Summit 1

1. Strategic Transformation
21 April 2016
B.Byambasaikhan
CEO of Erdenes Mongol LLC
Chairman of BCM

2. 2
www.erdenesmongol.mn
Mission, Strategy and Plan
MISSION
1
Catalyst for value-enhancing
growth in Mongolia 2
Grow and diversify
the economy 3
Deliver returns for our
3 million shareholders
SUCCESS DRIVERS
2 Corporate governance
excellency1 Professionalization
3 Healthy pipeline
of projects

3. 3
www.erdenesmongol.mn
Mission, Strategy and Plan
TURN-AROUND MODE
1
Stand-alone law to allow it to act
as a private company 2 Policy to allow dividends to flow
STRATEGY & PLAN
2
Strengthen existing
businesses with
added value1 Improve legal framework
and corporate model 3 Diversify asset base into
economic infrastructure

4. 4
www.erdenesmongol.mn
Apr 2016
Undertaking a
governance
review
Mar 2016
ADB loan
approved
Feb 2015
New CEO with
international
experience
appointed
Jan 2016
Audited financial
accounts in IFRS
2013
Acquired GOM
interest in Shivee
Ovoo and
Baganuur
2007
EMGL is
established
May 2015
Underground
Mine
Development
and Financing
Plan signed
Dispute with
Rio resolved
Dec 2015
Signed the OT
PF, one of the
largest in the
mining industry
Feb 2016
Law passed to
enable EMGL
to act under
Company Law
2010
Erdenes Tavan Tolgoi
(“ETT”) becomes a
subsidiary of EMGL
Acquired 34% of OT
History and Current Situation
Current Situation
 OT underground
remobilising
 EMGL increasing its
international advisors
 ADB loan, audited IFRS
financials, changes to
law are all enablers to
professionalization
 Mission and
organization structure
are under review
 New opportunities
already presented to
EMGL
The new management of EMGL resolved the 5 year OT dispute in 3 months and has already made significant
progress to turnaround the Company.
2007 20162013 2015

5. 5
www.erdenesmongol.mn
Business oriented,
Profitable
Government
dependency
Socially oriented,
Unprofitable
Good governance,
Independent operation
2012
2016
2020
2018
2022
2025
2008
Year
Restructure and professionalize EMGL and its portfolio companies’ leadership and management
Erdenes Mongol Development Vision

6. 6
www.erdenesmongol.mn
 Road is the primary
means of transporting
product from the
Ömnögovi region to
the Mongolia Chinese
border
 Purchased from
Mongolian Mining
Corporation for a net
consideration of MNT
157.8bn
Gashuun Sukhait
Road
Current Assets
 100% state-owned
 Established in February 2007
 Represent the GoM interest in strategic deposits
 Hold minerallicenses of and develop deposits
explored with government funds
 Manage assets in deposits of strategic importance
upon the approval of the Parliamentand Cabinet
 One of the world’s
largest copper mines
with long mine life
 Partnership between
GoM, Rio Tinto and
Turquoise Hill
 Moving quickly into
Stage 2, underground
development
 Large exploration and
expansion potential
 Access to China via
paved highway and rail
 Major world class
premium hard coking
coal deposit
 Located next to the
world’s largest steel
producing region
 Large reserves of
coking coal and high
quality thermal coal
with exploration
potential
 Largest producing
thermal coal mining
company in Mongolia
 Established in 1978
 Provides c.40% of the
total coal consumed in
power stations in
Mongolia and over 60%
of Mongolia's Central
Region thermal coal
requirements
 >30 year coal supply to
CHP5 (sponsored by
Eagle)
 2nd largest producing
thermal coal mining
company in Mongolia
 Established in 1990
 Provides c.20% of the
total coal consumed in
power stations in
Mongolia and over 30%
of Mongolia's Central
Region thermal coal
requirements
 Developing9,000MW
power plant with State
Grid of China for export
Copper Coal
BA C D E
Tavan TolgoiOyu Tolgoi Baganuur Shivee Ovoo
Infrastructure

7. 7
www.erdenesmongol.mn
@bbyambasaikhan
@www.linkedin.com/in/byambasaikhan
bbyambasaikhan@erdenesmongol.mn