Forbes & Manhattan Coal Corp. is a growing coal producer in South Africa with two operating mines - the Magdalena mine producing bituminous coal and the Aviemore mine producing anthracite coal. The company has a large coal resource base of over 72 million tonnes of bituminous coal and over 50 million tonnes of anthracite coal. In fiscal year 2013, total saleable production was over 958,000 tonnes. The company aims to increase production to over 2 million tonnes per year. Forbes & Manhattan Coal Corp. provides South African and international customers with high quality thermal and energy coal.

1. A Forbes & Manhattan Group Company
Corporate Presentation
June 2013TSX/JSE : FMC
GROWING COAL PRODUCER IN SOUTHERN AFRICA

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Disclaimer
This presentation contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements
with respect to the development potential and timetable of the Magdelena and Aviemore projects; the Company’s ability to raise additional funds as necessary;
the future price of coal; the estimation of mineral resources; conclusions of economic evaluations (including scoping studies); the realization of mineral resource
estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures;
success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks.
Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are
based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated timing, amount and cost of
mining at the Company’s projects are based on assumptions underlying mineral resource estimates and the realization of such estimates; results of previous mining
activities at the projects, and detailed research and analysis completed by independent consultants and management of the Company; research and estimates
regarding the timing of delivery for long-lead items; and knowledge regarding certain factors described in the technical report filed under the profile of the
Company on SEDAR. Capital and operating cost estimates are based on results of previous mining activities, research of the Company and independent
consultants. Production estimates are based on mine plans and production schedules, which have been developed by the Company’s personnel and
independent consultants. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements,
including but not limited to risks related to: timing and availability of external financing on acceptable terms; unexpected events and delays during construction,
expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of government approvals; actual results of exploration and mining
activities; changes in project parameters as plans continue to be refined; future prices of coal; failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry. Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to
update any forward-looking statements except in accordance with applicable securities laws.
Investors are advised that National Instrument NI 43-101 of the Canadian Securities Administrators (“NI 43-101”) requires that each category of mineral reserves and
mineral resources be reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Johan Odendaal,
B.Sc.(Geol.), B.Sc.(Hons)(Min. Econ.), M.Sc. (Min. Eng.), a director of Minxcon and an independent Qualified Person, as defined in National Instrument 43-101 has
reviewed and approved the scientific and technical information contained in this presentation.
Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources
The information presented uses the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. “Inferred mineral
resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an
inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of
feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever
be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is
economically or legally mineable.

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Company Overview
Forbes & Manhattan Coal Corp.’s (FMC) vision is to build a high quality bituminous
and anthracite coal company with production capacity in excess of
10 million tonnes per year
Company Summary
Headquarters: Toronto, Ontario Total mineable coal
resource
(NI 43-101):
72.9 million tonnes Bituminous
(13.4 million tonnes inferred)
59.4 million tonnes Anthracite*
(17.8 million inferred)
Number of
mines:
2 (Magdalena
and Aviemore)
Historical annual saleable
production:
958,000 saleable tonnes in
fiscal 2013
Mine location: Kwa-zulu, Natal,
South Africa
1 year target production:
(fiscal 2014)
845,000 saleable tonnes
Bituminous - Magdalena
300,000 saleable tonnes
Anthracite – Aviemore
Production capacity: 2 million tonnes
* As set out in the Technical Report of the Company entitled “An Independent National Instrument 43-101 Technical Report on Forbes Coal Dundee
Operations, KwaZulu-Natal Province, South Africa”, dated October 1, 2012, prepared for the Company by Minxcon (the “Technical Report”). A copy of the
Technical Report is available under the profile of the Company on SEDAR at www.sedar.com.

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Location of Operations

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Mining Resource (Dundee)
NI 43 – 101 Global Resource1
Measured Indicated MI Inferred Yearly
ROM2 (t)
LOM
Magdalena
Bituminous
59.1 m - 59.1 m 13.4 m 1.3 mt + 20 years
Aviemore
Anthracite
1.5 m 40.1 m 41.6 m 17.8 m 0.5 mt + 20 years
1. Source: National Instrument 43 – 101 Report (Minxcon October 1, 2012) available under the profile of the Company on SEDAR at www.sedar.com.
2. As per management’s guidance for fiscal 2014

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Magdalena Bituminous Coal Operations

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Magdalena Bituminous Coal Operations
Location: • Dundee, Kwa-Zulu, Natal
Coal Type: • Bituminous
Resource: • 72.5 million tonnes1
(13.4 million tonnes inferred)
Acres: • 4,557
Average BTU: • 12,250 BTU/lb
• 6,800 kcal/kg
Ash: • 15.0%
Volatility: • 16.7%
Saleable
Production:
• 2011FY2: 556,000 tonnes
• 2012FY2: 748,000 tonnes
• 2013FY2: 703,000 tonnes3
Mine Life: • Approximately +20 years
Infrastructure: • Wash plant, processing plant and
siding
Asset Summary
1. Source: National Instrument 43 – 101 Report (Minxcon October 1, 2012) available under the profile of the Company on SEDAR at www.sedar.com.
2. Fiscal year-end February 28
3. Including bought in coal

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Magdalena Project Area & Mining Rights
* Source: National Instrument 43 – 101 Report available under the profile of the Company on SEDAR at www.sedar.com.

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Magdalena Bituminous Coal Production Profile
Drilling at Magdalena for potential opencast mine expansion has been
completed, Hilltop exploration drilling license has recently been granted.
Magdalena Saleable Bituminous Coal Production
(000 t)/February 28 year-end
* Source: National Instrument 43 – 101 Report available under the profile of the Company on SEDAR at www.sedar.com.
299
347 326
449 485 556
748 702
845
FY06A FY07A FY08A FY09A FY10A FY11A FY12A FY13A FY14E
Magdalena o/c Magdalena u/g

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Aviemore Anthracite Coal Operations

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Aviemore Anthracite Coal Operations
Location: • Dundee, Kwa-Zulu, Natal
Coal Type: • Anthracite
Resource:
• 50.8 million tonnes1
(15.1 million tonnes inferred)
Acres: • 13,818
Average BTU:
• 12,800 BTU/lb
• 7,100 kcal/kg
Ash: • 13.7%
Volatility: • 7.9%
Saleable
Production:
• 2011FY2: 92,000 tonnes
• 2012FY2: 176,000 tonnes
• 2013FY2: 255,000 tonnes
Mine Life: • Approximately +20 years
Infrastructure:
• Wash plant, processing plant and
siding
Asset Summary
1. Source: National Instrument 43 – 101 Report (Minxcon October 1, 2012) available under the profile of the Company on SEDAR at www.sedar.com.
2. Fiscal year-end February 28

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Aviemore Project Area & Mining Rights
* Source: National Instrument 43 – 101 Report available under the profile of the Company on SEDAR at www.sedar.com.

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Aviemore Anthracite Coal Production Profile
At Aviemore, a feasibility study for an expansion is underway. There is potential
for 1 million tonnes of ROM per annum.
Aviemore Anthracite Coal Saleable Production1
(000 t)/February 28 year-end
1. Source: National Instrument 43 – 101 Report available under the profile of the Company on SEDAR at www.sedar.com.
59 62 61
102
20
92
176
255
300
FY06A FY07A FY08A FY09A FY10A FY11A FY12A FY13A FY14E

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Results
Q1 2013
(March – May 2012 )
Q2 2013
(June – Aug’ 2012 )
Q3 2013
(Sept’ – Nov’ 2012 )
Q4 2013
(Dec’ – Feb’ 2013 )
Revenue $ 20.8 million $ 23.39 million $10.83 million $13.47 million
Gross Profit $ 1.81 million $ 2.35 million -$2.29 million -$0.93 million
Consolidated
EBITDA
$ 2.45 million $ 2.72 million -$3.39 million -$2.58 million
Q1 2013
(March – May 2012 )
Q2 2013
(June -Aug’ 2012)
Q3 2013
(Sept’ – Nov’2012)
Q4 2013
(Dec’ – Feb’2013)
Run of Mine
Production (t)
387,075 414,551 246,002 364,145
Saleable
Production1 (t)
244,605 256,583 152,013 214,044
Total Sales (t) 234,997 284,196 147,254 168,913
1. Excluding bought in coal of 89,739 for fiscal 2013

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• Good working relationship with its two
unions: National Union of Mineworkers
(NUM) and Amalgamated Mining &
Construction Union (AMCU)
• Labour contracts are negotiated on an
annual basis
• Recent labour disruption was settled
November 16, 2012 resulting in an
average wage increase of 14.8% and
extended working hours
• Implementing internationally recognized
safety, health, environmental and quality
management systems
• Adheres to the tenets of the Mining
Charter and promotes local
procurement and procurement from BEE
companies
• Committed to developing local
communities
Responsible Development

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Experienced Management Team
Stephan Theron, B.Comm, CGA │President and Chief Executive Officer
Extensive management, project finance and equity analysis experience in the mining, energy and infrastructure
sectors. Previous capital and project experience includes Weir PLC and AMEC PLC as well as former sector head
materials and energy with a specific focus on South African coal market.
Malcolm Campbell, Pr. Cert. Eng. (Mining) │Chief Operating Officer
Fourth generation coal miner with 25 years industry experience. Skilled in operational management, turnaround
strategies and business development. Spent 20 years with Anglo Coal; held a variety of positions including regional
manager for new business development and strategy.
Deb Battiston, CGA │Chief Financial Officer
Financial specialist with over 20 years experience in the mining sector.
Sarah Williams, CA │Vice President Finance
Chartered Accountant (SA) with nine years experience in the corporate finance industry and expertise in the resource
sector where she played key roles in company listings and IPOs, mergers and acquisitions, restructurings and debt and
equity capital raisings.
Kevern Mattison, NHD (Mining), B. Tech.│General Manager
More than 20 years operational coal mining experience and spent over 20 years with Anglo Coal, most recently as a
manager of mining.
Fanie Müller, B.Sc. Eng., M. Eng. │ Group Manager - Technical Support Service
A Professional Mining Engineer registered with the Engineering Council of South Africa. Project experience in
commodities ranging from coal, gold and diamonds to platinum and uranium. The foundation of his career in mining
was initiated at Anglo Coal. He joined Forbes Coal as the Group Technical Services Manager in 2010.

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Directors
Stephan Theron, B.Comm, CGA , │ President and CEO
Craig Wiggill, B.Sc. Eng. │ Chairman of the Board
Has held management, executive and directorship positions on several international mining companies in the coal sector
and, as CEO of Coal Americas at Anglo American plc. was responsible for all of that company’s coal activities in North and
South America. He was previously Managing Director of Anglo Coal Marketing Ltd from 2000 to 2004.
Stan Bharti, P.Eng. │ Director
Business consultant and a professional mining engineer with more than 25 years experience
President of Forbes & Manhattan, Inc., a private merchant focused on the resource sector, since July 2001.
John Dreyer, │ Director
Mr. Dreyer is a qualified South African lawyer, CEO of Tavistock Coal and executive director of Anglo American Platinum. He
served as chairman of ASX listed Firestone Energy until 2011. Mr. Dreyer currently serves on the board of ASX listed Cobar
Consolidated Resources where he also serves on the audit committee.
Bernard Wilson, │ Director
An advisor in corporate finance and investment banking. Notable leadership roles include serving as the Chairman of the
Canadian Chamber of Commerce (with 175,000 members), Chairman of the Canadian Council for International Business,
Chairman of the International Chamber of Commerce, as a member of the Canada/US Trade Committee and Chairman
Founders Board of the Institute of Corporate Directors.
Quinn Roussel, MBA, B.Sc . Mining Eng│ Director
Thomas Quinn Roussel is a Principal of Resource Capital Funds, a mining-focused private equity firm based out of Denver,
Colorado. Mr. Roussel has also worked as an engineer in both the mining and the oil & gas industries and currently serves on
the board of an Australian resource company, Finders Resources. He holds MBA degress from the University of South Carolina
and Wirtschafts Universitat-Wien and a B.S. in Mining Engineering from Colorado School of Mines.
Michael Price, B.Sc., Phd. │ Director
Thirty-five years experience in mining and mining finance. After working for BP Coal, BP Minerals and BP Exploration in various
mine management and business development roles Mr. Price moved into mining finance with NM Rothschild & Sons, Societe
Generale and Barclays Capital. Mr. Price is now a Non-Executive Director of several mining companies and he is an
independent adviser on mining finance as well as the London Representative of Resource Capital Fund.

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Investment Highlights
• Resource base of high quality bituminous and anthracite coal in one of the best developed
coal markets in the world
• Goal to triple organic production within three years from 2010 historic levels using existing
infrastructure and capacity
• Established infrastructure to reach export corridors and growing domestic market
• Delivering on goals to increase sales while lowering production costs, resulting in strong
EBITDA
• Experienced coal-focused management team

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Share Price Performance
Source: Google Finance; June 2013
Ticker Company Exchange YTD performance
FMC Forbes Coal TSX -26%
UNV Universal Coal ASX -38%
IKW Ikwezi Mining ASX -4%
CCC Continental Coal ASX -20%
CZA Coal of Africa ASX -20%
TSX JSE
Shares Outstanding 34.8 m
FD Shares Outstanding 39.5 m
Closing Price (May 31, 2013) C$0.56 R3.50
Trading Range (52 week) C$0.31 – $2.03 R3.10-R16
Market Capitalization (Basic) C$19.48 m R121.8m
Market Capitalization (FD) C$22.12 m R138.2m
Capitalization
FMC – listed on TSX and JSE

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Strategy and Business Plan
Magdalena
• Increasing productivity and production capacity through operational efficiency initiatives;
• Achieve saleable production of 845,000 for the year;
• Investigate regional possibilities for the relocation of the opencast at the end of the current extension;
• Generate pitroom for future mining expansion;
• Increase wash plant recovery rates from the current level of 62% by improved efficiencies of wash plant by
using density control;
• Investigate product upgrade potential.
Aviemore
• Achieve saleable production of 300,000 tonnes for the year;
• Progress exploration and feasibility study for the expansion of1 million ROM tonnes per year producer.
Improve operational efficiencies by:
• Further develop management team with international experience;
• Explore opportunities to increase sales and exports;

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New Opportunities
Where?
• Forbes Coal to stay focused on Southern Africa. Most of the coals in Southern Africa can be washed to
produce an acceptable export thermal product.
• Lack of both infrastructure and investment are the main reasons why production and exports remain
constrained.
• The countries that are viewed to have the best potential for coal projects are South Africa, Botswana,
Mozambique, Zimbabwe, Tanzania and Swaziland.
• Opportunities have already been reviewed in most of the Southern African countries
How?
• Acquisitions – currently reviewing
• Farm in options – currently reviewing one opportunity
• Licence applications
• Outright acquisitions preferable for operational assets and advanced projects
• Farm in options help mitigate against the risk of huge capital outlay. This is the preferred entry opportunity
for exploration projects
• Licence applications will only work in countries with robust and transparent licence frameworks (e.g
Botswana, Mozambique)

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Appendix

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Current Company Structure
Forbes Coal Ownership Structure
Forbes Coal (Proprietary) Limited
(South Africa)
Zinoju Coal (Proprietary) Limited
(South Africa)
Aviemore
Anthracite Coal
Magdalena
Bituminous Coal
70%
100% 100%
30%
Corondale Prospecting and
Mining (Proprietary) Limited
Dormant Company 100%
Forbes and Manhattan Coal Corp.
(Ontario, TSX/JSE Listed)
BEE
(Nulane)
100%
Bowwood and Main 33 (Pty) Ltd
(South Africa)
100%

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Production – ROM - Quarter
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
QuarterlyROMtonnes
ROM tonnes
ROM Magdalena ROM Aviemore

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Production - Saleable - Quarter
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Quarterlysaleabletonnes
Saleable tonnes
Saleable Magdalena Saleable Aviemore Bought in Coal

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Sales tonnes – Quarter (Operations)
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
FY11Q1FY11Q2FY11Q3FY11Q4 FY12Q1FY12Q2FY12Q3FY12Q4 FY13Q1FY13Q2FY13Q3FY13Q4
Quarterlysalestonnes
Sales tonnes
Sales Magdalena Sale Aviemore

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Revenue and Sales Tons (CAD$)
-
50
100
150
200
250
300
350
400
0
5
10
15
20
25
30
35
40
FY11Q1 FY11Q2 FY11Q3 FY11Q4 FY12Q1 FY12Q2 FY12Q3 FY12Q4 FY13Q1 FY13Q2 FY13Q3 FY13Q4
Salestonnes‘000
Revenue$’m
Revenue and sales tonnes
Revenue $'m Sales tons'000
Notes:
1) The API4$ price has decreased significantly from FY12. Export contracts on API4$ account for 50%-60% of
total sales. This has impacted on revenue and margins.
2) API4$ pricing for FY14Q4 was between $85 - $89 per tonne
API4$ pricing decreased
from $105 to $85.

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• For Fiscal 2013 Forbes Coal reported export sales of 437,000 tonnes, reflecting strong
demand from export markets
• Global thermal trade flows show India and China as major global importers of thermal coal
• South Africa exported an estimated 23 million tonnes of thermal coal to India in 2010
• Asia dominates demand for anthracite coal
• 83% of global imports; 95% of expected export demand growth
Access to Export Markets
Global Thermal Coal
Trade Flows
1. Source : Company Reports

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Stephan Theron
President & CEO
Forbes & Manhattan Coal Corp.
Tel: + 1 416 861 5912
June 2013
CONTACT INFORMATION
65 Queen Street West, Suite 815 P.O. Box 71, Toronto, Ontario, Canada, M5H 2M5
Email: info@forbescoal.com Website: www.forbescoal.com
TSX/JSE : FMC
Samantha Thomson
Investor Relations Manager
Forbes & Manhattan Coal Corp.
Tel: +1 416 309 2957