AXIS Consultants Pty Ltd was incorporated on 30 June 1987 and since that time has provided management and geological services to a number of companies in the mining and exploration, medical research and property industries, including Legend International Holdings Inc since 2004. As part of its role, AXIS provides the executive directors and senior executives to the companies that it manages. The major shareholder of AXIS who owns 72.7% of AXIS is an external arms-length third party. The use of AXIS has resulted in lower cost structures over many years for the companies that it provides the management and geological services to. Its role has been reviewed by a number of independent directors, audit firms, and bankers (as part of equity and debt funding structures) over many years. In addition, the company’s jet is primarily used for travel to outback destinations where the company’s projects are located, as travel to these locations is time consuming and costly, given the locations, and the use of the jet is time and cost efficient. The use and cost of the jet has been approved by the independent directors. Our staff salaries are in line with the Australian mining industry. You may not be aware but there is a mining boom here in Australia and a severe skills shortage which has put great pressure on wages. Attracting the right candidate to any role is difficult in this climate. Your broker friend obviously knows nothing of our project and what we have done and plan to do. You are not being milked out of your investment, we here at Legend are working extremely hard to develop this large new phosphate venture and we believe we will find the right path to unlocking the value for the benefit of all shareholders. Every broker that has done due diligence on us and covered us with their research ends up recommending as a “BUY”. Ask your broker friend to call me and I will gladly answer any questions he may have. Kind Regards,