Investor Presentation

July 2020 DISCLAIMER

These presentation slides (the “Slides”) do not comprise an admission document, listing Any investment, investment activity or controlled activity to which the Slides relates is particulars or a prospectus relating to AfriTin Mining Limited (“the Company”) or any available only to such persons and will be engaged in only with such persons. Persons of subsidiary of the Company, do not constitute an offer or invitation to purchase or any other description, including those that do not have professional experience in matters subscribe for any securities of the Company and should not be relied on in connection relating to investments, should not rely or act upon the Slides. with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any The Slides should not be distributed, published, reproduced or otherwise made available decision to sell or purchase securities in the Company. 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Accordingly, you should not regulatory authority of any state or other jurisdiction of the United States and may not be rely on any forward-looking statements and the Company accepts no obligation to offered or sold within the United States or to, or for the account or benefit of, any US disseminate any updates or revisions to such forward-looking statements. Person as that term is defined in Regulation S under the US Securities Act. The Company has not been registered and will not register under the United States Investment The Slides and their contents are directed only at persons who fall within the exemptions Company Act of 1940, as amended. The Slides and their contents are confidential and contained in Articles 19 and 49 of the Financial Services and Markets Act 2000 (Financial should not unless otherwise agreed in writing by AfriTin Mining Limited be copied, Promotion) Order 2005 (such as persons who are authorised or exempt persons within distributed, published or reproduced (in whole or in part) or disclosed by recipients to any the meaning of the Financial Services and Markets Act 2000 and certain other persons other person. having professional experience relating to investments, high net worth companies, unincorporated associations or partnerships, the trustees of high value trusts) and persons to whom distribution may otherwise lawfully be made. 2 Company Overview & Market Backdrop

3 ABOUT US: THE AFRICAN TIN CHAMPION

¡ A tin mining company with a portfolio of production and near production tin assets in Africa ¡ Uis Tin Mine – Namibia (production) – Previously the worlds largest open cast tin mine ¡ Mokopane Tin Project – South Africa ¡ Listed on AIM November 2017 ¡ London's ONLY pure play listed tin company ¡ Experienced Management team ¡ Management carries over 120 years of experience ¡ From listing on AIM to first production in two years ¡ Objective to become the tin champion of Africa ¡ Well placed to benefit from the tin supply shortage 4 LONDON’S ONLY PURE-PLAY TIN LISTING

The right commodity Low cost curve Sound market fundamentals, supporting First quartile cash-cost curve for Phase 2 stable commodity price outlook STRATEGIC PRINCIPLES Early production Scalable Phased development approach allows for early Large mining licence area with over 180 cash flows, while significantly de-risking Phase 2 mineralised, outcropping pegmatites

TIN OFFTAKE PHASE 1 ACHIEVE STEADY IDENTIFY AND EXPLORE AGREEMENT IN PLACE OPTIMISATION STATE PRODUCTION ADDITIONAL TIN STRATEGIC STUDY COMPLETE OPPORTUNITIES OBJECTIVES 2020

5 ENVIRONMENTAL, SOCIAL AND GOVERNANCE

AfriTin Mining complies with all applicable safety, health & environmental laws in addition to our own company policies and requirements. We strive to use resources sparingly so as to reduce the impacts of our operations on the environment, stakeholders and surrounding communities.

PLANET PEOPLE PERFORMANCE INTEGRITY

Monthly Monitoring Health & Safety of Economic contribution in We seek to gain competitive Ensuring compliance to the OEMP workers Namibia advantage through sound, ethical through monthly monitoring of: § OH&S policies and procedures are in § Close to N$200 000 000 has been and legal practices. place § Dust fallout spent in the development of the Uis Protection of our People § Surface water quality § Safety is reemphasised daily through Tin Mine § Commitment to respecting § Static borehole water levels safety talks and shares § Majority of this expenditure has § Onsite SHE field audits § H&S risks are assessed, controlled, labour & human rights occurred in Namibia § Monthly monitoring allows for mitigated and monitored We believe in a diverse & identification and mitigation of SHE Economic Support inclusive working environment Social Development § impacts in a timely manner. Zero-tolerance policy for any § Sponsoring of local soccer teams § All permanent staff at the Uis Tin form of harassment or bullying § Co-sponsorship of a borehole drilled Mine are Namibian citizens Stakeholder Engagement Pollution Control & Prevention in the Ugab River to provide water § Employing from within the local to wildlife community wherever possible § Commitment to transparency & § Waste rock is co-disposed with § Purchasing of tin mined by artisanal § Supporting the local economy by open communication tailings on existing waste rock dumps miners operating in the mining supporting local accommodation, § Uis Tin Mine has not identified § Good housekeeping practices are licence stores and restaurants any stakeholder engagement risks encouraged § Sponsoring the 2020 Rhino Run and § Businesses have opened in Uis and § The community is supportive of § A hydrocarbon spill management plan Ride in support of The Rhino Trust substantial developments have the Uis Tin Mine has been implemented onsite of Namibia occurred

AfriTin Mining is currently working towards compliancy with the International Finance Corporation’s Performance Standards and is aiming to obtain its Conflict Free Certificate. Best practices are implemented wherever possible. 6 TIN MARKET FUNDAMENTALS

Market overview Commodity demand in the electrical contact and battery materials markets - MIT ¡ Global tin market anticipated to be valued at US$8.23bn in Tin Lithium AV/EV 2023, robust long-term fundamentals Cobalt Silver Robotics ¡ Market is mature, well established, and highly consolidated Nickel Renewables Gold Oil & Gas ¡ Tungs… Tin is predicted to be the metal most positively impacted by Vana… Energy Storage Graph… IT the development of future technologies and ‘the Internet of Niobi… Other Things’ Zinc PGM… ¡ Including advanced energy-generation and energy-storage devices Salt ¡ Tin, tied with copper is the best LME performer in the first half Supply Shortage of 2020 ¡ Tin market has faced a consistent supply deficit over recent years, forecast to remain in deficit until 2022. Shortages due to: ¡ Production cuts from several Chinese smelters ¡ Closure of Chinese production plants in Yunnan ¡ Reduced exports from Myanmar ¡ Environmental and regulatory hurdles in Indonesia ¡ Depleting resources and grades from Latin America supply ¡ Ample opportunities for growth in the market which will serve to exacerbate the existing demand-supply gap 7 Refined tin demand currently outpaces supply (000t) - ITA TIN MARKET FUNDAMENTALS

¡ Semiconductor industry one of the biggest consumers of solder ¡ Global demand for semiconductors has a significant effect on the tin price due to the development of smart devices. ¡ Demand for semiconductors set to increase with the uptake in the - ITA 5G market, necessitating the development of new technology ¡ International Tin Association reporting demand could triple by 2050 ¡ The ITA anticipates the tin price to recover to pre-COVID levels of ~US$19 000/t Future Trends ¡ Increases in tin demand have historically coincided with technological advances ¡ Refined tin consumption of c.340-370ktpa makes it a relatively small market ¡ Major tin demand comes from electronic solder, chemical and tin plate use

8 Our Projects

9 MAJOR AFRICAN TIN PROVINCES

AfriTin’s portfolio includes an interest in a number of mining and exploration areas across Southern Africa

Erongo Region, Namibia ¡ Mining Licences Bushveld Complex, South Africa ¡ Uis: ML134 ¡ C1/B1: ML 129 ¡ Prospecting Rights ¡ Nai-Nais: ML133 ¡ Mokopane Tin ¡ Exploration Licences ¡ 2205PR ¡ Brandberg West: EPL5445 Tin Provinces of Africa ¡ 2371PR ¡ Goantagab: EPL5670 AfriTin assets Sn, Li and Ta 10 NAMIBIAN ASSESTS – A REGIONAL FOOTPRINT

Historical mining footprint only a fraction of existing licence areas in a proven tin province. AfriTin aims to expand the company's footprint across the region.

EPL5 670

EPL5 445

ML 134 ML 129 ML1 33 SOURCE: GOOGLE EARTH ¡ Brandberg West: Exploration licence EPL5445 covering 30 089 Ha ¡ Historically producing tin-tungsten deposit from the 1940’s - 1980’s, owned by SWACO, a Goldfields subsidiary ¡ Exploration programme planned for 2020 ¡ Goantagab: Exploration licence EPL5670 covering 18 950 Ha ¡ Uis: 3 fully permitted mining licences: ML134 (the location of current mining activity), ML129 and ML133, with a combined coverage of 27 860 Ha 11 UIS – FLAGSHIP ASSET

HISTORIC (CIRCA 1989) ¡ Historically the largest hard-rock tin mine in the world ¡ Operating in excess of 3 decades ¡ Historic production rates of ~1 500 tonnes Sn concentrate per annum ¡ Large scale, conflict-free deposit located in mine friendly CURRENT Plant Discard Namibia Grits Thickener Dewatering ¡ Store Mining licences in place ¡ Tin mineralisation complimented by significant by-product

DMS 2 & potential including Primary DMS 3 Workshop Crusher Filter ¡ Lithium ROM Press Stockpile ¡ Tantalum Concentrate Store ¡ Primary Rare earth elements (REE’s) Stockpile Spiral Plant ¡ Secondary 2 phase multi-commodity development plan Crushing DMS 1 Plant ¡ Phase 1: Plant fully operational and undergoing ramp-up Diesel Storage Backup Main ¡ Phase 2: studies in progress generators Reservoir Offices 12 PROGRESS AT UIS

§ Achieved a globally significant JORC-compliant mineral resource estimate (MRE) for V1 and V2 § 95,539t of tin § 6,091t of tantalum § 450,265t of lithium oxide

§ Construction of processing plant completed

§ Processing plant production of tin concentrate commenced

§ Offtake agreement signed with Thaisarco § 4 successful shipments to date

§ Ramp-up to nameplate capacity in progress § Debottlenecking in progress

§ Robust Phase 1 economics confirm the significance of the pilot mining and processing facility as a full- scale commercial operation 13 GEOLOGICAL MODEL

141 drill holes over V1 V2 pegmatites ¡ Multiple mineralised pegmatites mapped ¡ Historical IMCOR drill data for V1 and V2 pegmatites has been validated by AfriTin’s Phase 1 exploration programme, allowing incorporation into geological modelling ¡ 141 drill holes along a 25m grid spacing utilised for high resolution modelling ¡ Phase 1 weighted averages used for pegmatite intersections ¡ V1 and V2 pegmatite intersections occur at depth ¡ Drill data shows significant down dip thickening of the ore body compared to surface outcrop ¡ 3-D geological model completed and a JORC compliant resource declared ¡ Utilised for block modelling and mine design

14 UIS JORC-COMPLIANT MINERAL RESOURCE ESTIMATE

Globally significant maiden resource

¡ Drill results validated the historical exploration data generated by ISCOR subsidiary IMCOR, allowing an additional 141 drill holes to be incorporated into the mineral resource estimate ¡ Ancillary elements analysed during the drilling campaign confirmed Ta and Li by-product potential ¡ The ancillary elements reported as part of the inferred mineral resource as the minerals were not sampled for in the historical ISCOR data ¡ The maiden resource is comprised from only one of the 12 existing pits (covering 16 pegmatite bodies) at Uis, namely V1V2 ¡ Total tonnes of ore reported in the JORC compliant MRE for V1V2 pegmatite body alone is greater than that reported for the historic reserve estimate over 16 historic pegmatite bodies

Historical Non-JORC Complaint Reserve Estimate* for 16 MRE of Tin within the V1 and V2 Pegmatites MRE of Ancillary Elements within Uis pegmatite bodies (Cut-off Grade 0.05% Sn) the V1 and V2 Pegmatites

Proven Probable TOTAL Measured Indicated Inferred TOTAL Inferred Inferred

Commodity Sn Sn Sn Commodity Sn Sn Sn Sn Li2O Ta

Grade 0.136% 0.135% 0.136% Grade 0.139% 0.136% 0.130% 0.134% 0.63% 85 ppm

Tonnes of 48 426 800 21 896 900 70 323 800 Tonnes of Ore 21 540 000 13 050 000 36 950 000 71 540 000 71 540 000 71 540 000 Ore

Contained Contained 65 860 29 561 95 421 29 899 17 765 47 875 95 539 450 265** 6 091 Metal (t) Metal (t)

*SRK report declared reserve estimate in 1989 ** Metal refers to Li2O 15 EXPLORATION UPSIDE

¡ Concurrent exploration programmes are targeting higher grade pegmatites with low stripping ratios ¡ Regional mapping programme completed on surrounding pegmatites ¡ Visual confirmation of cassiterite mineralisation for over 180 pegmatites within 5km of processing plant ¡ Detailed mapping programme identified higher grade greisenised areas within mineralised pegmatites ¡ Ore bodies are up to 80m thick and over 1km along strike ¡ 67-meter intersection of the W17 pegmatite, south of mining area, displayed visible cassiterite grains over the entire intersection ¡ Historical pits mined on outcropping pegmatite, over 12 existing pits, these comprise historical SRK reserves (1989)

SOURCE GOOGLE EARTH 16 MINING

¡ Mining operations over the V1 and V2 pegmatites were established in May 2019 Section: V2 Pegmatite Section: V1 Pegmatite Topography ¡ Conventional open pit mining methods, with a 900 amsl Topography truck and excavator mobile equipment 800 amsl Phase 1 combination utilised Phase 5 Phase 4 ¡ The combined mine plan delivers 2.75 million Phase 2 750 amsl tonnes (represents 3% of the historical resource) 850 amsl of pegmatite at an average overburden stripping V2 Pegmatite V1 Pegmatite ratio of 1:1.5 to ensure exposure of ore in the 800 amsl 700 amsl long-term ¡ Mine design, at 0.5 Mtpa RoM, provides Hanging Wall sufficient inventory to supply Phase 1 processing plant with ore for more than 5 years., with the V1 and V2 pegmatite ore bodies supporting V2 Pegmatite mining production rates far beyond the current requirements ¡ Mine design exploits outcropping pegmatites and excavations of the historical Uis mine Person for Scale ¡ Potential for fast production ramp-up 17 METALLURGY

¡ Coarse grained cassiterite crystals allowing for easy liberation through crushing ¡ Efficient pre-concentration with dense medium separation (DMS) produces 80% waste rejection at high recoveries ¡ Large material density differentials 3 (cassiterite/columbite > 5.0 g/cm , gangue 3 2.7 g/cm ) allowing for efficient dense medium and gravity separation ¡ Tantalite associated with the tin concentrate ¡ Preliminary lithium test work indicates potential for lithium by-product. Further test work planned ¡ Plant design targets: ¡ Sn recoveries >60% at concentrate grades of 60% Sn ¡ Ta recoveries >15% at a concentrate grade of 22% Ta ¡ Li recoveries >28% at a concentrate grade of 4% Li O 2

18 PROCESS FLOW DIAGRAM

19 INFRASTRUCTURE

¡ Power supply ¡ Formal (10 year) supply agreement concluded with Namibia Power Corporation: § Provides for the full on-site power requirements for Phase 1 mining and processing facility from the national grid § AfriTin constructed its own substation to transform the supply to medium voltage (11 kV) and installed a miniature substation to distribute power at 400 V in the processing plant § Significantly more cost effective than diesel generated power ¡ Supply voltage of 66 kV ¡ Supply capacity of 1.5MVA ¡ Diesel generators currently in place to serve as backup power to the grid ¡ Water supply ¡ Geohydrological study, water drilling and test pumping completed ¡ Process water requirements are supplied from well fields and open-pit lake areas in the surrounding mining area ¡ AfriTin is fully permitted for water abstraction from boreholes (groundwater not potable but is suitable for use as plant water) § Regional investigations for additional groundwater resources have commenced 20 UIS PHASE 1: PROCESSING PLANT EXPANSION

AfriTin plans to increase the production capacity of the Phase 1 processing plant beyond the current Stage I. This will occur in three distinct steps (Stages II-IV).

Stage I Stage II Stage III Stage IV

Ore feed: 80tph Ore feed: 120tph Ore feed: 120tph Ore feed: 120tph Tin feed grade: 0.139% Sn Tin feed grade: 0.139% Sn Tin feed grade: 0.139% Sn Tin feed grade: 0.158% Sn Tantalum feed grade: 85ppm Tantalum feed grade: 85ppm Tantalum feed grade: 85ppm Tantalum feed grade: 85ppm

Lithium feed grade: N/A Lithium feed grade: N/A Lithium feed grade: 0.63% Li2O Lithium feed grade: 0.63% Li2O Tin recovery: 60% Tin recovery: 70% Tin recovery: 70% Tin recovery: 70% Tantalum recovery: 15% Tantalum recovery: 30% Tantalum recovery: 30% Tantalum recovery: 30% Lithium recovery: N/A Lithium recovery: N/A Lithium recovery: 28% Lithium recovery: 28% Tin conc. grade: 60% Sn Tin conc. grade: 60% Sn Tin conc. grade: 60% Sn Tin conc. grade: 60% Sn

Tantalum conc. grade: 22% Ta2O5 Tantalum conc. grade: 22% Ta2O5 Tantalum conc. grade: 22% Ta2O5 Tantalum conc. grade: 22% Ta2O5

Lithium conc. grade: N/A Lithium conc. grade: N/A Lithium conc. grade: 4% Li2O Lithium conc. grade: 4% Li2O

• Increase throughput capacity • Pilot plant construction completed • Addition of petalite by-product • Expansion of tin and tantalum • Increase tin recovery • Ramp-up to steady state in progress • Initial lithium test work complete concentrate production • Increase tantalum recovery

21 PHASE 1 ECONOMICS

Relative increase in NPV on a cumulative basis for each stage of the Phase 1 ¡ Stage I of Phase 1 provides a solid platform at a expansion 140 IRR: Overall robust operating profit margin 33% IRR: 60% 120 IRR: 13 ¡ Long-term profit margin of 25% Millions 65% 100 ¡ Provides robust free cash flows over LOM 43 80 IRR: ¡ 60% Additional development stages have the potential 60 123

NPV (US$'m) 39 to substantially increase the commercial value of 40

the Phase 1 operation 20 28 ¡ Overall NPV over US$ 120.0 mil 0 Stage I Stage II Stage III Stage IV Total ¡ Overall IRR increase of 60% Updated Phase 1 economics summary with the economic potential of Stages II-IV ¡ High-level CAPEX estimates required for Parameter Units Stage I Stage II Stage III Stage IV implementation of Stages II-IV: FCF (cumulative) USD/annum 1,530,000 6,690,000 12,110,000 14,940,000 ¡ Stage II – US$ 11.0 mil NPV (cumulative) USD 27,590,000 66,850,000 109,960,000 122,940,000

¡ Stage III – US$ 10.0 mil IRR (cumulative) % 60% ¡ Stage IV – US$ 7.5 mil C1 Cash Cost USD/t tin metal 13,900 9,000 -6,300 -5,300

¡ Stages II-IV will be financed by organic growth LOM (measured Years 39 26 26 26 resources only) cash flows and long-term facilities where Payback Period Years N/A 1.9 1.9 2.1 necessary (after tax) 22 UIS PHASE 2: LONG TERM DEVELOPMENT PLAN

Phase 2 Objectives § Leverage the production profile of Phase 1 in order to expand the operations of the business

§ Large-scale operation producing at least 5000 tonnes of tin concentration, representing ~1% of the global tin supply § Identify further mineralised pegmatites within project and regional area § Growth of portfolio through acquisition in country and elsewhere in Africa § Revenues in excess of $100million in 5 years

23 EXPOSURE TO A MAJOR TIN ASSET OF GLOBAL SIGNIFICANCE

§ Clear development timeline with catalysts for value creation: § Fully permitted operation § Production commenced August 2019 § V1 V2 resource JORC-compliant § Robust Phase 1 economics § Commencement of Phase 2 expansion

§ Junior mining company that delivers § Strong geological potential from a historically producing mine § Multi-commodity optionality § A stable mining investment jurisdiction § Strong medium-term demand for tin underpinned by growing applications in new technologies

24 Appendices

25 TEAM

Professional team with over 120 years of combined mining experience.

Glen Parsons Frans van Daalen Chairman COO § CEO of Mariana Resources from 2010 until its sale to Sandstorm for $175m in § Qualified mining engineer with 20 years’ operational and technical July 2017 experience § 20+ years’ experience both as a mining executive and in investment banking § Co-founder and director of VBKom

Anthony Viljoen Machiel Odendaal CEO Lead Engineer § Mining entrepreneur – over 2 decades operating in Africa § Qualified electrical engineer with 40+ years’ experience and Chief § Founding director and former CEO of Australian listed Lemur Resources Engineer at various mining operations in Southern Africa § Successfully founded and directed Bushveld Minerals (AIM: BMN). § Non-executive director at Bushveld Minerals Terence Goodlace Timothy Marais Non-executive Director Exploration Manager § 40+ years’ experience in mining; currently NED at Gold Fields and Kumba Iron § Qualified exploration geologist with over 8 years’ experience Ore Limited § Worked on multiple commodity projects across Africa – focus on project § Previously Gold Fields COO, Metorex Limited CEO, Impala Platinum CEO development, management and near-term value realisation

Laurence Robb Jan Rabe Non-executive Director Lead Process Engineer § Professor of Economic Geology and Director of the Economic Geology Research § Qualified metallurgical engineer with 17 years’ experience, Jan has fulfilled Institute, University of the Witwatersrand’s School of Geosciences various technical management roles § Technical Director of Lerama Resources

Roger Williams Rob Sewell Non-executive Director CFO § Over 20 years’ international experience in mining finance, currently NED of § Chartered Accountant CA(SA) with 14 years commercial and financial Sylvania Platinum and Digby Wells and Associates experience across various industries § Previously CFO Randgold Resources and CFO of AECI § Completed training at Deloitte in Johannesburg and gained international experience during a secondment to Deloitte Sydney office 26 SHAREHOLDER INFORMATION AfriTin Mining Share Price Performance

Top 10 Shareholders as at 28 Feb 2020 4

INSTITUTION HOLDING % STAKE 3.5

Naminco Limited 91 931 731 14,1% 3 The Orange Trust 64 874 704 9,9% 2.5 Ticker ATM Bushveld Minerals Limited 51 995 342 8,0% 2 Market AIM Share Price (GBp) Hargreaves Lansdown 49 190 022 7,5% Shares in issue 653 146 3731 1.5 Acacia Resources Limited 41 192 121 6,3% 1 Capital International IOM 27 018 861 4,1%

Premier Miton Group PLC 22 967 231 3,5% Date Mr Stephen Pycroft 22 193 851 3,4% Analyst Research Interactive Investors 20 419 027 3,1% Revenue (USD$) Target Price Phase 1 NPV (USD$) House (Phase 1- Steady state) Halifax Share Dealing 18 241 184 2,8% 14.4p 38.2m 68m Total top 10 410 024 074 62,788%

Management 23 382 476 3,58% 11.4p 33.3m 92.7m Others 219 739 823 33,64% 11.1p 31.2m 57m Total 653 146 373 100% Average 12.3p 34.2m 72.6m 27 TANTALUM MARKET FUNDAMENTALS

Forecast year-end tantalum pentoxide nominal prices, 2019- 2028 (US$/kg Ta2O5) – Roskill

¡ Tantalum industry is relatively small, comprised of a limited number of producers ¡ Tantalum market driven by use in capacitors, tantalum chemicals, alloy additives, sputtering targets, mill products and cemented carbides ¡ Roskill forecasts global demand will by grow by 4 - 5% pa between 2018 and 2028 ¡ Increasing from ~2 300 tonnes to ~3 500 tonnes Ta ¡ Strong demand growth rate predicted: ¡ Increases in major applications of capacitors ¡ Strong growth in the alloy additives industry ¡ Maintained growth in all other sectors

Forecast global consumption of tantalum by application, 2018-2028 (tonnes Ta) – Roskill 28 PETALITE MARKET FUNDAMENTALS

¡ Low-iron petalite utilised in the technical-grade lithium market ¡ Manufacturing of glass, ceramics, frits, glaze and fibreglass ¡ Limited test work to date indicates that Uis petalite falls within commercial specification ranges ¡ Petalite demand driven by growth in the glass and ceramics industries ¡ Lithium demand in the glass and ceramics industries forecast to increase to ~1.36 Mt of 4% Li O petalite 2 concentrate by 2030 (~135 000 LCE (lithium carbonate equivalent)) ¡ Current suppliers not anticipating a large increase Projection of worldwide lithium demand for ceramics from in supply 2019 to 2030 in LCE (lithium carbonate equivalent) – M. Garside ¡ Opportunity for new petalite suppliers who meet the required specifications to enter the market

29 COMPANY STRUCTURE

30 UIS – ASSET HISTORY

IMCOR acquires the asset and installs a c. 35tph tin recovery Imcor enlarges the plant to c. Discovery of plant to produce cassiterite 140tph producing c. 100-120 tpm the asset. concentrate. cassiterite.

1911 1948/51 1958 1966 1980 1989

Asset is acquired by Mr Angus Munro; Uis IMCOR enlarges the plant to Tin Mining Co (SWA) is established and c. 100tph and commenced SRK publishes a ‘LoM Plan large-scale mining commences. building the village of Uis. Report for 1989-2063’*. These were historical estimates that were not reported to a ny recognised minerals industry reporting code.

Greenhills (Bushveld subsidiary) purchases Uis Tin Mine closes 85% stake from AfriTin following the tin price Mining Namibia1. collapse in the mid-1980s.

1990 2016 2017 AfriTin lists on AIM A new dawn for Uis with Uis as its flagship asset 1 Was renamed to AfriTin Mining Namibia in January 2019 (between 2014 and 2016 the entity was called Dawnmin Africa Investments) 31 NAMIBIA: A STABLE INVESTMENT JURISDICTION

§ Complimentary mining and exploration jurisdiction with a developed Walvis Bay Port upgrade Road between Uis transport infrastructure completed and Walvis Bay § Stable democracy with an independent, strong legal system § Country encourages foreign investment § Long established Mining Act – mining law in Namibia is mainly regulated by the Minerals Act 33 of 1992 which was amended in 2008 § Mining is the biggest contributor to Namibia’s economy in terms of revenue and consequently, an important industry § Fraser Institute lists Namibia No. 60 globally in terms of investment attractiveness and No. 36 globally in policy perception. *Corruption Perception Index 2018 th § 5 most transparent country in Africa § Access to the mine is via a regional network of roads which are well maintained by the Namibian government § The newly upgraded port of Walvis Bay serves as the point of export for the company’s mining products 32 OTHER ASSESTS: SOUTH AFRICA

§ Mokopane Tin Project – located on the northern limb of the Bushveld Complex § Prospecting right 2205PR covering six farms (13 253 Ha) § Prospecting right 2371PR covering three additional neighbouring farms (awaited) § Four targets identified, exploration conducted on two targets to date, with 18 447 tonnes contained Sn resource established § Scoping Study completed October 2014 § Base case RoM of 691ktpa to produce ~700tpa of 99.5% Sn purity metal, yields positive economics with a significant IRR of 34.6% § Low quartile operating costs: $14,276/tonne of tin metal produced (as of 24 September 2014) § Potential additional 5,000 tonnes contained Sn resource in the underground lease target area § Greenhills interest = 74%, 26% held by local Black Economic Empowerment partners 33 COMPANY INFORMATION

Anthony Viljoen, CEO [email protected] www.afritinmining.com

Registered office 18 – 20 Le Pollet Corporate Advisor and Joint Broker St Peter Port Guernsey 2 Park Street Broker London 8 Frederick’s Place Representative office W1K2HX London 2nd Floor, Building 3 United Kingdom EC2R 8AB Illovo Edge Office Park United Kingdom Corner Harries & Fricker Road Illovo Johannesburg, 2116 South Africa

Investor Relations – UK 55 Baker street 1 Cornhill Marylebone London London EC3V 3ND W1U 7EU United Kingdom United Kingdom +44 (0) 20 7920 3150

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