HZRO Option Conversions

	A	B	C	D	E	F	G	H	I	J	K
1	HZRO Option conversions from ASX 3B Statements
2						Outstanding Unlisted Options at 17/12/2018
3		Converted	5,165,755	16.97%		Series	Expiry Date	Number Outstanding	Exercise Price	Value if all Exercised	Notes
4						Series F	30/06/19	1,150,000	0.55	$632,500	Expired
5	Date	# HZROs	# Converted	% Converted		Series D	31/12/19	4,850,000	0.40	$1,940,000
6	30/06/18	24,969,838				Series H	31/12/19	4,166,667	0.70	$2,916,667
7	23/10/18	24,831,505	138,333	0.55%		Series G	30/06/20	7,000,000	0.75	$5,250,000	(1)
8	16/11/18	24,681,505	150,000	0.60%		Series B	31/12/20	11,500,000	0.40	$4,600,000
9	19/11/18	24,181,505	500,000	2.00%		Series J	31/12/20	3,750,000	0.95	$3,562,500	(2)
10	03/12/18	24,181,505	0	0.00%		Series K	31/12/21	3,500,000	1.20	$4,200,000	(2)
11	17/12/18	24,181,505	0	0.00%		Series L	30/06/22	2,000,000	0.50	$1,000,000	(3)
12	07/01/19	0	3,448,850	13.81%		Series M	30/06/23	2,500,000	0.70	$1,750,000	(3)
13						Series N	30/06/24	2,000,000	0.90	$1,800,000	(3)
14
15											(1) The Series G options have a range of vesting dates. The options vest if the holder has continued to be engaged as an employee, contractor, consultant or Board member prior to the vesting date. 2,250,000 of these options vest on execution of a binding agreement with Primetals Technologies Ltd.
16	Expired Options										(2) The Series J and K options have a range of vesting dates. The options vest if the holder has continued to be engaged as an employee, contractor, consultant or Board member prior to the vesting date.
17	Series	Expiry Date	Number	Exercise Price	Number Converted	Value					(3) The Series L, M and N options vest if the holder has continued to be engaged as an employee, contractor, consultant or Board member prior to the vesting date.
18	Series C	31/12/18	928,572	0.25	400,000	$100,000
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