UK – Cameroon Trade & Investment Forum

1. UK – Cameroon Trade & Investment Forum May 7th 2014

2. Glencore At a glance • leading integrated producer and marketer of commodities, with worldwide activities in the production, refinement, processing, third party procurement, storage and transport of those products • more than 90 offices in over 50 countries; operations comprise over 150 mining and metallurgical sites, oil production assets, farms and agricultural facilities. We employ approximately 200,000 people, including contractors • listed on London, Hong Kong and Johannesburg Stock Exchanges • current rating BBB (stable) / Baa2 (stable) Metals and Minerals Energy Products Agricultural Products • Copper • Zinc/Lead • Aluminium • Ferroalloys • Nickel • Iron Ore • Coal • Oil Grains Oils/Oilseeds Sugar Cotton Key financials Key competitive strengths (US$ m) • scale and commodity diversity • unique business model, fully-integrated along the supply chain to capture value in an evolving competitive landscape • ability to respond to changing industry dynamics • core competence in commodity marketing, logistics, risk management and financing • leading industrial asset portfolio of diversified operations with strong growth prospects • diversified position across multiple commodities, suppliers and customers • world-class management team, entrepreneurial culture and track record of value creation 2012 2013

3. Where we operate More than 90 offices in over 50 countries, over 150 industrial sites and facilities

4. A high value, liquids-based strategy…with trading synergies ` Attractive and balanced portfolio of exploration, development and production assets 1 5 West and Central African focus primarily targeting oil plays Strong in-house technical and financial capabilities 2 4 Significant production growth from EG (Alen) and Chad in 2013 to add to existing Aseng production Demonstrated ability to source attractive opportunities and prove up resources 3

5. A growing Exploration and Production Portfolio E&P Portfolio Location Asset Participation * Glencore operated

6. A track record of success 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Diega Discovery Carla Discovery Oak Discovery EG05 PSC Ratified EG Block I Farm-In Cameroon Bolongo PSC Signed MatandaDrilling Exploration EG Block O PSC Signed Alen Discovery AsengDiscovery Morocco Farm-in EG Block V Farm-in Cameroon Tilapia Farm-in Krim Exploration Well EG Block X PSC Signed ChadFarm-in Cameroon Matanda PSC Signed Oak Appraisal Aseng First Oil Carla Appraisal Development and Production BadilaFirst Oil Alen POD Approval Aseng POD Approval Drilling History: • 52 wells drilled since 2004 • 17 exploration wells • 21 appraisal wells • and 14 development wells • 5 dry holes Alen First Oil A strategy started in the early 2000’s, now translating into reserves and production

7. Growing upstream production

8. Cameroon – Matanda Matanda (Glencore 90% Operator, AFEX 10%) • NM-3x well confirms significant wet gas play in Cretaceous • Well results currently being evaluated • Further drilling opportunities in the license with total potential of >1tcf • Gas monetisation feasibility study on going

9. Cameroon – Bolongo • Oak oil field discovered in 2012 • Resource potential in the development area of 30 – 100mmbbls oil • Current appraisal drilling programme nearing completion • Development feasibility study set to commence Bolongo (Glencore 100% & Operator)

10. Conclusions • Cameroon is a core area for Glencore upstream investment • Exploration investment to date in the Bolongo and Matanda licenses exceeds US$460mm • Appraisal results from the Oak discovery may lead to a development requiring significant investment. • Future potential for significant gas development exists in the Matanda license

11. QUESTIONS?