13D Filing: Samlyn Capital and Applied Minerals Inc. (AMNL)

The Reporting Persons are filing this
Amendment No. 2 to Schedule 13D to report a change in their beneficial ownership percentages of the Shares, as indicated in Item
5 below.

Except as otherwise set forth herein, the Reporting
Persons do not have any present plans or proposals which would relate to, or result in, the matters set forth in subparagraphs
(a) – (j) of Item 4 of Schedule 13D. However, subject to market conditions and in compliance with applicable securities laws,
the Reporting Persons reserve the right, at a later date, to effect one or more of such changes or transactions in the number of
Shares they may be deemed to beneficially own in open-market transactions or privately negotiated transactions. The Reporting Persons
may also communicate with the Issuer’s management, the Issuer’s board of directors and other holders of Shares from
time to time.

As of the date hereof, Samlyn Capital, Samlyn
LP and Mr. Pohly may each be deemed to be the beneficial owner of 25,662,931 Shares, constituting 16.9% of the Shares, based upon
151,490,464 Shares outstanding as of the date hereof, as adjusted for convertible notes beneficially owned by Samlyn Capital, Samlyn
LP and Mr. Pohly. Each of Samlyn Capital, Samlyn LP and Mr. Pohly has the sole power to vote or direct the vote of 0 Shares and
the shared power to vote or direct the vote of 25,662,931 Shares. Each of Samlyn Capital, Samlyn LP and Mr. Pohly has the sole
power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 25,662,931
Shares.

As of the date hereof, Samlyn Partners and
Samlyn Onshore Fund may each be deemed to be the beneficial owner of 9,300,700 Shares, constituting 6.6% of the Shares, based upon
141,611,676 Shares outstanding as of the date hereof, as adjusted for convertible notes beneficially owned by Samlyn Partners and
Samlyn Onshore Fund. Each of Samlyn Partners and Samlyn Onshore Fund has the sole power to vote or direct the vote of 0 Shares
and the shared power to vote or direct the vote of 9,300,700 Shares. Each of Samlyn Partners and Samlyn Onshore Fund has the sole
power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 9,300,700 Shares.

As of the date hereof, Samlyn Offshore Master
Fund may be deemed to be the beneficial owner of 16,362,231 Shares, constituting 11.2% of the Shares, based upon 146,217,737 Shares
outstanding as of the date hereof, as adjusted for convertible notes beneficially owned by Samlyn Offshore Master Fund. Samlyn
Offshore Master Fund has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote
of 16,362,231 Shares. Samlyn Offshore Master Fund has the sole power to dispose or direct the disposition of 0 Shares and the shared
power to dispose or direct the disposition of 16,362,231 Shares.

There have been no transactions in the Shares
by the Reporting Persons during the past sixty days.