Turquoise Hill Resources Ltd. provided Oyu Tolgoi Mine update. All technical undercut readiness activities have been completed or are on-track for completion, and Oyu Tolgoi has been ready from a technical perspective to commence the undercut since July 2021. However, undercut commencement remains delayed and is pending resolution of certain non-technical undercut criteria, including the support of all OT Board directors to increase the underground development capital and to commence discussions with the project finance lenders, obtaining outstanding, required regulatory approvals and to agree on a pathway to meet OT's long-term power requirements. During Third Quarter 2021, underground development progress continued to be significantly impacted by the COVID-19 constraints on-site and in Mongolia, including restrictions on movement of both domestic and international expertise. Despite these on-going constraints, breakthrough of the conveyor decline was achieved in August 2021, and breakthrough of the service decline is forecast by the end of October 2021. Material Handling System 1 ("MHS1") is almost complete; its construction is currently scheduled for completion by the end of October 2021, and its commissioning is scheduled for completion by the end of January 2022. Construction of the first on-footprint truck chute is well advanced and currently forecast to be completed by February 2022. Completion of both MHS1 and the first on-footprint truck chute is broadly in-line with the Definitive Estimate, which is an excellent result given the challenging circumstances. Nevertheless, given the cumulative and on-going impacts of COVID-19, continued delayed commitments resulting from the Definitive Estimate not yet having received the support of all directors of the Oyu Tolgoi Board, as well as the outstanding unresolved non-technical undercut issues, the Company now expects sustainable production for Panel 0 to be delayed until at least January 2023. Progress on Shafts 3 and 4 has been impacted by quarantine requirements and international travel restrictions related to COVID-19, and no significant development progress on these shafts was made during Third Quarter 2021. Consequently, Oyu Tolgoi has advised that a 9-month delay on Shafts 3 and 4 is currently forecast which, in combination with the reduced underground development progress, will result in delays to the start of Panel 2. Sinking of Shaft 4 recommenced in mid-October, and preparatory work for Shaft 3 sinking is continuing. Study work continues on Panels 1 and 2 with future mine design refinements expected to reflect the learnings from Panel 0.