Ann: Quarterly Activity Report - Q3 FY25, page-17

I am with you. Solid report and l can see MINRES becoming more transparent around the detail of its operations.

• Reduced headcount by 1,700 people. OPEX cost saving in the order of $300M.
• There will be no capital raise.
• Liquidity sitting at over $1B.
• 3.6MT out of Onslow was just as expected.
• The last transhipper arrives on schedule in May.
• Onslow ramp up to hit 2.7M Tonnes per month in Q3 Calander 2025
• All prime movers currently on site are fitted with autonomous technology. Testing has commenced

26M shares shorted for 13.45%. Iron ore price holding very nicely.