Relevant Excerpts from Lake Update Webinars, page-318

The next topic covers David's view on the instability in the Argentinian economy and any effect it may have on the business
Sourced from Update Webinar #3 on 31/10/23
Commentary made by David Dickson - CEO/Managing Director

David’s thoughts on the instability in the Argentinian economy and the effect on the business
DD: "The biggest thing that has happened is with the exchange rate and, as most people know, Argentina runs with two exchange rates - the one which we refer to as the “blue chip” is obviously seeing it run all the way up to nearly 1000 pesos per dollar - that actually helps our business but it’s also going to be short lived. Also, I think as we look at it from our side, and I've said this many times before, today we are not spending a lot of money in Argentina and so the financial impact to us or the financial risk to us as a Company is fairly minimal. Certainly, that may change once we get to post FID and we'll start to look at investing dollars in the Country. Certainly, we'll see what happens post-election and then obviously for us we've still got quite a period of time before we start to invest in the Country. So that'll give a time for whoever the incumbent is (or whoever wins the election) to come in and hopefully we'll see some settling or hopefully things will calm down and they will get focused back to managing the country."