Ann: Key Leadership Appointments, page-14

I apologise for the delay in responding. I contacted BC before the announcement and he mentioned he would call after it was made. I plan to call him tomorrow and hope he is available.

It is encouraging to see the company making progress and I am confident that the Yellow Phosphorus project will be successfully realised. I anticipate that the feasibility study will be followed soon by the environmental approval required by the NT government which I hope will proceed smoothly.

My primary concerns revolve around governance, the majority stake in the company, and the implications of Hebang potentially owning more than 20% of the company. This could affect the LFP side of operations, particularly in light of the Inflation Reduction Act, among other factors.I hope to gain some clarity on these matters during my discussion with BC.