Ann: Scheme Booklet registered with ASIC, page-21

13.1.2. The tenure issues at Yarrabubba will be resolved

As outlined in Section 5 of our Report, the Yarrabubba deposit is surrounded by AVL’s tenure. The
Company, as detailed in the Scheme Booklet, has investigated acquiring additional tenure next to the
Yarrabubba deposit to advance the mining schedule for Yarrabubba. TMT has held informal meetings with
a number of local parties, but no outcome has been achieved to date. If TMT is unable to acquire
additional tenure, TMT, as a result, may be unable to fully optimise the development of Yarrabubba,
particularly in regard to waste management.
TMT anticipates that the Company will still need supporting tenure to traverse AVL’s existing tenure and
an access agreement with AVL to use the additional tenure. Previously, the Company agreed on an access
agreement with AVL to facilitate the ore haulage from Yarrabubba to the proposed processing facility
located at the **anintha hub. If the Scheme is approved, the tenure constraints of Yarrabubba currently
faced by TMT, including waste management and ore haulage, will be immediately resolved.