ACN. 000 317 251

MARKET RELEASE 30 November 2015

PRESENTATION FOR PROPOSED RIGHTS ISSUE

Following is a copy of the Presentation being provided to potential investors today for the upcoming Rights Issue.

Yours faithfully

B Bamonte

Company Secretary

Unit 34, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215 Phone: +617 5503 1955 Facsimile: +617 5503 0288

Email: [email protected]

CuDECO LIMITED

Australia's next copper exporter

REVISED RIGHTS ISSUE - INVESTOR PRESENTATION

November 2015

Disclaimer

The information in this presentation has been prepared by CuDeco Limited (CuDeco) and consists of written materials/slides in relation to the non-renounceable Revised Rights Issue (Rights Issue) announced to the market on 25th November 2015.By reviewing/attending this presentation, you agree to be bound by the following conditions:

This presentation and the information contained herein is not a recommendation, offer or invitation by any person to sell or apply for securities in CuDeco in any jurisdiction and none of this presentation document or its contents shall form the basis of any contract or commitment.

This presentation is not a disclosure document under Australian law or under any other law. Accordingly, this document neither

purports to be exhaustive nor contain all of the information which any reader or perspective investor may require to make an investment decision and it does not contain all of the information which would otherwise be required by Australian law or any other law to be disclosed in a prospectus.

Any decision by a person to apply for securities under the Rights Issue Offer should be made on the basis of information contained in the Prospectus including the risks of the Right Issue Offer disclosed therein and independent assessment as to whether to invest, and not in reliance of any information contained in this presentation.

This presentation has been prepared in good faith, and no representation or warranty, express or implied, is made as to the f airness, accuracy, or completeness of the information, contained in the presentation, or of the views, opinions and conclusions contained in this material.

To the maximum extent permitted by law, CuDeco and its related bodies corporate and affiliates, and their respective directors, officers, employees, agents and advisers

disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss or damage arising from any use of this material or its contents, including any error or omission therefrom, or otherwise arising in connection with it.

Some statements in this presentation are forward-looking statements. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new

projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as 'will', 'expect', 'anticipate', 'believe' and 'envisage'.

By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside CuDeco' control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors and activities by governmental authorities, such as changes in taxation or regulation.Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation.

Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, CuDeco does not undertake any obligation to publicly release any updates or revisions to any statements contained in this presentation, whether as a result of any change in CuDeco' expectations in rela tion to them, or any change in events, conditions or circumstances on which any such statement is based, which may arise after the date of this presentation.

Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified. All figures are expressed in Australian dollars unless stated otherwise.

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Nov 2015

Overview

In addition to the recently completed AUD$30 million equity investment by Rich Lead Investment Pte Limited at $0.80 per share…

CuDeco is seeking to raise a further $63 million from a 1 for 4 Non-Renounceable Rights Issue at an Issue Price of $0.80 per New Share

The funds will be used to:

• Fund capital expenditure (CAPEX) associated with construction of Rocklands' 3 million

  tonnes per annum Processing Plant;

  • Provide working capital/operating expenses (OPEX) through commissioning; and

    Shares on Issue	Approx. New Shares	Maximum total of shares
    315,422,167	78,855,542	394,277,709

    • Repay existing short-term debt. Effect on share register:

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