Overview of Kalina Power's Quarterly Activities Report

Kalina Power Limited (ASX: $KPO) is pleased to present its Quarterly Activities Report and Appendix 4C for the quarter ending 31 March 2024. The report highlights the company's engagement with PricewaterhouseCoopers Corporate Finance Inc. ('PwC CF') as a strategic advisor to secure funding for project development, particularly for its ~200MW projects deploying natural gas-fired Combined Cycle Power Plants integrated with Carbon Capture and Sequestration ('CC-CCS'). The company also provided updates on the progress of its Saddle Hills project and financials, including cash flows and payments to related parties.

Executive Commentary on Quarterly Activities

KALiNA's Managing Director, Ross MacLachlan, emphasized the positive engagement during the quarter and the advancement in project development negotiations with multiple parties to arrange funding. He highlighted the importance of structuring successful outcomes that are accretive for shareholders and the team's diligence in engaging with parties aligned with the company's interests in developing successful projects.

Summary of Quarterly Activities and Outlook

The Quarterly Activities Report outlined the progress in engaging strategic and financial investors for the CC-CCS projects, with significant changes in the business and regulatory environment increasing confidence and reducing risk. The company's plans for the Saddle Hills project are dependent on the finalization of Canada's Clean Electricity Regulations, with a request to defer plans until April 2025. In terms of financials, KALiNA received a short-term loan and held $370,000 in cash at the end of the quarter. The report also addressed payments to related parties and provided a compliance statement. Looking ahead, the company expects reduced project development costs for the next quarter and is confident in its ability to raise additional funds if required, aiming to continue operations and meet its business objectives.