Ann: Appendix 3Y Davies, page-11

There are two tranches of performance rights that were approved in the last SXY AGM.

The first one is for 1.847m right equivalent to ID’s 100% salary of $850k based on 46 cents. This will be vested once the TSR conditions are met.

The 2nd tranche is for 3m performance rights and will be vested if milestones on Roma North and Atlas are met.

Both Tranches require a positive TSR. Meaning (from my reading) a share price of at least 46 cents.