KALIA : Investor Update Presentation

Exploring in "The Pacific Ring of Fire" for world class

Copper/Gold porphyry systems

Kalia Limited (ASX: KLH)

20th March 2019

www.kaliagroup.com

Forward Looking Statements

This document contains forward looking statements. Forward looking statements are not based on historical facts, but are based on Kalia Limited's ("Kalia") current expectations of future results or events. These forward looking statements are subject to risks, uncertainties and assumptions which could cause actual results or events to differ materially from the expectations described in such forward looking statements. While Kalia believes that the expectations reflected in the forward looking statements in this document are reasonable, no assurance can be given that such expectations will prove to be correct. Matters as yet not known to Kalia Limited or not currently considered material by Kalia Limited, may cause actual results or events to be materially different from those expressed, implied or projected in any forward looking statements. Any forward looking statement contained in this document is qualified by this cautionary statement.

Disclaimer

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Kalia Limited, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.

The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance.

Previous Exploration by Other Explorers

This presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this presentation. The Other Explorers reports cited include: the Geological Survey of Papua New Guinea. and The Federal Institute for Geosciences, Federal Republic of Germany Kalia does not vouch for the accuracy of these reports. Kalia has taken the decision to include this information as we assess it to be of relevance to shareholders and investors.

Competent Persons' Statement

The information in this presentation that relates to Exploration Results is based on information reviewed by Mr Peter Batten who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and is an Executive Director, a full time employee and shareholder of Kalia. Mr Batten has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Batten consents to the inclusion of the information in the form and context in which it appears.

Information in this announcement that relates to Geophysics and Geophysical data is based on information reviewed by Dr. Amanda Buckingham who is a consultant geophysicist and principal of Fathom Geophysics. Dr. Buckingham was contracted by Kalia Limited and gives consent to the inclusion of the information in the form and context in which it appears.

Amanda Buckingham PhD has been involved in mineral exploration for 25 years. Amanda co-founded Fathom Geophysics in 2007, an award winning and industry leading geophysical consulting group that has developed worlds-best technology for interpretation under cover. Tools developed include structure detection and 3D geochemical footprint modelling of specific deposit styles as well as many other technologies; significantly increasing the chances of discovery under cover.

Dr Buckingham's early career involved work as a geoscientist and project manager at majors such as Rio Tinto as well as listed juniors in both Canada and Australia and several years consulting at SRK. Amanda has extensive exploration experience in North and Sub-Saharan Africa, Canada, US, Mexico, South America, South East Asia, Russia and several countries in the former Soviet Union.

Amanda's PhD at the University of Western Australia involved the design of enhancement filters and edge-detection programs for potential field data. These algorithms have made possible significant advances in methodology for the semi-automated interpretation of data.

Dr Buckingham is currently a research fellow at the University of Western Australia.

Bougainville on the "Pacific Ring of Fire"

Within the PNG section of the

Pacific Rim only Bougainville remains with the vast majority of the accessible land mass not having been subjected to extensive and modern exploration techniques. Recent work, Kalia and SRMI, is the first exploration undertaken on Bougainville in the past 3 decades.

SolGold's recently (Nov. 2018) released mineral resource estimate #2 for the Alpala deposit in Ecuador.

Indicated + Inferred Resource = 2.95 Bt @ 0.52% Cu eq (15.4 Mt Cu eq) containing 10.9 Mt Cu and 23.2 Moz Au at 0.2% Cu eq cut-off, 79% of which is in the Indicated category (by metal content).

Taken fromwww.solgold.com.au

Bougainville Mining Environment

• • Autonomous Regional Government within PNG

• • Supportive environment for exploration and mining

• • Own Mining Act of 2015

• • Bougainville moratorium on mining in place since 1980's

• • Kalia has been active in Bougainville since 2016 in expectation of change and have been engaged in:

  • • Landowner discussions

  • • Awareness programmes

  • • Relationship development with suppliers, officials, interest groups, churches

• • The Moratorium partially lifted for 3 specific areas in May 2017

• • 4 undisputed valid licences in operation in the 3 areas - Kalia has a 75% interest in two (EL03 and EL04) of them covering 1,704 km2

• • Kalia is focused on the highly prospective area in the North of the island with supportive and engaged landowner base