Ann: Investor Presentation - RIU Explorers Conference 2023, page-12

Every investment seems to be a failure right now. I am in the red for a number of companies with these ongoing market issues. It’s not just an IPT issue. People are selling out of their portfolios due to fear and many investors bought property at the peak and now have to service extremely high debt with worsening interest rates. There is a lot of liquidity getting shifted around now and the entire market is taking a hit! Luckily I entered a few companies right at the beginning of their journey and overall my portfolio is slightly in the green still. The point is IPT might look like a failed investment now, but in a year it might be one of the investments of your life. A lot can change, if the market shifts, or if BHP or IGO get a massive hit and interest comes. Those sell walls will be taken out in an instant. Imo now is a great time to be accumulating or buying in. We know the company is now well placed for upcoming exploration.