Green Energy, On Demand

Bouldercombe Battery Financials BBP will leverage energy market arbitrage and FCAS markets to deliver strong and predictable revenue streams Bouldercombe Illustrative Net Revenue Offtake Revenue Split - Illustrative Example Year Revenue share Merchant revenue retained Genex fixed revenue Initial Capex of $ $58M-$60M¹ to develop the asset Average revenue to 2030 $11M-$15M² per annum Operating life expected to be greater than the 20 year warranty Strong EBITDA margin of >75% expected from BBP + FY2024 FY2025 FY2026 FY2027 FY2028 FY2029 FY2030 Equity Case Project Revenue ■ Banking Case Project Revenue Genex | Green Energy, On Demand | Presentation 1: Includes owner's costs, contingency and financing costs all subject to final FX rates 2: Average revenue range based on bank case and equity case assumptions (including plant retirement, new plant including competing battery developments, contingency events, foresight, transmission losses and other factors). Post tax equity IRR of 9%-17%2 13

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