Ann: Application for quotation of securities - LNY, page-238

Coking Coal Ashford Coking Coal Project (Ashford Project) As thermal coal prices recover dramatically from a deep low in 2020, the coking coal price is also
recovering in 2021. Forecasters are projecting coking coal prices to reverse most of their recent decline.
The 40% owned Ashford project is expected to produce a majority of its coal as semi-soft coking coal. At the Company’s Ashford project, native title negotiations are advancing, and a final agreement is
expected to be achieved in the third quarter. The planned drilling program will commence when
negotiation is completed. Currently, discussions are being held with the Australian Rail Track Corporation about utilising the Inland
Rail facility to expedite Ashford Coal Project product to port.























Coking Coal Ashford Coking Coal Project (Ashford Project) As thermal coal prices recover dramatically from a deep low in 2020, the coking coal price is also
recovering in 2021. Forecasters are projecting coking coal prices to reverse most of their recent decline.
The 40% owned Ashford project is expected to produce a majority of its coal as semi-soft coking coal. At the Company’s Ashford project, native title negotiations are advancing, and a final agreement is
expected to be achieved in the third quarter. The planned drilling program will commence when
negotiation is completed. Currently, discussions are being held with the Australian Rail Track Corporation about utilising the Inland
Rail facility to expedite Ashford Coal Project product to port.