Khemisset Project Investment Highlights

LOWEST QUARTILE COSTS $US/Tonne 300 250 200 150 100 50 50 0 Khemisset - AISC net of US$30/t of salt credits AISC to CFR Brazil, by operation Khemisset ■Mining ■Processing ■Royalties, Sustaining Capital, and S,G&A Freight Net of Salt By Product Credit Source: Emmerson Feasibility study (Argus, June 2020) 11

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