"We continue to focus on identifying prospective early...

"We continue to focus on identifying prospective early commercialisation opportunities for the Hazer process in
these regions and across applications, including heavy manufacturing, steel production, power generation,
and transport. The Company is in various stages of discussion – from enquiry, exchange of confidentiality
agreements and various levels of due diligence - with over 20 major international companies across Europe,
Japan, Asia, North America and Australia. These discussions are continuing, with the aim to progress towards
securing the first generation of commercial opportunities that Hazer are seeking to build on the platform and
learnings established by the CDP.

To support these key business development activities, the Company is progressing an engineering study with
Chiyoda Corporation, which will update the Concept Study for a commercial scale Hazer Plant of a nominal
2,500 tpa capacity.

This initial study will provide the platform to advance our discussions with interested Japanese parties and the
potential collaborations with our European, Asian, North American, and Australian partners mentioned above.
The completion of this study is expected in H1 FY2022.

We continue to target our previously outlined goal of maturing at least one potential project opportunity through
to a feasibility study stage through 2H CY2021 in parallel to completing the construction of the CDP.