Our battery recycling business has had a strong start to the new financial year, with lithium-ion battery volumes across July and August already ahead of any full quarter in FY26. The Sell & Parker agreement contributed 77 tonnes across the two months, and volumes from BYD, CATL, LGES and Hyundai Glovis continue to broaden our customer base at the Derrimut hub.

On solar recycling, we're progressing with our partners Iondrive and Won Kwang S&T towards a trial deployment of Won Kwang's mobile Solreborn recycling technology in Australia, tentatively targeted for the first quarter of 2027. Further shipments of end-of-life panels are now processing under a newly agreed revenue share model with Won Kwang.

VSPC's discussions with a large multinational industrial organisation have moved forward, with the potential partner confirming it wants to proceed to due diligence, focused on VSPC's Gen4 technology. We want to be clear that these discussions remain non-binding, no agreement has been signed, there's no certainty a transaction will proceed, and any deal would still need due diligence, negotiation, definitive documentation and all required approvals.

Finally, a reminder that our Share Purchase Plan has been extended to 5:00pm (AEST) on 11 September 2026. Applications so far total over A$707,000, and your Board has collectively applied for A$80,000 under the offer. If you've already applied, you don't need to do anything further unless you want to top up towards the $30,000 maximum.

If you have questions about any of this, we'd encourage you to ask us through the investor hub.