Ann: Interim Financial Statements - Half-year ended 30 June 2022, page-5

SYRAH RESOURCES LIMITED
ABN 77 125 242 284
INTERIM REPORT FOR THE HALF-YEAR ENDED
30 JUNE 2022
The final investment decision for the Vidalia Initial Expansion project was underpinned by an

institutional placement and pro rata non-renounceable entitlement offer for approximately A$250 million
(US$180.7 million), which was completed during the period, and an offtake agreement executed withTesla,
Inc in December 2021. Varied project workstreams for the Vidalia Initial Expansion project progressed
through the interim financial period including detailed engineering and procurement activities with Worley
Group, off-site major equipment fabrication, and site preparation and construction activities at Vidalia.
The Company is advancing qualification processes with target customers as well as product and process
development at Vidalia.

Does this mean we could expect to see additional executed offtake agreements as well as possible licencing agreements for the product development process ?