•• Flinders to immediately engage in project development...

•• Flinders to immediately engage in project development discussions with
third parties
••Citigroup Global Markets Australia Pty Limited (“Citi”)/ Adelaide Equity
Partners retained to assist Flinders
••Pilbara Iron Ore Project (“PIOP”) of significant strategic importance
•• Flinders free from key obligations under the now-terminated Scheme
Implementation Agreement (“SIA”) with Magnitogorsk Iron and Steel
Works OJSC (“MMK”)
•• Flinders continues to monitor the situation with MMK and will take action
to enforce any rights it may have under the SIA, as appropriate