Afternoon trading July 4, page-70

Ltr .....However, based on:
• the current Conversion Price of A$1.80;
• the principal amount of US$250 million (the initial face value, without including any amount for
capitalised interest) being converted;
• conversion being effected using a A$:US$ exchange rate of 0.66; and
• the current number of Shares on issue,
the maximum number of Shares that the Investor would be entitled to upon conversion of the Convertible
Notes is approximately 8.0% of all Shares currently on issue.