Ann: NZ Investor Presentation, page-57

Hi Reality Science and Mustang,
Neil mentioned multiple potential avenues for an initial gas offtake solution-not only generation but also delivery to customers using CNG and LNG solutions. In a developing country like Mongolia, Govt processes will have to be followed of which EXR is fully cognisant of. He also noted that using CH4 for ammonia production had become far more interesting post the Ukraine war given not only increases in ammonia prices-but also an increased desire to boost security of supply in all countries. Ammonia is the key feedstock for fertilizer and explosives ( inputs into two of Mongolia's 2 largest industries )

Although Neil did not make this explicit- given the emergence of other CBM operators in Mongolia in the last year or so -public news on gas marketing no doubt need to be somewhat circumspect given potential competition issues.

I have known Neil for about 15 years. He thinks of everything. It is his life.
Best
tui