The Terms Sheet provides OZ Minerals with a study period of up...

The Terms Sheet provides OZ Minerals with a study period of up to 18 months (Option and Alliance
Period) to evaluate the potential of the Kalkaroo project and the option to acquire 100 per cent of
the Kalkaroo project (Kalkaroo Option) for a purchase price of $205 million. OZ Minerals may elect
| to not exercise the Kalkaroo Option at any time during the Option and Alliance Period provided
5,000 metres have been drilled or a shortfall payment (metres not drilled multiplied by $400) is paid
to Havilah. In addition, the agreement provides a deferred contingent consideration of
$65 million, upon a 30% uplift in Kalkaroo’s Measured and Indicated Resource estimate as well as a
copper price linked contingent payment in each year of production up to a maximum cumulative
amount of $135 million.