A few very important points from the March Quarterly...

A few very important points from the March Quarterly Report:

"CORPORATE:

• On 16 February 2021, Jeffery McGlinn was appointed a Non-Executive Director.

• Andrew Teo on 19 March 2021, relinquished his Non-Executive Chairman’s role to become
Managing Director of the Company. Jeffery McGlinn agreed to undertake the vacant role of NonExecutive Chairman.

• During the quarter, the Board declared an unfranked interim dividend of A$0.05 per fully paid ordinary
share, which was paid to shareholders on 31 March 2021.

• On 26 March 2021, The Philippine Government enacted “The Republic Act No 11534”, known as the
Corporate Recovery and Tax Incentives for Enterprises (“CREATE” Law) retroactive to 1 July 2020.
Included in the provisions of this law, is a reduction in the rate of corporate tax from 30% to 25%.

• Subsequent to quarter’s end, President Rodrigo Duterte of the Philippines signed Executive Order
No. 130 aimed at implementing reforms in the Philippine mining sector and lifting a moratorium on
the signing of new mining agreements. Medusa welcomes this positive development for the
Philippines mining industry.

• Subsequent to quarter end, Medusa on 16 April 2021, advised that its Philippines affiliate Philsaga
Mining Corporation, had executed a contract for the ‘Tigerway’ Decline Project for its Co-O Gold Mine
with a Philippines contractor, Mount Rock Powder Corporation."

In my opinion these are all significant developments going forward.

DYOR