SHAREHOLDER VALUE ADDED SINCE THE AUGUST 2022 OFFER FROM SKIP CAPITAL, page-29

Good to see the constructive comments from various posters; particularly Mr Lumin.

It needs to be borne in mind that the so-called "Independent Committee" is made up of the Board, except the J-Power Director. Also bear in mind that a, "we do as asked" banker, Goldman Sachs, was appointed to advise the "Independent Committee".

I doubt shareholders will see the terms of the brief given by the "Independent Committee" to Goldman Sachs so shareholders can see if Goldman Sachs has been specifically requested to address the factors that indicate that considerable monetary and other value has been added to the company since the Skip Capital offer of 25 cents per share was made?

Jonny was, in my view, on the ball when he said:- "GNX is a vanity project for Simon Kidston and all management and board wanted was for the company to be acquired." These comments particularly apply to the lead up up to the 25 cent bid from Skip Capital Consortium.

The record shows Simon Kidston was a very active promoter of the legally flawed takeover proposal from the Skip Capital Consortium: (Jackson and Farquhar). Mr Kidston was pushing for the Jackson and Farquhar takeover right up to the end. Mr Kidston is on the "Independent Committee".

I would like to see that Goldman Sachs has been asked by the "Independent Committee" to address the issues @Mr.Lumin and others have raised and be able to read what they say in response. In particular, I would like to read, from the Goldman Sachs report, an estimate of the annual NET income to be generated by the Kidston Storage Pumped Hydro versus the annual repayment of the NAIF concessional loan, once commissioned; (ENERGIZATION in H2)..

As has been pointed out a full quarter of results for the Boulderscome Battery will be available next month. That may cast a different light upon company cashflow.

I very much doubt that if the Chairman of the "Independent Committee", who might very well be Simon Kidston, was asked, in writing, he would provide the estimate of the NET annual income from the Kidston Pumped Storage Hydro and annual repayment of the NAIF concessional loan, after full energization is reached.

I guess many of us are aware of the financial challenges Genex Power Ltd has had to confront. To me the main problem has been that the Solar project has not yet been built out to the extent planned and the wind project remains on the drawing board. The electricity, (power), that these two projects could and eventually will produce, would, I assume, be far more valuable to GNX if that power was managed as an integral component of the power management system for the Kidston Pumped Storage Hydro?

We know GNX is now the only ASX renewable energy company. This begs a questions:-

Has the "Independent Committee" asked Goldman Sachs how GNX might try to attract one of Australia's many superannuation funds, {(like the giant Commonwealth Superannuation Corporation.(CSC)}, to a proposition whereby the superannuation fund could join Skip Capital in both holding about 19.99% of GNX; (with the purchase of new GNX shares)?

GNX's primary funding source is the taxpayer funded $625 million concessional loan. It would be good to know if the GNX "Independent Committee" and Goldman Sachs have fully addressed the Australian Owned issues?

Skip Capital, because it is owned by two individuals, Farquhar and Jackson, cannot simply renew their legally flawed August 2022 take-over bid. Perhaps they have considered getting behind the thousands of Australian GNX investors committed to climate change/renewable energy technology by doing what is suggested above; bring in an Australian Superannuation fund to take up a holding of about 340 million new GNX shares to provide a substantial capital input into Genex Power Ltd?

340 million times 27 cents - $90 plus million? Chicken feed for the likes of the Commonwealth Superannuation Corporation but an amount that could really put Genex Power Ltd on the road as an Australian owned renewable energy developer and producer.

As revealed today by Renew Economy, Australia still has much to do to achieve set targets. J-Power well knows Genex Power Ltd has three projects well and truly in the development pipeline:-

https://reneweconomy.com.au/states-need-to-do-a-lot-more-in-race-to-82-pct-renewables-because-capacity-scheme-is-not-enough/.

Skip Capital is also well aware of this so perhaps they or another party will emerge as players in the GNX story?