Ann: Local Government Committee Supports HFfree BAM Facility, page-40

Hi un4givn, increases in the pre-production capital expenditure from what was released in the engineering study are definitely a possibility, particularly in this inflationary environment. But the way I look at it, inflationary pressures are unlikely to subside in the near-term and I certainly don't think we'll reach a point of deflation i.e. the capital requirements to develop a BAM facility are only going to increase as time passes. This will impact the cost to develop future BAM facilities, not just for EGR, but also for our industry peers. Thankfully, we are fully funded for Phase 1 -- we have a bit of financial a buffer -- and we are very close to receiving our approvals and commencing construction.

GR Engineering has a good track record of delivering on time and on budget. Let's hope Kwinana will be another feather in their cap.