Ann: Transition and Leadership Change, page-81

Have to praise Twiggy, EG and the rest of FMG for the way they have approached this decision and ultimately what it means for the company.

We own a slice of one of Australia's great success stories. A company that has risen emphatically from
humble beginnings to become the most efficient iron ore producer in the world, and in doing so securing an awesome future for all.

But the move into green energy is the step that will take us from
being a great Aust company, to being a great global company.

I too recognise the skill set required to do this and appreciate the honesty and integrity with the way the leadership question has been handled by FMG.

It is very rare for former CEO to
remain within a large company - FMG has retained EG's enormous talents and this will bode well for the ongoing success of its iron ore division.

The new CEO will posses all the skills, networks, experience, attributes necessary to make FMG a force globally as a green energy colossus.

EG has spoken about the uncoupling of the business from the iron ore price. This is something I spoke about three months ago.

FMG can not be simply viewed as only the most efficient producer of iron ore in the world, or only as a miner from this day forward as it is so so so much more than that.

Great business share the ability to remain relevant, the ability to innovate and the ability to evolve as the world changes. FMG has all of these things.

FMG will always be my biggest hold and I am very happy with this announcement.

I am more confident of this business now than at the recent ATH peak of the 2021 mega iron ore boom and as such I am buying.

FMG, go you bloody good thing