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February 14, 2016 10:45 AM ET

Metals and Mining

Company Overview of Oyu Tolgoi LLC

Company Overview

Oyu Tolgoi LLC operates as a copper and gold mining company in Mongolia. It develops a mine with undeveloped copper-gold resources in the Gobi desert in southern Mongolia. Oyu Tolgoi LLC was formerly known as Ivanhoe Mines Mongolia Inc. and changed its name to Oyu Tolgoi LLC in October 2009. The company was incorporated in 2000 and is based in Ulaanbaatar, Mongolia. Oyu Tolgoi LLC operates as a subsidiary of Oyu Tolgoi Netherlands BV.

Monnis Tower

Chinggis Avenue 15

Sukhbaatar District

Ulaanbaatar,  14240

Mongolia

Founded in 2000

Phone:

97 6113 31880

Fax:

97 6113 31890

Key Executives for Oyu Tolgoi LLC

Chief Executive Officer and President
Age: 51
Managing Director
Age: 57
Principal Advisor of Biodiversity Research-Environmental Department
Compensation as of Fiscal Year 2015.

Oyu Tolgoi LLC Key Developments

Oyu Tolgoi LLC Enters Agreement on Senior Loan Facilities

Oyu Tolgoi LLC entered into a common terms agreement dated on or about December 15, 2015 among OT LLC, the Senior Lenders, the US Ex-Im Agent, the MIGA Agent, the Intercreditor Agent, the Security Agents and the Account Banks and other finance documents thereby securing an aggregate of $6,000,000,000 in senior loan facilities for purposes of, among other things, financing the Project. As a condition precedent for the Senior Lenders making the Initial Senior Loans available to OT LLC, TRQ, as sponsor, will enter into a sponsor debt service undertaking, to be dated concurrent with the RT CSU, among TRQ, Rio Tinto, the Senior Lenders, the Offshore Security Agent and the Intercreditor Agent pursuant to which, prior to the Project Completion Date, TRQ has guaranteed to the Senior Lenders the full and punctual payment of its Pro Rata Share (as defined in the Sponsor Debt Service Undertaking) of all Guaranteed Senior Debt Obligations (as defined in the Sponsor Debt Service Undertaking). Pursuant to a memorandum of agreement dated April 17, 2012, between Rio Tinto International Holdings Limited (“RTIH”), Rio Tinto South East Asia Limited (the “Rio Tinto Funding Company”) and TRQ, the principal components of a comprehensive financing plan (the “Comprehensive Financing Plan”) intended to address the funding needs of TRQ (with the primary focus on the financing of the OT Project) was agreed, including the provision by a member of the Rio Tinto Group of a completion support undertaking for the project financing for the OT Project upon certain terms and conditions. As agreed in the MoA and as a condition precedent for the Senior Lenders making the Initial Senior Loans available to OT LLC, Rio Tinto will enter into a completion support undertaking (the “RT CSU”), to be dated on or about the Funding Date, among Rio Tinto, the Senior Lenders, the Offshore Security Agent and the Intercreditor Agent pursuant to which Rio Tinto has guaranteed to the Senior Lenders the full and punctual payment of its Pro Rata Share (as defined in the RT CSU) of all Covered Obligations (as defined in the RT CSU). TRQ and OT LLC will derive substantial benefit from the RT CSU. TRQ has agreed to provide management services to OT LLC pursuant to the amended and restated shareholders agreement dated June 8, 2011, between Erdenes MGL LLC, Ivanhoe Oyu Tolgoi (BVI) Ltd., Oyu Tolgoi Netherlands B.V. and OT LLC (the “ARSHA”), including in connection with obtaining the Initial Senior Loans, and TRQ is compensated for the services it provides to OT LLC by virtue of a management services fee paid in accordance with the terms of the ARSHA. In consideration for Rio Tinto’s provision of the RT CSU, TRQ has agreed with Rio Tinto that under certain prescribed circumstances and subject to the terms and conditions set out herein, Rio Tinto may require TRQ to take certain actions to ensure that OT LLC has sufficient resources to fund and meet its Senior Debt Obligations and TRQ has sufficient resources to fund and meet its Debt Service Obligations.

Oyu Tolgoi LLC Signs $4.4 Billion Finance Facility

Oyu Tolgoi LLC signed a $4.4 billion finance facility for underground mine development at the Oyu Tolgoi project. The facility is being provided by a syndicate of international financial institutions and export credit agencies representing the governments of Canada, the United States and Australia, along with 15 commercial banks.

Oyu Tolgoi Provides Production Guidance for 2015; Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Oyu Tolgoi provided production guidance for 2015. The company expected to produce 175,000 to 195,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates in 2015. The company reported earnings results for the third quarter and nine months ended September 30, 2015. For the three months ended September 30, 2015, the company incurred a net loss of $148,651 or $0.00 per share compared to $1,399,598 or $0.01 per share for the three months ended September 30, 2014. For the nine months ended September 30, 2015, the company incurred a net loss of $3,758,350 or $0.03 per share compared to $5,605,374 or $0.04 per share for the nine months ended September 30, 2014.

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