Ann: Update on Graphenera-LWP.AX, page-2

"Since LWP’s market release on 14 June 2016, LWP has finalised its investment in Graphenera Pty Ltd (GraphenEra), which entity will progress work on the Graphene Synthesis and AluminiumGraphene-Air battery technology outlined in the previous release. LWP holds 50% of Graphenera. LWP’s joint venturer in GraphenEra is VVV Technologies Pty Ltd, a company associated with Viktor Volkov. Prior to finalising its investment, LWP undertook extensive due diligence. This due diligence included retaining independent technical consultants and patent attorneys to examine intellectual property rights and the patent applications in relation to the Graphene Synthesis and Aluminium-Graphene-Air battery technology. It has come to LWP’s attention that certain social media commentary has commented adversely on Graphenera, the technology being considered and progressed and some of the participants involved. There is concern that these rumours may result in trading in LWP shares on a misleading and uninformed basis. As a consequence of this, the LWP board, despite having successfully completed all of its due diligence investigations, has taken further steps and made further investigations and inquiries, in the best interests of LWP shareholders. The board is pleased to report that after these further investigations and inquiries, nothing has come to LWP’s attention which would cause concern in respect of either the nature or extent of the due diligence undertaken prior to the investment in GraphenEra, nor which would undermine the confidence and belief the board and management of both LWP and Graphenera having in the Graphene Synthesis and Aluminium-Graphene-Air battery technology. LWP will continue to update the market as and when required and where considered appropriate."