Ann: June 2023 Quarterly Sales & One-off Costs Update, page-3

Must be a couple, $3.9m of sales… poor sales result anyway it’s looked at. And some business right sizing by new CEO was always going to happen in his first result. Preservation of cash is key here to avoid a CR and dilution. Delay in pontville new distillery is a given now, but, shouldn’t be a core focus anyway. Focus needs to be on cracking export markets as they have the inventory. Need to give new CEO 18 months to leverages his experience and contacts… macro environment is also a big headwind…. That will pass in time. I will look to add once the strategic review is completed and if I have confidence that any CR risk has passed. For now, I hold and let the dust settle.