Ann: Notice of ceasing to be a substantial holder, page-3

Possibly but its not a huge number of shares sold, around 4.5m. Still it would have added a bit of selling pressure. Back on the 29th Mar 2022 Phiem Asset Management held 67.4m EQR shares. It is possible we have a long way to go if they are unloading the lot.

Other selling pressure could be the entities that converted the options over the quarter which brought in $520k to the cash balance quite possibly were selling to raise funds above 4/6c to fund the conversions.

1st May 2023 2m options at 4c converted

16th May 2023 3m options at 6c converted

26th June 2023 3m options at 6c converted

26th June 2023 2m options at 4c converted