Page 1

BOUGAINVILLE COPPER LIMITED Notice to ASX BOUGAINVILLE COPPER LIMITED ( BOC ) 30 August 2021 The directors of Bougainville Copper Limited announce the following results of the company for the six months ended 30 June 2021 together with comparable results for the six months to 30 June 2020. An update of recent events is also included . The results have been independently reviewed . The result for the six months ended 30 June 2021 for the group was a net operating loss of K3.3 million ( AUD $ 1.2m ) compared to net loss of K4.5 million ( AUD $ 2.0m ) in the corresponding period last year . The results of the Bougainville Copper Foundation Limited have been consolidated . Financial Results only For personal use Consolidated Consolidated 2021 2020 Income Interest Κ'000 K'ooo 5 Dividends 1,815 1,538 1,815 1,543 Less : General and administration expenses 4,757 5,564 Depreciation 378 520 Net Profit / ( loss ) after tax ( 3,320 ) ( 4,541 ) Average AUD $ / Kina exchange rate for the period Equivalent net loss in AUD $ ' 000 0.3622 0.4357 $ ( 1,203 ) $ ( 1,978 ) Total administration expenditure in the first half of 2021 decreased compared to the corresponding period in 2020 resulting in savings of K807,000 . Stakeholder engagement , travel , community projects and exchange rate losses were key areas where costs were reduced . This was in part a reflection of the restricted operating environment due to the impact on operations of the ongoing global coronavirus pandemic and cost restraint measures . Dividend income from the Company's investments in ASX listed shares increased in Kina value however remained similar in AUS $ value compared to 2020 . Investments of K1.7 million were realised during the period with the Ko.9 million fair value gain previously accumulated in reserves transferred within equity to retained earnings . The Company will need to realise further investments in the second half of 2021 to fund ongoing operations . The value of ASX listed investments held by the Company increased during the period resulting in the Net assets of the Group increasing to K123.4 million from K121.0 million in December 2020 . Telephone : ( 675 ) 309 2800 Postal Address : PO Box 1274 , Port Moresby , Papua New Guinea Registered Office : Level 5 , BSP Haus , Harbour City , Lot 2 on Allotment 34 , Section 44 , Granville , Port Moresby , NCD Incorporated in Papua New Guinea A.R.B.N 007 497 869 f facebook https://www.facebook.com/BougainvilleCopper