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9 May 2019 1 As You May Be Aware, in August 2018 Hancock

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9 May 2019 1 As You May Be Aware, in August 2018 Hancock 9 May 2019 OPEN LETTER FROM THE HANCOCK GROUP TO LOCAL COMMUNITIES REGARDING RIVERSDALE RESOURCES As you may be aware, in August 2018 Hancock Prospecting joined the Riversdale shareholding register with a 19.99% interest, and in February 2019 announced an offer to acquire the remaining shares in the company. Riversdale is developing the Grassy Mountain Project, a world-class mining operation in the Crownsnest Pass area, to export high quality steelmaking coal. The Grassy Mountain Project is a C$750 million Tier 1 Global Steelmaking Coal Project that will be a major stimulus to the Alberta and Canadian economy, providing substantial positive impacts to jobs and the region. Following acceptances by Riversdale’s largest shareholder, Resource Capital Funds, and many of its other shareholders, on 8 May Hancock achieved a controlling interest of more than 50% of Riversdale (with 88% as at that time) and currently holds more than 99% of the company. As an experienced developer of tier one minerals projects, Hancock will strongly support and pursue the development of the Grassy Mountain project in line with Riversdale’s existing plans. In fact, Grassy Mountain is now Hancock’s highest priority development project. The knowledge, skills and resources within Hancock will be applied to support the Grassy Mountain development to ensure its long-term success. As stated in Hancock’s public announcement following gaining control of Riversdale: Hancock Chair, Mrs Gina Rinehart stated “For a long time, Hancock has wanted to find a good metallurgical coal opportunity to complement our iron ore projects – both commodities being critical for steelmaking. Grassy Mountain is a good strategic fit for Hancock that adds to our existing iron ore interests in Hope Downs, Roy Hill and Atlas Iron. We look forward to working with Riversdale’s staff and other stakeholders to deliver this exciting project.” Hancock is committed to establishing and maintaining strong and productive relationships with key stakeholders associated with our projects. Hancock will continue to work closely with First Nations, local communities and other stakeholders. The existing Riversdale management team led by Alisdair Gibbons, our employees and contractors are critical to our success and have the full support of Hancock. In line with our commitment to locally based leadership, Hancock intends that Riversdale’s Chief Executive Officer and Chief Financial Officer will each be based in Alberta. Hancock has committed to Riversdale’s employees that the Canadian offices will be retained, and will take on additional responsibilities when the currentSydney (Australia) administrative office isphased out. Hancock is a significant privately-owned company, with net assets of more than A$19B. At its roots, Hancock is an explorer and developer of minerals assets. Following development, Hancock’s focus is that of a strategic long term owner, being to ensure safe and sustainable operations and the pursuit of growth. Hancock is the owner of three major operating iron ore operations in Australia’s Pilbara region: Hancock holds a 50% interest in the 46 million tonnes per annum (mtpa) Hope Downs Project (in a joint venture with Rio Tinto) and a 70% interest in the A$10B Roy Hill project. Hancock led the studies, permitting and development of Roy Hill, which involved building the mine, a dedicated 344km railway and port facilities. Roy Hill’s production and shipments of iron ore have successfully ramped up to 55mtpa, and an expansion 1 9 May 2019 to 60mtpa is currently being constructed. Separately, during 2018 Hancock completed the acquisition of Atlas Iron Limited, which currently produces approximately 8mtpa of iron ore. Hancock also has various iron ore exploration projects and interests in Western Australia’s Pilbara region and in other parts of Australia, Europe and the Americas. 2 .
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