• Stage 1 construction progressing at the HPA plant in Johor, Malaysia. • Exclusive mandate established with Macquarie Bank (ASX:MQG) for up to US$90m in mezzanine debt. Completion of a mezzanine facility is conditional upon MQG’s view of all due diligence outcomes and agreement with the senior lender (US$190m) German government-owned KfW IPEX -Bank on inter-creditor arrangements. • In mid-April, ATC announced the successful completion of an A$18m (before costs) share placement @ A$0.1085 per share (~ 16.5% discount to closing price on date of trading halt). The placement was anchored by two German institutional investors (Deutsche Balaton and Delphi) and existing ATC shareholders SMS Investments and the Melewar Group. Note: SMS are also committed to an equity contribution of ~A$13m at project financial close. Proceeds from the placement will be mainly applied to Stage 2 engineering and construction of the HPA plant.