Ann: CEO Update, page-25

Benchmark Minerals -

Put very simply - Electric car sales are smashing records every month. The fundamentals are superb.

Meanwhile, the supply chain is gearing up for an even much larger boom in EV sales as the Benchmark Minerals megafactories tracker now stands at 50.

We were the only company at the time tracking these super battery plants. Today we are at 50 megafactories worldwide. We do not expect this battery arms race to slow down anytime soon..... This is an incredible situation that is having a profound impact on the key battery raw materials of lithium, cobalt, graphite anode and nickel. It has ushered in a new era for 21st century commodities.