CONICO LTD — Interim / Quarterly Report 2022

Apr 28, 2022

ASX Announcement

29 April 2022

March 2022 Quarterly Activities Report

Highlights

Ryberg Polymetallic Project, Greenland (100% owned)

==> picture [7 x 6] intentionally omitted <==

==> picture [7 x 6] intentionally omitted <==

==> picture [7 x 6] intentionally omitted <==

• Planning for the 2022 field season is at an advanced stage with drilling activities proposed to take place at multiple prospects. Proposals have been received from key contractors.

• The 2021 regional magnetic-radiometric survey has provided insight to the Miki and Sortekap magmatic sulphide prospects, and identified new prospects at Pyramid, Cascata, Quest and Qiterpiaaneq

• Nickel sulphides and vein-hosted gold was identified at Sortekap in 2021 drilling

Mestersvig Zn-Pb-Cu-Ag Project, Greenland (100% owned)

==> picture [7 x 6] intentionally omitted <==

==> picture [7 x 6] intentionally omitted <==

• Field activities are proposed for the 2022 field season.

• Drill rigs will be mobilised from Ryberg to Mestersvig and used to extend known mineralisation from the historic Blyklippen Zn-Pb mine, and assess the Sortebjerg Zn-PbCu, Nuldal Pb-Cu-Ag and Oksedal strata-bound sulphide prospects.

Mt Thirsty Ni-Co Project, Western Australia (50% owned)

==> picture [7 x 6] intentionally omitted <==

==> picture [7 x 6] intentionally omitted <==

• Project consolidation discussions continue with Greenstone Resources Ltd.

• Since the release of the PFS (Q1 2020), Co prices have increased by 33% and Ni by 108% significantly improving project economics.

Corporate

==> picture [7 x 6] intentionally omitted <==

• A placement was completed with a total of 150,032,231 ordinary fully paid shares at an issue price of 1.3 cents per share, for a total of $1,950,419 (before expenses).

Conico Ltd ABN 49 119 057 457 Level 15, 197 St George’s Terrace Perth, WA 6000 Australia

+61 (0)8 9282 5889 @conico_ltd info@conico.com.au @ConicoLtd www.conico.com.au conico-limited

==> picture [198 x 48] intentionally omitted <==

==> picture [426 x 241] intentionally omitted <==

Figure 1: Location map for Conico's Greenland Projects.

==> picture [425 x 160] intentionally omitted <==

==> picture [425 x 160] intentionally omitted <==

Figure 2: Geological map for the Mt Thirsty JV.

2 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

1. Exploration Activities

1.1. Ryberg Polymetallic Project, Greenland (100% owned)

• 1.1.1. Planning for 2022 Field Season

The Ryberg Polymetallic Project (Figure 1) covers 4,521km[2] on the east coast of Greenland, 365km west of Iceland. It contains multiple prospects that are prospective for accumulations of magmatic sulphide mineralisation, with known occurrences of Ni-Cu-Co-Pd-Au.

Planning for the 2022 field season at the Ryberg Project is at an advanced stage, following on from 2021 activities that consisted of drilling and a regional magnetic-radiometric survey. This year’s proposed exploration will consist of drilling only, and is set to commence in May, persisting until at least the end of July.

Conico personnel have focused on interpretation of existing data, particularly the inclusion of the 2021 magnetic-radiometric geophysical survey, to fine-tune drill locations for this year. This data was not available for the 2021 drill programme and has given considerable insight.

Contracts have been received from key logistical suppliers and personnel will be stationed on an onshore camp (Figure 3). Three diamond drill rigs and fuel are already on site, with only minimal equipment required to be imported, that will include a handheld XRF to aid mineralisation identification in real-time. Operational efficiency should improve this year due to the easing of Covid-19 related travel restrictions and more stable climatic conditions earlier in the year.

The Company has also increased its compliment of staff, welcoming exploration manager Thomas Sant to the team, and an additional four geologists. A laboratory in Ireland will also be utilised to improve assay turnaround, and a broadband internet terminal brought to site to ensure regular market updates can be provided from the field.

==> picture [425 x 242] intentionally omitted <==

Figure 3: The proposed onshore camp location for 2022 field activities.

3 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

1.1.2. Regional Magnetic-Radiometric Geophysical Survey

The 2021 regional magnetic-radiometric geophysical survey (Figure 4) was interpreted in the quarter and has provided a wealth of new information. The helicopter survey traversed 24,315 line kilometres in an E- W orientation at 200m line spacing, with tighter infill line spacing of 100m flown over the Miki and Sortekap Prospects.

The survey interpretation gave greater insights to existing prospects, Miki and Sortekap, identifying previously unknown structural and lithological trends. This data should assist with existing datasets to finetune drill targeting for 2022.

This survey identified new prospects, interpreted to be large-scale igneous intrusions and regional structures. These structures are deep-seated and are likely to extend to great depth within the Earth´s interior. This has implications for magma emplacement, acting as conduits for magma to reach close to, or at surface, which have the potential to be mineralised.

The largest of the newly identified prospects is referred to as Pyramid which manifests itself as a gossanous rock with a prominent magnetic signature. The majority of outcrop consists of sediments; however, the locations of the magnetic anomalies differ significantly and are interpreted as igneous intrusions. The magnetic data shows a zone of magnetite destruction immediately to the west of the larger southern intrusion that may indicate a zone of hydrothermal alteration. No surface sampling or drilling has occurred to date.

The second newly identified prospect is referred to as Quest, a roughly circular, pipe-like magnetic anomaly within a surface depression. It may represent an eroded mafic-ultramafic intrusion that is considered prospective for precious and base metals. Historic stream sediment sampling in the vicinity yielded anomalous results for chrome, nickel, and copper.

The third newly discovered prospect is referred to as Qiterpiaaneq, interpreted to be a pipe-like intrusion with a surface expression of ~15km[2] , dipping to the southeast. It lies adjacent to an interpreted crustalscale feature, adding further support to the interpretation that it is an intrusion that migrated up a major structure. Landsat 8 infrared bands indicate the presence of distinct clay-rich zones in the host lithologies that may indicate alteration associated with its emplacement. If Qiterpiaaneq does represent a large mafic-ultramafic intrusion, then it is prospective for precious and base metal magmatic sulphide mineralisation.

4 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

==> picture [427 x 471] intentionally omitted <==

----- Start of picture text -----

Qiterpiaaneq
Sortekap
Pyramid
Cascata
Miki
Quest
----- End of picture text -----

Figure 4: Total Magnetic Intensity received from the geophysics contractor, and all known prospects labelled.

1.1.3. Nickel Sulphide and Gold Mineralisation at Sortekap

The Sortekap Prospect contains mafic and ultramafic lithologies that were the subject of three diamond drill-holes in 2021, targeting an induced polarisation (IP) anomaly interpreted to represent a low angled fault. Drilling in SODD001 (Figure 5) intersected stringer and vein sulphide mineralisation containing anomalous nickel, copper, and cobalt within ultramafic rocks, while hole SODD003 intersected veinhosted gold mineralisation in amphibolite.

5 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

Noteworthy assays from Sortekap are as follows:

SODD001

• 11m @ 0.12% Ni & 0.008% Co from 81m

• 11m @ 0.11% Ni & 0.007% Co from 129m

• 8m @ 0.11% Ni & 0.008% Co from 158m

• 12m @ 0.12% Ni & 0.009% Co from 169m

• 28m @.0.18% Ni & 0.011% Co from 187m

• Including 15m @ 0.23% Ni & 0.013% Co from 195m

• 5m @ 0.15% Ni & 0.007% Co from 221m

• 3m @ 0.17% Ni & 0.008% Co from 234m

SODD003 (Sortekap)

• 1m @ 1.8g/t Au from 12m

The magnetic survey has identified the presence of a likely crustal-scale structure (deep seated fault) located near Sortekap. This has implications for nickel mineralisation, with en-echelon faults perhaps acting as conduits for sulphide melts. A magnetic high is present at Sortekap and is coincident with mafic and ultramafic rocks that cover an area of 5km[2] . An application has been lodged to increase the licence size over Sortekap to incorporate these newly identified areas of interest.

SODD001 nickel sulphide mineralisation

==> picture [428 x 166] intentionally omitted <==

Figure 5: Drill-hole SODD001 from 192.8m to 197.4m depth.

6 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

• 1.2. Mestersvig Zn-Pb-Cu-Ag Project, Greenland (100% owned) 1.2.1. Planning for 2022 Field Season

The Mestersvig Project (Figure 1) covers 1,447km[2] on the east coast of Greenland, 640km north of Iceland. It contains multiple prospects that are prospective for accumulations of vein and strata-bound sulphide mineralisation, with known occurrences of Zn-Pb-Cu-Ag. This includes the historic Blyklippen Mine that produced 545,000 tonnes of ore @ 9.9% zinc and 9.3% lead between 1956-1962 that is situated within the tenement.

During the quarter, Zinc was added to the United States Geological Survey´s (USGS) list of critical minerals for 2022, as such the Company has been preparing to embark on a field season at the Mestersvig Project this year.

The Company is well placed to conduct activities at Mestersvig in 2022, with planning at an advanced stage. Personnel and drill rigs are proposed to be transported to Mestersvig (from the Ryberg Project) at the beginning of August, with drilling persisting until the end of September. Fuel and accommodation is already on site (Figure 6), a road to the drill locations, a harbour and an airstrip at the nearby (<5km) Mestersvig airbase.

Drilling will focus on extensions to the historic Blyklippen Mine, toward the Sortebjerg Prospect, a strike length of ~13km that has not previously been drill-tested. Off-season work by Company personnel has focused on identifying the location of the vein, utilising a combination of historic drilling, satellite imagery and geophysics.

In addition, targets at the Nuldal Prospect (identified in 2020 by Conico) are proposed to be drill-tested, in locations where surface samples grade up to 69.5% lead, 0.9% copper and 282g/t silver. A field team will also visit the Oksedal Prospect where barite mineralisation, in conjunction with base metals has been reported by previous explorers.

==> picture [417 x 278] intentionally omitted <==

Figure 6: The historic mining camp at the Mestersvig Project.

7 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

1.3. Mt Thirsty Ni-Co Project, Western Australia (50% owned) 1.3.1.1. Overview of Activities

Project consolidation discussions continue for Mt Thirsty with JV partner Greenstone Resources Ltd (Location in Figure 2). The Companies are assessing several options to simplify the current ownership structure to support the next development phase of the Project, including an initial public offer on the Australian Securities Exchange (“ASX”). The principal objective of any outcome is to provide a dedicated management team capable of advancing the Project to a final construction decision, as well ensuring the respective shareholders of Greenstone and Conico retain long-term exposure to the Project.

Following the release of the PFS in early 2020, both cobalt and nickel prices have increased 33% and 108%, respectively.

2. Corporate

2.1. Private Placement

A total of 150,032,231 ordinary fully paid shares were placed together with one for two free attaching options to acquire Shares at 2.6 cents each on or before 31 December 2026 to Sophisticated Investors pursuant to s708 Corporations Act (Cwth) 2001 and Chapter 7.1 ASX Listing Rules at an issue price of 1.3 cents per Share for a total of $1,950,419 (before expenses of the Placement Offer). The free attaching Options will be subject to shareholder approval at a General Meeting of the Company prior to 30 June 2022.

A further 16,313,923 Shares (and one for two free attaching Options) were also placed to raise $212,081 on the same terms and will be subject to shareholder approval at the same General Meeting.

2.2. Rights Issue

The Company intends to undertake a non-renounceable pro-rata rights offer to Conico shareholders to raise up to (if fully subscribed) approximately $2,492,202). The Rights Offer will be open to all Conico shareholders who are on the register as at 5:00pm WST on 25 April 2022 and who have a registered address in Australia or New Zealand. Under the Offer, Conico will make an offer to all eligible shareholders of one (1) fully paid ordinary Conico share for every six (6) fully paid ordinary Conico shares held as at the Record Date, at a price of 1.3 cents per Share together with one for two free attaching Options. The Offer is fully underwritten by Peloton.

For and on behalf of the board,

Guy T Le Page, FFIN, MAusIMM

Director

Guy Le Page is a director of Conico and was authorized to sign this announcement. For any queries regarding this announcement please contact Guy Le Page on +61 (8) 6380 9200.

8 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

Exploration

Exploration expenditure for the quarter was $0.46 million, relating to the evaluation of 2021 Ryberg drilling program and a heli-borne magnetic survey and preparation for the 2022 drilling program. There were no mining production or development activities during the quarter.

Description of Payments to Related Parties of the Entity and their Associates (LR 5.3.5)

Payments to related parties during the quarter related to:

1. Management Fees, as per agreement, were paid during the quarter to a company of which Mr GH Solomon and Mr DH Solomon are directors.

2. Director Fees and superannuation.

3. Corporate advisory and website maintenance fees were paid during the quarter to a company in which Mr G Le Page and Mr J Richardson are directors.

9 Conico Ltd ASX: CNJ F:BDD

==> picture [198 x 48] intentionally omitted <==

Interests in Mining Tenements

Tenement	Location	Interest held at end of quarter	Acquired during the quarter	Disposed during the quarter
E63/1267	WA	50%
R63/4	WA	50%
E63/1790	WA	50%
P63/2045	WA	50%
M(A) 63/669*	WA	50%
M(A) 63/670#	WA	50%
G(A) 63/93^	WA	50%
L63/80	WA	50%
L63/81	WA	50%
L63/91	WA	50%
MEL 2017/06	Greenland	100%
MEL-S 2019/38	Greenland	100%
MEL 2020/64	Greenland	100%
MPL 2019/39	Greenland	100%
MEL-S 2021/24	Greenland	100%

Notes:

*MLA over P63/1267,[#] MLA over R63/4,[^] GLA over E63/1790 & P63/2045 LA 63/91 for haul roads and services. L63/80 & 81 for ground water search.

Disclaimer

The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this report will therefore carry an element of risk.

This report contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this report. No obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Competent Person´s Statements

The information contained in this report relating to exploration results for the Greenland projects is based on information compiled or reviewed by Thomas Abraham-James, the CEO of Longland Resources Ltd. Mr. Abraham-James has a B.Sc. Hons (Geol) and is a Chartered Professional (CPGeo) and Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Abraham-James has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the Joint Ore Reserve Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Abraham-James consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

10 Conico Ltd ASX: CNJ F:BDD

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity	Name of entity
Conico	Ltd
ABN		Quarter ended (“current	quarter”)
49 119	057 457	31 March 2022
Consolidated statement of cash flows		Current quarter	Year to date (9
		$A’000	months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers
1.2	Payments for
	(a) exploration & evaluation	(464)	(5,707)
	(b) development	-	-
	(c) production	-	-
	(d) staff costs	(49)	(147)
	(e) administration and corporate costs	(82)	(446)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	-	-
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Government grants and tax incentives	-	-
1.8	Other (provide details if material)	-	-
1.9	Net cash from / (used in) operating	(595)	(6,300)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a) entities	-	-
	(b) tenements	-	-
	(c) property, plant and equipment	-	(20)
	(d) exploration & evaluation	-	-
	(e) investments	-	-
	(f) other non-current assets	-	-

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 1

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date (9
		$A’000	months)
			$A’000
2.2	Proceeds from the disposal of:
	(a) entities	-	-
	(b) tenements	-	-
	(c) property, plant and equipment	-	-
	(d) investments	-	-
	(e) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)
2.6	Net cash from / (used in) investing	-	(20)
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities
	(excluding convertible debt securities)	645	5,388
3.2	Proceeds from issue of convertible debt	-	-
	securities
3.3	Proceeds from exercise of options	-	-
3.4	Transaction costs related to issues of equity	-	(287)
	securities or convertible debt securities
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and	-	-
	borrowings
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financing	645	5,101
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of	2,636	3,919
	period
4.2	Net cash from / (used in) operating	(595)	(6,300)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	-	(20)
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	645	5,101
	(item 3.10 above)

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 2

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date (9
		$A’000	months)
			$A’000
4.5	Effect of movement in exchange rates on	(3)	(17)
	cash held
4.6	Cash and cash equivalents at end of	2,683	2,683
	period
5.	Reconciliation of cash and cash	Current quarter	Previous quarter
	equivalents	$A’000	$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	2,683	2,636
5.2	Call deposits	-	-
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Cash and cash equivalents at end of	2,683	2,636
	quarter (should equal item 4.6 above)
6.	Payments to related parties of the entity and their		Current quarter
	associates		$A'000
6.1	Aggregate amount of payments to related parties and their		104
	associates included in item 1
6.2	Aggregate amount of payments to related parties and their		-
	associates included in item 2
Note: if	any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a		description of, and an
explanation for, such payments.

6.1 -

1. Management Fees, as per agreement, were paid during the quarter to a company of which Mr GH Solomon and Mr DH Solomon are directors.

2. Director Fees and superannuation

3. Corporate advisory fees were paid during the quarter to a company in which Mr G Le Page and Mr J Richardson are directors.

4. Website maintenance fees were paid during the quarter to a company in which Mr G Le Page and Mr J Richardson are directors.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 3

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7.	Financing facilities Total facility	Amount drawn at
	Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. amount at quarter end $A’000	quarter end $A’000
7.1	Loan facilities -	-
7.2	Credit standby arrangements -	-
7.3	Other (please specify) -	-
7.4	Total financing facilities -	-
7.5	Unused financing facilities available at quarter end	-
7.6	Include in the box below a description of each facility above, including	the lender, interest
	rate, maturity date and whether it is secured or unsecured. If any additional financing
	facilities have been entered into or are proposed to be entered into after quarter end,
	include a note providing details of those facilities as well.

==> picture [425 x 324] intentionally omitted <==

----- Start of picture text -----

8. Estimated cash available for future operating activities $A’000
8.1 Net cash from / (used in) operating activities (item 1.9) (595)
8.2 (Payments for exploration & evaluation classified as investing -
activities) (item 2.1(d))
8.3 Total relevant outgoings (item 8.1 + item 8.2) (595)
8.4 Cash and cash equivalents at quarter end (item 4.6) 2,683
8.5 Unused finance facilities available at quarter end (item 7.5) -
8.6 Total available funding (item 8.4 + item 8.5) 2,683
8.7 Estimated quarters of funding available (item 8.6 divided by 4.5
item 8.3)
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”.
Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: N/A
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: N/A
----- End of picture text -----

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 4

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

• 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

• Answer: N/A

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 29 April 2022

Authorised by: Aaron Gates

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 5