Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-17

George,

Good to see things are coming along, im sure you will get your money back, GLA. Im holding.

During the March quarter, Panasonic progressed the fabrication of the unit, which landed in Melbourne late June. The site and unit are currently being prepared for installation in August.

The preparation of the site for the installation of the Panasonic H2 Fuel Cell adjacent to the existing COLDry demonstration plant and LPG vessel.

Initial commissioning of the fuel cell will be performed using bottled hydrogen. Following Phase 2 completion, the fuel cell will utilise hydrogen produced from the Viridian Hydrogen Demonstration Project to supply electricity to the site and the grid.

Separate from the Company’s planned Viridian Hydrogen Project in the Latrobe Valley, an international
consortium has been advancing the Hydrogen Energy Supply Chain (HESC) project.
On March 3, 2023, Japan’s Ministry of Economy, Trade and Industry announced that Japan’s $21.7Bn Green
Innovation Fund would commit $2.35Bn toward the HESC project, which aims to produce clean hydrogen
from Victoria’s vast, world-class lignite resource for export to Japan.