Investor Presentaiton

South Pole Group Safeguard Mechanism The Safeguard mechanism requires Australia's largest emitters to keep emissions within baseline levels • 100,000 tCO2 threshold • • Covered facilities must keep emissions below historical highpoint (FY09-14) Approx. 140 facilities Separate sectoral baseline for power generation Safeguard 0,5% 11,0% 0,7% ■Electricity Generation Mechanism 11,2% Covered ■ Manufacturing ■Resources ■ Oil & Gas Emissions 14,6% 62,1% ■ Transport by Sector ■ Waste Page 23

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