www.traxys

1 ShanghaiHong KongBeijingNew DelhiJohannesburgRichards BayIstanbulLuxembourgDusseldorfParisMadr idNew YorkPittsburghCos CobMexico CityBelo HorizonteLimaMoscowFort provide a suite of world-class commercial and financial services to help you develop opportunities and better serve your businesses with less risk, less working capital, and most importantly, more transparency. The results: you get a faster return-on-investment with less effort and more ServicesTraxys ProductsTraxys InvestmentsTraxys focuses primarily on marketing and sourcing base metals and concentrates, minor and alloying metals, industrial minerals and chemicals, and materials for steel mills and foundries. Along the way, we manage all parts of the supply chain from producer to end-user is your partner for marketing, sourcing, financing and investing, in the metals, minerals and mining To be a cornerstone in the global market for raw expertise provides superior insight, connectingsupply with demand and managing risk.

2 In working to establish a more responsible supply chain, we add value and facilitate making better products for abetter and more sustainable future. Integrity We keep our word. We do the right thing. We make a positive impact with our responsible business practices Diversity We welcome people, talent, ideas and contribution Creativity We seek to be better through new thinking Entrepreneurial Spirit We create value and opportunity Intensity We are rigorous, determined and work hard to deliver results Relationships We model partnership and communication through respect for othersOur Mission and Our Metals founded1974 Considarfounded when Continental Metals is sold to Arbed1986 Hochschild Partners is merged with Considar1999 traxys formed with the merger of Considarand Sogem2003 Pegasus, Kelso and traxys Management become shareholder partners2006 Resource Capital Funds becomes a shareholder interest in Umicoreacquired2007 Minority interest of ArcelorMittalacquired2008 MolycorpIPO2010 GAM investment2011 The Carlyle Group and affiliates of Louis M Bacon acquire majority interest2014 traxys acquires MetmarLimited in South Africa2015 traxys acquires former TATA FeCrSmelter in South Africa2016 traxys acquires CMC Cometals Division2017 traxys was formed in 2003 with the merger of two well-known forces in the metals marketing industry: Sogemand Considar,combining the services, products, and geographical strengths of both companies.

3 Withroots dating back to 1919, Sogemwas previously owned by Umicoreand served as a marketing, distribution, and trading group involved mainly in base metals and concentrates. Sogemprimarily focused on serving Europe, Africaand Asia. As a division of Arcelor, Considarspecialized in serving the steel industry through the sourcing of ferro-alloys and other specialty metals and focused primarily on the North American market. In 1997, Considaracquired the majority of Hochschild Partners LLC and itssignificant zinc and lead activity. In 2006, Arcelor and Umicoresold a majority stake in traxys to the management of traxys in a buyout sponsored by two pre-eminent private equity firms: Pegasus Capital Advisors and Kelso & Company. Subsequently, Resource Capital Funds became a shareholder. In 2014, global alternative asset manager The Carlyle Group (NASDAQ: CG), together with affiliates of Louis M. Bacon, the founder, Chairman, Chief Executive Officer and principal investment manager of Moore Capital Management, , acquired a majority interest in traxys from Pegasus, Kelso and addition, traxys management increased its investment stake in the company.

4 traxys has become a global leader in marketing, distributing, sourcing, financing, and investing in the mining, metals and minerals industries. With more than 20 locations globally, traxys continues to grow, create partner networks, and focus on business development and investment in and with its customers and product experts have the knowledge and experiencein distribution, financing solutions, and the ability to access exotic markets with METALS & AND BRASS MILL PRODUCTSA luminumCopper BlisterGoldCopper OresCopper SecondariesLead OresNickel Ores and ConcentratesLead MetalsNickel IntermediatesNickel MetalsLead ConcentratesTinTin OresSilverCopper CathodesZinc ConcentratesZinc OresZinc MetalsCopper ConcentratesCopper Alloy WireBrass WireLeaded Nickel Silver KeystockLeaded Brass KeystockBrass RodCopper Bus BarCopper RodBrass Sheet/PlateCopper Sheet/PlateCondenserTubeCopper Nickel TubeBrassTubeCopperTubePhosphor BronzeStrip/CoilBrassStrip/CoilCopper Strip/CoilPRODUCTSOur product experts have the knowledge and experiencein distribution, financing solutions.

5 And the ability to access exotic markets with DeoxAluminum Powders & GranulesCalcium SiliconChrome OreCharge ChromiumChromiumMetalCobaltMedium Carbon Ferro ChromeHigh Carbon Ferro ChromeHigh Carbon Ferro ManganeseLow Carbon Ferro ChromeMedium Carbon Ferro ManganeseLow Carbon Ferro ManganeseFerro BoronFerro MolybdenumFerro NiobiumFerro NickelFerro PhosphorusFerro Silicon Low AluminumFerro Silicon ManganeseFerro TitaniumFerro TungstenFerro VanadiumMagnesium MetalManganese Metal FlakesMolybdenum ConcentratesManganese Metal LumpyMolybdenum OxideNickel CathodesIron OreTungsten OreSteel Making EquipmentLow Carbon Silico ManganeseSilicon ChromePig IronSilicon MetalSilicon CarbideTitanium SpongeTitanium SlagsVanadium SlagsVanadium PentoxideManganeseOreCalcium MetalManganese MetalChrome AlloysMaster AlloysNiobium ProductsVanadium ProductsAluminum AlloysManganese AlloysZirconium ProductsTantalum ProductsMATERIALS FOR STEEL MILLS & FOUNDRIESCARBON, COKE, COAL PRODUCTS AND OIL FIELD MINERALSPRODUCTSCoal Tar PitchFlexicokePetroleum NeedleCokeBlast Furnace CokeMetallurgical CoalAnthracite CoalCenospheresProppantsMINOR & ALLOYING METALSPRODUCTSINDUSTRIAL MINERALSOur product experts have the knowledge and experiencein distribution, financing solutions.

6 And the ability to access exotic markets with MetalBauxiteFused MagnesiteFluorsparIlmeniteQuartzSodium BicarbonateSilicon CarbideRefractory Chrome OreBrown Fused AluminaWollastoniteZircon Sand/FlourWhite Fused AluminaCalcined BauxiteMetallic OxidesKyaniteVermiculiteOlivineRutileCal cined AluminaSoda AshMulliteLithium CarbonateDead BurntMagnesiaSilicon MetalSpodumeneFerrous SulphateZinc SulphateCaustic Calcined MagnesiteEmeryGraphite ElectrodesCarbon ElectrodesPotassium ProductsBarium ProdcutsAmmonium PerrhenateAntimonyGalliumCadmiumCobaltGe rmanium MetalOsmiumIridiumNickelGermanium DioxideRutheniumSeleniumRheniumArsenicTe lluriumTungstenBismuthHafniumIndiumChrom ium MetalMolybdenum Metal & ScrapRhodiumZirconiumCobaltSaltsTantalum PRODUCTSOur product experts have the knowledge and experiencein distribution, financing solutions, and the ability to access exotic markets with makes investments in and provides afull-range of commercial and financial solutions for mining and other production projects globally.

7 Our experienced team includes world-class professionals who are able to provide a full selection of service options. Equity Finance Debt Finance Buyouts Marketing & TradingFor mining enterprises with proven resources, traxys is able to bring your product from project to has the financialstrength to give you confidence in counterpart performance and dependability. You have the ability to collect promptly or use our agreement as your collateral for dealing with financiers and other business AGREEMENTST raxys acts as your agent by representing your interests from the first introduction to consumers to the ultimate delivery and execution of the sale. traxys coordinates directly with you as the producer and based on our extensive experience with the product and consuming market, we give guidance about commercial strategies and pricing. This process provides complete transparency all the way through to final has the financial resources, technical expertise andin-depth industry knowledge to help you hedge prices so you can better forecast your helps its customers find solutions that maximizevalue and minimize risk.

8 The breadth of our global network allows us to keep up with rapidly changing marketconditions and react efficiently. Our teams deal at a local level worldwide financially and culturally to expedite SUPPORTAs a global company, traxys has worldwide logistics partners that help guarantee your products leave your facility and arrive at your customer s location in a safe and timely manner. We help fulfill your end-customer requirements by executing your distribution agreements. Whether it s regional, national or international, or whether it s one truckload per week delivered to a plant or 10 shiploads unloading at a major port, we have the resources to meet your customers with new customers or challenging markets carries a level of risk that can disrupt cash flows. traxys has the international industry know-how tostructure your transactions to minimize your risk. You can rest assured that no matter the unpredictability of the situation, traxys can help manage your RISK COVERAGE & INSURANCET raxys has the financial resources to offer solutions ranging from simple working capital funding to highly-structured long-term financing, both to suppliers and HorizonteTraxys , 456 11 andarBelo Horizonte MG / Brazil Tel: +55 31 3274 4010 Fax: +55 31 3274 4011 CosCobTraxys North America LLC99 RiverRoadCos Cob, CT 06807 USATel: +1 203 4136271 Fax: +1 203 4136282 LimaTraxys PeruSACA venida Victor Andres Belaunde,#1815th Piso, (5th Floor) San Isidro, Lima 27 PeruTel : +51 1 6522060 Fax : +51 1 6522061 MexicoCityTraxys Mexico SA de CV Arquimedes#19, Piso3 Colonia Bosques de Chapultepec el MiguelHidalgoMexico , , MexicoTel: +52 55 55314003 Fax: +52 55 55314202 NewYorkTraxys North America LLC825 ThirdAvenue, 9thFloorNew York, NY 10022, USATel: +1 212 9188000 Fax.

9 +1 212 9188076 PittsburghTraxys North America LLC 116 Saddle Ridge Drive Oakdale, PA15071 Tel: +1 724 2181735 AMERICASFort LeeTraxys Cometals USA LLC2050 Center AvenueSuite 250 Fort Lee, NJ 07024, USATel. +1 201 302 0888 Fax: +1 201 302 9911 StamfordTraxys North America LLC1266 East Main StreetSoundviewPlaza Suite 700 RStamford, CT 06902, USATel: +1 212 407 1084 Fax: +1 203 539 6047 JohannesburgTraxys Africa Trading Brix Pty CulrossRoadCNR Main RoadBryanston, 2021, SouthAfricaTel: +27 11 4474231 Fax: +27 11 4470957 AFRICAR ichards BayRichards Bay Alloys25 CulrossRoadCNR Main RoadBryanston, 2021 SouthAfricaTel: +27 11 4474231 Fax: +27 11 sseldorfTraxys Deutschland GmbHPeter-M sseldorf, GermanyTel: +49 211 17170000 Fax: +49 211 17170199 IstanbulTraxysTurkeyBagdat CaddesiDurak,No. 142/3-4 Feneryolu, 34726 Kadikoy8104 IstanbulTurkeyTel: +90 216 4181668 Fax: +90 216 4181878 LuxembourgTraxys Europe SA traxys Cometals Europe SARL19-21 route d ArlonImmeubleSerenityBatimentsC&D, 2nd FloorL-8009 Strassen, LuxembourgTel: +352 4599991 Fax: +352 459999222 MadridTraxys Metales y Qu micos, Ferrero,13-Bajo28036 Madrid SpainTel: +34 91 3789730 Fax: +34 91 3147585 MoscowTraxysRussiaTraxys Cometals RussiaRepresentative Office of traxys Europe SABusiness Center Dobrynia 4 Dobryninskypereulok, 8, Office R01-204119049 Moscow Tel: +7 4959357952 NewDelhiTraxysIndiaLiaison office of traxys Europe 408, DLF SouthCourtDistrict Centre SaketNew Delhi -110017 IndiaTel: +91 11 49669900-05 Fax: +91 11 49669906 ParisTraxys France SAS 49 AvenueHoche75008 Paris FranceTel: +33 1 40554010 Fax.

10 +33 1 40554011 EUROPEB eijingTraxys (Beijing) Industrial Raw Materials Trading LimitedTraxys Europe Beijing Representative OfficeUnit 2301-2302, Raffles City Beijing Office TowerNo 1, DongzhimenSouth Street, DongchengDistrictBeijing, 100007 -ChinaP. +86 10 8569 7200F. +86 10 8569 7209 or 7210 HongKongTraxys Far East Limited 15th Floor, Centre Point, 181-185 Gloucester Road, Wanchai, HongKongTel: +852 39691781 Fax: +852 39691789 ShanghaiTraxys (Shanghai) Trading Co Ltd. traxys Cometals ChinaRoom2002/3, TongshengMansion No. 458 FushanRoad, PudongNewAreaShanghai 200122 China Tel: +86 21 20398300 Fax: +86 21