Alex Passmore

As part of the appointment, Mr Passmore has been offered 750,000 Performance Rights with the following share price vesting milestones, and expiring 4 years from date of issue: 250,000 tranche 1 performance rights will vest upon the Twenty Day VWAP exceeding $0.15 per Share ('Milestone A'); 250,000 tranche 2 performance rights will vest upon the Twenty Day VWAP exceeding $0.20 per Share ('Milestone B'); and 250,000 tranche 3 performance rights will vest upon the Twenty Day VWAP exceeding $0.30 per Share ('Milestone C').