Stornoway 2015 Annual General Meeting Presentation

BUILDING QUÉBEC’S FIRST DIAMOND MINE
Annual General Meeting, October 19th 2015, Montreal
Matt Manson Patrick Godin
President, CEO & Director COO & Director

2
Forward-Looking Information
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 Resources and exploration targets; (ii) the amount of future production over any period; (iii) net present value and internal
rates of return of the mining operation; (iv) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out
in the 2011 Feasibility Study or the Optimization Study; (v) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the 2011
Feasibility Study or the Optimization Study; (vi) mine expansion potential and expected mine life; (vii) expected time frames for completion of permitting and regulatory
approvals related to construction activities at the Renard Diamond Project; (viii) the expected time frames for the completion of the open pit and underground mine at the
Renard Diamond Project; (ix) 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; (x) future exploration plans; (xi) future market prices for rough diamonds; (xii)
the economic benefits of using liquefied natural gas rather than diesel for power generation; (xiii) sources of and anticipated financing requirements; (xiv) the effectiveness,
funding or availability, as the case may require, of the Stream, the Senior Secured Loan, the COF and the Equipment Facility and the use of proceeds therefrom; (xv) the
Corporation’s expectations regarding receipt of the remaining deposits under the Stream and its ability to meet its delivery obligations thereunder; (xvi) the impact of the
Financing Transactions on the Corporation’s operations, infrastructure, opportunities, financial condition, access to capital and overall strategy; (xvii) the foreign exchange rate
between the US dollar and the Canadian dollar; and (xviii) the availability of excess funding for the construction and operation of the Renard Diamond Project. 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, anticipated financial performance, regulatory
developments, development plans, exploration, development and mining activities and commitments, and the foreign exchange rate between the US and Canadian dollars.
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 and estimated
workforce requirements; (ii) estimates of net present value and internal rates of return; (iii) anticipated timelines for completion of construction, commencement of mine
production and development of an open pit and underground mine at the Renard Diamond Project, which heavily depend, among other things, on adequate availability and
performance of skilled labour, engineering and construction personnel, performance of mining and construction equipment and timely delivery of components; (iv) anticipated
geological formations; (v) market prices for rough diamonds and the potential impact on the Renard Diamond Project; (vi) the satisfaction or waiver of all conditions under each
of the Stream, the Senior Secured Loan, the COF and the Equipment Facility to allow the Corporation to draw on the funding available under those financing elements for the
completion of the development and construction of the Renard Diamond Project; (vii) Stornoway’s interpretation of the geological drill data collected and its potential impact on
stated Mineral Resources and mine life; (viii) future exploration plans and objectives; (ix) the receipt of the remaining deposits under the Stream and the Corporation’s ability to
meet its delivery obligations thereunder; and (x) the continued strength of the US dollar against the Canadian dollar. Additional risks are described in Stornoway's most recently
filed Annual Information Form, annual and interim MD&A, and other disclosure documents available under the Corporation’s profile at: www.sedar.com.

3
Forward-Looking Information (contd)
The Renard
Diamond Project,
September 16, 2015
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. Stornoway
invites the reader to take note of the risk and uncertainties set out in the most recently filed Annual Information Form, annual and interim MD&A and other disclosure
documents available under the Corporation’s profile at: www.sedar.com and cautions the reader that the list of risk and uncertainties set out in these disclosure documents of
the Corporation and that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time.
Readers are also referred to the technical reports dated as of February 28th, 2013 entitled “The Renard Diamond Project, Québec, Canada, Feasibility Study Update, NI 43-
101 Technical Report, February 28, 2013” in respect of the January 2013 Optimization Study, and dated October 14, 2015 entitled “2015 Mineral Resource Update, for the
Renard Diamond Project, Québec, Canada, NI 43-101 Technical Report”. 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 National
Instrument (NI) 43-101 - Standards of Disclosure for Mineral Projects. Ms. Darrell Farrow, PrSciNat, P. Geo. (BC), Ordre des géologue du Québec (Special Authorization #
332) of Geostrat Consulting Services Inc. is the independent qualified person responsible for preparation of the mineral resource estimate for the Renard Diamond Project.

4
Stornoway Diamond Corporation TSX:SWY
On Budget, On Schedule
Construction 47.4% complete compared to 42.9% planned by end September 2015.
Forecast cost to complete within C$811m budget.
Plant Commissioning 2H 2016. Commercial Production 2Q 2017.
Building the Renard Diamond Project, Québec’s First Diamond Mine
Site Overview Sep 16, 2015
The Renard
Diamond Project,
September 16, 2015

5
From the 2014 AGM…
43
Québec’s First Diamond Mine is Ready to Build
Project Green-lighted: Authorizations Issued
Community Agreements in Place
Stornoway Operating Team in Place
Access Road Opened
Resource Growing
Project Design Fully Optimized
Favourable Cost Environment
Stornoway is Fully Focused on the
Timely Completion of Final Project
Financing
50
Stornoway Diamond Corporation TSX:SWY
Our Priorities
www.stornowaydiamonds.com
Solid project execution
Budget, schedule and operating
excellence
Disciplined management of cash and
expenditures
Strong balance sheet
Delivering on project’s strong margin
and cash flow potential
Then…
Retain exposure to pipeline exploration
assets through JVs
With successful construction and
commissioning behind us, look to the
future

6
Good Timing
The Renard Project Financing, Closed July 8th, 2014
Type
Amount
(% of Total)
Description
Common Equity C$374M (40%)
• C$132M marketed public equity offering of subscription receipts
• C$242M private placement to Orion (US$110M), RQ (C$100M) and Caisse (C$22M)
Diamond Stream US$250M (29%) • 20% diamond stream (Orion 16%, Caisse 4%) with ~US$56/ct(1) ongoing payment
Convertible Debentures US$81M (9%)
• Provided by Orion; 7 year, 6.25% coupon, 35% conversion premium to equity issue
price
Senior Debt C$120M (11%) • Provided by IQ; 7 year amortizing payment, Fixed (QC Bond)+5.75% or Prime +4.75%
Equipment Financing US$35M (4%) • Provided by Caterpillar
Cost Overrun Facility C$48M (5%)
• C$20M provided by IQ (same terms as senior debt)
• C$28M provided by Caisse (unsecured, 7 year term, 10% coupon)
Total C$946M (100%)
Assumes US$1.00 = C$1.10
1. Includes reimbursement of marketing expenses
Counter-Party
Amount
(% of Total)
Orion Mine Finance C$367M (39%)
Investissement Québec/
Ressources Québec
C$240M (25%)
Caisse de dépôt et
placement du Québec
C$105M (11%)
Caterpillar Financial C$39M (4%)
Public C$195M (21%)
Total C$946M (100%)
In April 2015 Blackstone Tactical Opportunities, an affiliate of
Blackstone (NYSE-BX), acquired a c.5% equity position in
Stornoway and a minority 4% ownership interest in the Renard
diamond stream by way of a secondary market transaction with
Orion Mine Finance (“Orion”).
The first two of three tranches of the Renard Diamond stream
funded in March and September 2015, on schedule. The third
and final tranche is scheduled for March 2016.
Subsequent to Transaction Closing

7
Good Timing: Sources and Uses of Funds to July 31, 2015
On Current C$:US$ Exchange Rates, Unaudited unless noted
(all amounts in millions of C$) Assumed
Actual use
of Proceeds
to July 31,
2015
Renard Diamond Project
Capital Expenditures 811 311
Route 167 Extension (1) 70 70
Financing Costs, Interest during
Construction
58 24
Mine Closure Guarantee 16 2
Pre-production Net Revenue (26) -
Total Project Costs 929 407
General Corporate Purposes
Equity fees and transaction costs 18 29
General working capital,
administrative and salary expenses
14 6
Total Uses 961 442
Costs
Notes
1. The total amount borrowed pursuant to the Renard Mine Road loan was $77 million, of which $70 million was used for construction of the Renard Mine Road and $7 million was used
for civil works related to the airstrip. Costs related to the airstrip were included in the $811 million capital expenditures line in the table above.
2. On September 30, 2015, Stornoway received the second tranche of US$80m of stream funding, which was subsequently converted to C$ at an exchange rate of $1.336, representing
a cash gain of C$18.9 million compared to the July 2014 funding plan, which assumed a C$:US$ exchange rate of $1.10.
3. Cost Overrun Facility includes the $20 million Senior Loan Facility, Tranche B and the $28 million Cost Overrun Facility with the CDPQ
4. Assuming a C$:US$ conversion rate of C$1.25
5. This forecast assumes a project cost of $811 million (which includes assumed levels of escalation and contingencies), the satisfaction of all covenants and conditions precedent for
future funding, and a CAD$:US$ exchange rate of $1.25 for unfunded US dollar denominated financing commitments.
(all amounts in millions of C$)
Sources of Funds
Stream Deposits not yet received(2) 213
Senior Loan Facility, Tranche A 100
Cost Overrun Facility(3) 48
Equipment Financing Facility(4) 17
Undrawn Sources of Funds
As of July 31, 2015, Stornoway forecasts excess
financing capacity available to complete the project
of approximately $101 million comprised of $53
million of cash, receivables and expected mine
tax credits and $48 million of undrawn cost
overrun facilities(5).

8
Good Timing: Capital Markets
Recent Equity Issue Activity in the Mining Sector
Total Mining Issuance
Mining Issuance: 2014 and 2015 YTD
Sub-Sector # Deals C$MM
Gold 35 $1,687.2
Uranium 6 $78.3
Silver 3 $1,828.5
Rare Earth 2 $79.0
Zinc 0 $0.0
Coal 0 $0.0
Molybdenum 0 $0.0
Nickel 2 $10.0
Total 63 $5,346
2015 YTD
Mining Sector Breakdown
Diamonds 6 $169.8
Diversified 7 $1,480.8
Lithium 1 $8.0
Iron Ore 0 $0.0
Sub-Sector # Deals C$MM
Gold 64 $2,396.4
Diversified 23 $1,407.0
Uranium 12 $166.2
Copper 4 $188.5
Lithium
1 $15.8
Silver 5 $127.3
Rare Earth
4
$37.8
Coal
1
$0.0
Molybdenum
0
$0.0
Nickel
0
$10.2
Total 129 $4,789
2014
Mining Sector Breakdown
Zinc
4
$36.2
Iron Ore
2
$3.0
Diamonds 9 $400.6
In 2014, C$4.8 billion was raised in the mining
sector through new public equity offerings,
including Stornoway’s July 2014 transaction.
The vast majority was within the gold sector,
followed by the diversified and diamond sectors
(including Stornoway’s July 2014 transaction).
Excluding 2 large transactions in 2015 (Silver
Wheaton; $1.0 billion, First Quantum; $1.4
billion), financings in 2015 are tracking lower
than 2014.
The focus of 2015-YTD has been silver,
representing 35.0% of mining dollars raised.
Diamond financings in 2015-YTD have been a
much smaller proportion of new equity issuances
over 2014.
No improvement in the equity capital markets for
public resource issuers is expected in 2015.
Commentary
$12.9
$7.9
$19.9
$12.1
$8.2
$6.9
$5.5 $4.8 $5.3
255
110
188
303
261
148 129 129
63
2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD
C$Bn #
Copper 1 $4.0
Source: Dundee Equity Capital Markets and FP Infomart.

9
Good Timing: Construction Market
First Call on Best People, Contractors and Equipment
CWX X-Ray Machines, In Fabrication LNG Vaporizer Vessels, in Fabrication
PROMEC Mobilization for Power Plant Vibrating Screens, Delivered
Caterpillar 60t UG Truck, Delivered Plant centrifuges, in Fabrication
Renard is currently the only major mine in
construction in Eastern Canada.
Benefits to Stornoway:
• First call on the best people, contractors,
and equipment
• Shortened contract tendering process
• Reduced lead times on key equipment
• Cost control

10
Good Timing: Diamond Market and Canadian Dollar
Rough Diamond Pricing 2009-2015
May 2011 FS
Diamond Valuation
50
100
150
200
250
300
350
1-Jan-09 1-Jan-10 1-Jan-11 1-Jan-12 1-Jan-13 1-Jan-14 1-Jan-15
Indexto2009=100
WWW Rough Index, Renard Model Price Growth, Real Terms
CAD
USD
FS 2.5% Price Model
(Nominal, adjusted
for CPI) with +/- 10%
Sensitivity
WWW Rough
Diamond Price
Index

11
Publicly Listed Diamond Producers, Developers and Explorers
Consensus Analyst Views on Value
Ticker
Price
(16/10/15)
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 ₽56.06 7,365.0 ₽412,880 (n/a) (n/a) ₽77.17 40% ₽1.47/sh
Dominion Diamonds DDC:T $13.95 85.1 $1,187.6 $29.88 0.5x $24.80 81% US$0.40/sh
Gem GEMD:LN £1.08 138.3 £149.7 £2.16 0.5x £1.84 73% US$0.05/sh
Lucara LUC:T $1.73 379.6 $656.6 $2.48 0.7x $2.50 47% $0.04/sh
Petra PDL:LN £0.94 512.1 £478.8 £1.85 0.5x £1.78 93% £0.02/sh
Diamond Developers
Firestone FDI:LN £0.22 309.0 £67.6 £0.51 0.4x £0.45 104% (n/a)
Mountain Province MPV:T $4.16 159.7 $664.2 $7.15 0.6x $6.69 61% (n/a)
Stornoway SWY:T $0.74 732.3 $541.9 $1.47 0.5x $1.21 64% (n/a)
Diamond Explorers
Kennady Diamonds KDI:LN $2.95 46.3 $136.4 (n/a) (n/a) (n/a) (n/a) (n/a)
North Arrow Minerals NAR:V $0.25 54.0 $13.5 (n/a) (n/a) (n/a) (n/a) (n/a)
Peregrine Diamonds PGD:T $0.175 282.7 $49.5 (n/a) (n/a) (n/a) (n/a) (n/a)
Shore Gold SGF:T $0.17 248.7 $42.3 (n/a) (n/a) (n/a) (n/a) (n/a)
Notes:
1. Bloomberg and Thomson One Analyst Consensus
All Currencies in C$ unless specified

12
Shareholding
Share Price (TSX-SWY):
Oct 16, 2015
C$ $0.74
52 week High-Low C$ $0.46–$0.85
Average Daily Volume:
Last 12 Months
374,593
Market Capitalization: C$ 542 million
Total Shares Outstanding: 732 million
Total Options & Warrants Outstanding:
(28.2m Options $0.59-$5.36; 123.8m
warrants $0.90-$1.21)
152 million
Consolidated Cash1,2:
(as of July 31, 2015)
C$ 270 million
Consolidated Debt1:
(as of July 31, 2015)
C$ 220 million
Undrawn Financing Commitments2,3:
(Subject to Financing Agreement CPs)
C$ 352 million
Balance Sheet
Balance Sheet and Capital Structure
Notes
1. Unaudited
2. Does not include funds received from second tranche of the Stream on
September 30th
3. Assuming a C$:US$ conversion rate of C$1.10
Investissement Québec 28.6% 22.7%
Orion Mine Finance 19.5% 17.5%
CDPQ 6.1% 6.2%
Float 45.8% 53.6%
DilutedBasic
-100.0%
-50.0%
0.0%
50.0%
100.0%
150.0%
One Year Equity Performance of
Selected Diamond Companies
SWY DDC GEMD LUC
PDL FDI MPV KDI
NAR PGD SGF

1313
Renard Mineral Resources and Exploration Upside

800m
900m
1100m
1200m
1000m
Renard Mine Plan and Key Operating Assumptions
A Combined Open Pit and Underground Operation
Notes
1. Key Assumptions:C$1=US$1, Oil US$95/barrel, 2.5% real terms diamond
price growth, 82.9% ore recovery, 23.8% mining and internal dilution, 0cpht
dilution grade.
2. Expressed in May 2011 terms. Average price US$190/carat in March 2014
terms.
3. Expressed in October 2012 terms, as adjusted in October 2013 LNG FS.
Includes C$754m of costs and contingencies and C$57m of escalation
allowance.
4. Expressed in October 2012 terms. Operating costs C$54/tonne in October
2013 LNG FS terms. Excludes capitalized preproduction costs.
5. Before stream
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 is conceptual in nature, and it is uncertain if further
exploration will result in the target being delineated as a mineral resource.
Reserve Based Mine Plan1
(Jan 2013 FS Optimization and October 2013 LNG
Option FS)
Mine Life 11 years
Mineral Reserve 17.9 mcarats
Ave. Diamond Price2
$180/carat
Production Rate 2.2 mtonnes/yr
Ave. Diamond Production 1.6 mcarats/yr
Gross Revenue (C$M)2
$4,268
Initial Capital Costs3
$811m
Operating Cost4
$58/t ($76/carat)
Operating Margin5
67%
Payback 4.8 years
14
0m
100m
200m
400m
600m
700m
500m
300m
Renard 4
Renard 9
Renard 65
Renard 2
Renard 3
Mineral Resource Estimate Effective September
24, 2015 (NI 43-101)
13 mcarats Inferred Mineral Resources
33 to 71 mcarats TFFE
30 mcarats Indicated Mineral Resources
An Updated Renard Mine Plan, scheduled for Q2
2016, is expected to include additional mine
production from new Indicated Mineral Resources
in Renard 2 and Renard 65, deepening of the
Renard 2-3 open pit, extension of the underground
mine infrastructure to 700m, and an optimized
schedule for plant commissioning and ramp-up.

15
Renard 2 Mineral Resource Classification
Effective September 24, 2015. Changes to Previous Estimate Shown in Italics
Pipe shape
at surface
(1.89ha)
High TFFE at
1,250m (1.38ha)
Notes
1 Reserve and Resource categories were completed in accordance with the "CIM Definition Standards
on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
2 Totals may not add due to rounding.
3 Carats per hundred tonnes. Estimated at a +1 DTC sieve size cut-off.
4 Diamond valuation data utilized for the test of prospects of reasonable economic extraction are
derived from a diamond valuation exercise undertaken in March 2014 (see Stornoway Annual
Information Form dated July 2015).
0m
700m
850m
1250m
INDICATED
INFERRED
TFFE
600m: Base of
Previous Indicated
Mineral Resources
Depth
Below
Surface
Kimberlite
outline
at surface
(0.75ha)
Low TFFE at
1,250m (0.62ha)
Base of New
Indicated
Resources
(1.55ha)
Indicated Mineral Resources(1,2,4)
Contained Carats
(millions)
Tonnes (millions) Grade (cpht)(3)
Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4%
Renard 2, w/o CRB-
2A, CRB
20.39 +11.0% 20.52 +15.9% 99 -4.3%
CRB-2A 0.29 +2.6% 0.90 +2.6% 32 --
CRB 0.90 n/a 4.28 n/a 21 n/a
Inferred Mineral Resources(1,2)
Contained Carats
(millions)
Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2%
Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9%
CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5%
Target for Further Exploration(1)
Contained Carats
(millions)
Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100
North View Renard 2 NI 43-101 Mineral Resource Estimate
Renard 2 Targets for Further Exploration
Notes
1 Represents potential upside that can be reasonably assumed given the nature and grade of material
within the current 2015 Mineral Resource. The potential quantity and grade of any Exploration Target is
conceptual in nature, there has been insufficient information to define a mineral resource, and it is
uncertain if further exploration will result in the target being delineated as a mineral resource.
2 Carats per hundred tonnes. Potential at a +1 DTC sieve size cut-off.
Pinch in
model in area
lacking drill
coverage

16
Renard 2 Geological Model and Unit Grades
Within the Indicated Mineral Resources
Average Grade
(cpht)(1)
Average Dilution
(%)(2)
Kimb 2a (“Blue”) 76 +3.0% 52 -0.9%
Kimb 2b (“Brown”) 145 +1.0% 30 -0.9%
Kimb 2c (HK)3 229 +0.5% 12 -3.1%
CRB-2a 32 -- 93 --
CRB 21 n/a 96 n/a
Within the Inferred Mineral Resources
Average Grade
(cpht)(1)
Average Dilution
(%)(2)
Kimb 2a (“Blue”) 67 -2.4% 65 +9.2%
Kimb 2b (“Brown”) 145 +0.3% 30 +1.5%
Kimb 2c (HK)3 229 +0.5% 12 -3.1%
CRB 21 +10.5% 96 --
Notes
2 Represents the average amount of non-diamond bearing country rock
estimated within each geological unit.
3 The Kimb 2c (Hypabyssal Kimberlite, or “HK”) unit is a constituent component
of each of the Kimb2a, Kimb2b, CRB and CRB-2a units.
Renard 2 Average Mineral Resource
Grades, by Geological Unit
Kimb2b
(“Brown”)
Kimb2a
(“Blue”) CRB CRB-2a Kimb2c (HK)
West View
Contact
Pinch in model in area
lacking drill coverage
0m
700m
850m
1250m
INDICATED
INFERRED
TFFE
600m: Base of
Previous Indicated
Mineral Resources
Depth
Below
Surface
North View
Photographs of
geological units from
the 2007 Renard
underground bulk
sample program

17
Renard 2 Geological Model and Renard 2-Renard 3 Convergence
Effective September 24, 2015
Pipe shape
at surface (1.89ha)
Kimberlite outline
at surface (0.75ha)
Kimb2b (“Brown”)
Kimb2a (“Blue”)
CRB
CRB-2a
Surface View, Looking Down
Surface View, Looking Down
0m
700m
850m
1250m
R2 INDICATED
R2 INFERRED
R2 TFFE
Depth
Below
Surface
R3 INDICATED
R3 INFERRED
R3 TFFE
North East View
Resource categories were completed in accordance 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 is conceptual in nature, there has been insufficient information to
define a mineral resource and it is uncertain if further exploration will result in the target
being delineated as a mineral resource.
Renard 2 Renard 3
Renard 2
Renard 3
126.6m R3 intersection in DDH R2-
81J (in red) starting 942.2m
downhole: 47m true width.
R3 TFFE:
>500m potential
between drill
intersections

18
Renard Diamond Project NI 43-101 Mineral Resource Estimate
Notes
1 Resource categories were completed in accordance with the "CIM Definition
Standards on Mineral Resources and Reserves". Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
2 Totals may not add due to rounding.
4 Diamond valuation data utilized for the test of prospects of reasonable economic
extraction are derived from a diamond valuation exercise undertaken in March
2014 (see Stornoway Annual Information Form dated July 2015).
Indicated Mineral Resources(1,2,4)
Contained Carats
(millions)
Renard 2, All Units 21.58 +15.6% 25.70 +38.3% 84 -16.4%
Renard 2, w/o
CRB-2A, CRB
20.39 +11.0% 20.52 +15.9% 99 -4.3%
CRB-2A 0.29 +2.6% 0.90 +2.6% 32 --
CRB 0.90 n/a 4.28 n/a 21 n/a
Renard 3 1.86 +2.3% 1.82 +3.4% 102 -1.0%
Renard 4 4.44 +3.0% 7.25 -- 61 +3.0%
Renard 65 2.30 -- 7.87 -- 29 --
Total Indicated
Mineral Resources
30.17 +11.4% 42.63 +20.2% 71 -7.4%
Inferred Mineral Resources(1,2)
Contained Carats
(millions)
Renard 2, All Units 3.88 -48.0% 6.59 -44.0% 59 -7.2%
Renard 2, w/o CRB 3.36 -46.1% 4.08 -22.0% 82 -30.9%
CRB 0.53 -57.6% 2.51 -61.6% 21 +10.5%
Renard 3 0.61 -- 0.54 -- 112 --
Renard 4 2.46 +3.5% 4.75 -- 52 +3.5%
Renard 65 1.18 -- 4.93 -- 24 --
Renard 9 3.04 -- 5.70 -- 53 --
Lynx 1.92 -- 1.80 -- 107 --
Hibou 0.26 -- 0.18 -- 144 --
Total Inferred
Mineral Resources
13.35 -20.8% 24.49 -17.5% 54 -4.0%
Inferred Mineral Resources
Indicated Mineral Resources
High Range TFFE
Renard 65
775m depth
Renard 4
775m depth
Renard 9
775m depth
Renard 2
1,250m depth Renard 3
1,250m depth
North East View

19
Renard Diamond Project Exploration Potential
Effective September 24, 2015. Changes to Previous Potential Shown in Italics
Notes
1 Target for Further Exploration: represents
potential upside that can be reasonably
assumed given the nature and grade of material
within the current 2015 Mineral Resource. The
Renard 2 shape has been projected 250m
below the deepest kimberlite intersection at
1,000m depth. Tonnage and grade ranges are
not directly applicable to potential total
carats.The potential quantity and grade of any
Exploration Target is conceptual in nature, there
has been insufficient information to define a
mineral resource, and it is uncertain if further
exploration will result in the target being
delineated as a mineral resource.
2 Carats per hundred tonnes. Potential at a +1
DTC sieve size cut-off.
Notes
Resource categories were completed in accordance with the "CIM Definition
Standards on Mineral Resources and Reserves". Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
Area indicated in yellow represents a gap in drill coverage that may represent
additional exploration potential outside of the current Mineral Resource Estimate
and not included in the current Targets for Further Exploration.
Renard 65
775m depth
Renard 4
775m depth
Renard 9
775m depth
Renard 2
1,250m depth Renard 3
1,250m depth
Inferred Mineral Resources
Indicated Mineral Resources
High Range TFFE
North East View
R10 R7
R1 R65
R4 R9
R2
R3
Targets for Further Exploration(1)
Contained Carats
(millions)
Renard 1 1.7 to 3.9 8.6 to 13.0 20 to 30
Renard 2, All Units 3.7 to 15.5 6.1 to 15.5 60 to 100
Renard 3 3.6 to 6.3 3.4 to 3.8 105 to 168
Renard 4 5.6 to 11.8 11.1 to 15.4 50 to 77
Renard 65 7.3 to 13.5 29.0 to 40.9 25 to 33
Renard 7 1.9 to 3.8 6.3 to 9.4 30 to 40
Renard 9 2.0 to 4.3 3.9 to 6.3 52 to 68
Renard 10 0.7 to 2.1 1.2 to 1.7 60 to 120
Lynx 3.0 to 3.8 3.1 to 3.2 96 to 120
Hibou 3.6 to 6.1 3.5 to 4.0 104 to 151
Total TFFE
33.0
+28%
to
71.1
+40%
76.2
+49%
to
113.2
+51%

2020
Construction Report (Patrick Godin)

21
Environment, Health, Safety, and Stornoway’sTeam
“Courage to Care”
On Personal Safety
On the Safety of our Colleagues
On the Environment
With our Inter-cultural workforce
Lost Time Injury Rate
SWY employees: 0.0 (43,453 hours worked to end of Sept.)
Contractors: 0.7 (79,149 hours worked to end of Sept.)
Renard Total: 0.44
Québec Construction Industry: 2.2
Québec Mining Industry: 0.8

22
Approach to Mine Construction
Chevrolet/Cadillac
Access Road
Airport Terminal
Accommodation Complex
Mine Dry and Office
Process Plant
Power Plant
Airport Landing Strip
Water Management and
Treatment Facility
Maintenance Facility
Mining Equipment
“Chevrolet” “Cadillac”

23
Construction Sequence
2H 2H 2H 2H1H 1H 1H1H
2013 2014 2015 2016
All in parallel with open pit and
underground mining activities
R2-R3
R65
Camp
Process
Plant
Portal
1. Construct Access:
Road and Airport
3. Close Buildings of Major
Facilities (“Outside-In”)
2. Build Camp and
Mine Office/Dry
4. Equip Major Facilities
5. Commence Operations

24
Renard Mining Road and Airport
The 240km long Route 167 Extension and the Clarence and Abel Swallow Airport
Eastmain River Bridge March 2015
Sept 2015July 2014
Jan 2015 Airport Naming Ceremony, March 2015
July 2014

25
Camp and Mine Dry
Sept 2014 Oct 2014 Jan 2015: Occupation
Sept 2015 June 2015

26
Maintenance Facility
Completed Approximately 6 Months Ahead of Schedule
July 2015April 2015
Inauguration Ceremony, September 24, 2015 Oct 2015

27
Primary Crusher and LNG Power Plant
Sept 2015Oct 2015

28
Diamond Processing Plant
Live Updates on Process Plant Construction at www.stornowaydiamonds.com
Oct 2014
Sept 2015First Concrete
April 7, 2015
Aug 2015July 2015

29
Open Pit Mining
Renard 2 – Renard 3 Pit Pre-stripping Commenced March 2015
R2-R3 Pre-Strip, March 5, 2015
Open Pit Mining Team, March 5, 2015
R2-R3
R65
Portal
R2-R3 Pit, May 23, 2015
Decline Ventilation, May 10, 2015
Mining Progress as of July 31 2015
1,842,582 tonnes extracted from R2/R3 and vs plan of
2,042,680 (93%)
R2-R3 Pit August 2015

30
August 2015
Sept 2015
R2-R3
R65
Portal
Decline Progress
as of July 31, 2015
486m against plan of 504m (96%)
Underground Mining
Portal Development December 2014, Ramp Development Commenced March 2015

31
The Mecheshoo Agreement, March 2012
Renard’s Social Licence
Working with Stakeholders
The Declaration of Partnership, July 2012
Environmental Exchange Group, 2011
The design of the project, and the December 2011 Environmental and Social
Impact Assessment, was developed in conjunction with an environmental
Exchange Group that met during the course of 2011 in Mistissini.
The Renard Project has been designed to minimize impact on local water quality
and fish habitat, the principal concern of the Crees. The project has been “built
to close”, and reclamation liabilities have been bonded 100% with the MERN
In July 2012 Stornoway concluded a “Declaration of Partnership” with the
communities of Chapais and Chibougamau.
The Declaration of Partnership provides a framework to address issues of mutual
interest such as communication, employment and economic diversification.
In March 2012 Stornoway concluded the “Mecheshoo Agreement” with the Cree
Nation of Mistissini and the Grand Council of the Crees (EI).
The “Mecheshoo Agreement” provides for employment and business
opportunities, the Crees, fosters cultural, environmental and social protection,
and provides for the Crees’ participation in the project’s long term financial
success.

32
Main Contractors at Mine Site
in 2014-2015
Construction Talbon Matoush-Grimard
Manseau & Perron inc MY Surveying
Sakhiikan Consortium Kesi Construction
Eskan Company RCM Habitation Modulaire
Jos Ste-Croix Swallow-Fournier inc
Kiskinshiish Camp Services Tessier Ltée
Communications Telesignal SPI Santé/Sécurité
Structures GB Ltée Prevost et Frères
H2O Innovation Nordic Structures Bois
Anixter Canada Recyclage Ungava
Plomberie Chibougamau Sanivac Réseau
Blasteck International Barette et fils
Convoyeur Continental ASDR Environnement
Installations AC Washeyaabiin Const.
Industrie Fournier Biron
Yves Lacombe Pétrole MJ
Roche Ltée Mabarex
Equ. Pétrolier Lac St-Jean Hewitt
Construction Proco Corner Cast
Air Creebec Revetement RHR
Petronor Groupe Industriel Premium
Dyno Nobel Canada Mansour Mining Techno.
Groupe Robert PAR Tanguay (WEC)
Invoiced Expenses from Québec ($245M)
CHIB-CHAP-MIST
MONTREAL
BEAUCE
ABITIBI
SAGUENAY-LAC ST-JEAN
GASP-BSL-COTE-NORD
MAURICIE-CENTRE-SUD
QUEBEC
Total of Invoiced Expenses ($290M)
Renard’s Social Licence
Local & Regional Participation – Invoiced expenses from September 2014 to August 2015
Chib.-Chap.-
Mistissini.
38%
QUEBEC
ONTARIO
OTHER PROVINCES
USA
Elsewhere (SA, TURKEY,
SWITZERLAND)
Quebec
86%

33
Employment Statistics
Average of 410 people/day Working at the Renard Site in September 2015
Longueuil
43%
Renard
34%
Vancouver
9%
Toronto
8% Chiboug/
Mistissini 6%
Crees
58%
Non-
Crees
42%
Crees
22%Non-Crees
78%
Longueuil
20%
Renard
75%
Vancouver
2%
Toronto
2%
Chiboug/
Mistissini 1%
Personnel at Site
Sept 2014: 193
Sept 2014: 68
Stornoway Employees
Sept 2015: 410
Sept 2015: 290

34
Innovation at Renard
Liquefied Natural Gas Power Plant
On October 21st, 2013 Stornoway announced it will
proceed with an LNG fuelled gen-set option, made
possible by the ability to receive regular cryogenic
LNG shipments on the Renard Mine Road.
The Renard LNG plant will comprise seven 2.1MW
rated gas gen-sets, providing sufficient power
generation capacity for the project’s normal operating
specification of 9.5MW.
LNG has significant advantages over traditional
diesel powered gen-sets. Operating costs are
estimated to be $8-$10m less annually, for an
incremental capital cost of $2.6m, with 42% less
greenhouse gas emissions.
LNG will be purchased from Gaz-Metro in Montreal,
with deliveries of three tankers per day by road.
Diesel will continue to be used for the mobile mining
fleet and construction activities.
Renard will be one of the first LNG
powered mines in Canada, made
possible by road access

35
PKC
Waste Rock
Overburden
UG Mine Portal
Process Plant
Mine Waste Water Treatment
Plant
Collection Trench
Pumping Station
Surface Water Management
Sept 2014
Jan 2015
Mine Water Treatment Plant
Oct 2015
Camp Waste Water Treatment Plant
Sept 2014
Jan 2015
Camp Waste Water
Treatment Plant
100% of surface precipitation and mine waste water at
Renard is collected and treated before release.

36
The First Diamond Mine to Dry Stack Processed Kimberlite
Processed Kimberlite
Containment (PKC)
Dry stacking of processed kimberlite minimizes impacts of
project on fish habitat and local water quality
Centrifuges in process plant de-water
processed kimberlite (PK)…
…producing a cake for re-handling.
PK cake is loaded-out… …trucked… …and deposited at PKC facility with
progressive reclamation.

3737
Looking Forward (Matt Manson)

38
The Challenge of Finding and Developing New Diamond Mines
“Tier 1” defined as mines with Ultimate reserves greater than US$20B: Jwaneng, Orapa, Mir,
Udachnya, Venetia, Catoca, Premier
Kimberlite Discoveries Since 1870
6,800
1,000
65
7
875
420
20
1
10
100
1,000
10,000
Kimberlites
Discovered
Diamondiferous Economic Tier 1*
Recent Diamond Mines
Source: De Beers/SWY
Economic kimberlites represent just 1% of all
discoveries made since 1870 (1.7% in Canada)
Time from Discovery to First Production
Ekati (1998, BHPB, now Dominion) 7 years
Diavik (2002, Rio Tinto/Dominion) 9 years
Victor (2008, De Beers) 20 years
Snap Lake (2008, De Beers) 11 years
Karowe (2012, Lucara) 10 years
Grib (2013, Lukoil) 18 years
Ghaghoo (2014, Gem) 23 years
Renard (2017, Stornoway) 16 years
Gahcho Kué (2017, DeBeers/MPV) 21 years
Bunder (2019, Rio Tinto) 15 Years
Projects are taking longer to develop

39
Stornoway will be a Significant Diamond Producer
Current and Future Diamond Producers
Latest 12 Month Sales/ Forecast Future
Average Sales
1 De Beers (Anglo/Botswana) $6,312m
2 Alrosa (Russia) $4,901m
3 Dominion Diamond (TSX: DDC) $872m
4 Rio Tinto (ASE: RIO) $801m
5 Petra (L: PDL) $425m
6 Stornoway (note 2; TSX: SWY) $310m
7 Mountain Province (note 2; TSX: MPV) $259m
8 Gem Diamonds (TSX: GEMD) $241m
9 Lucara (TSX: LUC) $196m
10 Firestone (note 3; L: FDI) $125m
11 Others $2,558m
Total $17,000m
DeBeers
37%
Alrosa
29%
Dominion
5%
RioTinto
5%
Petra
2%
SWY
2%
MPV
1%
GEM
1%LUC
1%Firestone
1%
Others
15%
Notes:
1. Renard estimated at FS average annual diamond production of 1.63 million carats, and WWW March 2014 weighted diamond price of US$190/ct, un-escalated
2. Gahcho Kué estimated at 49% of Revised FS average annual production of 4.45 million carats, and average modeled diamond price of US$118/ct, un-escalated
3. Firestone estimated at revised 2015 mine plan average annual production of 0.95 million carats at an average price of US$132/ct un-escalated
6 Stornoway (note 1; TSX: SWY) $310m
Source: Kimberly Process, WWW and Company Reports

40
Renard’s Cash Flow Potential
Base Case Economics
Renard is Expected to Generate Substantial Cash Flow
over its first 11 years of Mining
After Tax, After Stream Operating Cash Flow of between
$150 and $250 million, or $0.20 to $0.30 per share
Assumptions
Mineral reserve case only
Capital and operating cost parameters as established in the January 2013 Optimization Study
and October 2013 LNG FS
Base case diamond pricing from March 2014; No “special” diamonds.
2.5% annual real diamond price escalation
C$:US$ conversion rate of C$1.10
Based on terms of Financing Transaction closed on July 8th, 2014
Assumes full conversion to equity of US$81million of Convertible Debentures giving
825 million shares outstanding.

41
Stornoway will sell 100% of the Renard diamond production by
tender sale in Antwerp. 10 times a year, every 5 weeks. This will
create a “Stornoway Sales Week” in the diamond market.
To this end, Stornoway’s wholly owned subsidiary FCDC Sales and
Marketing has entered into a sales and marketing agreement with
the well known diamond industry broker and rough distributor
Bonas-Couzyn, which will act as sales commissionaire and tender
agent for arm's length market sales.
Sales of diamonds under the Renard Streaming Agreement will be
undertaken by Bonas-Couzyn, on an undivided basis, on behalf of
FCDC and the Streamers
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’s Diamond Sales
As a miner, Stornoway will focus on mine
production and cost efficiency. Diamond sales will
be by arm's length tender sales in Antwerp, 10
times a year. Stornoway will support the Québec or
Canadian brand identification initiatives of its
clients through chain of custody certification.

42
Renard’s Product
Québec Diamonds in the World Market
March 2014 Diamond Valuations
(WWW International Diamond Consultants Ltd.)
Kimberlite
Body
Valuation
Sample
(carats)
WWW March
2014 Sample
Price
(US$/carat)1
WWW March
2014 Base Case
Price Model
(US$/carat)1
Sensitivities
(Minimum to High)
Renard 2 1,580 $187 $197 $178 to $222
Renard 3 2,753 $179 $157 $146 to $192
Renard 4 2,674 $101 $106 ($155)2
$100 to $174
Renard 65 997 $262 $187 $175 to $211
Notes
1. All prices in US$/carat. Samples utilizing a +1 DTC sieve size cut-off.
2. Should the Renard 4 diamond population prove to have a diamond population with a size
distribution equal to the average of Renard 2 and 3, WWW have estimated that a base case
diamond price model of $155 per carat based on March 2014 pricing. Source: WWW March
2014 Valuation Update
Base Case Diamond Valuation Estimates
Using on Best Practice Methodology
Average weighted diamond price estimate in
March 2014 for the Mineral Reserves of
US$190/ct (un-escalated).
High Quality Production
The Renard kimberlites have similar, but
marginally different diamond populations
exhibiting a high incidence of large white gems
and only 1% boart by weight.
XRT technology in Plant for Large Diamond
Recovery
Coarse Size Distribution in Renard 2 predicts 3 to
6 50-100ct stones and 1 to 2 +100ct stones every
100,000 carats (2-3 weeks).
Plant 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

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

Stornoway 2015 Annual General Meeting Presentation

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Stornoway 2015 Annual General Meeting Presentation