Shareholder update

Dear Shareholder,

INCEPT SECURES 52 YEAR RIGHT TO SOLAR CARBON CREDITS

The Company wishes to confirm that it has contracted the rights to sell the carbon credits from the Green Innovation, Exploration and Resources Inc-owned solar power plant in Negros, Philippines.

The financing is complete on the 80 MW Solar plant with 25 + 25 years permit from Department of Energy, Republic of Philippines under Approval Number SESC 2014-02-064 with production in 2018.

The solar plant produces around 39 million (subject to approval Gold standard) carbon credits over 25 years (calculation 80MW= 5153900720 running KWH at the rate of .007560 MTCO2e= 38,953,489 carbon credits over 25 years).

Over the 25+25 years contract the Incept subsidiary will receive a net consideration in real terms based on daily trading price per carbon credit sold on daily basis and the ability to sell these credits forward.

Directors
Incept Holdings Limited

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