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Corporate Presentation

Third Quarter and Nine Months Ended 30 September 201312 November 2013

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DISCLAIMERThis presentation should be read in conjunction with the unaudited financial statements announcement of AsiaPhos Limited (“the Company”) for

the third quarter and nine months ended 30 September 2013.

This presentation is prepared by the Company for informational purposes only and does not have regard to your specific investment objectives,

financial situation or your particular needs. Any information contained in this presentation is not to be construed as investment or financial advice,

and does not constitute an offer or an invitation to invest in the Company.

The information is current as of its date and shall not, under any circumstances, create any implication that the information contain therein is

correct as of any time subsequent to the date thereof or that there has been no change in the financial condition or affairs of the Company since

such date. The information and opinions contained in these materials are provided as at the date of this presentation and are subject to change

without notice. There is no undertaking by the Company to post any such amendments or supplements on this presentation. The information herein

has not been independently verified. No representation or warranty, expressed or implied, is made as to, and no reliance should be placed on the

fairness, accuracy, completeness or correctness, of the information or opinions contained herein.

In addition, the information contains projections and forward-looking statements that reflect the Company’s current views with respect to future

events and financial performance. These views are based current assumptions which are subject to various risks and uncertainties which may

change over time and in many cases are outside the control of the Company and its directors and may cause actual results to differ materially from

those projected. No assurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions are

correct. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Company’s current view of

future events.

Words and expressions not defined in this presentation have the same meaning as defined in the offer document of AsiaPhos Limited dated 25

September 2013 (the “Offer Document”) that has been lodged with and registered by the SGX-ST acting as agent on behalf of the Monetary

Authority of Singapore, unless the context requires otherwise.

The Company will not be responsible for any consequences resulting from the use of this presentation as well as reliance upon any opinion or

statement contained herein or for any omission. The Company nor its advisors make any representation regarding, and assumes no responsibility or

liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein. This document may not be used or

relied upon by any other party, or for any other purpose, and may not be reproduced, disseminated or quoted without prior written content of the

Company.

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Contents

About AsiaPhos

About Phosphate

Financial Performance

Outlook

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About AsiaPhos

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Snapshot of AsiaPhos

First Singapore-headquartered mineral resources company listed on the SGX-ST which is solely focused

on exploring and mining phosphate in the PRC

Rights to explore and mine phosphate, a valuable and non-renewable natural resource, in Sichuan Province,

the PRC

A vertically-integrated strategy to produce downstream phosphate-based chemicals

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Mine 1 Mine 2

Gongxing Industrial Zone

Mianzhu City

Location of Mines and Production Plants

Source: WGM Report

� Our operations are

located in the vicinity

of Mianzhu City,

Sichuan Province, the

PRC

� The new production

facilities are located at

Gongxing Industrial

Zone, which is only 40

km from our mines

� Close proximity to

customers

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Upon completion of our Rebuilding Programme, our vertically-integrated business model will involve the following:

Mining

Mining Operations (Upstream)

Chemical Production Operations (Downstream)

P4 Processing

• Process phosphate rocks to P4

Phosphate

Rocks

P4

Thermal Phosphoric Acid

Acid Manufacturing

• From P4 to thermal phosphoric acid

SHMP and STPP Manufacturing

• Process thermal phosphoric acid to phosphate-based chemical

products such as SHMP and STPPSHMP

(food & non food

grade)

STPP

(food & non food

grade)

Our Vertically-Integrated Business Strategy

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Upstream - Mining and Exploration Rights

Mine 1 Vicinity of Mine 1 Mine 2 Vicinity of Mine 2

Mining Rights Exploration

Rights

Mining Rights Exploration

Rights

Current licence

period

March 2011 to

December 2015

April 2012 to

April 2014

March 2011 to

January 2020

June 2012 to

June 2014

Permit area 1.6491 km2 0.55 km2 2.0237 km2 1.28 km2

Approved

production

scale

50,000 tonnes per

annum

Not applicable 200,000 tonnes

per annum

Not applicable

Note:

� Technical Report prepared by Watts, Griffis & McOuat (WGM), in accordance with NI 43-101, estimates that

phosphorus rock output of 1 million tonnes per annum is possible with proper planning and CAPEX, 28 Febuary

2013

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Source: WGM Technical Report, 28 Febuary 2013

Based on WGM Technical Report Tonnes

(million)

AverageP2O5

(%)

Measured and indicated resources (2 mines)

mining rights 20.6 29.43

exploration rights 1.6 26.99

Total 22.2

Inferred resources (2 mines)

mining rights 2.7 28.91

exploration rights 16.1 29.74

Total 18.8

Upstream - Independent Resource Estimate(prepared in accordance with NI 43-101)

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Downstream - Gongxing Production Facilities Phase 1

� Rebuilding programme in Gongxing Industrial Zone, Sichuan Province, the PRC

� Phase 1 completed: Primary processing plant of phosphate rocks to produce P4

o New site of approximately 54,863 m2

o Two new P4 furnaces, each with designed annual capacity of 10,000 tonnes

o Utilises current technology and equipment to enjoy

greater production efficiency and productivity

o Designed to withstand earthquakes of up to 7.0

on the Richter magnitude scale

o Commercial production of P4 expected in 2014

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Designed capacity

(per annum)

Status

Relocation and upgrading

of STPP plant

30,000 tonnes Completed

Thermal phosphoric acid

plant

30,000 tonnes Preliminary stage;

to commence

construction in 2014

SHMP plant 20,000 tonnes Preliminary stage;

to commence

construction in 2014

New site of approximately 92,425 m2

Application for land use rights in progress

Downstream - Gongxing Production Facilities Phase 2

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Independent Valuation

Source: Independent valuation report by Jones Lang LaSalle Corporate Appraisal and Advisory Limited, prepared and presented

in accordance with the VALMIN Code, 27 August 2013

* Based on exchange rate as at 31 March 2013

Two mines

P4

plant

Preferred value =

S$269.8 m*

Between RMB 1.0 billion (or approximately S$207.6 million*) and

RMB 1.6 billion (or approximately S$332.1 million*)

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Experienced Management Team

Dr Ong Hian Eng

CEO and Executive Director

Dr Ong Hian Eng

CEO and Executive Director

Wang Xuebo

General Manager of MianzhuNorwest

Wang Xuebo

General Manager of MianzhuNorwest

Simon Ong

Executive Director and

Head of HR and General Administration

Simon Ong

Executive Director and

Head of HR and General Administration

Rachel Goh

Group Financial Controller

Rachel Goh

Group Financial Controller

� CEO and Executive Director, Dr Ong Hian Eng, has extensive knowledge of, and

experience in, the phosphate industry

� Supported by a team of key executives based in Singapore and the PRC, with many

having over 10 years of relevant experience

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About Phosphate

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� Phosphate is a valuable and non-renewable natural resource

� Used to produce downstream phosphate-based chemical products, such as:

o yellow phosphorus (“P4”)

o thermal phosphoric acid

o sodium hexametaphosphate (“SHMP”)

o sodium tripolyphosphate (“STPP”)

� China is the world’s largest producer and consumer of phosphate rocks and

phosphates*

What is Phosphate?

*Source: CRU Industry Report, 21 June 2013

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Phosphate rocks are used in:

� P4 and other downstream phosphate-based chemical products

� Fertilisers

Uses of Phosphate and Related Chemicals

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Fire retardants

Oral hygiene products

Pharmaceutical products LCD panels

Beverages

Uses of Phosphate and Related Chemicals

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STPP is used in:

Food and beverage products Detergents

Uses of Phosphate and Related Chemicals

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SHMP is used in:

Paints Food processing Water treatment products

Uses of Phosphate and Related Chemicals

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Financial HighlightsFor third quarter and 9 months ended 30 September 2013

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Income Statement Highlights

S$'000 3Q2013 3Q2012 Change 9M2013 9M2012 Change

Revenue 3,604 1,356 �166% 5,758 3,949 �46%

Gross profit 1,314 540 �143% 1,816 1,608 �13%

Profit/(loss) before tax 118 (13) N.M. (2,487) 2,305 N.M.

Profit/(loss) after tax 118 (142) N.M. (2,487) 2,176 N.M.

“N.M” denotes not meaningful.

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2.43.0

1.2 1.10.3 0.4

0.4

1.5

3.74.6

1.1

3.2

0

1

2

3

4

5

6

FY2010 FY2011 FY2012 9M2013 3Q2012 3Q2013

Downstream Upstream

4.9

1.4

Revenue

166%166%

S$m

Increase in revenue came from both upstream and downstream segments.

� More phosphate rocks sold: 45,000 tonnes in 3Q2013 compared to 12,700 tonnes in

3Q2012

� Higher sales of STPP and slag (a by-product of P4 production)

2.8

4.5

3.6

5.7

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Upstream Segment – Mining Output

4.230.2

60.1

93.0

0

20

40

60

80

100

FY2010 FY2011 FY2012 9M2013

Tonnes (‘000)

384 385

445

352

0

100

200

300

400

500

FY2010 FY2011 FY2012 9M2013

Average Selling Price / TonneMining Output RMB

� Higher mining output:

• In the last three FYs, mining output mainly came from Mine 1, which is the smaller mine.

• In 9M2013, output from Mine 2 represented 11% of total output

� Lower average selling price in 9M2013: Group’s strategy to sell phosphate rocks of lower quality

while keeping the higher quality phosphate rocks for its own production

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Upstream Segment – Gross Profit and Margin

3Q2013: Gross profit ���� 122%; Gross profit margin ���� 10 pp

� Lower margin due to lower average selling price at RMB347 per tonne in line with the

Group’s strategy

0.1

0.9

1.8

1.50.5

1.0

28%

63%

47%

32%

42%32%

0%

20%

40%

60%

80%

0

1

2

FY2010 FY2011 FY2012 9M2013 3Q2012 3Q2013

Gross Profit Gross Profit Margin

S$m

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Downstream Segment – Gross Profit and Margin

3Q2013: Gross profit ���� 268%; Gross profit margin ���� 38 pp

� Due to stock take gains arising from our monthly stock counts recognised in 3Q2013

0.3

1.4

0.4 0.30.1

0.3

13%

48%

29% 28% 30%

68%

0%

20%

40%

60%

80%

0

1

2

FY2010 FY2011 FY2012 9M2013 3Q2012 3Q2013

Gross Profit Gross Profit Margin

S$m

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Balance Sheet

S$m As at 31 Dec 2012 As at 30 Sep 2013

ASSETS

Current Assets 10.4 9.6

Non-Current Assets 33.2 37.4

Total Assets 43.6 47.0

LIABILITIES

Current Liabilities 12.3 15.2

Non-Current Liabilities 2.7 2.9

Total Liabilities 15.0 18.0

EQUITY

Share Capital 32.5 33.5

Retained Earnings (3.9) (4.5)

Total Equity 28.6 29.0

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Outlook

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Outlook - Upstream

� Mining expected to resume in 4Q2013,

after the seasonal halt in 3Q2013 due to

wet weather

� Additional adits expected to come

onstream in 2014

Mining Activities

� Applied for an increase in the exploration

area from 0.55 km2 to 1.64 km2

� Pending approval from the Sichuan

Government

Mining Rights

Higher phosphate rock output expected

Greater flexibility in managing the sales of rock and the production of

downstream phosphate-based chemical products

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Outlook - Downstream

� Commercial production of P4 expected to

commence by 2014

� Expected to have positive impact on the

Group’s bottomline in FY2014

Production

� Applied to REACH for the relevant licences

to export our downstream chemicals to

the European Union

Sales

� Construction of SHMP and thermal

phosphoric acid plants expected in 2014

Vertical Integration

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This presentation has been prepared by the Company and its contents have been reviewed by the Company’s

Sponsor, United Overseas Bank Limited (the “Sponsor”), for compliance with the relevant rules of the SGX-ST.

The Sponsor has not independently verified the contents of this presentation.

This presentation has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no

responsibility for the contents of this presentation, including the correctness of any of the statements or

opinions made or reports contained in this presentation.

The contact persons for the Sponsor are Mr Khong Choun Mun, Managing Director, Corporate Finance and

Mr Low Han Keat, Senior Director, Corporate Finance, who can be contacted at 80 Raffles Place, #03-03 UOB

Plaza 1, Singapore 048624, Telephone: +65 6539 1177.

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Thank you