Ann: Annual Report to Shareholders FY24, page-15

Hi guys,

In the annual report, there are some findings,

Page 27 to Page 29, Number of KMP has decreased during FY 24, and ongoing to be reduced for FY 25. New KMPs have lower salaries than resigned KMPs. Is this related to previous KMPs were required to assist to acquire lots of companies in a short period of time and as DGL moves towards internal growth, they are redundant and told to resign? Or the talents are leaving?

Note 10 Page 44, DGL has a increasing past due accounts receivables and they have assumed lower loss rate or they ccould report worse Loss Allowance. Are they really confident to collect those cash back? It is AUD 906k loss allowance in FY24 (increased from FY23 543k). Without lower Loss Rate the FY24 than FY23, the loss allowance can be as high as 1.783 million.

Note 12 Page 45, The property in Wellington NZ is sold with a loss of AUD 2.6 million to its book value and will be shown on Other Income in 1H25. 38 Seaview Place Book Value AUD 14.06 and Sold Value NZD 12.5 million. The Nambour project should also worth less in the market than its carrying value.

However, we can see DGL's intention to intergrate its network and remove less yielding assets, this NZ Wellington site will also be closed by April 2024. There should be staff layoffs.

Note: The property DGL has sold in FY23 and FY24 are all in gains.

What will DGL do with the cash they receive from the sale of 38 Seaview? The settlement date is 10th Oct 2024.

Note 16 Page 51, Once the LWTP commissions, its capacity can be "fed up" straight away from its current ULAB acid waste water. This is likely to boost the earnings, but we don't know if it will be delayed again.

I wonder how the Unanderra currently treats its waste water? and how will the equipment be replaced and used for?

Finally, does anyone know what type of minerals DGL involves with mining companies?

Please share thoughts.

Thank you.