Investor Presentation

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ASX | AMN

Investor Presentation

October 2015

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www.agrimin.com.au

Company Highlights

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Strategic focus on sulphate of potash (SOP) in Western Australia

 _{SOP is premium potash fertilizer used for high-value crops}  _{Supply shortage is supportive of new production}

 _{Current prices are ~US$700 per tonne (~A$960 per tonne)}

Key focus is the Mackay SOP Project (100% Agrimin)

 _{Extensive 2,457km}2_{ground holding offers world-class scale}

 _{Potential multi-generational asset located in a safe and stable country}

 _{Drilling confirms upside to the current SOP Mineral Resource of 22 million tonnes}  _{Updated Mineral Resource due Q4 2015}

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Corporate Snapshot

Directors and management

Stephen Everett – Non-Executive Chairman

Chemical engineer with over 35 years of management and board experience in the

international resources industry. Held senior executive and chairman positions of various private and ASX listed companies.

Mark Savich – Chief Executive Office

Chartered financial analyst with over 10 years of technical and financial experience in the resources industry. Significant experience in the due diligence, acquisition and financing of resource projects.

Alec Pismiris – Non-Executive Director & Company Secretary

Director of Capital Investment Partners which provides corporate advisory services. Over 25 years experience in the securities, finance and mining industries as a director and company secretary of various ASX listed companies.

Tom Lyons – General Manager

Geologist with broad experience in a range of commodities including industrial minerals, precious and base metals and bulks. Significant experience working throughout a number of jurisdictions, including remote regions of Western Australia.

Capital Structure

Share price Ordinary shares

Options + performance rights Fully diluted market cap Cash at bank

Debt

Share Price Performance

Substantial Shareholders

Tim Lyons

Eye Investment Fund Mark Savich Walloon Securities Terra Capital $0.23 90.1m 16.7m $24.6m $1.4m $0.0m 11.4% 7.5% 7.3% 6.6% 3.9% $0.00 $0.05 $0.10 $0.15 $0.20 $0.25

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SOP Uses

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Orange without SOP Orange with SOP

Source: IC Potash

Source: Bunnings Warehouse

A specialty fertilizer for high-value crops

 _{Sulphate of potash (SOP) is used on crops such as fruits, vegetables and tree nuts}  _{It improves the nutritional value, taste, appearance and shelf life of crops}

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Potash Consumption

SOP market turnover is circa US$4 billion per annum

 _{In 2013, global potash consumption was 56Mt – including 51Mt of MOP (KCl) and 5Mt of SOP (K}₂_SO₄₎  _{SOP contains almost no chloride, compared to MOP which contains 46% chloride}

 _{More than half of the world’s installed SOP capacity is the high-cost Mannheim Process}

MOP

SOP NOP SOPM

Total Potash Consumption

(~56Mt per annum)

Primary SOP

Mannheim

Reacted Salts

SOP Installed Production Capacity

(~7Mt per annum)

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SOP Production

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Industry Cash Cost Curve

Top 10 SOP Producers

Brine-hosted SOP operations lie at the bottom of the industry operating cost curve

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SOP Prices

Source: Euroz Securities, Reward Minerals

 _{SOP prices have more than doubled since 2007}

 _{Prices for standard SOP products are currently trading between}

~A$700/t – A$1,100/t 1

 _{Key supply and demand fundamentals:}

 _{Price inelasticity:}_{SOP demand is driven by high-value}

crops, where the cost of fertilizer has less of an impact on crop profitability

 _{Excess Capacity:}_{SOP supply is reliant on the high-cost}

Mannheim Process, most of which exists within China and is currently idle due to high production costs, inability to dispose of the hydrochloric acid by-product and high export tariffs

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US$722/st FOB US Gulf, €455/t FOB NW Europe and ¥3,600/t landed in China (Source: Compass Minerals, Argus FMB Potash)

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Mackay SOP Project

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Project Summary

 _{100% owned by Agrimin}

 _{Extensive 2,457km}2_{ground holding spanning Lake Mackay}

 _{Brine-hosted SOP deposit starts near surface and remains open at depth}

 _{SOP grades are highly homogenous across the project area}

 _{Constant rate pump tests identified areas of promising flow rates}

 _{Process simulation shows brine chemistry is suitable to produce SOP}

 _{Excellent evaporation rate of approx. 3,500mm per annum}

 _{Transport infrastructure in place and fit for bulk haulage}

 _{Mineral Resource estimation is underway}

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Key Features of Lake Mackay

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75km

Shallow brine and high flows for extraction:

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2015 Field Program

Extensive field program completed in September 2015,

including:

 _{27 aircore holes drilled to an average depth of 24.7m for resource definition}  _{14 piezometers installed for water monitoring purposes}

 _{2 cased wells installed with 24 hour pump tests performed on each}  _{39 auger holes drilled to an average depth of 1.5m}

 _{3 direct push holes drilled to collect samples for physical properties}  _{1 large trench (MT1) excavated with a 19 day pump test performed}  _{1 small trench (MP1) dug with a 24 hour pump test performed}

 _{100kg of geotechnical samples collected for trench and pond designs}  _{5,000L bulk brine sample collected for flowsheet development}

 _{Weather station installed for data collection}

Two hydrogeologists were on-site during entire program to supervise and monitor all pump testing activities

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Drilling and Auger Program

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 _{Brine saturated sediments start from an average of 40cm below surface}

and remain open below the 30m depth of drilling in the east

 _{Near surface sand-dominated zone gradually varying in thickness from}

30cm to 2m, west to east, respectively

 _{Significant brine flows occur from the sandy zones}

 _{Variable thicknesses of red-brown sandy clays and clays interspersed with}

layers of gypsum

 _{Significant brine flows occur from the gypsum layers}

 _{Basal consolidated sandstone/siltstone unit encountered at the bottom of}

some holes

 _{Promising brine flows occur at the lake sediment contact in some holes}

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Trenching Program

Trench at MT1:

 _{MT1 was approximately 110m long and 2.5m deep}  _{Located near the western edge of the lake}

 _{Constant rate pump test was performed for 19 consecutive days}

Trench at MP1:

 _{MP1 was approximately 23m long and 0.5m deep}  _{Located in the eastern area of the lake}

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Scoping Study Underway

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Key activities in progress:

 _{Resource estimation – brine reanalyses are being incorporated into a resource model and physical properties testwork is being undertaken on core samples}  _{Hydrogeological evaluation – pump test data from cased wells and trenches is being incorporated into a hydrogeological model}

 _{Geotechnical testwork – push tube samples are undergoing laboratory tests}

 _{Evaporation trials – bulk brine sample is undergoing detailed mass balance modelling and process simulation}

Key activities to follow:

 _{Process testwork and flowsheet development}  _{Brine extraction system design}

 _{Solar evaporation pond design}  _{Plant design}

 _{Services (power and raw water) studies}

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2014 2015 2016

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Acquisition of Project Data Verification Mineral Resource Land Access Agreement Transport Study Planning & Permitting Drilling & Trenching

Pump Testing & Bulk Sample Mineral Resource Update Scoping Study

Planning & Permitting Pre-Feasibility Study Drilling & Trenching

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High Quality Infrastructure In Place

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Transport Study was completed in March 2015

 _Road_{– Project is connected to Alice Springs via well-maintained sealed and}

unsealed roads which are used to transport fuel and supplies to communities

 _Rail_{– Alice Springs is connected to shipping terminals at Darwin via the}

Adelaide-to-Darwin railway. Bulk trains currently run between various mines and the Port of Darwin

 _Port_{– East Arm Wharf at the Port of Darwin caters for bulk carriers and comprises a}

bulk loading berth. Approximately 3.4 million tonnes was shipped in 2014-15, mostly bulk mineral exports

Map of Export Routes

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Social Licence to Operate

Growing genuine community relationships

 _{Agrimin has a strong working relationship with the local community and has a Land Access Agreement in place}

 _{The Mackay Project has an exciting potential to greatly improve community and employment opportunities for local people}

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Benchmarking to Existing SOP Operations

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Key attributes of existing brine SOP operations:

 _{Large and impermeable lakebed surface is necessary to support the use of un-lined evaporation ponds}  _{Substantial shallow resource is necessary to support the use low cost trenches to recover brine}

The Xinjiang Luobupo SOP operation was a key project under China’s 11th Five-year Plan. In 2006, the National Development and Reform Commission officially approved the operation. The total investment was CN¥4.8 billion, approximately US$400 million at that time. In 2008, the operation commenced production with annual capacity of 1.2Mt of SOP.

The Great Salt Lake SOP operation in Utah is owned by Compass Minerals (NYSE: CMP). This operation has been ongoing for over 40 years. In 2014, the operation produced 396kt of SOP generating a segment EBITDA of US$102 million for Compass Minerals. This is second largest primary SOP operation behind the Luobupo operation.

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Benchmarking to Existing SOP Operations

Overview of key parameters for SOP production:

 _{The initial concentration of potassium in the brine is important and will define the concentration factor and the recovery}

 _{The SO}₄_{:K ratio is important and will determine whether it is a SOP or MOP deposit. The higher the ratio the more suitable the brine is to produce SOP}

Project Country Company Status

Resource (tonnes) Depth (m) K (mg/L) SO₄ (mg/L) Mg (mg/L)

Great Salt Lake USA Compass Minerals Operational Unknown Unknown 4,600 17,400 8,000

Lop Nur China SDIC Xinjiang Luobupo Operational Unknown Unknown 10,413 16,584 16,444

Mackay Australia Agrimin Development 22,160,000 3 3,063 22,011 3,326

Mackay – Average Aircore Drill Results In Progress 25 3,603 23,051 3,036

LD Australia Reward Minerals Development 24,400,000 4 5,460 25,950 5,920

Karinga Lakes Australia Rum Jungle Minerals Development 8,400,000 17 4,730 40,000 6,500

Lake Sevier USA Crystal Peak Minerals Development 38,430,000 30 2,957 22,738 3,715

Brine Composition of Large-Scale SOP Projects

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Example: Lake MacLeod Salt Mine, WA

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Source: Rio Tinto (these are not Agrimin’s operations)

Trenches and evaporation ponds are currently used in WA

 _{Collection trenches have been dug into Lake MacLeod and brine is pumped out at an average rate of 55m}3_{per minute into an 8.5km transport channel}  _{A total of 1,650 hectares of evaporation ponds have been constructed on Lake MacLeod}

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Important Information

This presentation has been prepared as a summary only, and does not contain all information about Agrimin Limited’s (“Agrimin” or “the Company”) assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to Agrmin’s securities. The securities issued by Agrimin are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future. Agrimin does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this report. Recipients of this report should carefully consider whether the securities issued by Agrimin are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position.

Forward Looking Statements

Some of the statements contained in this report are forward looking statements. Forward looking statements include but are not limited to, statements concerning estimates of potash tonnages, expected costs, statements relating to the continued advancement of Agrimin’s projects and other statements which are not historical facts. When used in this report, and on other published information of Agrimin, the words such as “aim”, “could”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Although Agrimin believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward looking statements include the potential that Agrimin’s projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by Agrimin.

Competent Person’s Statement

The information in this statement that relates to Exploration Results for the Mackay Project is based on information compiled or reviewed by Mr Murray Brooker who is a full-time employee of Hydrominex Geoscience Pty Ltd. Mr Brooker is a geologist and hydrogeologist and is an independent consultant to Agrimin. Mr Brooker is a Member of the Australian Institute of Geoscientists and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person in terms of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code 2012 Edition). Mr Brooker consents to the inclusion of such information in this statement in the form and context in which it appears.

The information in this statement that relates to the Mineral Resource Estimate of November 2014 for the Mackay Project is based on information compiled or reviewed by Mr Simon Coxhell who is a full-time employee of CoxsRocks Pty Ltd and an independent geological consultant to Agrimin. Mr Coxhell takes overall responsibility for the Statement. Mr Coxhell is a Member of the Australian Institute of Mining and Metallurgy and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person in terms of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code 2012 Edition). Mr Coxhell consents to the inclusion of such information in this statement in the form and context in which it appears. Refer to the ASX Release of 10 November 2014 titled “Mineral Resource Estimate for Mackay Project”.

Exploration Target

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Registered Office Further Information

Level 7, BGC Centre, 28 The Esplanade Mark Savich

Perth, Western Australia 6000 Chief Executive Officer

Australia M: +61 402 746 757

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Appendix 1: Mineral Resource Estimate

Resource Category Brine Volume (m3₎ SOP Grade (kg/m3₎ Contained SOP (Mt) Inferred 3,299,260,425 6.72 22.16

 _{Inferred Mineral Resource containing 22.2Mt of SOP}

 _{Calculated to a shallow average depth of only 2.7m}

 _{Incorporates 24 vibracore drill holes drilled in 2009}

 _{Based on lake margins and tenement boundaries}

 _{Does not include two tenements recently applied for and}

which cover 295km2

 _{Mineral Resource Estimate is compliant with the JORC}

Code (2012 Edition) and prepared by an independent geological consultancy

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Appendix 2: Global Exploration Target

24 Target Range Brine Volume (m3₎ SOP Grade (kg/m3₎ Contained SOP (Mt)* Lower 4,600,000,000 6.69 30.00 Upper 12,400,000,000 8.91 110.00 * Note: Lower and Upper Exploration Targets are inclusive of the Inferred Mineral Resource of 22.16Mt

 _{Exploration Target containing between 30.0 and 110.0Mt of SOP}

 _{Target was based on a depth range of 8m to 16m and a}

potassium concentration range of 3,000mg/L to 4,000mg/L

Exploration Target – November 2014

Note: The above Exploration Target is based on a number of assumptions and limitations and is conceptual in nature. It is not an indication of a Mineral Resource Estimate in accordance with the JORC Code and it is uncertain if future exploration will result in the determination of a Mineral Resource. Agrimin’s current drilling program will test the depth and lateral extensions included within the Exploration Target.