Ann: Annual Report to shareholders, page-3

India,

On the project preparation  front, the ‘Design for Tender’ program is underway, which will deliver core engineering definition for the project, and allow the tendering of the design finalisation, procurement and construction for the integrated demonstration plant.

Additionally, some preparatory legal work will also be
undertaken to support timely completion of the funding agreements and tender initiation phase once the MPA is signed.

These activities will continue through the balance of this calendar year.


As it currently stands, ECT is unable to make any detailed comment as to the status of the review due to the necessarily strict confidentiality obligations. However,
we would note that consistent with our recent updates
to shareholders; we continue to maintain our presence and availability in India and, in seeking guidance on me frames, will report to market as new information comes to hand.

Assuming that the MPA is in due course signed by the parties, comprehensive agreements covering corporate structuring, funding, project services, technology licensing, design, manufacturing, construction and more will be developed in line with the framework contemplated by the MPA.


BM ,

As this Annual Report goes to print the final test report is being completed, and notwithstanding some further challenges posed by the commercial constraints of operating on a unique site, we believe that this program, linked to future projects in India and the Latrobe Valley has demonstrated our strong alignment to the state
and federal mandates for lower emissions technology development while balancing energy a ordability and reliability.

Hydromor,

We hold a provisional patent applica on for HydroMOR, with the planned next step being the formal submission of an international patent application based on the provisional patent application.

Matmor Overseas Ruling,

The Matmor ‘Advanced Finding and Overseas Ruling’ application is currently in progress following submission to AusIndustry ahead of the 30 June 2017 deadline
for previous financial year overseas expenditure to be included.


ELF,

The successful program established over $14 million in loans in addi on to the ~$4.05 million in cash received during July and August 2017 from standard options exercise.

Executive and Director Incentive Plan

• The Board considers it important that a component of executive and director remuneration be by way of the issue of Company securities to help align their interests to the success of the Company. The Plan permits the grant of bonuses in the form of shares, options or rights on an annual basis to KMP (including execu ve directors) as an incentive component of their remuneration, to reward performance against benchmarks agreed by the Board, and to reduce the cash expenditure of the Company. The Plan does not contemplate the issue of securities to non-executive directors.