WE’RE ABOUT

Presentation to the ICE

Presentation by Matt Parsons and Mark Pooleman

March 2018

DELIVERY

1

GLOBAL DEMAND DRIVERS FOR FERTILIZERS

Global demand driven primarily by food, feedand fuel demand

Fertilizers are fundamental to improving agricultural yields and addressing future imbalance between food demand and supply

.

33%

Notes: 1) According to United Nations (UN) Population Division.

2) According to the Organisation for Economic Cooperation and

Development (OECD) to meet rising food demand. 3) According

to the Food and Agriculture Organization (FAO). 4) Protein

consumption increase per capita between 2010 – 2050 (FAO).

World population

expected to grow

between 2015 – 20501

60%Increase in agricultural

production required

2010 – 20502

53%Growth in middle class

population between

2020 – 20301

-15%Reduction in arable land

from 2,100m2 – 1,800m2 per

person by 20503

63%Increase in meat demand to 130g per day by 20504

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Sustaining the future.

2

WORLD’S LARGEST & HIGHEST GRADE POLYHALITE RESOURCE

Notes: SM11 and deflections SM11A and SM11B completed. SM14 exploration completed. The general area of interest shown is a conceptual outline of where the Company currently holds mineral rights.

Historical boreholes not

drilled to depth of

polyhalite resource

Historical boreholes drilled

through polyhalite

General area of interest

York Potash borehole

Mineral transport system

Resource area

Polyhalite JORC reserve of 280 million tonnes and resource of 2.66 billion tonnes

3

THE ATTRACTIONS OF POLY4

POLY4 characteristics

• Straight or as part of a fertilizer blend

• No negative effect on soil conductivity

• Low chloride

• Does not change soil pH

Notes: 1) Based on 90% polyhalite grade. Macro nutrients based on w/w5 and micro nutrients based on mg/kg; micro nutrients’ content: B 169, Zn 1.9, Mn 3.1, Mo 0.3, Se>0.5, FE>0.5, Cu 1.1, Sr 1414. 2) POLY4 is the trademark name for polyhalite products from the

Sirius Minerals polyhalite project in North Yorkshire, *48% SO3.

A SINGLE SOURCE OF BULK NUTRIENTS AS FOUNDATION FOR EFFECTIVE, EFFICIENT, FLEXIBLE AND SUSTAINABLE FERTILIZATION

Magnesium (MgO)

6%14%

Potassium (K2O)

Sulphur (S)*

19%

17%

Calcium (CaO)

Micro nutrients: boron, zinc, manganese, selenium, iron, copper, strontium

4

DEVELOPMENT PLAN

World class partners

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RESOURCE, MINE LOCATION, SALES

Mine location announced

Major offtake contract 1Mtpa for 10 years

Defined polyhaliteresource of 2.66 billion tonnes

Acquisition of York Potash Project

Exploration drilling commences

2011 20132012

6

CROP STUDIES, PLANNING AND FINANCING

Planning approval for the mine site

Secured Stage 1 financing

Impressive crop study results continue

2014 2015 2016

7

CONSTRUCTION STARTS, FUTURE PRIORITIES

Progress construction

Sales agreements

Stage 2 financing

First polyhaliteConstruction starts

20162017 2018 2021

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ECONOMIC BENEFITSGENERATING AN ECONOMIC BOOST TO THE LOCAL, REGIONAL AND NATIONAL ECONOMIES

• Largest private sector investment in the North

• £3.2 billion capital investment • Significant opportunities for the region

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GIVING SOMETHING BACK

An independent charity

Funding community projects

£13 million per annum

Apprentices

Graduates

Work experience

Increasing skills and aspirations

Worked with over 70 schools

8,000 young people

Education Opportunities

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PLANNING COMMITMENTS

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Traditional approach to mining has historically been low cost, high impact

A NEW BENCHMARK IN SUSTAINABILITY

Woodsmith Mine, North Yorkshire, UK

PotashCorp Rail Line, CanadaPotashCorp, Canada

Boulby Potash Mine, North Yorkshire, UK

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WOODSMITH MINE

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WOODSMITH MINE - CONSTRUCTION SO FAR

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DIAPHRAGM WALLS

T

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The future of fertilizer.15

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STARTING THE SHAFTS - WOODSMITH

• Three hydro-cutter

diaphragm walling rigs

• Foreshaft panels set to

60m deep

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DOING THINGS DIFFERENTLY

WINDER

FOUNDATION

HEADGEAR

CHAMBER

MAIN SHAFT

DIAPHRAGM

WALLS

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DOING THINGS DIFFERENTLY

WINDER

SURFACE

BUILDING

HEADGEAR

CHAMBER

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FORESHAFTS AND SUNKEN HEADFRAMES

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DIAPHRAGM WALLS – KEY ENVIRONMENTAL CHALLENGES

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• Control of Bentonite Losses to Ground

• Control of Groundwater Levels

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MAIN SHAFT SINK – SHAFT BORING ROADHEADER

The future of fertilizer21

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LOCKWOOD BECK – CONSTRUCTION SO FAR

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INTERMEDIATE ACCESS SHAFT SECTION

Secant pile wall

Shaft

Freeze hole

Winder foundations

- 160 metres

- 30 metres

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SECANT PILE WALL

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MINERAL TRANSPORT SYSTEMHIGH-CAPACITY CONVEYOR BELT SYSTEM IN A 37KM TUNNEL

2017 milestones

• Complete site preparation at Lockwood Beck

• Progress design

Lockwood Beck

Wilton

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MATERIAL TRANSPORT SYSTEM – TBM’S

• 3 No TBM’s

• Drive 1 EPB machine commencing 2018

• Drives 2&3 Currently planned to be double shield machines starting 2020

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MATERIAL TRANSPORT SYSTEM

• 37KM Long

• Carries:

• Up to 20Mtpa Polyhalite

• Communications Cables

• Wastewater

• Main Power Supply for mine site (66kV)

• Conveyor Power Supply (11kV)

• Access/Maintenance Train

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TUNNEL ALIGNMENT

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SEISMIC WORK AND BOREHOLES

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CONSTRUCTION METHODOLOGY

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MATERIALS HANDLING AND HARBOURSIMPLE AND COST-EFFECTIVE GRANULATION TO PRODUCT POLY4

Expansion Development boundary

Conveyor to port

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MATERIALS HANDLING AND HARBOUR

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PORTAL AT MATERIALS HANDLING FACILITY SITE

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THANK YOU

Any questions?