Multigate is a Carbon Neutral Company

^Multigate use 3rd party specialists to assess our impact and guide our environmental stewardship and carbon neutrality programs. We use our previous years' assessment of greenhouse gas (GHG) emissions from our company operations to forecast our emissions for the current financial year. The equivalent number of carbon credits are then pre-purchased and retired to offset our forecasted GHG emissions and enable us to claim carbon neutrality for the period. We identify and rectify any difference between what was forecasted and our actual GHG emissions during the period as part of our next assessment, to ensure that we have adequately accounted for, and offset, our scope 1,2 and 3 GHG emissions in line with program boundaries and requirements set by South Pole in order for them to validate our neutrality claim and allow Multigate to use their Climate Neutral Company label. Our decision to switch climate action partners (from South Pole to Carbon Neutral) in January 2023 has resulted in our planned revalidation process being changed and delayed. To maintain our climate neutral status, Multigate (with agreement from Carbon Neutral) have estimated our FY23 emissions at 1,135 tCO2e (South Poles FY22 estimate of 1,196 tonnes plus 10%) which contains a small provision to cover a potential shortfall in our FY2022 estimate. Multigate has pre-purchased and retired the equivalent number of carbon credits in approved climate action projects - see projects section for details. Carbon Neutral will now access our actual vs estimated impact for FY22 and FY23 to determine if the carbon credits already purchased cover our the GHG emissions created for these years, and additional credits will be purchased if required. Carbon Neutral will then work with Multigate to review and adjust if required the program scope and boundaries originally established by South Pole for our FY24 program, and they will work with Multigate to identify and recommend further opportunities for emission reduction and improvement.

*Based on an average Australian petrol passenger car that uses 11.1L/100km and travels 11,067km year (abs.gov.au 2020) and Petrol EF of 2.38 kgCO2e/L (industry.gov.au 2021), we calculate emission generated at 0.26418 kgCO2e/km travelled and 2,923.68 kgCO2e per car/per year.