Ann: Metallurgical and Chemical Consultant Appointment Reung Kiet, page-5

Good to see management provide more updates on what is going on behind the scenes and put out non-price sensitive announcements to keep shareholders updated.

Promising steps forward by getting together a well qualified team. Met work is important and PAM are ticking all the boxes. Paul mentioned they are working towards the PFS so getting the best people together for it is great.

Sharing my summary when getting my head wrapped around the update.

Grant Harman - from Lithium Consultants Australasia. Steering PAM's lepidolite concentrate test work. Metallurgical and chemical engineering advisor to design and oversee test work to product battery grade lithium chemicals. They will assist in flowsheet design, development, engineering consultants, and costings work for the feasibility study.

Dr Evan Kirby - from Metallurgical Management Services with 45 years experience in minerals testing and feasibility work. PAM's metallurgical advisor and representative when working with BGRIMM.

BGRIMM - lepidolite lithium mineralisation expert. Integrated and state of the art facilities to provide PAM with a one stop shop for its metallurgical requirements to produce lithium chemical and extract valuable by-products. They have Engineering, Procurement and Construction (EPC) capabilities so they can help get all the infrastructure created for PAM.

What has been done?

• Completed preliminary studies of available process flowsheets relevant to lepidolite
• Hired Grant Harman to steer the lepidolite concentrate test work and provide inputs for the feasibility study

What is coming?

• Beneficiation test work with BGRIMM underway with the initial results available in the near term - hopefully results announced in April
• Processing test work to commence in BGRIMM