Ann: Disputes Update, page-5

Title Dispute

• AVZ partially successful in ICSID arbitration proceedings against DRC.
• DRC ordered to reinstate Dathcom's title to most of PR 13359.
• DRC not yet compliant with the order and AVZ seeking financial penalties.
• AVZ to file its statement of claim by March 20, 2024.

Dathcom JV Dispute

• AVZ obtained emergency orders restraining Cominière from terminating the JV agreement and from conducting exploration/mining activities within the boundaries of PR 13359 and PR 15775.
• AVZ seeking liquidation of accrued fines against Cominière for non-compliance with emergency orders.
• AVZ to file its statement of claim by April 30, 2024.
• Procedural hearing to determine jurisdiction in the Cominière and Jin Cheng claim against AVZI to be held on May 29, 2024.

Jin Cheng Dispute

• AVZ's jurisdictional challenge regarding the sale of 15% shares in Dathcom to Jin Cheng is still pending with the ICC tribunal.
• Based on the hearing and filings, AVZ remains confident about prevailing in this dispute.

Dathomir Dispute

• Jurisdictional challenge in the 2019 SPA Proceedings regarding AVZ's execution of the agreement on behalf of AVZI is pending with the ICC tribunal.
• AVZ obtained emergency measures in the 2020 SPA Proceedings requiring Dathomir to withdraw its application to wind up Dathcom.
• Dathomir has indicated it will withdraw the application at the next hearing.
• AVZ remains confident about prevailing in both the 2019 and 2020 SPA Proceedings.

Fat Tail Dispute

• Fat Tail suing AVZ and its directors for alleged oppressive conduct.
• AVZ denies the allegations and filed its defence against Fat Tail's lawsuit.
• AVZ considers Fat Tail's claims to be unsubstantiated.

Overall

AVZ is making progress in various disputes related to the Manono Project through arbitration proceedings. The company remains confident about its position in most cases.