Ann: September 2022 Quarterly Activities Report, page-123

Great result,dividend policy coming, 20% of current MC in profits p.a, Cailix getting finalised in the next couple weeks, renegotiation of contracts well within sight and added value coming from POSCO in the foreseeable future. When I read the report I said to my son in law there will be some disappointment but seriously what’s not to like about producing at a time of unbelievable Spod prices and being more than a step ahead of the rest. $5.50 SP well undervalued with easy 50% upside doing ruler comparisons with the likes of SQM and Albemarle. LTR up 5% today and what guarantee is there for Spod pricing will still be at these levels in a few years when they reach production. Invest in the best and be smarter than the rest.