Ann: Clarification of Joint Venture & Debt Fundin, page-2

re: Ann: Clarification of Joint Venture & Deb... Do we stay in trading halt until the 31st now?

Good to see they have formed a JV committee also

CK

The Company seeks to clarify the
operation of the Reinstatement Deed, being the agreement which reinstates the Asset Sale
Agreement and Joint Venture. All the conditions precedent to the Reinstatement Deed have
been satisfied, apart from the execution and delivery of documents relating to the assignment of
two sub-leases in connection with the Cockatoo Island operations. The completion date for
execution and delivery of outstanding documentation relating to these assignments was
originally 31 May 2013, however, this has been extended to 31 August 2013 pursuant to the
terms and conditions of the Reinstatement Deed.