1. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 US-Saudi Business Opportunities Forum Saudi Arabian Mining Company Company 29 April 2010 Mohammad Bajba

2. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Introduction Evolution of Ma’aden Ma’aden Current Business Ma’aden Aluminum Project Available Infrastructure Future Opportunities Table of Contents

3. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Government investment in infrastructure to promote diversification facilitates growth of minerals industry and downstream opportunities. Well positioned for growth as Saudi Arabia expands into new industries to take advantage of abundant mineral resources and well advanced infrastructure. MA’ADEN

4. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 BeginningGold DevelopmentMining Law & RailwayExpansion & GrowthCapitalization 1997~19992000~20022003~20062009~2007~2008 1997 Established 1999 50% of Petromin interest in SCPM 2000 Al Hajar Gold Mine commissioned 2002 Bulgah Gold Mine Opened 2004 KSA Mining Investment Law 2006 North-South Railway approved by Council of Ministers 2009 Aluminum Joint Venture with ALCOA ECA with SWCC Today Publicly traded company (CAP over SR.9,25B With aspiration for massive growth 2007 Phosphate Joint Venture with SABIC 2008 Completed IPO 50% share public Evolution of Ma’aden

5. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Ma’aden Operation’s (KSA)

6. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Current Business World class diversified mining and minerals group. Organized to develop non- petroleum resources into competitive industries.

7. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 MinesStarted Years of Operation Gold Production (1988 to 2009) Mahd1988232,131,043 oz Sukhaybarat199120952,586 oz Al Hajar200110254,263 oz Bulghah20038488,817 oz Al Amar2008386,359 oz Total3,913,068 oz World Competitive Gold Mines Ma’aden Gold Mines

8. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Al Khabra Project Ma’aden Phosphate Company Feasibility Study Will be completed August 2010 93% Completed S/U 4 th Q 2010 70% 30% Ma’aden Phosphate Project Ma’aden Phosphate

9. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 9

10. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Introduction Evolution of Ma’aden Ma’aden Current Business Ma’aden Aluminum Project Available Infrastructure Future Opportunities Table of Contents

11. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Ma’aden Aluminum Project Lowest Aluminum cost worldwide Fully integrated complex (Mine & Refinery/ Smelter/Rolling Mill) Leading role in advancing Local and Regional economy as a major hub for the Aluminum and downstream sectors A catalyst for the generation of significant new businesses and employment opportunities

12. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 1,350 MW SWCC 1,350 MW SWCC Export Sales Domestic Sales Aluminum Smelter 740 ktpy Aluminum Smelter 740 ktpy Rolling Mill 380 ktpy Rolling Mill 380 ktpy Rolling Slab Aluminum Standard Ingot & T-Bar Flat Rolled Products Phase 1 Bulk Alumina Phase 2 Baiytha MINE 4,000 ktpy (dry) Baiytha MINE 4,000 ktpy (dry) Alumina Refinery 1,800 ktpy Alumina Refinery 1,800 ktpy Bauxite Ore Alumina One Project - Two Phases

13. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Aramco Mine &Refinery 4 Mt Mine Capacity 1.8 Mt/yr (SGA ) Mine &Refinery 4 Mt Mine Capacity 1.8 Mt/yr (SGA ) Rolling Mill Hot mill : 460 Kta Cold mill: 250 Kta Rolling Mill Hot mill : 460 Kta Cold mill: 250 Kta SWCC PROJ Power : 2400 MW Water : 1,025,000 M 3 /D SWCC PROJ Power : 2400 MW Water : 1,025,000 M 3 /D Heavy Crude Oil 8,000 BPD Heavy Crude Oil 8,000 BPD Natural Gas 500 mmscf/d (309+191) 21mmscf/day (MAC) Natural Gas 500 mmscf/d (309+191) 21mmscf/day (MAC) National Water Grid 1,000,000 tpd water National Water Grid 1,000,000 tpd water Gas ( 21 mmscf/day) Gas (521 mmscf/day) ( 1,350 MW) Water (Potable ( 13,000 mt/d (minimum)) Water ( Distillate ( 12,000 mt/d (maximum)) New Circuits National Electricity Grid 1,050 MW National Electricity Grid 1,050 MW 610 4594 7268 64 mw 52.3 mw 1228.5 mw (ICH & system losses) Electricity Smelter 740 ktpa Alum.(AP37) 2 PL – 360 Pots/line Smelter 740 ktpa Alum.(AP37) 2 PL – 360 Pots/line As per “MinPet“ Resource Allocation letter dated 7 th July 2009 Aluminum Complex - Utilities

14. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 SWCC Power SWCC Power SWCC Water Ma’aden Power Ma’aden Power Ma’aden Water Ma’aden Water Combined Power Project with SWCC Economies of scale - Capital - single EPC, building cost - Operating - single O&M contract Significantly lower capital investment Improved efficiencies by cogenerating of power & water Larger Station with Efficient Energy Utilization SWCC power SWCC power SWCC water Ma’aden power Ma’aden power Ma’aden Water Ma’aden Water 2400MW 1.025 M m3/d Ma’aden off take 1350MW & 0.025 mM 3/d 1050MW to SEC SWCC Off take 1M m3/d 50MW DS industries in RSZ

15. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Introduction Evolution of Ma’aden Ma’aden Current Business Ma’aden Aluminum Project Available Infrastructure Future Opportunities Table of Contents

16. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Saudi Railway Company Longest Worldwide (1,500KM) Overall performance for mineral line is 97% Expected completion date is Sep. 2010 Port Development 23 Km2 Area Six Berths Expected Completion date is Nov. 2010 Minerals Industrial City Strategic metals & minerals industry clusters Center of excellence Jubail Industrial City Partnership National Infrastructure Enhancement

17. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Introduction Evolution of Ma’aden Ma’aden Current Business Ma’aden Aluminum Project Available Infrastructure Future Opportunities Table of Contents

18. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Natural resources Clear mining laws Expanding supplier & services Liquidity & Stability Advance infrastructure Proximity to markets Access to energy Advantages for Investors

19. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Casting Products Rolled Products Aluminum End-user Applications Wires & Cables Extrusions

20. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Actively seeking partnership opportunities Joint ventures Investment Technology Suppliers and professional service Massive exploration potential Opportunities for Partnership

21. R-043 G-083 B-074 R-000 G-146 B-091 R-216 G-177 B:000 R-153 G-204 B-000 R-128 G-128 B-128 R-0.43 G-0.83 B-0.74 Thanks …