Turquoise Hill Resources announced that, further to its March 14, 2018 letter to shareholders, the Company’s Board of Directors has undertaken a review of the matters raised by SailingStone Capital Partners LLC in its February 1, 2018 letter.

The Board believes that the Company is appropriately informed and that management is properly incentivized to perform its duties. Recognizing the concerns raised by SailingStone, the Board of Directors, through its independent members, has met with Rio Tinto and discussed actions that the parties can and have taken to enhance their working relationship on relevant Oyu Tolgoi matters. Specific actions that the parties are taking include:

·Increasing direct participation by Turquoise Hill management on Oyu Tolgoi matters, including in various Oyu Tolgoi working groups that are interacting with the Government of Mongolia and in the upcoming Oyu Tolgoi cost and schedule reviews;

·Enhancing the independence of Turquoise Hill’s technical personnel;

·Establishing a project management office at Oyu Tolgoi as an additional mechanism to facilitate sharing of information.

In addition, the Board, through its Compensation and Benefits Committee as part of its ongoing mandate, continues to review management compensation arrangements to ensure consistency with the guiding principles of the Company’s compensation philosophy, building on the progress made over recent years in aligning management interests with those of the Company’s shareholders.

Discussions with Rio Tinto have been constructive and are ongoing. Both parties recognize that Turquoise Hill’s independence and its participation in all material and relevant Oyu Tolgoi matters are important to facilitating the maximization of Oyu Tolgoi’s value for all Turquoise Hill shareholders.