Ann: Results of Meeting, page-2

At the AGM held today, JW clearly set out the sequence of events that will occur prior to the commencement of construction.

Step 1: Lithium offtake agreement in 2021Q4.

Step 2: Debt funding commitments.

Step 3: Determine equity funding component (including possible strategic investors and SH contribution).

Some commenters on HC regularly warning of a possible future CR. Informed investors are already aware that the CR completed in May 2021 (required to fund the FEED and ordering of long lead-time items) was just the first portion of the expected investor contribution. A second opportunity for SHs to participate in P1P funding was always in the plan.

When HC commenters "warn" of a pending CR, informed investors will likely just roll their eyes (again).