Update on Sconi Project Offtake Discussions, page-5

Appendix 1: Key Terms of Mr Andrew Nesbitt Executive Service Agreement Position Chief Executive Officer Commencement Date 2 October 2023 Salary (Total Fixed Remuneration (TFR)) A$283,050 per annum inclusive of minimum superannuation contributions as prescribed under legislation from to time (currently 11%) up to the maximum contribution base. Short Term Incentive Mr Nesbitt is eligible to participate in any shortterm incentive (“STI” that may be made at the discretion of the Board. If awarded, the STIs will comprise an amount equal to 30% of the annual base Salary of Mr Nesbitt. The STIs will be payable via cash or equity, at the election of the Company in consultation with Mr Nesbitt and will be subject to achievement of Key Performance Indicators (“KPI” to be determined from time to time by the Board. Any payment to be made via the issue of equity securities will be subject to shareholder approval.