New Wo Europe's Producer Coking a and Ene at the of OUR BUSINESS

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New Wo Europe's Producer Coking a and Ene at the of OUR BUSINESS NWR Annual Report and Accounts 2010 New World ResourcesNew World New World Resources Annual Report and Accounts 2010 1 New World Resources N.V. is Central Annual Report and Accounts Europe’s leading hard coal and coke producer. The Company produces quality AT THE coking and thermal coal for the steel and energy markets in Central Europe. 2010 COAL pg 12 Our subsidiary, OKD, a.s. (‘OKD’) is the sole producer of hard coal in the Czech Republic and a significant player in the Central European market. Its four operating mines are located in the Karviná and Ostrava region, situated just south of the Polish border on the Upper Silesian coal basin. In 2010, OKD C RE produced 11.4Mt of coal. OF OUR BUSINESS COKE pg 20 Our coking subsidiary, OKK Koksovny, a.s. (‘OKK Koksovny’) is the largest producer of foundry coke in Europe, now operating from one site, Svoboda in Ostrava. OKK Koksovny produces both foundry and blast furnace coke from four batteries with a maximum capacity of 850kt per year. BUSINESS DEVELOPMENT pg 26 NWR KARBONIA S.A. (‘NWR KARBONIA’) oversees NWR’s two development projects in southern Poland – Dębieńsko and Morcinek. We were granted a mining licence to enable us to extract coal from Dębieńsko, valid for 50 years in 2008, and in 2010, we applied for an amendment to this licence along with acquisition of land and recruitment of a world-class engineering and technical team. For Morcinek, geological documentation is set to complete at the end of 2011. Further exploration work is planned for 2011 in accessing a second area, Morcinek 2. Front cover image Signposting NAME: RASTISLAV VALENčÍK We use the following symbol to point JOB TITLE: CHIEF DEVELOPMENT FOREMAN to sources of further information. MINE: DARKOV New World Resources N.V. 1 New World Resources N.V. is defined as ‘NWR’ more information within this document Jachthavenweg 109h or the ‘Company’ throughout this report. NWR and 1081 KM Amsterdam its subsidiaries are collectively referred to as the ‘Group’ or the ‘NWR Group’. www.newworldresources.eu The Netherlands NWR Annual Report and Accounts 2010 New World ResourcesNew World New World Resources Annual Report and Accounts 2010 1 New World Resources N.V. is Central Annual Report and Accounts Europe’s leading hard coal and coke producer. The Company produces quality AT THE coking and thermal coal for the steel and energy markets in Central Europe. 2010 COAL pg 12 Our subsidiary, OKD, a.s. (‘OKD’) is the sole producer of hard coal in the Czech Republic and a significant player in the Central European market. Its four operating mines are located in the Karviná and Ostrava region, situated just south of the Polish border on the Upper Silesian coal basin. In 2010, OKD C RE produced 11.4Mt of coal. OF OUR BUSINESS COKE pg 20 Our coking subsidiary, OKK Koksovny, a.s. (‘OKK Koksovny’) is the largest producer of foundry coke in Europe, now operating from one site, Svoboda in Ostrava. OKK Koksovny produces both foundry and blast furnace coke from four batteries with a maximum capacity of 850kt per year. BUSINESS DEVELOPMENT pg 26 NWR KARBONIA S.A. (‘NWR KARBONIA’) oversees NWR’s two development projects in southern Poland – Dębieńsko and Morcinek. We were granted a mining licence to enable us to extract coal from Dębieńsko, valid for 50 years in 2008, and in 2010, we applied for an amendment to this licence along with acquisition of land and recruitment of a world-class engineering and technical team. For Morcinek, geological documentation is set to complete at the end of 2011. Further exploration work is planned for 2011 in accessing a second area, Morcinek 2. Front cover image Signposting NAME: RASTISLAV VALENčÍK We use the following symbol to point JOB TITLE: CHIEF DEVELOPMENT FOREMAN to sources of further information. MINE: DARKOV New World Resources N.V. 1 New World Resources N.V. is defined as ‘NWR’ more information within this document Jachthavenweg 109h or the ‘Company’ throughout this report. NWR and 1081 KM Amsterdam its subsidiaries are collectively referred to as the ‘Group’ or the ‘NWR Group’. www.newworldresources.eu The Netherlands NWR Annual Report and Accounts 2010 Annual Report and Accounts 2010 NWR Coal Our operations Coke Development Project Dębieńsko development project NWR AT A GLANCE Reserves 190 million tonnes Poland Coal type Hard Coking Morcinek development project adjacent to our operations (ČSM) > We are Central Europe’s leading hard coal and Coal type Hard Coking coke producer, supplying 5.3 million tonnes of coking coal, 5.5 million tonnes of thermal coal Svoboda Coking Plant and 1.1 million tonnes of coke in 2010. Capacity 850 kilo tonnes Coke type Blast Furnace Coke/Foundry Coke > We are one of the largest private sector employers in the region, with 18,553 employees of which Karviná Mine 1 3,407 are contractors/agency staff. Production 4.2 million tonnes > We have development projects in Poland. Reserves 97 million tonnes > We have three subsidiaries which make up Coal type Semi-Soft Coking/Hard Coking/Thermal our operations: OKD, OKK Koksovny and NWR KARBONIA. ČSM Mine 2 3 Production 2.5 million tonnes > We have 396 million tonnes of JORC reserves. Reserves 50 million tonnes > We are listed on the London, Prague and Coal type Hard Coking Warsaw stock exchanges and headquartered in Amsterdam. Paskov Mine Production 0.75 million tonnes 1 Average over the reporting period. Reserves 26 million tonnes Czech Republic 2 As at 1 January 2011. Coal type Hard Coking 3 Full name: Joint Ore Reserves Committee. The Group currently uses both the FSU system and the JORC system in parallel to report reserves and resources. The Group employs a certified geologist who prepares the Darkov Mine reserve numbers in accordance with JORC certified expert. Production 3.3 million tonnes Reserves 44 million tonnes Coal type Semi-Hard Coking/Thermal Where we operate Regional Sales 2010 NWR coking coal sales by country 2010 NWR thermal coal sales by country 2010 Our mines are located near to our major customers’ operations in Central Europe1, giving us a significant Czech Republic 28% Czech Republic 52% Poland advantage over our seaborne competitors due to our lower Slovakia 26% Poland 22% transportation costs and our market’s landlocked location. Poland 19% Austria 18% Austria 18% Slovakia 4% Germany Other 9% Other 4% Czech Republic Source: NWR volumes Source: NWR volumes Slovakia Austria Hungary NWR coke sales by country 2010 NWR Germany 30% Coke customers Czech Republic 28% Coking coal customers Austria 24% 1 This map does not depict individual customers. Thermal coal customers Poland 9% Disclaimer and Cautionary Note on Forward Looking Statements and Notes on Certain Other Matters Slovakia 5% Certain statements in this document are not historical facts and are or are deemed to be ‘forward-looking’. The Company’s prospects, plans, financial position and business strategy, and statements pertaining to Other 3% the capital resources, future expenditure for development projects and results of operations, may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology including, but not limited to; ‘may’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘plan’, ‘foresee’, ‘will’, ‘could’, ‘may’, ‘might’, ‘believe’ or ‘continue’ or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will Source: NWR volumes prove to have been correct. These forward-looking statements involve a number of risks, uncertainties and other facts that may cause actual results to be materially different from those expressed or implied in these forward-looking statements because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond NWR’s ability to control or predict. Forward-looking statements are not guarantees of future performances. Factors, risk and uncertainties that could cause actual outcomes and results to be materially different from those projected include, but are not limited to, the following: risks relating to changes in political, economic and social conditions in the Czech Republic, Poland and the CEE region; future prices and demand for the Company’s products, and demand for the Company’s customers’ products; coal mine reserves; remaining life of the Company’s mines; coal production; trends in the coal industry and domestic and international coal market conditions; risks in coal mining operations; future expansion plans and capital expenditures; the Company’s relationship with, and conditions affecting, the Company’s customers; competition; railroad and other transportation performance and costs; availability of specialist and qualified workers; and weather conditions or catastrophic damage; risks relating to Czech or Polish law, regulations and taxation, including laws, regulations, decrees and decisions governing the coal mining industry, the environment and currency and exchange controls relating to Czech and Polish entities and their official interpretation by governmental and other regulatory bodies and by the courts; and risks relating to global economic conditions and the global economic environment. Additional risk factors are as described in the Company’s annual report. Forward-looking statements are made only as of the date of this document. The Company expressly disclaims any obligation
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