New Century Resources : NCZ Quarterly Results Presentation

Underground at the Mt Lyell Copper Mine, under assessment by New Century for restart of copper operations utilising 100% hydroelectric power

April 2022

Disclaimer

Certain statements contained in this presentation constitute forward looking statements. Forward looking information often relate to statements concerning New Century's future outlook and anticipated events or results and, in some cases can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Statements of historical fact are not considered forward looking information.

Forward looking statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in results; the ability to explore; communications with local stakeholders and community and government relations; status of negotiations; weather conditions; Ore Reserves; Mineral Resources; development approach and schedule; the receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; access to capital markets; availability of qualified work force; ability to negotiate, finalise and execute relevant agreements; lack of social opposition to mines or facilities; lack of legal challenges with respect to the property; the timing and amount of future production and ability to meet production, operating and capital cost expenditure targets; timing and ability to produce studies and analysis; economic conditions; the ultimate ability to mine, process and sell the mineral products produced; the timing, exploration, development, operational, financial, budgetary, economic, legal, social and political factors that may influence future events or operating conditions. Forward looking statement are only predictions based on New Century's current expectations and projections of future events. Actual results may vary from such forward-looking information for a variety of reasons.

New Century believes that the forward-looking statements included in this presentation are based on reasonable grounds. However, neither the Company nor any other person makes or gives any representation, assurance or guarantee that the expected outcomes reflected in this announcement will ultimately be achieved.

Throughout this report financial information is presented other than in accordance with accounting standards (non-IFRS financial information). As non-IFRS financial information does not have a standardised meaning prescribed by IFRS, they are not necessarily comparable to similar measures presented by other companies.

The Company publishes the following non-IFRS measures as they provide additional meaningful information to assist management, investors and analysts in understanding the financial results and assessing prospects for future performance. Accordingly, such non-IFRS measures are intended to provide additional information and should not be considered in isolation or in substitution of IFRS financial information. C1 Costs - Cash costs per pound of payable metal produced. It represents the net direct cash cost expressed in United States dollars incurred at each processing stage from mining through to recoverable metal delivered to market including treatment charges for zinc concentrate less net by-product credits and non-cash inventory adjustments. Corporate overheads and royalties are excluded. AISC - All-In Sustaining Costs per pound of payable metal produced. It represents all cash costs expressed in United States dollars incurred at each processing stage from mining through to recoverable metal delivered to market including smelter treatment charges for zinc concentrate less net by-product credits and non-cash inventory adjustments. Corporate overheads and royalties are included. Net Sales Receipts - Net Sales Receipts is calculated as sales receipts including realised quotational period adjustments under concentrate sales contracts less smelter treatment charges imposed under those contracts, freight and penalties. Operating Costs - Operating Costs is calculated as the cost of goods sold plus selling, general and administrative expenses and is expressed on a cash basis. Operating Cash Margin - Operating Cash Margin is calculated as the difference between Net Sales Receipts and Operating costs. Adjusted EBITDA - Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation is based on notional net revenue calculated removing all one-off items including those triggered by the Declaration of Commercial Production and associated accounting practices and assumes all payable metal produced in the specified period is sold in that specified period.

Other than required by law, New Century assumes no obligation to update any forward-looking information to reflect, among other things, new information or future events.

This announcement is approved for release by the Board of New Century.

New Century Resources Overview

Mt Lyell Mine

Copper/Gold

At a Glance
A$281 million
Market Capitalisation (at $2.15/sh)
Enterprise Value (at $2.15/share)	A$158 million
Listing	ASX: NCZ
Cash & Debt (at 31 March 2022) Available Cash & Concentrate Restricted Cash Debt	A$123 million A$44 million None

Board & Executive Management

Rob McDonald

Patrick Walta

Independent Chairman

Managing Director

Mark Chamberlain Tom WIlcox

Kerry Gleeson Non-Executive

Peter Watson Non-Executive

Director

Director

Barry Harris

John Carr

Chief Financial General Counsel & Chief Operating Chief DevelopmentOfficer Company Secretary

Major Shareholders

Sibanye StillwaterDomestic & International

Institutions

Others Shareholders

Highlights

Nick Cernotta Non-Executive

Strong safety culture:

TRIFR 3.6 vs QLD industry average 7.5

Michael Pitt

Director

Australia's largest tailings retreatment and management business

Diversified commodity profile developed: zinc, copper, lead, gold, silver

Officer

Officer

Head of Development

Second project secured, with Mt Lyell option providing ESG-focused growth potential

Century is an Industry Leading ESG Operation

• • Top-15 zinc producer via sustainable metal recovery

• • Australia's largest-ever tailings retreatment and hydraulic mining operation

• • >800,000t of zinc concentrate produced without creating a new mine

  Tailings Ops: Engine Room for Growth

• • March 2022 Quarter: A$40.0m Operational Cashflow1

• • Last 12 Months: A$95.4m Operational Cashflow (A$0.76/share) (average 12mth zinc price US$1.47/lb)

  In-situ Development: Highly Value Accretive

• • Pre-tax NPV of A$212m, IRR of 102% and 2.2-year payback

• • A$709m in revenue and A$287m in pre-tax net cash flow over first 4 years

• • Study assumed highly conservative metal prices

• • Optimisation Study release imminent

Century Mine Life Targeting 2030+

• • Tailings and identified in-situ resources providing a mine life pathway to 2030+

• • Opportunity for development of significant phosphate mineralisation on lease

• • Sustainable mining and long term 'green' metal production

1 See Appendix 3 of March 2022 Quarterly Activities Report (released 28 April 2022) for detailed

definitions of all financial terms and non-IFRS measures

Century Operations: March 2022 Quarter Results

March Quarter Cashflow (A$m) waterfall chart1

March Quarter Performance Summary1

Century Operations

Sustaining, Growth,

Transaction & General Costs

31DecCash&

Concs

Receipts&invoicesSettledQPsChangeininventory valueHedgeSettlementsProductionCostsSG&AandinterestCenturySustaining&

Growth

MtLyellStudiesand

C&M

Transactioncosts&

General

1 See ASX announcement released on 28 April 2022 for further details

Available Cash & Restricted Cash

Quarterly Performance

Overall Financial Performance

Operational Cashflow

EBITDA (sold basis)

Highlights:

Zinc Production

Production PerformanceCost Performance

C1 Costs (payable basis)

AISC Costs (payable basis)

Average Zinc Price (LME)

Mlb
Total	27.3	60.2
payable	22.6	49.8
US$/t	US$/lb
2,015	0.91
2,445	1.11
3,722	1.69
A$ million
40.0
30.7

Mar Quarter 2022
kt	kt	Mlb
118.1	260.2
97.2	214.2
US$/t	US$/lb
1,984	0.90
2,359	1.07
3,244	1.47
A$ million
95.4
94.1

12 months to Mar 2022

•  Significant increase (18%) in total cash and concentrate held to A$123.3m (A$0.94/share)

  30MarCash, Invoices&Concs

  OpenQPs(31Mar)

  RestrictedCash

•  Century operations approaching milestone >A$100m in annual Operational Cashflow, with A$95.4m (A$0.76/share) generated over the last 12 months

•  New Century remains debt-free with strong cashflows and continued cash build from existing operations

•  FY22 guidance reaffirmed: 110,000t - 130,000t zinc metal produced at C1 Costs of US$0.85/lb - US$0.95/lb payable zinc basis