Ann: FY22 Appendix 4E - Investor Update, page-11

I commend your optimism and support for the management team of DEL. Honestly we need more long-term SHs, like yourself, for Australian start-ups that can make a positive impact economically and environmentally.

On another note, I will reiterate my opinion on investing in the start-up space for the HC lurkers who may be considering jumping in to small/micro caps on the ASX. The management team is, in my opinion, the #1 factor in investing and to do your DD on them to determine whether to invest. I extend this to investigating their entire workforce and background experiences they bring. I would love to see the board poach a proven senior executive from a similar established European company. This may cost >$1million in compensation but I'd bet my hat that they'd save a lot more by avoiding some these "one-offs".

Dabozza has succinctly stated some crucial points that supports my DD previously and I hoped my previous posts at least spur some critical thinking to potentially revaluate investment strategies. I do understand that it is unhelpful to say "I told you so" retrospectively, especially with the intention that I'd like to buy into the company at the right price.