Dear Investor,

Exciting news from the Lake Hope High Purity Alumina (HPA) Project in Western Australia! A maiden measured resource of 730,000 tonnes at 25.8% alumina (Al₂O₃), containing 189,000 tonnes of alumina, has been defined. This resource supports at least 15 years of proposed HPA production and paves the way for a maiden reserve, subject to ongoing mining studies and pre-feasibility work. The project aims to deliver low-cost, high-margin HPA products to meet the growing global demand, with current benchmark prices exceeding US$20,000 per tonne. The pre-feasibility study is on track for completion in Q1 2025, with final contractor reports expected by January. Additionally, a $2.87 million Federal Government grant will help fast-track the construction of a pilot plant, with funds set to arrive by November. Stay tuned for more updates as this transformative project progresses!