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FORTRESS MINERALS PTE LTDMALAYSIA’S LEADING IRON ORE CONCENTRATE EXPORTER

Private & ConfidentialFor internal distribution only

IMPORTANT INFORMATION

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• NATURE OF THIS DOCUMENT: The purpose of this presentation is to provide general information about Fortress Minerals Pte Ltd’s (the ‘Company’). Unless otherwise stated herein,

the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by

the following terms and conditions.

• NOT AN OFFER: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer

to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in

any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

• NOT FINANCIAL PRODUCT ADVICE: This presentation does not take into account the individual investment objectives, financial situation and particular needs of anyone including

each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the

Company nor any of its director employee advisor agents or connected party is licensed to provide financial product advice in respect of the Company’s securities or any other

financial products.

• FORWARD-LOOKING STATEMENTS: Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections,

expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward-looking statements speak,

and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and

unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance and results in future periods to differ materially

from any express or implied estimates or projections. It is recognized that it is common practice for a company to comment and discuss its exploration and/or business activities in

terms of target size, type, revenue and profit growth etc. All statements contained in this presentation by the Company which refer to the potential quantity and grade of the

target and revenue or profitability of the business is accompanied by a detailed explanation of the basis for the statement. The potential quantity and grade for the target is

conceptual in nature and, there has been insufficient exploration to define a mineral reserve and it is uncertain if further exploration will result in the determination of a mineral

reserve.

• DISCLAIMER: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct.

Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the

accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability

whatsoever (including in negligence) of or any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or

omission therefrom. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which

may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

• UNVERIFIED INFORMATION: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by

the Company.

OUR CORE BUSINESS

• Our core business is mining processing and exporting iron ore concentrate mined

from our Bukit Besi Mine in Terengganu, Malaysia.

• Malaysia’s leading fully integrated industry player covering geological exploration,

mining, processing and beneficiation of iron ore concentrate.

• Off-take arrangement with two Steel Mills in Malaysia and PRC.

• On-going plans to increase processing capacity to meet demand from off-takers.

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OUR MILESTONES

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✓ JORC drilling campaign on East, Valley & West Deposits

✓ Construct mine infra & a 1.2 Mtpa throughput capacity processing plant

✓ Blasting and excavation of over-burden to open up mine pit

✓ Entry of Selangor Dredging Bhd, an established Bursa listed property

developer with 35% equity for MYR70m; SDB’s pre-JORC valuation a US$50m

✓ Commercial production iron ore concentrate with TFe 67% in Apr 2018:

✓ Maiden JORC indicated & inferred reserve of 5.41 Mt in East, Valley &

West Deposits, on surface area of 4.4% of 562.2 ha in Bukit Besi Mine

✓ Off-take arrangement with 2 steel mills in Malaysia and PRC:• Exporting to Steel Mill in PRC since Apr 2018

• Trucking to Steel Mill in Malaysia since Dec 2018

2016

✓ Awarded exclusive mining rights on Bukit Besi Mine

✓ Magnetic survey and metallurgical testing

✓ Planning & design of mine infra and processing plant

2017

2018

OUR ROAD AHEAD

2019• On-going expansion of processing capacity to meet high demand from off-takers

• Increase JORC resource on East, Valley & West Deposits

• Expand exploration area from existing 4.4% of Bukit Besi’s surface area explored to-date

2020• Continue to increase JORC resource on East, Valley & West Deposits

• Initiate JORC drill campaign on North Deposits

2021• Continue to increase JORC resource on East, Valley & West Deposits• Maiden JORC resource on North Deposits• Initiate JORC drill campaign on South Deposits

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OUR BUSINESS UNITS

Fortress Minerals Ltd

(Listco)

Fortress Mining Sdn Bhd

(100%)

Fortress Logistics Sdn Bhd

(100%)

Fortress Industries Sdn Bhd

(100%)

Fortress Resources Pte Ltd

(100%)

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OUR TEAM

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CEO

COO

CFO

OUR PEOPLE

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Dato’ Sri Ivan Chee, CEO• Extensive hands-on experience in mining, civil & structural engineering, construction &

property development and heavy machinery businesses in Malaysia.

• Extensive mining and related industry network in PRC and Malaysia.

• NED & shareholder of Norwest Minerals Ltd (NWM.AX) a gold & base metal explorer in Australia.

Ng Mun Fey, COO• 4+ years hands-on experience in mining industry especially in international iron ore trading,

processing plant design and management.

• Bachelor in Engineering Technology from University of Southern Queensland.

Fionne Chua, CFO• Extensive experience in financial management and reporting.

• Qualified as Chartered Accountant from the ACCA, UK and a member of the Malaysian Institute

of Accountants.

BUKIT BESI MINE

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OVERVIEW OF BUKIT BESI MINE N

• 526.2 ha open pit mine on Lot 110548 & Lot 60027 near Bukit Besi town, Dungun, Terengganu

• Excellent public infra: 3G, water & electricity, state roads and highways facilitating cost

efficiencies

• 1.5 hours drive to Kuantan & Kuala Terengganu airports; 86 km to nearest Kemaman port

• Premium price for high grade iron ore concentrate Tfe 67.0%

• Strong demand from off taker steel mills in Malaysia and PRC

• Low cost producer, benefits from in-house geology and engineering capabilities

• All processing plants are easily scalable to increase processing capacity

• Maiden JORC resource completed on East, Valley & West Deposits:

✓ 5.41 Mt of inferred and indicated iron ore resource on 4.4% of Bukit Besi’s surface area

✓ Independently valued at US$32m by SRK Consulting in Aug 2018

✓ Exploration, production and sale activities on-going simultaneously – EBITDA positive since

commencement

• Future resource in North and South Deposits: positive geological indications

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OVERVIEW: BUKIT BESI MINE

JORC RESOURCE:

WEST, VALLEY AND EAST

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Deposit Indicated Inferred Total

Mt Fe(%) Mt Fe(%) Mt Fe(%)

West 0.37 42.2 2.55 39.6 2.92 40.0

Valley - - 1.36 46.4 1.36 46.4

East - - 1.13 40.7 1.13 40.7

Total 0.37 42.2 5.04 41.7 5.41 41.7

*Based on a block cut-off grade of 10% Fe and Magsus greater than 100 and SXRF less than 10%.

All Mineral Resources are 100% gross attributable ML7/2013 at the Bukit Besi Project, Malaysia.

All Mineral Resources are 100% net attributable to Fortress.

Source: Qualified Person’s Report prepared by SRK Consulting (Australasia) Pty Ltd, dated August 2018.

BUKIT BESI MINE: MAIDEN JORC RESOURCE

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Westdeposit

Eastdeposit

Valleydeposit

Maiden Resource is contained within 3

deposit areas:

› West deposit: Six mineralised veins with

strike length of 350m, combined width of 75m

and extending sub-vertically from surface for

90m

› Valley deposit: Two mineralised veins both

with strike length of 125m, each with a

maximum width of 25m in the south at 100m

depth; veins are tapered to thinner (approx

5m) widths at the surface

› East deposit: Six mineralised veins with and

average strike length of 200m, average width

of 10m and extending vertically from surface

for 100m.

Source: Qualified Person’s Report prepared by SRK Consulting (Australasia) Pty Ltd, dated August 2018.

Bukit Besi ground magnetic and radiometric interpretation

BUKIT BESI MINE: WEST DEPOSIT

Interpreted geology of the West

deposit:

• Six mineralised veins with strike

length of 350m, combined width

of 75m and extending sub-

vertically from surface for 90m

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West deposit pit looking northSource: Qualified Person’s Report prepared by SRK Consulting (Australasia) Pty Ltd, dated August 2018.

BUKIT BESI MINE: VALLEY DEPOSIT

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Source: Qualified Person’s Report prepared by SRK Consulting (Australasia) Pty Ltd, dated August 2018.

› Left: Looking north along drill pads with large

boulders defining drop-off to stream and

historical tailings on right

› Right: Looking south-west over stream to

eastern SKM underneath historical tailings

Interpreted geology of the Valley deposit:

• Two mineralised veins both with strike length

of 125m, each with a maximum width of 25m

in the south at 100m depth; veins are

tapered to thinner (approx 5m) widths at the

surface

BUKIT BESI MINE: EAST DEPOSIT

Interpreted geology of the East deposit:

• Six mineralised veins with and average

strike length of 200m, average width of

10m and extending vertically from

surface for 100m.

16East deposit looking west

Source: Qualified Person’s Report prepared by SRK Consulting (Australasia) Pty Ltd, dated August 2018.

BUKIT BESI MINE

PROCESSING PLANT

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OUR MINING AND PRODUCTION PROCESS

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Blasting Removal of blasted materials

Crushing

Iron ore fines and lumps stockpile

Stage 1 grinding ball millsProcessing plant

Floatation Drying of iron ore concentrate

Stockpiled iron ore concentrate

ORE GRADE & QUALITY

• Ore quality analysis and

certification by independent

internationally accredited

laboratories

• High Fe grade 67.51%

• Low impurities, all within

tolerance levels of PRC mills

• Moisture content below tolerance

levels

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Kelantan Mine

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KELANTAN IRON ORE MINE

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➢Mining lease over 1,050 ha in Gua Musang, Kelantan (Bukit Besi

Mine: 526.2 ha)

➢Preliminary in-house geological surveys in progress

➢Positive initial ore discoveries including gold and other base metals

➢Management intends to adopt similar strategy as Bukit Besi Mine:

o Minimal JORC compliant exploration program

o Concurrent exploration, mining and production

o Minimise cash outlay and lead time to achieve positive EBITDA

Thank You

Fortress Minerals Pte Ltd No. 9-1, Jalan PJS 8/18, Dataran Mentari, 46150 Petaling Jaya, Malaysia.