Company PresentationOctober 2017

Construction Underway atPoplar Grove Mine

ABN 44 155 933 010

2

The Next Major

Illinois Basin Coal Producer

✓ Construction “on-track” at the first mine (Poplar Grove)

✓ ~90% of Capex “locked-in” under fixed price contracts

✓ 45% of 1st 5 years of production “pre-sold” under fixed prices

✓ Poplar Grove EBITDA1: US$67m; Combined EBITDA2: US$167m

✓ Short timeline to first coal production at Poplar Grove

✓ Permitted pathway to 6.6 Mtpa (Poplar Grove + Cypress)

✓ Rebound in US thermal coal now underway

✓ “Pro-growth and “pro-coal” US regulatory tailwinds

✓ Upcoming listing on major US stock exchange

✓ Building a “safety first” culture

Paringa Highlights:

Notes: (1) Relates to average annual EBITDA over the steady state production, refer to the ASX

announcement dated 28 March 2017 for all results from the Final Bankable Feasibility Study (“Final BFS”).

(2) Note, combined EBITDA relates to average annual EBITDA from both the Poplar Grove and Cypress

Mines during steady state production, refer to Final BFS announcement.

3

US$45 m US$ 67m

US$ 163m

US$ 310m

US$ 655m

Poplar GroveCapex

Poplar GroveEBITDA

CombinedEBITDA

Poplar GroveNPV

CombinedNPV

Permitted,Low Cost

Pathway to High Returns

on Capital High Return on Capital (Final BFS)1

Low Capex Intensity (Final BFS)1

0 Mtpa

2 Mtpa

4 Mtpa

6 Mtpa

8 Mtpa

2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044

Cypress Mine

Poplar Grove

Permitted Production Profile (Final BFS)1

Notes: (1) Refer to the ASX announcement dated 28 March 2017 for all results from the Final Bankable

Feasibility Study (“Final BFS”). Note, capex figure has increased to US$48.5 million following execution of

fixed price contracts totaling almost 90% of the capex total. Capex intensity = Capex + Leased equipment /

Production)

4

Construction Underway atPoplar Grove

Mine(Construction began in August 2017 and

is expected to finish by August 2018)

7 Aug 17

16 Aug 17

21 Sep 17

5

Poplar Grove Mine

has been SignificantlyDe-Risked

Location of Poplar Grove and Cypress Mines and Access to the Ohio River Market

✓ Permitted and Financed ✓ Established local mining industry

✓ Simple, low cost mine construction ✓ Simple room-and-pillar operations

✓ Capex: ~90% Fixed Price Contracts ✓ Simple processing techniques

✓ Production: 45% of 1st 5yrs pre-sold ✓ Low cost barge transportation

✓ US$205 million sales contract ✓ First world jurisdiction

Poplar Grove Mine Significantly De-Risked:

6

~90% of total Capex now underFixed Price Contracts

(Revised total Capex of US$48.5 millionfalling within funded contingency)

Poplar Grove Mine Plan View

“Best in Basin” Construction Contractors Secured

✓ Site Development: Pollard & Sons ✓ Shafts: North American Drilling

✓ Slope: Frontier-Kemper ✓ Plant: Fricke Mgt & Contracting

7

Simple, well understood Mine Operations

& Processing Techniques

(Simple room-and-pillar underground mining operationsand simple coal processing techniques similar to

adjacent Alliance operations)

Slope Entry

And Site Office

Coal Prep.

Plant and

Stockpile

Green River

Barge Load-Out

Facility

8

Permitted, Competitive,

Low Cost Illinois Basin

Supply(Poplar Grove and Cypress Mines sit comfortably

at the beginning of the 2nd quartile of the Illinois Basin cost curve)

0

10

20

30

40

50

60

US$

pe

r To

n

Illinois Basin “Mine Gate” Cost Curve1

Factors Supporting Paringa’s Low Cost Structure

✓ Paringa coal seams are +90% “in-seam” yield (i.e. almost pure coal)

✓ Enhanced plant yield and productivity due to high coal quality

✓ Simple, low cost, room-and-pillar mine operations

✓ Simple, well understood processing techniques

✓ Highly skilled, non-union workforce in a mining friendly jurisdiction

✓ Access to low cost power and utilities

Illinois Basin Production 50 mt 100 mt

Cypress Mine

Poplar Grove

Notes: (1) Source: Wood Mackenzie. Refers to cost curve for forecast 2017 production totaling 98 mt

plus the costs for an additional 6.6 million tons from Paringa’s Poplar Grove and Cypress Mines

9

$-

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

Paringa:Poplar Grove

Foresight:Sugar Camp

Alliance:Dotiki

Peabody:Sommerville

CAPP NAPP PRB Natgas($3.00)

Natgas($3.50)

Natgas($4.00)

US$

pe

r m

mb

tu

LowDelivered

Cost to initial Target Ohio River Market

(Paringa’s low cost, high quality coal and its significant transportation advantages results in Poplar Grove and

Cypress Mines being among the lowest delivered cost coal to the Ohio River Market in the US)

Delivered Cost to LG&E’s Trimble County Plant1 (natgas equivalent prices)

Factors Supporting Paringa’s Low Cost Structure:

✓ Prime location in the heart of the Eastern US power market

✓ Low mine costs from favorable geology and high quality coal

✓ High heating content and low chlorine coal quality

✓ Low transportation costs to market

The Chart above compares the delivered cost at LG&E’s Trimble County plant on the Ohio

Rvier for Paringa’s two mines (i.e. Opex FOB Barge plus barge transportation costs) to the

parts of the Illinois Basin, other US coal basins and natural gas based on Henry Hub

Natgas prices at US$3.00, US$3.50 and US$4.00. Source: Wood Mackenzie; natural gas

costs account for weighted average heatrate efficiencies between a natural gas combined

cycle (7,400 Btu/KWhr) vs coal-fired unit (10,500 Btu/KWhr)

Proxies for:

Notes: (1) Refer to Slide 10 for location of Trimble County power plant

Poplar

Grove

Illinois

Longwall

West Ken.

Non-River

Mine

Indiana

Surface

Mine

Illinois Basin Other US Coal Basins Delivered Natgas Markets

10

45% of First

5 Years of Production

Sold at Fixed Prices

(Production from Poplar Grove during First 5 years totals 10.75 million tons)

Contracted Production Fixed Contract Price (FOB Barge; 11,200 btu/lb)

0 - 750,000 tons US$40.50 per ton

750,001 – 1,750,000 US$41.50

1,750,001 – 2,750,000 US$43.00

2,750,001 – 3,750,000 US$44.25

3,750,001 – 4,750,000 US$45.75

Total Sales Contract Value US$205 million

Summary of Key LG&E Contract Terms (2018 to 2022)

Ohio River Market and LG&E’s 3 River Power Plants (including Trimble County)

11

Initially Targeting the

Ohio River & South

East Markets(Total annual demand for Illinois Basin coal from

both markets is over 70 million tons)

Ohio River & South East Markets for Illinois Basin Coal

Tier-1 Customer Base

12

98 Mtpa106 Mtpa

125 Mtpa

109 Mtpa

116 Mtpa

134 Mtpa

70

80

90

100

110

120

130

140

2017 2025 2030

Mill

ion

To

ns

Illinois BasinRemains a

Growth Market

(Under a no carbon regulation environment, Wood Mackenzie forecasts Illinois Basin

Production to grow from 98 Mtpa in 2017 to 125 Mtpa by 2030)

✓ Lowest delivered cost to Eastern US power markets

✓ Highly productive, low cost mine operations

✓ Access to low-cost transportation infrastructure

✓ Highly skilled, non-union workforce

✓ Continues to displace higher delivered cost US Coal Basins (i.e CAPP)

✓ Improving regulatory outlook

✓ Potential change in weather patterns (i.e. Il Nino to La Nina)

Illinois Basin Demand1 (2017 to 2030)

Base Case

High Natural Gas Price

Factors Facilitating Illinois Basin Growth

Notes: (1) Source: Wood Mackenzie – under no carbon regulations and 1H2017 assumptions

13

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

5.50

6.00

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

US$

pe

r m

mb

tu

Recovery inUS Thermal

Coal Continues as Coal

Stockpiles Deplete

(US thermal coal stockpiles continue to deplete from their historical highs, with US natgas increasing from its historical lows, providing an improving environment for

US domestic coal prices)

US Thermal Coal Stockpiles Depleting from Historical Highs

100

120

140

160

180

200

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Mill

ion

to

ns

EIA Forecast

(12 months)EIA Actual

(2009 to Q217)

Future Natural

Gas Prices

Actual US

Natural Gas

Prices

US Natural Gas Prices Set to Continue to Rebound from Historical Lows

?

Notes: (1) Source: EIA

Average

Average

14

Positive Outlook for

US Natural Gas Prices as

LNG ExportsRamps-up

(LNG Exports are set to rival and could surpass weatheras a core driver of electricity and natural gas prices

in the United States in the next few years)

US Liquified Natural Gas (LNG) Export Capacity (2016 to 2019)

✓ US produces 72.5 Bcf/d of natural gas and is now a net exporter

✓ LNG export capacity to increase from 1.4 Bcf/d to 9.5 Bcf/d by 2019

✓ Declining pipeline natgas imports from Canada

✓ Near doubling of export pipeline capacity (14 Bcf/d) to Mexico by 2019

✓ Mexico installing +50 GW in new energy generation, mostly powered by natgas

Unprecedented LNG Export Capacity in the US

15

Export Markets

Opening upfor Illinois Basin Coal

(Sustained high European thermal coal prices will provide athird target market for Illinois Basin Producers, particularly

the higher chlorine longwall producers who historically have relied on the European export market from to the

US Gulf of Mexico)

Illustrative Illinois Basin Netback for Export Sales to Europe (ARA)

Notes: (1) Source: Bloomberg

European Thermal Coal Price1 (API2) vs US Thermal Coal Exports

0

10

20

30

40

50

60

0

20

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017

US

The

rmal

Co

al E

xpo

rts

(mill

ion

to

ns)

Euro

pe

an T

he

rmal

Co

al p

rice

(U

S$/t

on

ne

)

European Thermal Coal Price (LHS)

US Thermal Coal Exports (RHS)

Current European Coal Price (API2) US$90 per metric ton (MT)

Sulfur Discount (range $5 to $20) - US$15 per MT

Freight from US Gulf to ARA - US$10 per MT

US Gulf (FOB) US$65 per MT

Convert to Short Tons US$59 per ton

Handling at US Gulf Port - US$4 per ton

Barge Transportation to Illinois Basin - US$16 per ton

Effective Illinois Basin Price (FOB) US$39 per ton

16

Growing Support fromUS Financial

& GovernmentInstitutions

+40 US Based attendees at September Mine Site Visit

Presentation to the Governor of Kentucky

17

RapidlyImproving

“Pro-growth& “Pro-coal”

US RegulatoryEnvironment

✓

Clean Power Plan (CPP)

Following President Trump’s executive order for Energy Independence, Head of theEnvironment Protection Authority, Scott Pruitt, announced full repeal of the CPP

✓

Grid Resiliency Pricing Rule Proposal

Could essentially prevent coal and nuclear plants from closing even if they’re noteconomic to run and could guarantee coal plant owners a rate of return based ontheir costs rather than prices set by wholesale markets

✓

Stream Protection Rule

Congress passed the Congressional Review Act, voiding the EPA’s Stream ProtectionRule, protecting up to 1/3rd of US coal production

✓

Reduction in Corporate Tax Rate

Trump administration initiated action to reduce the Corporate Tax Rate from 35% to20%

Current “State of Play” for Federal Regulations

Current “State of Play” for State Regulations

✓

Illinois – Assistance to Install Scrubbers

If enacted, Illinois coal power plants that have been incentivized by the state ofIllinois to install scrubbers, would then base their coal buying decisions oneconomics, giving preference to the lowest delivered cost Illinois coal over the lowersulfur PRB coal.

✓

Kentucky – Potential to Give Preference to Burn Kentucky Coal

Commonwealth of Kentucky may be now assessing whether to introduce incentivesfor Kentucky utilities (who are scrubbed) to burn thermal coal sourced fromKentucky.

18

PNL:Significant

Value Creation not Currently Reflected in Share Price

A$0.00

A$0.10

A$0.20

A$0.30

A$0.40

A$0.50

A$0.60

A$0.70

2013 2014 2015 2016 2017

Acquired Buck

Creek Complex

Start technical

Studies at Cypress

Mine

Complete technical

Studies at Cypress

Mine

Start technical

Studies at Poplar

Grove Mine

Complete technical

Studies at Poplar

Grove Mine

Complete

Permitting at

Cypress Mine

Start Construction at

Poplar Grove Mine

Complete

Permitting at

Poplar Grove Mine

Complete

Financing at

Poplar Grove Mine

Discovery of

Second Coal

Seam at Poplar

Grove Mine

US$205 Million

Sales Contract

with LG&E

✓ Completed 6 technical studies at Poplar Grove and Cypress Mines

✓ Fully permitted two coal mines in Kentucky

✓ Maiden US$205 million sales contract with investment grade utility

✓ Financed Poplar Grove and started construction

✓ Cypress Mine remains “construction ready”

Paringa Share Price and Milestones

Notes:(1) Source: Bloomberg

19

Short Timeline

to First Coalwith Value

Add Catalysts

✓ Complete permitting at Poplar Grove Mine (2.8 Mtpa)

✓ Fully finance the Poplar Grove Mine

✓ Start mine site development at Poplar Grove

✓ Final mine engineering optimization at Poplar Grove

Q4 17 Start listing process on major US stock exchange

Q4 17 Pre-listing US investor roadshow campaign

Q4 17 Start construction of the Coal Handling and Preparation Plant

Q4 17 Start construction of the Barge Load-out Facility

Q1 18 List on major US stock exchange and begin trading

1H 18 Potential additional coal sales contracts

Q3 18 Complete construction of the Poplar Grove mine

Q3 18 First coal production

2019 Start construction of the permitted Cypress Mine (3.8 Mtpa)

Paringa Timeline:

20

Key Corporate Statistics

Shares on Issue 317 million

Options 15 million

Performance Rights 16 million

Market Capitalisation (9 Oct 17) US$ 95 million

Cash (30 Jun 17) US$ 35 million

Undrawn Debt Facility (Macquarie) US$20 million

JORC Compliant Resource1 332 million tons

JORC Compliant Recoverable Reserves2 136 million tons

ASX Code PNL

Notes:(1) JORC Compliant Resource totaling 332.2 million tons is comprised of 103.6 million tons in the Measured category and 228.6 million tons Indicated category.(2) JORC Compliant Recoverable Reserves totaling 135.7 million tons is comprised of 43.5 million tons in the Proven category and92.3 in the Probable Category

Paringa Shareholder Mix (%)

Directors, Management &

Associates19%

Australian Super9%

Silver Lake Resources

7%

Institutional & Retail Investors

65%

Capital Structure

21

Building a Winning Team▪ Formerly Chief Commercial Officer of Bowie Resource Partners, LLC, the largest producer of Western bituminous coal in the United

States, where he was responsible for corporate strategy, business development, sales, marketing, and logistics. Board member of the National Mining Association.

▪ Bachelor of Arts degree, Cum Laude, from Harvard College and a Master of Business Administration degree with Distinction fromHarvard Business School.

▪ Mining Engineer with over 30 years of experience in developing coal resources projects covering the entire coal development chain and former Vice President Mergers and Acquisitions and Business Development at Alpha Natural Resources, one of the USA’s largest coal producers.

▪ Mining Engineer with over 13 years’ experience working in the US coal industry managing continuous miner coal operations for Arch Coal and other major US coal producers.

▪ MBA from the University of Pittsburgh and Bachelor of Mining Engineering.

▪ Former Vice President of Sales and Marketing for Armstrong Energy, Inc, the second-largest thermal coal producer based in Western Kentucky.

▪ Served on active duty with the U.S. Air Force for almost 13 years and subsequently continued his service in the Air National Guard, retiring after 27 years at the rank of Lieutenant Colonel.

▪ Bachelor of Science Degree in Engineering and Legal Studies in 1995 from the United States Air Force Academy and received an MBAwith honors from St. Mary's University in 2004.

▪ Over 15 years experience in Resources Project Development, Investment Banking and Investment Advisory.

▪ Co-founder of Piedmont Lithium Ltd (ASX:PLL | NASDAQ: PLLLY).

▪ Charterholder of the CFA Institute and member of Institute of Chartered Accountants.

▪ Engineer with 8+ years of experience in the mining industry.

▪ Senior Mine Engineer for the largest room and pillar operation in the Illinois basin (Alliance’s River View mine) mining multiple seams simultaneously with an annual clean production in excess of 8 million tons.

▪ Engineer with 10+ years experience in the mining industry.

▪ CHPP Manager for a 2,100 ton / hour preparation plant which washed multiple feeds from surface and underground operations to serve metallurgical, thermal and PCI markets.

David GayPresident

Nathan AinsworthVP, Business Development

Adam AndersonSenior VP, Coal Sales &

Marketing

Rick KimCOO

Grant QuashaCEO

Brent HawleyManager of CHPP &

Surface Facilities

Will ScatesSenior Mine Engineer

22

World-Class Board

Ian MiddlemasChairman

Jonathan HjelteDirector

David GayExecutive Director

Tom ToddDirector

▪ Highly respected resource executive with extensive finance, commercial and capital markets experience

▪ Current Chairman of Berkeley Energy Limited, Prairie Mining Ltd & former Chairman of Mantra Resources Limited & Papillon Resources Ltd

▪ Mining Engineer with over 30 years of experience in developing coal resources projects covering the entire coal development chain

▪ Business Unit President at Pittston Coal Group (20 years experience)

▪ Vice President Mergers and Acquisitions and Business Development at Alpha Natural Resources, one of the USA’s largest coal producers

▪ Chief Financial Officer of Aston Resources from 2009 to November 2011 and prior to this role, was Chief Financial Officer of Custom Mining, where his experience included project acquisition and funding of project development for the Middlemount project to the sale of the company to Macarthur Coal

▪ Graduate of Imperial College, Bachelor of Physics with first class Honours

▪ Highly respected New York-based fund manager and has extensive experience in investment and portfolio management specializing inthe mining, utilities, and energy sectors. Mr Hjelte is a portfolio Manager at Citadel LLC

▪ Graduated Summa Cum Laude from Lehigh University where he received an M.S. in Statistics and a B.S. in the Integrated Business and Engineering honors program. He also holds the Chartered Financial Analyst (CFA) designation

Todd HanniganDeputy Chairman

▪ Formerly the CEO of Aston Resources Ltd and was instrumental in developing the company into one of the largest publicly listed coal companies in Australia before merging with Whitehaven Resources Limited in a deal valued at over $5 billion

▪ Graduate of the University of Queensland, holds a Bachelor of Engineering (Mining) with Honours, holds a Queensland first class mine manager's certificate and has a MBA from INSEAD

Rick McCormackDirector

▪ Previously CEO of DRA Taggart (and Taggart Global), global leaders in coal processing plants, having constructed processing capacity in excess of 250 million tons per annum since 2000, including in the Illinois Basin

▪ Registered Professional Engineer and has Bachelors of Science degree in Mechanical Engineering from West Virginia University

▪ Formerly Chief Commercial Officer of Bowie Resource Partners, LLC, the largest producer of Western bituminous coal in the UnitedStates, where he was responsible for corporate strategy, business development, sales, marketing, and logistics. NMA Board member.

▪ Bachelor of Arts degree, Cum Laude, from Harvard College and a Master of Business Administration degree with Distinction fromHarvard Business School.

Grant QuashaManaging Director

23

Last, largeContiguous

Block of HighQuality Coal in Western Kentucky

Buck Creek Complex and Surrounding Historical and Current Operations

Since 2008, the Group has secured a total of +300 individual

leases, comprising of over 510 individual property tracts and

covering an area totaling almost 40,000 acres

Paringa’s permitted Poplar Grove and Cypress Mines are the

last large contiguous blocks of undeveloped low capex, high

margin coal in western Kentucky

24

Annual Production1 6.6 Mtpa

Initial Total Capital2 US$45 million

Average EBITDA3 US$163 million

Net Present Value4 US$655 million

Notes:

(1) Nameplate production including both the Poplar Grove and Cypress Mines(2) Represents total initial capital of the Poplar Grove Mine, figure has subsequently increased to

US$48.5 million after locking in 90% of the capital in fixed price contracts(3) Based on steady state production, inclusive of leased equipment costs, royalties and severance taxes(4) After-tax, ungeared, discount rate of 8%

Combined BFS Results

Annual Production (Steady State) 2.8 Mtpa 3.8 Mtpa

Total Saleable Coal 67 million tons 67 million tons

Mine Life 25 years 18 years

Product Heating Content 11,200 Btu/lb 11,200 Btu/lb

Average Product Yield 76% 76.7%

Underground Mining Method Room-and-Pillar Room-and-Pillar

Construction Start Date Mid-2017 2019

First Coal Production Date Mid-2018 2021

Ramp-up Period to Full Production 12 months 18 months

Average Annual Opex (steady state) US$29.24 /ton US$27.37 /ton

Average Annual EBITDA (steady state) US$67 million US$100 million

Net Present Value (8%, ungeared) US$310 million US$315 million

IRR 42% 36%

BFS Summary (Mine Level) Poplar Grove Cypress

Final BFS Results

25

Cautionary Statements and Important Information

This presentation does not constitute or form part of any offer to sell, or solicitation of any offer to buy, any securities in the United States or any other country. This presentation may notform the basis of any contract or commitment whatsoever with any person. Distribution of this presentation may be restricted by applicable law. In particular, only persons in the UnitedStates who are “qualified institutional buyers” (as defined in Rule 144A under the US Securities Act of 1933) may receive this presentation.

This presentation has been prepared by Paringa Resources Limited (“Paringa”) as a summary only, and does not contain all information about Paringa’s assets and liabilities, financialposition and performance, profits and losses, prospects, and the rights and liabilities attaching to Paringa’s securities. Any investment in Paringa should be considered speculative andthere is no guarantee that they will make a return on capital invested, that dividends would be paid, or that there will be an increase in the value of the investment in the future.

Paringa does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Recipientsof this presentation should carefully consider whether the securities issued by Paringa are an appropriate investment for them in light of their personal circumstances, including theirfinancial and taxation position.

Forward Looking Statements

Some of the statements contained in this presentation are forward looking statements. Forward looking statements include but are not limited to, statements concerning plans for itsmineral projects, exploration and development activities, development plans and timing, development and operating costs, and other statements which are not historical facts. When usedin this presentation, and in other published information of Paringa, the words such as “aim”, “could”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressionsare forward-looking statements.

Although Paringa believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be giventhat actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward looking statements include the potentialthat Paringa’s projects may experience technical, geological, metallurgical and mechanical problems, changes in mineral product prices and other risks not anticipated by Paringa.

Competent Persons Statements

The information in this report that relates to Exploration Results, Coal Resources, Coal Reserves, Mining, Coal Preparation, Infrastructure, Production Targets and Cost Estimation wasextracted from Paringa’s ASX announcements dated March 28, 2017 entitled “Expanded BFS Results Confirms Development Pathway to A$850 million NPV” and December 2, 2015 entitled‘BFS Confirms Buck Creek will be a Low Capex, High Margin Coal Mine’ which are available to view on the Company’s website at www.paringaresources.com.au. The information in theoriginal ASX announcements that related to Exploration Results and Coal Resources is based on, and fairly represents, information compiled or reviewed by Mr. Kirt W. Suehs, a CompetentPerson who is a Member of The American Institute of Professional Geologists. Mr. Suehs is employed by Cardno. Mr. Suehs has sufficient experience that is relevant to the style ofmineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves’ and to qualify as a Qualified Person as defined in the 2011 Edition of the National Instrument 43-101 and CanadianInstitute of Mining’s Definition Standards on Mineral Reserves and Mineral Resources.The information in this report that relates to Coal Reserves, Mining, Coal Preparation, Infrastructure, Production Targets and Cost Estimation is based on, and fairly represents, informationcompiled or reviewed by Messrs. Justin S. Douthat and Gerard J. Enigk, both of whom are Competent Persons and are Registered Members of the Society for Mining, Metallurgy &Exploration. Messrs. Douthat and Enigk are employed by Cardno. Messrs. Douthat, and Enigk have sufficient experience that is relevant to the style of mineralization and type of depositunder consideration and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves’ and to qualify as Qualified Persons as defined in the 2011 Edition of the National Instrument 43-101 and Canadian Institute of Mining’s DefinitionStandards on Mineral Reserves and Mineral Resources.

Paringa confirms that: a) it is not aware of any new information or data that materially affects the information included in the original ASX announcements; b) all material assumptions andtechnical parameters underpinning the Coal Resource, Coal Reserve, Production Target, and related forecast financial information derived from the Production Target included in theoriginal ASX announcements continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in thispresentation have not been materially modified from the original ASX announcements.

Head Office: 6724 E Morgan Avenue, Suite B | Evansville | Indiana | 47715New York Office: 6 E 46th Street, 3rd Floor | New York | NY | 10017Registered Office: Level 9, BGC Centre, 28 The Esplanade | Perth | WA | 6000

Email: info@paringaresources.comWebsite: www.paringaresources.comABN: 44 155 922 010

www.paringaresources.com