Portfolio Overview

Allegiance currently owns the following projects:

• The Telkwa metallurgical coal project located in the north west of British Columbia, Canada (Project), comprises three separate coal deposits all within close proximity. They are referred to as Tenas, Goathorn and Telkwa North. The Tenas metallurgical coal project (Tenas Project) is Allegiance’s flagship project which is now entering full feasibility and permitting stages. The Tenas Project is a standalone development of the Tenas coal deposit with a potential mine life of at least 40 years.

• The Kilmain project is located in the southern part of the Bowen Basin of Central Queensland. It has been the subject of some exploration drilling intercepting the Rangal coal measures at depths of 200 to 400 metres. Coal sampling indicated at various wash densities the project could recover a PCI coal, a semi-soft coking coal and a residual thermal coal.

• The Back Creek project is located in the Surat Basin of Central Queensland. The project intercepts the Auburn, Bulwer and Condamine seams in the lower part of the Taroom Coal Measures. Allegiance has delineated a 98Mt JORC Inferred Resource within the project tenement.