My, my, what a roll-up! Good afternoon, ladies and gentlemen. I am Peter Day, an independent non-executive director and chairman. As the chairman of Alumina Limited and of this meeting, it is my pleasure to welcome you to the Alumina Scheme Meeting. This meeting relates to the scheme of arrangement under which all of the issued shares in Alumina are proposed to be acquired by Alcoa Corporation through a wholly owned subsidiary. I'd like to begin by acknowledging the traditional owners of the land on which we stand, and pay my respects to their elders, past, present, and emerging. I will briefly discuss some housekeeping matters before moving to the business of the meeting. In the unlikely event that evacuation of the auditorium is required, attendees are to follow the directions of the venue staff, and the meeting will be adjourned. The emergency assembly area is the Old Melbourne Gaol, unless otherwise broadcast over the public address system. I welcome shareholders who have joined the meeting in person and who are listening and participating online. Before formally beginning the meeting, I would like to introduce you to my fellow directors. Seated in the front row, we have Deborah O'Toole, an independent non-executive director and Chair of the Audit and Risk Management Committee. Shirley In't Veld, an independent non-executive director and Chair of the Compensation Committee, and Chen Zeng, a non-executive director. Joining us online are John Bevan, an independent non-executive director and Chair of the Nomination Committee, and Alistair Field, an independent non-executive director and Chair of the Sustainability Committee. On my far right is Mike Ferraro, our Chief Executive Officer. On my immediate right is Katherine Kloeden, Alumina's Company Secretary. The company's Chief Financial Officer, Galina Kraeva, is seated in the third row. This afternoon, we are holding a scheme meeting for Alumina. As it has now gone 2 P.M., and we have a quorum, I declare the meeting open. We now move to the formal part of the meeting. Before opening up the discussion period for today's item of business, I want to quickly mention a few procedural matters. We are conducting a hybrid meeting, meeting today, which allows for both in-person and online participation. Shareholders and their representatives or proxy holders online will be able to participate in the meeting in real time, including voting and asking questions. For those attending online, when I declare the poll open, a voting icon will appear on your screen, and the item of business will be displayed. To vote, press the Vote icon, and the voting options will appear on your screen. You can then select your voting direction. There is no need to hit a Submit or Enter button, as the vote is automatically recorded. You will receive a confirmation notification on your screen. To change your vote, select Click here to change vote, and select your preferred voting direction. You may change your vote at any time before the poll is closed. Important information for today's meeting, including the notice of scheme meeting and the independent expert's report, is set out in the scheme booklet, which shareholders have had for some time. I will take the scheme booklet as read, all 400 pages of it. Voting on today's item of business will be by way of poll, including proxies that were submitted before the meeting and votes lodged in person here in the meeting and online. The proxies received for today's meeting are held by the Assistant Company Secretary, Nick Wallace-Smith. We have received proxies representing approximately 1.5 billion shares or 52.99% of the company's issued shares. Votes cast in person today will, of course, be tallied with proxies to arrive at the final outcome advised to the ASX. I now declare the poll open. If you need to leave today's meeting early, you may lodge your vote with Computershare before you depart. A voting box overseen by Computershare personnel is located on the table near the exit door. There will be plenty of time after discussion of the item of business for those not leaving early to complete and lodge your vote. Following discussion on the scheme resolution, the proxy position on the scheme resolution will be displayed on the screen. Only Alumina shareholders, a representative or attorney for an Alumina shareholder, or a proxy for an Alumina shareholder are entitled to vote. Any directed proxies that are not voted will automatically default to me as chairman of the meeting, and I am required to vote those proxies as directed. Any proxies that are open and available to the chairman at the meeting will be voted in favor of the scheme resolution. If you are voting today in person, you need to have obtained a yellow voting card. These are available when registering your attendance. Shareholders or proxies in the room with yellow admittance cards are welcome to vote and ask questions. Shareholders with blue cards are not entitled to vote, however, can ask questions. If you have difficulty completing your voting card, please raise your hand, and a representative from Computershare will assist you. The Notice of Scheme Meeting provides shareholders with information on how to participate, ask questions, and vote at this scheme meeting. Further information for online participants is available in Computershare's Online Meeting Guide, which can be accessed online. For shareholders or their representatives attending in person and holding yellow or blue admittance cards, if you have a question, please move to the microphone in one of the aisles and show your voting paper to the attendant. They will take your name and introduce you to the meeting. For those attending online, questions can be submitted through the online platform. To ask a question, click on the Q&A button, speech bubble icon on the webpage, and once you have typed your question, please remember to click the send button to submit your question. To ask a question verbally, please follow the instructions shown below the broadcast window on the online platform, and please state your full name before asking your question. If you are experiencing any technical issues, please call the number on the screen. Please note that questions may be moderated to avoid repetition, and if questions are particularly lengthy, we may need to summarize them in the interest of time. I will take questions that are relevant to the business of today's scheme meeting. Depending on the question asked, I will either answer it myself or ask another member of the Alumina board or management team to respond as appropriate. I encourage you to submit your questions as soon as you can. Moving to the details of the scheme. On 12th of March 2024, Alumina announced it had entered into a scheme implementation deed with Alcoa for the acquisition of 100% of the fully paid ordinary shares in Alumina by way of a scheme of arrangement. The proposed transaction followed several months of negotiation between Alumina and Alcoa, during which the terms of the transaction were improved in favor of Alumina. If the scheme is approved and implemented, Alumina shareholders will receive 0.02854 shares of Alcoa common stock in the form of ASX-listed Alcoa CHESS Depositary Interests, or CDIs, for each Alumina share held, except for ineligible foreign shareholders and CITIC. Ineligible foreign shareholders will have the Alcoa common stock, which they would otherwise receive under the scheme, sold on the New York Stock Exchange and will receive their pro rata share of the net cash proceeds of the sale. CITIC will receive shares of Alcoa preferred stock to the extent that CITIC's holding in Alcoa would exceed 4.5%. The preferred stock has the same dividend entitlements as common stock, but has no voting rights except as required by applicable law or in relation to a change in the existing rights of Alcoa preferred stock. The scheme consideration for the Alumina shares underlying Alumina American depository receipts will be Alcoa common stock. On implementation of the scheme, Alumina shareholders will own approximately 31.6% of the combined group, with existing Alcoa shareholders owning approximately 68.4%. Based on the closing stock price of Alcoa as at the 16th of July, the transaction consideration of 0.02854 shares of Alcoa common stock, in the form of ASX-listed Alcoa CDIs for each Alumina share, implies a value of AUD 1.64 per Alumina share, which represents a premium of 61% to the undisturbed closing price on the 23rd of February, 2024. The board unanimously recommends that shareholders vote in favor of the scheme. As announced on the ASX earlier today, Mr. Chen Zeng, a non-independent, non-executive director of Alumina, nominated by the CITI C Group, who previously abstained from making a recommendation in relation to the scheme, has confirmed that he will join the board in recommending the scheme. In its assessment of the transaction, the Alumina board has had regard to a range of factors, including the underlying values of Alumina's and Alcoa's businesses and their relative contribution to the underlying value of the combined group. Also, the trading prices of Alumina shares and Alcoa shares prior to the announcement of the transaction. Also, the strategic and funding-related benefits, which are expected to flow to the combined group from the transaction. Also, the future risks and challenges for Alumina as a standalone entity, and the conclusion of the independent expert that the transaction is fair and reasonable, and is therefore in the best interests of Alumina shareholders in the absence of a superior proposal. At the time of this meeting, no superior proposal has emerged, and the Alumina directors are not aware of any superior proposal that is likely to emerge. Having regard to these and other factors, the Alumina board believes the transaction is in the best interests of Alumina shareholders. Each Alumina director is voting or procuring the vote of any Alumina shares held or controlled by them in favor of the scheme. The scheme booklet sets out various reasons why Alumina shareholders may want to vote in favor of the scheme, and various reasons why they may want to vote against the scheme. These are set out in detail in the scheme booklet and are summarized on the current slide. The scheme booklet contains further information, including details regarding the risks associated with the scheme, as well as the risks associated with shareholders' continued investment in Alumina. The Alumina directors appointed Grant Samuel & Associates Pty Limited as the independent expert to assess the merits of the scheme. The independent expert has concluded that the scheme is fair and reasonable, and is therefore in the best interests of Alumina shareholders in the absence of a superior proposal. The reasons why the independent expert reached these conclusions are set out in the independent expert's report, a copy of which is included in Annexure A of the scheme booklet. The independent expert has not changed or withdrawn its conclusion. In summary, the independent expert has assessed the full underlying value of Alumina to be $0.82-$0.98 per Alumina share, compared to the assessed value of the scheme consideration of $0.94-$1.06 per Alumina share. The vast majority of the assessed value of the scheme consideration exceeds the estimate of the full underlying value of Alumina. The scheme is therefore demonstrably fair. As the scheme is fair, it is also reasonable. As announced on the ASX, Alcoa received Foreign Investment Review Board approval for the transaction on the 14th of June, 2024, and Alcoa stockholders approved the issuance of Alcoa stock as scheme consideration on the 16th of July, 2024, U.S. Eastern Time. The ATO has also provided confirmation that it is prepared to issue a class ruling for scrip-to-scrip rollover relief. The implementation of the scheme remains subject to the following conditions precedent: approval of the scheme resolution by Alumina shareholders at this meeting, and approval of the scheme by the Federal Court of Australia at the second court hearing. The scheme is also subject to other customary conditions precedent, which are described in detail in the scheme booklet, noting that the scheme is not subject to any financing or due diligence conditions. If the outstanding conditions precedent, including shareholder and court approval, are not satisfied, the scheme will not proceed, and Alumina will continue as a standalone entity listed on ASX. If the scheme is approved by Alumina shareholders today, the key events and the expected timing in relation to the approval and implementation of the scheme are set out in the timetable shown on the current slide. The second court hearing for approval of the scheme is scheduled for Monday, the 22nd of July, 2024, at 2:15 P.M. If the scheme is approved by the Court, the effective date and the last trading day in Alumina shares on the ASX is expected to be Tuesday, the 23rd, 2024. On Wednesday, the 24th July, 2024, the Alcoa CDIs will be listed on the ASX and commence trading on a deferred settlement basis. Trading on the ASX of new Alcoa CDIs is expected to commence on a normal settlement basis on Friday, the 2nd of August 2024. It is expected that the scheme will be implemented and the consideration issued on Thursday, the 1st of August 2024. We will now move to the formal business of this meeting. We have one item of business to be considered today, namely, the following resolution, as set out in the notice of scheme meeting included in the scheme booklet. That pursuant to, and in accordance with Section 411 of the Corporations Act 2001, Commonwealth, A:... The scheme of arrangement proposed between Alumina Limited and the holders of its fully paid ordinary shares, as contained in, and more precisely described in the scheme booklet, of which the notice convening this meeting forms part, is agreed to, with or without modification, as approved by the Federal Court of Australia, to which Alumina and Alcoa agree. B, the directors of Alumina Limited are authorized to agree to such alterations or conditions as are thought fit by the Court, and subject to approval of the scheme by the Court, the Board of Directors of Alumina Limited is authorized to implement the scheme with any such modifications or conditions. For the scheme to proceed, votes in favor of the scheme resolution must be received from the requisite majorities of Alumina shareholders. As explained in the scheme booklet, the requisite majorities for the scheme resolution are more than 50% of Alumina shareholders who are present and voting, either in person or by proxy, attorney, or by- or in the case of corporate shareholders, by corporate representative, and at least 75% of the total number of votes cast on the scheme resolution by Alumina shareholders who are present and voting, either in person or by proxy, attorney, or in the case of corporate shareholders, by corporate representative. As mentioned previously, the Alumina board unanimously recommends that you vote in favor of the resolution. I will now display the proxies for the scheme resolution received prior to the meeting, which are shown on the slide displayed. The proxies received on the scheme resolution up to 2:00 P.M., Tuesday, the 16th of July, 2024, were 1,528,199,207 votes in favor from 1,192 shareholders. 4,504,951 votes undirected from 393 shareholders. Noting I will vote undirected votes given to myself as chairman in favor of the scheme resolution, and 4,766,351 votes against from 229 shareholders. As announced to the ASX earlier today, the CITIC Group has advised Alumina that it is supportive of the scheme. Each CITIC shareholder intends to vote today, all Alumina shares that they hold or control in favor of the scheme resolution, subject to no superior proposal emerging, and the independent expert continuing to conclude that the scheme is in the best interests of Alumina shareholders. As previously mentioned, at the time of this meeting, no superior proposal has emerged, and the Alumina directors are not aware of any superior proposal that is likely to emerge. The independent expert has not changed its conclusion that the scheme is in the best interests of Alumina shareholders in the absence of a superior proposal. The CITIC Group holds approximately 18.92% of the total number of Alumina shares on issue via indirect subsidiaries. I would now like to open the meeting to questions and discussion in relation to the proposed scheme. I will start by responding to questions that we have received in advance of the meeting, followed by questions from the floor of the meeting, and then proceed to questions received today from shareholders utilizing the online platform, initially in writing and then verbally. We will then allow time for follow-up questions to be submitted. Question one: Given that Alcoa has only paid a dividend in three of the last 10 years, current yield is just over 1%, and the dividends are unfranked and subject to dividend withholding tax, why do Alumina Limited directors think that Alcoa's acquisition is a good deal? The Alumina directors considered the Alcoa proposal carefully, with support from Alumina's advisors, and we have recommended that Alumina shareholders vote in favor of the Alcoa proposal. The independent expert has also concluded that the scheme is demonstrably fair and reasonable, and is therefore in the best interest of Alumina shareholders in the absence of a superior proposal. The benefits of the combination are listed in the scheme booklet and have been reiterated in my speech today. The second question: Why is the transaction happening? The Alumina board believes the time is right to combine our two companies. The transaction is expected to provide a number of benefits to Alumina shareholders, including unified ownership of the AWAC joint venture, exposure to a leading global pure-play upstream aluminum company with a geographically diversified portfolio across bauxite, alumina, and aluminum. Enhanced capital structure, increased financial flexibility, and greater strategic optionality through access to a larger balance sheet. The scheme consideration represents a 19.5% premium to the average exchange ratio over the 12 months to 23rd of February 2024, being the last trading date prior to the announcement of the transaction to the ASX on the 26th of February 2024. The third question: Was there a cash option? While Alumina has not received a cash offer, the board considered the proposals put forward by Alcoa carefully and worked as hard as possible to achieve the best available outcome for shareholders. The possibility of a potential franked cash dividend was discussed, with Alcoa expressing its view that any cash dividend would lead to a downward adjustment to the exchange ratio. After considering a range of factors, the board considered that the terms negotiated in the scheme implementation deed were in the best interest of shareholders. Fourth question: The Alcoa Quarter two results show that AWAC performed better than expected. Why has the board agreed to sell at a price that undervalues Alumina? I've explained in the response to previous questions, the board's support for the transaction. In relation to the Quarter two results, the conclusion of the independent expert has not changed following release of those results. The benefits of the combination are listed in the scheme booklet and have been reiterated in my speech today. The fifth question: Why was Alcoa's offer not higher? The transaction followed months of negotiations between Alcoa and Alumina, during which time Alumina negotiated an 18% increase to Alcoa's initial proposal. If the scheme is implemented, Alumina shareholders will receive 0.02854 shares of Alcoa common stock in the form of ASX-listed Alcoa CHESS Depositary Interests for each Alumina share held. The scheme consideration represents a 19.5% premium to the average exchange ratio over the 12 months to the 23rd of February, 2024, being the last trading date prior to the announcement of the transaction on the ASX on the 26th of February, 2024. Based on the current prevailing Alcoa share price, as at close of market on Tuesday, the 16th of July, the implied offer price is AUD 1.64 per share, which represents a 61% premium to Alumina's undisturbed closing price on the 23rd of February, 2024. In addition to the premium offered, in its assessment of the transaction, the Alumina board has had regard to a range of factors, including the underlying values of Alumina's and Alcoa's businesses and their relative contribution to the underlying value of the combined group. Also, the strategic and funding-related benefits, which are expected to flow to the combined group from the transaction. Also, the future risks and challenges for Alumina as a standalone entity. The sixth question: What will happen to Alumina's franking credits? Will there be a special dividend? Is there a way to pay some or all of the Alumina franking credits to shareholders? If the Alcoa proposal proceeds, Alumina's franking credits balance, AUD 8.93 million, as at the 31st of December 2023, will remain with the combined group, and future dividends from Alcoa will be unfranked. As stated in the independent expert's report, franking credits do not have value to shareholders unless they are distributed as fully franked dividends. Alumina has not paid a dividend since the interim dividend for the six months to the 30th of June 2022. There will not be a special dividend issued to Alumina shareholders. It is expected that Alcoa's current dividend framework will be the dividend framework of the combined group. The details of any future cash dividend declaration will be determined by the Alcoa board. I will now address any questions in the room, and a reminder to please state your name and show your yellow or blue admittance card before asking the question. I will now ask our Assistant Company Secretary, Nick Wallace-Smith, to please read out written questions received from the shareholders utilizing the online platform. Chairman, I have a question from Mr. Stephen Mayne. Best practice is now to disclose the proxy position to the ASX, along with the formal addresses, to offer more timely disclosure to the market. The likes of Origin Energy, NAB, Carsales, Viva Energy, Webjet, Xero, Myer, Brambles, and JB Hi-Fi all do this at their AGMs... and virtually all of the scheme AGMs this year have included this practice from the likes of CSR, LTM, Costa, Boart Longyear, and Adbri. Why did you hold back proxy disclosure today, and what is the proxy position? I suppose we could have made it the first slide. But, I think we have disclosed the proxy position to you before any voting takes place today. We did not hold back the proxy position. Next time we hold a meeting like this, we'll put the proxy position out a little bit earlier. Thank you, Nick. Chairman, I have a question from Mr. Stephen Mayne. How many shareholders were eligible to vote on today's takeover, and how many did so before the proxy voting deadline on Tuesday at 10 A.M.? What sort of solicitation campaign did you run to maximize retail shareholder participation in today's vote? I don't know. Katherine, do you have any idea? Sure, we can answer that question. Look, about 53% of votes were received in advance through proxies today, and we did run a retail campaign and had a proxy advisor help us work out what was best practice for this transaction to reach out to retail shareholders. Thanks, Katherine. Nick? Mr. Chairman, a follow-up question from Mr. Mayne. Also, will the full webcast archive be published on your website until at least the implementation date for the benefit of Alumina shareholders unable to tune in on the live vote? What are the arrangements, Katherine? We will be making the webcast available. Yep. Okay. Nick? Chairman, I have a question from Mr. Stephen Mayne. The proxy turnout was barely 50%, with only 1.5 billion of the 2.9 billion shares voted before the deadline at 2:00 P.M. on Tuesday. Is it because CITIC proposes to vote on the floor today? Allan Gray has a similar shareholding to CITIC. Did they vote in favor ahead of the proxy voting deadline? My understanding is that CITIC does propose to vote on the floor today. I don't believe Allan Gray has a similar shareholding to CITIC at this point in time. I don't know if they voted in favor ahead of the proxy voting deadline. I think we expected that they would vote their shares in favor. Okay, Nick. Chairman, I have a question from Mr. Stephen Mayne. Australia is currently in the midst of an unprecedented deluge of takeovers that has contributed to listed entities on the ASX falling by 7% since January 2023, including 17 months straight of declines. The ASX is losing long-standing names such as CSR, Boral, Blackmores, Alumina, Coca-Cola Amatil, Sydney Airport, InvoCare, OZ Minerals, Newcrest Mining, Crown Resorts, and AusNet, which have all disappeared over the past three years. Does the Chair think this is a problem for the nation? That question is probably above my pay grade. I, I don't think it's a particularly relevant question to the business of this meeting, which is to consider the proposal from Alcoa. So, I don't propose to expand on that very broad question. Chairman, I have a question from Mr. Stephen Mayne. Why did it take CITIC's nominee on the board, Chen Zeng, until this morning to deliver his board support for the takeover proposal? Could Mr. Zeng please outline what the approval process was at CITIC and why it took so long for formal support to be provided? I don't believe it's appropriate to provide details of what an individual shareholder might have had to arrange in order to make their vote available. All, all I will say is that throughout this process, Mr. Zeng has been assiduous in his support of the proposal and has worked very hard to ensure that all the regulatory requirements in China were met before he was able to ensure the votes were put forward at this meeting. I don't think you should read anything negative into that. A follow-up question, Chairman. Chairman, a question from Mr. Gavin Lostia. To the board, thank you for your assistance. Although I only have a small holding, I have a couple of questions due to the complexity of aspects of the scheme. Firstly, would the CDIs be taxed in the USA, Australia, or both? Secondly, although Alcoa gives assurances that the CDIs will be on the ASX for 10 years, what possibilities regarding the CDIs could occur after this period? Thank you for your time. I hesitate to give advice on taxation in USA, Australia, or both. But if you're an Australian resident and you hold CDIs, if you sell them, you may incur a capital gain or a capital loss, and if there is a dividend, you would have to include it in your tax return. Typically, if you're an Australian resident, I would imagine you would complete a pure Australian tax return. You might also have obligations in the U.S. You need to seek advice from your financial advisor. In terms of the second question—Sorry, Nick, have you read the second part out? Certainly, Chairman. So the second part of the question was, secondly, although Alcoa gives assurances that the CDIs will be on the ASX for 10 years, what possibilities regarding the CDIs could occur after this period? Well, I know that Alcoa has said that it will work hard to provide information to Australian shareholders holding CDIs. They've committed to do that for at least 10 years. I think it's something that you would have to raise with Alcoa at any shareholder or investor meetings that they present during that time as to their strategy and plan in terms of communication to shareholders. I can't speculate beyond what Alcoa has already committed to do. Chairman, I have a question from Ms. Mayanne Song: Given that Alcoa is currently not listed on the ASX, what is the process for small shareholders to have their shares converted into Alcoa shares? The process of the issue of the CHESS Depositary Interests in Alcoa shares means that they will be automatically listed on the Australian Stock Exchange, so your shares will be automatically converted into those CDIs, representing an Alcoa interest and being able to be traded in the same way as you hold any other shares on the Australian stock market. It's very straightforward. Chairman, there are no further questions online. Are there any verbal questions from the telephone? There are no verbal questions at this time. Okay. Ladies and gentlemen, as there are no further questions, that concludes the discussion on the item of business. If you have not already done so, please complete and lodge your vote on the scheme resolution. Poll collection boxes will now be passed along each row for you to insert your completed voting paper, and there is also a voting box positioned at the exit. Alumina shareholders and proxy holders will have five more minutes to submit their votes via the online platform. So we will pause for five minutes. Just in terms of the auditorium, we seem to have collected all the cards in the auditorium. If you have not completed your card, could you please do so and pass it to Computershare? We will stay paused until the five minutes is up because there may be people online who are still voting. So, please, if you have a card to pass in, please do so. Yeah, I think so. Okay. Thank you, everybody. It appears that everyone has voted. I now declare the poll closed. The results of the poll will be announced to the ASX and published on the Alumina website later today. I'd like to thank you all for your attendance and participation, and I now declare the scheme meeting of Alumina closed. I'll do so with some informal remarks. People often ask why it took 22 years to bring this together. I've been on the board for 10 years, and all I can say is that the two things that make it happen are the right economics and the right people. The scheme booklet talks about the right economics, which will be voted on, but the right people involves a different story. It involves, for example, in 2016, the decision by Alcoa to stop or finish having a combined chair and CEO role, and the appointment of an independent chairman, which occurred for the first time when Alcoa split from Arconic. At the time, Mike Morris was made the independent chair, and John Pizzey, who was chair of Alumina at the time, realized the importance of that and reached out quickly to Mike to establish a relationship whereby there could be open communication between chair to chair and between board to board. That happened, and when Mike Morris retired, the relationship was established with Steve Williams, who's now the chair of Alcoa. That meant that there was continued dialogue on major strategic and operational matters. Importantly, in the last 10 years, Alumina has had three exceptional CEOs. The first was John Bevan, who was instrumental in bringing API pricing to the Alumina business, and he was well regarded by the Alcoa team for his knowledge and his commercial input.... We were then very blessed to have Peter Wasow as CEO for a period, and he was instrumental in negotiating the changes to the joint venture agreement, which benefited Alumina. And finally, we were lucky enough to persuade Mike Ferraro to take the job of CEO. And Mike had a long history of working in corporate law with Herbert Smith Freehills and also in BHP. And he had negotiated many arrangements with, with clients and on behalf of the company that he worked for. We could not have had a better person available to help us negotiate the transaction that's just occurred. But at the same time, we continued open dialogue, chair to chair, board to board. We even got an invite to visit Pittsburgh, which was wonderful. But again, in terms of the right economics and the right people, I just want to call, call out the four senior people in Alumina: Galina, Galina, Craig, Katherine, and Liping, who have been instrumental in pushing forward the work that needed to support this transaction. And importantly, all the staff in Alumina have worked tirelessly to help make this happen, knowing that it would, in fact, mean that they would lose their jobs. And there are advisors who've helped us. Tony Burgess of Flagstaff, who's been with us the whole time that Alumina existed. We had Joe Fayad and Jonathan Denby of Bank of America, Will Heath of KWM, Ben Fleming of Sullivan & Cromwell, and PwC, Amanda Campbell. The board also asked Rod Levy to give us individual advice on board matters that were important. So we've been very lucky. We had an open relationship with Alcoa. We had a string of very good CEOs. We had an Alumina board with a strong commercial and professional background. We had Alumina staff that were supportive, and we had professional advisors who'd been with us for the long term. But importantly, we had shareholders who voted overwhelmingly in favor of this particular transaction. So it's been a privilege for us all to be involved, and I hope you will join us for some refreshments afterwards. Thank you.