Ann: JV Update and Updated Executive Agreement, page-7

Development of the proposed refinery - strong hint hint, not development of the mine and concentrator and investigating a proposed refinery

In addition, David English joins WAL as its Project Director, responsible for overseeing the development of the proposed lithium mine, concentrator and refinery in conjunction with the Company and SQM. David has a broad range of mining industry experience including senior management roles with Midwest Vanadium, BHP Nickelwest, Alcoa Australia and the Boddington Gold Mine. David holds a Bachelor of Engineering (Honours) and a Master in Leadership Management from Curtin University, WA.