Marenica Energy Limited

2015 CEO Presentation to AGM

Growing the Company using the Disruptive U-pgradeTM Process

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Disclaimer

Disclaimer

This presentation has been prepared by Marenica Energy Limited (MEY) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in MEY. No agreement to subscribe for securities in MEY will be entered into on the basis of this presentation. This presentation may contain certain forward-looking statements which have not been based solely on historical facts but rather on MEY's current expectations about future events and a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of MEY and its directors, officers and advisers. Due care and attention has been taken in the preparation of this presentation. However, the information contained in this presentation including financial information and estimates (other than as specifically stated) has not been independently verified for MEY or its directors and officers.

The information in this presentation which relates to Mineral Resources is based upon information compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Ian Glacken is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ian Glacken consents to the inclusion in the report of a summary based upon his information in the form and context in which it appears.

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This Year's Achievements

 Introduced new strategic investor to support the company

 Successfully completed first stage testwork on Wiluna ore

• Positive results indicate increased applicability of U-pgradeTM

 Continued to improve design of the Pilot plant, reducing cost and broadening applicability

 Positive progress being achieved in relation to funding package with Australian Government

 In discussion with other resource owners to undertake testwork

 Moving towards commercial agreements in 2016

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Company Strategy

 Continue to engage with resource owners to demonstrate outstanding potential to add value to their existing resources

 Build on a strong process technology platform by adding variations to U-pgradeTM that

 improve efficiency of the process further,

 increase applicability to commodities other than Uranium, and

 de-risks the potential

 Progress commercialisation discussions so that Marenica gains its fair share of the value add unlocked by U-pgradeTM

 Develop options to recapitalise the Company, raising funds to build the Pilot Plant and repay the Convertible Note

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