Ann: Tripartite LOI Update, page-279

This is not a coincidence. The focus of this presentation is green anodes and this was explicitly mentioned in the Tripartite LOI Update: "Talga continues to pursue existing and new financing and partnership opportunitiesarising from the strong global demand outlook for green battery anode."

With VW actively pursuing a low-carbon supply chain as they transition to EVs, other EU manufacturers will as well. This will put Talga in a fabulous position as what competitors are out there with the potential to supply large amounts of green anode? We all want clarity on Talga's future (e.g., permits, JV, financing, etc) but not rushing in to a less than optimal deal is probably what Mark had to decide. Waiting will only put Talga in a better bargaining position.