Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-7

• “As a matter of context, an approved Mining Licence for the Manono Project would have paved the way for AVZ to start developing what is arguably one of the most important new mining projects in the world, that would significantly contribute to the global green energy transition and would uplift the lives of the Congolese people, who would contribute and receive sustained benefits from the Project for many decades to come.

• “However, the Company has spent much of the June quarter instead engaged with the DRC Government to finalise the award of the Mining Licence and address confusion created by the Arbitration proceedings initiated by Jin Cheng. Despite these challenges, we remain confident of a positive outcome for our shareholders. “We regret that the period of voluntary suspension has lasted longer than wasinitially intended. However, it has been necessary as the subject of the Company’s initial trading halt request remains incomplete. “I look forward to updating shareholders and the market when a decision is made with respect to the granting of the Mining Licence.”

• The Ministerial Decree excluded a portion of the land holding to the north which will be required to be renewed under a 5-year “Permit de Research” (PR or Exploration Licence) to Dathcom, with discussions regarding the terms of the ongoing joint venture agreement on the PR to be finalised with the DRC Government in the future. These discussions are in addition to finalising the Collaboration Development Agreement with the DRC Council of Ministers to provide wide ranging support for the Manono Project. The Company requested a Trading Halt on 9 May 2022 pending the release of an announcement in relation to its mining and exploration rights for the Manono Project

these quotes are the most imporatnt to me from this announcement, imo