Ann: March 2018 Quarterly Cashflow Report, page-2

Earl Grey Combined Mineral Resource Update As noted above, Kidman announced a 54% increase in the combined MRE of Earl Grey during the quarter, which is now estimated to contain 189 million tonnes of 1.50% Li2O, or 7.03 million tonnes of LCE. This is a high confidence estimate with 91% of the estimate classified as Measured or Indicated. As set out below, this MRE confirms Earl Grey’s position as one of the world’s most significant hard rock lithium deposits: Based on the mine and concentrator scoping study released on 3 October 2017, Earl Grey is expected to be in the first quartile of the global hard rock cost curve. Contributing features of that study included:  Low strip ratio of 2.3 reducing to 1.9 after pre-strip  Flat lying geometry with high grade mineralisation and increasing thickness at depth  Expected spodumene concentrate grade of ~5.8 to 6.0% Li2O  Expected spodumene concentrator yield of ~60 to 85%  Brownfield site 400km from Perth with electricity, water, rail and road infrastructure  Lead Agency Service granted by Western Australia Government At the time of the announcement, Kidman’s Managing Director and CEO, Martin Donohue, commented: “Today’s announcement firmly positions Earl Grey as a Tier-1 globally significant hard rock lithium deposit. Importantly, the expanded Exploration Target within Kidman’s highly strategic Forrestania landholding, where multiple pegmatite targets remain to be tested, provides continued upside.”