Ann: Appendix 3B, page-2

Question is, are we going to start with 2,000tpa or go straight to 10,000tpa.... keen to find out

The SARs will vest as follows:
• Tranche 1 (1,500,000 SARs): to vest immediately;
• Tranche 2 (3,500,000 SARs): to vest upon the Company obtaining the full funding
required to develop the commercial scale stage of the Rincon Lithium Project as determined by the Board subject to the consultant/employee remaining employed/engaged as a consultant on the vesting date;
If full funding for the development of the commercial scale stage cannot be secured in the first instance, the vesting conditions for Tranche 2 (3,500,000 SARs) will be as follows:
 1,500,000 SARS to vest upon the Company securing funding for the construction of
a processing plant with capacity of 2,000tpa LCE product subject to the consultant/employee remaining employed/engaged as a consultant on the vesting date;
 2,000,000 SARs to vest upon the Company securing funding for the development of the commercial scale stage (being an operation of 10,000tpa LCE product) subject to the consultant/employee remaining employed/engaged as a consultant on the vesting date.