Cam Iron, the project companies, and their direct and indirect shareholders will be exempt from capital gains tax and bonus payment on any assignment, transfer, restructure or other dealing directly or indirectly in the shares of Cam Iron or a project company completed within 3 years of the date of entry into force. If Cam Iron, the companies and their direct or indirect shareholders wish to complete a transfer before the date of entry into force, the 3 year period will begin on the earliest of such transfers on and Cam Iron will give notice of the transfer. If Cam Iron holds directly or indirectly less than 51% of the equity interests of each of the other project companies respectively, Cam Iron will obtain prior written consent of the state for such transfer. Cam Iron, the project companies and their direct and indirect shareholders will be exempt from capital gains tax and bonus payment on any assignment, transfer, restructure, or other dealing directly or indirectly in the shares of Sundance or another project company of Cam Iron not registered in Cameroon. Except for these transactions, capital gains tax will be payable.

During the exploitation phase, there will be: - no corporate income tax during 5 years from the project commissioning (corporate tax holiday) - no minimum company income tax during the corporate tax holiday.

Cam Iron and/or the project companies and/or their shareholders, subsidiaries, and/or contractors, subcontractors will benefit of the following for the project operations: - the right to carry forward losses during a rolling five year period: - losses incurred during the exploration and construction phase will be capitalized and depreciated; - depreciation deferred at the time of a deficit will be carried forward without limitation; - the right to elect an accelerated tax depreciation at any time during the project operations with an acceleration coefficient of 1.25. Cam Iron and/or the project companies and/or their shareholders, subsidiaries, and/or contractors, subcontractors will benefit from the following rights for their work on the project operations: - the right to tax deductibility of any expenditures relating to the project operations without limitations to the threshold, subject to justification, documentation and arms' length pricing requirements; - the right to tax deductibility of all rehabilitation costs and provisions (including associated with any mine closure). Any interests generated by the amount in the rehab escrow account as well as any excess amount will be subject to the relevant tax regime.