Mining South Australia Webinar Presentation - Renascor

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Renascor ResourcesLeveraging off a Tier 1 South Australian Mining Asset to Developa Downstream Battery Anode Material BusinessMining South Australia Webinar28 July 2020David Christensen, Managing DirectorASX: RNU

Forward Looking StatementsThis Presentation may include statements that could be deemed "forward-looking" statements. Although Renascor Resources Limited (the "Company") believes the expectations expressed in such forward-lookingstatements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statementsor may not take place at all.No Offer to Sell or Invitation to BuyThis Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in the Company, and no part of this Presentation forms the basis of any contract orcommitment whatsoever with any person. The Company does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdictionDisclaimerWhilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, the Company and its representatives make no representation, warranty or undertaking, express orimplied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation; accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and acceptno responsibility for any errors or omissions from this Presentation.Competent Persons StatementThe results reported herein, insofar as they relate to exploration activities and exploration results, are based on information provided to and reviewed by Mr G.W. McConachy (Fellow of the Australasian Institute of Miningand Metallurgy) who is a director of the Company. Mr McConachy has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012 Edition). Mr McConachy consents to the inclusion in the report of the matters based onthe reviewed information in the form and context in which it appears.BibliographyRenascor confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements noted below and referenced in this presentation and that allmaterial assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Renascor confirms that the form and context in whichthe Competent Person’s findings are presented have not been materially modified from the original market announcement.1.2.3.4.5.6.Renascor ASX announcement dated 25 January 2018, “Battery Grade Spherical Graphite Produced from Siviour”Renascor ASX announcement dated 30 April 2019, “High-Grade Measured Resource in Upgraded JORC Resource”Renascor ASX announcement dated 12 August 2019, “Positive Results from Spherical Graphite Tests”Renascor ASX announcement dated 11 November 2019, “Siviour Definitive Feasibility Study”Renascor ASX announcement dated 1 July 2020, ”Renascor Announces Battery Anode Manufacturing Operation”Renascor ASX announcement dated 21 July 2020, ”Updated Mineral Ore Reserve Estimate”Renascor Resources Ltd ASX: RNUrenascor.com.au2

South Australian graphiteThe growth in the electric vehicle market and the need for secure supply chains has the potential tounlock the rich graphite endowment of South Australia’s Eyre PeninsulaSouth Australian Graphite dGraphite eEast(1)Global Graphite Proven Reserves (1)Source: company reports.Renascor Resources Ltd ASX: RNUrenascor.com.au3

Section 1:Graphite Market44

Global EV growth is creating a paradigm-shifting event for battery mineralsStart of a global mega trend that will drive demand for minerals needed for lithium-ion batteriesEV sales as share of total carsWe are here(Source: Benchmark Mineral Intelligence)Renascor Resources Ltd ASX: RNUrenascor.com.au5

Graphite is an essential part of the transition to lithium-ion batteriesIncreasing amounts of natural graphite will be needed to meet projected lithium-ion battery growthWe are here(Source: Benchmark Mineral Intelligence)Renascor Resources Ltd ASX: RNUrenascor.com.au6

Graphite Concentrates are only starting to become a battery mineralBattery demand is growing at 19% annually (versus 2% for other uses)2028Battery demandOther 0554,000Current use of GraphiteConcentrates is primarily industrialBy 2023, battery demand isprojected to increase by five timesBy 2028, battery share of market isexpected to grow 2 million tonnes(Source: Benchmark Mineral Intelligence)Renascor Resources Ltd ASX: RNUrenascor.com.au7

EV momentum is stronger in market for Purified Spherical GraphitePSG is used exclusively in lithium-ion battery applications and thus provides more directexposure to growth in the EV sectorPurified Spherical Graphite DemandSOUTH AUSTRALIAPSG demandhas increased2.5x from 2015to 2019(Source: Benchmark Mineral Intelligence)Renascor Resources Ltd ASX: RNUrenascor.com.au8

Section 2:Battery Anode Material Study99

Renascor’s battery anode material project in the graphite supply chainRenascor is developing a vertically integrated operation consisting of a mine and concentrator plus adownstream operation to produce Purified Spherical Graphite (PSG) for sale to anode manufacturersRenascor Resources Ltd ASX: RNUrenascor.com.au10

China currently produces 100% of natural Purified Spherical GraphiteGraphite Concentrate feedstock obtained both domestically and internationally before being converted toPSG and used in China or exported to Japan and South KoreaEmergingEmergingExisting and emerginganode marketsSupplierSupplier and anode marketRenascor Resources Ltd ASX: RNUrenascor.com.au11

Renascor is a secure alternative source of PSG for anode makersRenascor offers a viable alternative to Chinese PSG supply through the first in-country mine andPSG operation outside of ChinaEmergingEmergingExisting andemerginganode marketsRenascor to mine and process GraphiteConcentrates before converting into PSG forexport to global anode marketsRenascor Resources Ltd ASX: RNUrenascor.com.au12

Renascor’s integrated battery anode material manufacturing operationRenascor is planning to be the first integrated, in-country mine and PSG operation outside of ChinaSOUTH AUSTRALIAEmergingEmergingAnode customersRenascor Resources Ltd ASX: RNUrenascor.com.au13

PSG sourced from Renascor’s Siviour Graphite DepositSiviour is unique in both its near-surface, flat-lying orientation and its scale asone of the world’s largest graphite ResourcesMineral Resource EstimateSiviour’s shallow, horizontal orientation and massive sizefacilitates comparatively low mining costsCategoryResources(Mt)TGC(%)ContainedGraphite d32.17.2%2.6Total87.47.5%6.6(Source: Siviour Mineral Resource estimate as of April 2019, seeRenascor ASX announcement dated 30 April 2019, p 1).Ore Reserve EstimateReserves(Mt)TGC(%)ContainedGraphite .4%3.8CategoryCross-section of Siviour (in red) in comparison to other graphite deposits(Source: Siviour Ore Reserve as of July 2020,see Renascor ASX announcement dated 21 July 2020, p. 2)Renascor Resources Ltd ASX: RNUrenascor.com.au14

Graphite Concentrate feedstock at industry leading costsGraphite Concentrate DFS confirms lowest quartile OPEX(Source: Benchmark Mineral Intelligence. See RenascorASX announcement dated 11 November 2017, p 27)Renascor Resources Ltd ASX: RNUrenascor.com.au15

Comparative advantage in PSG productionRenascor’s PSG production benefits from obtaining Siviour Graphite Concentrate feedstock at costof production, rather than market price. This price difference has an exaggerated impact on PSGoperating costs because only half of the Graphite Concentrates used as feedstock are spheronisedto PSG during the milling process.(See Renascor ASX announcement dated 1 July 2020, p 4.)Renascor Resources Ltd ASX: RNUrenascor.com.au16

Battery Anode Material Study financial resultsLow OPEX drives high margins and strong cash generationAverage annual LOM production of PSG28,000tLife of mine/project40 yearsStart-up capital cost of mine and concentratorA 114mUS 79mStart-up capital cost of battery anode material operationA 90mUS 63mTotal start-up capital (integrated operation)1A 204mUS 142mPayback of total start-up capital4.5 yearsNPV10 (after tax) of integrated operationA 713mIRR (after tax) of integrated operationUS 499m33%Average cost of Graphite Concentrate feedstock per tonne PSGA 1,107/tUS 775/tAverage cost of converting Graphite Concentrates to PSGA 1,735/tUS 1,214/tAverage gross PSG cash operating costA 2,842/tUS 1,989/tAverage net PSG cash operating cost (with by-product credit2)A 1,998/tUS 1,398/tProjected PSG sales priceA 6,160/tUS 4,312/tNet revenue of integrated operationA 9,552mUS 6,686mEBITDA of integrated operationA 6,267mUS 4,387mProject cashflow of integrated operationA 4,112mUS 2,878m(Source: Renascor ASX announcement dated 1 July 2020, p 3)Renascor Resources Ltd ASX: RNUrenascor.com.au17

HighlightsIntegration of battery anode material manufacturing operation with Renascor’sSiviour Graphite Project provides path to capitalise on electric vehicle (EV) growthParadigm-shifting event is starting to impact graphiteStrong influence on downstream market for PSG.Siviour is uniquely positioned to benefit from EV growthLocated in Australia, Siviour hosts one of the world’s largestgraphite Resources(1), with recent DFS confirming lowestquartile projected OPEX(2).Competitive advantage in production of PSGLow OPEX from mining operation creates a competitiveadvantage in the manufacture of PSG(3).Alignment with offtake partnersRenascor’s fully integrated Australian sourced and producedPSG provides commercially viable alternative to Chinese supply.Sustainable operationEco-friendly chemical purification satisfies sustainabilityrequirements of end-users and prospective financiers.Renascor Resources Ltd ASX: RNU(1)RenascorASX announcement dated 30 April 2019, p 1, andRenascor ASX announcement dated 21 July 2020, p 2.(2) Renascor ASX announcement dated 11 November 2019, p 27.(3) Renascor ASX announcement dated 1 July 2020, p 4.renascor.com.au18

Renascor Resources Limited36 North TerraceKent Town, South Australia 5067Phone: 61 8 8363 6989Email: info@renascor.com.auWebsite: www.renascor.com.auASX Code: RNU

1. Renascor ASX announcement dated 25 January 2018, "Battery Grade Spherical Graphite Produced from Siviour" 2. Renascor ASX announcement dated 30 April 2019, "High-Grade Measured Resource in Upgraded JORC Resource" 3. Renascor ASX announcement dated 12 August 2019, "Positive Results from Spherical Graphite Tests" 4.

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