Ann: Notice of Annual General Meeting/Proxy Form, page-2

Hello All,

I will be voting No:

Resolution 1: Remuneration Report

- Directors and Management left AJM with AUD 1,098,000 cash in the bank at the end of September. This caused a Director to provide an emergency loan of AUD 2,800,000 to keep the company afloat with cash. If the company had cash it would not have needed an emergency loan.

- I think the remuneration of our executives is excessive considering our managing director alone has received compensation of approximately AUD 1,000,000 in prior years. Check prior annual reports. When the company is profitable and making money happy to consider a higher salary.

- I do not believe this high compensation is suitable when the AJM continues to breach debt covenants (prior breaches have been waived by debt holders, September 2019 waiver still outstanding), and is not producing enough cash to cover costs. Hence the proposed capital raise for AUD 21.5 million.

- If Directors and Management had raised money prior to PLS.ASX capital raise - we would have raised money at 10 cents a share or higher. Instead we are proposing a capital raise of 6 cents that looks increasingly unlikely as every day we trade below the proposed price.

Resolution 4: Additional 10% capital raising capacity

- Company states this is take advantage of opportunities. I am not comfortable with this. The company should be focused on paying down debt and not diluting shareholders further. In my opinion it is our best interest to not allow further dilution that makes it increasingly unlikely to ever get above 10 cents let alone 40 cents.

I will be voting Yes"

Resolution 2, 3, 5 and 6. These are in my opinion shareholder best interests.

Best of luck - this is our time to be heard.
Pink.