General Discussion, page-25

I have been in contact with Wayne Best to congratulate him and the Board on the recent Grasim partnership and to ask him about the upcoming capital raise and the share price going into December 2020 where the options are exercisable at 30 cents.

He said he was expecting a better response from the market because the agreement was with one of the largest fibre manufacturers in the world who have experience growing the market for new eco-fibres. He reiterated that this was the last stage in the chain between supply and market. He said it was al systems go now that they can actually provide fibre to customers.

He said that the significance of the partnership was not lost on potential customers:

"I should also note that while the response to the agreement from the market has been underwhelming, the response from our industry colleagues and potential customers has been excellent. They really get the significance of this agreement. I think in their minds it has taken Nanollose from just one of a number of start-ups with a great idea to an emerging new technology poised to deliver on its potential."

He agreed that the share price at the current levels would not reap much capital, and he was unsure whether the company would go with a rights issue or placement. I suggested that there might not be much interest from retail investors given the share price has been fairly low for some time and many would have already bought on market if they were truly interested in adding to their position. I stated that I didn't have any more money to invest in NC6 at this stage.

He agreed the options are out of the money at the moment, but he said that things would progress well this year and it was still possible to see the share price rise to above 30 cents. He anticipated more announcements in 2020 than in 2019.

He acknowledged there are still some risks.

Generally, I got the impression that he was pleased with how well things are going and was optimistic about the future.

Hope this informs some holders a bit about where the company is.