Ann: June 23 Results Investor Presentation, page-17

Thanks for your post and the details on Cosmos Shoji

My comment on business growth outside the O&G sector was based on what they have indicated previously, and repeated in the latest presentation regarding their subsea buoyancy options for renewables (offshore wind).

I appreciate that this Cosmos contract is strictly not O&G, but reading the announcement, it appears that it may be a similar application of their product, but nonetheless, if it helps broaden their market than all the better.

Their advanced material division also does not seem to be in the O&G area, but has only generated around 0.8-1.5m pa over the last 3 years so less relevant.

The hope is that these other sectors start making a bigger contribution to revenues, as that may help offset the highly cyclical nature of the O&G sector which is why they seem to have gone from very good to very lean times.