Ann: Poseidon and Kidman Sign Lake Johnston Lease Agreement, page-3

POSEIDON & KIDMAN SIGN LAKE JOHNSTON LEASE AGREEMENT Highlights • Poseidon enters into an exclusive Option Deed with Kidman to process Mt Holland lithium ore at Lake Johnston • Forecast throughput is estimated to be between 1.0 to 1.5MTPA to produce over 200,000 tonnes per annum of 6% spodumene concentrate • Kidman to pay Poseidon $500,000 for the exclusive Option • Upon exercising the Option Kidman will refurbish the Lake Johnston facility at their cost • Poseidon will receive a minimum of $6M per year for 3 years during production • Kidman and Poseidon take full advantage of the bullish lithium market • Engineering design progressing • Establishes Lake Johnston as a spodumene concentrate producer • Poseidon and Kidman will collaborate on downstream processing options