not

constitute or form part of any offer, invitation or recommendation in respect of securities, or an offer, invitation,

recommendation to sell, or a solicitation of any offer to buy, securities.

1


Anglo Pacific corporate overview

» The only natural resource royalty company listed in London

» Dual listing: LSE (Premium Listing) and TSX

» Strong existing asset base from which to develop the business

» Portfolio includes royalties on six operations that are

producing

» Diversified commodity exposure across coking coal, iron

ore, gold, vanadium and uranium

» Key royalty asset in Kestrel, a Tier 1 coking and thermal coal

mine in Australia operated and majority-owned by Rio Tinto

» New royalty acquisitions and Kestrel expected to drive royalty

income growth over the coming years

Shareholders (5)

Directors 9.0%

Liontrust Investment Partners 6.2%

Aberforth Partners 5.6%

Schroder Investment Management 4.7%

AXA Investment Management 4.7%

T.Rowe Price 1.2%

Total number of shareholders ~2,500

Corporate Information

Ticker APF (LSE), APY (TSX)

Share price (1) 161p

Market capitalisation (2) £184m

Cash (3) £14m

Revolving credit facility (undrawn) £9m

2013A Dividend per share 10.2p

Dividend yield (4) 6.3%

2

(1) Bloomberg (as at market close on 9 September 2014)

(2) Based on ~116.4m ordinary shares outstanding (as at 9 September 2014)

(3) Anglo Pacific H1 2014 results announcement (as at 30 June 2014)

(4) Based on 2013A dividend and market close on 9 September 2014

(5) Director holdings as disclosed to the Group as of 12 September, 2014. Substantial holdings as per Group notifications of interests of 3% or more in the share capital of the Company as of 6 June, 2014. T.Rowe Price holdings as per RDIR research report

dated 4 June 2014


Anglo Pacific investment highlights

12-year track record of shareholder dividends

Potential for higher returns vs. precious metal royalty strategies

Focus on bulk materials, base metals and energy – will opportunistically consider other commodities

Overhead costs decoupled from royalty income growth

Strong foundation with existing royalty portfolio

Experienced management opening up new investment opportunities

”

To create a leading international

diversified royalty company

” M I S S I O N S T A T E M E N T

3


Copper Price: $4.00 /lb

Copper Price: $3.32 /lb

2011 2013

» In contrast to mining companies, most royalty investments have limited direct exposure to:

» Operating cost inflation

» Capex escalation

» Royalty investments are generally less sensitive to commodity price volatility than mining companies

» Diversification targeted through exposure to projects in different commodities and jurisdictions

Royalties: Lower risk & lower volatility

Royalty Companies vs. Copper Miners: Margin Change 2011-2013 (1, 2)

(per pound of copper)

4

Copper miner C1 cash cost:

$1.27 /lb ( 1)

Copper miner cash margin:

$2.73 /lb

Miner’s change in margin:

~(40%)

Royalty Co.’s change in margin:

~(17%)

Copper miner C1 cash cost:

$1.68 /lb (1)

Copper miner cash margin:

$1.64 /lb

(1) Wood Mackenzie - July 2014, based on Copper Mine Composite Cost Leagues

(2) All figures presented for indicative purposes only. Royalty Co. margin assumes constant deductibles


Royalties: Cash returns & additional upside potential

» Royalty companies can generate cash yields for shareholders – unlike holding ETFs or physical metal

» Royalty companies have a relatively low and stable overhead cost base

» Potential to participate in commodity price upside

» Upside optionality of the royalty model due to increased mine production and mine life / oil & gas field extensions

5

Revenue

Growth Via:

• Royalty

acquisitions

• Production

ramp-up at

current portfolio

Higher

dividends

Further royalty

acquisitions

£2.8 £3.3 £3.4 £3.6 £3.4

£18.4

£28.0

£32.8

£12.2 £12.1

£21.1

£31.3

£36.2

£15.8 £15.5

2009 2010 2011 2012 2013

Operating Expenses

Cash Operating Margin

Anglo Pacific’s Historical Operating Margin


50%

19%

9%

9%

13%

Coal Iron Ore Gold Copper Other

2013

Global Mining Production

by Value

(%)

Bringing a diversified commodity royalty portfolio into the mainstream

» Within the metals & mining universe, coal, iron ore and copper

accounted for 50%, 19% and 9% of global production (by value)

respectively vs. 9% for gold (1)

» Bulks and base metals projects are capital intensive and under

significant cash constraints due to:

» Commodity price softening

» Efforts to de-leverage balance sheets

» Capex and cost overruns

» Royalties and streaming account for a small proportion of overall mining

investment: 1.1% in 2012 (2)

» “First mover” advantage gives Anglo Pacific the potential to pursue

attractive assets and acquire secondary royalties

» In addition, Anglo Pacific is currently evaluating oil and gas royalties as

well as mining infrastructure royalty opportunities

(1) Global production by value during H1 2013. Global Mining Perspective, Arctic Cluster of Raw Materials Conference, IntierraRMG report (September 26, 2013)

(2) Three things you need to know about alternative financing in the mining industry, PWC (2013)

6


Strategy for growth: Sourcing new royalties

» Alternative forms of financing are increasingly popular vs. equity fundraisings in the current cash

constrained commodity sector

» Anglo Pacific aims to provide the “last dollar” required for companies to achieve economic production

» Providing an alternative form of capital to assist with the financing of asset purchases

» Providing capital to refinance onerous debt obligations

Financing

for growth

» Natural resource assets often have existing royalties held by the original founding shareholders who

require liquidity solutions (e.g. the Maracás royalty acquisition)

» Opportunity to acquire existing royalties at attractive prices

Providing

liquidity

» Disposal for cash of existing royalties held by large miners often preferred in order to enhance the stock

market rating of the company

Monetising hidden

royalty assets

The company is actively progressing a number of prospective royalty deals

7


Anglo Pacific’s approach to royalty acquisitions

Commodity: » Focused on bulk materials, base metals and energy

» Opportunistically consider other commodities, as well as royalties on ports and rail infrastructure

Asset specific

considerations:

» Management’s operating track record

» Profit margin & position on the industry cost curve

» Counterparty risk

» Jurisdictional risk

» Compliance with the Group’s corporate social responsibility policy

Valuation

considerations:

» Detailed due diligence on mine production profile

» Site visits by technical team and independent technical advisors

» Production assumptions based on existing mineable reserves, resources conversion assumptions evaluated on

case by case basis

» Consider other factors such as geology, infrastructure, and permitting which could impact production volumes

or mine life

Disciplined approach to investments

8


Key royalty acquisition characteristics

Near-term cash flow generation

Established natural resource

jurisdictions

High quality, long-life assets

Production and exploration upside

Strong operational management teams

Portfolio diversification

Accretive to EPS and CFPS

Maracás Mine

operated by

2% NSR Royalty

US$25 million

June 2014

Brazil

Recent Maracás royalty acquisition demonstrates key acquisition characteristics

9

http://www.largoresources.com/English/Home/default.aspx


Royalty portfolio expansion to drive dividend growth

Current Dividend Yield Compares Favourably to Peers

(2013A Dividend Yield) (1)

(1) Company dividend yield calculated as 2013 dividend divided by share price as of 9 September 2014. Index yields as of 9 September 2014. Bloomberg, company filings

Committed to maintaining the dividend per share, with a view to increasing it in the longer term

10

Anglo Pacific Group PLC Annual Results 2013 11

Asset Overview

Anglo Pacific Group PLC 11


Geographic and commodity exposure across principal royalty assets

Producing royalties

Development royalties

Early-stage royalties

Royalty Commodity Operator Location Royalty type

and rate (1,2,3)

Pro

du

cin

g

Kestrel Coking &

thermal coal Rio Tinto Australia 7 – 15% GRR

El Valle-Boinás /

Carlés (‘EVBC’)

Gold, copper

and silver

Orvana

Minerals Spain 2.5 – 3% NSR

Maracás Vanadium Largo

Resources Brazil 2% NSR

Four Mile Uranium Quasar

Resources Australia 1% NSR

Amapá Iron ore Zamin Ferrous Brazil 1% GRR

Tucano Iron ore Beadell

Resources Brazil 1% GRR

De

ve

lop

me

nt

Salamanca Uranium Berkeley

Resources Spain 1% NSR

Isua Iron ore London

Mining Greenland 1 – 1.4% GRR

Ea

rly-s

tag

e

Pilbara Iron ore BHP Billiton Australia 1.5% GRR

Ring of Fire Chromite Cliffs Natural

Resources Canada 1% NSR

Dugbe 1 (4) Gold Hummingbird

Resources Liberia 2 – 2.5% NSR

1

2

3

4

5

6

7

8

9

10

11

10

11

9

8

7

5

6

2

4

1

3

12

(1) Please refer to 2013 Annual Report for further detail on the Royalty type and rate for Kestrel, Tucano, EVBC, Isua, and Dugbe 1

(2) GRR – Gross Revenue Royalty

(3) NSR – Net Smelter Return

(4) Dugbe 1 to become a royalty upon the receipt of a mining license


Principal royalty assets royalty portfolio breakdown

66%

11%

8%

5%

5% 3% 3%

Australia Brazil Greenland

Spain Liberia Canada

Other

Geographic Exposure

75%

16%

9%

Producing Early-stage

Development

Exposure by Stage of

Production

59% 20%

8%

13%

Coal Iron Ore Gold Other

Commodity Exposure

(1) As percentage of net assets as of 30 June 2014

13


Kestrel royalty, Rio Tinto, Australia

» A Tier 1 coking and thermal coal mine in Australia operated and majority-owned by Rio Tinto

» APG royalty lands cover a portion of Rio Tinto’s licensed mining area

» Recently completed a US$2bn capex programme to extend the mine life and increase production capacity (2)

» Royalty terms: 7% of value up to A$100/tonne, 12.5% of the value over A$100/tonne and up to A$150/tonne, 15% thereafter (3)

Historical Kestrel Royalty Income (GBP millions)

14

Forecast Cost Curve Position (1)

(C1 cash cost, US$/tonne)

Kestrel

Cumulative production (million tonnes)

(1) Wood Mackenzie forecasts as of August 2014. AUD:USD FX assumptions of 1.185. Based on Coal Costs Benchmarking seaborne export metallurgical cost curve 2016.

(2) Kestrel US$2bn capex program completion and production commencement announced by Rio Tinto on 12 July 2013

(3) Royalty rate set by the Queensland Government. Anglo Pacific has an effective 50% ownership of this royalty

-

US$25

US$50

US$75

US$100

US$125

US$150

US$175

US$200

Quartile 1 Quartile 2 Quartile 3 Quartile 4


Anglo Pacific Update



Kestrel information rights

» As announced on August 18, 2014, Anglo Pacific entered into an

agreement with Kestrel Coal Pty Ltd, for the provision of certain

information in respect of the Kestrel coal mine (1)

» Enhanced visibility of expected future production from key

royalty

» Historical information – to be provided on a quarterly basis

» Invoiced payable tonnes (including product mix)

» Royalty payable

» Split between the public and the private royalty payable

» Forecast information

» Estimated private royalty payable for the next quarter

» Forecast production tonnages, split on a public and private

royalty basis, for the next four quarters

Forecast information provides increased visibility on expected Kestrel royalty income

Agreement summary

16

(1) Please refer to endnote (i)


Portfolio update: Newly producing royalties

Maracás, Vanadium, Brazil (Largo Resources) (1)

» Acquired for US$22 million in cash, up to US$3 million in

milestone payments, and 500k warrants in June 2014 (2)

» Estimated 29 year mine life (to which royalty area relates)

» First production achieved on August 2, 2014

» First shipment of V2O5 made on September 2, 2014

» Largo targeting Phase 1 nameplate capacity of 9,600 tonnes of

V2O5 equivalent within 12 months

Four Mile, Uranium, South Australia (Alliance Resources)

» First production achieved on April 4, 2014

» 685,501 lbs of uranium oxide concentrate produced up and until

August 1, 2014

» First sales expected post mid-September 2014 with royalty

payments expected to commence shortly thereafter

(3)

17

(1) Please refer to endnote (ii)

(2) US$1.5 million payable in cash when the Maracás Project reaches, over a calendar quarter, sales of an annualised production rate of 20.9 Mlbs (9,500t) V2O5 equivalent and a further US$1.5 million payable in cash when the Maracás Project reaches, over a calendar

quarter, sales of an annualised production rate of 26.5 Mlbs (12,000t) V2O5 equivalent. Each warrant will entitle the holder to acquire one Anglo Pacific ordinary share at a strike price of £2.50 and will be exercisable for 5 years. The warrants will not be admitted to

trading on any exchange

(3) Please refer to endnote (iii)


Non-core asset disposals

Equity portfolio monetisation

» £7.0m of realised proceeds from the portfolio of non-core equity investments from December 31, 2013 to June 30, 2014

» Number of listed equity holdings reduced by ~50%

» Further non-core equity disposals expected over the coming months

» Investments in listed equities valued at £14.9 million as of June 30, 2014

Panorama Coal disposal and retention of royalty

» Anthracite coal project located in British Columbia, Canada

» Located adjacent to the Groundhog project owned by Atrum Coal NL (ASX:ATU)

» Entered into an agreement to sell the Panorama Coal project for:

» US$0.5m of cash payable on completion

» US$2.0m promissory note payable within 12 months

» One million Atrum Coal shares

» The Group retained a royalty over the project which will be the greater of 1% gross revenue royalty or US$1 /tonne royalty (1)

18

(1) 1% of gross revenues on a “mine gate” basis or US$1/tonne over any coal mined and sold from the properties sold to Atrum Coal


Deal pipeline

Actively pursuing primary and secondary royalties

» Pursuing royalty opportunities in bulk materials and base metals

» Developing new royalty opportunities in oil and gas and infrastructure

» Currently pursuing a number of transformational transactions

Focus on acquiring royalties on high quality natural resource assets that will contribute to earnings and dividend growth

Anglo Pacific is actively pursuing new royalty opportunities

19


Strengthened Board of Directors

» Mike Blyth appointed as the Group’s independent non-executive Chairman in April 2014

» Appointment of Robert Stan as independent non-executive director in February 2014

» 34 years of experience in the natural resource industry

» Extensive contacts in the Canadian investment community along with working knowledge of operating coal projects in North

America

» Appointment of Rachel Rhodes as independent non-executive director in May 2014

» Over fifteen years of experience in the natural resource sector

» Member of the Institute of Chartered Accountants in England and Wales and the Group’s Audit Committee Chair

20


Conclusion



Conclusion

» Attractive dividend yield

» Accretive acquisitions to grow net income and dividend progressively

» Upside potential in Kestrel royalty income

» Market opportunity as conventional funding routes for natural resource producers remain limited

» Limited competition from other royalty players

22


Appendix



Julian Treger

Director and Chief Executive Officer

Julian Treger has over 24 years of investment experience including special

situations and distressed investing. He co-founded Audley Capital Advisors

LLP (“Audley”) in 2005 and has led the firm’s natural resource investments.

Prior to Audley, he co-founded Active Value Advisors Ltd. to invest in

undervalued, predominantly UK-listed companies, where he advised on more

than US$900m of funds over a 12-year period.

Julian Treger began his career working for Lord Rothschild as an in-house

corporate financier, managing a portfolio of public and private equity

investments. Julian Treger holds a BA and an MBA from Harvard University.

Management team has established track record in natural resources

sector

Mark Potter

Director and Chief Investment Officer

Mark Potter has more than 13 years of experience in special situations

investing, private equity and corporate finance advisory. He joined Audley in

2005 and has been primarily responsible for covering all natural resource

investments held by the Audley European Opportunities Fund.

From 2003 to 2005, Mark Potter was an Associate at Dawnay Day advising

on M&A, private equity and initial public offerings for UK-listed companies.

Prior to this, he was a Senior Analyst in the Investment Banking division of

Schroder Salomon Smith Barney (Citigroup).

Mark Potter holds a BA (Hons) and MA degree in Engineering and

Management Studies, Trinity College, University of Cambridge.

Julian Treger and Mark Potter bring a disciplined approach to royalty investments

Key management supported by wider Anglo Pacific team

• Significant technical, legal, accounting and corporate finance experience across the team

Julian Treger & Mark Potter Have Strong Track Record of Creating Value

• Generated over US$600m of profit on US$300m worth of actively structured natural resource investments over a 7-year period(1)

• Brokered US$3.3bn sale of Western Coal to Walter Energy, providing significant return on investment

• Natural resource investments predominantly focused on coal and iron ore across Canada, US and Africa

(1) Audley Capital Advisors LLP, November 18, 2013

24


Other members of the Board of Directors

Rachel Rhodes Non-Executive Director

Rachel Rhodes (43) was appointed

director in May 2014 and currently

chairs the Group’s Audit Committee.

She has an MA in Economics from

the University of Cambridge and is a

member of the Institute of Chartered

Accountants in England and Wales,

having qualified with Coopers and

Lybrand in London in 1997. She has

over fifteen years of experience in

the mining industry, including with

Anglo American PLC and, most

recently, serving as Chief Financial

Officer of London Mining PLC until

November 2013. At London Mining

PLC, Ms. Rhodes played a leading

role in listing the Company on AIM,

in raising finance of around US$500

million and in the negotiation of the

mining licences and fiscal platforms

for the company’s projects in Sierra

Leone and Greenland.

Robert Stan Non-Executive Director

Robert Stan (60) was appointed

director in February 2014. He has a

B.Comm from the University of

Saskatchewan. He has over 34

years of experience in the mining

industry. He has held several senior

positions with Fording Coal Limited,

Westar Mining Ltd, and TECK

Corporation before becoming a

founding shareholder and director of

publicly quoted Grande Cache Coal

Corporation ("GCC"), an Alberta-

based metallurgical coal mining

company, in 2000. At GCC, he

served as President, CEO and

Director from 2001 to 2012, when

the company was sold for $1bn to

Winsway Coking Coal and Marubeni

Corp, an Asian-backed strategic

investor consortium. He has served

as Chairman of the Coal Association

of Canada Board of Directors and

has acted as a board member of the

International Energy Agency's Coal

Industry Advisory Board. He

currently serves on the board of

several private companies, including

Quantex Resources Limited and

Spruce Bluff Resources Limited,

and of publicly listed Whetstone

Minerals Limited.

Mike Blyth Non-Executive Chairman

Mike Blyth (63) was appointed

director in March 2013 and as non-

executive chairman in April 2014.

He also currently chairs the

Nomination Committee. He has a

BSc from St Andrews University and

is a Chartered Accountant. He was,

until his retirement in 2011, a

partner for 30 years in Baker Tilly,

specialising in providing audit and

related services to AIM and full list

clients. During his career he held a

number of senior management

positions with the firm, including a

period on its National Executive

Committee.

25

Paul Cooke Non-Executive Director

Paul Cooke (66) was appointed

director in December 2012. He has

an MA in History from Cambridge

University and is a qualified

Chartered Surveyor. He is a

substantial shareholder in a number

of property companies specialising

in property development, investment

and financing. He is also involved in

farming and forestry interests in the

UK and abroad. He serves on the

boards of several charities.

Anthony Yadgaroff Non-Executive Director

Anthony Yadgaroff (65) was

appointed director in March 2003.

He is a Member of the Chartered

Institute for Securities and

Investment, and has specialised in

investment research, management,

and consultancy during a forty year

City career. Allenbridge Group,

which he founded in 1984 to provide

advisory services to private and

institutional investors, was acquired

by Close Brothers in February 2011.

He is Chairman of AllenbridgeEpic

Ltd, which advises major UK

pension funds with assets

exceeding £25 billion. He serves on

the boards of several charities and

non-profit organisations.


Experienced wider Anglo Pacific team

26

Kevin Flynn Chief Financial Officer

Kevin Flynn joined the Group as Chief

Financial Officer in January 2012. A

Chartered Accountant, having qualified

with Deloitte, he has overall responsibility

for corporate reporting, cash management

and taxation. Prior to joining the Group, he

spent several years in finance roles in the

London commercial real estate sector,

with both FTSE 100 and FTSE 250

companies.

Peter Mason General Counsel and Company

Secretary

Peter Mason joined the Group in October

2010 and was appointed Company

Secretary in July 2011. He has a BA in

History from the University of Warwick and

is a qualified solicitor. He began his career

in private practice with Freshfields

Bruckhaus Deringer LLP, working in

London and Tokyo with a focus on M&A.

Prior to joining the Group, he worked for

the Malaysian oil and gas corporation,

PETRONAS, advising on its European

production and gas storage businesses.

Juan Alvarez Group Mining Analyst

Juan Alvarez joined the Group in 2012 as

Group Mining Analyst. He has a Bachelors

degree in geology from Macquarie

University and currently has over twenty

years experience in exploration, mining

geology, resource estimation and mining

finance. Juan worked as a Senior Mining

Geologist for AngloGold and Rio Tinto

before joining global mining consultant,

Golder Associates as a Senior Consultant.

Juan moved into mining finance when he

joined niche mining focused stockbroker,

Fox Davies Capital, as a sell side equities

analyst before joining the Group.

Marc Bishop Lafleche Investment Associate

Marc Bishop Lafleche joined the Group as

an Investment Associate in April 2014. He

has an MSc in Banking and International

Finance from Cass Business School and a

BA (Hons) in Political Science from the

University of Western Ontario. Marc

became a CFA charter holder in 2013.

Prior to joining the Group, between 2010

and April 2014 he worked in Citigroup’s

Global Industrials Investment Banking

team focusing on metals & mining, and in

Citigroup’s European Leveraged Finance

team.

26


Endnotes

Third party information

As a royalty holder, the Company often has limited, if any, access to non-public scientific and technical information in respect of the properties underlying its portfolio of royalties, or such information is subject to

confidentiality provisions. As such, in preparing this preliminary announcement, the Company has relied upon the public disclosures of the owners & operators of the properties underlying its portfolio of royalties, as

available at the date of this presentation.

i. This announcement contains information and statements that are based on certain estimates and forecasts that have been provided to the Group by Kestrel Coal Pty Ltd (“KCPL”), the accuracy of which KCPL does not

warrant and on which readers may not rely.

ii. Largo is listed on the TSX Venture Exchange and reports in accordance with the NI 43-101 standards. First production achieved August 2, 2014, material test work, expected ramp-up, and targeted phase 1 nameplate

capacity as per August 5, 2014 Largo Resources Limited press release “Largo achieves first production at Maracás Vanadium Project”. First shipment made on 2 September 2014 as per Largo Resources Limited press

release “Largo makes first shipment of vanadium pentoxide”. Estimated mine life (p. 2-1) extracted from NI 43-101 Technical Report dated 4 March 2013 (effective date 4 March 2013).

iii. Alliance Resources Limited is listed on the Australian Securities Exchange and reports in accordance with the JORC Code. Production commencement date, total production as of August 1, 2014, and expected date of

first sales as per Alliance Resources Limited August 8, 2014 press release “Four Mile Production Status”. Alliance Resources Limited owns 25% of the project, with Quasar Resources Pty Ltd owning the other 75%.

27

Documents

Corporate Presentation Anglo Pacific Group PLC corporate present… · » Diversified commodity exposure across coking coal, iron ore, gold, vanadium and uranium » Key royalty asset