I NTE RIM RE SU L T S FY20 2 0 Agr eeme n t t o r ol l o wner ship op ti on App r o v als r eq uir ed t o s t art the pr oject Of ft ak e ag r ee ment DF S an d op ti on t o i ncr eas e o wner sh i p W a t erber g pr oject pr ogr ess 26 DFS Do c u m en t sch ed u les an d m odels d elivered to t h e JV p artn ers d u ring S ep te m b er 20 19 I m p lats h as u n til m id A p ril 2 02 0 to exerc ise th e o p tion to in c rease ow n ership to 5 001 Th is wi ll trigge r an estim ate d R 8 3b n c ap ital exp os u re to b reak eve n R05b n eq u it y p u rch ase f ro m JOGM EG R2b n f irst p ro je c t c ap it al ea rn in R58 b n p ro je c t sh are d 50 of c ap it al t o b re ak even I R S p ro vide d te rms in N ov em b er 20 19 JV p artn ers to c onside r m ay seek b et te r te rms I R S h as opt io n to m atc h I m p lats p ro p os ed to e xten d th e o p tion trigge r d ate u n til M in in g Rig h t is re c eived Imp lat s giv es n ot ic e of it s d ecision on t h e own er sh ip op t ion I m p lats wi ll u se th is tim e to fi rm u p on feasibility ass u m p tions an d de risk im p lem e n ta tion p rogram m e I m p lats to c ov er p ro jec t exp en d itu re u n til option de c isi on is m ad e SLP sub m itte d Augu st 20 18 outstan d ing WU L c om m e n c e d Au gu st 2 0 1 9 out stan d in g Min ing R igh t sub m itte d Augu st 20 18 outstan d ing