Ann: Quarterly Activities Report, page-3

Highlights: Mt Marion Lithium Project  Beneficiation plant primary and secondary DMC circuit construction completed  Beneficiation plant commissioning continued, first production achieved  ‘Pacific Venus’ vessel booked for first shipment, laycan of 2nd‐5th February Lithium Hydroxide Project  Progressed study with Mineral Resources for determining feasibility of producing 20,000tpa LCE Lithium Hydroxide in Eastern Goldfields of WA Barrambie Titanium Project  Titanium test work completed  Process design improvements identified and successfully tested  Evaluation of process design improvement commenced Neomet Process Commercialisation with Sedgman  Maiden third party test work commenced December 2016 Corporate  Cash and restricted access term deposits $61.28 million  Listed securities $11.5 million