Ann: GRR - Quarterly Report for 3 months ended 31 December 2020, page-4

"Grange continues to deliver into secured term offtake agreements realising higher prices for our
lower impurity and high-quality products. Grange has fully allocated all of 2021 production
through offtake agreements at an additional premium above the 65% Fe fines and pellet
premium indices. This demonstrates the continued strong demand for Grange’s high quality
and low impurity products."

Grange have already allocated all of 2021 Production to a customer at a premium. Given, that steel companys have a better understanding of the Time ahead, its a strong indicator, that the demand will remain strong and the supply short. This put Grange in an exceptional good position for the year ahead.