Ann: Ceramic Tile Conference Presentation, page-6

In relation to Zircon, Andromeda states in its Q4-2023 Quarterly report (page 4) that the final report was received for its CRM product validation program. There it report their product supports a 10-15% reduction of zircon in the ultra white and super-white ceramic slab segments. They've now improved that figure from 10-18%

Zircon pricing in this presentation is using a rounded figure. Iluka's December-2023 quarterly reported a weighted average zircon price at USD $2,045/t translating to a price tag of approximate AUD $3,000/t. A Bridgestreet Capital research report (dated August-2023) for SFX.ax, considered a long-term Zircon spot price of USD $1,750/t (AUD$2,685/t)