Dear Investor,

Calendar 2022 has been a busy year for Port Anthony Renewables (PAR) as we continue to make good progress with the development a green energy and hydrogen hub, which is ideally located on 600 acres of prime industrial land, adjacent to Port Anthony, in the Gippsland region of South- Eastern Australia.

In a very significant development for renewable energy projects, the Australian Government in April this year announced the Gippsland area as priority for Australia’s first offshore wind assessment. The result of this will most likely see Australia’s first-ever offshore wind project developed in the Gippsland region. There are currently four offshore wind proposals off the Gippsland coast.

The change in the Federal legislation has led to a dramatic increase in proposed renewable energy developments in the Gippsland region. At the end of calendar 2021, there were 2800MW of proposed green renewable energy projects. At the end of June 2022, there were 10,800MW of proposed green renewable energy projects in the region.

The coming boom in renewable energy investment in the region bodes well for PAR being strategically located with access to one of the only industrial port facilities in Gippsland, Victoria.

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July 18th, 2022