Presentation by Stornoway at its AGM on May 16, 2016

1. Annual General Meeting
May 16, 2016, Montreal

2. Forward Looking Information
2
This presentation contains "forward-looking information" within the meaning of Canadian securities legislation. This information and these statements, referred to herein as “forward-looking statements”, are made as of the date of this presentation and the Corporation does
not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. These forward-looking statements include, among others, statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates
and intentions. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of Mineral Reserves, Mineral Resources and exploration
targets; (ii) the amount of future production over any period; (iii) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the March 2016 Updated Renard Mine Plan and Mineral Reserve
Estimate; (iv) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the 2016 Updated Renard Mine Plan and Mineral Reserve Estimate; (v) mine expansion potential and expected mine life; (vi) the expected time frames for the
completion of construction, start of mining and commercial production at the Renard Diamond Project and the financial obligations or costs incurred by Stornoway in connection with such mine development; (vii) the expected time frames for the completion of the open pit
and underground mine at the Renard Diamond Project; (viii) future market prices for rough diamonds; and (ix) future market prices for liquefied natural gas and diesel. All statements, other than statements of historical fact regarding Stornoway or the Renard Diamond Project,
are forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”,
“anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “schedule” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of
any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements are made based upon certain assumptions by Stornoway or its consultants and other important factors that, if untrue, could cause the actual results, performances or achievements of Stornoway to be materially different from future results,
performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business prospects and strategies and the environment in which Stornoway will operate in the future,
including the price of diamonds, anticipated costs and Stornoway’s ability to achieve its goals, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers its assumptions on such matters to
be reasonable based on information currently available to it, they may prove to be incorrect. Certain important assumptions by Stornoway or its consultants in making forward-looking statements include, but are not limited to: (i) required capital investment; (ii) the amount of
future production over any period; (iii) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the March 2016 Updated Renard Mine Plan and Mineral Reserve Estimate ; (iv) assumptions relating
to gross revenues, operating cash flow and other revenue metrics set out in the 2016 Updated Renard Mine Plan and Mineral Reserve Estimate ; (v) estimates of net present value; (vi) anticipated timelines for completion of construction, commencement of mine production
and development of an open pit and underground mine at the Renard Diamond Project, (vii) anticipated geological formations; (viii) Stornoway’s interpretation of the geological drill data collected and its potential impact on stated Mineral Resources, Mineral Reserves, and
mine life; and (ix) Stornoway’s ability to draw on the financing elements of the Renard Diamond Project Financing Transactions closed on July 8th, 2014.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future
experience. We caution readers not to place undue reliance on these forward- looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions
and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, including the assumption in many forward-looking statements that other forward-looking
statements will be correct, but specifically include, without limitation: (i) risks relating to variations in the grade, kimberlite lithologies and country rock content within the material identified as Mineral Resources from that predicted; (ii) variations in rates of recovery and
breakage; (iii) changes in development or mining plans due to changes in other factors or exploration results; (iv) slower increases in diamond valuations than assumed; (v) risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar; (vi)
increases in the costs of proposed capital and operating expenditures; (vii) increases in financing costs or adverse changes to the terms of available financing, if any; (viii) tax rates or royalties being greater than assumed; (ix) risks relating to the receipt of regulatory approvals;
and (x) the additional risks described in Stornoway's most recently filed Annual Information Form, annual and interim MD&A and Stornoway's anticipation of and success in managing the foregoing risks. Stornoway cautions that the foregoing list of factors that may affect future
results is not exhaustive, and new, unforeseeable risks may arise from time to time.
Readers are referred to the technical report dated as of March 30, 2016 entitled “Updated Renard Diamond Project Mine Plan and Mineral Reserve Estimate, Québec, Canada” in respect of the March 2016 Updated Mine Plan and Mineral Reserve Estimate, and the technical
report dated January 11, 2016 and press release dated September 24, 2015 in respect of the September 2015 Mineral Resource estimate for further details and assumptions relating to the project.
The Qualified Persons that prepared the technical reports and press releases that form the basis for the presentation are listed in the Company’s AIF dated March 30, 2016. Disclosure of a scientific or technical nature in this presentation was prepared under the supervision of
Patrick Godin, P.Eng. (Québec), Chief Operating Officer and Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration, both “qualified persons” under NI 43-101. Darrell Farrow, PrSciNat, P.Geo.(BC), Ordre des geologues du Quebec (Special Authorisation # 332) of GeoStrat
Consulting Services Inc. is the independent Qualified Person responsible for preparation of the mineral resource estimate for the Renard Diamond Project. GeoStrat Consulting Services Inc, a mineral resources consultancy, focuses on client interaction and involvement in
developing resource models, and has experience in exploration, geological modeling, resource evaluation, production, resource reconciliation and accounting of diamond deposits around the globe. GeoStrat has verified the results disclosed herein with respect to the mineral
resources, and has conducted appropriate verification on the underlying data, including visitations to the Renard site and the primary process laboratories.

3. From the 2015 AGM
3
43
Renard: Québec’s Next Major Mine
Fourteen years in the making
Diamonds
Demand underpinned by gifting traditions that
are universal, aspirational and cross-cultural…
…but mined: supply is limited and finite
Stornoway
Focus on budget, schedule, operating
excellence, cash flow
Stornoway Diamond Corporation (TSX: SWY)
Our Priorities
www.stornowaydiamonds.com

4. Year in Review
Matt Manson, President & CEO, Director
4

5. A Year of Solid Project Execution
5
Renard Project construction beating schedule & budget
92% complete at end of April, compared to the (initial)
plan of 77%.
5 month improvement on forecast date of commercial
production, to Dec 31, 2016.
C$775m forecast cost to completion, compared to a plan
of C$811m.
Forecasting excess financing capacity to complete the
project of approximately C$116m as of March, 31 2016.
Forecasting first diamond production end September.

6. KPIs
As of Quarter ended March 31, 2016
6
Environment, Health and Safety
LTIFR of 0.2 for SWY Employees and 1.5 for Contractors
based on 192,321 man hours. 1 environmental non-
compliance for SWY, 1 for contractors, project to date.
Mining
7,504,923 tonnes mined from R2, R3 and R65 open pits
compared to a plan of 7,376,351 tonnes (102%). 194,416
tonnes of ore on stockpile compared to a plan of 207,799
tonnes (94%).
1,218m of ramp development compared to a plan of
1,643m (74%).
First Production Guidance
March 30, 2016 Updated Mine Plan
Diamond Production
0.22 Mcarats in FY2016 and 1.71 Mcarats in FY2017
Diamond Sales
1.36 Mcarats in FY2017

7. Capital Structure & Balance Sheet
7
Balance Sheet(2)
Cash and Equivalents $219 million
Total Debt $255 million
Undrawn Financing Commitments(3) $109 million
Major Shareholders
Investissement Québec, Orion Mine Finance, CDPQ,
Blackstone, Franklin Templeton, Boston Partners, Letko
Brosseau, FTQ, Platinum Partners, ASA
1. As of May 10, 2016.
2. As of March 31, 2016. Unaudited
3. Assuming a C$:US$ conversion rate of C$1.10. Does not include $48 million Cost Overrun Facility.
4. Fully Diluted
Capital Structure
Recent Share Price (TSX)(1) $1.00
52 week range $0.65 – $1.08
Market Capitalization(1) $765 million
Shares Outstanding 736.5 million
Warrants 119.1 million
Employee Options 31.7 million
50.2%
38.5%
11.3%
Project Finance
Sponsors
Institutional Retail and Insiders
Share Ownership(4)

8. Stock Performance
12 Month Performance of Peer Diamond Equities
8
50
100
150
200
250
300
350
Indexto2009=100
US$ May
2011
Renard Sample Valuation Assessments
March
2013
March
2014
C$
March
2016
Diamond Price Performance
WWW Rough Diamond Price Index, 2004-2016 (RoughPrices.com)
-80%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
SWY LUC MPV DDC FDI GEMD PDL
SWY

9. Publicly Listed Diamond Producers, Developers and Explorers
Consensus Analyst Views on Value
Ticker
Price
(10/5/16)
Shares
O/S (mm)
Market
Cap($mm)
NAV/sh(1) Current
P/NAV(1) Target (1) % Return to
Target
Annual
Dividend
Diamond Producers
ALROSA ALRS:M ₽72.50 7,365.0 ₽533,960 (n/a) (n/a) ₽83.32 17% ₽1.47/sh
Dominion Diamonds DDC:T $14.01 85.1 $1,192.7 $25.24 0.6x $23.24 70% US$0.40/sh
Gem GEMD:LN £1.40 138.3 £193.2 £1.97 0.7x £1.67 22% US$0.05/sh
Lucara LUC:T $3.97 380.8 $1,511.9 $3.17 1.3x $3.62 -7% $0.06/sh
Petra PDL:LN £1.11 512.1 £568.4 £1.71 0.6x £1.47 34% £0.02/sh
Diamond Developers
Firestone FDI:LN £0.30 309.0 £92.7 £0.48 0.6x £0.41 35% (n/a)
Mountain Province MPV:T $5.10 159.7 $814.3 $6.77 0.8x $6.42 26% (n/a)
Stornoway SWY:T $1.00 736.6 $736.6 $1.41 0.7x $1.35 35% (n/a)
Diamond Explorers
Kennady Diamonds KDI:V $3.69 46.3 $170.7 (n/a) (n/a) (n/a) (n/a) (n/a)
North Arrow Minerals NAR:V $0.145 54.0 $7.8 (n/a) (n/a) (n/a) (n/a) (n/a)
Peregrine Diamonds PGD:T $0.18 339.1 $61.0 (n/a) (n/a) (n/a) (n/a) (n/a)
Shore Gold SGF:T $0.195 248.7 $48.5 (n/a) (n/a) (n/a) (n/a) (n/a)
1. Bloomberg and Thomson One Analyst Consensus. All Currencies in C$ unless specified

10. Updated Mine Plan
Mineral Reserve Case Only, March 30, 2016
10
Notes
1. Estimated average price per carat of the Mineral Reserve in Renards 2, 3, 4 & 65 expressed in March 2016 terms.
2. Expressed in nominal terms, and excluding Renard Mine Road capital of $69.4 million. Initial Capital Cost in the January 2013 Optimization Study was estimated at $793 million based on $752 million of cost and contingency plus $41 million escalation allowance. In April
2014, prior to the commencement of construction, Initial Capital was estimated at $811 million based on $754 million of cost and contingency plus $57 million of escalation. The estimate of $775 million of Initial Capital in the March 2016 Updated Mine Plan includes all
costs, contingencies and escalation allowances and represents a reduction of $36 million on the April 2014 estimate.
3. Expressed in real terms.
4. Expressed in real terms. Assumes a 2.5% escalation in diamond prices between 2016 and 2017 and a US$ exchange rate of C$1.35
5. Net of all royalties, costs incurred under the Mecheshoo Agreement (IBA) and the effective revenue impairment associated with the Renard diamond streaming agreement. For further information see the Stornoway AIF dated March 30, 2016.
6. After tax.
Reserve and Resource categories are
compliant with the "CIM Definition
Standards on Mineral Resources and
Reserves". Mineral resources that are not
mineral reserves do not have
demonstrated economic viability. The
potential quantity and grade of any
Exploration Target (previously referred to
as a “Potential Mineral Deposit”) is
conceptual in nature, and it is uncertain if
further exploration will result in the
target being delineated as a mineral
resource.
30 Mcarat Indicated Mineral Resource
13 Mcarat Inferred Mineral Resource
33-71 Mcarat TFFE
Mineral Resource Estimate Effective
September 24, 2015 (NI 43-101)
Renard 65
Renard 9
Renard 4
Renard 3Renard 2Reserve Carats (M) 22.3
Processing Rate (Mtonnes/annum) 2.2 to 2.5
Mine Life (years) 14
Average Diamond Production Years 1-10 (Mcarats) 1.8
Average Diamond Price (US$/carat)1 $155
Initial Cap-ex (C$M)2 $775
LOM Cap-ex (C$M)2 $1,045
LOM Op-ex (C$/tonne)3 $56.20
LOM Op-ex (C$/carat)3 $84.37
Gross Revenue (C$M)4 $5,565
Net Revenue (C$M)5 $4,555
Cash Operating Margin (C$M)5,6 $2,677 or 59%
NPV7% (C$M, unlevered, effective Jan.1, 2016)5,6 $974
Plant Commissioning Commences Oct. 1 2016
Commercial Production Declared Dec. 31 2016

11. Updated Mine Plan
Compared to the January 2013 Optimization Study
Increased Reserves; Longer Mine Life
24% increase in Probable Mineral Reserves to 22.3 Mcarats (33.4 Mt at 67 cpht);
Increase in Mineral Reserve based mine life to 14 years
Increased Average Diamond Production; Increased Early Diamond Production
Average diamond production in Years 1 to 10 1.8 Mcarats/a compared to 1.6 Mcarats/a previously
Guidance of 1.9 Mcarats produced and 1.4 Mcarats sold by end 2017, increases of 24% and 57% resp.
Processing Expansion
Scheduled increase in processing rate from 2.2 Mt/a (6,000 tpd) to 2.5 Mt/a (7,000 tpd) starting in 2018.
Updated Op-ex Estimate based on First Year’s Operating Data
LOM average operating costs of $56.20/tonne, or $84.37/carat.
Updated Project Valuation, After-Stream, Spot Diamond Price, Spot F/X
Real terms cash operating margin of 59% ($120 per carat), after royalties, taxes and stream.
Unlevered, stream affected, after tax NPV (7%) of $974 million (real terms, as of January 1st 2016)
11

12. Production Profile
Mineral Reserve Case Only, March 30, 2016
12
0
1,000,000
2,000,000
3,000,000
4,000,000
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Tonnes
UG R3
UG R4
UG R2
OP R65
OP R2/R3
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Carats
R65
R4
R3
CRB
CRB2A
R2
$0
$200
$400
$600
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Gross Revenue
(C$ millions)
Renard 65
Renard 4
Renard 3
Renard 2

13. Life of Mine Revenue
From Jan 2013 Optimization Study to March 2016 Updated Mine Plan
$5.000
$4.500
$4.000
$3.500
$3.000
$2.500
$2.000
$1.500
$1.000
$500
$0
$800
$773
$260
$574
$1,255 $4,555
Net Revenue (C$ millions)
Updated Mine
Plan Mar 2016
OS Jan 2013 Stream
Impact
Spot Diamond
Pricing
Addition
of R65
Addition of R2
to 710m Depth
Exchange Rate
$4,069
Note: Revenue is net of royalties, marketing costs, and (for the March 2016 Updated Mine Plan) the July 2014 Renard Streaming Agreement

14. Capital Cost Estimate Waterfall
From November 2011 Feasibility Study to March 2016 Updated Mine Plan
14
$1,045.0
$2.9
$994.4
$18.5
$35.0
$500
$600
$700
$800
$900
$1,000
$1,100
FS Nov 2011 OS Jan 2013 LNG FS Oct 2013 Updated Mine Plan
Mar 2016
Current Mar 2016
Renard LOM Capex (C$ millions)
Including Contingencies and Escalation
$775.4
$61.9
$35.6
$859.1
$1.9
$11.9
$500
$550
$600
$650
$700
$750
$800
$850
$900
FS Nov 2011 OS Jan 2013 LNG FS Oct 2013 Execution Plan
Apr 2014
Updated Mine
Plan Mar 2016
Current Mar 2016
Renard Initial Capex (C $millions)
Including Contingencies and Escalation
11 Year Mine Life 14 Year Mine Life
Note: Expressed in December 2015 nominal terms and excluding Renard Mine Road capital of $69.4 million. Totals may not add up due to rounding.

15. Note: Expressed in real terms. Payables and cash as of December 31, 2015 are included in
2016 Net FCF
Financial Analysis
Net Free Cash Flow, After-Tax, After-Steam (C$ million)
15

16. Construction Report
Patrick Godin, COO, Director
16

17. Renard Project Site
April 2016
17
R2 & R3 PitCrusher
UG Mine Portal
R65 Pit Power Plant
Process Plant
Maintenance Shop
Admin/Dry
Accommodation

18. Health, Safety, Environment, and Stornoway’s Team
SWY employees: 0.24 (1 incident in 817,550 hours worked)
Contractors: 1.54 (15 incidents in 1,946,300 hours worked)
Engineering: 0.00 (0 incidents in 278,495 hours worked)
Renard Total: 1.05 (16 incidents in 3,042,345 hours worked)
Québec Construction Industry: 0.9
Québec Mining Industry: 1.0
18
“The Courage to Care”
On Personal Safety; On the Safety of our Colleagues; On the
Environment; With our Inter-Cultural Workforce
Lost Time Injury Rate (to the end of April)
Route 167: 2 incidents of non-compliance project-to-date (wetland, remediated)
Renard Project Site: 0 incidents of non-compliance project-to-date
Environment

19. Construction Sequence
19
R2-R3
R65
Camp
Process
Plant
Portal
2H 2H 2H 2H1H 1H 1H1H
2013 2014 2015 2016
All in parallel with open pit and
underground mining activities
1. Construct Access: Road and Airport
3. Enclose Major Facilities (“Outside-In”)
2. Build Camp and Mine Office/Dry
4. Equip Major Facilities. POV
5. Commence Operations

20. Construction Progress to April 30, 2016
20

21. Major Facilities
Accommodation, Mine Dry/Admin, Maintenance Facility Completed Ahead of Schedule by September 2015
21

22. Power Plant
The First LNG fueled Power Plant in the Canadian Mining Industry
22

23. Processed Kimberlite Containment
Dry Stacking Processed Kimberlite
23
Processed Kimberlite
Containment (PKC) Ditch
Starter Berm
Foundation
Drains
Centrifuges in process plant de-water processed
kimberlite (PK)…
Primary Crusher, process Plant and PK Loadout connected by
covered conveyors
producing a cake for re-handling.
PK cake is loaded out… as a truckable product… and sent to PKC facility with progressive reclamation.

24. Water Management
Collecting and Treating 100% of Site Surface Precipitation
24
PKC
Waste Rock
Overburden
UG Mine Portal
Process Plant
Mine Waste Water Treatment
Plant
Collection Trench
Pumping Station
Camp Waste Water
Treatment Plant

25. Process Plant
World’s First Diamond Plant with LDR in Primary Flow Sheet
25
Nameplate capacity of 6,000 tpd (2.16 Mt/a) based on
78% plant utilization.
Expansion to 7000 tpd (2.52 MT/a) is scheduled for 2018
based on 83.5% utilization and +2% throughput.
Flow sheet:
Primary jaw crushing to < 230mm
Twin DMS circuits at +1mm -19mm
LDR circuit at +19mm -45mm, scalable to -60mm
Oversize +45mm to secondary cone crusher
LDR and DMS tails +6mm -19mm to tertiary High Pressure
Grinding Rolls
Centrifugal de-watering of fines and tails for truckable dry-
stack disposal.
Large Diamond Recovery (“LDR”) through TOMRA XRT.

26. Ramp-Up Schedule
26
35,154
82,005
108,000
126,000
135,000
145,801
162,000
171,000
180,000 180,000 180,000
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
M10-2016
M11-2016
M12-2016
M1-2017
M2-2017
M3-2017
M4-2017
M5-2017
M6-2017
M7-2017
M8-2017
MILLFEED(T)
100% Nameplate
Capacity
Commercial Production
60% Nameplate Capacity for 30 days

27. RENARD 65
RENARD 4
RENARD 9
RENARD 2
RENARD 3
RETURN AIR
RAISE FRESH AIR
RAISE
PORTAL
BACKFILL RAISES IN
CROWN PILLAR
410L
270L
710L
590L
470L
290L
400L
250L
860L
VENTILATION
RAISE
MAIN
RAMP
Underground Mining Sequence
Mineral Reserve Case Only, March 30, 2016
Combined open pit and underground mining
2015-2018 Open pit R2, R3
2014-2029 Open pit R65
2018-2027 Underground R2, blasthole shrink stoppage with panel
retreat
2026-2029 Underground R3, R4, longhole stoping and blasthole
stoppage respectively
27
1
4
2
3
6
5
R3 OPEN PIT
R2 OPEN PITR65 OPEN PIT
Reserve and Resource categories are compliant with
the "CIM Definition Standards on Mineral Resources
and Reserves". Mineral resources that are not mineral
reserves do not have demonstrated economic
viability. The potential quantity and grade of any
Exploration Target (previously referred to as a
“Potential Mineral Deposit”) is conceptual in nature,
and it is uncertain if further exploration will result in
the target being delineated as a mineral resource.

28. Underground Mining Sequence
Business Case, Including Inferred Mineral Resources, March 30, 2016
Extension of UG at Renard 2 to 860L (stope 5)
Deferral of UG at Renard 3 (stope 6) and its extension to 400L (stope 7)
Deferral of UG at Renard 4 (stope 8) and its extension to 410L (stope 9)
New UG at Renard 9 to 410L (stopes 10 and 11)
Does not include non-resource exploration upside. All pipes open at
depth.
Does not include mining of Inferred Mineral Resources at Renard 65
below open pit pending confirmation of Renard 65 ROM $/carat.
28
7
9
10
11
R3 OPEN PIT
R2 OPEN PITR65 OPEN PIT
RETURN AIR
RAISE FRESH AIR
RAISE
PORTAL
BACKFILL RAISES IN
CROWN PILLAR
410L
270L
710L
590L
470L
290L
400L
250L
860L
VENTILATION
RAISE
MAIN
RAMP
5
1
4
2
3
8
6
Reserve and Resource categories are compliant with
the "CIM Definition Standards on Mineral Resources
and Reserves". Mineral resources that are not mineral
reserves do not have demonstrated economic
viability. The potential quantity and grade of any
Exploration Target (previously referred to as a
“Potential Mineral Deposit”) is conceptual in nature,
and it is uncertain if further exploration will result in
the target being delineated as a mineral resource.
RENARD 65
RENARD 4
RENARD 9
RENARD 2
RENARD 3

29. Open Pit Mining
29
KPIs to March 31, 2016
Actual Plan %
Tonnes Mined, R2-R3/R65 7,504,923 7,376,351 102%
Tonnes Ore Stockpiled 194,416 207,799 94%
Renard 65 Pit (2014-2029)
14.0 Mtonnes moved, 1.38 Mcarats (4.58 Mtonnes at 30cpht)
Stripping ratio (Waste to Ore): 2.11, Depth 155m
March 2018 End 2018 End 2019 End 2021 End 2024 End 2027
March 2016 October 2016 Dec. 2016 August 2017 Dec. 2017 April 2018
Renard 2-3 Pit (2015-2018)
15.5 Mtonnes moved, 2.58 Mcarats (4.33 Mtonnes at 59cpht)
Stripping ratio (Waste to Ore): 2.54, Depth 130m

30. Underground Mine Ramp Development
30
KPIs to March 31, 2016
Actual Plan %
Ramp Development (m) 1,218 1,643 74%

31. Underground Mine Ramp Development

32. Contracting
Where we are Spending the Money: 2015 Data
32
Quebec, $324M
Ontario,
$43M
USA, $23M
South Africa,
$6M
Other,
$4M
C$400 million of
expenses incurred at
Renard in 2015
C$324 million of
expenses incurred
in Québec in 2015
Mistissini and
Eeyou Istchee,
$64M
Chiboug.
& Chapais,
$31M
Abitibi-
Temiscamingue,
$53M
Other, $39M
Chaudiere
Appalaches,
$28M
Bas St-
Laurent,
$21M
Montreal-
Laval, $74M
Saguenay Lac
St-Jean, $14M
Contractors at Mine Site in 2015
Construction Talbon Matoush-Grimard Groupe Promec
Manseau & Perron inc MY Surveying Equ. Pétrolier Lac St-Jean
Sakhiikan Consortium Kesi Construction Construction Proco
Eskan Company RCM Habitation Modulaire Air Creebec
Jos Ste-Croix Swallow-Fournier inc Petronor
Kiskinshiish Camp Services Tessier Ltée Dyno Nobel Canada
Communications Telesignal Propane Nord-Ouest Groupe Robert
Structures GB Ltée Prevost et Frères Mabarex
H2O Innovation Nordic Structures Bois Hewitt
Anixter Canada Recyclage Ungava Corner Cast
Plomberie Chibougamau Sanivac Réseau Revetement RHR
Crevier Chiiwetin Industrie Blais Groupe Industriel Premium
Convoyeur Continental ASDR Environnement Mansour Mining Techno.
Installations AC Washeyaabiin Const. PAR Tanguay (WEC)
Industrie Fournier Biron SNC-Lavalin
Yves Lacombe Pétrole MJ Golder
Lafleur Portes de Garage Moreau Électrique BBA
Protection Incendie Viking Moteur du cuivre/DLB Metallisation du Nord

33. Monthly Manpower at Site to April 30, 2016
Stornoway Employees and Contractors at Renard
33

34. 34
Origin of Renard’s Workforce
Targeting Local Hiring: Stornoway Employees at Mine Site, April 30, 2016 Data
11
19
27
40
41
49
8
19
58
5
43
0 10 20 30 40 50 60
Other Communities (CA)
Other Communities (QC)
Quebec
Saguenay Lac-St-Jean
Montreal
Abitibi-Témiscamingue
Other Communities NQ
Chapais
Chibougamau
Other Cree Communities
Mistissini
42%
Northern
Quebec
55%
Other
Quebec
3%
Other
Canada

35. 82%
14%
1%
1% 2%
April 2016 (395 employees)
75%
20%
1%
2% 2%
Sept. 2015 (290 employees)
RENARD LONGUEUIL CHIB/MIST TORONTO VANCOUVER
35
Growing a Company
Stornoway Payroll, September 2014 to April 2016
34%
44%
6%
7%
9%
Sept. 2014 (68 employees)

36. Targeted Contracting for Small and Local Suppliers
Stornoway emphasises local hiring and procurement, with contracts
tailored for local businesses.
Stornoway prioritizes, wherever possible, hiring and contracting in the
Cree communities of Eeyou Itschee, particularly Mistissini, and with the
families of Sydney Swallow (Kiskinshiish Camp Services) and Emerson
Swallow (Swallow-Fournier), Tallymen for the Renard area.
In 2015 Stornoway purchased $95 million in goods and services from
Mistissini, Chibougamau and Chapais, and estimates $8 million in payroll
added to the local economy.
36
169
134
50
Numbers of Contracts for Goods and Services in Québec
2015 Data
10-99K$ 100-999K$ 1M$+

37. Communities
Stornoway is committed to fostering a positive relationship with its communities.
37
In addition to employment and business development
opportunities, Stornoway aims to foster educational and
training development in youth, respect for traditional
activities, two-way communication with community
representatives on project impacts, and support for local
charitable organisations.
Stornoway undertakes regular communication with our
employees at site, and communicates more formally
through community committees such as the Renard
Committee, the Environment Committee, the Training &
Employment Committee, and the Comité de Liaison Renard.
Our annual Sustainable Development Report is delivered to
each household in the region.
Stornoway’s commitments are laid out in our 2012
Mecheshoo Agreement with the Cree Nation of Mistissini
and the Grand Council of the Crees (EI), and our 2012
Declaration of Partnership with Chibougamau and Chapais.

38. Community Engagements
38
Centraide/SWY Golf Tournament
Mistissini Open Door Mining Matters activity day
Cree Youth at Quebec Mines ExpoCree Training Programs
Cree Career Fair Site Visits
On-site Cultural Activities

39. Looking Forward
Matt Manson, President & CEO, Director
39

40. Areas of Focus
40
Finality (it’s not over until it’s over)
Mining: now on the critical path
Stakeholder expectations
Full resource reconciliation
Employment market: Lack of trained miners
Opportunities
Construction pace and performance
Operating environment
Large Diamonds
Renard Resource Upside
Growth: Exploration and M&A

41. 0
20
40
60
80
100
120
140
160
180
Resource Growth at Renard
41
0
50
100
150
200
2004 2006 2008 2009 2011 2013 2015
MillionsofTonnes
Resource Growth,
2004-2015
0m
100m
200m
400m
900m
700m
500m
300m
800m
600m
1100m
1200m
1000m
Mine Plan: 14 years of
mining on 22mcarat
Mineral Reserve
(33mtonnes)
Permitting and Long Term Plan
The Vision: Deposit
still Open
Millions of
Tonnes
Grades illustrated are for Indicated and Inferred Mineral Resources respectively at a +1DTC sieve size cut-off.
Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and
Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The
potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral
Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being
delineated as a mineral resource.
30 Mcarat Indicated Mineral Resource
13 Mcarat Inferred Mineral Resource
33-71 Mcarat TFFE
Mineral Resource Estimate Effective
September 24, 2015 (NI 43-101)
Renard 65
24/29cpht
Renard 9
53cpht
Renard 4
61/52cpht
Renard 3
102/112cpht
Renard 2
84/59cpht
TFFE High Range
Inferred Mineral Resource
TFFE Low Range
Indicated Mineral Resource
Conceptual
R7
R1 R65
R4 R9
R2
R3
R10

42. Resource Reconciliation
Step 1: Reconcile actual pipe
geology with geological model
(Successful example from Renard
3 on 490m level shown opposite)
Step 2: Reconcile grade (to come
upon processing start-up)
Step 3: Reconcile size
distribution and plant recovery
characteristics (to come upon
processing start-up)
Step 4: Reconcile quality
assortment and value (to come
upon sorting and sale)
42
Renard 3: Level 490 Mine Geology
Kimb3i
Kimb3f
Kimb3dg
Kimb3b
Kimb3h
CRB
Kimb3c
Thin lines are the 2015 geological model
Thick lines are actual mine geology
Renard 3:
Level 490
Mine Geology
Renard 2
Renard 3

43. Large Diamonds at Renard
The Renard Diamond Process Plant will be the first plant
in the world to have LDR capacity in the primary flow
sheet.
Large Diamond Recovery (“LDR”) through TOMRA XRT.
High Quality Production with Large Stone Potential
Distribution in Renard 2 predicts three to six 50-100ct stones
and one to two +100ct stones every 100,000 carats.
Base Case Diamond Valuation Estimates Using on Best
Practice Methodology
Average diamond price estimate in March 2016 for the
Mineral Reserves at US$155/ct (un-escalated).
Substantial revenue potential from large diamonds not
accounted for in the base case cash-flow model.
43
1000T storage bin
with overflow to stockpileRe-load hopper
HPGR
Cone
crusher
Scrubber and
screening
Process office
and MCC’s
DMSPK mixer
Centrifuge
Air compressors
Thickening
Wet
screening
Cold storage
Dry
screening
Process
Water

44. Diamond Sales
Stornoway will sell 100% of the Renard diamond
production by tender sale in Antwerp on an
undivided basis.
Stornoway has engaged well known diamond
industry broker and rough distributor Bonas-Couzyn
as sales commissionaire and tender agent for arm's
length market sales.
Other than under exceptional circumstances,
Stornoway will sell 100% of what it produces, will not
carry a stockpile outside of normal goods-in-progress,
and will be a market price taker.
Stornoway will support the Québec or Canadian
brand identification initiatives of its clients through
chain of custody certification.
First sales are expected in January 2017.
44

45. Exploration & Adamantin
Stornoway maintains an active diamond
exploration team and conducts 100%
owned generative programs.
Recent drilling at Adamantin Project
returned kimberlite in 18 of 78 holes
testing 72 geophysical targets interpreted
as 11 discrete kimberlite bodies.
Intersections of undiluted (100%) HK up
to 13.7m and mixed HK/country rock up
to 22.9m.
AD50/51/52 interpreted as one body
dipping 5-10 degrees with a true
thickness of 10m, over a 260m strike
extent, open, 6-12m below surface
(illustrated).
Sampled for diamond content. One
diamond recovered in till in 2015
sampling.
45
AD-50
AD-51
AD-52
AD-52-03
AD-52-01
AD-52-02
SW NE
6-8 m
from surface
9.8 m
AD-50-01
AD-50-02
9-10 m
from surface
9.8 m
SW NE
AD-50
AD-51
AD-52
AD-50 AD-52

46. 12 Month Outlook and Priorities
A Safe and Protected Workplace and
Environment
Project Completion on Budget and Schedule
Resource Reconciliation
First Québec Diamond Sales January 2017
Achieving March 2016 Mine Plan Guidance
0.22 Mcarats Produced in FY2016 and
1.71 Mcarats in FY2017
1.36 Mcarats Sold in FY2017
Operating and Sustaining Capital Costs
Maintain Balance Sheet Strength
46

47. Merci, Thank You, Meegwetch
Questions