Australian Potash Limited provided the following update on the development of the Lake Wells Sulphate of Potash Project (LSOP) and scheduled activities for fourth quarter 2021. Work is continuing on the development of the western and southern borefields. A total of 11 new bores have been drilled in this current program, of the 76 new bores scheduled to be developed through Project construction. A further three (3) existing brine production bores make up the balance of the 79 brine bores in the optimised borefield design coming out of the LSOP Front End Engineering Design Study. On the current schedule, it is anticipated that by the end of the December 2021 quarter, 60% of the production borefield capacity, by volume, will be established. A program of step rate testing commenced within the past week to obtain information on the condition and efficiency of selected production bores drilled in this program. Constant rate testing is planned to assist in determining bore yields. APC have engaged Corey Milne as a specialist consultant, specifically in the field of SOP production from brine. Corey has over 30 years' experience in the operation of brine filled solar concentration/harvest ponds and processing to produce SOP. Corey will provide an overview of both the LSOP's development pathway and operational aspects. Corey's expert knowledge will add considerable depth to the APC team and continue the de-risking strategy around implementation and operation of the Lake Wells Project. A heritage survey was conducted in the last week of September 2021 with heritage consultants and Traditional Custodians. Building on the previous ethnographic surveys, this survey was conducted to assist with preparing site avoidance and management strategies, if and where applicable, at the LSOP. No sites of cultural significance were identified across the proposed development areas surveyed. A program to salvage a large quantity of sandalwood where the harvest ponds will be constructed at Lake Wells was also conducted during September. The works were undertaken by Yonga Djena, a local indigenous company. APC assisted with the works by providing ablution facilities and raw water supply. A piece of sandalwood from Lake Wells will be procured from the Forest Products Commission to be mounted and displayed at the APC head office. On 11 October 2021, three Mining Leases (M38/1287, M38/1288, M38/1289) were granted. The following activities are scheduled for fourth quarter 2021: Continuation of bore drilling program; Earthworks relating to access and drill pad preparation; and Documentary close on the development debt program.