Investor Presentaiton

QUBE RAIL LOCOMOTIVES TODAY Qube has commenced replenishing our locomotive fleet with new locomotives that are adaptable for biofuels. Engaging with customers to seek a modal shift to rail where viable Biofuels ■ Work with suppliers and distributors to trial biofuels Battery/Hybrid Implemented initiatives focused on improved operational efficiency and adoption of technologies that may become available and viable e.g. battery technology Engaged with suppliers and manufacturers to trial hybrid technology that may become available on short haul shuttles i.e. Port Botany to Moorebank Hydrogen ☐ Hydrogen supply chains are yet to be established at scale for rail networks and operators 2022-2027 ■ Locomotive replenishment program (long term/investment viable) ☐ Biofuels sourcing of high quality biofuels that are commercially viable ■ The biofuels use is also dependent on the age/technical capability of the locomotives Battery operated locomotives on short/shuttle runs Pilot project - Retro-fitted batteries dependent on manufacturers and supplier support Hybrid shuttle train trial 2030+ Reduce Scope 1 emissions intensity by 50% Increased number of hybrid locomotives on short/shuttle runs if pilot program is successful Hydrogen ☐ Anticipate significant progress in hydrogen (fuel cell) technology which would allow for pilot projects on the Australian rail ■ Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing 2050 ■ Aspirational goal - Net Carbon Zero Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing

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