Ann: Company Update, page-17

Heres my summary. Taken notes, not verbatim, coudlnt type fast enough.

ADO Webinar – 28/2/2024

· Currently market is struggling to get past 15% silicone anode

· EDC market being targeted by Anteo new product NXT. EDC total market is 700m per annum

· EV Europe company – inhouse in ADO results validated EV Europe testing

· EV Europe company – Design freeze is ultimate goal

· EV Europe company – Each battery could use 1 litre of AnteoX

· Carbon Nanotubes range in price $8k to $12k per kg. Use of AnteoX reduces amount of Carbon Nanotubes required?

· Engaging with several Carbon Nanotube companies to work with ADO to incorporate Anteo X to their solutions

· Interest from other vehicle manufactures following from recent battery show

· Developed opportunities for consumer electronics, gen 1 vs gen 2.

· Currently 650 cycles at 80% retention on high silicone anode.

· 2^nd gen for high storage systems, will require 1000 cycles.

· Both projects (Gen 1 and Gen 2_ will be put forward for government grants.

· Production Facility - This ability to produce Anteo x gives enormous credibility from customers/potential customers. Yet another credibility point as we look to partner with clients.

· 2023 KPIs – didn’t hit all of them, DR acknowledges that. They were big targets.

· 2024 KPIs – Aiming big, we are wanting to make 2024 the year of ADO (He stole your moniker@opel24v lol). They are a stretch target.

Question: Dec2023 on battery enhancement of customer - We were able to reduce 500 costs per battery using Anteo x . “we are doing a tremendous job in reducing costs and enhancing performance”. Results are exceeding our (ADO) expectations.

Question – Production Facility - Commissioning is underway, validation of output. Part of going through iso 9001 process. ADO had surveillance audit and reported zero non conformances.

Question: Sales of AnteoBind and Anteo NXT – currently engaged in advanced negotiation with large company. NXT has been validated and releasing it to targeted POC companies. Feedback is that cost point is comparable to current products, ease of use is significantly enhanced. Sensitivity is good too.

Question: How do we see ADO today: We have bult solid foundation for growth. Broad portfolio of opportunities. I’m excited for the year ahead. We are all shareholders in the company.

What was interesting to me that were at 650 cycles at 80% retention on high silicon anode. And the bit around Carbon Nanotubes and how much AnteoX is needed per vehicle battery.