Ann: Annual Report to shareholders, page-2

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2020:
Korab Group continued discussions and negotiations with various parties including trading houses, refractory
ceramics producers, other potential buyers of magnesium carbonate rock, CCM, and DBM, as well as kiln
operators, and equipment suppliers.

Discussions with interested parties are ongoing but are incomplete and details are confidential. There can be no certainty that any agreement or agreements can be reached or that any transaction will eventuate from these discussions. Other than the agreement with ZM Ropczyce reported
during the March 2019 quarter, no commercial terms have been agreed between the parties. Accordingly, no investment decision should be made on the basis of this information. Korab will advise the market if and when an agreement or agreements regarding offtakes and/or toll-treatment have been reached.

2019 relodged report

The discussions with interested parties are ongoing but are incomplete and details are confidential. There can be no certainty that any agreement or agreements can be reached or that any transaction will eventuate from these discussions. No commercial terms have been agreed between the parties.

2018

On 17 April 2018 Korab reported that it has decided to fast track the development of the Winchester
magnesium carbonate project and to add Geolsec phosphate project to the projects being reviewed for
potential divestment.
During the year Korab met with various processors, end users, trading houses, logistics companies,
refractories makers, etc. to discuss offtakes and sales of the raw material from the Winchester project.

2017

During the reporting period, Korab also continued to make progress with the Winchester magnesite project.
Korab has continued discussions with buyers of magnesium carbonate and producers of magnesium oxide
with the view to establishing further forward sales, or offtake agreements.