Ann: Appendix 4D, page-9

Wouldn't read too far into this. I won't repeat verbatim discussions held in confidence, however, my conversations with the board have been very different from that of Jazza. Genex is technology agnostic. They are very open to batteries but the case just doesn't stack up yet from site suitability, finance and adherence to growth strategy.

Data around battery prices dropping ~18% a year was quite widely distributed last year. However, there are delays in acquiring (demand), metals price shifts projected and price increases by some of the larger manufacturers have already been negotiated.