Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

Key items

A decision on the preferred technology solutions for the MWCEP will be made as part of the K-Consortium entering into a joint development agreement and prior to entering into FEED. Significant progress has been made in securing firm commercial offtake arrangements for clean ammonia production through direct equity participation in the MWCEP with the recent confirmation of the K-Consortium’s support for the MWCEP.

Pilot has also continued its broad engagement outside of the K-Consortium with a focus on partners and customers for the Carbon Storage ProjectSeparately, the team are actively engaging with Australian and international emitters on a range of carbon management solutions.

Pilot is currently finalising two carbon storage management terms sheets with potential customers, with the initial assessment of the opportunity to capture and store carbon from a confidential Mid West emitter supported by the recent Commonwealth $6.5m grant