Ann: Options Offer to Existing Listed Option Holders, page-38

Hi PTP

This is an extremely valuable and encouraging presentation with its wording carefully crafted.

My interest was piqued through the good Dr T continually referring to when/following/after the MND results are released there is a good chance of a partnering or licensing deal or a corporate sale. Nowhere in Dr T's commentary did he mention "if the", "should the", "based on", "subject to the" results being positive. All focus was on when MND results (meaning positive) are released. This is a complete change to positive wording which to me, without DR T giving the game away, signifies Dr T at least knows the MND results WILL BE POSITIVE and force the hand of BP to take a position.

His throw away line of a corporate sale seems to have been included an a means of what's in store. Remember the PAA "group" has been slimmed down and cleansed of its ancillary operations and manpower so a buyout would be extremely simple and straight forward. In addition the new options deal, as well as leveling the playing field with the previous CR participants, provides enough cash for PAA to continue to operate and release the full MND results before any BP take a position thus "maximizing" PAA's potential value .

My 2 bob's worth therefore in is on a corporate sale early 2024 (and the R&R oppy holders get to participate!!!

Go Dr T.