ADO Charting and Technical Analysis, page-7925

Hi Captain

I love your input but I am still not convinced your interpretation is correct in this case.

It appears you believe the commercial agreement signing will be conditional on completion of the production scale up
So if the agreement is signed this quarter (as per the Sept milestones) then you believe production scale up must be completed prior to this.

But the presentation doesnt say production will be completed in the Sept Qtr - only commenced. Why wouldn't it say completed if this is a predecessor to the commercial deal being signed?

Further the Trinseo agreement is "targeted" - why have a KPI that is "targeted" if its going to happen then say it will be delivered - otherwise it is not really a milestone

• Construction commences on Anteo XTM production facility
• Development agreement/s with EV company
• Targeted Commercial agreement – Trinseo

Too much wriggle room for my liking - I dont see anything of note happening this quarter - similar to missed KPIs last qtr

This is all open to interpretation and the wording in the presentation, in my opinion, is ambiguous. So just a word of caution to everyone read the presentations and form your own opinion.