Ann: Binding Offtake Signed with Traxys, page-394

Late 2019 Traxys and Pallinghurst group formed a joint venture with an
intent to support ethical and responsibly sourced battery materials .Pallinghurst was to be responsible
for identifying and managing projects. Back then a budget of $2B. Sounds like a perfect match for us
but do have some concerns. Pallinghurst group also has a deal with the Quebec government over the Whabouchi
pegmatites (Namaska). With the Parent company of Traxys being the Carlyle group with deep pockets and influence I
would not support any takeover bid without realizing our full potential.............as that is something they do. Welcome thoughts