Ann: Long-term incentive for Chief Executive Officer, page-2

Could someone explain the following for tranche 2 please?
Do the 2 conditions mean the 20 day or 45 day VWAPs can occur at any time within the stated periods? and/or can the options be vested at any time within the periods, once the VWAP conditions have been met?

From the Announcement.

TRANCHE 2 895,863 A$0.48 (25%premium to 30-dayVWAP to 26 May2022) 26 May 2027

• Closing 20-day Volume Weighted Average Price (VWAP) of A$0.90 commencing 1 January2023 until 31 December 2024, or

• Closing 45-day VWAP of A $0.90 until 31 December 2022


Cheers