Metmar LimitedPresentationMarch 2013

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DISCLAIMER

Disclaimer:

This presentation contains forward-looking statements about the company’s operations and financial conditions. They are based on Metmar Limited’s best estimates and information at the time of writing. They are nonetheless subject to significant uncertainties and contingencies many of which are beyond the control of the company. Unanticipated events will occur and actual future events may differ materially from current expectations due to new business opportunities, changes in priorities by the company or its joint ventures as well as other factors. Any of these factors may materially affect the company’s future business activities and its ongoing financial results.

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Who is Metmar?

• Commodity trader; finance and logistics facilitator and identifying new

sources of supply

• Elimination of risk and building long term customer and supplier

relationships

• Developing assets and generating revenues related to mining, producing

and trading of ores, alloys, metals, carbon materials, plastics and

chemicals

• Strong value proposition to customers and suppliers:

• Long standing relationships with leading local and international financial

institutions

• Extensive worldwide network and experience in identifying and managing of

associated risks

• Listed on the JSE; Bloomberg (MML:SJ), Reuters (MMLJ:J)

• Executive management aligned with shareholder interests

Metmar Limited - Structure

Metmar Polychem

Metmar

Trading

Metmar Investments and

Resources

METMAR LIMITED

David EllwoodCEO

Piet BoshoffCEO

Greg LotisCEO

Brent HeanCEO

All Investments and Projects

Metals and Minerals Trading

WAG, SNF,Plastics and

Rubber

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Michael Golding

COO

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Metmar Investments and Resources

• Strategic stakes in key investments

• Focused on key commodity sectors

• Top priorities: Chrome, Manganese, Coal/Coke, Tin/Tantalite and Pig Iron

• Defined investment criteria

• Review of existing portfolio underway

Investments and Projects ■ Deal-making ■ Financial modelling ■ Capital raising ■

Interaction with Funding Partners ■ Resource Management ■ Managing All Risks

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Metmar Trading

• Core business of Metmar with >27 year trading history

• Positioned to leverage growth from Metmar Investments and Resources

• Increased volume flows from associated offtake agreements

• Supportive local and international banking relationships

• Increasing trade finance lines to satisfy growing volumes flowing from Group’s

investment activities

Metals and Minerals Trading ■ Offtake Agreements ■ Commodity Market Intelligence and

Pricing ■ Global Customer Base ■ End-to-end Logistics and Finance Facilitator

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Metmar Polychem

• An autonomous division of Metmar Trading

• Separate accounting functions

• Reports to Metmar Board

• Distribution volumes average 50 000mt p.a.

• Largest SA distributor by volume of broad range of rubbers and plastics

• Warehousing and logistics services in the major centres in South Africa

• Ranked among the Top 5 suppliers of polymer raw material in S.A.

• Contribution to total Metmar profit has increased annually

• Extensive management experience retained within division

Plastics and Rubber Distribution and Trading ■ WAG ■ SNF

Food Chemicals and Ingredients

Metmar Investments and Resources

Investments and Projects

Metmar Investments and Resources: Core Investments and Projects

Kalahari Resources

Manganese

Kivu Resources

Rwanda Tin/Tantalite

Alphamin Resources

DRC Tin

Metmar Industrial

Zim Coke / Stockpiles

SA Metals Equity

Pig Iron

Eastern Belt Chrome Mines

South Africa Chrome

Metmar Africa (Mauritius)

Zimbabwe Chrome

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Metmar Investments and Resources: Non-core Investments and Projects (available for sale)

Clay Fusion Technologies

Low cost brick making patent +

equipment

Pering Base Metals

Zinc/Lead mine

Chrome Gravity Separation Plant

100,000 tpm spiral circuit

Gassifier

1.2 MW coal gas fired generation unit

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Metmar Speciality Metals

Vanadium slag stockpile / Hydro-

met process equipment

Metmar Investments and Resources

Metmar Chrome Business

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Metmar Chrome Assets

• Eastern Belt Chrome Mines (100%)

• Chrome ore offtake agreements with Metmar Trading

• Sefateng Chrome Mines: 36mt LG6 + LG6a deposit with opencast

material

• Steelpoort Chrome Mines: 700 000t opencast high margin ore body

• Zimbabwe Alloys Chrome (7,7% effective)

• Former Anglo American operation

• Smelting complex in need of refurbishment

• >40mt high grade chrome resource

• Company complies with local indigenisation laws

Metmar Investments and Resources

Other strategic investments

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Manganese: Kalahari Resources (4.66% indirect investment in Kalagadi Manganese Project)

• R12bn project

• Underground mine: 3mt ROM ore p.a.

• On site beneficiation: 2.4mt of sinter p.a.

• Potential smelter to be built at Coega

• 320 000t HCFeMn p.a. from 700 000t sinter

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Pig Iron: SA Metals Equity (20% direct investment)

• Plans to build Fe extraction plant from Calcine (residue from vanadium

manufacturing) Calcine stockpiles in SA exceed 60mt

• Exploring opportunities to secure Calcine stockpiles in Rustenburg / Brits area

• Secured all required technologies under exclusive licenses

• Metmar provided R8m of angel finance to fund pre-feasibility study, in exchange for

20% stake

• SA Metals raised R30m in 2012 to fund a bankable feasibility (significant premium to

Metmar entry level)

Production cost of <$200 per ton:

Significant profit potential

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Rwanda Tin: Kivu Resources (32.4% direct investment)

 Gatumba Mining Concessions (89.9% owned by Kivu)

• GMC recently re-capitalised with USD 7.4 million• All creditors settled• Plant and Machinery purchased:

- Earth moving & drilling- Crushing, screening & gravitation- Ancillary

• 100 tpm expected in H2 2013

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Questions?

Further information contact:

Disclaimer:

This presentation contains forward-looking statements about the company’s operations and financial conditions. They are based on Metmar Limited’s best estimates and information at the time of writing. They are nonetheless subject to significant uncertainties and contingencies many of which are beyond the control of the company. Unanticipated events will occur and actual future events may differ materially from current expectations due to new business opportunities, changes in priorities by the company or its joint ventures as well as other factors. Any of these factors may materially affect the company’s future business activities and its ongoing financial results.

Sean Naylor, CFA

Corporate Finance / Investor Relations

Tel: +27 (0)11 267 3000Email: sean@metmar.co.za

David EllwoodExecutive Director,

CEO

Tel: +27 (0)11 267 3000Email: david@metmar.co.za