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Investor Presentation - North American Palladium

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Ongoing Review of<br />

OPERATIONS<br />

Short-term focus:<br />

• Strategic mine planning<br />

(evaluating new ore sources)<br />

• Fleet reduction<br />

• Standardizing ground control<br />

support<br />

• Waste haulage reduction with<br />

open stopes<br />

• Reduction of contracting staff<br />

Medium-term focus:<br />

• Phase II plans<br />

• Energy savings<br />

• Tailings footprint reduction<br />

• Material management & inventory<br />

reduction<br />

• Size of drifts<br />

• Development footprint reduction<br />

16 16

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