Albury Mill Biomass/Gas Cogeneration 3 March 2011

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3 5. Project Benefits – Phase 1 –CO2 reduction of 15% or 107,000t CO2 per annum –Mill steam supplier –No internal manning changes –Creation of 5 external jobs in biomass supply chain –Up to 100 construction jobs –75% less natural gas than used now –No upgrade to gas network is required for this phase –Part of the current gas network is available for Albury City Council Planned Industrial Hub project –8 MW generated on-site, Exempt from AEMO 6 MW green generation 2 MW gas generation

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5 5. Project Benefits – Phase 2 –Phase 1 benefits plus, –CO2 reduction by a further 16% or 115,000t CO2 per annum –Total CO2 reduction is now 31% or 222,000t CO2 per annum –All of the current gas network is available for Albury City Council Planned Industrial Hub project* –33 MW generated on-site, 6 MW green generation 27 MW gas generation * Requires new high pressure gas pipeline infrastructure

6 5. This Stage Deliverables ▪ The expected deliverables of this stage 3 Phase 1 are as follows: –Planning approval completed –EIS completed and approvals underway –Detailed design completed –TransGrid connection agreement completed –Commercial arrangements in place including for biomass supply –Construction contractor appointed –Major equipment suppliers selected and agreements in place –Preliminary equipment orders placed –Government funding agreed –Re-confirmed business case –Toll gate submission –Board report and submission –To be completed by 31 December 2011

7 For further project information please contact: Mr Michael Machin Environment and Business Development Manager Albury Mill Ph (Office) (mobile/cell phone)