Gentlemen, and welcome to the 2026 Annual General Meeting of Conrad Asia Energy Ltd again. For those who do not know me, my name is Peter Botten, and I am chairman of the Conrad Asia Energy L. It's a pleasure to be here with you in Singapore, and I also want to welcome those joining us online through the Lumi platform. Whether you are here in person or attending virtually, thank you for being part of today's meeting. Shareholders who are currently accessing the AGM electronically will be treated as present and be named in the attendance list. Before we start, I have a couple of housekeeping matters for those of you in the auditorium. Please ensure, obviously, your mobile phone devices are now set to silent. Online attendees can submit questions at any time. If you are attending virtually and would like to ask a question, please select the Messaging tab in the platform, select the Ask a Question box, and type in your question. Once complete, press select and send the send icon, which looks like an orange arrow. Questions can be submitted at any time. However, these may be moderated to avoid repetition and remove any inappropriate language. You may also ask audio questions by pausing the broadcast and clicking on the link under Asking Audio Questions. For those in attendance in Singapore, please raise your hand and state your name. Voting today will be conducted by way of a poll on all items of business. I will shortly open voting for all resolutions. All votes in the CDI voting instruction forms received from shareholders who hold shares through the CHESS Depository Nominees Pty Limited as CDIs have been received by the company share registry, Boardroom Pty Limited. These have been counted by Boardroom Pty Limited as the polling agent prior to the AGM. Proxies have been received from shareholders representing over 45 million ordinary votes, being 23.44% of Conrad's issued capital. As we proceed through each resolution, the proxy votes for that resolution will be shown on your screen. I will advise you of voting procedures before formal resolutions are considered later in the meeting. I've been advised that a quorum is present and now call the AGM to order, and I declare the meeting open. Before proceeding with formalities, I'd like to take this opportunity to introduce you to other board members who are here in the room with me today. On my immediate left, our Executive Director and CEO, Miltos Xynogalas, Executive Director and COO, David Johnson, and Non-Executive Directors Paul Bernard, Jeremy Brest, and Mario Traviati. Together with our auditor, Tan Lip Kam from Moore Stephens LLP, Patricia Lee and Harsh Moraca from our finance team, as well as our Singapore Company Secretary, Rojean Lai, are also present in the meeting room today. Lachlan Morley, our ASX liaison, and General Counsel, Sally Ting, are also joining us virtually. Ladies and gentlemen, as the notice of meeting has been made available to all shareholders, I will take it as read. As we progress through the meeting, first, we will have my Chair's address, followed by the CEO's address delivered by Mr. Miltos Xynogalas. We will proceed to consider the formal resolutions as outlined in the notice of meeting. Now to my address. This is an important moment for Conrad. In March, we reached a final investment decision on the Mako Gas Project. This was a major step forward for the company. It marks our transition from an exploration and appraisal business to a fully funded, fully contracted gas developer with a clear path ahead. With more than $280 million of the $320 million development capital committed and first gas targeted for Q4 2027, Conrad is now moving firmly towards becoming a near-term producer in one of the fastest-growing energy markets in the world. This morning I want to touch on four things: our progress, our leadership transition, the importance of Mako, and our priorities from here. Miltos will speak in more detail shortly about Mako and about our development and exploration portfolio in Aceh. My focus this morning is on the bigger picture, where Conrad now stands and what we need to do next. Recent events around the world have again shown how important energy security is and how important gas remains in supporting growth, reliability, and development, especially in Southeast Asia. That creates a real opportunity for Conrad. We are well-positioned through the Mako development, and we also have further upside in our Aceh assets. Just as importantly, we are now entering a new phase as a company. As Mako moves closer to production, Conrad must also evolve in how we manage the business, how we allocate capital, and how we structure both management and the board for the next phase of growth. That work has already started. As previously announced, Miltos will step down as CEO at the end of August following a review of his role in the organization. On behalf of the board, I want to sincerely thank Miltos for the enormous contribution he's made to Conrad over many years. He has played a leading role in building this company and helping take it from a small explorer to a business now on the threshold of production. I'm very pleased that Miltos will continue with Conrad in a new role, focusing on relationships with our partners, regulators in Indonesia, and on helping identify and advance new business opportunities across Southeast Asia. At the same time, we've begun the search for a new CEO and are continuing to build a management team that is fit for purpose for the next phase of Conrad's development. The board will also continue to evolve to ensure that we have the right mix of skills and experience for a growing exploration and production company. In the meantime, I will assist through this transition as an Executive Chairman. This has been a pivotal year for Conrad. We have secured a major partner in PT Nations Natuna Barat, put in place full financing for Mako, and continued to move rapidly towards first production in the second half of 2027. That is not long away. We are also progressing exploration appraisal across two Aceh blocks, both of which offer meaningful additional potential for the company. One of the board's key priorities now is to ensure that the progress we are making and the value that we believe sits within the business is better understood by the market. Mako is our first major development, and at more than $320 million of investment, it is a substantial project for a company of Conrad's size. Securing the required financing with strong support from our partners was therefore a major achievement for the company. It also matters because the financing structure reduces the development risk and limits shareholder exposure relative to what is often seen in a first development project of this type for a company such as Conrad. Mako gives Conrad a real platform, not just for near-term production, but for medium and long-term revenue value creation. Beyond Mako itself, we continue to see upside through the broader gas market, a very strong demand, the potential for further production upside from Mako and reserve growth, nearby prospectivity around Mako, and the longer-term potential within our overall portfolio. Gas demand across the region remains extremely strong, and we believe Mako is well-placed to become a highly efficient and competitive operation. From here, our focus is very clear. We need to deliver Mako. We need to execute well on Mako. We need to keep building our Indonesian capability. We need to advance our Aceh assets in a disciplined way, and we need to communicate clearly with existing and prospective investors as the company continues to evolve. This is a really exciting time for the company. The company is changing, the market opportunity is real, and now we have a clear pathway from development to production. The next step is delivery, and I'm confident that with the right leadership, the right structure, and the right discipline, Conrad is well-placed to build and realize substantial value over time. Looking ahead, as we look to the year ahead, our priorities are clear. Deliver the Mako project safely, on schedule, and within budget. Strengthen our Indonesian business unit and regulatory engagement. Advance our Aceh assets and crystallize value through farm-down. Maintain disciplined capital management and transparent investor communication. Conrad is now a fully funded gas developer with a clear path to production and further potential across its broader portfolio. Before we move to the formal business of the meeting, I'd like to thank our shareholders for your continued support, our employees for your commitment and hard work, our partners and regulators for your cooperation and support, and of course, my fellow directors for their guidance and contribution. I now declare the 2026 annual general meeting open. I think I've already done that. We will now move forward with the formal business after our CEO, Miltos, provides you with his speech. Over to you, Miltos. Thank you, Peter, and good morning to everyone. I want to echo Peter's thanks for your continued support for Conrad. The past year has been transformational for Conrad Asia Energy. In 2025, we progressed from a gas exploration and appraisal company to a fully contracted gas development company with a long-term gas sales agreement, a fully funded project, and a clear path to first production. I would like now to give you an update on Mako. Peter has already done that, but I would like to add some more details, which are quite important. As Peter mentioned, in March, we approved the final investment decision for the Mako gas project. An FID requires four things, an execution-ready project design, a binding offtake agreement, secured financing, and a committed contractor base. We now have all four. In July 2025, Conrad executed a binding GSA with PLN EPI for the Mako Gas Field, covering up to 111 BBtu/ day through to January 2037, with a pricing which is linked to the ICP, the Indonesian crude price, providing market responsive oil returns equivalent with export prices. PLN EPI will also finance and construct a connecting spare pipeline at no cost to Conrad, materially de-risking the project infrastructure. This pipeline will connect the existing trunk line that goes to Singapore with the domestic market in Batam. In November 2025, Conrad completed the landmark farm down with NNB, PT Nations Natuna Barat. NNB acquired a 75% non-operated interest in the Duyung PSC, and they will fully fund 100% of future development costs from the facility secured by themselves. This facility will cover CapEx, interest, contingencies, and working capital based on current estimates. West Natuna Exploration Limited, Conrad's subsidiary, will retain a 25% carried interest through the first production, $16 million will be paid to WNEL in three tranches, the proportionate recovery of agreed past costs are part of the farm down agreement. We have already received $5 million, the first tranche, another $4 million will come to us following government approval, which should happen this year. I need to mention here that we will pay a portion of it directly to the tax office based on the tax regulations, the remaining $7 million is payable on first gas. This structure preserves long-term production exposure for shareholders while reducing balance sheet risk. During the year, Conrad settled a dispute with Coro Energy over past cost arrears and subsequently acquired a 15% participating interest in Duyung. I also want to address the Empyrean situation. As announced in February 2026, the cash call dispute with Empyrean was also resolved, whereby Empyrean's 8.5% participating interest will be transferred to WNEL. Just to make things clear, WNEL will retain a 25% participating interest in a Duyung PSC. Empyrean will retain an 8.5% economic interest in WNEL via Singapore SPV structure. We are currently awaiting regulatory approvals for the transaction with Empyrean, which we hope to receive imminently, certainly at the same time as the approval for the transaction with Nations. The resolution of these disputes and the simplification of the Duyung joint venture will ensure full stakeholder alignment as we enter the development phase. Following the GSA and farm down, the board approved the FID for the Mako Gas Project in March 2026. The total CapEx is estimated at $320 million. This is 100 basis. This is gross. In addition, a provision of approximately $35 million, again, gross, has been made for owner-supplied equipment to be novated to the Mobile Production Unit provider and for a potential Mobile Production Unit down payment. Letters of award have been issued covering 88% of the capital costs and approximately 70% of future operating costs. Details have been released over recent announcements regarding the formal contract signing for a drilling rig for the project with PT Pertamina Drilling Services Indonesia through their joint venture arrangement that they have together with PDSI–ADES Consortium, which ADES is a company based out of Saudi Arabia. The Admarine 502, an independent-leg cantilever jackup drilling rig, will be engaged for the drilling of six development wells and the installation of the conductor support frame, the CSF, for a firm period of 180 days, commencing in the second quarter 2027, with options to extend. Details have also been released regarding the formal contract signing for the subsea umbilical flow line and riser, the SURF. This is an EPCI contract with PT Timas Suplindo, which covers first verification of the front-end engineering and design and execution of detailed engineering design for the SURF system, including flow lines, export pipelines, risers, subsea structures, umbilicals, and installations engineering. The same contract includes procurement of all contractor-furnished materials and management storage, fabrication, assembly, coating, inspection, and testing of subsea structures, load-out, transportation, and finally, offshore installation of flow lines, export pipeline, subsea structures, risers, umbilicals, and everything that we need to put together on the seabed to commence production. I know this is a lot of detail, but it is important for the shareholders to appreciate what we really have been doing in the last few months. Further major contract signing ceremonies are expected to be announced shortly, all activities to date have been without any HSE incidents, which is something which is very important for a company that operates in the upstream sector. Finally, most importantly for all the shareholders, just a reminder that the first gas remains on track for Q4 of 2027. Following this information with regards to Mako, I would like to turn my attention to the Aceh portfolio. As I said, as Peter said, while Mako is our immediate focus, I want the shareholders to understand the scale of what we have in Aceh. We hold 100% operated interests in two PSCs, Offshore Northwest Aceh and Offshore Southwest Aceh, covering approximately 20,000 sq km. These are the usual 30-year tenure blocks. We have a number of discoveries. In fact, we have four shallow waters gas discoveries with a combined gross 2C contingent resource of 216 Bcf. We also have identified several leads combining gross and risk prospective resources in excess of 15 Tcf. Four of these leads individually contain more than 1 Tcf recoverable gas. In the third quarter of 2026, we will commence a 500 sq km 3D seismic in ONWA, in the northern block, that goes over the existing discoveries and the prospects in the vicinity of the existing discoveries. Very importantly, most importantly, we are in active discussions with multiple parties regarding a farm-down with these two PSCs. Certainly, we consider these farm-outs to be a value crystallization event, and we will be very disciplined about the terms we accept. We want to ensure that any transaction we have adds value to the company and to the shareholders. Finishing with the specifics on the assets that we have, I would like to give a little bit of a general view about why Conrad and why now. I would like to discuss about the macro picture because it is important in the context for everything I have said. I just want to remind everybody that Indonesia is the fourth most populous country on Earth. It is growing rapidly, PLN forecasts that Indonesia's gas demand will increase by more than 60% over the next decade. From approximately 1,600 MMscfd- 2,600 MMscfd. PLN, just to remind you, is our offtaker in Duyung, PLN is a company that generates electricity, generates power in Indonesia. Therefore, all this gas goes to power generation. The country is diverting LNG exports back to the domestic market because the demand, as I said earlier on, is increasing. Certainly, the government has placed domestic gas prioritization at the center of its energy policy. We have been talking about the macro in Indonesia, and recent events have been confirming that our strategy all along has been correct. I wanted to be direct about our share price. With 22.87% operated interest in a project that is expected to generate close to $3 billion in gross revenues, and with 100% ownership on the other two PSCs, with not just discovered resources, but a very exciting upside. We believe that our current share price undervalues as a company. I recognize that trust is earned through delivery and not just through assertions. We hope that the market will rate Conrad as we hit milestones, which are specific to the projects that I mentioned earlier on. Of course, as we are successful, eventually go to first gas. Our job between now and fourth quarter 2027 is to execute the Mako project to plan, and every milestone delivered is a step towards the valuation we believe that this company deserves. Now we'll go to something really very important and very much related to me. You all know that we recently announced, earlier this month for that matter, that there will be some changes in the leadership. Myself, I will be stepping back from the current position of the CEO. That eventually will happen at the end of August. My career has been built around finding gas in Indonesia, and I have spent the past several years focused on this goal. I personally believe that under my leadership, the company has accomplished certain deliverables. We got Mako to FID with the right partner, the right financing, and the right of take. That has been achieved, now we need to look forward. As Conrad enters in the next phase of growth, I have decided to transition to a new role where I can add most value to the company, for the years ahead, and to pave the way for a new kind of leadership that is required to take Conrad to the next stage as the company is moving from exploration to a producer. Peter has been appointed Executive Chairman, you already know that, with an expanded mandate. The board has also commenced a search for a new CEO. The transition has been carefully planned and Conrad is in very good hands. I leave the CEO role at the best possible moment with a funded project, with a contracted gas buyer, and first gas in sight. That is the Conrad update, and Peter and I are ready for your questions. Thanks, Miltos. Before we move to the formal agenda, now is the time to throw the floor open to any questions on the general conduct of the business. Over to you from the floor. Any questions from the floor? We have also the opportunity at the end of this meeting to have a cup of coffee and discuss the business. Are there any questions online? Yeah. There's a general business question. This is Stephen David Mayne. There's a big political campaign in Australia to introduce a gas export tax of 25%. What are the proposed tax arrangements for our Indonesian project, and how do these compare with the current tax arrangements in Australia and the potential new arrangements that are being proposed, if this political campaign prevails, as many observers think it will? That's a pretty big question, a very broad span. Miltos can talk to the fiscal terms applicable in the PSC that we have in Indonesia, I can probably add some Australian flavor, compare and contrast after that. Well, my answer will be very simple. There hasn't been any changes to the tax terms in Indonesia with regards to the upstream sector. As I have always stated, the Indonesian government is very much supportive of any upstream activities. In fact, for future PSCs, they are trying to find opportunities to reduce any burden and enhance investment in the country. Peter, please back to you for the more general. Thanks, Miltos. I should say that the demand for gas as a transition energy fuel in Indonesia is enormous. If you have a molecule of gas, you have no issues selling it, you will sell it at a very competitive rate, based on a relative international gas price. Indonesia has been very aggressively encouraging the exploration of gas, is very actively encouraging investment in same. We are very well positioned in Indonesia. In Australia, I'll make one controversial comment because I'm in Singapore and probably no one will hear me in Australia. I think the gas industry and energy industry in Australia generally has been very poor in putting and making sure its case for various tax positions in Australia is well understood by the population and the politicians. I don't think the industry has done itself any favors in the way it has characterized how it works, what it pays, what it contributes to society. That has led to some, I think quite challenging debate about where gas taxation should be on gas. There is no doubt that the gas business itself, in my view, should be subject to a domestic market obligation. Overall, without going into the politics of Australia and Australian gas development, Indonesia is actually a pretty good place to be for us, and I don't anticipate Conrad dipping its exploration and development toe in the Australian waters anytime soon. Are there any more questions? No? Okay. Thank you. And thank you, Mr. Mayne, for your question. Okay. I'll now move to open the voting for those who wish to vote at today's meeting. All voting will be done online via the Lumi platform. You should see the Voting tab on your navigation bar. To vote, simply select your voting direction from the options displayed on the screen. Your selection will change color. A confirmation message will appear. To change your vote, simply select another option or press Cancel to cancel your vote. There is no need to press a Submit or Send button. Your vote is automatically counted. You may vote at any time during the meeting until I close the poll at the end of the meeting. Voting for Resolutions 3 and Resolutions 6-11, the company will disregard any votes cast in favor of these resolutions, as stated in the voting exclusion statement of the respective resolutions in the notice of meeting, dated 13 May 2026. As the chairman of the meeting, I will be exercising my right under Regulation 26.10 of the company's constitution to confirm that all resolutions at this meeting will be put to vote by way of a poll. As chairman of the meeting, I will vote all proxies submitted in my favor, including all undirected proxies for which I have discretion, in favor of all resolutions. Results of the poll will be available after the close of the meeting and will be announced on the ASX and posted on the company's website. The first item is to receive the annual report of the company and its controlled entities for the financial year ended 31 December 2025, which includes the financial report and the directors' and independent auditors' reports. This item is for discussion only and doesn't require formal approval. Are there any questions in relation to the preparation of the annual report or conduct of the audit? Are there any questions? There are none from the floor, and I understand none from the virtual reality. There are no questions, we will move on to the first resolution. The first resolution for today relates to my re-election, I will hand the chair over to Miltos, who will then conduct the voting and discussion around that resolution. Yeah, thanks. Thanks, Peter. As Peter mentioned, the first resolution for today is for Peter Robert Botten re-election as a director of the company, appointed on the 1st November 2021. Peter has extensive worldwide experience in the oil and gas industry, having held various senior technical and managerial and board position in several listed and government-owned bodies. Previously, Peter was managing director of Oil Search Limited, overseeing its development into a major ASX-listed company from 1994 until 2020. Peter's current directorships include chairman of Vast Renewables Limited. Sorry. Peter's current directorships include chairman of Karoon Energy Ltd, ASX-listed company. The resolution and voting results are on the screen. Does anyone have any questions? I put the resolution to the meeting that Mr. Peter Robert Botten, who retires in accordance with Regulation 35.1 of the company's constitution, ASX Listing 14.4, and for all other purposes, and being eligible for re-election, be re-elected as a director of the company. Please submit your votes. I will now hand the chair back to Peter. I just want to make sure there were no questions before. No questions. Thank you, Miltos. Please vote accordingly. Thank you, Miltos. Our next resolution is for the re-election of our Executive Director, David Anthony Johnson. David was appointed in the 17th of May 2016. David is a geoscientist and general manager with over 45 years E&P experience in international oil and gas and across the full spectrum of upstream activities: exploration, development, production, business development, and decommissioning. David has worked in Australia, the Asia Pacific, and the Middle East with BP, Shell, Woodside, Mubadala Petroleum, Ophir Energy, Medco Energi, and as a decommissioning consultant. His career has focused on project appraisal, development, and production. The resolution and voting results are shown on the screen. Does anyone have any questions regarding this resolution? None online. No questions from the floor and no online questions. I will put the resolution to the meeting that Mr. David Anthony Johnson, who retires in accordance with Regulation 35 (1) of the company's constitution, ASX Listing Rule 14.4, and for all other purposes, and being eligible for re-election, be re-elected as a director of the company. Please submit your votes. Thank you very much. Resolution 3, approval of directors' emoluments for 2026. The third resolution is to approve directors' emoluments for the financial year ending 31 December 2026. This is the total amount that can be paid to all directors. The company may not use this full capacity. However, the additional allowance provides the board with some flexibility should it wish to appoint additional directors. The resolution and voting results are on the screen. Does anybody have any questions? None online. None from the floor. I will put the resolution to the meeting to approve non-executive directors' emoluments up to $500,000 to all directors for the financial year ending 31 December 2026. Please can you submit your votes. Resolution 4 is to reappoint Moore Stephens as the independent auditor of the company and to authorize the directors of the company to fix their remuneration. The resolution and voting results are on the screen presently. Does anybody have any questions? None online. None from the floor. I put the resolution to the meeting to reappoint Moore Stephens LLP as the independent auditor of the company and to authorize the directors of the company to fix their remuneration. Please can you submit your votes. Thank you very much. As no notice of any other ordinary business has been received, I shall proceed to deal with the Resolution 6 that form the special business of this meeting. Resolution 5 on today's agenda is to seek approval for the directors of the company to issue and allot shares or other equity securities in the company. If this resolution is not passed, Resolution 6, 7, 8, 9, 10 and 11 will be withdrawn. The resolution and voting results for this resolution is on the screen. Are there any questions regarding this resolution? No questions online. No questions from the floor. I will put the resolution to the meeting. Pursuant to Section 161 of the Singapore Companies Act 1967, the Act, and subject to the company's constitution and ASX Listing Rule 7.1 and 7.1A, authority be and is therefore given to directors of the company to allot and issue shares in the capital of the company, whether by way of rights, bonus or otherwise. B, make or grant offers, agreements, or options collectively, the instruments that may or would require shares to be issued, including but not limited to the creation and issue of, as well as adjustments to options, warrants, debentures, or other instruments convertible into shares. At any time and upon such term and conditions and for such purposes and to such persons as the director of the company may, in their absolute discretion, deem fit. C, notwithstanding that the authority granted by this ordinary resolution has ceased to be in force, issue shares pursuant to any instruments made or granted by directors while the authority was in force. D, unless revoked or varied by the company in general meeting, the authority conferred by this ordinary resolution shall continue in force, one, until the conclusion of the next AGM or the date by which the next AGM is required by law to be held. Two, in the case of shares to be issued in pursuance of instruments made or granted pursuant to this ordinary resolution, until the issuance of such shares in accordance with the terms of the instruments. That's a complicated resolution. I'd love to be able to fully explain legally what that all means. I understand it has been fully checked by Company Secretary and our legal. I now ask you to please submit your votes. Thank you. Resolution 6, which is the approval of a 10% placement capacity, which is a special resolution. Broadly speaking, subject to a number of exceptions, ASX Listing Rule 7.1 limits the amount of equity securities that a listed company can issue without approval of its security holders over any 12-month period to 15% of the fully paid ordinary securities it had on issue at the start of that period. Under ASX Listing Rule 7.1A, however, an eligible entity can seek approval from its members by way of a special resolution passed at its annual general meeting to increase this 15% limit by an extra 10%, known as the 10% placement capacity. Resolution 6 on the agenda seeks approval for the company to have access to the 10% placement capacity. Directors have no intention to issue shares under this 10% placement capacity. It does represent a fallback, an important one for the company in the event of its necessity. The resolution and voting results are on the screen. Again, significantly positive results. The resolution and voting results, as I say, are on the screen. Does anyone have any questions regarding this resolution? There's a question online from Mr. Stephen David Mayne. He asks why the company continues to signal a preference for raising capital through selective placements rather than doing a pro-rata raising, which treats all shareholders equally and does not require specific shareholder approval such as this one. He asks if there will be, when we do a future placement, will retail shareholders also be offered an SPP? Thank you for your question, Mr. Mayne. I understand absolutely the sensitivity of having the capacity to issue shares via a placement versus a broader offering to shareholders. In many circumstances, unfortunately, the issuance of a placement and the capital raising of that nature commonly is made under a short timeframe for an urgent requirement. That may be an acquisition, or it may be some form of capital need. That sometimes precludes the opportunity to make a broader raising to all shareholders. This is an insurance policy for us as a company to provide us with an ability to raise capital. There is no intent to do that and no reason why, at this moment, that we would do that. Certainly, we will always consider running an SPP with the placement to give shareholders some capacity to participate. Your sensitivity is noted. Every time I've ever done this in any company, this has always been a question of sensitivity. Sometimes urgency and certainty requires placements and capital raises to be done this way. Are there any other questions? No further questions. Thank you. I will put the resolution to the meeting. That for the purposes of the ASX Listing Rule 7.1A, and for all other purposes, approval is given for the company to allot and issue equity securities up to 10% of the issued capital of the company at the time of issue, calculated in accordance with the formula prescribed in ASX Listing Rule 7.1A2 and as set out in the explanatory statement. Please, can you now submit your votes? Thank you very much. Resolution 7, approval for the issue of securities to Non-Executive Director, Mr. Paul Daniel Bernard, in lieu of 2025 directors' emoluments. In order to preserve the company's cash reserves, Non-Executive Director, Mr. Paul Daniel Bernard, has agreed to receive up to 206,846 CDIs instead of directors' emoluments for the calendar year 2025. Details are in the explanatory memorandum. The resolution and voting results for this resolution are on the screen. Does anyone have any questions regarding this resolution? Yes. Another question from Mr. Stephen David Mayne. He thanks us for disclosing the proxy votes to the ASX before the meeting commenced. There were material protests to the tune of up to 20% of the directed proxies against the four resolutions seeking incentive grants to the various executives. The question is whether a proxy advisor recommended against these grants, and could the chair please explain his understanding of who voted against and why? I think I've had a similar question from Mr. Mayne in another forum earlier this year. I'll reiterate my response to him. Why people vote for or against any resolution is something that is personal to that institution or person. I feel very cautious about implying that I know why they vote for or against any resolution. In general sense, there can be some concern around why people are taking shares in this way. In reality, this is in lieu of cash payments that would've been made on behalf of the company to the director concerned. I think it's a vote of confidence in the company that both these two directors, subject to the text, two resolutions are willing to take shares in the company and back the company through that. I'm unaware of any proxy advisor providing any advice on any resolution for Conrad this year. I cannot opine as to their intention or recommendation for any of these votes. The premise of the question is that these are incentive grants. That is not accurate. Yeah, that's true. These are not incentive grants. They are, as I stated, payment via shares in lieu of normal directors' fees. As I say, I believe it's a positive indication of the directors concerned to take their fees in shares, and back the company to perform accordingly. Are there any more questions? No further questions. Thanks. Well, I will put the resolution to consider, and if thought fit, to pass, with or without an amendment, the following resolution as an ordinary resolution. That for the purposes of ASX Listing Rule 10.11, and for all other purposes, security holders approve the issue of up to 206,846 CDIs to Mr. Paul Daniel Bernard or his nominees on the terms and conditions set out in the explanatory statement, set out in the accompanying notice of meeting. Please, can you vote accordingly? Thank you very much. Resolution 8, approval for the issue of securities to non-executive Mr. Jeremy Leonard Brest, in lieu of his 2025 director's emoluments. In order to preserve the company's cash reserves, non-executive director, Mr. Jeremy Leonard Brest, has agreed to receive up to 206,846 CDIs in lieu of director's emoluments for the 2025 calendar year. Details are in the explanatory memorandum. The resolution and voting results are on the screen. Again, a significant majority in favor. Does anyone have any questions? No questions online. There are no questions from the floor. I put the resolution to the meeting. That is to consider, and if thought fit, to pass, with or without amendment, the following resolutions as an ordinary resolution. That for the purposes of ASX Listing Rule 10.11, and for all other purposes, security holders approve the issue of up to 206,846 CDIs to Mr. Jeremy Leonard Brest or his nominee on the terms and conditions set out in the explanatory statement accompanying this notice. Please can you submit your votes? Thank you very much. Resolution 9 Approval for the issue of securities to non-executive director, Mr. Paul Daniel Bernard, in lieu of his HY 2026 director's emoluments. In order to preserve the company's cash reserves, non-executive director, Mr. Paul Daniel Bernard, has agreed to receive up to 103,423 CDIs in lieu of director's emoluments for the half year 2026 calendar year. Details are in the explanatory memorandum. The resolutions and voting results are now on the screen. Again, this is for the half year in a similar way, in order to preserve cash in the company. Two directors have elected to take CDIs in lieu of that director's fees. Are there any questions? No questions online. There are no questions from the floor. I will put the resolution to the meeting to consider, and if thought fit, pass, with or without amendment, the following resolutions as an ordinary resolution. That for the purpose of ASX Listing Rule 10.11, and for all other purposes, security holders approve the issue of up to 103,423 CDIs to Mr. Paul Daniel Bernard or his nominees on the terms and conditions set out in the explanatory statement accompanying this notice. Please can you submit your votes? Thank you. Resolution 10. In order to preserve the company's cash reserves, non-executive director, Mr. Jeremy Leonard Brest, has agreed to receive up to 103,423 CDIs in lieu of director's emoluments for the half year 2026 calendar year. Details are in the explanatory memorandum. The resolution and voting results are shown on the screen. Again, a significant vote in favor. Does anyone have any questions? No questions online. No questions from the floor. I will put the resolution to the meeting to consider, and if thought fit, pass, with or without amendment, the following resolution as an ordinary resolution. That for the purposes of ASX Listing Rule 10.11, and for all other purposes, security holders approve the issue of up to 103,423 CDIs to Mr. Jeremy Leonard Brest or his nominees on the terms and conditions set out in the explanatory statement accompanying this notice. Please can you submit your votes? Thank you, ladies and gentlemen. We're now on our last resolution. Resolution 11, which is the ratification of the issue of 500,000 securities to Coro Energy plc or its nominee. Pursuant to a settlement agreement, details of which were disclosed to the ASX on the 10th of April 2025. The settlement agreement. Coro was to receive 500,000 new ordinary shares in Conrad following approval from the Indonesia's Ministry of Energy and Mineral Resources. This approval has now been received, and such shares were issued to Coro on 24th of April 2026. The 500,000 shares were issued under the company's Listing Rule 7.1 placement capacity. Therefore, a portion of the 15% capacity to issue shares without shareholder approval has been utilized for the last 12 months. The company seeks to ratify the issuance of 500,000 shares now under Listing Rule 7.4, which will restore the company's full 15% capacity to issue shares under Listing Rule 7.1. The resolution and voting results are on the screen. There's a very strong vote in support of this resolution. Does anyone have any questions? No questions online. No questions from the floor. I put the resolution to the meeting that for ASX Listing Rule 7.4 and for all other purposes, security holders approve and ratify the issue of 500,000 CDIs at an issue price of $0.50 on 24th of April 2026 to Coro Energy plc or its nominee pursuant to the settlement agreement on the terms and conditions set out in the explanatory statement accompanying the notice. Please submit your votes. Well, thank you, ladies and gentlemen. That is the formal part of the business of the meeting. Voting will remain open for a few minutes. If you haven't already voted, please complete your votes before we close the poll. The results of the poll will be announced on the ASX via an ASX announcement once available later today. Ladies and gentlemen, that concludes the formal proceedings of today's AGM, and I'll leave the meeting open for a little while longer just to make sure that we have got all the voting in. I now would like to offer everybody who's here an ability to have a short refreshment and engage with the board and management around any other questions, comments, or input that you may wish to have to Conrad at this time. On behalf of the board, I thank you all for attending and participating in today's meeting. With that, I will close the voting and close the meeting. Thank you very much, everybody.