CMOC - 洛钼集团

1 CMOC. 2017 Interim Performance Release Corporate accounting standards in China . DISCLAIMER. The information contained in these materials has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in these materials. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of China Molybdenum Co., Ltd. ( CMOC ) financial or trading position or prospects. The information contained in these materials should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. CMOC, its subsidiaries, shareholders, affiliates, directors, officers, employees, advisors and representatives shall not have any liability whatsoever (in negligence or otherwise) for any loss or damage howsoever arising from any use of these materials or contents, nor any other loss or damage arising in connection with these materials.

2 Certain information contained in these materials constitute forward-looking statements. Forward-looking statements include, but are not limited to, the company's growth potential, costs projections, expected infrastructure development, capital cost expenditures, market outlook and other statements that are not historical facts. When used in these materials, the words such as could , plan , estimate , expect , intend , propose , may , will , potential , should , and similar expressions are forward-looking statements. Although CMOC believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve known and unknown risks, uncertainties and other factors, certain of which are beyond CMOC's control, that may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance or achievement.

3 These risks, uncertainties and other factors include, but are not limited to: general business and economic conditions globally or in certain jurisdictions; legislative and/or regulatory changes; the behavior of other market participants; fluctuations in the price of copper and other commodities; fluctuations in currency exchange rates; CMOC's ability to integrate acquisitions; operating or technical difficulties in connection with development or mining activities; the speculative nature of exploration and development, including the risks of obtaining the necessary permits and licenses;. risks and hazards associated with the business of exploration, development and mining; availability and cost of inputs; availability and cost of shipping; risks of maintaining licenses and approvals; changes in the tax rates or introduction of new taxes. No assurance can be given that such forward-looking statements will prove to have been correct. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation.

4 CMOC disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable laws. These materials should be read in conjunction with CMOC's unaudited consolidated financial statements for the six months ended 31 June 2017 and other public disclosures. This document does not constitute or form part of an offer or invitation to issue or sell or a recommendation to acquire, purchase or subscribe for any securities nor shall it be construed as calculated to invite any such offer and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. 2. Agenda Group at a glance Group Financials China Operations international Operations Closing Remarks CMOC Value Proposition Our vision is to be a world class, international diversified mining company 2017 Copper Industry Cost Curve TFM NPM.

5 25% 50% 75% 100%. PROVEN ACQUISITION COMMODITIES THAT LOW COST/Long Life TRACK RECORD SHAPE OUR FUTURE PORTFOLIO. $ b of acquisitions Focused in three commodity All assets in the bottom completed in industry low groups: Base Metals, half of their respective cost period Specialty Metals & Minerals curve 2016 simultaneous execution Providing the key resources Majority of assets with of 2 major transactions; for housing, electric cars, greater than 20yr life 2. awarded Platts Deal of the light weight construction, Significant expansion Year efficient food supply potential 416% revenue growth 1. 1) H1 2016 period compared to H1 2017 period 4. 2) Based on Dec 2016 Reserve & Resource statement Global Unique Portfolio Across Diverse Commodities Revenue % 1. Cu 44% Major producer of Copper in the DRC and Australia (over 250 Kpa). Copper Co 21% World's 2nd largest producer Cobalt P 11% Brazil's 2nd largest producer Phosphates Nb 7% World's 2nd largest producer Niobium Mo 10% China s largest producer and World's 4th largest producer Molybdenum W 5% Largest tungsten concentrate producer in the world Tungsten Au 1% Producer of Gold as a by-product from Northparkes copper mine Gold 1) Revenue by Commodity on H1 2017; 1% Au & Other 6.

6 From Humble Beginnings . High Quality Assets acquired from Majors and Experienced international Management Executive and Operational teams Acquired Niobium &. Phosphates Operations CMOC Put/Call Market supporting BHR Cap. 1. Solid Foundation Assets acquisition of US$ in Mainland China 24% of TFM. Listed Predecessor 2012. company founded IPO. 1 Oct. 2016 20 Apr. 2017. 1969 2007. 2004 2008 Dec. 2013 17 Nov. 2016 6 Jul. 2017 24 Jul. 2017. Strategic Acquired 80% New Setup small Acquired 56% RMB 18b investment by in Northparkes international international interest in Tenke raised on a Private investor JV stake Office In team to focus Non-public (Cathay Fortune Phoenix, AZ. Holdings) on foreign Issuance USA. expansion Shares 1) Yahoo and Google Finance; Market Capitalization as of August 15th 2017 7. to a Top 15 Position among Public Mining Companies CMOC Group provided the highest 12 month stock return to Shareholders Market Cap. (US$ b)1 1Yr Stock Price Change (%).

7 29%. 42%. 34%. 73%. 69%. 48%. -7%. -10%. -30%. 45%. 18%. -24%. -21%. 100% (HKEx). 29%. 1) Google Finance; Market Capitalization as of August 15th 2017; Ranking excludes unlisted, state-owned enterprises and commodity traders 8. Outbound M&As Made History Announcement Main Deal value Acquirer Target date metal (US$ mm). The 3 largest global mining deals completed May 9, 2016 CMOC Group 56% Tenke Copper, $2,650. since 2016 Fungurume (Freeport) cobalt Niobium, phosphates Niobium, April 28, 2016 CMOC Group $1,500. (Anglo American) phosphates Simultaneous negotiations / executions;. complicated deal structure and intense November 15, CMOC Group 24% Tenke Copper, competition / $1,136. 2016 Fungurume (Lundin cobalt BHR Partners February 15, 2016 Sumitomo 13% Morenci (Freeport) Copper $1,000. Seized great market window to sign the SPA. when the prices of both copper 1 and cobalt 1. Thompson Creek were at historical low (USD4,698/ton and July 5, 2016 Genterra Gold Metals Copper $937.)

8 USD23,198/ton respectively). Batu Hijau June 30, 2016 PT AMI Copper $750. (NEM). Awarded Deal of the Year by S&P Global March 10, 2016 Boliden Kevitsa (First Quantum) Nickel $712. Platts 80% Rosh Pinah &. March 13, 2017 Trevali 90% Perkoa Zinc $400. (Glencore). 1 Copper price is sourced from Bloomberg, cobalt price is sourced from LME. 9. Timing is everything . LME copper price since 2015. 7,000. 6,500 SPA date Closing date 6,000. 5,500. 5,000. 4,500. 4,000. 2015-01-02 2015-04-02 2015-07-02 2015-10-02 2016-01-02 2016-04-02 2016-07-02 2016-10-02 2017-01-02 2017-04-02. Cobalt price since 2016. 25 Closing date 21 SPA date 17. 13. 9. 01/2016 02/2016 03/2016 04/2016 05/2016 06/2016 07/2016 08/2016 09/2016 10/2016 11/2016 12/2016 01/2017 02/2017 03/2017. "Preparation", "courage", "incisiveness" and "speed". 10. Safety is Critical to Our Success Providing safe conditions for our people and the local community delivers a motivated and more productive workforce and ensures compliance with local laws.

9 Overall safety performance improved from 2016 to date: Tenke Nb&P NPM China 2016 2017 YTD 2016 2017 YTD 2016 2017 YTD 2016 2017 YTD. LTI 5 3 LTI 6 2 LTI 2 1 LTI 6 2. TRI 19 15 TRI 35 12 TRI 4 3. Number of Lost Time Injuries (LTIs per Operation) China TFM Nb&P NPM. 1H 2016 1H 2017. Overall safety 3 3 3 performance 3. improvement to date 2 2. 1 1 1 1 1 1 1 1 1 1 1. 0 0. Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17. Note: LTI Lost time injury ; TRI Total recordable incidents 11. Successful Offering of RMB18 bn A-share Private Placement The 2nd largest ever 1-year lock-up A- share private placement; The largest ever 1-year lock-up A-share private placement in the non-financial sector Swift completion of unconditional regulatory approval oversubscription by high-quality investors amid highly challenging market conditions and new selling restrictions enacted by CSRC on May 27th 12.

10 Introduced Sophisticated and Long Term Investors Shareholding Structure after the A-Share Private Placement Major Shareholding Structure before the A-Share Private Placement Shareholders). # of shares # of shares held Shareholders held (100mm) Shareholding Shareholders (100mm) Shareholding Cathay Fortune Corporation Cathay Fortune Corporation (A+H in total) %. (A+H in total) %. Luoyang Mining Group Co., Ltd. %. Luoyang Mining Group Co., Ltd. %. Beixin Ruifeng Fund Management Co., Ltd. %. China Securities Finance Corporation Limited % CCB Principal Asset Management Co., Ltd. %. Other A-share shareholders % China Structural Reform Fund Co., Ltd. %. Other H-share shareholders % Bosera Asset Management ( international ) Co., Ltd. %. Hotland Innovation Asset Management Co., Ltd. %. Manulife Teda Fund Management Company Limited %. Minsheng Royal Fund Management Co., Ltd. %. China Securities Finance Corporation Limited %. CITIC-Prudential Fund Management Co.