Ann: 1Q FY24 Quarterly Report & Appendix 5B, page-108

The point re a future capital raise may well now be moot. But the questions that you asked in your previous post are still valid. You should seek to clarify these with TPD management and provide the answers. These questions that you ask about TPD reflect a frustration more about TPD than STX. As shareholder of both companies the clear point of difference between the two is quite simply I can see a vision to where things are heading with STX but with TPD I do not. I suspect that, in part, these were some of the reasons why major shareholders in TPD strongly supported pushing for the SOA right from the very beginning. Personally I do not believe there will be a suitor for TPD, and STX have already stated no further increase to their offer. So where does that leave us TPD shareholders? Well…… we have all those unanswered questions that you raised, we have a cloudy vision going forward, we have BOD and senior management and major shareholders backing the SOA. To be fair we still have Walyering production so that is a good foundation for the future. It really seems to me that the no voters within TPD are clinging to the hope that the Independent valuer will give the thumbs down on the valuation. One thing that you and I agree on is that if the SOA does fail both BOD and management of TPD will need to move on! I believe the valuers report should be out soon? Do you recall the timing?