Ann: Key milestone of 99.99% (4N) HPA achieved at the Lake Hope, page-2

Good result in my book.
• Better than 99.99% (4N+) High Purity Alumina (Al2O3) produced from Lake Hope mud via the proprietary and patented Playa One Sulphate Process. • The Sulphate Process underpins the recent Scoping Study, which demonstrated an NPV8 of A$1.3 billion for the project and an estimated operating cost to produce 4N HPA up to 50% lower than anyone else globally at less than US$4,000 per tonne. • Production of larger quantities of HPA can now commence using the now-optimized Sulphate Process to demonstrate consistent quality to potential customers. • Preliminary discussions with potential customers indicate very strong demand for 4N HPA. • Other possible process routes to produce HPA from Lake Hope may be possible, with initial results due shortly. • The Pre-Feasibility is on schedule to be completed in late 2024.