GROUP

OVERVIEW

2017

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This presentation (“Presentation”) has been prepared for preliminary understanding of the scope of

the underlying projects in order to assist the recipient of the Presentation in making its own

independent appraisal of GPB Global Resources business opportunities.

The Presentation does not purport to be complete. It contains general information about the

activities of the GPB Global Resources Group as of the date of the Presentation. No

representation or warranty, expressed or implied, is made or will be made as to the accuracy,

reliability or completeness of any information contained in this Presentation.

All projections in this Presentation have been prepared by the representatives of GPB Global

Resources for illustrative purposes only. They do not constitute and should not be regarded as

a representation that the projected results will actually be achieved or that the underlying

assumptions are valid. The projections are subject to uncertainties and contingencies, all of

which are difficult to predict and many of which are beyond the control of GPB Global

Resources. GPB Global Resources has not independently verified these projections. All

inquiries in connection with this Presentation should be directed to GPB Global Resources

using the contact details provided herein.

The “GPB GR” abbreviation used in this Presentation may refer either to the holding company

GPB Global Resources B.V., incorporated in Amsterdam, or to the GPB Global Resources

Group, or to one of its subsidiaries.

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4 MANAGEMENT STATEMENT

5 FOOTPRINT

6 HISTORY

7 OUR BUSINESS

12 HIGHLIGHTS OF THE YEAR 2016

13 CORPORATE SOCIAL RESPONSIBILITY

14 CONTACTS

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”GPB Global Resources was established in 2011 expanding a highly

professional team of specialists in minerals and oil & gas exploration

and production, business development, M&A and finance.

Today, it is a rapidly growing E&P company, acting as an operator and a

technical expert in global oil & gas, mining, and energy industries.

We are focused on building a balanced portfolio of assets with the strategic

aim to create a high-value multi-faceted business.”

Boris Ivanov

GPB Global Resources B.V. Managing director

5

Oil

Uranium

Portfolio assets

Offices

LEGEND:

Professional

Team GPB GR employees

represent a team with

unique international

expertise & profound

experience in petroleum

and mining industries

Strategic

Partnership Capitalizing on 9 years of

presence in Africa and

Latin America, GPB GR

has become a reliable

and strong partner with

knowledge and strategic

vision of growth in these

regions

International

Presence GPB GR has built an

international footprint,

including offices in

Amsterdam, Moscow, and

Maracaibo

Knowledge

base Through years of business

practice GPB GR has

accumulated a large

geological database of

multiple regions and their

detailed characteristics Amsterdam

Maracaibo

Moscow

Niger

Ethiopia

Venezuela

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Netherlands

July: GPB GR established

its headquarters in

Amsterdam

Venezuela

July: PDVSA and GPB GR

established a joint venture

Petrozamora S.A. to develop

onshore mature oilfields in

the Maracaibo lake area

Venezuela

November: GPB GR

established “La Siembra” non-

profit foundation in Zulia state

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Ethiopia

July: Ethiopian Ministry of

Mines and GPB GR signed

Petroleum Production Sharing

Agreement for the Gewane-El

Wiha license area

Venezuela

July: JV Petrozamora S.A.

obtained 4 offshore mature

oilfields in Maracaibo lake,

doubled production and tripled

remaining reserves

Niger

February: Nigerien

Ministry of Minerals and

Energy and GPB GR,

signed Mining Convention

for exploring uranium in the

Toulouk-2 and Toulouk-4

license areas

2011 2012 2014 2015 2017

Venezuela

May: GPB GR repaid all the

financial commitments

(signature bonuses) to the

Bolivarian Republic of

Venezuela for the oil producing

assets previously acquired by

JV Petrozamora S.A.

OUR

BUSINESS

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Country / Location

Bolivarian Republic of Venezuela

Offshore blocks

Bachaquero Lago

Bloque III Bachaquero

Bloque III Centro

Bloque VII Ceuta

Acreage

1,844 km2

Location

Zulia State,

Lake

Maracaibo

Remaining

reserves

(as of

01.04.2017)

4,166 MMbbl

(offshore and

onshore)

Average

production

105 kbopd

offshore

(60 kbopd)

and onshore

(45 kbopd)

In July 2012, National Oil Company Petrоleos de Venezuela S.A. (PDVSA) and GPB GR established joint venture Petrozamora S.A. to

develop 2 onshore mature oilfields Lagunillas and Bachaquero. GPB GR entered the project being a strategic partner for

PDVSA in the area of financing and technical expertise of joint operations. GPB GR and PDVSA experts intensified

collaboration on new wells drilling, steam injection program, power supply maintenance and enhancing its reliability,

purchasing processes optimization to stabilize output and further increase fields’ production and raise its efficiency. New

sophisticated program for polymer injection is under study and represents an advanced production alternative to be

implemented in future.

In November 2013, Gazprombank (Russia), GPB GR, Petrozamora and PDVSA signed an oil prepayment facility of up to

1 billion US dollars to finance the investment program and operational activity.

In April 2015, National Assembly of Venezuela authorized Petrozamora to extend its portfolio with 4 offshore mature oilfields in Lake

Maracaibo. Following this consolidation, in July 2015, Petrozamora doubled production and tripled remaining reserves.

New assets represent a new growth prospective for Petrozamora in applying and expanding best practices in production and development

of mature oil fields as well as capitalizing on synergy effects with neighboring onshore fields of the joint venture.

Onshore blocks

Lagunillas Tierra

Bachaquero Tierra

Type

of Project

Oil production

at mature

oilfields

GPB GR

PDVSA

40% 60%

Production

phase

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In July 2014, Ethiopian Ministry of Mines and GPB GR signed Petroleum Production Sharing Agreement.

In January 2015, Bell Geospace, a world leader in Gravity Gradiometry, started Airborne FTG & Magnetic Survey in the Gewane-El Wiha

license area and completed interpretation of data in September 2015. Considering the survey results, GPB GR specialists

defined prospective areas for 2D Seismic Data Acquisition.

In April 2016, BGP Inc. (CNPC Group) completed 2D Seismic Acquisition. Petrotrace (Russia) was responsible for seismic data

interpretation works. During the assay the basin near Lake Cadabassa was determined as a potential area for further more

detailed seismic works. Correlation of the collected data with airborne gravity survey was tested and promising area defined in

the northern part of the block for expansion of the seismic studies to determine possible continuations of the Lake Cadabassa

basin and identification of potentially promising sites in the northern part of the license area. GPB GR continues to analyze the

geological data gathered.

Type

of Project

Exploration

for oil

Acreage

42,000 km2

License

Area

Gewane-

El Wiha

Expected

Resources

To be

estimated

Country / Location

Republic of Ethiopia

100%

GPB GR

Government

(call option)

15% 85%

Exploration

phase

Production

phase

GPB GR

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In February 2011, Nigerien Ministry of Minerals and Energy and GPB GR signed Mining Convention for exploring uranium in the Toulouk-

2 and Toulouk-4 license areas. The first stage of exploration works, completed in 2014 with 328 holes drilled and ore samples

examined, aimed to estimate assets structure and potential volume of reserves (uranium and concomitant minerals: copper,

silver, phosphorus and rare-earth elements).

In September 2015, Wardell Armstrong International (WAI), a well-known international independent appraisal company in mineral

resource projects and mining area, completed its audit report on the project under international (JORC) standards, stating that

inferred resources of uranium are estimated at 16.8 million lbs (or 20 million lbs in the U3O8 equivalent). In the opinion of WAI,

the Toulouk 2 & 4 licences have potentially significant uranium and possibly copper mineralization. In February 2016, WAI

issued Scoping Study, including prefeasibility analysis of the asset development.

In 2016, additional exploration works were performed to improve surface mineralization assessment. Furthermore, the in-situ leaching and

heap leaching production methods were being tested.

In 2017, the Group expects to obtain the new license type “Marginal deposit” with merger of both blocks – Toulouk-2 and Toulouk-4.

Country / Location

Republic of Niger

Type

of Project

Exploration

for uranium

Acreage

224.7 km2

231.8 km2

License

Area

Toulouk-2,

Toulouk-4

Expected

Resources

138.3 million lbs

(U3O8)

GPB GR

Government

(call option

up to 40%)

100%

60% 40%

Exploration

phase

GPB GR

Production

phase

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Net Assets ($ million) Net Profit ($ million)

Process optimization and cost saving strategies became the two underlying trends during another turbulent year in the global commodity markets.

Oil and gas project in Venezuela remained the main focus of GPB GR’s operations as we continued to sustain and improve financial performance of

JV Petrozamora S.A. We went on to further integration of offshore producing assets acquired in mid 2015. In spite of the general oil price

slump, this will enable us to secure substantional dividend cash flows in the upcoming years for the future diversification of the Group’s

business.

On the other hand, responding to the difficult economic times, we continue to reduce our costs and take tough (but balanced and prompt) decisions on

the projects we consider insufficiently competitive or affordable in present conditions. In late 2016, the Group had to reevaluate its share in the

green-field gold mining project in Mali since the prospects for further work were assessed as no longer meeting our risk profile.

Eventually, the combination of challenging investments and cost-cutting strategy along with risk avoidance and timely project exits provided stable

financial performance and a 41% net assets growth in 2016.

We will concentrate on more profitable pillars of our business to strengthen the basis for high returns to the shareholders. In the meantime, we are

constantly searching for opportunities to diversify our current portfolio with potential high-yield projects all over the globe.

2013 2014 2015 2012 2013 2014 2015

177.0 452.0 494.6 46.7 93.8 279.4 284.9

2012

47.6 199.3 697.6

2016 2016

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GPB Global Resources is committed to creating value through responsible performance, and protecting

environment and communities in the regions of operations

Nonprofit Foundation Nonprofit Foundation improves

living standards of local citizens

in Zulia state, Venezuela,

sponsoring reconstruction of Burro

Negro park, amateur children

soccer tournaments, music school

for children.

From 2015, outstanding musicians

were being awarded educational

trips to Russia and Europe

Donations GPB GR regularly donates to the

Russian charity fund “In the name of

life” supporting people with cystic

fibrosis.

Sponsorship In Monaco, the Company became

one of the leading sponsors

of the Year of Russia in Monaco.

The event encompassed numerous

art exhibitions and FIDE Women

Grand Prix 2015

Social Programs In Ethiopia, GPB GR completed

Community Development Program,

built 2 schools, irrigation canal and

provided variety of water supply

items, medical equipment and

education materials.

In Niger, GPB GR built 2 educational

centers (6 classes) for students from

local communities, purchased

equipped ambulances

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GPB Neftegaz Services B.V.

Moscow branch

Serebryanicheskaya

Naberezhnaya 29,

109028, Moscow, Russia

Telephone: +7 495 725 77 27

Fax: +7 495 725 77 47

E-mail: moscow@gpb-ngs.com

GPB Neftegaz Services B.V.

Maracaibo branch

Avenida 11 con esquina Calle 78

Dr. Portillo, Edificio Centro

Electrónico de Idiomas Piso 8.

Maracaibo, Estado Zulia

Telephone: +58 261 797 78 01

E-mail: maracaibo@gpb-ngs.com

GPB Global Resources B.V.

Dijsselhofplantsoen 14

1077 BL Amsterdam,

the Netherlands

Telephone: +31 20 570 32 00

Fax: +31 20 570 32 01

E-mail: amsterdam@gpb-gr.com

www.gpb-gr.com