Announcement PDF 2 April 2024 Company Update Embedded electricity provider, Locality Planning Energy Holdings Limited (ASX: LPE) (the Company or LPE), provides an update to the shareholders and the market on the Company. Restructure Update The Board of LPE now consists of Messrs. David Jarjoura, Simon Tilley, and Stan Kolenc, significantly reduced from previous the seven members. The Chair's salary has been reduced from $220,000 to $125,000 and Non-Executive Directors’ Tilley and Kolenc are proposing to take options in lieu of their directors’ fees. These options have been independently valued by Traverse Accountants at $70,000 each, assuming a share price of 3.8 cents. The Non-Executive Directors, who have not received any remuneration since joining the Board, have elected to receive options in consideration for their Directors’ fees to preserve the Company’s capital; however, should the proposed option package not be approved by Shareholders, the Directors can elect to be paid their Director’s fees (at the same rate as previous Non-Executive Directors, being $60k per annum) for time served on Board. Should both Messrs. Tilley and Kolenc exercise their options, LPE would raise c. $2.1m from Mr Tilley and Mr Kolenc. The issue of securities under the Employee Incentive Plan proposed for our people, which the Board is seeking Shareholder approval for at the upcoming General Meeting, is to retain our people, assist with attracting new people and to motivate all to achieve LPE’s goals. Company Goals The Boards has been, through the Interim Chair, and continues to, review operations at LPE with our people with the goals of: • • • • ensuring efficient operations; growing the number of our service point numbers; improving our customers experience; and improving the revenue per customer from existing services and possibly new services. This will be accomplished through investing in the Company’s sales and customer service teams and with targeted arrangements with complimentary business to LPE’s existing business. Business Performance Update The Board looks forward to updating the market on business performance in the March Quarterly reports due to be released in coming weeks. This will include the Board’s view on full year profitability Locality Planning Energy Holdings Ltd (ASX: LPE) Level 8, 8 Market Lane, Maroochydore BC QLD 4558 ABN 90 147 867 301 Telephone 1300 443 735 localityenergy.com.au CEO Update The Company’s CEO is currently on extended personal leave. During his extended absence, the Interim Chair has taken on the role of Executive Chair to ensure the Company is operating effectively. Whilst David Jarjoura is in the role of Executive Chair, his salary has been increased by $10,500 per month. Bio Hub Loan As previous announced, the Board renegotiated the terms of the Bio Hub loan. Repayment of the loan and interest is current due at the end of June. This loan repayment will have an impact on the Company’s financials and results for this year. The Board will continue to keep the market updated. Authorised by the Board. For further information: David Jarjoura Executive Chair investors@localityenergy.com.au 1800 040 168 About LPE LPE is a growing electricity provider to strata communities challenging the way customers receive their electricity; leaders in innovation, supporting communities to think of tomorrow. With first to market technology, LPE has delivered renewable solutions for apartment living and carbon neutral centralised hot water systems, creating shareholder value through long term supply agreements that provide strong recurring revenue. LPE predominantly services the Queensland energy market, selling electricity, hot water, solar and battery systems to strata communities. Supporting those living in strata communities to reduce their carbon footprint and energy bills with no upfront cost. If you have any questions on this announcement or any past LPE announcements, check out our InvestorHub. Like, comment, ask a question and view video summaries on important announcements. You can find this through the following link or scanning the QR code: investorhub.localityenergy.com.au Locality Planning Energy Holdings Ltd (ASX: LPE) Level 8, 8 Market Lane, Maroochydore BC QLD 4558 ABN 90 147 867 301 Telephone 1300 443 735 localityenergy.com.au