Ann: March 2013 Investor Presentation , page-2

I see slide 20 contains the following:-

Grant of Permit – (pending Appeal)
? Expert Native Title Tribunal legal costs in the DMP directed Mediation process –
May 2011 to June 2012.
? OBL has todate conducted management and funding of all legal proceedings
since August 2012
? Reaching a landmark determination decision from the Native Title Tribunal on 1
February 2013
? Appeal period ended close of business 1 March 2013 – KRED on behalf of
Applicants Appealed determination on 1 March 2013
? Grant of Permit now expected to be delayed until late March 2013
? OBL will seek to enforce its MOU Rights to maximise its ownership post-Grant.

BRM