Investor Presentaiton

Hydrogen projects in South Australia Port Lincoln Hydrogen and Ammonia Supply Chain Demonstrator THE HYDROGEN UTILITY™M H2U "South Australia is at the forefront of both renewable generation and hydrogen infrastructure developments and we are very pleased to be able to develop our project in this important market" - Dr Attilio Pigneri, CEO H2U The Hydrogen Utility™ (H2U) is a specialist developer of hydrogen infrastructure solutions for sustainable mobility and renewable energy storage applications. H2U is developing a facility integrating more than 30 MW in water electrolysis and distributed ammonia production, near Port Lincoln in South Australia. The South Australian Government has provided $4.7 million through a grant and additional loan funding to deliver the $117.5 million project. The plant will use 100 per cent wind and solar generation to produce up to 18,000 tonnes of green ammonia a year to supply the local agriculture and industry sectors. This is a globally significant demonstration project for the emerging hydrogen energy sector, being one of the first-ever commercial plants to produce carbon dioxide (CO2)-free green ammonia from intermittent renewable resources, and to demonstrate the adoption of green hydrogen across multiple value chains. The plant will also feature two 16 MW open- cycle gas turbines operating 100 per cent on hydrogen at the site to provide electricity generation to the grid during periods of low wind or solar output. The project has capacity to provide a truly self-contained solution to firming renewable energy supply within the South Australia grid. Considered one of the most prospective chemical carriers of hydrogen, green ammonia - a chemical compound of nitrogen and renewable hydrogen - is also a potential fuel for large-scale power stations, making it an attractive export opportunity. Along with the Government of South Australia, H2U joined Japan's Green Ammonia Consortium in July 2019. The consortium comprises of more than 70 companies and institutions, the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Trade and Investment Commission. In August 2019, H2U executed an agreement with Australian iron ore mining and exploration company Iron Road Limited to collectively develop a commercialisation pathway for a multi-user, multi-commodity deep water port at the proposed 1,100 hectare site (pictured below). Hydrogen Superhub at Crystal Brook Energy Park NEOEN Neoen Australia is an Independent Power Producer specialising in renewable energy projects across multiple technologies including solar, wind and storage. With more than 1 GW of assets under operation or construction in the country, Neoen is the owner and manager of the world's largest lithium ion battery located in South Australia, which uses Tesla Powerpacks to store up to 100 MW/129 MWh of energy. The Crystal Brook Energy Park development is a $500 million renewable energy project that combines storage, solar and wind, located about 3 kilometres north of Crystal Brook in South Australia's Mid-North. The park is a 275 MW renewable energy facility with up to 125 MW of wind generation comprising 26 turbines, 150 MW of solar PV and 130 MW/400 MWh of battery storage with a purpose built sub-station to deliver the power back into the South Australian grid. The South Australian Government provided Development Approval to the Crystal Brook Energy Park in mid-2019, with construction aimed to begin in the second half of 2020. The Crystal Brook Energy Park development aims to change the role of renewables from just providing power when available to providing firm power 24-hours a day. This is essential for long-term sustainability and it will be the first of its kind to offer this type of power service in Australia. The South Australian Government has awarded a $1 million grant to Neoen to conduct a study on the technical and economic feasibility of a hydrogen production facility at the Crystal Brook Energy Park. The proposed 50 MW Hydrogen Superhub would be the largest co- located wind, solar, battery and hydrogen production facility in the world, with the potential to produce about 25,000 kilograms of hydrogen a day using 100 per cent renewable energy. "The Crystal Brook Energy Park in South Australia aims to change the role of renewables, from just providing power when available to providing firm power 24-hours a day. This is essential for long-term sustainability and it will be the first of its kind to offer that type of power service in Australia. Having completed the first stage of its feasibility study in late 2018, discussions are underway to optimise the hydrogen production facility, including through hydrogen production at the Crystal Brook Energy Park site or alternatively to construct a direct transmission line to a nearby port for potential export. The Hydrogen Superhub has significant potential as a world-scale project that can produce large quantities of renewable hydrogen at a competitive price. At the time of awarding funds to Neoen for the feasibility study, the South Australian Government also committed to provide a further $4 million grant and $20 million in loans should the project proceed to financial close and construction. "The introduction of hydrogen as part of a next generation of clean energy storage technologies is highly prospective for South Australia's renewable energy industry." - Garth Heron, Head of Development, Neoen Australia Artist's impression for Iron Road's Cape Hardy Stage 2 Capesize Port. Image courtesy of Iron Road. 13 South Australia's Hydrogen Action Plan Government of South Australia September 2019 The Hornsdale Power Reserve developed and owned by Neoen, built by Tesla at Neoen's 309MW Hornsdale Wind Farm in South Australia 14

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