Ann: Investor Presentation-CAP.AX, page-3

Hi Plough,

You may find what you are looking for re shipping in some other announcements over the last year or two. CAP's preferred option had been Port Pirie with some preliminary agreements in place.

However, with Arrium having administrators appointed, CAP is obviously exploring Whyalla as an option which makes a lot of sense if there is spare pallet plant capacity with existing infrastructure. So they potentially have two viable options to choose from to ship product.

I guess with so much info on the sales side there was not enough room in the presentation to go into detail on the shipping.

I'd be interested in your thoughts and comments on the reasonableness of their analysis re demand and pricing if you have the time and are happy to share your thoughts.