Good morning, and welcome to the Oracle Power PLC Green Hydrogen Project Investor Presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged and can be submitted at any time via the Q&A tab situated in the right corner of your screen. Just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company will review all questions submitted today and publish responses where it is appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Naheed Memon, CEO. Good morning to you. Hi. Thank you for this, and thank you everyone for joining us today. Oracle put out an RNS yesterday updating the market on the development of our significant green hydrogen project, which is being developed in the Jhimpir Wind C orridor in Pakistan. In relation to that, there has been very, very swift progress and we updated the market in relation to that. We've also received questions. We've also received interest, you know, over the past many days and weeks as to how we are progressing generally overall. I think I would also take the opportunity today to sort of discuss our roadmap as to how we're going to progress and what we really do in relation to, of course, our green hydrogen project specifically, but also overall. The roadmap that we use, and this is something that I guess we would like to sort of share with our investors, our supporters, et cetera, is that we as a company, we are project developers. We develop. Right now we are developing a number of large projects, the green hydrogen project being one of them. The genesis of the project is sort of within our company. We build it, we develop the sort of model. We obtain all the necessary permissions. We set up the landscape for the development of the project. The projects that we identify are relevant to the global trends. They are in demand. They are in sort of in alignment with what the markets in general need, require, and they have an intrinsic commercial value. This is the sort of identification process that we undertake. Once the project is identified, it is built. We partner with only the largest companies and that is of course something that we've already established. The partners that we have for all our ongoing projects are either the largest utilities in the world. Some of the largest companies in the world are involved with our projects. We sort of join the dots. We de-risk the project, which is very essential, and that is where we you know are very grateful to your support as well. We de-risk the project, we develop it, and we take it to a point where we are able to bring in the right financing arrangement in place, which involves debt from the market, banks, lenders, financiers, big equity players. They come in and the project then moves towards what we call a financial decision, a financial close, et cetera. At which point Oracle then has an option of either staying within that company or sitting, you know, us sitting in a small place within that company. Essentially, whatever it chooses to do, we as developers, shareholders, investors, stakeholders, can then benefit from the potential upside, which then starts to fall into place as soon as the project starts construction. We have demonstrated this. We've demonstrated it just a few weeks ago when we announced our Australian farm-in agreement with the Northern Zone project. For that project, if I can just use that as an example, we built that project. We did the drilling campaign. We assessed. We sort of did all the investigative work. We took it to a point which then warranted further exploration and work. At that point, we said to the market that we are now out there looking for the right JV partnership, and once we've got that in place, work can continue. That's what we've already demonstrated, and I'm very hopeful that we'll be able to update the market, of the next development, for that project as well using this model that we've just sort of, I've just spoken about and that we've put into place. This is the model that we generally use and we will use for our project development going forward. This is exactly the model that we're going to be following for our green hydrogen project as well. I think now if I can just take our shareholders and all our participants today through the update that we shared for the green hydrogen project in Pakistan that is currently being developed and it is progressing at a very fast pace. Hence I thought it's only you know relevant and timely that we do tell the market as to what we've really achieved so far in a very short span of time. The last sort of update with respect to the investment decision that we had investment MoU, non-binding albeit, leading to a JDA that we had announced, was with the State Grid Corporation of China, which is the world's third largest company by revenue behind Walmart and Amazon, which is huge. That, going back to what I earlier said, that we partner with the best of the best companies. We've partnered with them, and they've come on board now to jointly develop the project at this stage and help us and work with us to de-risk it by completing the feasibility studies, which is very, very important because that completes the exploratory work, investigative work, et cetera, takes it to the next milestone in our project development, sort of, methodology. They've come on board and, the MoU which was announced had spoken about a steering committee. The steering committee is now in place. We had a kickoff meeting with them. The steering committee, as had been announced, has two members from our side, two members from State Grid, et cetera. All that is done. Our meetings have begun. The first meeting was held in March, on 24th of March, in fact. Then going forward, the State Grid Corporation of China has done is that it has nominated, commissioned and funded the feasibility study for the power part of our green hydrogen project, which is the power study for the 1.2 GW power, hybrid power, solar and wind, which will feed into our green hydrogen processing plant. That study has begun and, you know, once again, I reiterate this, we are already now in partnership with another company which is jointly de-risking the project and jointly developing it. That study has started. That study with the end of the thyssenkrupp studies, which are for hydrogen and ammonia. Now in parallel, our hybrid power study is happening, and this will all start to come together. Our kickoff meeting for the hybrid power study has already taken place, and the company nominated for this is Shanghai Investigation, Design & Research Institute. It's one of the largest design consulting institutes in China, and they have a lot of experience in Pakistan. They have done many projects here, been partners, been consultants, et cetera. I mean, we are in like solidly well guided now as we proceed with this part of the study. I also would like to just update everyone on how the thyssenkrupp studies are progressing for green hydrogen and green ammonia. The good news is that we've already had our midterm review meeting with them, which was held on the 31st of March. There was a follow-up meeting, and I plan to meet them again this week in Dubai with their VP of chemical processing, et cetera. You know, thyssenkrupp, if I can just reiterate once again, they're not just our study partners. They're very much linked to the project now, and they are a company which firstly doesn't just come into any project. I've said this before, but if they do come in, they stay. Their partnership is very key. It's very important and it gives us not only credibility, but it gives our entire work that much more merit because it is endorsed by the very best out there. That is as far as our studies are concerned. In parallel, a bit of an update on some infrastructure arrangements that are being put in place, for example, water, and I thought that's relevant to just share so that the market is aware of how different things are happening. We've already done a study of how the water will be brought to our project site. We've got permission from the chief engineer of the province. The whole survey was done, et cetera. Now we are awaiting the final award. When that comes through, in due course, we shall be able to update the market. As you know, water is a key input for the electrolysis process, and therefore, it is imperative that that too is put into place as part of our project development. In parallel, it is also important to sort of get the right projection on the global map. Green hydrogen is, I mean, of course, something which is now looked at in many different countries in the world as being a very important developmental process as far as energy and fuel is concerned. There are, you know, a number of very good and powerful alliances globally. We became a member of one such alliance called Dii Desert Energy. By the way, this was by invitation. You know, we were recommended to this because we are really, you know, one of the bigger players in the market as far as green hydrogen production is concerned. The good news is that now we've been invited by them to present, not just participate, but to present our project, prior to COP28, which is going to be held in Dubai, on the 28th and the 29th of November. We'll be presenting our project. I've also been invited to speak at the CEO's panel conference, et cetera. That also gives us a lot of projection. This is very, very important because this is a part of our developmental process. This is how we actually put everything together, but then we also have to form relationships with the best partners. To be a part of, you know, to sit in a room where everyone who's serious about this development is sitting is a part of our strategy as well. You know, I'm very pleased to also share that in parallel, a lot of these things also go on and, you know, at times we do share them, at times we wait for the right time to share them. There are other such developments which are in the pipeline, and I should be able to share those with you as well. All of this takes us forward. It's a part of the development process. It takes us to that point at which we start to then get the upside, which is closing all of this and completing the project as a de-risked, developed project. Meaning developed to the extent that now the right partners are on board and construction can start. We are not going to start construction. We are just going to develop it and take it to a point beyond which the actual engineering, EPC companies, et cetera, all of them start pouring in because we have done the big job. We have put it together, and we've arranged all the partners which can then start to get the work going, and then we get the benefit, and we get the upside. This is the model that we are following for our green hydrogen project as well. This is a model that we're gonna follow for our projects in Thar as well, which are also ongoing. You know, as we keep getting updates, we'll be very happy to update the market with respect to those developments as well. I think that was the update that we wanted to share and I'll be happy then to look at the questions. Naheed, thank you very much for that. Ladies and gentlemen, please do continue to submit your questions just by using the Q&A tab which is situated on the top right-hand corner of your screen. Just while Naheed takes a few moments to review those questions submitted today, I'd like to remind you that a recording of this presentation, along with a copy of the slides and the published Q&A, can be accessed via your investor dashboard. Naheed, as you can see, we received a number of questions throughout today's presentation, and if I could just ask you to read out those questions and give responses where it's appropriate to do so. I'll pick up from you at the end. Thank you. Yeah, I'll start with some of the questions which were pre-submitted. The first question, and I'll try and summarize the question, and please forgive me for that because some of them are slightly long. The first question is congratulatory, which is, you know, very nice, and thank you very much for appreciating some of the work that we do. It says congratulations on what we've achieved. Then it asks about, are we closer to first revenues, et cetera. I think that takes us back to what I have tried to explain earlier, and which is the model that we put the project together and the revenues when you actually start selling the power or selling the commodities et cetera, that's when the revenues start coming in. As project developers, our upside starts way before that because our upside comes from the premium that we get in actually putting all of this together and also deploying our capital, your capital to de-risking the project. As far as the answer to this question is concerned, we hope to see the results much sooner, hopefully, as you know, as quickly as we can deliver these projects and take them to the Financial close point or even before that, we should be able to start seeing upside like we're now gonna start seeing hopefully in our Western Australian project whereby we've got a farm-in agreement in place. Some revenues from that can actually kick in much faster because if a mine is established, a JORC resource is established at Northern Zone, then you know what? It's just a case of taking the gold out, and we can all be celebrating that. Revenues, hopefully from all our projects, can be seen sooner in the form of a premium that we will start to get as soon as those projects reach some level of maturity. The second question that I can see is about the share price and the share price has taken a battering and how can you sort this out, and I'm a long-term holder, I'm told by the shareholder, and it is heartbreaking. Yes it is, but you know, we cannot control the share price and I'm a significant shareholder as well. This is something that we really do try to ensure that we are able to convey the true value of our company to the market and, but having said that, you know, we cannot control the share price movements. Some of it is cyclical, some of it is really in relation to how the market is generally performing, behaving, et cetera, domestic conditions, global conditions, et cetera. But of course, you know, to whatever extent that we can do to ensure that the market recognizes the value that we keep adding and how valuable our projects are increasingly becoming, we believe that if that recognition becomes more and more, the share price will, you know, start performing better and that's what we're all aiming for. I can just assure you that we leave no stone unturned. As a company, we are trying our very best that every single penny that you put in and every single minute of work that we put in delivers. It delivers for you, it delivers for us. That is, you know, our commitment and we hope to show you know, the upside as we keep progressing. The third question is about funding. Well, you know, we're a small-cap company and, we have requirements, capital requirements. We try and manage those funds to the best of our abilities. We conserve cash as best as we can. Having said that, we develop projects. You know, there is a need to maintain the company's general administrative position. There is a need to develop projects further. From time to time, you know, we believe that you know we have no choice but to sort of get more funding. Whenever that time comes, we do seek that out, and I can only assure you that we try and do it when it is most needed, and we try and do it at the best possible or in the best possible way that we can. There's a question about our website and significant shareholders list being updated more on a regular basis. I'll make a note of that, and I will convey this, and I will also look at it, and we will ensure that there is no complaint in relation to this again. Also try and ensure that the website is more reflective of all our work and more accurate in its depiction. There's a question about, again, the funding, and I did answer that yes, you know, that is something that as a small company from time to time we will raise funds, but then we will grow, and we want you to grow with us and for you also to then benefit from the upside. We are not a short-term play at all. We develop substantial projects which will have a significant impact, and we promise you an upside, you know, in the shortest term possible. Of course, there are capital requirements during this journey. There's a question about, you know, our arrangement with Riversgold and why did the JV take so long, et cetera. Well, we had actually initiated the discussion earlier, but these negotiations take time and there is a lot of work that goes on behind the scenes, and as soon as we were able to finalize an arrangement, we proceeded, and we finalized the agreement. I think if there are more questions perhaps, then we can answer them in script form as they come and if they're recorded, if that is all right. Yes, of course. Thank you very much for addressing those questions. Of course, as you mentioned, the company will review all questions for today, and we'll publish those responses on the Investor Meet Company platform. Just before redirecting investors to provide you with their feedback, which is most particularly important to the company, Naheed, could I just ask you for a few closing comments? Certainly. Of course. There is just one other question which has just popped up, and I'll take it before I summarize about director share purchase agreement and why have we stopped buying shares as directors. I think when we exited that program, we did say that the only reason we are doing it is because of the administrative burden of that program. It was costing us a whole lot of money in terms of fees and the brokering arrangements that we had, and there were some regulatory issues as well, which still hold, by the way, because this is a kind of a unique practice, this kind of director share purchase because it calls for a uniform blanket approval at the very beginning, et cetera, and then there are certain other issues with it. Because it had become administratively difficult and expensive, that's the only reason that we decided to exit that. We committed to continue participating, which we shall and will. You know, we are also in closed periods often, and we always need to go to the regulators for approval before we can actually participate or you know or buy shares, et cetera. You know, we just have to bear that in mind. Having said that, we remain committed, and I can also say that we are in the process of trying to see if we can find another program scripted in some way which works better, which is less expensive that we can enter into. My directors are very supportive. We know that this is very important for us to demonstrate that commitment holds. As soon as we can enter into another program, we shall. As far as direct participation is concerned, we remain committed to that as well, as and when allowed by the regulators. That was that question that I just picked up. By way of summary, I am grateful to everyone who's participating today. I'm grateful to all our shareholders for their patience, for their interest, and for remaining a part of our you know, our story. I mean, I am committed, we are committed to making sure that Oracle grows into a large company. The projects that we develop are meaningful, they're significant. We also remain committed to ensuring that you get an upside. That's why the model that we've spoken about today, you know, speaks to that. It speaks to the idea of a return that you wish to see. It's not related to when the actual commodity gets onto a trading platform. It's about completing the development of a project, not the construction, not the tools. This model is something that will start to deliver, and it already is showing you that, the returns much faster. We are committed to that, and we are involved in big projects, and each one of them is, you know, not less important. Of course, we are, you know, we have decided to develop more clean energy projects. As a company, we want to prioritize that going forward. We are also going to, come what may, try and close all the projects that we have on our portfolio in the best possible and the most lucrative manner that we possibly can. I'll be happy to take any of the questions that our shareholders send through, and we will make sure that we address all your concerns to the best of our capabilities. Thank you very much. Naheed, thank you for updating investors today. Could I please ask investors now to close this session as you'll now be automatically redirected to provide your feedback in order that the management team can better understand your views and expectations? This will only take a few moments to complete, but I'm sure it'll be greatly valued by the company. On behalf of the management team of Oracle Power PLC, we'd like to thank you for attending today's presentation, and good afternoon to you all.