Ann: Industry presentation - AABC Europe 2024, page-99

Lots of discussion, differing opinions and a bit of angst on this board at the moment.

All of us are different with our personalities and investment strategies and this will always lead to very different opinions regarding ADO's current situation and most particularly the current capital raising.

If there is one common thread that I believe share holders that have chosen to remain on board share, is that we believe our energy storage technology is valuable, however, we need to finalise some commercially binding agreements as a matter of urgency.

In my opinion it is the risk/reward perception of ADO that has changed.

The reward hasn’t and is still potentially huge, the risk however has increased dramatically.

When the new management and board took control several years ago, the broad perception was that the commercialisation of ADO would now progress and quickly.

Now, two years down the track, with two new capital raisings' and no signed agreements, the risk that we won’t survive to commercialisation is significantly higher.

Several posters have highlighted, that in their opinion, if we haven’t finalised agreements in the next 12 months, it will effectively be lights out.

Unfortunately, this is a very reasonable observation.

Also, seeing the ridiculously low SPP price with attached options, was seen by many, not as an opportunity, but a high risk signal and possible desperation.

Accordingly, I believe that many shareholders, including myself, are continuing to hold more in hope, than confidence in the current management and boards ability to get the required result.

This has also been evident with many shareholders, particularly long termers, choosing not to partake in the SPP.

Investors shouldn’t be expected to keep putting their hands in their pockets, without either showing a return, or at least being provided with meaningful commercial information, indicating how they will see a return on their investment.

It would be great if we could be given some information from the company regarding our commercial progress, but unfortunately, this is unlikely until we hopefully see a signed agreement.

In the meantime, we can only hope that our technical developments continue successfully and we get appropriately advised of this progress by the company.