Fixed Price - The fixed price element is critical in that it...

Fixed Price - The fixed price element is critical in that it minimises the cost overrun risks to the Company.

- Independent/private transport links and pipelines - approximately US$708.9 million is allocated to build transportation links and utility pipelines, which will make the Kola Project self-reliant without the need for state infrastructure. The Company believe this will be a critical advantage compared to other potash projects around the world.

- Penalties for going slow/Incentives for going fast - The EPC includes provisions for penalties in the event of delayed completion and bonuses in the event of early completion as detailed further below.

- Risk mitigation (This is crucial in a major project like this). they state they have sought to control the following risks to the project - Capital cost overruns, Time to completion overruns, Achievement of product quality specifications for our target markets, Operator risk.

- Our partner is a major global company with a wealth of experience in similar projects - PowerChina has proven potash mine expertise. PowerChina is a Fortune 500 company and ranks as the 105th largest company in the world. It is 6th largest company among the top 250 Global Contractors (ENR Rank 2023). PowerChina has vast mine design and construction expertise which include 148 complete mining projects in 40 countries totalling US$20.37 billion, plus an additional US$7.8 billion under ongoing construction.

- Operator Proposal Received (a big positive if the terms are favourable) - Kore Potash is also pleased to have received a non-binding indicative operator proposal from PowerChina in connection with the operation of the Kola Project ("Operator Proposal"). PowerChina has significant experience as a third-party operator of a potash mine, process plant, ports, etc., and has proposed that existing resources be deployed to operate the entire Kola Project operation, which could potentially lead to cost savings for Kore Potash.

- Early Work Agreement to commence preparation construction actvity immediately - To accelerate progress during the financing process, Kore Potash and PowerChina have committed to an Early Works Agreement, which forms part of the EPC and is targeted to be completed within 6 months of signing. Kore Potash will pay US$5 million to PowerChina as part of the total EPC Contract Price[4] to undertake supplementary geological work, consisting of drilling at the shaft works and marine works locations and additional Front-End Engineering Design ("FEED") relating to the mining section shaft works. This will enable construction to commence after signing a full set of legally binding financial agreements ("Financial Close").

Load the truck boys and girls.