Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-6

Do you read the announcements?

The regulatory assurance that funding partners wanted/needed was the Investment Tax Credits which passed parliament and were signed into law on 19/6/2024.

The Clean Electricity Regulations matter little to the CC-CCS projects thanks to the ITC providing reimbursements of 50% of the CCS related project costs. This makes the projects economical even with the added cost of the CCS component so the CERs are not as relevant to this part of the business.

Saddle Hills IS impacted by the potential final CERs due to the current configuration of the plant. The draft regs allow for SH to operate as a peaker with virtual no negative impact to KPO, the risk is that this could change dependent on the final regs.