Ann: Response to ASX Aware Query, page-5

"The second tranche performance milestone related to the execution of a new licence agreement with a third party for the utilisation of OBJ’s ETP technology (Performance Milestone 2).

On 3 April 2017, OBJ announced to ASX that it had executed two new license agreements for the use of ETP technology.

In terms of Performance Milestone 2, although the Board is of the view that the milestone has been satisfied (resulting in the accounting treatment set out in the Appendix 4E) the Board has subsequently formed the view that it would not be appropriate to issue the shares to the relevant directors associated with Performance Milestone 2 and will be making separate announcement to ASX to that effect.

The third tranche performance milestone has yet to be satisfied. "

1. "As noted above however notwithstanding the view that Performance Milestone 2 has been satisfied, the shares associated with this milestone will not be issued to the relevant directors. "