Ann: 2024 Annual General Meeting Presentation, page-11

Hi William

Thanks for the links to the two meetings.

I thought the questions from investors, including you, werevery good and relevant. RG’s answerswere deliberately unhelpful, and often dismissive. It’sclear that PGH intends to provide no guidance, no trading updates and the minimumamount of reporting that it can get away with under the listing rules. Hence nomore info until late Feb. I thoughtHarris and Gandur were remarkably polite and fair in their questions: they, andwe, deserve better and more respectful responses. The current Board doesn’t seemconcerned about overseeing a catastrophic decline in share price. Amusingthat RG referred to the low share price since the bid expired as vindicationfor him offering only 84c. Despite all this I am an enthusiastic holder andwill continue to buy. It does make mewonder why PGH bothers to have an Investor Relations manager, since RG doesn’t carewhat minority shareholders think, and just wants us to go away.

The voting results were excellent, and show the Board exactlywhat investors think. Even though RG refused S Mayne’srequest to provide the number of people voting for and against, as wellas the votes, it’s very clear from the votes: almost everyone other than RGvoted exactly opposite to what the board recommended! Rem Report was 99.5% against and 99% voted forthe spill resolution. If you subtract RG’s vote, fewer than 400K (0.1% ofshares) voted for Chua, Perkins and Smith I would be embarrassed to serve as a directorif I saw such voting. Well done everyone