Ann: Binding Offtake with Leading U.S. Fertiliser Company, page-66

Comparative Criteria		UOM	RWD	AMN
SOI	22-Apr-22	Millions	195.2	287.4
Share price	22-Apr-22	A$	0.13	0.59
Market cap	22-Apr-22	A$-millions	25.4	169.6
SOP pricing	PFS/DFS	US$/tonne-FOB	500	500
NPV8	Post tax	A$-millions	293	1000
IRR		%	14.9	21
EBITDA	Per yr	A$-millions	118	220
EBITDA	Margin	%	42	66
EBITDA	Per SOI	A$/SOI	0.60	0.77
SP/EBITDA per SOI		SP under valuation-%	0.22	0.77
Cash cost (AISC)	Per tonne FOB	$	394	159*
Pre-production capex		A$-millions	450	640
Post tax payback		Years	?	4.2
Reserve	Contained SOP	Tonnes-millions	0	20
Resource	Drainable SOP	Tonnes-millions	153	123
Production	Per annum	Tonnes-thousands	400	450
Road haulage		Kilometres	860	940
Logistics chain		Lake to ship	Mine	Full
PFS		Date	May-18	-
DFS		Date	-	Jul-20
ITR	Bechtel/Worley	Date	Mar-21	Apr-21
Offtake commitments (70%)		Date	Nil	Q2, 2022
FEED completion		Date		Q3, 2022**
EIA approvals		Date	Yes	Q3, 2022**
FID		Date		Q3, 2022**
NAIF			Yes	In progress
Major project status			Yes	Yes
* **	Inclusive of road, rail and port costs Forecast

@@sevo I attach a table of comparative criteria and was hoping you could review and either provide an update/confirm so that we have a real comparison for analysis purposes.