Ann: Non-binding MOU executed to build & operate hydroxide plant, page-40

The most important is that EUR gets two options at once. 1) Full cycle in Europe, with higher energy costs, but potentially available financing at hopefully subsidized rates from European financial institutions, maybe local transition funds. 2) processing in Saudi Arabia with lower energy costs, but what financing conditions Saudi Arabia can provide? Countries compete for such large and important industrial projects, like a hydroxide plant, with incentives for investors, for example, subsidies, tax benefits, cheaper financing etc. I don't mind, if EU and Saudi Arabia will compete for the Wolfsberg project providing more benefits and support for EUR/CM)