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

The funds for the purchase of the 25,662,931
Shares beneficially owned by Samlyn Capital, Samlyn LP and Mr. Pohly came from the working capital of Samlyn Onshore Fund and Samlyn
Offshore Master Fund, which are the direct owners of the Shares. No borrowed funds were used to purchase the Shares, other than
any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary course of business.

The funds for the purchase of the 9,300,700
Shares beneficially owned by Samlyn Partners and Samlyn Onshore Fund came from the working capital of Samlyn Onshore Fund, which
is the direct owner of the Shares. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working
capital purposes (including certain leverage arrangements) in the ordinary course of business.

The funds for the purchase of the 16,362,231
Shares beneficially owned by Samlyn Offshore Master Fund came from its working capital. No borrowed funds were used to purchase
the Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary
course of business.

In addition, Item 3 and Item 4 of the Amendment
No. 1 to Schedule 13D filed with the SEC in respect of the Issuer on November 6, 2014 by Samlyn Capital, Samlyn Partners, Samlyn
Onshore Fund, Samlyn Offshore Master Fund, Ltd., and Robert Pohly (“Amendment No. 1”) are incorporated herein by reference.