Danakali's Unique Colluli Development: A Global Game Changer - Investor Presentation

February 2021

Danakali's Unique Colluli Development:

A Global Game Changer

Low cost​

Premium product​

Development underway

ASX: DNK | LSE: DNK | ADR: DNKLY

Various European OTC: SO3 (e.g. FRA: SO3 | MUN: SO3)

Forward Looking Statements Disclaimer

Important Forward Looking Statement Disclaimer

This presentation is not subject to disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act. This presentation may contain certain forward looking statements and projections regarding estimated, resources and reserves: planned production and operating cost profiles; planned capital requirements ; and planned strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of DNK. The forward-looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. DNK does not make any representation and provides no

warranties concerning the accuracy of the projections, and disclaims any obligations to update or revise any forward-looking statements/projection based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this presentation has been prepared in good faith, neither DNK nor any of its directors, officers, agents, employees, or advisors given any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation.

Danakali Investment Highlights​

Colluli is massive

• • The worlds largest and only solid salt, near surface Sulphate of Potash (SOP) resource

• • Unrivalled reserves of 1.1Bt of high-grade solid salt Ore delivering approximately 200 years of production

Superior economics and advanced funding

• • Lowest quartile operating costs, industry leading capital intensity and production of premium product

• • First two modules of SOP (each 472ktpa) delivers robust returns for Danakali: NPV 10 of US$439m, IRR of 31%

• • US$221m of project financing has already been secured through senior debt and equity

First zero carbon SOP production potential

• • Colluli is planning to become the worlds first carbon neutral producer of SOP

• • Colluli has unrivalled access to one of the worlds greatest geothermal energy systems, the Great African rift

• • Natural climate conditions at Colluli are ideal for solar and wind energy

Humanitarian Impact

• • United Nations Development Program (UNDP) indicates Colluli has a significant long term positive Humanitarian impact

• • Key benefits include job creation, economic development and by increasing food security in the region

Proximal to established and growing SOP markets

• • Colluli is positioned near established and developing SOP markets of Europe, Middle East, SE Asia and Africa

• • 10 year take or pay offtake agreement seeks to leverage these markets, especially one of the fastest growing - AfricaClosest SOP Project to port with potential to improve

• • No other SOP project in the world is closer to available port infrastructure with port capacity

• • Anfile Bay port development will create an unrivalled global logistics advantage being only 87km from siteMulticommodity potential can diversify revenue

• • Colluli has the potential to readily expand to become a multicommodity fertilizer producer

• • Large volumes of SOP waste products can be commercialised once Anfile Bay is developedRight team to deliver the Project

• • Strong Government relationships

• • Expertise in fertilizer market, project development and potash operational management

High quality Board and Executive team

Strong, energetic and accomplished Executive team supported by experienced, multi-disciplinary Board

Executive team

Danakali Board

Niels Wage

Chief Executive Officer

Significant potash, shipping, logistics, trading and commodity experience including at BHP

Stuart Tarrant

Chief Financial Officer

Extensive mining industry exposure, with focus on debt finance and corporate governance. Previously a finance manager at BHP

Tony Harrington Project Director

Over 30 years' experience across a range of mining projects in Africa and globally

Dr Rod McEachern Chief Operating Officer Significant most recent experience with Nutrien Ltd related to potash mining, production, process engineering, logistics, safety and environmental compliance.

Seamus Cornelius Non-Executive Chairman Corporate lawyer with over 20 years' experience in the resource sector

Bob Connochie Non-Executive Director Highly experienced potash and mining specialist with over 40 years'

industry experience

John Fitzgerald Non-Executive Director

Chartered Accountant with over 30 years' finance and corporate advisory experience in the resource sector

Zhang Jing Non-Executive Director

Over 15 years of international trading and business development experience in China

Samaila D. Zubairu Non-Executive Director

President and Chief Executive Officer Africa Finance Corporation (AFC). Extensive project finance experience in green-field project finance, acquisitions and equity capital market transactionsTaiwo Adeniji Non-Executive Director Senior Director for Investment Operations & Execution, Africa Finance Corporation (AFC). Extensive in infrastructure investments and financial sector development

Neil Gregson Non-Executive Director Mining/finance industry professional with extensive investor market, finance, portfolio management and leadership experience. Senior roles within Credit Suisse and most recently at JPM Global Natural Resources Fund.