The Molo Graphite Project Madagascar

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November 2013

December 2013

Project

Ocean Ports

TSX:EGZ | OTCQX:ENZR | FWB:YE5

We are evolving our company from mine exploration to mine development.

Rio Tinto $1 Billion Mineral Sands Project

Sherritt, Sumitomo, KORES $6.5Billion Ambatovy Nickel & Cobalt Project

Africa

Shipping Port in Taolagnaro

Sakoa Coal Project $400M (e)

Green Giant Graphite Project

• Located in the southern arid region of Madagascar

• $Billion+ mining projects established in-country

• Mining industry viewed as very positive by government

Japan

Green Giant Graphite Project, Fotadrevo, Madagascar

Shipping Port in Tulear

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WTR Mineral Sands $200M (e)

Sherritt/Glencore Limestone

EU

China

India

South Korea

Japan

Molo Deposit Madagascar

Molo is located within the hub of top purchasing and processing markets for flake graphite.

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• Never exceeded 12,000 TPA production

• Remaining mines are family-owned, small and rudimentary

• Located in environmentally sensitive areas with no possibility of expansion

Typical Madagascar Flake Graphite Setting

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Madagascar has been renowned as a producer of high-quality, large flake graphite for over a century.

• Flat, grassland with sparse vegetation

• Very low population density

Molo Flake Graphite Setting

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Arid setting and low population density have prompted top government officials to state the project is ‘perfectly situated’.

Sedimentary Metamorphic

Intermediate Pressure Granulite

High Pressure Granulite

Energizer’s Property is situated in a Very Rare and Unique Geological Setting

Transpressive lithospheric shear zone

• Within the highest grade, medium pressure metamorphic facies

• Energizer has secured ~80% of this zone

• 100% owned

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• 84.04 Mt indicated resources @ 6.36% C, above a 2% C cut-off

• 40.34 Mt inferred resources @ 6.29% C, above a 2% C cut-off

• Easily expandable to meet additional market demand as required

Japan

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One of the largest flake graphite deposits in the world. (NI 43-101 compliant)

NI 43-101 compliant resource

Surface Mining Open Pit Mining • Immediately at surface

• No overburden

• Minimal waste-to-ore ratio

• Continuous mineralization throughout

• Open along strike and at depth

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Recovery: 89% Average Head Grade: 8.5 % Annual Production Graphite: 84,000T/year Open Pit Mining Strip Ratio 1.65 Operating Costs: US$418.45/T

NPV 10% discount: US$421M IRR: 48% Payback: 3 years

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Preliminary Economic Assessment Study Results

Robust Mine Economics

Molo Graphite Deposit – Very Large and Expandable

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• 120 km (75 mile) long property

• Total graphite strike length > 320 km (199 miles)

• Additional tonnage available immediately around Molo

• Molo is one of many graphite zones (17) on Green Giant property

20-50 MT

80-150 MT

5-15 MT

30-50 MT

20-40 km 12-15 km 5-10 km

40-60 km

40-60 km 40-60 km

5-10 MT

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Multiple Graphite Types Identified on Property

Vein Hydrothermal Breccia

High Grade (to 71.94% in

outcrop) Acicular Flake

100% Owned Property

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Largest market

Why are we targeting flake graphite?

Refractory Battery Consumer Electronics

Require Flake Graphite

Largest potential market

Fastest growing market

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• 98% purity through flotation

• 47% of flakes are Large and Jumbo (>80 mesh)

• 99.9% purity confirmation by GDMS analysis

Technical Milestones Achieved for Target Markets

Current testing underway to ascertain costing to achieve >99.9% purity

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Composite Bulk Sample for Pilot Plant

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Composite Bulk Sample

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Molo Metallurgical Results

•+100 33.3% @ 94.9%C •+200 36.1% @ 93.3%C • -200 30.6% @ 82.1%C Mintek

•+48 22% @ 97.4%C •+65 18% @ 96.7%C •+80 8% @ 95.7%C •+100 11% @ 96.0%C •+200 22.6% @ 95.2%C • -200 18.5% @ 95.9%C

SGS

89% Recovery 1:1.65 Strip Ratio

95% Recovery 1:0.07 Strip Ratio

PEA

Pilot Plant

Process allows Energizer to adjust product specs according to market needs

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Process Flow Accommodates Different Product Streams

Ore Flash Flotation Grind Flotation

Grind

+80 mesh

+150 mesh

-150 mesh

Grind

Grind

Grind

Cleaner

Flotation

Flotation

Flotation

Africa’s leading mine construction and operations company already in place to develop the Molo mine.

A top director of DRA is on Energizer’s Board.

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Minopex, a wholly owned subsidiary of DRA, can operate the Molo mine.

The Panalpina Group, the world’s largest mining logistics company, and has confirmed the in-place infrastructure at Molo is serviceable to operate a graphite mine today.

The Right Expertise in Place

Labradorite quarry Sakoa Coal Project

Limestone (Sherritt & Glencore)

Mineral Sands (WTR)

Molo

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Existing Road to coast ~ 160 km

Trucking Transhipment

Container Shipping

In-Place and Serviceable Infrastructure The Molo project will benefit from, but is not at all dependant upon, the upgrading of infrastructure planned for other projects.

PORT of TULEAR PORT of SOALARA

20-tonne dimensional stone blocks are trucked out daily to the port of Tulear.

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Existing Road Network Supports a Graphite Mine

We are hitting all milestones for mine development.

Graphite Discovery

Exploration

•41 DDH (8,459 m) •18 trenches (2,100 m)

2016 Q1-2 2015 Q3-4 2015 Q1-2 2014 Q3-4 2014 Q1-2 2013 Q3-4 2012 Q3-4 2012 Q1-2 2011 Q3-4 2013 Q1-2

Accelerated Timeline - Exploration through to Production

Resource Delineation

•Airborne and ground geophysics •20 DDH (2,842 m)

Preliminary Economic Analysis

MINE DEVELOPMENT TIMELINE

Rapid Development of Project In the space of just five years, Energizer anticipates the project will have evolved from discovery through to production.

NI 43-101 Resource

Pilot Plant Testing

Environmental Baseline Study Environmental Impact Assessment

Mining Permit Application

Bankable Feasibility Study

LGIM Application

Mine Construction

Mine Commissioning

Full-scale Production

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2009

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2012

2013

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Madagascar Government Energizer Resources has been operating in Madagascar since the fall of 2007.

Marc Ravoalamana Andry Rajoelina Dr. J-L Robinson or Hery Rakotoarimanana

Started exploration Identified one of largest

vanadium deposits in the World

NI 43-101 Indicated V2O5 resource of 49.5MT @ 0.693%

Discovered graphite

NI 43-101 Indicated graphite resource of 84.04MT @ 6.36% and Inferred resource of 40.34MT @ 6.29%

Published extremely positive PEA

BFS

Production

Major countries are currently invested in Madagascar (U.S., France and China) and regard it as a strategic location for mineral wealth opportunity.

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The United States Embassy in the capital city of Antananarivo.

The Right Expertise in Place

Graphite Discovery, Delineation and Project Development

Mine Design and Construction

Mine Operation

Product Delivery

Financial Partners

We have the ideal team to realize the

potential of the World Class

Molo Deposit Off-Take Partner In Progress

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Mine Development Expertise

Senior Vice-President Mine Development

• Will oversee all matters related to the development of the Molo Graphite Project as it moves toward mine construction and production

• Mining Engineer

• Served as Mining Director for DRA Mineral Projects

• Served as COO of Red Island Minerals – Madagascar coal venture

• Experience in the management of African-based underground and surface mining operations

Robin Borley

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Investment Thesis Strong Board

• V. Peter Harder – political strength; former Deputy Minister of Foreign Affairs

• Richard Schler – technical and management strength; engineer, former steel company executive

• John Sanderson – legal strength; senior arbitration lawyer

• Craig Scherba – geotechnical strength; geologist

• Quentin Yarie – geotechnical strength; geophysicist

• Johann de Bruin – technical strength; Director of DRA, engineer, mine construction experience

• Kirk McKinnon – management strength; former executive with Nestle

• Albert A. Thiess Jr. – financial strength; former Senior Partner with Price-Waterhouse-Coopers

• Robin Borley – technical strength; engineer, mine construction & management experience

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Very large and expandable NI 43-101 flake deposit

Robust and Conservative PEA Study

In-place and serviceable infrastructure

Proximal to key demand markets

Scalable mine with surface mining; no environmental issues

Turn-key African-centric partner in-place to build and run mine

Pilot plant operation/bulk sample testing

✓ ✓ ✓ ✓ ✓ ✓

ADVANCING TO A MINE

✓

Energizer Resources is rapidly advancing a world-class graphite project.

Nuclear Energy

Li-ion Batteries for EVs

Energy Storage Fuel Cells

Electronics

Battery-based Transportation

Refractories

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We Are Positioned To Seize The Present Opportunity, and Can Meet Graphite Demand As The Market Expands

Molo

Contact Information

Brent A. Nykoliation Senior Vice President, Corporate Development

bnykoliation@energizerresources.com

Richard Schler, Chairman and CEO Craig Scherba, P.Geo., President and COO

141 Adelaide Street West, Suite 520 Toronto, Ontario, Canada M5H 3L5

telephone: 416.364.4911 facsimile: 416.364.2753

www.energizerresources.com

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Thank-you