Thunderbird Construction Approaching 90% Complete

Highlights:

• Construction activities are rapidly approaching 90% complete, with expected cost outcomes within the original planned $484m budget
• Installation of major equipment including spirals, WHIMS, piping and electrical progressing well
• Clearing and grubbing activities commenced by waste mining contractor, ahead of expected commencement of waste mining in Q3 2023
• Operational readiness well advanced with progressive recruitment of key leadership personnel across all operational disciplines
• Over 750,000 project labour hours completed LTI free
• First delivery of mineral sands products to customers remains on target for Q1 2024