AGM questions

I will submit the following questions, posted here as a guide for now: I have recieved many of these to date from other shareholders, so I have summarised them here. Some are quite direct, but given the current state of play they must be asked?

1. 600m a guarantee or loan Euler hemes, Gavin is calling this a loan in the Sydney mining conference, yet it says guarantee on announcements. Could we have clarity please?

2. Did Gavin Lockyer or anyone in ARU stand to benefit personally from this Sydney Mining conference?

3. When will the offtakes be announced? Why are we not asking partners to come clean with timelines?

4. Who are the shorters? Have they asked for shares from ARU management? When offering the $500M (mkt cap), is this not the same instos we sold to (potentially shorters) that we sold to in the last few capital raises… were we played?

5. What are the plans, the genuine timeline going forward, the KPI to ensure we stay the course. Why are shareholders listening to Sydney mining conference to get an update of timelines? For example the offtakes in quarter 1 2024. We were recently told that these offtakes were all this year.

6. Why a share incentive plans introduced at this stage, rewarding the lack of success and decrease in shareholder value both in dilution that didn’t allow shareholders full entitlement and also significant decline in share price. Do you believe this could be seen as insulting?

7. Why would Gavin Lockyer allow shorters know we are looking for equal to our market cap in shares publicly? Can you see the risk this has created, particularly as shorters can now approach to buy back existing 145M, and could increase shorts therefore subsequently increase dilution of our value.

8. Following from question 8, if the response suggest no dilution effect. Therefore, management suggest the SP will increase. It follows then. Could ARU not buy on market at these low levels? Particularly if confident of raising further capital at higher prices later. In effect reducing the impact of shorters.

9. Who vet Gavin’s Lockyer’s speech in the recent Sydney mining conference?

10. What has management completed or progressed with the ASX/ ASIC with regard to market manipulation? The majority of the days are above 25% short. This impacts credit raising and fair market order, so what has ARU done to bring our company back into a position that is not been illegally manipulated? Who is responsible for taking note and reporting of this manipulation?

11. From all the new staff, recent recruiting, who has taken the role of shareholder relations. There is a real disconnect with communication and working for shareholders best interest. Particularly with regard to minority/retail shareholders that have very little power, and have often overlooked in historic dealings (records of this can be provided if requested). Is this something that could be considered?

12. Government support: Given ARU difficulty in closing finance, has the government been approached to increase their loan or support with negotiations. If so, what is the initial response?

13. With hindsight, have we placed the cart before the horse in the way we have increased the ARU labour force and gone full steam ahead on pre-construction, without any signs of financial close. Particularly as Gavin has noted and ARU have extended offtake out to first quarter 2024, and yet this was also suggested in 2022, so casting doubts on these dates. Should we reduce costs (labour and restrict pre-construction) immediately given our track record?