Shareholder Business Development – Aug – Oct 2023

November 23, 2023

Performance Report

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Bifox Ltd Shareholder Business Development Update – August, September & October 2023

Dear Shareholders,

This shareholder update is designed to brief you on Bifox operational business and corporate development activities over the period August, September and October 2023.

Executive Summary

Over the past three months our production and geological team have completed a review of all suitable available phosphate rock resource areas across Chile encompassing both Sedimentary phosphate rock utilised in direct application fertiliser production and Igneous phosphate rock used in higher grade blended fertiliser production, animal feed and in the production of high grade phosphoric acid which blended with lithium produces Lithium Iron Phosphate (LFP) EV Batteries.