Ann: Shareholder Presentation, page-65

Good morning Siv

Thank you for your hard work re the possible MLP. This is indeed a very complex arrangement.

The thing I am struggling with is to understand what this would mean to us Australian shareholders, would it be good for us?

At this point of time I see LNG as a long term investment, and if really does replicate Cheniere's success LNG should be the most important investment we own. I can see how MLPs benefit large investors in the US (because of US tax rules etc), I can see the share price of LNG (Cheniere) in the US has done very well, but Cheniere has always been a US company whilst we are of course Australian. Can the Cheniere story be directly translated into a LNG story?

Because I intend to be here for the long haul I really need to understand this.

I appreciate your work Siv, and of course the contributions made by others!