Ann: Projects Update, page-5

Hi all,

Agreed, strange order of proceedings and grey "fluff" updates/communication.

Consider also the following :

Hosted a site visit and received a formal approach from an existing sapphire optics customer to purchase >100% of forecast 2026 sapphire production.

- at what capacity ? (ie the current 2 units or the proposed phase-B levels of up to 48 units)
- formal approach/enquiry/letter of intent . . . . . . we need confirmed sales.

I guess all will be revealed by next week at the latest as per the FID/grant terms. I assume developments here (if proceeding) would possible trigger revised financial estimates given a sizeable impact on the company ?

Cheers