VOTE NO AGM 2023 RESOLUTION 1-5...... NO, page-646

SYA were certainly not gifted either of NAL or Moblan.

• They bought NAL right before Lithium became a highly desirable commodity, and were simply put, the highest bidder.
• In regards to SYA's acquisition of Moblan - it was a terrific acquisition in hindsight. However, relative to lithium valuations at the time, they paid quite a steep price imo. Now it's certainly worth more than what they paid for it now, but back then, I think they paid a more than generous amount to acquire it.

Also, please re-read the offtake. It never, ever, ceases. Instead, the ore is re-prioritised. That's a key point, as if the Carb Plant is sized to take 180 ktpa, and the spodumene mine can produce 220 ktpa, then that surplus 40 ktpa would go straight to PLL at a US$900/tonne SC6 ceiling.