unlocking value for a better tomorrow

UNLOCKING VALUE FOR

A BETTER TOMORROW

Corporate Presentation – December 2021

Turning around Undervalued Assets

A Proven Strategy

CORPORATE PRESENTATION

Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or

operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words

“believe”, “expect”, “anticipate”, “target”, “plan”, “objective”, “assume”, “intend”, “project”, “pursue”, “goal”, “continue”, “budget”, “estimate”, “potential”, “may”, “will”, “can”,

“could”, “would”, “should” and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including,

without limitation, with respect to: (i) Boroo’s forward-looking production guidance; (ii) estimates of future cost of sales per ounce for gold, total cash costs per ounce,

and all-in-sustaining costs per ounce; (iii) mine life and production rates; (iv) estimated timing for construction of, and production from, new projects; (v) potential

mineralization and metal or mineral recoveries; (vi) our ability to convert resources into reserves; and (vii) expectations regarding future price assumptions, financial

performance and other outlook or guidance.

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors

set forth below that, while considered reasonable by the Company as at the date of this presentation in light of management’s experience and perception of current

conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown

factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such

statements and information.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any

forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the

forward-looking statements made in this presentation are qualified by these cautionary statements.

DEC 2021BOROO 2

FORWARD-LOOKING STATEMENT

CORPORATE PRESENTATION DEC 2021BOROO 3

Growth Oriented Management

CORPORATE STRATEGY AND HISTORY

October 2018

Boroo (then OZD Asia Pte. Ltd) acquired

Centerra Gold Inc’s Mongolian Mining

Asset

1

March 2019

Boroo Heap Leach operation starts

commercial production

2

July 2020

Boroo Mill commercial production started and fully re-commissioned

at 5,500tpd

3

February 2021

Boroo reached an agreement to acquire Lagunas Norte mine

from Barrick Gold

4

June 2021

Boroo completes the acquisition of Lagunas

Norte Mine

5

OUR STRATEGY

Optimize our mineral resources, capital assets and human resources to turn-around under-valued assets through:

EFFICIENCY INNOVATION OPERATIONAL

EXCELLENCE

DISCIPLINED CAPITAL

ALLOCATION

RESPONSIBLE

ESG


Diverse Producing Asset Base

OUR PORTFOLIO

CENTRAL ASIA

MONGOLIA

Boroo Gold Mine

Ulaanbulag Gold Mine

Mineral Resource

1.0 Moz

Average Grade

2.0 g/t

Mineral Reserve

4.0 Moz

Operating Mine

Exploration Targets

SOUTH AMERICA

PERU

Lagunas Norte Gold Mine

LN Exploration Targets

SINGAPORE

Corporate Headquarters


WELL DEFINED GROWTH STRATEGY

DEVELOPMENT &

GROWTH PROJECTS

CONSTRUCTION

STAGE PROJECTS

PRODUCING

MINES

PRODUCING MINES


Boroo Gold Gold Mine


STRATEGIES

EXPANDING our producing asset base through

mergers and acquisitions

RESTARTING and OPTIMIZING operations at our

producing mines through leveraging well-

established infrastructures and our approach

GENERATING and INCREASING cashflow as

shortest time possible for enabling next growth

projects

CONSTRUCTION STAGE PROJECTS

CMOP Project

Zona Sur Project

STRATEGIES

Under BUDGET

On SCHEDULE

Constant OPTIMIZATION

DEVELOPMENT & GROWTH PROJECTS

PMR Project

12 exploration targets near Lagunas Norte

STRATEGIES

ADVANCING and further OPTIMIZING the

PMR project

DISCOVERING and INCREASING our

mineral resources from our identified

exploration targets


PERU OPERATIONS

TURNING AROUND UNDERVALUED ASSETSA PROVEN STRATEGY

World-class mine which was operated

by Barrick Gold Corporation

Owns 100% of the Lagunas Norte Gold

Operations

Located in center of a district with over

25 Moz Au endowment

Continuous production since

2005

Historical production of

over 10 Moz Au


Our Advantages

PERU OPERATIONS

Existing

well-established

infrastructure

Extensively studied

construction stage

projects

Experienced

management and

employees

Strong relationship

with governments

and regulators

Excellent community

support for ongoing

mining and

exploration activities



PERU OPERATIONS

PERU


Lagunas Norte

Trujillo

Lima PERU

165 Koz p.a

LOM Target

Production

US$ 800 – 830

LOM Target

AISC

4.0 Moz

At Jun 2021

P&P Reserves

0.7 Moz

At Jun 2021

M&I Resources

LOM KPI

LAGUNAS NORTE GOLD MINE

Acquired on 1 June 2021 from Barrick Gold Corporation, Lagunas

Norte is located in Alto Chicama gold district, which has produced

over 25 Moz to date and it was the second biggest mine with gold

reserve and resource in Peru

Over 1.5 million meters of drilling work completed at Lagunas Norte.

2P reserves of 4.0 Moz Au + M&I resource of 0.7 Moz Au

Lagunas Norte mine has 12 near-mine targets with potential of up to

8 Moz Au under various stages of advancement. Infill drilling

program planned to commence at La Capilla area in 2022

Since acquisition, Boroo focused on increasing gold recoveries from

the secondary leaching, such as remining, irrigation optimization

and solution management and low-pressure deep injection leaching

Overview


Construction Stage and Development/Exploration Projects at Lagunas Norte to Unlock Value

PERU OPERATIONS

Contained Ounces of 1.2 Moz Au

+ CMOP Project

1

Contained Ounces of 90 Koz Au

+ Leaching Extension

Opportunity

2

Contained Ounces of 324 Koz Au

+ Zona Sur Project

3

Contained Ounces of 3.0 Moz Au

+ PMR Project

4

Potential Discoveries of Recoverable Ounces

+ New Discoveries from Exploration Areas

5


Growing to Become a Mid-Tier Metals Producer

PERU OPERATIONS

ACHIEVEMENTS MILESTONES TO ACHIEVE

FY2021 FY2022-2023 FY2023-2024 FY2024-2025 FY2025+

Acquired Lagunas Norte

Gold Mine from Barrick Gold

Corporation in February

2021

Early construction work of

CMOP

Accelerate CMOP

production through

processing higher grades in

the early years

Initiate Zona Sur ProjectDevelopment of PMR

Project

Successfully closed the deal

on 1 June 2021

Regulatory approval for

construction permit for

CMOP

Regulatory approval for the

new EIA and Mine Life

Extension

Exploration projects to

evaluate platform for future

expansion

Started development

projects at the current Heap

Leach (technical upgrade,

re-mining, wobbler and

solution stacking)

CMOP Plant commissioning Leaching Extension

Opportunity Project

Production of 67 Koz En route to increase annual production to 200 Koz+Production of 90 Koz


Major Milestones

CMOP PROJECT TIMELINE

Milestones2021 2022

Q3 Q4 Q1 Q2 Q3 Q4

Update the 2018 CMOP Feasibility

Study

Golder

Associates Inc.

Commence Site Early WorksRelocation of buildings

and early groundworks

Submit Application for the ITM

Permit ITM permit approval

Complete the Basic Engineering Golder Associates Inc.

Complete Detailed Engineering Golder Associates Inc.

Project Construction Project Construction of ~11 months

Commissioning and Ramp Up


Located in the Prolific Center of a +25 Moz Au Endowment

EXPLORATION TARGETS AROUND LAGUNAS NORTE

Lagunas Norte

Trujillo

LimaPERU

PIEDRA GRANDE

YANAHUANCA

LAGUNAS NORTEGENUSA

SUYAY

EL ALTO

ZS PMR

LA BANDERA

LA CAPILLA

RUECAS

PMR SUR

LA ANTENA

MORRENA ESTE

5 km10 km

El Toro1.1 Moz Au

Shahuindo2.3 Moz Au

Santa Rosa0.8 Moz Au

Quiruvilca>260 Moz Ag

La Arena6.3 Moz Au

Tres Cruces1.5 Moz Au

La Virgen0.7 Moz Au

Lagunas Norte 14 Moz Au

Intrusive & Domes

Ts Clastic Sed

And-Dac Tuff

And-Dac Flow

Cretaceous Sed

Chimu Fm

Jurassic Sed

Quaternary

Hydrothermal Bx

Geology Legends

Intrusives

In Operation

Project Legends

Closed

Project

EXPLORATION TARGETS SURROUNDING LAGUNAS NORTE TO PROVIDE EXPLORATION UPSIDE AND EXTEND THE LIFE OF MINE


World-Class Infrastructure

PERU OPERATIONS

LN Pit (LEO+PMR Projects)

Leach Pad 1

Leach Pad 2

500 m

Camps

Heap Leach Process Plant

Mining Rights Area

Airstrip Zona Sur Project


MONGOLIA OPERATIONS

TURNING AROUND UNDERVALUED ASSETSA PROVEN STRATEGY

Outstanding mine which was operated

by Centerra Gold Inc.

Owns 100% of the Boroo Gold Operations

Experienced management team

and employees

Continuous production since

2004

Historical production of

over 1.8 Moz Au


BOROO GOLD MINE

The mines were previously owned and operated by Centerra Gold

(TSE: CG) and Boroo Pte Ltd (then OZD Group) acquired 100% of its

interests in October 2018

Since acquisition, Boroo implemented significant optimization

initiatives and restarted operations in 2019 since its care and

maintenance mode in 2016

Heap Leach operation restarted in March 2019, followed by Boroo

Mill operation restarted with throughput 5,500tpd in July 2020

Fully repaid acquisition price within 18 months since the acquisition

Cash generating projects with an NPV5% of US$284 MM at long-term

price of US$1,500, which excludes any value from the Gatsuurt

project

DEC 2021BOROO 15

Leveraging Mineral Resources through Boroo Mill and Heap Leach Plants

MONGOLIA OPERATIONS

Overview

70 Koz p.a

LOM Target

Production

US$ 710 – 730

LOM Target

AISC

US$ 690 – 710

LOM Target

Cash Cost

593.7 Koz

At Dec 2020

M&I Resources

LOM KPI

MONGOLIA

Boroo Gold Mine


Ulaanbulag

Ulaanbaatar

Boroo

MONGOLIA


Growing to Become a Mid-Tier Metals Producer

MONGOLIA OPERATIONS

ACHIEVEMENTS MILESTONES TO ACHIEVE

FY2018 FY2019-2020 FY2020-2021 FY2021-2022 FY2023-2024

Acquisition in October 2018

from Centerra Gold Inc.

Initiated developments

works at the Boroo Heap

Leach

Pit Extension Project started

at Boroo Gold Mine

Consistent mining rates at

Boroo and Ulaanbulag

deposits

Accelerate open pit

production through mining

higher grades

Re-evaluated Boroo Gold’s

projects to restart the

operation

Successfully restarted

Boroo Heap Leach, poured

first gold dore in March

2019

Re-commissioned Boroo

Mill with daily throughput of

5,500tpd

Further optimization on

mineable reserves

Exploration projects in

Boroo district

Mining started at alluvial

deposit

Mining started at

Ulaanbulag hard rock gold

deposit

10,000m infill and resource

development drilling

Developing high return open-pit gold mine Long-term objective to grow resources & reserves


Outstanding Infrastructure

MONGOLIA OPERATIONS

HL Pad

BorooPit

BorooPit

1,000m

Tailings Storage Facility

Camp

HL Crusher

Mill Process Plant

Heap Leach Process Plant

Mining License Area


KEY OBJECTIVES (2022 TO 2027)

DEC 2021BOROO 18

Focused on Discovering High Quality Ounces at a Low Discovery Cost

UNLOCKING EXPLORATION VALUE

LOW DISCOVERY COST

< $15/oz for indicated resource

BRING TO PRODUCTION QUICKLY

< 3 years from discovery to production

REPLACE DEPLETION & EXTEND MINE LIFE

Add 10 years of mine life to Lagunas Norte

IMPROVE PRODUCTION QUALITY

High grade discoveries to displace low grade production

DISCOVER NEW PROJECTS

Discovered La Capilla project

KEY FACTORS UNDERLYING OUR SUCCESS

Long mineralized volcanic

belt including world-class

Au-Ag deposits

Experienced team with

strong track record

Strong local

community

engagement

Vast

underexplored

area near

Lagunas Norte

inherited from

Barrick Gold


Goal of Discovering Economical Ounces at AISC < $900/oz

STRONG ALIGNMENT WITH CORPORATE OBJECTIVES

3 MINES

Immediate cash flow

FROM PRODUCTION

3 PROJECTS

Near-term growth

FROM PROJECTS

< $15/oz discovery costs

TARGET CRITERIA

+25% after-tax IRR at $1,500/oz

TARGET CRITERIA

+20% ROCE

TARGET CRITERIA

TARGET PORTFOLIO CRITERIA

12 PROPERTIES

Long-term upside

FROM GREENFIELD EXPLORATION

+10 year mine life potential > 100 Koz per year AISC < $900/oz


ENVIRONMENTAL

STEWARDSHIP

We recognize that long-term success of our

business is dependent upon good stewardship

of the environment across the life cycle of our

operations

We closely monitor our footprint on the

environment and seek to continuously

improve our performance

DEC 2021BOROO 20

RESPONSIBLE MINING

EMPLOYEE

HEALTH AND SAFETY

Our approach to health and safety is to adopt

a proactive approach to prevent occupational

injuries and work-related illnesses

Our aim is ZERO accidents or safety incidents.

This is a collective responsibility involving all

our employees, subcontractors and our

communities

COMMUNITY

DEVELOPMENT

Our local communities are at the heart of our

operations’ livelihood and fundamental to our

day-to-day activities

Strong social license to operate in our host

countries and local communities is

fundamental to the long-term viability and

success of our business


RESPONSIBLE MINING

PERU

implemented community

development projects

483Class I

environmental incidents in 2020

0Strong environmental

team and ISO 14001/2015 certified

High Potential Incidents registered

in 2020

0of employees are

Peruvians

99%of purchases were

domestic

95%

MONGOLIA

implemented community

development projects

160Environmental

incidents in 2020

0Strong environmental

team and ISO 14001/2015 certified

Medical Aid registered in 2020

1of employees are

Mongolians

100%of purchases were

domestic

96%


APPENDICES

DEC 2021BOROO 22


EVALUATION

PMR Project

PRODUCTION

Lagunas Norte Open Pit

Boroo Gold Open Pit

Ulaanbulag Open Pit

DEC 2021BOROO 23

WELL DEFINED GROWTH STRATEGY

EXPLORATION

Genusa

La Capilla

Ruecas

La Antena

El Alto

Piedra Grande

Morrenas Este

La Bandera

Yanahuanca

Suyay

PMR Sur

ZS PMR

DEVELOPMENT

CMOP Stockpile

Zona Sur


BOARD OF DIRECTORS

NELSON PIZARRO CONTADOR Vice Chairman

50+ years of experience in the industry in a broad range of

areas, including project administration, management, design

and planning, and corporate governance and oversight.

Held several senior positions, including CEO of Codelco, EVP

and General Manager of Minera Lumina Copper Chile - a

subsidiary of Pan Pacific Copper, Antofagasta Minerals, Los

Bronces mine, Cemento Melón and Lota Schwager.

MICHAEL TAY Independent Director

International professional with a breadth of experience

spanning international capital markets specializing in M&As,

government and diplomacy, business, education, media, arts

and hospitality.

Held senior and advisory positions in Ecosysventures,

Russia-Singapore Business Forum, Asia-Pacific Economic

Cooperation and ASEAN-Singapore.

STEPHEN CROSBY Non-Independent Director

30+ years of experience in the mining industry in both

technical and management roles.

Was extensively involved in advising on M&As and exploring

internal growth opportunities.

Held several senior positions at Freeport-McMoran and

Capstone Mining Corp and was a key person in Freeport-

McMoran’s Morenci mine’s Metcalf mill upgrade project.

JAMES PALMER Independent Director

20+ years of experience in the field of international

investment treaty law, commercial arbitration, public

international law, litigation and mediation.

Currently, he is a Partner at the international law firm, Omnia

Strategy, where he heads the disputes practice and pursues

Omnia’s unique law approach focusing on elegant solutions

to complex problems.

DULGUUN ERDENEBAATAR Non-Independent Director

10+ years of experience in mining sector M&As and financial

consultancy for the mining and commodity businesses.

Led the negotiations of the acquisition of Centerra Gold Inc’s

(TSE: CG) Mongolian business units and most recently with

Barrick Gold Corporation for Boroo’s acquisition of the

Lagunas Norte gold mine in Peru.


EXECUTIVE MANAGEMENT

DULGUUN ERDENEBAATAR

Chief Executive Officer

Appointed Chief Executive Officer of Boroo in October 2018,

following completion of the acquisition of Centerra Gold Inc’s

(TSE: CG) Mongolian Business Units.

Experienced in mining sector M&As and financial

consultancy for the mining and commodity businesses.

TSOLMONBAATAR BORIS

Senior Executive VP, Strategic Matters

Appointed Senior Executive VP, Strategic Matters of Boroo in

February 2021.

Served as Advisor to Boroo, following the acquisition of

Centerra Gold Inc’s (TSE:CG) Mongolian Business Units.

Held senior positions in financial institutions, where he was

advising Mongolia’s largest and most successful companies.

STEPHEN CROSBY

Senior Executive VP, Engineering and Technical Services

Appointed Senior Executive VP, Engineering and Technical

Services of Boroo in February 2021.

Held several senior positions at Freeport-McMoran and

Capstone Mining Corp and was a key person in Freeport-

McMoran’s Morenci mine’s Metcalf mill upgrade project.

MENG YAU YEOH

Chief Financial Officer

Appointed Chief Financial Officer of Boroo Pte Ltd in February

2021.

Obtained his professional accounting qualification from the

Association of Chartered Certified Accountants (United

Kingdom) (“ACCA”) in 1994 and has over 26 years of

experience in auditing, finance and business development.

KHURELBAATAR GANBAT

Executive VP, Investor Relations

Appointed Executive VP, Investor Relations of Boroo in

February 2021.

Involved and was part of the negotiation team of Boroo with

Barrick Gold Corporation.

Held senior positions in international financial institutions,

specializing in M&A and capital markets.

ALTAN-OCHIR ERDENECHULUUN

Executive VP, Business Development

Appointed Executive VP of Business Development of Boroo in

October 2018, following completion of the acquisition of

Centerra Gold Inc’s (TSE: CG) Mongolian Business Units.

Held positions in a financial firm that provided consulting

services to mining and financial institutions in Mongolia.


EXECUTIVE MANAGEMENT

JONATHON CURRANT

Processing Executive

Joined Boroo in November 2019 as a Processing Executive.

20+ years of experience from multiple world-wide mining

companies and projects in Australia, Laos, Turkey,

Kazakhstan, DRC, Indonesia, Burkina Faso and United States

of America.

BILEGTUVSHIN DORJ

Exploration and Growth Manager

Joined Boroo as an Exploration and Growth Manager in

October 2019.

20+ years of experience in the mining industry, including with

Centerra Gold Inc (TSE: CG) and several other gold

companies in Mongolia.

JAIME ZÚÑIGA IDE

General Manager - Lagunas Norte Mine

Appointed General Manager of Minera Boroo Misquichilca in

June 2021 following the acquisition of Lagunas Norte mine

from Barrick Gold.

20+ years of experience in mining operations and engineering

gained at Barrick Gold, Codelco and Hatch, in Chile, Perú,

Dominican Republic, Brazil and USA.


SINGAPORE OFFICE12 Marina View#23-09 Asia Square, Tower 2Singapore 018961

PERU OFFICE12th FloorManuel Olguín Avenue 325Santiago de Surco, Lima, Peru

INVESTOR [email protected]

READ MORE ATwww.boroomc.com.sg

UNLOCKING VALUE FOR

A BETTER TOMORROW

DEC 2021BOROO 27

unlocking value for a better tomorrow

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