2021 Noosa Mining Conference - Investor Presentation

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Noosa Mining Conference

Investor Presentation

11 November 2021

Transformational ESG Focused Growth Transaction

Unlocking long-term Century operational cashflows & a significant option at Mt Lyell for expansion into 'green' copper production, alongside the strategic backing of Sibanyne-Stillwater via a 19.99% position

Important Information and Disclaimer

IMPORTANT: You must read the following before continuing

onlyThis presentation is dated 11 November 2021 and is issued by New Century Resources Limited ("Company" or "New Century" or "NCZ" of the "Group"). This presentation has been prepared for the Noosa Mining Conference and contains information with respect to:

• the proposed acquisition of the issued capital of Copper Mines of Tasmania Pty Ltd, the owner of the Mt Lyell Copper Mine from Monte Cell BV, a subsidiary of Vedanta Limited ("Transaction");

• the restructuring of the Group's environmental bonding arrangements; and

• an offer of New Shares to eligible New Century shareholders under a non-renounceable entitlement offer ("Entitlement Offer") (the $32.9 million placement completed on 4 November 2021 ("Placement") and Entitlement Offer together, the "Equity Raising").

This presentation is predominately an abridged version of the investor presentation released by the Company to ASX on 27 October 2021. Full details of the proposed transactions, including a comprehensive set of key risk factors, are set out in that presentation and the Company's prospectus lodged with ASX on 28 October 2021. Investors should refer to those documents and the Company's announcements lodged since then, available at https://www2.asx.com.au/markets/company/ncz, before making any investment decisions.

Inf rmation in relation to New Century

This presentation contains summary information about New Century and its subsidiaries and their activities which is current as at the date of this presentation. The information in this presentation is a general background and does not purport to be complete or to provide all inf rmation that an investor should consider when making an investment decision, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It has been prepared by New Century with due care but no representation or warranty, express or implied, is provided in relation to the accuracy or completeness of the information. Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. New Century is not responsible for updating, nor undertakes to update, this presentation. It should be read in conjunction with New Century's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange ("ASX"), which are available at www.asx.com.au.

useLimitation on information in relation to the Transaction

All information in this presentation in relation to the Transaction - including in relation to production, resources and reserves, costs and financial information of the Mt Lyell Copper Mine has been sourced from Vedanta and its subsidiaries. The Company has not independently verified such information and no representation or warranty, expressed or implied, is made as to its fairness, accuracy, correctness, completeness or adequacy. Vedanta has not prepared this presentation and has not authorised its release. Vedanta expressly disclaims any liability in connection with this presentation, and any statement contained in it, to the maximum extent permitted Mining Disclosure Rules, or that quantities reported as "resources" will be converted to reserves under the JORC Code, the New SEC Mining Disclosure Rules or any other reporting regime or that the Company will be able to legally and economically extract them.

Not financial product advice

This presentation is not a financial product or investment advice, a recommendation to acquire New Shares or accounting, legal or tax advice and does not and will not form any part of any contract for the acquisition of New Shares. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction.

New Century is not licensed to provide financial product advice in respect of an investment in shares. Cooling off rights do not apply to the acquisition of New Shares.

personalFinancial data

All dollar values are in Australian dollars ("$"or "A$") unless stated otherwise. The financial information for the Company included in this presentation has been prepared in accordance with Australian Accounting Standards ("AAS"), which complies with International Fin ncial Reporting Standards ("IFRS"). The pro forma financial information included in this presentation is for illustrative purposes and does not purport to be in compliance with Article 11 of Regulation S-X of the rules and regulations of the U.S. Securities and Exch nge Commission. Investors should be aware that financial data in this presentation include "non-IFRS financial information" under ASIC Regulatory Guide 230 Disclosing non-IFRS financial information published by ASIC and also "non-GAAP financial measures" within the meaning of Regulation G under the U.S. Securities Exchange Act of 1934.

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 U ited 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. The non-IFRS financial information do not have a standardised meaning prescribed by AAS and, therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with AAS. Investors are cautioned, therefore, not to place undue reliance on any non- IFRS/non-GAAP financial information and ratios included in this presentation. Financial data for the Mt Lyell Copper Mine contained in this presentation has been derived from financial statements and other financial information made available by Vedanta in connection with the proposed Transaction. Such financial information is unaudited.

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Important Information and Disclaimer (cont.)

only"estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, product target and forecast financials, anticipated construction/expansion c mmencement dates, expected costs or production outputs for each of the Company and the Mt Lyell Copper Mine, the outcome and effects of the proposed Transaction and the future operation of the Company and the Mt Lyell Copper Mine. To the extent that these materials contain forward looking information, the forward looking information is subject to a number of risk factors, including those generally associated with the base metals industry and the ongoing impacts of COVID-19. Any such forward looking statement also inherently involves known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially greater or less than estimated (refer to the 'Key Risks' section of this presentation).

Effect of rounding

A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation.

Past performance

Past performance and pro-forma financial information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of New Century's views on its future financial performance or condition. Investors should note

that past performance of New Century, including the historical trading price of the shares, cannot be relied upon as an indicator of (and provides no guidance as to) future New Century performance, including the future trading price of shares. The historical information i cluded in this presentation is, or is based on, information that has previously been released to the market. For further information, please see past announcements released to the ASX.

Future performance

This presentation contains forward looking statements about the Company and the Mt Lyell Copper Mine. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan",

useInvestment risk

Th	se factors may include, but are not limited to, risks and uncertainties associated with the ongoing impacts of COVID-19, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production
inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the
Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Any such forward looking statements are also based on current assumptions
which may ultimately prove to be materially incorrect. Investors should consider the forward looking statements contained in this presentation in light of those disclosures and not place reliance on such statements, particularly in light of the current economic climate and
the	ignificant volatility, uncertainty and disruption caused by the outbreak of COVID-19. The forward looking statements in this presentation are not guarantees or predictions of future performance. The forward looking statements are based on information available to
New Century as at the date of this presentation. Except as required by law or regulation (including the ASX Listing Rules), New Century undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or
re ults or otherwise. Indications of, and guidance on, future earnings or financial position or performance are also forward looking statements. To the maximum extent permitted by law, New Century and its directors, officers, employees, advisers, agents and
intermediaries disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions.

An investment in shares in New Century is subject to investment and other known and unknown risks, some of which are beyond the control of New Century. New Century does not guarantee any particular rate of return or the performance of New Century, nor does it guarantee the repayment of capital from New Century or any particular tax treatment. Readers should have regard to the risks outlined in the 'Key Risks' section of this presentation.

Not an offer

This presentation is for information purposes only and is not an offer or an invitation to acquire shares or any other financial products in any place in which, or to any person to whom, it would be unlawful to make such an offer or invitation. This presentation is not a prospectus, product disclosure statement or other disclosure document under Australian law (and will not be lodged with ASIC) or any law.

The information in this presentation does not constitute an offer in any jurisdiction in which, or to any person to whom, it would not be lawful to make such an offer. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any New Shares in the United States or to any person acting for the account or benefit of any person in the United States (to the extent such a person is acting for the account or benefit of a person in the United States). The New Shares have not been, and will not be, registered under the U.S. Securities Act of 1933 ("U.S. Securities Act") or the securities laws of any state or other jurisdiction of the United States. The New Shares may not be offered or sold, directly or indirectly, in the United States or to any person that is acting for the account or be efit of a person in the United States unless they have been registered under the U.S. Securities Act or are offered and sold in a transaction exempt from, or not subject to, the registration requirements of the U.S. Securities Act and any other applicable U.S. state securities laws.

The distribution of this presentation (including an electronic copy) outside Australia and New Zealand may be restricted by law. If you come into possession of this presentation, you should observe such restrictions and should seek your own advice on such restrictions. Any non-compliance with these restrictions may contravene applicable securities laws. Refer to the 'International Offer Restrictions' section of this presentation for more information. By accepting this presentation you represent and warrant that you are entitled to receive such presentation in accordance with the above restrictions and agree to be bound by the limitations contained herein.

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Important Information and Disclaimer (cont.)

onlyDisclaimer

Neither Canaccord Genuity (Australia) Limited (ACN 075 071 466) and Jefferies (Australia) Pty Ltd (ACN 623 059 898) (together, the "Joint Lead Managers") nor their affiliates nor any of their, or New Century's, advisers or their respective related bodies corporate, affiliates, directors, officers, partners, employees, agents and associates ("Parties") have authorised , permitted or caused the issue, lodgement , submission, dispatch or provision of this presentation, make or purport to make any statement in this presentation and there is no statement in this presentation which is based on any statement by any of them. The Parties do not make any recommendation as to whether any potential investor should participate in the Equity Raising.

The Parties, to the maximum extent permitted by law, expressly disclaim all responsibility and liabilities (including, without limitation, for negligence or in respect of any expenses, losses, damages or costs incurred) in respect of, and make no representations or warranties (express or implied) as to the currency, accuracy, reliability or completeness of, the information in this presentation, and with regard to the Joint Lead Managers and each of their advisers, related bodies corporate, affiliates, directors, officers, partners, employees, agents and associates, take no responsibility for, any part of this presentation or the Equity Raising. No Party guarantees the repayment of capital or any particular rate of income or capital return on an investment in New Century. Readers agree, to the maximum extent permitted by law, that they will not seek to sue or hold the Parties liable in any respect in connection with this presentation or the Equity Raising. Statements in this presentation are made only as at the date of this presentation. The information in this presentation remains subject to change without notice. New Century reserves the right to withdraw the Equity Raising or vary the timetable for the Equity Raising without notice.

The Parties do not accept any fiduciary obligations to or relationship with any investor or potential investor in connection with the Equity Raising or otherwise. Determination of eligibility of investors for the purposes of the Equity Raising is determined by reference to a number of matters, including legal requirements and the discretion of New Century and the Joint Lead Managers.

New Century and the Joint Lead Managers disclaim any liability in respect of the exercise or otherwise of that discretion, to the maxim um extent permitted by law.

Disclosure

useThe Joint Lead Managers, together with their affiliates, are full service financial institutions and commercial banks engaged in various activities, which may include trading, financing, financial advisory, investment management, investment banking, investment research,

principal investment, hedging, market making, margin lending, brokerage, financing and financial advisory services and other financial and non financial activities and services including for which they have received or may receive customary fees and expenses. The

Joint Lead Managers and/or their affiliates have performed, and may perform, other financial or advisory services for New Century, and/ or may have other interests in or relationships with New Century, and its related entities for which they have received or may receive customary fees and expenses.

In the ordinary course of their various business activities, the Joint Lead Managers and their affiliates may purchase, sell or hold a broad array of investments and actively trade or effect transactions in equity, debt and other securities, derivatives, loans, commodities,

currencies, credit default swaps and/or other financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to assets, securities and/ or instruments of New Century, its related entities

and/or persons and entities with relationships with New Century and/or its related entities. The Joint Lead Managers and/or their affiliates, or their respective officers, employees, consultants or agents may, from time to time, have long or short positions in, buy or sell (on a principal basis or otherwise), and may act as market makers in, the securities or derivatives, or serve as a director of any entities mentioned herein.

None of the Joint Lead Managers nor any of their related bodies corporate and affiliates, nor any of their respective directors, officers, partners, employees, representatives or agents make any recommendations as to whether you or your related parties should

participate in the Equity Raising nor do they make any representations or warranties (expressed or implied) to you (or other statements upon which you may rely) concerning the Equity Raising or any such information. The engagement of the Joint Lead Managers by New Century is not intended to and does not create any agency, custodial, fiduciary or other legal relationship between the Joint Lead Managers and any shareholder or other investor.

Investors acknowledge and agree that determination of eligibility of investors for the purposes of the Equity Raising is determined by reference to a number of matters, including legal and regulatory requirements, logistical and registry constraints and the discretion of

New Century and the Joint Lead Managers. Each of New Century and the Joint Lead Managers and each of their respective affiliates disclaim any duty or liability (including for negligence) in respect of that determination and the exercise or otherwise of that discretion, personalto the maximum extent permitted by law.

Acceptance

By ttending an investor presentation or briefing, or accepting, accessing or reviewing this presentation you acknowledge and agree to the terms set out in the important notes & disclaimer.

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Executive Summary

Transformational initiative enabling New Century to accelerate its growth as a world-leading tailings management and economic rehabilitation company

only			Century Operations Delivering Long Life, Sustainable Cash Flows & Financial Flexibility for Growth
			Current operations are the 'engine room' for Company growth & Century Mine life extension to 2030+
Karumba Port		Record September quarter (A$31.5m EBITDA), strong zinc recoveries (October average 51%) and long-term hedging at historically
	high zinc prices. Silver King & East Fault Block developments to provide increased metal output & life extension.
			Environmental Bond Restructure & Debt Retirement - cash flexibility for growth & distributions
use	Century Mine
		Replacement of MMG's environmental bond (inc. removal of EBITDA lock-box mechanism) with traditional environmental bond and
Zinc/Lead/Silver			full repayment of the current corporate loan with Värde, unlocking immediate flexibility for cash generated by Century operations
		Accelerating ESG Focused Growth via 'Century Style' Acquisitions & Monetisation of Tailings Management IP
			Mt Lyell Acquisition - one of the largest near-term production 'green' copper assets on the ASX
			Two-year option for acquisition of Mt Lyell, targeting near term restart of long life sustainable (hydroelectric power) green copper
				supply via existing significant resource base (1.1Mt copper & 0.94Moz gold), tailings reprocessing & water treatment
				Strategic Partnership with Sibanye-Stillwater - building a global leader in tailings management
				Sibanye-Stillwater to invest in NCZ for a 19.99% fully escrowed equity position, with investment to accelerate growth through the
Head Office			acquisition and development of economic rehabilitation projects and building a global leading tailings management service
Melbourne
				Sibanye-Stillwater investment part of equity raise for growth & balance sheet strength
Mt Lyell Mine			Raising a minimum A$105m via an Unconditional Placement (A$32.9m - completed), underwritten Entitlement Offer (A$46.9m -
Copper/Gold			underway) & Conditional Placement (size dependent on rights take-up) to Sibanye-Stillwater for a 19.99% position in New Century
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	Note: This presentation is predominately an abridged version of the investor presentation released by the Company to ASX on 27 October 2021. Full details of the proposed

transactions, including a comprehensive set of key risk factors, are set out in that presentation and the Company's prospectus lodged with ASX on 28 October 2021. Investors should	| 5
refer to those documents and the Company's announcements lodged since then, available at https://www2.asx.com.au/markets/company/ncz, before making any investment decisions.