Ann: Redflow Investor Presentation, page-2

Very disappointed once again the management has failed it primary responsibility of protecting the shareholders interest . They had a clear path to not requiring a CR by enabling the 10c options. To much focus on their bonus and not enough on sales . With Gen3 coming to market very little was done to make the market aware . No good waiting around for the big sale they will come after the fist step of small sale building up. The market dilution is now becoming unviable. Time to rethink the board and CEO they are doing nothing .these presentation are no more than a "this is were we failed" We were told two year ago that the funds for expansion were already available ,we were told last year that there was plenty of financing from interested party's on hand . Now here we go again have failed to delivery the last options why should any shareholder support another CR to support a management team that don't deliver year on year , They keep building a very large team which has not delivered even and modest sale stream. I been a supporter from a very long time but the time has come to no longer put money into RFX .They have the tools to start earning a living and that what should be happening. Pull back and sell within the capacity to produce until such time they prove their ability to run this company .They spent a lot of time and effort on South Africa and now no mention of it They have some good installers in Australia so expand on this ,it make more sense than chasing big contracts in the grand old USA. Concentrate effort on a market they know and have made some good headway into . Promote the product at home and build a base and then expand. There is absolutely no guarantees that any of these project in this presentation will succeed (as they have been in every presentation for the last two years )but we do know that they has made good progress in to the Australian market , bring the marketing team home and let them build up here first. The Australian market has to be greater that there capacity to produce. Then when they lean how to run this company let them expand , The whole thing is being done backward trying to start out big and get smaller well they succeeding in that . So change the board who have not carried out there duty's in protecting the shareholders interest . cut bonus until such time the show some positive results.