Invitation for bidding

Date: December 23, 2010
Name: Open Bidding for Contract Miner for Tavan Tolgoi Coal Deposit
Number: Erdenes-TT/23/12/2010

1. Two-phase open bidding is being announced to select a contract miner/operator that will
conduct mining operations on a contract basis in eastern Tsankhi area – Erdenes-TT mine
at the Tavan Tolgoi coal deposit.

2. The Tavan Tolgoi coal deposit is Mongolia’s strategically significant and world-class
coking coal deposit located in southern part or Gobi region of Mongolia.

3. A corporate entity selected to enter into a contract as a result of the two-phase open bidding
shall become a contract miner/operator that will conduct coal mining operations in eastern
Tsankhi area – Erdenes-TT mine of Erdenes-Tavan Tolgoi company, subsidiary of Erdenes
MGL LLC, at the deposit.

4. The Client seeks to select an experienced, capable, and reputable contract miner/operator
that can have a positive impact on the company’s assessment – sale of shares of Erdenes-
Tavan Tolgoi company at international and domestic stock exchanges (IPO) and fund
raising, conducts operations at international level, and uses leading equipment/machinery
and technology and high standards.

5. The bidder shall deliver bid security as reflected in the tender document along with its bid.
The bid shall be valid for 150 days after it is opened.

6. The bidder shall purchase the Bidding Document for nonrefundable US$8,000 (eight
thousand US dollars) or equivalent amount in Mongolian currency (tugrug). The payment
shall be made to the Client’s bank account. Information on the bank account shall be
obtained at the contact address. The payment can be made in cash in person or through its
authorized representative. A copy of the receipt of the payment made through the bank
account shall be delivered to the Client by fax or e-mail.

7. The bidder shall deliver its bids prepared and sealed as per requirements stipulated in the
Bidding Document as per corresponding regulations by mail, express mail, or its authorized
representative. The Client shall not be responsible for lost mail and any cost incurred in
relation to preparation and delivery of the bidder’s bid.

8. Bids shall be delivered to the Client at the address for submission of applications prior to
16.00 pm on January 27, 2011. They shall be opened at 17.00 pm on January 27, 2011. The
Client shall reject the bids that have missed the deadline.

9. Mongolia’s corresponding laws, rules, and regulations and Bidding Document shall be
applicable to the bidding.

10. The bidding shall be conducted at two phases as set out in the Public and Local Procurement
Law and Bidding Document.

11. The Bidder selected to enter into a contract as a result of the bidding shall mine coal and
remove overburden and conduct other mine planning and organization-related operations on
a contract basis in eastern Tsankhi area – Erdenes-TT mine at the Tavan Tolgoi coal deposit
for a specific period of time (agreement shall be reached on the specific period of time
under a contract contingent on commencement of mine operations at full capacity).

12. Bidders that have obtained the Bidding Document as per corresponding regulations can
obtain information at the contact address.

13. Address for submission of bids and contact:

Erdenes MGL LLC
Bidding for Contract Miner
Suite 37, Diplomatic Complex 95, khoroo/sub-district 5
Chingeltei district, Ulaanbaatar, Mongolia
Tel: +976-7011-0735; +976-7011-0625
Fax: +976-7011-0725
Email: contractmining@erdenesmgl.mn

Contacts:
Ch. Batbaatar (Mobile: +976-9907-1318) (batbaatar.ch@erdenesmgl.mn)
Ts. Tsenguun (Mobile: +976-8820-2933) (tsenguun@erdenesmgl.mn)