Ann: Block 9 Early Production Testing Update, page-113

I'm glad you did and I echo your call to fellow shareholders to cast their vote as well. Remember MAY is a primarily RETAIL held stock. My personal perspective on Resolution 4 is simply this: The targets are not representative of any level of long term STRETCH performance. They do not tie in with the vision to becoming a billion dollar company by 2026, which would require the stock to be consistently traded circa 30c.

Tranche 1 is 12c (20 consecutive trading days) by May 2024. 1.5 year vesting from Nov 28, 2022 is hardly long term. AP has a Short Term Incentive plan amounting to a max of $240,000 per annum based on annual KPI's. This is just 6 months longer. A stretch performance target would be 16c.

Tranche 2 target is 19.2c (20 consecutive trading days) by Nov 28 2025. That's a large gap to be covered to 30c within 12 months. A stretch target would be 24c (50% increase over Tranche 1 target).

IMHO the LTI targets are too soft and inconsistent with the vision of the company.

DYOR and not financial advice.